Is it worth for me in my situation to start btc trading?

[1R1S]

Hello

I have spare $300 that my friend suggested to use to start cryptotrading, as this is the maximum amount of money affordable to lose. I have a month of free time to trade with btc. Currently I don't have income and I have three ways to set it: cryptotrading, freelancing as programmer, or full-time job. I chose to expirement and try luck with trading and freelancing, if there is no success with any for september, I will choose full-time job. If I can make about $500 per month with all of these methods or some of them, I can forget about job for a while, which is highly preferrable.

So my questions are:

• Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.
• Should I start trading on OTC exchange or regular exchange? I tried bisq to sell btc, but it seems like there you can do it with rather huge amounts of money I can't afford to make offer with. This is because of security deposit of 50% of trade amount. Maximum offer amount I can make is 150$ whereas there are more offers which range $100-$1000. They also seem more profitable for btc buyers due to less interest, than that I chose. After scrolling thorugh bitcointalk, my only options left for OTC are localbitcoins and paxful. And I don't really like any of these because of shitty customer support on both. Moreover LBC nowadays has attitude to KYC everyone, I don't like it because I would keep my personal information than send it to someone

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[harizen]

Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.

Yes, you can. You are the one who knows how to manage your time better than us so I think you can work on both. Just don't set target profits as it might give you expectations.

Should I start trading on OTC exchange or regular exchange?

Trade on a trading platform e.g Binance. That's where you can see a real trading action.

No need to undergo KYC here since you hate it. No shitty support here since you hate it. However, like in any reputable exchanges around, we can't take away the risks of placing funds here. But for now, we are minimizing the risk so stick with the reputable one.

I have spare $300 that my friend suggested to use to start cryptotrading, as this is the maximum amount of money affordable to lose. I have a month of free time to trade with btc. Currently I don't have income and I have three ways to set it: cryptotrading, freelancing as programmer, or full-time job. I chose to expirement and try luck with trading and freelancing, if there is no success with any for september, I will choose full-time job. If I can make about $500 per month with all of these methods or some of them, I can forget about job for a while, which is highly preferrable

Yes, you really need to undergo some test and not just a plan to see if it's effective in the long run.

However, earning in trading is not on a regular basis. You can't just expect that wind will always head to the way you want. There are chances that you will have no income for the month of September but you will have a decent one in the following months. As I said above, don't set a given period where it's necessary to earn. It's not how trading should be. It might wreck your strategy if you keep on targeting fixed earnings on a monthly basis. Focus on maintaining winnings instead.

[dunfida]

Not necessarily need for you to put up the maximum amount $300 on start up.

If you are a complete newbie;If yes then start up the basics- I suggest babypips.com
Then try up some amounts on Binance not necessarily shoot up all of your intended capital since you can trade with smaller positions.

Regarding on your question; you can possibly make $100-200 out of 300 but this will really need some intensive scalping method and more on short trades
and these methods of trading cant be learned overnight.

[leowonderful]

It's especially important not to set targets for yourself if you're starting out trading IMO- you're just putting too much stress on yourself and that doesn't typically work out too well if you don't know very much. Read up on relevant trading material as much as you can every day, and then use your money to apply what you've learned. There's plenty of info out there for you to read up on, and you don't need to get your information from any one source. Here's a link to one of my favorite Medium authors.

I would also strongly suggest you start trading on a regular trading site like Binance or GDAX or perhaps KuCoin as well. Those are just a few exchanges that a lot of people use, and they should be good enough for you. I would suggest staying away from leverage until you become more experienced at trading, as leverage is a double-edged sword that can empty your account in just a few trades.

[Hypnosis00]

Have you felt that you are ready for the risk that you might experience in the coming days? Or are capable of doing it? If you are all set, then you can start it now. Cause it is not all about money, small or huge capital...its all about our preparation. See to it that we are willing to risk and not just stepping it back once we struggle difficulties cause it never meant to be as a trader and definitely you can't find success with that.

