Trading for Beginners?

[Aggressive]

HI,

Over the years I've acquired around a few hundred dollars worth of bitcoin. I'm now looking to sell off part of my coins and start trading on the side of what I do personally for work. I was in the bitcoin scene awhile ago but i'm looking to get back into it. My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

Regards,

Kyle aka Aggressive

[1715286088]

1715286088

[1715286088]

1715286088

[1715286088]

1715286088

[1715286088]

1715286088

[1715286088]

1715286088

[CodyAlfaridzi]

My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience?[/size]

Do's: Have a clear trading plan in mind for each trade you're about to make, this includes: target price, stop loss, risk well defined. It would also be good if you start a trading journal so you can review and evaluate your trade plan.
Don't: Don't overtrade. Don't be emotional. Don't get overleveraged.

If you want some experience first, I recommend you to try on a testnet/virtual trading (Bitmex have that) for some time, try to work on a strategy, etc. So you don't lose money while still learning.

[Yatsan]

Lot of replies here will be buy low sell high LOL,

I will give my honest advice for you. If you want to start trading, start with a small amount of money, experience is the number one teacher in trading, don't listen to anyone! develop your own skill and strategy in trading considering that every individual have different approach to it. As time passes by, make your capital bigger as long as you are ready for it. Make sure you are satisfied with your skill and strategy so that the risk for every trade that you will make will be lessen.

Trading is war of strategy and mind, don't be greedy, set your goals straight! as long as you are following what you want trading will be good to you. If you lose don't stop there's a time in every trader or in majority of the trader that they became broke because of trading. If that scenario happen to you, don't stop! and remember your goals. Trade everyday and make it your passion. Trading is a good source of income as long you know what you are doing.

[iamaruf]

What are the DOs and DONTs of bitcoin trading?

My answer is bon't be panic and don't believe anyones prediction.Many Newbies fail because of panic and they always hear trader prediction.So many lost money for following signals groups and cried.Better do your own research and try to grow slowly. 

[MURONDI]

learn first if you are really new to trading, bitcoin trading is something that is very risky, do not be easily tempted by the results of other people's trades without seeing the process, if you really understand trading you can start, but don't invest all your money, there are many places to trade btc that are popular and have a fairly good reputation, for example binance, coinbase, or you can do your own research on google.

[TitanGEL]

Lot of replies here will be buy low sell high LOL,

I will give my honest advice for you. If you want to start trading, start with a small amount of money, experience is the number one teacher in trading, don't listen to anyone! develop your own skill and strategy in trading considering that every individual have different approach to it. As time passes by, make your capital bigger as long as you are ready for it. Make sure you are satisfied with your skill and strategy so that the risk for every trade that you will make will be lessen.

Trading is war of strategy and mind, don't be greedy, set your goals straight! as long as you are following what you want trading will be good to you. If you lose don't stop there's a time in every trader or in majority of the trader that they became broke because of trading. If that scenario happen to you, don't stop! and remember your goals. Trade everyday and make it your passion. Trading is a good source of income as long you know what you are doing.

That is correct, you cannot find a useful information through posts in this forum. They will keep saying you must buy low and selling high. In order for you to become a successful trader, you must first identify if you can take the risks. You should aware that your money is not safe in trading and you should be prepare in any kind of situation that may happen. Increase your knowledge and experience. It is good if you will just start in small amount of fund before you put a lot of money. Masters the basics in order for you to habe knowledge that you can use ti multiply your funds.

[thisnewcoin]

Start trading with a small amount of money what you can lose gladly! Study about the market, try to learn how to analyse the price chart and then pick a strong coin to start trading. Add your picked coins in Blockfolio, follow their twitter page and turned on the notification to get every update news. Don't be greedy, take a small profit at first and try to spread out in several coins.

[Wexnident]

Study the market basically. Always consider every possible movement of the market, and prepare a route of attack and defense for every movement. Sure, it may be a hassle, but if you want to profit, some things are inevitable. If you want to try trading, go look up some virtual trading sites that let you practice trading in a span of time. They may not provide the best and accurate experience of trading, but it'll do. Just don't expect to become a godly trader after finishing the activity though.

There's also reading the FUDS and FOMOS around the cryptoscene, and determining whether they'd actually happen or not. You can also try and not believe in them, but compiling analysis isn't of a bad thing.

[CryptoCoen]

Study the market. Since the price of Bitcoin is extremely volatile, it’s important to check its conversion rate in real-time. This will ensure you don’t end up buying or buying or cashing in at the wrong moment.

So the first step is to ensure the timing is right – and that’s where a Bitcoin calculator comes into play. This is essential since Bitcoin calculators show they how much Bitcoin you’ll get for your money. Second, you need to choose the right Cryptocurrency exchange. Important is to find an exchange that supports your chosen Bitcoin trading pair.

On for example https://www.bitcoin-converter.com it is easy to calculate the current Bitcoin price and follow price movements on all major bitcoin exchanges at one glance.

[CryptopreneurBrainboss]

My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful.

You can easily get the answers to the question you seek by doing some online research either by searching directly on the forum or making use of Google. Don't get me wrong as I'm not trying to discredit what you have just done, which is also a form of research (question asking). But my recommendation above would had given you a move faster response. The most important advice any newbie wanting to engage in trading should have is getting enlighten (educated, informed etc) with the necessary skills required to succeed as a professional trader.

After acquiring those skills, next is mastering the act of controlling your emotions. If you're the type that can be easily influence, you first have to learn how to deal with that problem before thinking of engaging in cryptocurrency trading since it's a very emotional market govern by FOMO and FUD. Do understand that as a beginner, it won't be an easy first experience especially when the profits aren't coming as expected. In scanario like this you have to try different trading strategy until you get the one that suits you. Also, never overlook the importance of money management as it's very vital.

[Dart18]

Dont's.
If you are trying to make profit out of BTC and not USDT then try making the most of it.
Most of them traders are being driven by the amount of USD they make. Forget about that.
BTC will get higher in time. Try to accumulate more of it starting now.

[iamsange]

A lot of people say about don't panic. Because control our emotion is really important and when your emotion control is break, every strategy wouldn't really work anymore. That is why each trader beside have their strategy, important thing that must have is control emotion.

[davis196]

I was in the bitcoin scene awhile ago but i'm looking to get back into it

You were "in the bitcoin scene" in the past and you are asking newbie questions now?This is weird.
If you have traded bitcoins in the past,you should already know the basics.Bitcoin trading haven't changed at all.
Just don't panic and HODL,if the price drops suddenly.This is rule number one.Everything else will be fine.
What do you mean by "bitcoin trading"?Trading BTC for altcoins on some crypto exchange,or selling bitcoin for fiat on websites like Localbitcoins and Paxful?Those two are completely different niches of bitcoin trading.

[panganib999]

Be yourself. Listen to others but don't take them to be true always. Listen, and absorb their knowledge, and make it your own by correcting anything you see as wrong. Take your own path. Study youtube videos and Trading analysis in the numerous forums out there. Since you've been in the scene before, I'd suppose you already have the basics down. You just need a bit more reinforcing for your foundation to come back, so no stress. Studying charts and analyzing may be a pain since you just came back, but as someone experienced, the feeling should come back quite naturally.

[joeperry]

was surprised by your font size  but anyways i recommend to never listen to anyone here without doing your own research some of the people will say to buy at low and sell on high which for the newbie will not understand "Where the heck is the low and high on the market" you get my point right? first start on the basic which is familiarizing the market how the buy and selling works, the market interface, etc.

After that you can now start learning by reading articles on how to read the market start with the "Support and resistance" topic "candle stick" and "trend lines" you can find it online and after that if you're not so sure about the information you've got, try applying it to a simulation market you can find online a simulation market on where you can use a token (not a real coin) to test your strategy and learning and if you think you've got it then you're good to go to the real market.

[GreatArkansas]

First, welcome to trading world.
Trading is risky, I think you already aware of that?
Before you execute your first trade, you should now first some basic fundamentals of trading just like support & resistance, etc.
And learn first how to use stoploss, stoploss is one of the best weapon in trading, believe me and have stoploss everytime when you do trade.

[watergold]

Start trading with a small amount of money what you can lose gladly! Study about the market, try to learn how to analyse the price chart and then pick a strong coin to start trading. Add your picked coins in Blockfolio, follow their twitter page and turned on the notification to get every update news. Don't be greedy, take a small profit at first and try to spread out in several coins.

Good tips, friends, in essence, we should not be emotional when the market is down because it is common in trading and must be able to control the controls and the market situation that is happening in trading, it requires good skills and remain calm despite the many Fud news.

[posi]

HI,

Over the years I've acquired around a few hundred dollars worth of bitcoin. I'm now looking to sell off part of my coins and start trading on the side of what I do personally for work. I was in the bitcoin scene awhile ago but i'm looking to get back into it. My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

Regards,

Kyle aka Aggressive

First of all, this current market momentum is the perfect season to learn how to trade crypto but the DOs and DONTs of crypto trading are many and cant be understand all at once for crypto trading is a scheme where you learn everyday. But you needed the most as the perfect guide to make profit is choosing the right coin, dont invest in many coins which will be hard for you to manage, knowing the time to enter and exit the market. And, you must use trading bot you need to understand to calculate the cost and how to use the bot to manage your coin successful.
In the mean time, i will advise you to do the long trading while you study online how to make use of the FA and TA analysis.

[LUCKMCFLY]

~snip~

If you do not have much experience in Trading, it is best to study before entering the market, it would be advisable that after acquiring some knowledge you would make an account with fictional money and test your plan.

You need to be clear if you want to do long-term, medium or short-term trading, and if you really want to be a market or Investor speculator, and most importantly, don't believe that trading will make you rich overnight. It is better to see trading as a business.

[Meowth05]

Besides using the idea of BUY and SELL which is very common yet one of the simplest fundamentals in this field there is an experience you have to obtain. Experience if the most important thing you need to obtain in order to be an efficient trader. Since you have enough amount of money just like what you have said try to use few of it to practise and gain experience. If you encounter any loss upon your trade don't be down but rather absorb it all, this can be used as a guide or as a learning to improve your trade. One thing, all the info you can find in this forum or everywhere can be used as a guide and tips but don't rely on it too much, have your own strategies and work on your analysis.

[nutella_11]

learn first if you are really new to trading, bitcoin trading is something that is very risky, do not be easily tempted by the results of other people's trades without seeing the process, if you really understand trading you can start, but don't invest all your money, there are many places to trade btc that are popular and have a fairly good reputation, for example binance, coinbase, or you can do your own research on google.

Yes, I agree with that statement that it's good to learn before investing. Gain some knowledge before you decide to buy or trade cryptocurrencies. There is a lot of great and professional content on the internet, for example on some forums (like this one) or on YT. Some time ago I discovered great channel on YT, it's called "SideChain Podcast" so you can check it out, I'll leave you the link to their newest video:https://www.youtube.com/watch?v=83JnxuUUJ5o&t=2305s.

[Kimi80]

My basic rule is to not trade with all of your money. I do not mean to stay the part of your dollars on side. I mean to set different sell/buy orders.
For example, you have 200$ and you wish to trade bitcoin. The main rule of trading is to buy cheap and sell expensive, right? So, looking on current price of bitcoin I would set such orders for buying as 50$ for buying Btc per 8350, 50$ per 8300, 50$ per 8250 and 50$ per 8200.
You never know how the price will behave itself, currently bitcoin is going deeper and deeper. If you buy bitcoin buy current price and its go deeper you stay in minus. So better to open several orders for such issues. It also works with the situation when bitcoin is raising.
Also to that you can close your orders if the situation on the market will change.

