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

[teosanru]

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

Trading is the most difficult job in this world. But once you learn it nothing can match the comfort with which it can earn you money. My advice to you is focus on one thing. If you will go into programming you won't be able to focus properly on trading. It's a full time job and in starting 4-5 months you might have to spend over 9 hours a day studying and back testing charts. Now, let me tell you what you can do. For the first month learn trading for 5 hours and do your programming. If you find trading interesting then go full time for the second month. Learn more TA and create your setup. Then go to some good exchange like Binance or Bitmex which could give you a fancy leverage on that 300$ mark. Start with only back testing your setup multiple times and trading with a small 50$ account for first 2 months to test your strategies. Create a trade log to note the takeaway and results of each trade. After 100 trades with that $50(if somehow it still survives) find out probability of winning. If its over 70% your strategy is best transfer 300$ and start trading your strategy with good risk management strategy. This is my personal advice which I don't think anyone would tell you.

[Spaffin]

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

Trading is the most difficult job in this world. But once you learn it nothing can match the comfort with which it can earn you money. My advice to you is focus on one thing. If you will go into programming you won't be able to focus properly on trading. It's a full time job and in starting 4-5 months you might have to spend over 9 hours a day studying and back testing charts. Now, let me tell you what you can do. For the first month learn trading for 5 hours and do your programming. If you find trading interesting then go full time for the second month. Learn more TA and create your setup. Then go to some good exchange like Binance or Bitmex which could give you a fancy leverage on that 300$ mark. Start with only back testing your setup multiple times and trading with a small 50$ account for first 2 months to test your strategies. Create a trade log to note the takeaway and results of each trade. After 100 trades with that $50(if somehow it still survives) find out probability of winning. If its over 70% your strategy is best transfer 300$ and start trading your strategy with good risk management strategy. This is my personal advice which I don't think anyone would tell you.

I would like to find somewhere more detailed information so that a person who generally does not have any knowledge about trading on the cryptocurrency market, but has a certain starting capital, can understand how to take the first steps in trading and how to continue.  I’m constantly looking for information on YouTube, because visually it is much easier to understand in order to start gaining experience.  But to a greater extent, I see a video where the authors conduct trainings with such a degree of confidence, as if this information is being watched by People who already have certain knowledge, but want to improve their trading results.

[UsernameBitcoin]

Bitcoin trading is a risky proposition. Well you will likely profit most of the time, sometimes you will buy high but the market will not come back down and you will lost everything. well you won't lose everything, but you will have to re-buy into the market and you will lose some money, and it won't be good. so you should think carefully about if the risk is worth the reward for you.

[Ridwan Fauzi]

Bitcoin trading is a risky proposition. Well you will likely profit most of the time, sometimes you will buy high but the market will not come back down and you will lost everything. well you won't lose everything, but you will have to re-buy into the market and you will lose some money, and it won't be good. so you should think carefully about if the risk is worth the reward for you.

Yeah it is risky when you don't have any knowledge to do it. For me being a trader is not about buy low and sell high, but you have to know when the good time to make a decision either buy and sell. And these thing need an analyst. You will include a fool person when you start it without know how analyst is and how to trade well.  

But it will be different if you know the knowledge to trade for example you have known how to make an analyst with any market situation. I believe that is the important thin beside you have a capital to spend for trading.  Yeah and I will bet when you have known it you will know the trully risk that will be faced and you will manage it in a simple way.

[jrrsparkles]

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.

This span you have chosen is very small to see whether he can succeed or not because Trading needs time and attention you need to read learn and analyse and keep reading markets.

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

This is very hard to predict as it completely depends on your skills and efforts.

So he was supposed to make profits in short term alone,not sure he did that or not but the time frame he said was ended.

Myself it is surely possible to make profits in short term but learning complete crypto trading may not be possible.

We have to be careful with fundamental of trading to make money and we can keep learning the strategies and try it will less capital from the total capital we got for trading.

[shoreno]

For me being a trader is not about buy low and sell high, but you have to know when the good time to make a decision either buy and sell

i think both of them are still the same . knowing when the time is good to make decision is the same as knowing when to buy and sell   .  trading is really about buying low and selling high  ( e.g you enter at a dip market and you buy the coins at a low price and then you hodl them and sell them when they are pumping ) other than that , i dont think of any reasons on why we enter trading  . it does not make sense at all if you are doing the other way .