[dark08]

I want you to know that trading cryptocurrency is not easy as you imagine but if you feel you are ready to take step for becoming a trader yes you can make a profit in a short period of time but in other side you can lose money by short period of time.
You need to take experience to tell if you can make a money by doing trading.

[nydiacaskey01]

• Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.

I started with just $150 but it took me quite sometime before I get the hang on trading Crypto Currencies. At one point 1 almost lost that $150 and have to start over again but in trading if you give up that easy then trading is not for you. Its continuous learning process if you ask me. Not all trades are the same. Try to keep a journal of your mistakes lie what should have done and what you should have not.  3-5 hours is juts enough to trade but if you will be offline and you still have a coin that you feel needs your attention, try to place a stop loss order.

[vintages]

SELLING MY PATEK PHILLIPE NAUTILUS 5726 white dial, box and papers.Accept any cryptos.Good investment.

This is not for this thread, take it to the Marketplace section. Or better still go the Beginner section https://bitcointalk.org/index.php?board=39.0 to know how things work in the forum.

OP, truth is Bitcoin and cryptocurrency trading is not for every one. Its a good thing you want to learn before it before jumping into it unlike some traders.
Be aware and be ready to forgo that $300 as anything can happen.
Know that income can come at times and sometimes you lose more besides I think $300 is a small amount that can't give you $500 per month. Truth is you may not make up to that per month or else if the market moves in a positive direction.

[perla]

I think with $300 i will prefer on Bitcoin-altcoin trading, beside we can use small capital on it, usually exchanges that allow trade between bitcoin and altcoin not really strict and maybe KYC will only to increase limit withdrawal. And in altcoin trading, you can see movement price that you can put what is fit with your style. Like to day trading or maybe long term investment. That is at least what i will do with my $300 free money. And if lose, i will pick on full time job. Wouldn't dare to left my job and focus on trading only because we can't know when trading will on bad condition.

[Slow death]

Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.

I will be very realistic with you, you can learn how to trade, but don't expect that you will trade with $300 and you will make a profit of $100 to $250 per month . It may be 30 days, and you only have a profit of  $30 or even no profit at all.

look at the current price for example:

The price is at $9500, so you buy thinking that the price is too low and tomorrow the price drops to $ 8500. you will have to wait for the price to rise again to sell.

I advise you to buy and Hold for 1 year or more years

[Janation]

It is enough but don't expect too much.

Bitcoin is volatile, and I am telling you, it is hard to cope with it. Minutes after you invest, there might be a decrease so it is better if you just hold it for some time. Be patient since you are dealing with the most volatile cryptocurrency in the market.

[binhvo1505]

I think you should only focus on one job if you want to be rich in the future. In the crypto market, you will hear someone making hundreds of thousands of dollars in just a few days. but you don't know that behind the truth, there are thousands of people who lose money, even lose everything because of the small loophole.
Here, there are many big risks that you need to be aware of.
Please determine whether you are ready to face the pressures yet, you have prepared sufficient knowledge yet.
If you were good at the above questions, I wish you luck

[EdenHazard]

Start/ setting up your own business is always risky ... that's what always happened in a business world .. if you looking for a safe one then you should go for a full time job that gives you a steady flat income. At this point you should know the risk to become a full time freelancer & trader.

I personally have a principle like this 'i don't work for other people, i work for myself' so here i am building my own startup. You might won't get a steady $100 , $300 or $1,000 income ... but you'll never know someday you might get thousands dollar weekly !

That's a business life, it's okay for you to failed 100 times and having a huge loss! you just need to be successful once and you'll eliminated your previous 100 times fails &  losses.

But once again , you should know the risk and willing to take that risk, otherwise you have to be realistic and living a normal life like everyone else. Cheers!

[NeuroticFish]

If you only have one month, I'd advise you only play with smaller amount to see how it goes.
Or buy 300$ worth of Bitcoin, hold some and trade with some.

