Newbie looking for some strategic advice

[EdvinZ]

If you are a beginner, then only investing for a long term will suit you. Do not try to use margin trading. If you are tempted to use it, be sure to put a stop loss. Margin trading assumes that you are versed in technical analysis, so follow experienced traders on social networks and learn technical analysis yourself in parallel. And also stay up to date with all the important news in the industry.

[drlukacs]

4. Short selling (margin trading?) - This is probably not a good idea at this point, I understand the concept of short selling but don't think I'm ready for this yet.

- Or if I'm completely on the wrong track or have missed anything, just let me know!


Looking forward to reading your views. Thank you in advance.

I think it is reasonable to make margin transactions now. because when the market goes down we can't speculate on bitcoin or alts, because the price keeps going down anyway. So speculating on coins is risky. When we see the downside of bitcoin or the alts, we should make a short sale and we will have more income during the market downtrend. This applies a lot in the US financial markets, Jessi Livermore and George Soros are very good at these things. They are rich while the market is down, so nothing is impossible.

[Triffin]

-snip-

None. Because if you trade a coin on a daily basis instead of just holding them for a long time, the chances that you will earn more is higher. Example is if you just set a goal of 1.5% profits per day, thats 45% in a month, but if you hold on a coin for a month, I dont think 45% is possible.

That's right, I do that way and what is your calculation is true, but I portion my capital for a short-term trading and long-term trading, I usually trade cheap coin that listed in the top 100 coins at the marketcap for a short-term. For a long-term I choose expensive coin that listed in the top 10 coins on the market.

This is good to choose both long term and short term trading but you will have to be ready for it like if you think that long term trading gives you more earning than short term trading you simple should trader for long term using some well-known coins like bitcoin and ETH but just be sure about the importance and potential of the coin before invest in it.

Each person will have a different choice because based on their knowledge they need to decide about whether they need to hold the coin for long term or short term. If you don't have patience in the long term, better start trading them in the short term and it will help you to make a decent profit if you are well experienced.

Yeah there are so many people and each of them has change point of view so we should choose according to your experience. If you are having good knowledge in trading you simple trade long term and meanwhile you should try to learn more about trading. New traders should trade for long term and learn from all means about trading, as in trading knowledge is the basic thing.

[Kevondo]

-snip-

None. Because if you trade a coin on a daily basis instead of just holding them for a long time, the chances that you will earn more is higher. Example is if you just set a goal of 1.5% profits per day, thats 45% in a month, but if you hold on a coin for a month, I dont think 45% is possible.

That's right, I do that way and what is your calculation is true, but I portion my capital for a short-term trading and long-term trading, I usually trade cheap coin that listed in the top 100 coins at the marketcap for a short-term. For a long-term I choose expensive coin that listed in the top 10 coins on the market.

This is good to choose both long term and short term trading but you will have to be ready for it like if you think that long term trading gives you more earning than short term trading you simple should trader for long term using some well-known coins like bitcoin and ETH but just be sure about the importance and potential of the coin before invest in it.

Each person will have a different choice because based on their knowledge they need to decide about whether they need to hold the coin for long term or short term. If you don't have patience in the long term, better start trading them in the short term and it will help you to make a decent profit if you are well experienced.

Short term and day trading needs good stress management otherwise they are great sources of making money as constant source of income. I have seen that those traders who do not have really well time management skills and control over nerves, they are the ones who are usually into long term trading and they don’t have sound knowledge about market strategies etc. short term traders are real traders.

[JessicaVL]

Hi all - I'm now to the forum and new to crypto trading. For the last couple of weeks I have been studying various charts and patterns using TradingView.com and reading lots of blog posts, articles, news, videos, etc. There is quite a steep learning curve to it - especially the technical analysis, but I think I'm slowly getting the hang of it - I've (fairly) accurately predicted a few trends on some crypto currencies I have been watching - I'm just trying to gain as much experience as I can.

I understand about spreading risk/hedging bets, and have a budget of about $2,000 which is what I could afford to lose (although I'd rather not!) and have created a bitcoin wallet and have opened an account on Binance.

Anyway - having read lots of articles I'm thinking of three, maybe four, possible strategies and I'm wondering what you guys would recommend a newbie like myself should focus on;


1. Long term trades - buy into various currencies where I believe they will increase in value in the long term. I have identified a few and think they may be profitable in 6-12 months or so.