@op , dont be afraid to follow or to listen on your self because there is a good chance that you can do better on trading more than anything else . gl

[Meowth05]

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.

This span you have chosen is very small to see whether he can succeed or not because Trading needs time and attention you need to read learn and analyse and keep reading markets.

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

This is very hard to predict as it completely depends on your skills and efforts.

So he was supposed to make profits in short term alone,not sure he did that or not but the time frame he said was ended.

Myself it is surely possible to make profits in short term but learning complete crypto trading may not be possible.

We have to be careful with fundamental of trading to make money and we can keep learning the strategies and try it will less capital from the total capital we got for trading.

Excatly, it is possible to earn trading in a short time however the problem is that you must learn first the fundamentals and get some experience. If you just enter the industry without knowing nothing then I'd say that all of your capital will be in vain. By looking for the given time frame I think it you are still in the learning stage so it would be impossible for you to earn that quickly.

[AicecreaME]

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.

If you are a quick learner and a smartass person, I am sure you could do this in just a month. Do time management, set how many hours you want to spend in reading and watching about Trading, set how many hours you want to spend applying it, last but the most important, spend also time with yourself, I know it is hard living alone and not having an income, but you have to take care of yourself still.

There is a quote I've read yesterday saying "If you will not spend time for your wellness, you'll be forced to make time when you are sick" and that hit me so hard, working hard is not bad, but working too much is.

[michellee]

If I were him and I have $300, I will buy bitcoin first, then eth, bnb, atom, grin, and some other low coins price. I think that is enough to get some amount of each coin and I can wait for another time. I don't just hold each coin, but I will sell the coin if somehow the coin can increase higher at least 10% from the price before so I will have the opportunity to buy back the coin in a low price. The bearish market now gives a chance to us to buy as many coins as we can, and that will depend on the money we have.

For the amount of $300 its somewhat hard to diversify into various number of alts in the market.I would rather focus directly or all put up into bitcoin or ETH with this case even just simply holding up you can earn various percentage profits depending on your entry point.Yes there were lots of coins in the market it will depend on the money we would able to risk out.We can start up trading if we do like but it is much wiser if we do trade up with small amounts and dont ever use up on to those capitals or money that you had been borrowed or simply your savings.

It depends on the coin you want to buy. As long as you can buy a low price coin with the potential to increase, you can make a profit later. But that will not work if you purchased a high price coin because you are hard to make the profit. Sometimes, the low price coin can increase 2-3 times from the last price, so if we can buy a large amount, and we can make a big profit too. That is a solution for people who don't have a large amount of money, but they want to try to make a profit.

[ChrisPop]

First of all who is your friend that recommended you to start cryptotrading? What's his occupation? I have a rule that I don't take advices from people who are not where I want to be in life.
Then do you acknowledge that $150-$250 in a month is almost 2X your capital in 1 month? You know that the best traders make steady 20-30% returns per YEAR. Learning to trade consistently profitable is one of the hardest things you can do in this world as it requires a lot of mental preparation. As the saying goes you need 10,000 hours of looking at the charts to become an expert.

[jrrsparkles]

~....~
Excatly, it is possible to earn trading in a short time however the problem is that you must learn first the fundamentals and get some experience. If you just enter the industry without knowing nothing then I'd say that all of your capital will be in vain. By looking for the given time frame I think it you are still in the learning stage so it would be impossible for you to earn that quickly.

Only one thing is enough to start trading for any one "Buy low and Sell high",by following this itself anyone can make profits.

People hear something about more profits from crypto trading so they come here and expecting to be a millionaire in over night which will not happen to be honest but people who don't realize it start blaming crypto trading profitability.

[Polar91]

Nothing is impossible in making profit in trading. However, a trader shouldn't be expecting certainly for his trading profit and his activity since your activity depends on the market movement and your trading strategy at the same time. Sometimes they don't work as what you planned thus you have to imporivise which differs a professional traders to common traders.