Since you have no experience, it can be closer to gambling (!) what you'll do at start, so you will have gains and loses too and you may need to have at hand some extra funds to "replenish".
Also history has shown that holding is not a bad strategy if you have the patience for it.

[1R1S]

I think with $300 i will prefer on Bitcoin-altcoin trading, beside we can use small capital on it, usually exchanges that allow trade between bitcoin and altcoin not really strict and maybe KYC will only to increase limit withdrawal. And in altcoin trading, you can see movement price that you can put what is fit with your style.

I believed trading with altcoins is even more risky than btc trading. Bitcoin is quite established in market and its price is less volatile as I think. Most of altcoins are new and nobody knows, or give convincing reasons, what their price will be. It is more like total lottery for me, with btc I am sure its price won't fall to nothing, I can't tell the same about altcoin. How much is trading with altcoins similar to btc trading?

Btw what is difference for me to trade on OTC exchange and regular exchange? I can set price + my interest rate on any platform, and it looks like I can trade offers with small btc amount on OTC.

Since some of you trade or traded with crypto, how much time did it take for you to earn money when you realized learning trading was worth it? That is, when did trading start to generate somewhat serious income? Note this is not about stable income

[exstasie]

Beginning traders shouldn't come into this with profit expectations at all. In fact, you might need to lose your $300 bankroll a couple times before you really get the hang of it. Not only do you need to have a knack for trading (not a given), you also need time to develop your skills and a profitable trading system. This won't happen overnight.

I will be very realistic with you, you can learn how to trade, but don't expect that you will trade with $300 and you will make a profit of $100 to $250 per month . It may be 30 days, and you only have a profit of  $30 or even no profit at all.

Without leverage, it would be tough....at least with Bitcoin's current low volatility. With leverage, he'd probably blow up his account and walk away with nothing. So yes, I wouldn't plan on making $100 to $250 per month just yet.

[semobo]

You can learn crypto trading even while doing a full time job so just go for $500 salary job and then invest $300 into trading like buy bitcoin and trade it against the shit coins to get more profits,or you can also try with stable pair which might looks profitable but highly risky as well.

[pawanjain]

Hello

I have spare $300 that my friend suggested to use to start cryptotrading, as this is the maximum amount of money affordable to lose. I have a month of free time to trade with btc. Currently I don't have income and I have three ways to set it: cryptotrading, freelancing as programmer, or full-time job. I chose to expirement and try luck with trading and freelancing, if there is no success with any for september, I will choose full-time job. If I can make about $500 per month with all of these methods or some of them, I can forget about job for a while, which is highly preferrable.

So my questions are:

• Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.
• Should I start trading on OTC exchange or regular exchange? I tried bisq to sell btc, but it seems like there you can do it with rather huge amounts of money I can't afford to make offer with. This is because of security deposit of 50% of trade amount. Maximum offer amount I can make is 150$ whereas there are more offers which range $100-$1000. They also seem more profitable for btc buyers due to less interest, than that I chose. After scrolling thorugh bitcointalk, my only options left for OTC are localbitcoins and paxful. And I don't really like any of these because of shitty customer support on both. Moreover LBC nowadays has attitude to KYC everyone, I don't like it because I would keep my personal information than send it to someone

You can do a combination of these activities. I have seen people do it and you can try it as well. Since you are keen with programming as a freelancer here is what you can do.
Do some freelance projects in crypto and ask for payment in bitcoin. It is hard to find such projects but once you get it you are good to go.
You will improve your skills and at the same time get paid for it in bitcoin. Invest the amount you receive into trading and earn more profit.
Don't invest everything you earn. Save a percent of your income in bitcoin and invest the rest and earn and experiment with it.