[iqronik]

Using various tools and helpers can also be useful, especially for beginners. Find for yourself a convenient market scanner, advisor like coincyborg, position size calculation, portfolio watcher like blockfolio and so on, you'll definitely see some improvements in a short amount of time And make at least a few hundreds trades first using small orders or paper trade until you get used with user interface of your exchange or bot or some trading platform etc. And don't forget to read some TA books

[Bim abk]

Using various tools and helpers can also be useful, especially for beginners. Find for yourself a convenient market scanner, advisor like coincyborg, position size calculation, portfolio watcher like blockfolio and so on, you'll definitely see some improvements in a short amount of time And make at least a few hundreds trades first using small orders or paper trade until you get used with user interface of your exchange or bot or some trading platform etc. And don't forget to read some TA books

for beginners it would be more recommended to try a lot of trading with small funds and also read articles that have been made by experts. and so far the tools on the market have helped a lot and we can take advantage of it, so far it depends on the beginner himself who can adapt.

[djmixen]

My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience?[/size]

Do's: Have a clear trading plan in mind for each trade you're about to make, this includes: target price, stop loss, risk well defined. It would also be good if you start a trading journal so you can review and evaluate your trade plan.
Don't: Don't overtrade. Don't be emotional. Don't get overleveraged.

If you want some experience first, I recommend you to try on a testnet/virtual trading (Bitmex have that) for some time, try to work on a strategy, etc. So you don't lose money while still learning.

Was all these sir already proven and tested to you? And one more thing I heard a lot of things about in Bitmex where it most often used by those people who scam others, I don't know if they are just only using the name of the platform to find a victim here in crypto, that's is why I am asking you Sir.

[plvbob0070]

Learn to read more articles about trading and focus on having basic knowledge about it.  You can use it as your weapon when you conduct your first trading. Then you should learn how you're going to risk your money because when it comes to this field it's full of risk and to be a good trader, you should be a risk-taker to gain good profit. However, if you are a newbie I highly advise that you should put some of your time to read articles and watch some tutorial videos and do not be aggressive to earn income because it takes time to earn and learn. I also see that some member talks about their experiences and speaking of it, having different experiences in trading might be the key to have successful trade and you should also know that all traders also face failure that's why even if you had a bad experience on it maybe use it as your powerful weapon to become good and a wise trader. Just keep on learning and always do some practice with small capital.

[angrynerd88]

Mostly said that,Trading is not for everyone and its a reality being realistic should accept the truth.Newbies come and start trading even dont know the charts and at the end loose all.Before to start trading ask yourself either you are good at trading or not and if you have passion for trading then go with trading because passion bring knowledge and stamina and it take to success.

[Ryker1]

Well, I suggested here that you dont rely upon suggestions. You will find the right answer if you are doing research and watching a video with regards to trading techniques and strategies. Probably try to visit the E-Toro exchange platform because the have a feature of copy-pasting from expert traders. You will probably learn but this only a suggestion, dont take as financial advice. Indeed, there's nothing way to bypass the trading activity without knowledge you have to learn, --don't be in hurry, remember that going into the battlefield must be in prepared to avoid possible loss.

[d.kevin29]

Well, I suggested here that you dont rely upon suggestions. You will find the right answer if you are doing research and watching a video with regards to trading techniques and strategies. Probably try to visit the E-Toro exchange platform because the have a feature of copy-pasting from expert traders. You will probably learn but this only a suggestion, dont take as financial advice. Indeed, there's nothing way to bypass the trading activity without knowledge you have to learn, --don't be in hurry, remember that going into the battlefield must be in prepared to avoid possible loss.

If your suggestion is that we shouldn't rely upon suggestions, should we rely on yours? 

Copying (or following, however it's called) top traders from eToro doesn't teach you anything, or am I mistaken? You're only following the actions of the best traders, it's not you deciding when to buy & sell anything so you're basically getting 0 experience out of this auto-trading thing. I'd rather go deposit $10 and trade by my own while learning how to read & predict charts than following a stranger's moves. Might miss a few months or an year of trading with higher amounts of money but you're missing a few months or an year of probably large losses and stupid mistakes. You never know when their moves might go awfully wrong.. and I'd rather take the loss that comes after my own actions than rely on someone else's.

[Shimmiry]

HI,

Over the years I've acquired around a few hundred dollars worth of bitcoin. I'm now looking to sell off part of my coins and start trading on the side of what I do personally for work. I was in the bitcoin scene awhile ago but i'm looking to get back into it. My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

Regards,

Kyle aka Aggressive

Better think first and answer the question, what kind of trader are you? There can be two types of traders, one is a short-term trader or the active trader who trades daily, and the other is long-term trader whom preferred holding coins for a long period of time and sells it on a particular price. Then learn after it. There are a lot of trusted trading platforms and there are some with less excellence. I prefer you try on Poloniex as it offers limitations (in which you sets the high and low price to sell your coin and/or to buy it) on trading various cryptocurrencies. Binance is still preferred by most of the users as it offers features that you can use for predicting prices.

[wozzek23]

Using various tools and helpers can also be useful, especially for beginners. Find for yourself a convenient market scanner, advisor like coincyborg, position size calculation, portfolio watcher like blockfolio and so on, you'll definitely see some improvements in a short amount of time And make at least a few hundreds trades first using small orders or paper trade until you get used with user interface of your exchange or bot or some trading platform etc. And don't forget to read some TA books

for beginners it would be more recommended to try a lot of trading with small funds and also read articles that have been made by experts. and so far the tools on the market have helped a lot and we can take advantage of it, so far it depends on the beginner himself who can adapt.

Yes, beginners really have to practice a lot of demo or paper trading before they could move onto ordinary trading. Trading is never an easy job and a small mistake can make us face loss so it is always better to gain some experience before starting with trading so that we can avoid making any minor mistakes.

Beginners actually do not tend to start making huge research at the initial stage like going through some articles, staying updated to the markets, etc so they might face difficulties. But the more close we stay in contact with the markets the more reliable trading we can carry forward. Trading can really be a profitable job only if we are aware about the do's and don'ts.

[KnightElite]

Set up a plan for yourself in advance and try to follow it. This plan should include the path you choose (what kind of trade you can do), how fast you need to go (amount of earnings) and what you have to do to avoid falling into the pits (management of risks and feelings). But, first of all, how prepared are you to set off on this road? If you need to learn a little more, do not ignore it.

Planning your trades are one of most important factor to have successful execution. I'm sure that newbies are just keep buying and selling without plan. Our plan should consists of many steps, the first is we shiuld identify the entry point and our target profit then next is we should place stop loss for our risk and management. It is important because our expectation will not always happen and placing a stop loss can help us to minimize our losses. Newbies should learn how they will follow their plan in order to have successful trade.

[Janation]

Set up a plan for yourself in advance and try to follow it. This plan should include the path you choose (what kind of trade you can do), how fast you need to go (amount of earnings) and what you have to do to avoid falling into the pits (management of risks and feelings). But, first of all, how prepared are you to set off on this road? If you need to learn a little more, do not ignore it.

More like how much can they lose.

Investing in cryptocurrencies is not that easy. As an investor, you should not always look at how much you can earn but also on how you could lose it and how you could reduce the risk that you are taking. I think you should not always manage your feelings first if you can't even manage your balance well.

[DevilSlayer]

Set up a plan for yourself in advance and try to follow it. This plan should include the path you choose (what kind of trade you can do), how fast you need to go (amount of earnings) and what you have to do to avoid falling into the pits (management of risks and feelings). But, first of all, how prepared are you to set off on this road? If you need to learn a little more, do not ignore it.

More like how much can they lose.

Investing in cryptocurrencies is not that easy. As an investor, you should not always look at how much you can earn but also on how you could lose it and how you could reduce the risk that you are taking. I think you should not always manage your feelings first if you can't even manage your balance well.

That is what you called risk and reward ratio, before we trade we should know how high the risks in order for us to know if we can handle it or not. The rewards are is should greater than the risks in order for us to have good trade. Buying coins that have low potential rewards are just waste of time and money. We should learn to use our skills in identifying worth it altcoins in the market.

[CryptopreneurBrainboss]

If you have passion for trading then go with trading because passion bring knowledge and stamina and it take to success.

Although your post construction was poorly done, you still made some valid point and I will be meriting your post for the part qouted above. For the last couple of months I have been advocating for the importance of monetizing your passion which cryptocurrency trading was one of the points I enlighten for those with interest in the cryptocurrency industry. Did a post something titled; Fighting unemployment by monetizing your passion. as I did mention, many individuals rush into engaging themselves with passions that isn't theirs just because it has been proven to be profitable but lack the patience to invest their time into whatever they're doing since the love isn't present and their decision was only motivated by money.

Trading should be considered a hobby which you should develop passion for as that'll definitely help you in the long run. The advantages of doing something you love accompanied with it be a source of additional income, unconsciously helps in engaging the mind towards developing more interest on perfecting that act. The advice you highlighted is something many newbie ignore and it costs them alot since they give up halfway after experiencing some setback.

[TheUltraElite]

First thing first, stop using 20pt as size. It is an eyesore.

Over the years I've acquired around a few hundred dollars worth of bitcoin. I'm now looking to sell off part of my coins and start trading on the side of what I do personally for work. I was in the bitcoin scene awhile ago but i'm looking to get back into it.

Then why are you looking forward to selling your coins? Bitcoin users have the HODLpolicy unless they are in dire need of money. Have you forgotten your code during this time?

My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this.

So if you are completely new to trading then dont start with bitcoin trading. Learn how the stock market works first before you move to crypto trading. I feel those those who are stock traders have a higher chance of making money in this market because they know how market psychology works.

Dont get me wrong as a wallstreet broker, I am just trying to make a point. Experience in the market is what I mean to say.

Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

There is nothing called "Best" site. They are several sites which are a click away and they all have their own pros and cons. Go for any exchange that allows your local currency and make sure to check it with your local residents to get a better idea. This itself is a topic for another thread.

[bitzizzix]

Using various tools and helpers can also be useful, especially for beginners. Find for yourself a convenient market scanner, advisor like coincyborg, position size calculation, portfolio watcher like blockfolio and so on, you'll definitely see some improvements in a short amount of time And make at least a few hundreds trades first using small orders or paper trade until you get used with user interface of your exchange or bot or some trading platform etc. And don't forget to read some TA books

for beginners it would be more recommended to try a lot of trading with small funds and also read articles that have been made by experts. and so far the tools on the market have helped a lot and we can take advantage of it, so far it depends on the beginner himself who can adapt.

Articles from experts can indeed help beginners to trade the right way as long as they do it seriously, and trying to make an initial trade with small capital is a good choice and do the learning simultaneously by experiencing it directly so you get the theory and practice to be able to master it quickly.
learn everything well so that you become a reliable trader and do all learning based on your true intentions and with that you will try to learn to master it all.

[Subbir]

Set up a plan for yourself in advance and try to follow it. This plan should include the path you choose (what kind of trade you can do), how fast you need to go (amount of earnings) and what you have to do to avoid falling into the pits (management of risks and feelings). But, first of all, how prepared are you to set off on this road? If you need to learn a little more, do not ignore it.

More like how much can they lose.

