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Author Topic: How to systematically learn to trade crypto from being a newbie?  (Read 190 times)
conex
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November 18, 2019, 04:06:23 PM
Merited by rare_designer (5)
 #1

Often wonder how would approach trading and learning crypto if i started from the begining.
Would probably grab a book/start reading this forum. What about you?

“If you personalize losses, you can’t trade.” – BK
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November 18, 2019, 04:48:26 PM
 #2

Often wonder how would approach trading and learning crypto if i started from the begining.
Would probably grab a book/start reading this forum. What about you?

I do not think any book can teach you crypto trading. If i were you, i would definitely search some basic knowledge videos about trading. It will be better if you can find a complete free video course of crypto trading.
Also i will try to get some knowledge from this forum specially the trading and speculation section.

 
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November 18, 2019, 05:00:25 PM
 #3

For a newbie, you should start pondering what they mean when they say buy low and sell high. And then observe the charts what is happening all day. This may not have more information for you but once you have some btc to use then you can buy USDT and then if the BTC dips lower you can buy BTC thru that USDT. Once BTC rise again, try converting it to USDT.  You can do this over and over til you start thinking how to foresee what could happen in the next few days. Then you read the wall observer thread and see thier indicators which you might wanna learn as well.

 
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November 18, 2019, 05:42:23 PM
 #4

In my opinion, the first thing you need to learn is how to filter information that is available to you. There is a plethora of videos, articles and posts out there on trading, but only a handful of them would be useful to you. But as a newbie, it's difficult to know which information is relevant and which isn't. You may have to depend on recommendations and reputation of those offering the information both on this forum and on external websites.
You build on knowledge and become familiar with terms and indicators.
Then you start practicing, demo is the safest means of practice for newbies to trading.

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November 19, 2019, 06:45:53 AM
 #5

Trading in cryptocurrency is a lot easier, but this thing needs a lot of practice. all of the time you will faced trials and errors. you don't need to use trading bots in your first few days of trading because this is some critical time if to learn it the hard way until you are done trading manually, then you decide if you want to contnue or not.

like any other investment method, trading requires you to have some necessary basic knowledge to start. that's why in this community we have a certain board called trading discussion. you can learn all you need there and don't be shy to ask them for anything you want to  know. lastly, remember don't use all of your money, only spend what you can afford to lose.

https://bitcointalk.org/index.php?board=8.0

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November 19, 2019, 07:48:35 AM
 #6

Would probably grab a book/start reading this forum.
Read the bitcoin whitepaper written by satoshi.
Its the first step that every bitcoin user should do but most of them miss out. What this will do is make your faith in bitcoin stronger and that helps to prevent being swayed by altcoin shills and nocoiners trying to make you sell your coins. Of course it is totally your own choice what coins to buy but bitcoin by far is the most safest of them in terms of long term holding and future aspects of acceptance and usage.

Prefer to go for a stock market trading analysis book if you wish, because there not many known bitcoin trading books out there and technical or fundamental is similar for both.

Avoid youtube channels because they do nothing but shill their own coins.

Also you can start dummy trading with virtual cash and based on that cash buy/sell as per marker quotes and see the outcomes.

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November 19, 2019, 08:26:35 AM
 #7

Often wonder how would approach trading and learning crypto if i started from the begining.
Would probably grab a book/start reading this forum. What about you?

I do not think any book can teach you crypto trading. If i were you, i would definitely search some basic knowledge videos about trading. It will be better if you can find a complete free video course of crypto trading.
Also i will try to get some knowledge from this forum specially the trading and speculation section.
Thank for advice. I'm not a newbie but often think of how would i start learning from the begining if i had to. Complete video course is the best guess.

“If you personalize losses, you can’t trade.” – BK
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November 19, 2019, 08:36:22 AM
 #8

For a newbie, you should start pondering what they mean when they say buy low and sell high. And then observe the charts what is happening all day. This may not have more information for you but once you have some btc to use then you can buy USDT and then if the BTC dips lower you can buy BTC thru that USDT. Once BTC rise again, try converting it to USDT.  You can do this over and over til you start thinking how to foresee what could happen in the next few days. Then you read the wall observer thread and see thier indicators which you might wanna learn as well.
Thank you! Getting 'hands dirty' is definitely a way to go. What do you think about trading tools which some of the platforms offer?
With trading tools i meant tools such: arbitrage, coin tracker (portfolio), whale alert?
Thank you for help!

“If you personalize losses, you can’t trade.” – BK
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November 19, 2019, 08:37:14 AM
 #9

In my opinion, the first thing you need to learn is how to filter information that is available to you. There is a plethora of videos, articles and posts out there on trading, but only a handful of them would be useful to you. But as a newbie, it's difficult to know which information is relevant and which isn't. You may have to depend on recommendations and reputation of those offering the information both on this forum and on external websites.
You build on knowledge and become familiar with terms and indicators.
Then you start practicing, demo is the safest means of practice for newbies to trading.
With demo you meant sites like Altcoin Fantasy?