[bitbunnny]

Hello

I have spare $300 that my friend suggested to use to start cryptotrading, as this is the maximum amount of money affordable to lose. I have a month of free time to trade with btc. Currently I don't have income and I have three ways to set it: cryptotrading, freelancing as programmer, or full-time job. I chose to expirement and try luck with trading and freelancing, if there is no success with any for september, I will choose full-time job. If I can make about $500 per month with all of these methods or some of them, I can forget about job for a while, which is highly preferrable.

So my questions are:

• Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.
• Should I start trading on OTC exchange or regular exchange? I tried bisq to sell btc, but it seems like there you can do it with rather huge amounts of money I can't afford to make offer with. This is because of security deposit of 50% of trade amount. Maximum offer amount I can make is 150$ whereas there are more offers which range $100-$1000. They also seem more profitable for btc buyers due to less interest, than that I chose. After scrolling thorugh bitcointalk, my only options left for OTC are localbitcoins and paxful. And I don't really like any of these because of shitty customer support on both. Moreover LBC nowadays has attitude to KYC everyone, I don't like it because I would keep my personal information than send it to someone

You can do a combination of these activities. I have seen people do it and you can try it as well. Since you are keen with programming as a freelancer here is what you can do.
Do some freelance projects in crypto and ask for payment in bitcoin. It is hard to find such projects but once you get it you are good to go.
You will improve your skills and at the same time get paid for it in bitcoin. Invest the amount you receive into trading and earn more profit.
Don't invest everything you earn. Save a percent of your income in bitcoin and invest the rest and earn and experiment with it.

This is a good advice and strategy but it might take a while when he finds the project and get paid. Maybe he could also try with some selling stuff for Bitcoin and the payment invest further. It's not big amount but it's good to start and to get some knowledge and experiences. Also if he doesn't make a profit he will not be so disappointed.

[Oilacris]

Hello

I have spare $300 that my friend suggested to use to start cryptotrading, as this is the maximum amount of money affordable to lose. I have a month of free time to trade with btc. Currently I don't have income and I have three ways to set it: cryptotrading, freelancing as programmer, or full-time job. I chose to expirement and try luck with trading and freelancing, if there is no success with any for september, I will choose full-time job. If I can make about $500 per month with all of these methods or some of them, I can forget about job for a while, which is highly preferrable.

So my questions are:

• Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.
• Should I start trading on OTC exchange or regular exchange? I tried bisq to sell btc, but it seems like there you can do it with rather huge amounts of money I can't afford to make offer with. This is because of security deposit of 50% of trade amount. Maximum offer amount I can make is 150$ whereas there are more offers which range $100-$1000. They also seem more profitable for btc buyers due to less interest, than that I chose. After scrolling thorugh bitcointalk, my only options left for OTC are localbitcoins and paxful. And I don't really like any of these because of shitty customer support on both. Moreover LBC nowadays has attitude to KYC everyone, I don't like it because I would keep my personal information than send it to someone

You can do a combination of these activities. I have seen people do it and you can try it as well. Since you are keen with programming as a freelancer here is what you can do.
Do some freelance projects in crypto and ask for payment in bitcoin. It is hard to find such projects but once you get it you are good to go.
You will improve your skills and at the same time get paid for it in bitcoin. Invest the amount you receive into trading and earn more profit.
Don't invest everything you earn. Save a percent of your income in bitcoin and invest the rest and earn and experiment with it.

This is a good advice and strategy but it might take a while when he finds the project and get paid. Maybe he could also try with some selling stuff for Bitcoin and the payment invest further. It's not big amount but it's good to start and to get some knowledge and experiences. Also if he doesn't make a profit he will not be so disappointed.

We cant still say that he wont able to seek up jobs for too long.This will depend on how he do apply for a job online as a freelancer
and depending on the skills and portfolio he do have.

Actually its quite a bright idea to earn up btc payment out of your works and then use those funds to make some side trades apart from your job
but also come to think that this will require some strict time management because trading cant really be rushed up if you do really like to learn and make
profits with it.