Investing in cryptocurrencies is not that easy. As an investor, you should not always look at how much you can earn but also on how you could lose it and how you could reduce the risk that you are taking. I think you should not always manage your feelings first if you can't even manage your balance well.

I also share some solidarity with you that so as to take a position, you would like to remember of where you would possibly want to take a position in your capital. Here a touch review isn't enough as there are many investment issues that are far deeper, so explaining generally isn't enough.

[kotajikikox]

The DO's is be aware of the risk inside crypto investing, go with your instinct and buy low always  (though this is depend on your desire in the movement of prices)

Dont's  are never panic every time you see market is falling.
                    Never believe in high profit promises
                    Never trust random people PMming you in social media platform

[Darooghe]

My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience?[/size]

I think Bitcoin trading is easy if your a believer. any time it dips go 2x-4x long. As long as you wait long enough you will never mage a losing trade. Bitcoin is easy if you don't cut your losses. We will be at another ATH within months. As long as you don't sell none of your trades will be bad. But essentially go 2x-4x long on the dips and sell on the spikes. If you miss the sell point don't worry. It will spike back up again later.

[Bonenx14]

The DO's is be aware of the risk inside crypto investing, go with your instinct and buy low always  (though this is depend on your desire in the movement of prices)

Dont's  are never panic every time you see market is falling.
                    Never believe in high profit promises
                    Never trust random people PMming you in social media platform

for the time of buy it really depends on the price action because if the price has touched support then the time of buying must be prepared, because the potential pump will come. and I agree with this that we should not be carried away by what people say, especially if they do so with the potential that is said.

[Kelvinid]

A lot of trading site, you could choose one or two at your preference;
https://coinsutra.com/best-cryptocurrency-trading-site/

Your decision is very important here coz that will bring you into the best result. Trading is kinda a sort of effort and knowledge and further enhance your trading skills, you must be able to do it manually. Experience is a good teacher, just like the others, we also have to suffer some losses before we got what we wanted to be in our life. But if we are afraid of that, we're going nowhere for sure.

[bettercrypto]

A lot of trading site, you could choose one or two at your preference;
https://coinsutra.com/best-cryptocurrency-trading-site/

Your decision is very important here coz that will bring you into the best result. Trading is kinda a sort of effort and knowledge and further enhance your trading skills, you must be able to do it manually. Experience is a good teacher, just like the others, we also have to suffer some losses before we got what we wanted to be in our life. But if we are afraid of that, we're going nowhere for sure.

Another thing is that, stay away from trading signals and bots offering in telegram or any app. Because you think that they are good and helpful but they won't. Even it is free its hard to trust your capital with them. If you are a newbie and you want to trade, do it manually and learn things from your experience and research. Be resourceful because it is one of the sword that we need to have to succeed in trading.

[FairUser]

A lot of trading site, you could choose one or two at your preference;
https://coinsutra.com/best-cryptocurrency-trading-site/

Your decision is very important here coz that will bring you into the best result. Trading is kinda a sort of effort and knowledge and further enhance your trading skills, you must be able to do it manually. Experience is a good teacher, just like the others, we also have to suffer some losses before we got what we wanted to be in our life. But if we are afraid of that, we're going nowhere for sure.

Another thing is that, stay away from trading signals and bots offering in telegram or any app. Because you think that they are good and helpful but they won't. Even it is free its hard to trust your capital with them. If you are a newbie and you want to trade, do it manually and learn things from your experience and research. Be resourceful because it is one of the sword that we need to have to succeed in trading.

It would be foolish to trust the Bot and telegram signals. All of them are scams and we will definitely lose money if we invest in them. The market today is not the same as 2017, so we need a lot of experience to make a profit in this market. And if we do not have experience, we should invest long-term in this market

[semobo]

Don't sell too early,patience is the virtue of trading.

For a beginner who doesn't in need of making income from trading to survive their life should always reinvest their profits back into cryptos to make more money than day traders.ANd also keep the satoshi value in mind over USD value.

[tianglistrik]

Don't sell too early,patience is the virtue of trading.

For a beginner who doesn't in need of making income from trading to survive their life should always reinvest their profits back into cryptos to make more money than day traders.ANd also keep the satoshi value in mind over USD value.

circulation of funds will indeed be needed if a trader does not have another job. and finding enough profits will make us better than always hoping for high profits because high profits will take time unless the trend is improving, and we must think about funds too to stay safe.

[maydna]

As many members suggest, you must learn the lesson about trading, so you can know when the time to trade. If you can know the time, you will have a chance to select the coin to trade, and perhaps, you will need longer to analyze because, at that time, many coins that will look profitable. You need to have the skills to analyze each coin, so you don't feel difficult in analyzing and finding the right coin. You must avoid greed in trading because that will prevent you from making a profit because you want to make a bigger profit, which is not always happening. You should not panic when the market is down because if you panic, you will lose the opportunity to analyze the good time to buy or sell. There are many other things that you should know, and you should search for yourself.

[semobo]

Don't sell too early,patience is the virtue of trading.

For a beginner who doesn't in need of making income from trading to survive their life should always reinvest their profits back into cryptos to make more money than day traders.ANd also keep the satoshi value in mind over USD value.

circulation of funds will indeed be needed if a trader does not have another job. and finding enough profits will make us better than always hoping for high profits because high profits will take time unless the trend is improving, and we must think about funds too to stay safe.

High profit margin associated with high risk.

If you are a smart your will go with less risky method to make profits.

[Spider A4]

Mostly said that,Trading is not for everyone and its a reality being realistic should accept the truth.Newbies come and start trading even dont know the charts and at the end loose all.Before to start trading ask yourself either you are good at trading or not and if you have passion for trading then go with trading because passion bring knowledge and stamina and it take to success.

Exactly you picked the very important part. Once all of the guys was newbie's trader they are gradually being expert traders that is reality and universal truth. Trade is everyone if who guys can deliver effort in the perfect moment. I did not know anything before starting trade. No how i am surviving yet?

Yeah here very important to you need more realistic, emotional trade will never success in the last moment.

[South Park]

HI,

Over the years I've acquired around a few hundred dollars worth of bitcoin. I'm now looking to sell off part of my coins and start trading on the side of what I do personally for work. I was in the bitcoin scene awhile ago but i'm looking to get back into it. My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

Regards,

Kyle aka Aggressive

I think that at first you need to define what it is your baseline knowledge about trading, if you do not really know anything about trading then you are not going to learn enough from the advice we can give you and you will lose the capital that you have, my suggestion is simple do not trade now and wait until you have the necessary knowledge, the markets are not going to disappear, there are always good opportunities to make money but if your capital disappears then you will have no way to take advantage of those future opportunities.

[cotton ball]

Mostly said that,Trading is not for everyone and its a reality being realistic should accept the truth.Newbies come and start trading even dont know the charts and at the end loose all.Before to start trading ask yourself either you are good at trading or not and if you have passion for trading then go with trading because passion bring knowledge and stamina and it take to success.

Exactly you picked the very important part. Once all of the guys was newbie's trader they are gradually being expert traders that is reality and universal truth. Trade is everyone if who guys can deliver effort in the perfect moment. I did not know anything before starting trade. No how i am surviving yet?

Yeah here very important to you need more realistic, emotional trade will never success in the last moment.

Newbie never lost their expectation with some one else recommendation which one have to invest, many of beginner always hear and invest with coin recommended by expert although they give late for buying and selling, this way many beginner lost their money in trading and investing with bitcoin.

[secone]

HI,

Over the years I've acquired around a few hundred dollars worth of bitcoin. I'm now looking to sell off part of my coins and start trading on the side of what I do personally for work. I was in the bitcoin scene awhile ago but i'm looking to get back into it. My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

Regards,

Kyle aka Aggressive

Do you have any experience in trading?
if you have experience in trading maybe like in Mt4 you can same method too.
for trader you must do planing, you must do reading news, and you must do reading any analisys related by your current trade.

[SquallLeonhart]

If complexity does not matter you than you should start learning and getting lectures about trading as soon as possible because you are going to need to huge research in order to start gaining benefits from the bitcoin trading or any altcoin trading. Also can you lets us know what your be your initial investment because if you are tending to invest in smaller amount than you should try converting bitcoins to smaller value coins which can give you good profits for trading with smaller amount also.

Price for bitcoins is much higher so it would need huge investment in order to make profits from the small or mid-interval trading. No doubt, it would be a good source of investment if you are going to invest for long term.

[carlisle1]

Mostly said that,Trading is not for everyone and its a reality being realistic should accept the truth.Newbies come and start trading even dont know the charts and at the end loose all.Before to start trading ask yourself either you are good at trading or not and if you have passion for trading then go with trading because passion bring knowledge and stamina and it take to success.

Exactly you picked the very important part. Once all of the guys was newbie's trader they are gradually being expert traders that is reality and universal truth. Trade is everyone if who guys can deliver effort in the perfect moment. I did not know anything before starting trade. No how i am surviving yet?

so basically what are your point on that mate?sorry but it is harder for me to understand the whole meaning of your statement i don't know i i am missing something or it is your grammar that make it hard for me.

Yeah here very important to you need more realistic, emotional trade will never success in the last moment.

in this part i agree with you because Emotion will only brings failure to us because we will mistakenly choose actions if we are more emotional traders,better not to be more excited and not more panicking.

[Distinctin]

Mostly said that,Trading is not for everyone and its a reality being realistic should accept the truth.Newbies come and start trading even dont know the charts and at the end loose all.Before to start trading ask yourself either you are good at trading or not and if you have passion for trading then go with trading because passion bring knowledge and stamina and it take to success.

Exactly you picked the very important part. Once all of the guys was newbie's trader they are gradually being expert traders that is reality and universal truth. Trade is everyone if who guys can deliver effort in the perfect moment. I did not know anything before starting trade. No how i am surviving yet?

Yeah here very important to you need more realistic, emotional trade will never success in the last moment.

Newbie never lost their expectation with some one else recommendation which one have to invest, many of beginner always hear and invest with coin recommended by expert although they give late for buying and selling, this way many beginner lost their money in trading and investing with bitcoin.

Because they are blinded enough to see the losses that might to them later because of the attractive offering that these scammers promised to them. It was sad and can't able to imagine why noobs will still be the most victims of this kind. Because we are actually spreading awareness but unfortunately, they simply ignore this (maybe) for the sake of having instant money returns which is a false promise that scammers always do.

[chip1994]

If you are in need of advice, I will sincerely share it with you. When you've worked hard to make money in this vast financial market, why not try technical analysis? Because your money only grows well when you understand the market, it is meaningless to post it here to find a guide. There are thousands of people who have mixed opinions, it just makes you more headache. It is best to learn the knowledge from those who open the training course on trading, then start investing. That's how you get a lot of profit in the future, because there's no better investment than investing in yourself.

[Mumbeeptind1963]

Lot of replies here will be buy low sell high LOL,

I will give my honest advice for you. If you want to start trading, start with a small amount of money, experience is the number one teacher in trading, don't listen to anyone! develop your own skill and strategy in trading considering that every individual have different approach to it. As time passes by, make your capital bigger as long as you are ready for it. Make sure you are satisfied with your skill and strategy so that the risk for every trade that you will make will be lessen.

Trading is war of strategy and mind, don't be greedy, set your goals straight! as long as you are following what you want trading will be good to you. If you lose don't stop there's a time in every trader or in majority of the trader that they became broke because of trading. If that scenario happen to you, don't stop! and remember your goals. Trade everyday and make it your passion. Trading is a good source of income as long you know what you are doing.