[KnightElite]

It is really worth it to trade if you fully understand the whole cryptocurrency market. Trading is not an easy task because it requires a lot of strategies and studies that you should use before you can increase your capital.

[cosmofly]

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

Yes, you can make money even if you spend 3-5 hours a day. but make sure you have market knowledge as well as TA knowledge. That will make you a lot of money if you anticipate the right direction of the market. Margin trading is a type of trading that helps you earn a lot of money in a day. You should try in Bitmex or Bitmax exchange.

[jmigdlc99]

Personally, i'd recommend going for the full time job.

With all the abundance of responses, i had hoped that the topic starter would return and give us an update on what he did with his life. Would be interesting to see if like other people he was able to use leverage trading and turn his $300 to some crazy number like $300,000. Well, it's quite a longshot but theres always this chance of getting lucky.

[PuertoLibre]

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

Yes, you can make money even if you spend 3-5 hours a day. but make sure you have market knowledge as well as TA knowledge. That will make you a lot of money if you anticipate the right direction of the market. Margin trading is a type of trading that helps you earn a lot of money in a day. You should try in Bitmex or Bitmax exchange.

Instead of throwing a free BTC to the Bitmex, I suggest learning about financial security for the rest of life. After having enough practice with the demo accounts, it will be the same experience rather than wasting time with emotional trading on the margin trading accounts. It will turn to the sports betting if there is a skill for analyzing the market conditions and having a proper technical, fundamental research ability IMHO.

[pinggoki]

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

It is still worth to start trading Bitcoin and it all ways will due to that fact that bitcoin is fluctuating so even if you purchase now you can still able to get a high return in the future however, the problems is the time. As what you have mention you only have a month to trade which is not enough if you have no idea in the industry. It takes a lot of time in order to gain knowledge and experience which is the most important thing unless you have already familiarize in this transaction.
With regard in you can able to trade while doing programming, I think we should leave the decision for you because you owns your time you are the only one who can manage it.

[Mpamaegbu]

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.

It seems you've your eyes already set on the expected profit. This thing doesn't really work out like that, at least most times it doesn't. Set your mind on learning the techniques involved in trading before counting chicks that haven't been hatched. Trading is very lucrative once you acquire the set skills and this I encourage you to do. Besides, there is always that caveat at the bottom of trading sites and exchanges alerting you of the risky nature of trading. You can easily lose your capital too just the same way you can double it.

[doomistake]

sometimes you will buy high but the market will not come back down and you will lost everything. well you won't lose everything

I am definitely confuse right now, what you have said is so contradicting thusly doesn't make sense at all.

sometimes you will buy high but the market will not come back down and you will lost everything

correct me if I misunderstood your post but I think this is a good news after all, buying in a certain amount then suddenly "the market will not come back down" means that it goes up (obviously), the next thing would happen would be that you made profits because you bought at the right moment. It is up to you what next move you are going to make to make even more profits more than what you have at the moment.

but you will have to re-buy into the market and you will lose some money, and it won't be good.

Re-buying altcoins that you will use on Trading is not a loss for you, it is an investment,  you buy therefore you are holding an amount of money that could be double or even triple when you get lucky if the market continue to rise.

[lobeyou]

I have spare $300 that my friend suggested to use to start cryptotrading, as this is the maximum amount of money affordable to lose.

Currently I don't have income and I have three ways to set it: cryptotrading, freelancing as programmer, or full-time job.

It seems to me that you actually can't afford trading momentarily.

Probably the best advice you will ever get is don't trade when you're in a tough financial situation. Especially if you're just starting out: this is the worst time you could begin this journey.

Think long-term and don't chase a quick buck. 30 days is not a long time so you would probably put unnecessary pressure on yourself if you were to trade with a deadline.

Unless..

You secure at least 1 source of income, like a job or something. Then use your free time to study trading and maybe test out some strategies. When you're comfortable deposit a small amount of money. See what changes in your mindset and what you feel when in-trade. Can you do it? Repeat until you're sure. Let it accumulate. Your position sizes will grow exponentially. Happy? Quit your job. Congrats, you're probably in the top 5% by now.

Did that take 30 days or less? Ah.. nope.

Good luck!