“If you personalize losses, you can’t trade.” – BK
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November 19, 2019, 08:38:51 AM
 #10

Trading in cryptocurrency is a lot easier, but this thing needs a lot of practice. all of the time you will faced trials and errors. you don't need to use trading bots in your first few days of trading because this is some critical time if to learn it the hard way until you are done trading manually, then you decide if you want to contnue or not.

like any other investment method, trading requires you to have some necessary basic knowledge to start. that's why in this community we have a certain board called trading discussion. you can learn all you need there and don't be shy to ask them for anything you want to  know. lastly, remember don't use all of your money, only spend what you can afford to lose.

https://bitcointalk.org/index.php?board=8.0
Cool advice. As a beginner just entering the game i'll definitely stick to don't use all of your money, only spend what you can afford to lose.

“If you personalize losses, you can’t trade.” – BK
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November 19, 2019, 11:09:38 AM
 #11

Even though there are thousands of articles, videos and websites about cryptocurrencies and trading, I think the best option is to learn from your experience and mistakes. You can gain basic knowledge from such sources but that's not enough. The key is to observe and analyze market situation every day. It is very wide-ranging stuff and time is needed to feel comfortable in it.
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November 19, 2019, 08:03:48 PM
 #12

I am not a fan of reading books so I watch visual content especially YouTube videos. So as a beginner I advise you to follow the episodes of this channel ----> aantonop - YouTube.
This man will teach you the basics through which you can learn "How bitcoin works" and then you can read some books[1] or participate in the discussions of this forum.

[1]
 - Mastering Bitcoin for Starters
 - Bitcoin From Beginner To Expert
 - Bitcoin For Dummies

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November 19, 2019, 08:46:54 PM
 #13

You can really mix both especially most of the technical analysis books we have are all about trading stocks mixing it with TAs for cryptocurrencies could help you know the differences and similarities of both markets. Additionally if you want to focus on pure TA then there is a no better place to go then tradingview's dedicated page for each crypto since they have a community there for each crypto and all they talk about are technical analysis, but I wouldn't suggest you go here first as you wouldn't know what they are talking about if you still don't know the basics of TA.

Here is tradingview's page for Bitcoin.

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November 20, 2019, 04:25:18 AM
 #14

Often wonder how would approach trading and learning crypto if i started from the begining.
Would probably grab a book/start reading this forum. What about you?
The first thing you should do is to properly set yourself up psychologically. If you are unbalanced, have a great fear of loss or are too greedy, then do not even approach margin trading. Try strengths with a small deposit in spot trading. Do not pursue big profits, do not stretch losing trades.
And the most important rule from me is to use stoploss!

 
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mersal
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November 20, 2019, 04:56:35 AM
 #15

If you are aware of what is crypto currencies,now want to start trading crypto currency!

1) You can learn about trading in general first and learn about crypto trading which is available as e books.

2) Enter trading simulators and try to trade from yourself and apply the strategies you have learned.

3) Now move to real exchange but with very small capital then do the same things and get the real life experience.

Now you are ready to start your crypto trading career.

conex
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November 20, 2019, 10:52:22 AM
 #16

Even though there are thousands of articles, videos and websites about cryptocurrencies and trading, I think the best option is to learn from your experience and mistakes. You can gain basic knowledge from such sources but that's not enough. The key is to observe and analyze market situation every day. It is very wide-ranging stuff and time is needed to feel comfortable in it.
Agree, experience is essential. I've been trading for quite some time now but i still don't feel comfortable.

“If you personalize losses, you can’t trade.” – BK
conex
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November 20, 2019, 10:54:39 AM
 #17

If you are aware of what is crypto currencies,now want to start trading crypto currency!

1) You can learn about trading in general first and learn about crypto trading which is available as e books.

2) Enter trading simulators and try to trade from yourself and apply the strategies you have learned.

3) Now move to real exchange but with very small capital then do the same things and get the real life experience.

Now you are ready to start your crypto trading career.
Simulators are definetely a way to go together with other trading tools for starters/beginners.
Altcoin Fantasy is my favorite simulator and i prefer Newscrypto.io platform regarding tools.
All the best trading today!

“If you personalize losses, you can’t trade.” – BK
conex
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November 20, 2019, 10:56:58 AM
 #18

I am not a fan of reading books so I watch visual content especially YouTube videos. So as a beginner I advise you to follow the episodes of this channel ----> aantonop - YouTube.
This man will teach you the basics through which you can learn "How bitcoin works" and then you can read some books[1] or participate in the discussions of this forum.

[1]
 - Mastering Bitcoin for Starters
 - Bitcoin From Beginner To Expert
 - Bitcoin For Dummies
Will definitely look into it, thank 4 the link (i also prefer video content over books/reading articles)

“If you personalize losses, you can’t trade.” – BK
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November 20, 2019, 11:33:40 AM
 #19

Personally I don't prefer reading books rather I have preferred to watch some trading videos and articles daily which are on-trend. But if you want to start from the beginning then you can read this book- Mastering in bitcoin (Either you can buy this book online or else you can get the whole book on google) and you can get so much knowledge from this forum as well

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November 20, 2019, 06:04:02 PM
 #20

Terminologies, usage of coins, what does this button do this button that. That's basically the beginners guide to trading. You learn, learn, learn, then apply it by yourself. Stop letting others paint your way of trading or style of trading, find your own style which imho, results in a better experience in the future. Plus, losing a bit when starting beats losing a lot in the late game because of a strategy you only followed. I'd recommend trying virtual trading to get a feel about how to trade, but don't expect the same experience felt there to be the same in real trading. Virtual trading is more on how to let the beginner understand the ins and outs of a trading experience.

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