Agree with you mate, we all started with no knowledge about trading, a beginner must know that we should invest only the amount that we can afford to lose or invest with a small amount only before giving all your bet, for you to be sure that you would not lose everything, also always make a research first before investing especially when that coin is new.

[pajak666]

Lot of replies here will be buy low sell high LOL,

I will give my honest advice for you. If you want to start trading, start with a small amount of money, experience is the number one teacher in trading, don't listen to anyone! develop your own skill and strategy in trading considering that every individual have different approach to it. As time passes by, make your capital bigger as long as you are ready for it. Make sure you are satisfied with your skill and strategy so that the risk for every trade that you will make will be lessen.

Trading is war of strategy and mind, don't be greedy, set your goals straight! as long as you are following what you want trading will be good to you. If you lose don't stop there's a time in every trader or in majority of the trader that they became broke because of trading. If that scenario happen to you, don't stop! and remember your goals. Trade everyday and make it your passion. Trading is a good source of income as long you know what you are doing.

Agree with you mate, we all started with no knowledge about trading, a beginner must know that we should invest only the amount that we can afford to lose or invest with a small amount only before giving all your bet, for you to be sure that you would not lose everything, also always make a research first before investing especially when that coin is new.

The key is to play with money that you can lose, but you don't want to lose If it is expandable amount to you, then you will not care and gamble. It has to hurt just a little if you are wrong but not to be life changing in your situation. This would be my most preached advice, paper trade or if you can't do that while being honest to yourself then use your hobby money. If you lose it, you will have this feeling 'i could have gotten something different' for the buck that will make you think about your decisions.

[kawetsriyanto]

~~What are the DOs and DONTs of bitcoin trading?~~

I am also not a professional trader but I think these will be helpful:

The first thing is "don't join in trading if you cannot be patient and know well about crypto market trends/characteristics". Trading requires patient and smart analysis of market trends. We must know when the price tends to rise up and go down. And if it is still in a bad trend, you are better to hold (patient).

The second thing is "don't be easily influenced by FUDs". You must be smarter to know which one is reasonable news and which one is FUDs only. Never hurry to sell your coins/tokens because of current rumors. Please do research, at least googling to know the truth.

[Reatim]

first you can watch over youtube mate because there are so many tutorial and strategies on that channel ,things that you can learn many things and may keep you safer.

second is try to Join channels that gives advisory in regards to people who wants to trade(but not those channel that gives stupid signals because they are scammers)

third is read a lot here mate,this forum is the best place to have guides and mentors because there are members here that loves to help,but dont fall for those who sends you private messages because most of them are scammers for sure,let the conversation stays inside postings.

[cryptoangel]

Trading is a potential platform for all the investors, so those are entering the new in trading they make some loss and profit for beginning stage. But automatically investors are gain some knowledge in social media and experience. I think telegram groups, YouTube channel and Google will help the new investors. My suggestion is start some small scale investment and active in all the time is a perfect manner.

[Visbay]

Don't sell too early,patience is the virtue of trading.

For a beginner who doesn't in need of making income from trading to survive their life should always reinvest their profits back into cryptos to make more money than day traders.ANd also keep the satoshi value in mind over USD value.

Really good suggestions because when people start trading newly so they don't know about when to wait and when to trade so that's why all traders should wait and never be greedy to get quick profit as it may because of panic in the market. Knowledge matters allot in trading so learn it well and before investing do check the market situations from Google and the internet , control your greed for better and safe trading.

[arimamib]

Don't sell too early,patience is the virtue of trading.

For a beginner who doesn't in need of making income from trading to survive their life should always reinvest their profits back into cryptos to make more money than day traders.ANd also keep the satoshi value in mind over USD value.

Really good suggestions because when people start trading newly so they don't know about when to wait and when to trade so that's why all traders should wait and never be greedy to get quick profit as it may because of panic in the market. Knowledge matters allot in trading so learn it well and before investing do check the market situations from Google and the internet , control your greed for better and safe trading.

greed is usually the main factor of failure, people who have the ability but do not know the limits in seeking profit are the cause, therefore financial management must be applied when trading, to find the right profit and also calculate the losses incurred during trading.

[Yamifoud]

greed is usually the main factor of failure, people who have the ability but do not know the limits in seeking profit are the cause, therefore financial management must be applied when trading, to find the right profit and also calculate the losses incurred during trading.

Maybe not and for some instances. Besides, many successful traders and investors become rich because they are greedy enought to take opportunity that knocking them at their door. Even me, why I should have to lose this in fact, the benefits from will seems to be useful in my life and in the future.
But if you are greedy in such a way that you would like to ruin others life then, that was not good and it probably be the reason of your failure.

I would just like to emphasize that, if we start trading we need to focus of what we doing, giving some effort to learn. We don't need to afraid of mistake and losses because from that we eventually learn more which is beneficial in the future.

[Joyawan13]

Trading is a potential platform for all the investors, so those are entering the new in trading they make some loss and profit for beginning stage. But automatically investors are gain some knowledge in social media and experience. I think telegram groups, YouTube channel and Google will help the new investors. My suggestion is start some small scale investment and active in all the time is a perfect manner.

indeed, for traders and new investors in crypto it is better to invest and trade with a small amount of capital first before knowing and understanding about crypto market price movements, because to do the learning stages and find out price movements in the market, of course to avoid many losses when there is a sudden decline, because investors and new traders usually for example there is a sudden decline in their panic, they sell their assets for fear of the greater loss they experience.

[el kaka22]

The biggest don't of bitcoin trading (or basically any financial decision in the history probably) is to never buy something you never heard of before, it is really not a good idea to go ahead and spend that much money on something you haven't researched profoundly, if you don't know what the coin is about or what the history of it or what the future plans of it, the teams behind it and how the community chats about it etc etc all the thinks you possibly can find out about it, do not even come close to buying it.

First take care of your DYOR parts of the deal and then you will have a chance to decide if you still want to buy it or not. If you fall in love with a coin and the telegram chat of that coin talks greatly about it and you see no problem with it however when you google it or just check reddit and bitcointalk about it and see people who are not part of the community tells you it is a scam, beware because mostly it really is.

[DoublerHunter]

First things first, do not stop when you lose. I know it may sound greedy at first but let me elaborate it.
Trading is not a friendly one to a friendly person. It takes a lot of effort, time, money and emotions to build an established trading portfolio. But when you lose, don't consider it as a failure but rather address your opportunities and solve it and do not stop. That is the best thing for you to do as a beginner. Nevertheless, Put some passion for your trading and avoid being aggressive with no good basis.

[panganib999]

Besides using the idea of BUY and SELL which is very common yet one of the simplest fundamentals in this field there is an experience you have to obtain. Experience if the most important thing you need to obtain in order to be an efficient trader. Since you have enough amount of money just like what you have said try to use few of it to practise and gain experience. If you encounter any loss upon your trade don't be down but rather absorb it all, this can be used as a guide or as a learning to improve your trade. One thing, all the info you can find in this forum or everywhere can be used as a guide and tips but don't rely on it too much, have your own strategies and work on your analysis.

Since the common thing in doing a trade is buying and selling of goods and services knowing the basics is a must. Trading while you are a newbie is a hard thing to do because of lot of things you should know before trading. All of us knew that trading requires specific amount in order to get started. No first timer done it perfect so if ever you failed or loss your money take it as challenged and a lesson. Experience is the best teacher because it helps you minimize your mistakes and maximize your ideas. Also you can seek learning and strategies to those who excel in trading until you come up with your own strategy. Analyse your strength and weaknesses so that you can focus on what your great to. Have patience because no one earn in just a blink of an eye. Dream big with actions.

[btcto200k]

The internet is your best buddy. If you want to learn to trade, you gotta learn by doing. Its not going to come automatically. The only way out is to trade and learn from your mistakes.

Having said that, start with a small account. DO NOT TRADE ON TESTNETS.

While they might be useful to start with and familiarise yourself with the order placement procedure and what not, they do not help you in the real world to make money.
You might make a lot of money on the testnet, but it will be difficult to implement the same strategy on real accounts.

Grasp all information that you can on trading and get better at it day by day. To shortern the learning curve, you might want to check the 'The Trader's Perspective' series on https://bbod.io/blog.

Pretty cool platform imo.

But always, DYOR. Happy trading!

[Triffin]

Besides using the idea of BUY and SELL which is very common yet one of the simplest fundamentals in this field there is an experience you have to obtain. Experience if the most important thing you need to obtain in order to be an efficient trader. Since you have enough amount of money just like what you have said try to use few of it to practise and gain experience. If you encounter any loss upon your trade don't be down but rather absorb it all, this can be used as a guide or as a learning to improve your trade. One thing, all the info you can find in this forum or everywhere can be used as a guide and tips but don't rely on it too much, have your own strategies and work on your analysis.

Since the common thing in doing a trade is buying and selling of goods and services knowing the basics is a must. Trading while you are a newbie is a hard thing to do because of lot of things you should know before trading. All of us knew that trading requires specific amount in order to get started. No first timer done it perfect so if ever you failed or loss your money take it as challenged and a lesson. Experience is the best teacher because it helps you minimize your mistakes and maximize your ideas. Also you can seek learning and strategies to those who excel in trading until you come up with your own strategy. Analyse your strength and weaknesses so that you can focus on what your great to. Have patience because no one earn in just a blink of an eye. Dream big with actions.

That's right traders should make research and collect knowledge about trading  before starting as the only way to obtain profit from trading is being aware about market that when to buy and when to sell. If you will sell and buy at right time then you can make profit from trading. I know at first people makes mistake but take it as experience and not to repeat those mistakes. New traders should trade for long term.

[@TomoCTFYbot]

HI,

Over the years I've acquired around a few hundred dollars worth of bitcoin. I'm now looking to sell off part of my coins and start trading on the side of what I do personally for work. I was in the bitcoin scene awhile ago but i'm looking to get back into it. My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

Regards,

Kyle aka Aggressive

Hi,
I invest BTC on perfect trading platform CTFYbot,every friday I earn 4.9% on my invest money.It is 100% secure and profit is guaranteed every friday.Minimum for invest is USD100 and maximum is USD50000.
If you want that I send you video material and all other information contact me on Telegram.My username is @TomoCTFYbot

[South Park]

If complexity does not matter you than you should start learning and getting lectures about trading as soon as possible because you are going to need to huge research in order to start gaining benefits from the bitcoin trading or any altcoin trading. Also can you lets us know what your be your initial investment because if you are tending to invest in smaller amount than you should try converting bitcoins to smaller value coins which can give you good profits for trading with smaller amount also.

Price for bitcoins is much higher so it would need huge investment in order to make profits from the small or mid-interval trading. No doubt, it would be a good source of investment if you are going to invest for long term.

As long as the size of your capital is adequate investing in altcoins just because they are cheaper does not make sense, you need to invest in a coin that you think it has the potential to move during the next weeks and months, and as you can see bitcoin has been by far the best investment to make during the last year, and even if you can find some isolated cases about an unknown altcoin making greater progress than bitcoin the rising bitcoin dominance should tell you everything that you need to know about the strength of bitcoin at the moment.

[bitgolden]

~~snip

None of the trader here is successful without taking any risks. We all had to face a number of risks which also demotivated most of us but yet we did never stop and keep on trading. Trading is really a trickiest thing I even went through. Even sometimes I feel gambling a way lot easier than trading.

