Trading for the Inexperienced Traders

[Caladonian]

Trading for beginners can be difficult at first, but then everyone will be able to find a convenient strategy and get a small additional income, but the main thing is not to hurry and not to fall into the excitement

You normally do not have the skills needed at trading at first. And if you are new, you face tough times. This is what all the successful traders say about and guides you about. So, what I want to say is that one should not really enter/invest in the market as long as the required skills are not there. You need to read more and more about something you are passionate to start and only then you could be good at it.

For this I think new traders should learn all trading skills and then joining market, but those who are not joining only for fear of lose so how will they get experience, instead of losing this good time of low price better gain knowledge and enter market, for inexperience traders better joining long term trading to start your journey and later on you will have experience to trade for day as well, but for experience you will have to get in first.

What I recommend is that you enter the trade with virtual money, that you test your strategies with virtual money and look at your efficiency rate, if you see that the results are positive, then enter with real money, otherwise, you must correct your strategy.

With virtual money you will more familiar with how things will works inside the trading platform that you are working with, maintaining your
flexibilities to adopt and make improvements from time to time will strengthen the strategy that you are forming inside the virtual funds that
you are using, afterwards when you are fully ready, things will be much easier to you.

Though there's slight changes or differences between real trade and virtual, it all be matter with how will you take the risk
and how will you control your emotions.

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[Google+]

Trading for beginners can be difficult at first, but then everyone will be able to find a convenient strategy and get a small additional income, but the main thing is not to hurry and not to fall into the excitement

You normally do not have the skills needed at trading at first. And if you are new, you face tough times. This is what all the successful traders say about and guides you about. So, what I want to say is that one should not really enter/invest in the market as long as the required skills are not there. You need to read more and more about something you are passionate to start and only then you could be good at it.

For this I think new traders should learn all trading skills and then joining market, but those who are not joining only for fear of lose so how will they get experience, instead of losing this good time of low price better gain knowledge and enter market, for inexperience traders better joining long term trading to start your journey and later on you will have experience to trade for day as well, but for experience you will have to get in first.

What I recommend is that you enter the trade with virtual money, that you test your strategies with virtual money and look at your efficiency rate, if you see that the results are positive, then enter with real money, otherwise, you must correct your strategy.

when you apply that method then the money you get will not be able to become much, you should have to use the money and profits you have to buy more coins and use that for your capital, the higher your trading capital, the easier the profit you get.

[Noa_Amable]

When I started trading, I had no idea on charts and market sentiments but I decided to also benefit from the Pro traders as they move the market.

First of all, note that the market has mainly three sides, bull/green (short or long term), sideways, and bear/red (short or long term).

If you're an inexperienced trader like me, don't look at the sideways and red markets. Always wait for a green market (and it happens at least once every month). During that time, set a little target (say 10%-20%) you can even make more if you follow a good coin. Enter the market and take your profits.

Wait for the next round (probably a month a later)- you can keep your money in a stable coin, and by the end of a year you could make (10-20%)x 12 on your money.

Don't try trading everyday if you're not a PRO, they'll squeeze your money from your hands lol...and also never try catching tops and bottoms of you're not a PRO, they'll squeeze it once again. (remember you may be dealing with bots).

Merry Christmas (if you celebrate) and a Happy New Year to y'all.


Edited: This isn't to say that don't study the market. In fact you'll need to build your knowledge to survive in crypto, especially in these times, but this is a message to newbies who're trying out the market (fact is that, you can study the market as long as you want but if you joke all your money will be drained). Have you ever asked yourself why people in paid groups make the most money from trading, you just can't learn TA and FA lol.... There are PROs and they're moving the market so my trick is to help you also benefit as they move the markets. So that you don't try competing with them coz they can make you REKT, trust me.

sure, you should study market and news to understand because of what price moved this or that direction.
regarding red and green trends - support and resistance concept may help a lot!

[Kelvinid]

To sum it up:

-you'll buy altcoins in an exchange
-set target (10-20%). For me, it isn't just small target profit.
-hold and wait it until it reached your target.

There is no need to wait until the end of the year
Not all year ends are bull trend. What is the use of the target profit if you will wait for dec? You can sell your hold coins immediately, even for a month if it reached 10% profit.

Its more on a target price, and its good to always secure profit than to be more greedy. There is no excuse as an inexperienced trader because we started like this before, and we should continue to learn. Being greedy in trading will just result to a bad prices, always have your strategies.

