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Author Topic: My Experience From Crypto Trading  (Read 64 times)
omali
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July 15, 2018, 11:37:26 AM
 #1

Start Small
With every investment opportunity, the golden rule must be followed: do not put in more money than you are willing to lose. This is lesson I learnt  the hard way.

This golden rule applies to the world of crypto more than any other industry, given how quickly a cash position can depreciate.

Invest with a little amount of money and test some of the strategies you’ve deemed successful in the past.

Exchange Fees
There are many Websites which are great to start exchanging cryptocurrencies, but be aware of the fees you incur with each transaction.
That was how I heard of a good exchange and quickly moved my bitcoin there without asking of the exchange fees and withdrawal fees... Trust me, that was a very hard  Cry

Creating Multiple Wallets
I also learnt to create multiple wallets and accounts to keep my assets diversified and I recorded the passwords for each on paper.

In conclusion, Don't rushin, Don't fomo, relax, resesearch, learn from others mistakes, and as you continue to progress and grow more comfortable, you can start to invest more.
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chulos
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July 15, 2018, 12:35:23 PM
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The Internet is full of tips, tricks and rules to deal with Bitcoin and other cryptocurrencies. But no one can guarantee that the investment will bring you the desired result. The crypto market is still too dynamic. Bitcoin trading is similar to other investments /for example, in shares or raw materials/ and is certainly not easy. Start with less investment - do not invest big money right now. Spread your investment - Do not put all your eggs in one basket. Watch the development of popular cryptocurrencies such as Ethereum, Litecoin or Ripple. These are my experiences and the rules that i keep in trading in the crypto world.
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July 15, 2018, 12:49:08 PM
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Learn all you could before investing your money. Dont invest any money you wont be able to loose, and commit your ways to God. Just my little piece
Velkro
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July 15, 2018, 02:08:51 PM
 #4

The Internet is full of tips, tricks and rules to deal with Bitcoin and other cryptocurrencies. But no one can guarantee that the investment will bring you the desired result. The crypto market is still too dynamic.
Crypto market is similiar to stock market. You can't predict it unless you have insider's info.
Crypto/Bitcoin markets are more resilient to insider's info because there is not much possible info that could shake market.

In general without insider info its pure gamble.

Crypto_Sassy
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July 15, 2018, 02:34:07 PM
 #5

Start Small
With every investment opportunity, the golden rule must be followed: do not put in more money than you are willing to lose. This is lesson I learnt  the hard way.

This golden rule applies to the world of crypto more than any other industry, given how quickly a cash position can depreciate.

Invest with a little amount of money and test some of the strategies you’ve deemed successful in the past.

Exchange Fees
There are many Websites which are great to start exchanging cryptocurrencies, but be aware of the fees you incur with each transaction.
That was how I heard of a good exchange and quickly moved my bitcoin there without asking of the exchange fees and withdrawal fees... Trust me, that was a very hard  Cry

Creating Multiple Wallets
I also learnt to create multiple wallets and accounts to keep my assets diversified and I recorded the passwords for each on paper.

In conclusion, Don't rushin, Don't fomo, relax, resesearch, learn from others mistakes, and as you continue to progress and grow more comfortable, you can start to invest more.

Most important,Do your own research, do not buy shit and do not panic sell.

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July 15, 2018, 11:39:56 PM
 #6

You hit the nail in the right direction. In conclusion don't rush be patient, apply all your trading strategies on paper trading and start with small capital before adding big funds.
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July 16, 2018, 03:05:54 AM
 #7

There are available trading simulation out there.  You can sign up and start trading using the simulation game and by that you will learn more application knowledge than just theories.

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Full Member:

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████████████  [ ANN ] [ Website ] [ WP ] [ Telegram ] [ Twitter ] [ Facebook ] [ YouTube ] [ Linkedin ]

Quote
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████████████  [ ANN ] [ Website ] [ WP ] [ Telegram ] [ Twitter ] [ Facebook ] [ YouTube ] [ Linkedin ]
Sr.Member:

Code:
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July 16, 2018, 07:50:11 AM
 #8

I have started trading about 10 years ago. I have started on Forex market where I trade pairs USD/EUR, EUR/JPY, GBP/USD etc... Now I am trading also on stock market as on crypto market.

When I started trading I did not know a lot about market and how it works but I have read a lot to get as much knowledge as I can. Also, I have trying to trade on DEMO account but the lesson I have learned was not good as I have learned when I have invested real money. Starting from few bucks to several hundreds of dollars just to feel how it is to earn real money on market.

During trading on any market You need to have technical analysis background to be able to recognize some patterns and to try to predict movements of market. All market patterns are made by human who are trading and relying on previous movement of the price. So sometimes You can earn money from these patterns.

Please check it here for starting with analysis: 
https://www.investopedia.com/university/technical/
https://www.investopedia.com/articles/trading/02/121602.asp


Human psychology:
People are greedy when they see opportunity to grab some money. You have to beat this beast inside You to stay calm and cold in Your head because this will crush Your account like pile of cards.
Second is fear which ruins Your account in matter of seconds if the market is on rally. Key solution for this is stop loss and money management. Very important whenever You open a trade on any market. Even if You lose one trade with good money management You will stay in the market for long a period of time because You will not lose all Your money with one trade.

Check it here:
https://www.thebalance.com/psychology-of-trading-2536732

I hope this will help someone who trade on crypto market to earn more coins.

mjglqw
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July 16, 2018, 03:33:05 PM
 #9

The Internet is full of tips, tricks and rules to deal with Bitcoin and other cryptocurrencies. But no one can guarantee that the investment will bring you the desired result. The crypto market is still too dynamic.
Crypto market is similiar to stock market. You can't predict it unless you have insider's info.
Crypto/Bitcoin markets are more resilient to insider's info because there is not much possible info that could shake market.

In general without insider info its pure gamble.
I wouldn't call it "pure gamble" even if without insider information though. Sure it's still damn risky, but by doing extensive research on certain projects you could decrease the risks slightly, even though good projects =/= profit(as I still can't comprehend how a project like EOS is in the top 5 spot on CMC).

There are available trading simulation out there.  You can sign up and start trading using the simulation game and by that you will learn more application knowledge than just theories.
Here's one, for those who are wondering: https://bitcoinflip.app/

nguyet91btc
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July 16, 2018, 03:38:07 PM
 #10

Your opinion is very good. I share my experience:
1. Learn the techniques and psychology of trade coin
2. not FOMO
3. have the spirit of steel.

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Sema1984
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July 16, 2018, 03:57:28 PM
 #11

Such a good advices for the newbie traders. However, I would also recommend everyone to start with small amounts.
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