2. Short term trades - I have seen some people describe this as "swing trades", where with some technical analysis I try to buy currency at a low point with an aim for it to increase in value and then sell it. Timescales being a lot shorter; maybe days or a couple of weeks.

3. Identify new and upcoming coins - the idea here is to research coins that are fairly newly launched. I need to do some more research if this were a viable option, but picking the right coin to buy into early could be very lucrative.

4. Short selling (margin trading?) - This is probably not a good idea at this point, I understand the concept of short selling but don't think I'm ready for this yet.

- Or if I'm completely on the wrong track or have missed anything, just let me know!


Looking forward to reading your views. Thank you in advance.

There are many different things you can do in order to develop and improve trading strategies. The best advice I think I can give is to try to learn from more experienced and successful traders than yourself. This can be done in several ways including reading blogs, watching videos, and using social trading platforms. The social trading platform that I personally enjoy using and learning from is eToro. They are the world-leading social trading platform, and they have a neat copy trader feature that allows you to copy, trade for trade, a more successful trader of your choice.

[Mpamaegbu]

If you are a beginner, then only investing for a long term will suit you. Do not try to use margin trading.

Even long term investment won't guarantee profitability. It's not a sure thing kind of stuff. There are tokens/coins that have turned shitty over a period of time. I think it will be best to say that uncertainty rules the crypto industry at the moment. Just a few coins are worthy of any investment. A lot of shitty projects are out there now with fraudulent teams.

[Karmakid]

If you want to build a good strategic approach with the market, you should look for the indicators that are available where you can use them to help to identify the possible entry and exit points for your position. Trading is not that hard, the only difficult in trading is the starting stage and once you overcome it, you will unlock a lot of possibilities.

[mbilal15]

I find this exchange really reliable and helpful for cryptocurrency trading. You will find here all the assistance that a newbie needs in this market. checkout http://[Suspicious link removed]/Go4cryptoo

[spike420211]

Trading is a very complex and responsible discipline. You will have to sacrifice a lot to become a truly sensible trader.
Long-term trading is probably the most difficult thing in trading, because it relies solely on your patience. I would start with short-term or scalping in order to thoroughly study market trends.

[Triffin]

If you want to build a good strategic approach with the market, you should look for the indicators that are available where you can use them to help to identify the possible entry and exit points for your position. Trading is not that hard, the only difficult in trading is the starting stage and once you overcome it, you will unlock a lot of possibilities.

Nothing is easy for everything we will have to face good and bad things so if market is bad better have to wait instead of loosing hopes and panic. Market brings good and bad news so you will decide what to trust, never sell for panic and don’t keep waiting even if market is good. To overcome hard time you need a lot of knowledge so keep learning trading and work hard for it if possible.

[MWesterweele]

If you want to build a good strategic approach with the market, you should look for the indicators that are available where you can use them to help to identify the possible entry and exit points for your position. Trading is not that hard, the only difficult in trading is the starting stage and once you overcome it, you will unlock a lot of possibilities.

When you are a beginner trader expect some losses even you are an expert, losses will always be there, no matter how good you are, but in every losses we need to learn from our mistake, change strategy and learn to read indicators, candlesticks charts, and how does the market flows. It will take months to years do not rush.

[drachman]

If you are a beginner, then only investing for a long term will suit you. Do not try to use margin trading. If you are tempted to use it, be sure to put a stop loss. Margin trading assumes that you are versed in technical analysis, so follow experienced traders on social networks and learn technical analysis yourself in parallel. And also stay up to date with all the important news in the industry.

This is what everyone newbie should do, many newbies try to become day traders without knowing that in order to become one you need to be not only very good at it but you need to be able to take decisions in a matter of seconds and that is not easy at all if you are just beginning your journey as a trader and yet many newbies try to do that and they lose their money before they get to know why this happened at all and if they happen to understand what went wrong it is too late since they have done too much damage to their capital when they get to that point.

[DevilSlayer]

If you are a beginner, then only investing for a long term will suit you. Do not try to use margin trading. If you are tempted to use it, be sure to put a stop loss. Margin trading assumes that you are versed in technical analysis, so follow experienced traders on social networks and learn technical analysis yourself in parallel. And also stay up to date with all the important news in the industry.

This is what everyone newbie should do, many newbies try to become day traders without knowing that in order to become one you need to be not only very good at it but you need to be able to take decisions in a matter of seconds and that is not easy at all if you are just beginning your journey as a trader and yet many newbies try to do that and they lose their money before they get to know why this happened at all and if they happen to understand what went wrong it is too late since they have done too much damage to their capital when they get to that point.