What i've notice on some beginner is that they always wait for the bull run or hype market to have huge profit not knowing that they could have it almost every day. Target price is the time to sell off your desired coin however there are times that before target price reach you need to sell it in order to avoid the price decline of the certain coin.

That's pretty obvious that they'll always thinking for easy returns during bull runs but they'll maybe forgot for any possibilities for unexpected drops which could lead them into losing their funds. That's not really a good idea, better to start during the dips cause it usually happens that pumps will follow in the coming days and will be gaining on that time.

[voztata]

I get what you mean, but it doesn’t work like that. You hold that money for a long term or trade it daily. If you’re going to do it the way you have explained it here I’m not sure you’re going to make any reasonable profit. Have you been watching the market lately, don’t you see how it has remained stable and sometimes it even drops to lower price.

they'll always thinking for easy returns during bull runs but they'll maybe forgot for any possibilities for unexpected drops which could lead them into losing their funds.

I think you should go for a long term target. Now that the market is in bear, you should buy one of the top ten (or maybe hundred) and hold it for a long term. If you can be able to have patience till there is a Bull run you’re going to be happy that you did. It’s not easy, but that was how I made my first profit as a beginner. And I used those time I waited to study the main daily trade.

[lobat999]

I get what you mean, but it doesn’t work like that. You hold that money for a long term or trade it daily. If you’re going to do it the way you have explained it here I’m not sure you’re going to make any reasonable profit. Have you been watching the market lately, don’t you see how it has remained stable and sometimes it even drops to lower price.

they'll always thinking for easy returns during bull runs but they'll maybe forgot for any possibilities for unexpected drops which could lead them into losing their funds.

I think you should go for a long term target. Now that the market is in bear, you should buy one of the top ten (or maybe hundred) and hold it for a long term. If you can be able to have patience till there is a Bull run you’re going to be happy that you did. It’s not easy, but that was how I made my first profit as a beginner. And I used those time I waited to study the main daily trade.

Sounds like a good advice since cryptocurrency is only at its early stage and there are room for growth.I've heard stories of crypto early adopters that opted to sell their stash at very low price and have regrets later when the bull season occurred last year which could have make them lots of money if they only chose to hold their portfolio for long term.

[TheUltraElite]

Sounds like a good advice since cryptocurrency is only at its early stage and there are room for growth.I've heard stories of crypto early adopters that opted to sell their stash at very low price and have regrets later when the bull season occurred last year which could have make them lots of money if they only chose to hold their portfolio for long term.

Such incidents have happened but you should also know that a lot of it also speculation and not everything that you hear on the internet is going to be true. There are people trying to pump coins and create fake hype because they are bagholding it and want it to go up. However for bitcoin this is not needed since even if small term pump and dump occur in this manner the long term vision of bitcoin is diverse and worth investing in if you have the balls.

Truely speaking nobody would hold bitcoin which they bought at 10 dollars when it touched 100$. But then again as soon as someone sells someone is going to buy.

[CoinCollect]

Any business should be approached responsibly. If you do not have at least basic knowledge, it makes no sense to start trading. Otherwise it won't do any good.

[ricardobs]

What I recommend is that you enter the trade with virtual money, that you test your strategies with virtual money and look at your efficiency rate, if you see that the results are positive, then enter with real money, otherwise, you must correct your strategy.

Well this is never about the convenient strategy but only about how much you understand about the thing you are dealing in. If you do not have or have minimum knowledge about Bitcoin, how come you end up making strategies about the cryptocurrency ?

Moreover, I think that you should invest in coins available at low cost in the market like ripple and Eth and you can learn how to do things.

[Moiyah]

That's how a typical beginner does. Setting a target profits will at least refrain you from your greed. But listening to the pros sometimes will not give you a good profits, instead they aren't that really expert and will just give you shits.
Anyway, you can still do some trading even if it is red candles. I am pertaining margin trading. But since you are an inexperienced trader, trading altcoind will do.