I personally faced some huge loss at the initial stage when I just started trading with bitcoins and few other coins like XRP, EOS and ETH. These coins gave me stable profits for few starting days but the prices for each of these coins was dropped by 15% when I was holding almost 90% of those coins. It eventually stopped my source of income which made me panic sell those coins at that time to again start fresh with some new coins. This was a bit demotivating for me but I took it as an essential challenge to be completed before becoming a successful trader.

[wozzek23]

^^ That is the correct approach towards trading when you are beginner, a lot of people lose when they first start and they suddenly became cold against trading because they lost money on it and never come back or come back on a worse time.

If you lose money, know that someone else made that money instead of you, this is a game where one side wins while others lose so that means whenever you lose money someone else made that money instead, even if its just bitcoin going down and you selling or buying at the wrong time means someone else "lost less" than you. The thing as a newbie what you should do is study your losses and study your wins and try to find where you did wrong and then going after it better next time instead of never even touching it ever again, that way you can get better.

[koinju]

Hi Guys,

A real issue I found when you want to start trading on the crypto markets is all the fake volumes you can find on several exchanges and especially on CMC. It's misleading when you want to have a concrete strategy. Last week I discovered a French project that create a platform to show a fair and realistic value of each crypto markets : http://koinju.io/

What do you think about it?
Best,
NR

[Sebas.tian]

The most important thing to note as a beginner is: choose the candle stick that more convince to you and so more research into the platform. Never buy low and sell high if you cannot research into the said coins to buy at that particular time. Always watch the market movement before you made a move. Ensure to read TAs well not to get or run at lost as a beginner. You could also follow some good traders on the social medias to get information about any pump and dump coins.

[Janation]

The most important thing to note as a beginner is: choose the candle stick that more convince to you and so more research into the platform. Never buy low and sell high if you cannot research into the said coins to buy at that particular time. Always watch the market movement before you made a move. Ensure to read TAs well not to get or run at lost as a beginner. You could also follow some good traders on the social medias to get information about any pump and dump coins.

As a beginner they will be confused if they did just this.

They doesn't even know what you are talking about. For me, the best thing a beginner can do before investing and even before trading is read. Gain knowledge since you can't just go into something without having any idea what you are doing and what you will be doing. That is important.

[peter0425]

better not rush mate we are just in the beginning of halving year so make it at least a year waiting before deciding what to do because we might regret if we see the price go round 6 digits right?so make your mind diverted first now and think again in the future.

[maydna]

Every people who start trading will not know about trading in the beginning, and that depends on how they can learn trading from many sources. If they can learn and practice, they will understand how to trade with the right so that they can have a chance to make a profit. Actually, if he can buy at a low price and sell at a high price, he can always make a profit. But trading is not buying and sell only, and that is why he needs to learn about how to analyze the market so he can get the right time to trade.

It is not easy to learn to trade, but if he can use his time to search more and more about trading, he will be able to trade like other people, and even he will have the opportunity to make a profit. Don't give up if you cannot make a profit because if you still trade while you learn more, you will see that you can make a profit in the future.

[Spider A4]

Don't sell too early,patience is the virtue of trading.

For a beginner who doesn't in need of making income from trading to survive their life should always reinvest their profits back into cryptos to make more money than day traders.ANd also keep the satoshi value in mind over USD value.

Many beginner mind set is trading means a biggest profitable platform, this is a vice versa they didn't think, where from who will make money in every month, it's true so much traders take it full time job. But beginner never should start trading for profit in the first stage, first time lost is not means you are a failure, you have to take it as a experience. Patience will virtue not it's happen always.

[fullhdpixel]

A training with demo account to get a first experience on how trading works would be really good. Try to find a real time demo trading platform and try to apply different strategies and see which one that would work for you. Then when you start, do so with a small amount, there’s nothing wrong with starting small and getting little profit.

As time goes on and you’re getting perfect with the business you can then be increasing the amount you put in for the trade. And do your best not to trade with emotion or it’s going to ruin everything.

[coin_1122]

A training with demo account to get a first experience on how trading works would be really good. Try to find a real time demo trading platform and try to apply different strategies and see which one that would work for you. Then when you start, do so with a small amount, there’s nothing wrong with starting small and getting little profit.

As time goes on and you’re getting perfect with the business you can then be increasing the amount you put in for the trade. And do your best not to trade with emotion or it’s going to ruin everything.

In cryptocurrency, there is no demo platform for the beginners, I hope in Forex trading, there is a demo version for the beginners but it is completely different from the cryptocurrency. But we can implement all our experience which we learned in Forex, trading is completely different even an experienced person will face some difficult situations.

[carlisle1]

A training with demo account to get a first experience on how trading works would be really good. Try to find a real time demo trading platform and try to apply different strategies and see which one that would work for you. Then when you start, do so with a small amount, there’s nothing wrong with starting small and getting little profit.

As time goes on and you’re getting perfect with the business you can then be increasing the amount you put in for the trade. And do your best not to trade with emotion or it’s going to ruin everything.

But at least you must be ready to risk money first because trading is not that easy to do,we have so many traders wannabes that made their way here but fail to make a profit and in the end resigning and make another path in life.
Spending money first will give you a chance to become successful trader but the problem is not all of us can afford spending to have a advice from professional traders.

[abel1337]

In cryptocurrency, there is no demo platform for the beginners, I hope in Forex trading, there is a demo version for the beginners but it is completely different from the cryptocurrency. But we can implement all our experience which we learned in Forex, trading is completely different even an experienced person will face some difficult situations.

I think it's the same as long as you get the essentials on trading like knowing the chart and how placing orders and bids. Tutorial on trading is widely available online but the experience itself is self-learned and a platform that lets you trade without risking a thing will greatly boost your experience.

Some successful trader was devastated at first with their loss when they were just starting (It's a fact), Don't let a mistake stop you in achieving your goals. I also did a big mess before but it contributes to my experience and the mistake I did became a lesson to me and I promised myself not to do it again.

[lienfaye]

But at least you must be ready to risk money first because trading is not that easy to do,we have so many traders wannabes that made their way here but fail to make a profit and in the end resigning and make another path in life.

Thats why its important to know everything about trading and gain knowledge first to avoid the usual mistakes that newbies often commit.

When I was a beginner I didnt enter in trading until I dont understand the basics, its an advantage for me because I have someone who help me throughout my journey.

There are also videos on youtube that can help a newbies to understand well how trading works. If you decided to try the actual trade its better to use small amount so it wont be hard if you lose it, what important is the experience.

 

[MWesterweele]

A training with demo account to get a first experience on how trading works would be really good. Try to find a real time demo trading platform and try to apply different strategies and see which one that would work for you. Then when you start, do so with a small amount, there’s nothing wrong with starting small and getting little profit.

As time goes on and you’re getting perfect with the business you can then be increasing the amount you put in for the trade. And do your best not to trade with emotion or it’s going to ruin everything.

I haven't heard a demo account that can be used , I mean a demo account with fund for us to use in trading, I highly suggest that it is not bad to use your main account with fund when you first time trade, because with that you may come up with a different strategy on how you will manage your money correctly, and how will you put that in different altcoins, you need to start to deposit little by little amount, do not put too much .

[fullhdpixel]

First things first, do not stop when you lose. I know it may sound greedy at first but let me elaborate it.
Trading is not a friendly one to a friendly person. It takes a lot of effort, time, money and emotions to build an established trading portfolio. But when you lose, don't consider it as a failure but rather address your opportunities and solve it and do not stop. That is the best thing for you to do as a beginner. Nevertheless, Put some passion for your trading and avoid being aggressive with no good basis.

Most worst case scenario which I saw among the new traders was that once they have loss at the initial stage itself, they declare trading as never profitable method of earning revenue and they turn their back towards trading. This is what makes most of the people feel insecure about trading. Trading was never an easy task. You need to spend hours and days learning how to trade by minimizing the loss.

If you have loss at the starting stage does not mean that trading was never meant for you. In fact, you should gain experience from such loss and analyze how you landed up in loss by analyzing some patters and charts. This would make you gain some experience so that you can use the same in your next executed trade.

[isaac_clarke22]

Well since you're still beginning, I would advise you to start virtual trading if you're kinda scared of losing quite a capital.
Start with like few USDs first.
Choose the exchange you want to trade at, I expect that you would end up in Binance since that's what the majority will tell you, but think out of the box and you'll get Bittrex, Etherdelta, etc.
Don't go straight into day trading, if you're planning into it since you're still beginning.

[Freddy11]

When it comes trading, it’s must that we do it in a very proper and careful way because it’s too challenging otherwise. I find it super easy and comfortable with FreshForex broker. It’s one of the kind that always helps with trading and allows us to perform well, so that’s where it becomes so good working with them.

[Touheedkhan78]

For Trading you must have a plan how many percentage you daily want on your portfolio and don't take risks in starting point

[darewaller]

When you first starting, I don't even mind if you play the game ones, not even demo but the game. There are some apps and computer games that you can play in which you will of course not make so much money of course but at the same time you will learn what the basics are there, then you can move towards demo ones where you basically play the same game but just multiplayer instead of just by yourself which would be amazing improvement for you because there would be other people involved and you will realize how not so good you are yourself.

In the end, if you are good at the demo as well, you can move towards doing the real trading and start slow and small and if you are good enough and start to make profit, that is great, if not you can always go back one step and try again.

[Negotiation]

For Trading you must have a plan how many percentage you daily want on your portfolio and don't take risks in starting point

I agree with you but other than that many of the risk of trading newcomers do not know that they often lose their money after greed For this reason before trading you need to research different places and trade trading charts. Before investing you need to check if the place is worth the dependence.

[TheUltraElite]

Many beginner mind set is trading means a biggest profitable platform, this is a vice versa they didn't think, where from who will make money in every month, it's true so much traders take it full time job.

I would not suggest someone to take trading as a full time job. It cant be unless you have been trading for a long period of time but then the question by the OP becomes redundant since they asked for beginners.

When it comes trading, it’s must that we do it in a very proper and careful way because it’s too challenging otherwise. I find it super easy and comfortable with -----snip---- broker. It’s one of the kind that always helps with trading and allows us to perform well, so that’s where it becomes so good working with them.

Forex is not same as cryptocurrency trading. The topic is about the later. Also do not promote some site like that. Give the reason why you think they are good instead of saying they are good. Provide proofs then we can talk here.

For Trading you must have a plan how many percentage you daily want on your portfolio and don't take risks in starting point

That is not everything. You may have a plan of a certain percentage but never reach it. It is important to know how to read the price charts and keep on going with the market even when you think it becomes boring but not trade - for a beginner.

[Assface16678]

For Trading you must have a plan how many percentage you daily want on your portfolio and don't take risks in starting point

I agree with you but other than that many of the risk of trading newcomers do not know that they often lose their money after greed For this reason before trading you need to research different places and trade trading charts. Before investing you need to check if the place is worth the dependence.

I want to share my trading experience too and all of my learnings to my entire life of trading and In the beginner phase of my trading it takes me for over three weeks to study about the process of earning in trading and after a few days before I start into the real world of trading. One of the things we need to do in trading always be ready to prepare your mind about the possible things will happen on your trades using your knowledge so you can decide what kind of action you will do avoid loss of money. A trader always aims for profit. When the price comes high low grab the opportunity to predict when the price drops don't get scared and pull out your money avoid this because you cannot get any profit if you will always be afraid of falling your income. The market price is volatile. Ever think about the things you do.