Day trading is not for newbies, those traders who new in the market have a misconception becayse they rhink they can easily make money in day trading. In reality, those professional trader are the one who survives for being a scalper because they have advantage in terms of experience and strategies. Newbies should focus on medium trade for them to not be surprise to the volatilitt of the cryptocurrencies. Trading is a process, we cannot begin in becoming a day trader.

[Questat]

Trading is a process, we cannot begin in becoming a day trader.

IMO, we can because we will surely gonna experiment until we improve, yes, day trading is hard but a trader if he is willing to learn and improve his knowledge its not impossible that he will be successful, it's not impossible to be successful in day trading but it's just not advisable for newbie to start with an aggressive amount.

[Janation]

Each person will have a different choice because based on their knowledge they need to decide about whether they need to hold the coin for long term or short term. If you don't have patience in the long term, better start trading them in the short term and it will help you to make a decent profit if you are well experienced.

And we are talking about a newbie here, we can't say that he is well experienced.

You are also stating that short term trading is for someone who is well experienced hence newbies here being not qualified to do it since they are newbies, right? I think you better stick to a strategy that is comfortable with you, don't mind the long or short trade if you are a newbie hence just do something that could give you profit. Better know something before using it.

[SquallLeonhart]

My biggest advice would be do not take any advice from here . I know that disagrees with EVERYONE here and I know that won't be a popular opinion but people here have their own agenda and have their own way to look at it, I am sure a lot of people here have right points as well as wrong points but it is harder to see the difference when you look at the people posting here.

If you could somehow take the correct things they said and leave the wrong ones you could be a great trader however since that is not really possible, you will take the wrong ones with the correct ones as well and do some wrong trades because of it. I personally have my own method, many people here trade different than I do, but that doesn't mean I am right neither, we are all right and wrong depending on the situations.

[ultrloa]

Trading is a process, we cannot begin in becoming a day trader.

IMO, we can because we will surely gonna experiment until we improve, yes, day trading is hard but a trader if he is willing to learn and improve his knowledge its not impossible that he will be successful, it's not impossible to be successful in day trading but it's just not advisable for newbie to start with an aggressive amount.

Yes those experimental losses is a best teacher if the person will not bored for the lose he encounter in his early stage since we will surely go to that process and it's really not impossible to be a successful trader but we need to be more passionate and willing to learn on new things since if newbies are here to gain a quick profit then they will lose.

[RealMalatesta]

You said you already have some good coins that you know are likely to increase in price if you should invest in them for long term, in about six months to one year, so I would suggest that you start with long term trading. There has been a lot of speculation that Bitcoin price will increase after the halving.

People are saying this because after the last two halving there was increase, so they are believing that same thing is likely to repeat itself and I have seen some people do some serious technical analysis to prove this. And another reason you should start with long term is because it’s easier than the other ones you have mentioned.

[puertorikosena]

I think that you think absolutely correctly. The main thing is to establish yourself a tight framework that you can’t go beyond so as not to incur big losses. Everything else will come with experience. Good luck in your trading.

[maydna]

Trading is a process, we cannot begin in becoming a day trader.

IMO, we can because we will surely gonna experiment until we improve, yes, day trading is hard but a trader if he is willing to learn and improve his knowledge its not impossible that he will be successful, it's not impossible to be successful in day trading but it's just not advisable for newbie to start with an aggressive amount.

Yes those experimental losses is a best teacher if the person will not bored for the lose he encounter in his early stage since we will surely go to that process and it's really not impossible to be a successful trader but we need to be more passionate and willing to learn on new things since if newbies are here to gain a quick profit then they will lose.

The experience of losing the money in trading will make us learn more about trading so we can trade with better, and we can also make a profit from trading. Sometimes new people are too afraid to trade because they feel that they don't have enough knowledge or skills in trading. But trust me, if you do not try, you will not know what you need to learn more, and you will not have a chance to make a profit.

He can try with little money first to see if he can understand the lesson that he learned. And if he thinks that he has skills, then he can add more money to trade, and let see if he can make a profit again or not. If he cannot make a profit, then there is something wrong with him, and he needs to learn more about analyzing the coin. Mastering trading will not happen in one night, but it will give you a chance to be a pro trader if you want to learn more.