[Aivaryamal]

Thanks to the author for the topic, very useful tips for any trader, regardless of the level, I want to add that it is also important to choose promising cryptocurrencies and as many of them in your portfolio

[cryptoknightt]

Thanks to the author for the topic, very useful tips for any trader, regardless of the level, I want to add that it is also important to choose promising cryptocurrencies and as many of them in your portfolio

I think this cryptocurrency trading cannot provide a guarantee of the possible benefits you can get because I see the cryptocurrency price movement does not always experience price increases, there are times when there will definitely be price reductions that will make you lose or not benefit

[syamster]

Thanks to the author for the topic, very useful tips for any trader, regardless of the level, I want to add that it is also important to choose promising cryptocurrencies and as many of them in your portfolio

I think this cryptocurrency trading cannot provide a guarantee of the possible benefits you can get because I see the cryptocurrency price movement does not always experience price increases, there are times when there will definitely be price reductions that will make you lose or not benefit

Of course it is not good to expect only profit all the time because price can rise and low but we can change our luck using our patience and trading skills, if price reduces your can save yourself from lose with help of your patience and waiting, for those who are not having any treading experience they will have to gain knowledge and never trade blindly, better if you gain knowledge whenever you get the opportunity.

[TheUltraElite]

Any business should be approached responsibly. If you do not have at least basic knowledge, it makes no sense to start trading. Otherwise it won't do any good.

I am not sure how to idea of business is coming here. Of course without basic knowledge anything is going to be a failure but how does that relate to a business?

Thanks to the author for the topic, very useful tips for any trader, regardless of the level, I want to add that it is also important to choose promising cryptocurrencies and as many of them in your portfolio

How do you decide a promising currency or not? In this market 99% of the coins being circulated are nothing but shitcoins created to make money, not for the investors but for the team of that currency. They will do a whitepaper and feed you with their BS koolaid and then dump their share where they have a nice pump in price. Nothing new here but its an effective mode of making money for them.

[Ailmand]

I also learned from the advice of pro traders and I guess experience is still the best teacher. Sometimes, we have to do simple applications of what we read and what we watch about trading but we should do it with smaller capital. As day passes by, we could deal with the changes in the market easily.

[Mpamaegbu]

What I recommend is that you enter the trade with virtual money, that you test your strategies with virtual money and look at your efficiency rate, if you see that the results are positive, then enter with real money, otherwise, you must correct your strategy.

While your suggestion may not be a bad idea, it isn't the complete thing to do. This is the mistake most people make going into trading on their own. They think that with demo practice they can avoid the MENTORship route. We should understand that to be successful in life one ought to go through a mentor. Otherwise it will take a longer process of trials with errors learning it on one's own attempts.

[Pattart]

What I recommend is that you enter the trade with virtual money, that you test your strategies with virtual money and look at your efficiency rate, if you see that the results are positive, then enter with real money, otherwise, you must correct your strategy.

Well this is never about the convenient strategy but only about how much you understand about the thing you are dealing in. If you do not have or have minimum knowledge about Bitcoin, how come you end up making strategies about the cryptocurrency ?

Moreover, I think that you should invest in coins available at low cost in the market like ripple and Eth and you can learn how to do things.

Strategies are made from your knowledge of the market, about cryptocurrency, and your experience. if you don't have any knowledge
of course you won't be able to make a great strategy in trading dude?

[Greed Dev]

 I understand your strategy. I'm also a newbie and now I have over $ 3,000 to start trading. But everything is bad for me now. I don't know how to invest to make a lot of money.
The crypto market is for traders, buying low and selling high is the only strategy to get rich in the crypto market.
hold is a pretty risky decision in this market. I think we should practice short-term trading instead of long-term investment.

[Kasabus]

I also learned from the advice of pro traders and I guess experience is still the best teacher. Sometimes, we have to do simple applications of what we read and what we watch about trading but we should do it with smaller capital. As day passes by, we could deal with the changes in the market easily.

Advise just gives us a little help to be successful, experience is really necessary as long the way we can learn new technique
that would eventually improve our strategy. What is needed to be successful in trading is you need some kind of consistency, because with consistency you will also end up profitable in your journey, and this needs you to devote your time in trading and consider it a long term activity or journey. 

[futile-resistance]

Strategies are made from your knowledge of the market, about cryptocurrency, and your experience. if you don't have any knowledge
of course you won't be able to make a great strategy in trading dude?

Even if you do have knowledge, trading is tough job to do and many experienced people even make losses in the start but if you know nothing about trading and have no prior experience, you might think twice before spending big. You should make use of little money to gain experience in the market. Once you know how to do and what to do, you would be able to make money in trading.