[@prashant]

First of all go through a basic tutorial on reading charts and learn various market strategies then you can use demo account and check your skills and continue to improve before going with real money. Patience is most basic and necessary criteria if you want to be good trader , in initial phase avoid bot trading and do manual short targets. Later on depending on your skills you can increase your threshold and earn good profit.

[LUCKMCFLY]

~snip~

There are many things you should keep in mind, my personal advice is as follows:

1.- You must establish if you want to be a market speculator or Investor.

2.- If you want to be a market speculator, you must be clear that you must follow the line of least resistance in the market, no matter if the market rises or falls, you must follow the direction of the market and hunt the movements.

3.- Do not let yourself be guided by any technical analysis, there are many who just want to monetize with advice that they do not follow, I recommend you read books by speculators like Wyckoff, Livermore, so that you learn to understand the market, even when you have arguments you will be able to separate the good from the bad of information.

4.- If you want to be an investor, the most advisable thing is to sell all Altcoin, put it in Bitcoin and leave it there until a new bullish trend process is recommended.

[Twentyonepaylots]

A training with demo account to get a first experience on how trading works would be really good. Try to find a real time demo trading platform and try to apply different strategies and see which one that would work for you. Then when you start, do so with a small amount, there’s nothing wrong with starting small and getting little profit.

As time goes on and you’re getting perfect with the business you can then be increasing the amount you put in for the trade. And do your best not to trade with emotion or it’s going to ruin everything.

In cryptocurrency, there is no demo platform for the beginners, I hope in Forex trading, there is a demo version for the beginners but it is completely different from the cryptocurrency. But we can implement all our experience which we learned in Forex, trading is completely different even an experienced person will face some difficult situations.

What you can do at the very least for the lack of demo accounts on cryptocurrencies is to create a dummy account thrown in with a few cryptos so you can just test the waters. That way, you wouldn't lose everything all at once and you'll gain some valuable insights on how to invest in crypto without breaking the bank

Have done that when i first started in cryptocurrency trading, gave me valuable information on how to strategize my investments to gain the most profits while losing money as seldom as possible.

[South Park]

^^ That is the correct approach towards trading when you are beginner, a lot of people lose when they first start and they suddenly became cold against trading because they lost money on it and never come back or come back on a worse time.

If you lose money, know that someone else made that money instead of you, this is a game where one side wins while others lose so that means whenever you lose money someone else made that money instead, even if its just bitcoin going down and you selling or buying at the wrong time means someone else "lost less" than you. The thing as a newbie what you should do is study your losses and study your wins and try to find where you did wrong and then going after it better next time instead of never even touching it ever again, that way you can get better.

Unfortunately this is a concept that many traders do not understand, they do not seem to get they are in one of the most ruthless competitions in the entire world, a competition in which you are fighting against every single other trader in the world, this is why traders have the idea they can make a fortune in this market in weeks, when in reality the few traders that did that took a huge risk and were just lucky, this is why the first skill that a newbie should learn is money management since that will reduce your losses at the beginning but since that is not exciting they do not take the time to learn such a crucial skill.

[Faxmate]

~snip~

There are many things you should keep in mind, my personal advice is as follows:

1.- You must establish if you want to be a market speculator or Investor.

2.- If you want to be a market speculator, you must be clear that you must follow the line of least resistance in the market, no matter if the market rises or falls, you must follow the direction of the market and hunt the movements.

3.- Do not let yourself be guided by any technical analysis, there are many who just want to monetize with advice that they do not follow, I recommend you read books by speculators like Wyckoff, Livermore, so that you learn to understand the market, even when you have arguments you will be able to separate the good from the bad of information.

4.- If you want to be an investor, the most advisable thing is to sell all Altcoin, put it in Bitcoin and leave it there until a new bullish trend process is recommended.

All those are really good ideas for trading mate we should get into trading for fast and safe profit but it all about us how to keep safe from lose abs from scamming so just be very careful in trading specially when you are starting your new journey in trading. Better focus on making research and don’t stop learning as knowledge is the basic need of trading.

[adzino]

You should reduce the font size (or just use the standard default size). Kinda hard to read if you keep the font size too big.
Anyways, just couple of hundred dollars in BTC is not enough for trading. I mean, yeah you can trade with those, but you won't be making much of a profit. The time you would be spending behind trading wouldn't be worth it at all. But since you are new, low investment will actually help you to learn how to trade and you won't be losing much due to small capital. Just start small, try different kind of investments and learn from your mistakes.

[sana54210]

There are 100s of dos and don'ts for all level of traders which means beginners might be having some multiple of them as they are still in learning process of trading.

For the capital of $100, I suggest to risk only $40 of them into highly volatile  yet highly reputed altcoins like ethereum or litecoin or dash. These coins may get you 5% to 10% profits if you catch their exact low prices in short term otherwise you may able to hold and wait until you will be getting some 20% to 30% profits but remember for that you may need to wait for months to year.

Trading requires lot of attention and dedication in terms of finding the right assets and finding the right entry and exit levels. But, everything could be achieved in slow progress of learning and practicing. Because, all the traders were beginners when they got into trading .

[AicecreaME]

~snips~

Buying Low and Selling high is not bad at all, this is the simplest form of the explanations you've said. For example, you're teaching your kids math, you wouldn't teach them Calculus on the spot but you are going instead for the basic, which is 1 + 1 = 2, simple as that. Beginners can't adopt what professional traders do easily, they have to take step by step process on being a Trader they wanted to be.

Though what you have said was all true, I agree about that. On the other side of it, it would be more helpful if you're going to show some actual trading proofs (images) for them to easily understand your advice.

[wxxyrqa]

Buying Low and Selling high is not bad at all, this is the simplest form of the explanations you've said. For example, you're teaching your kids math, you wouldn't teach them Calculus on the spot but you are going instead for the basic, which is 1 + 1 = 2, simple as that. Beginners can't adopt what professional traders do easily, they have to take step by step process on being a Trader they wanted to be.

Though what you have said was all true, I agree about that. On the other side of it, it would be more helpful if you're going to show some actual trading proofs (images) for them to easily understand your advice.

Many traders, when they started their activities in the cryptocurrency market, faced various problems and, first of all, with the advice and training of people who instilled confidence that cryptocurrency trading is an easy activity and the main thing is to sell at a higher price and buy cheaper.  But if you adhere only to this understanding, then collapse and loss are inevitable, since the trader must first of all have the knowledge to analyze the chart of the coin in order to choose the best time to complete transactions, and you also need to set a goal and clearly adhere to the plan using a specific strategy.  Of course, my words are still fairly unfounded, because I do not have much experience, but nevertheless, I begin to understand this process and what is the great danger.  I’m just starting to use the strategy of scaling to master this strategy fully, Before I start working in other directions.

[South Park]

You should reduce the font size (or just use the standard default size). Kinda hard to read if you keep the font size too big.
Anyways, just couple of hundred dollars in BTC is not enough for trading. I mean, yeah you can trade with those, but you won't be making much of a profit. The time you would be spending behind trading wouldn't be worth it at all. But since you are new, low investment will actually help you to learn how to trade and you won't be losing much due to small capital. Just start small, try different kind of investments and learn from your mistakes.

When you are just beginning a couple hundreds of dollars is enough to begin to practice your strategy and see if you can be really profitable with your trading, but if you really want to make profits in the markets you have no other option but to invest more money than that, after all if you do not then there is no point in trading since most likely you will earn more money in your day job than whatever you could get out out of your trading activities with that low capital.

[Bagaji]

The most important thing to note as a beginner is: choose the candle stick that more convince to you and so more research into the platform. Never buy low and sell high if you cannot research into the said coins to buy at that particular time. Always watch the market movement before you made a move. Ensure to read TAs well not to get or run at lost as a beginner. You could also follow some good traders on the social medias to get information about any pump and dump coins.

As a beginner joining pump and dump group should not be encourage because it may be dangerous to their capital. Studying candle stick in details with all the partern will really help beginners to gain good knowledge of what trading crypto currency entails and for them to be successful in their trading.

[redsun114]

The number one thing you should not do when it comes to cryptocurrency trading is trading without a plan. That’s why you have to learn trading and know how to create the perfect plan that works for you.

If you just decide to start trading without having any then you’re heading down to a big loss. Just like some people that prefers to just gamble with it and see whether luck would be on their side, that’s very bad and you might even end up not getting anything at all. After you might have learnt about how to plan your trade, the next thing should be Stop Loss.

Stop Loss is very important, seriously your trading plan can turn out to be wrong and the only thing that would save your ass from that big loss is this stop loss. Another thing you should never try is choosing cryptocurrencies that you have not researched. I guess these are enough. Good luck with your trade.

[seleme]

~snips~

Buying Low and Selling high is not bad at all, this is the simplest form of the explanations you've said. For example, you're teaching your kids math, you wouldn't teach them Calculus on the spot but you are going instead for the basic, which is 1 + 1 = 2, simple as that. Beginners can't adopt what professional traders do easily, they have to take step by step process on being a Trader they wanted to be.

Though what you have said was all true, I agree about that. On the other side of it, it would be more helpful if you're going to show some actual trading proofs (images) for them to easily understand your advice.

What the OP said reflects the right opinion, starting with a small balance will be healthier. In terms of profitability and managing risk, it is too early to expect from the novice trader to show that trading skills.

The basement idea is to buy low and sell high but applying this gold technic requires deep trading skills, risk management, market understanding. Surviving among the sharks and protecting the stop limit order from stop hunters are the second layer requirements for new traders who applied the right skills on the previous level of trading. Btw, there are a lot of trade-education platforms for learning the basics aka indicators, fundamental analysis.

[Kurokonobasuke]

HI,

Over the years I've acquired around a few hundred dollars worth of bitcoin. I'm now looking to sell off part of my coins and start trading on the side of what I do personally for work. I was in the bitcoin scene awhile ago but i'm looking to get back into it. My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

Regards,

Kyle aka Aggressive

The best thing to do is to have plan. Planning is essential in all aspects especially when it comes in trading, because when we do not have plan, there are more mistakes to come and have a big loss of money. The other think you need to do is to learned how trading works like bull market and bear market. Bull market is just simply a bull but when we give them a deep meaning is symbolizes price are rising, because the bull acts his horns up while the bear market swipes its paws downward, so that it symbolizes as by falling prices.

[South Park]

The number one thing you should not do when it comes to cryptocurrency trading is trading without a plan. That’s why you have to learn trading and know how to create the perfect plan that works for you.

To this I will add that not only it is important to have a plan you need to verify that plan works and that you follow that plan, it is very easy to look at the charts and what the price did in the past and come up with a strategy that makes money but as soon as you need to apply that strategy and you have to face the live markets you do not want to follow it, especially if you are using an amount of money that is significant to you and in the case you lose that it could affect your life.

[TrevorS]

The best thing to do is to have plan. Planning is essential in all aspects especially when it comes in trading, because when we do not have plan, there are more mistakes to come and have a big loss of money. The other think you need to do is to learned how trading works like bull market and bear market. Bull market is just simply a bull but when we give them a deep meaning is symbolizes price are rising, because the bull acts his horns up while the bear market swipes its paws downward, so that it symbolizes as by falling prices.

You are right, however, in order for you to have a plan you must understand how the market works.
In fact, you can get into a boat and go to sea and depending on the waves build your strategy on how to get from point A to point B.

The same is true in the crypto market, you can open an account in which you will focus only on intuition and your understanding market.
Of course, it is very likely that you will lose the entire deposit, so it should consist of not real money.
A demo account is exactly what you need to probe the market and understand the market mechanisms for influencing you.

[LUCKMCFLY]

The number one thing you should not do when it comes to cryptocurrency trading is trading without a plan. That’s why you have to learn trading and know how to create the perfect plan that works for you.

If you just decide to start trading without having any then you’re heading down to a big loss. Just like some people that prefers to just gamble with it and see whether luck would be on their side, that’s very bad and you might even end up not getting anything at all. After you might have learnt about how to plan your trade, the next thing should be Stop Loss.

Stop Loss is very important, seriously your trading plan can turn out to be wrong and the only thing that would save your ass from that big loss is this stop loss. Another thing you should never try is choosing cryptocurrencies that you have not researched. I guess these are enough. Good luck with your trade.

I agree with you, I think that "Stop Loss" and "Take Profit" should be essential to start any trade, when it comes to trading it is good to have a plan based on a study either AT or Fundamental, in my case only I operate 3 Trades, where I make sure to leave with a positive balance, of course I place my "Stop Loss" adjusted at less than 10% risk and a "Take Profit" earning x3 is medium and long term.

[nicolas1979]

A training with demo account to get a first experience on how trading works would be really good. Try to find a real time demo trading platform and try to apply different strategies and see which one that would work for you. Then when you start, do so with a small amount, there’s nothing wrong with starting small and getting little profit.

I agree with you because most of new trader always avoid practice using demo account, the effect is the don't know the field and confuse when market goes at the wrong direction. For testing strategy I suggest to join competition, if success we can use it and get prize if fail just fix it. Trading is long journey and need hard work, if you want rich from trading I suggest to leave it because profit is the last goal, fist goal is grow up capital.

[coin_1122]

The most important thing to note as a beginner is: choose the candle stick that more convince to you and so more research into the platform. Never buy low and sell high if you cannot research into the said coins to buy at that particular time. Always watch the market movement before you made a move. Ensure to read TAs well not to get or run at lost as a beginner. You could also follow some good traders on the social medias to get information about any pump and dump coins.

As a beginner joining pump and dump group should not be encourage because it may be dangerous to their capital. Studying candle stick in details with all the partern will really help beginners to gain good knowledge of what trading crypto currency entails and for them to be successful in their trading.

A beginner should always think twice before joining any groups, most of the dump and pump groups will make most of the money. Most of the beginner will find it difficult to predict the charts because of the drops are very huge in cryptocurrency. In order to become successful, they need to get some experience in cryptocurrency by practising in demo accounts.

[iv4n]

-snip-

The best thing to do is to have plan. Planning is essential in all aspects especially when it comes in trading, because when we do not have plan, there are more mistakes to come and have a big loss of money. The other think you need to do is to learned how trading works like bull market and bear market. Bull market is just simply a bull but when we give them a deep meaning is symbolizes price are rising, because the bull acts his horns up while the bear market swipes its paws downward, so that it symbolizes as by falling prices.

He already has a plan, to start trading with some part of his saving. In trading timing is everything, I would suggest to OP to start with some small amount and to try to sell at top, or at least close to top, and of course to buy when price is at bottom, or at least close to it.
Of course nobody can't predict top and bottom, that's why you have more than one sell order, and of course more than one buy order. You check from time to time your orders, if they are executed you make new ones. We never know will price change direction, we don't know where is heading, so I suggest newbies to always have some dollars and bitcoins on a side, if price surprise you and do something unexpected you need to have some bitcoins to sell, or dollars to buy, depending where price went.

[rodskee]

A training with demo account to get a first experience on how trading works would be really good. Try to find a real time demo trading platform and try to apply different strategies and see which one that would work for you. Then when you start, do so with a small amount, there’s nothing wrong with starting small and getting little profit.

I agree with you because most of new trader always avoid practice using demo account, the effect is the don't know the field and confuse when market goes at the wrong direction. For testing strategy I suggest to join competition, if success we can use it and get prize if fail just fix it. Trading is long journey and need hard work, if you want rich from trading I suggest to leave it because profit is the last goal, fist goal is grow up capital.

I think they did not avoiding Practice Demo but it happened that they don’t know how to use it first,they don’t even know that this are existing.
I am basing in my own experiences so i do understand them.

You have good advices here mate and this will help many newbies to understand what this all bout,as they need many of this advice .

[Janation]

A training with demo account to get a first experience on how trading works would be really good. Try to find a real time demo trading platform and try to apply different strategies and see which one that would work for you. Then when you start, do so with a small amount, there’s nothing wrong with starting small and getting little profit.

I agree with you because most of new trader always avoid practice using demo account, the effect is the don't know the field and confuse when market goes at the wrong direction. For testing strategy I suggest to join competition, if success we can use it and get prize if fail just fix it. Trading is long journey and need hard work, if you want rich from trading I suggest to leave it because profit is the last goal, fist goal is grow up capital.

Capital is also an important part of investing and trading.

Without a good start or a good capital, the choices you will be having is limited. You might not be able to choose a great investment or asset since you are looking for a specific one, the one that you can afford. As a beginner, better maintain your investments into safe ones rather than being aggressive and pick anything that you see that promises your profits. Most importantly, gain knowledge as you can. As time passes, you will gain experience and after that, I think you don't need other tips than that.

[Spider A4]

~~snip

None of the trader here is successful without taking any risks. We all had to face a number of risks which also demotivated most of us but yet we did never stop and keep on trading. Trading is really a trickiest thing I even went through. Even sometimes I feel gambling a way lot easier than trading.

Trading it is likes gambling when someone will try to want huge profit in unremittingly, greedy mentality will made you a gambler in trading or anywhere. Beginners traders faced many times losses in the first time but many traders stopped when not control frustration and their emotion. You are correct, gambling and trading those are different excitement.  

[tbterryboy]

Everyone starts their life as an infant similarly everyone starts their trading as a beginner. No exceptions. So, there are definitely enough room for beginners into crypto trading as well.

What makes difference is, continuous learning. People who are ignoring to learn from all the opportunities, they are coming across, staying a beginner forever in trading whereas people who are finding time to learn and making use of their experience while trading are slowly moving toward the position of professional trader.

I mean to say no one should get fear of entering into trading as a beginner but they must find time to learn different strategies and plans of trading. When they are good in discipline while trading they can definitely make profits and being discipline in every kind of management in trading then they will be no more the beginners.

[AakZaki]

What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

There is no other way for a beginner trader, unless a lot of learning to understand the market as a whole.
Start trading with a little capital, study technical analysis little by little, do your own research until you really can get enough profit.

If you want to use a pretty good trading site, try it at Binance there without making KYC, but what you need to avoid as a beginner trader is trading margin and futures on Binance.

[bitgolden]

Everyone starts their life as an infant similarly everyone starts their trading as a beginner. No exceptions. So, there are definitely enough room for beginners into crypto trading as well.

What makes difference is, continuous learning. People who are ignoring to learn from all the opportunities, they are coming across, staying a beginner forever in trading whereas people who are finding time to learn and making use of their experience while trading are slowly moving toward the position of professional trader.

I mean to say no one should get fear of entering into trading as a beginner but they must find time to learn different strategies and plans of trading. When they are good in discipline while trading they can definitely make profits and being discipline in every kind of management in trading then they will be no more the beginners.

The trouble for all beginners is to leave emotions out the window when they are trading, unfortunately trading world has no place for what you think or what you feel about a coin, if you just do what you feel and follow your emotions you will get poor very quickly in this market.

You have to be ruthless and cunning and do whatever you can to make money, if you are ever soft even for once then you will get all of your money gone in a quick second. That is what happened to everyone who have used their emotions when trading and it will continue like that for a long time as well. If you manage to hone down your emotions and only see these as numbers and only care about the statistics, you have a chance of making profits in this market, that is the only possible way of doing it.

[dragon695]

The most important thing to note as a beginner is: choose the candle stick that more convince to you and so more research into the platform. Never buy low and sell high if you cannot research into the said coins to buy at that particular time. Always watch the market movement before you made a move. Ensure to read TAs well not to get or run at lost as a beginner. You could also follow some good traders on the social medias to get information about any pump and dump coins.

As a beginner joining pump and dump group should not be encourage because it may be dangerous to their capital. Studying candle stick in details with all the partern will really help beginners to gain good knowledge of what trading crypto currency entails and for them to be successful in their trading.

A beginner should always think twice before joining any groups, most of the dump and pump groups will make most of the money. Most of the beginner will find it difficult to predict the charts because of the drops are very huge in cryptocurrency. In order to become successful, they need to get some experience in cryptocurrency by practising in demo accounts.

Currently some exchanges allow users to use a demo account to trade and this is the best way for them to prepare the necessary knowledge when trading in this market. I think not everyone is confident enough and there will certainly be a time when they will feel very depressed because they cannot make a profit from this market. However, you should not give up because this market is still the best place to make money.

[rodskee]

What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

There is no other way for a beginner trader, unless a lot of learning to understand the market as a whole.
Start trading with a little capital, study technical analysis little by little, do your own research until you really can get enough profit.

but some are just trying to Trade by chance and those are the noobs and some tough ones that can risk and willing to lose money for their own gains and benefits.

If you want to use a pretty good trading site, try it at Binance there without making KYC, but what you need to avoid as a beginner trader is trading margin and futures on Binance.

Binance if i am not mistaken offers trading for testing?free to trade without losing any amount?this is what i have read in other thread when someone is asking about free trading tutorials.

[Btc_1856]

What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

There is no other way for a beginner trader, unless a lot of learning to understand the market as a whole.
Start trading with a little capital, study technical analysis little by little, do your own research until you really can get enough profit.

but some are just trying to Trade by chance and those are the noobs and some tough ones that can risk and willing to lose money for their own gains and benefits.

If you want to use a pretty good trading site, try it at Binance there without making KYC, but what you need to avoid as a beginner trader is trading margin and futures on Binance.

Binance if i am not mistaken offers trading for testing?free to trade without losing any amount?this is what i have read in other thread when someone is asking about free trading tutorials.

Really are they allow to trade freely, till now I have not gone through this type of message from them? Of course, the tutorial is very important to learn basic things about the trading and how far the cryptocurrency will work, this will surely help the newcomers to attract this type of tutorial.

[mauriek]

There is no other way for a beginner trader, unless a lot of learning to understand the market as a whole.
Start trading with a little capital, study technical analysis little by little, do your own research until you really can get enough profit.

If you want to use a pretty good trading site, try it at Binance there without making KYC, but what you need to avoid as a beginner trader is trading margin and futures on Binance.

All of us are from beginners, and when I was a beginner I only used Market Bittrex as my trading place. And I think that is a very suitable market for beginners. But there requires us to KYC, so for beginners who avoid it then can choose the market that you recommend, Binance Exchange.

[BrainTrades]

When I want to learn something new, I always find someone who is where I want to be, and then learn from them. In this case I would start paper trading first while you are learning so you don't have to risk your real funds.
For me personally, the most important aspects of trading are understanding support and resistance, managing your risk and controlling your emotions.

[South Park]

Capital is also an important part of investing and trading.

Without a good start or a good capital, the choices you will be having is limited. You might not be able to choose a great investment or asset since you are looking for a specific one, the one that you can afford. As a beginner, better maintain your investments into safe ones rather than being aggressive and pick anything that you see that promises your profits. Most importantly, gain knowledge as you can. As time passes, you will gain experience and after that, I think you don't need other tips than that.

This is something newbies forget all the time, they think they can trade an earn a fortune that way but in order for that to happen you need a decent amount of capital otherwise the exchange fees, the slippage, and the transactions fees are going to eat whatever profits you may have in the market really quickly, it is better to wait until you can get more money and use that time to make absolutely sure that your strategy is going to make money in the markets no matter what.

[coinfinger]

It doesn't matter if it is crypto or stocks or forex or anything else, all of the advises I have ever seen all comes down to same thing, practice. If you want to be a trader you have to trade, if you want to be a coder you have to code, if you want to be a musician you have to do it.

Without actually doing what you want to become, you can't ever become that thing by just reading, sure you have to have a general broad understanding of it before you start and know what you are doing and you have to study it a bit before hand but the best case comes when you do something and fail at it and study what you failed instead of not even trying yourself and prepare yourself beforehand. All of the great traders in the world started by doing something wrong but then learning from their mistakes, that is how you become good at anything in life.

[Bitinsure]

HI,

Over the years I've acquired around a few hundred dollars worth of bitcoin. I'm now looking to sell off part of my coins and start trading on the side of what I do personally for work. I was in the bitcoin scene awhile ago but i'm looking to get back into it. My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

Regards,

Kyle aka Aggressive

Hello mate! Try to use professional software, like, for instance https://www.bitinsure.com/

The idea is to trade systemetically and monitor risks.
This is possible to do manually or with the help of software I shared
Just calculate your risks and get alerts when they are reached!

[spike420211]

From my own experience I can say that trading Bitcoin is much easier compared to all other market assets.
However, trading Bitcoin itself is insanely complicated, that is, you understand that trading other assets other than Bitcoin is even more difficult.
The main difficulty is that they will constantly try to deceive you.

You will be constantly set traps in the market, large players can easily manipulate the price of bitcoin even at the right time, when you will not expect it, when you are sure that you are doing absolutely right now,
and the next transaction will bring you profit, at that very moment the market will play in the opposite direction, plunging you into complete bewilderment with its irrationality.

There are a lot of similar situations on the market, which greatly complicates the trading based on logic and analysis. It is difficult both financially and psychological.
Therefore, I recommend that you study the market from the side, use a demo account or a paper account, do not rush to make real money in the market, and do not trade using leverage.

[EmmanuelGrand87]

Hello,
I was a beginner not so long ago, and now thanks to several online blogs like this one: https://juliesommaruga.fr and articles about trading and how to become successful, I got better. I'm not saying I'm an expert, but let's say I'm in between

[davinchi]

Before you even consider trading as a side income source have you taken the time to do proper research on trading? Unless you have had an experience in it and you know how it works, but if you have not, I will advise you to take your time and learn about it so that you don’t lose some money for no reason.

Trading is not an easy thing to do, you have to understand it first and the risks that are involved. When I started at first I had to be working with my friends because I don’t know how it is being done, I just watch them and place trades once they do, and I was making profit when they do, and also loss when they lose. I kept doing it this way until I learnt how to trade by myself. Even now I’d still say that there are much left for me to learn.

[4IRIK]

Hi! I'd recommend reading the following:

Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy
Risk Management in Trading: Techniques to Drive Profitability of Hedge Funds and Trading Desks  by Davis Edwards


And to use the software that helps in trading a lot:


This is what I mostly use currently:

1) https://www.bitinsure.com/

It is an automated risk monitor. I set the limits like max drawdown and other options at several Bitmex accounts and Bitinsure sends a notification since the limit is reached. This way I can have a rest and get notified when sth goes wrong. Also, it provides automated statistics reporting. This thing is useful for trades analysis



2) https://3commas.io/
I'm not a fan of trading bots but these I'd recommend. However, always track the performance and comply with risks (app above)

3) https://www.tradingview.com/
Observe mostly charts and signals. Nice interface and great ideas from other traders.

[Synaesthesia]

When I want to learn something new, I always find someone who is where I want to be, and then learn from them. In this case I would start paper trading first while you are learning so you don't have to risk your real funds.
For me personally, the most important aspects of trading are understanding support and resistance, managing your risk and controlling your emotions.

Currently, there is a lot of useful information for new traders and if you take the time to learn, you will gain experience in this market. I think any investor needs to have great patience and have a reasonable investment strategy because if you cannot control it, you will easily lose money in this market. I used to lose a lot in the past but after that hard time I became more confident starting trading.

[mauriek]

When I want to learn something new, I always find someone who is where I want to be, and then learn from them. In this case I would start paper trading first while you are learning so you don't have to risk your real funds.
For me personally, the most important aspects of trading are understanding support and resistance, managing your risk and controlling your emotions.

Currently, there is a lot of useful information for new traders and if you take the time to learn, you will gain experience in this market. I think any investor needs to have great patience and have a reasonable investment strategy because if you cannot control it, you will easily lose money in this market. I used to lose a lot in the past but after that hard time I became more confident starting trading.

Believe in yourself is better than you have to listen to the words of others. But for beginners it's better to learn from those who are already professional in the world of trading. Indeed starting trading must be really focused and patient, so that we are not easily emotional when things happen that we don't want.

[South Park]

Before you even consider trading as a side income source have you taken the time to do proper research on trading? Unless you have had an experience in it and you know how it works, but if you have not, I will advise you to take your time and learn about it so that you don’t lose some money for no reason.

This is by far the most common problem for a newbie looking for a way to trade, they get excited about the possibility of making a lot of money and I do not blame them but before you put a single dollar at risk you need to spend months learning all what you can about it, if you do not then the chances of making money in the market are zero, and even if you invested those months to learn your chances are still not very high since you will never know how you will react when the markets move strongly against you.

[TheUltraElite]

Currently, there is a lot of useful information for new traders and if you take the time to learn, you will gain experience in this market. I think any investor needs to have great patience and have a reasonable investment strategy because if you cannot control it, you will easily lose money in this market.

Even with a lot of experience you can still lose. Still it can be mitigated to some extent with experience but not always avoided. Meaning that if you are trading you have to keep this mind beforehand that there will be outcomes not favourable to you and you have to survive with those. You will lose money and that is a part of the game.

I used to lose a lot in the past but after that hard time I became more confident starting trading.

Good to know. But be careful of overconfidence which often plagues a lot of traders. While it is true that there are tactful traders, there are also emotional traders and they dont last long.

[mersal]

If you are really into crypto trading and wanted to make money then you won't be asking such silly questions,already thousands of replies for this kind of question available on bitcointalk and all over the internet but for you its you have to build your own strategy to make money.

[Nawrod]

Well, of course that beginners can also trade. But you need to remember that trading is pretty difficult. Learn from your mistakes, watch the market's fluctuations and be patient. Another thing is to have a proper cryptocurrency exchange, check out for example CoinDeal because it's pretty intuitive and what's the most important - it's safe.

[TheUltraElite]

If you are really into crypto trading and wanted to make money then you won't be asking such silly questions,already thousands of replies for this kind of question available on bitcointalk and all over the internet but for you its you have to build your own strategy to make money.

There is nothing silly in asking questions you know. Clearing doubts is an essential part in the process of learning. However I feel the same because these topics quickly turn to a cesspool of spam with time if not locked. Again if I was in the place of the OP like 5years ago, I would been doing the same.

Few donts that I like to emphasise are not becoming emotional with losses and not chasing a price. Holding coins stubbornly is also not adviced.
Then again I have posted once but OP never took the time to respond.

[jcpone]

If you know to yourself that your not that skills yet or don't have any idea or knowledge about in trading better for you not to proceed it. Instead, you better begin with learning, feed yourself first about idea, knowledge and more about in basic skills in crypto trading dude.
with this for sure in the end once you are ready, it will be easy for you to get profit when you do trade in the actual platform exchange.

[rexxarofmoknathal]

If you know to yourself that your not that skills yet or don't have any idea or knowledge about in trading better for you not to proceed it. Instead, you better begin with learning, feed yourself first about idea, knowledge and more about in basic skills in crypto trading dude.
with this for sure in the end once you are ready, it will be easy for you to get profit when you do trade in the actual platform exchange.

I couldn't agree more with @jcpone it really is super important to know what you want and the process/es required to do so. Often, people get it wrong at first because they don't understand what they're doing and due to those few instances where they'd obviously lost money they become disheartened about trading, and that's a shame because it can be a decent way to make spare cash, if one knows how to do it and when.

To get a good coverage of what trading is all about and which exchanges, or what apps to use to track your portfolio, there're many resources out there that can help so just a quick Googling often provides you with more than enough digestible info.

[Blue_oxen]

If you are really into crypto trading and wanted to make money then you won't be asking such silly questions,already thousands of replies for this kind of question available on bitcointalk and all over the internet but for you its you have to build your own strategy to make money.

I agree with you. Internet always provides enough information for new users and does not take too much time to search, so it is best to take the time to learn. I think any new investor needs to do this to gain knowledge when joining the market because this is not a place where you can easily make a profit.

[Btc_1856]

If you are really into crypto trading and wanted to make money then you won't be asking such silly questions,already thousands of replies for this kind of question available on bitcointalk and all over the internet but for you its you have to build your own strategy to make money.

I agree with you. Internet always provides enough information for new users and does not take too much time to search, so it is best to take the time to learn. I think any new investor needs to do this to gain knowledge when joining the market because this is not a place where you can easily make a profit.

Exactly, a newbie should always spend their precious time in learning instead of thinking making money because money will follow once you attain good knowledge. Yes, the Internet is one of the best ways, to acquire knowledge because in crypto trading without knowledge, it is impossible for us to make profits.

[TheUltraElite]

I agree with you. Internet always provides enough information for new users and does not take too much time to search, so it is best to take the time to learn.

This is partially correct when it comes to something that is subjective is reviewing a product and cryptocurrencies. We see the shills on youtube promote shitcoins. Is that good for a newbie to accept? Definitely not if they are new to trading. It is their choice though.

I think any new investor needs to do this to gain knowledge when joining the market because this is not a place where you can easily make a profit.

Also because the market is manipulated by whales and shills we dont want someone to lose money because they did not inform themselves properly. Of course there is no end to the amount of information one can gather but a basic minimum knowledge about paid youtube videos should be there.

[rajeev577verma]

Newbies can find investing in stock market exciting and rewarding when they follow the guidelines of share market basics for beginners. Following are some basics –

1.There is a whole lot of information available on the internet, which states the basics of the stock market. You can also find useful information from service providers offering trading and Demat Account.
2.While investing, it is essential to enter the market at the right time, especially when the shares are trading at the lowest level.
3.Investors should be prudent about how much they wish to invest in each financial product.
4.Investors must track the performance of various products in your portfolio regularly.
5.Do get disheartened for making an erroneous decision. It is a learning experience.

[Rebisco]

I agree with you. Internet always provides enough information for new users and does not take too much time to search, so it is best to take the time to learn.

This is partially correct when it comes to something that is subjective is reviewing a product and cryptocurrencies. We see the shills on youtube promote shitcoins. Is that good for a newbie to accept? Definitely not if they are new to trading. It is their choice though.

I think any new investor needs to do this to gain knowledge when joining the market because this is not a place where you can easily make a profit.

Also because the market is manipulated by whales and shills we dont want someone to lose money because they did not inform themselves properly. Of course there is no end to the amount of information one can gather but a basic minimum knowledge about paid youtube videos should be there.

Not all of videos are useful and good to follow especially if the channel is forcing your or suggesting you to buy and hold altcoins. For newbies it is good if you will find a good mentor and not a guru that can be considered as self proclaimed because it can cause you to have disaster in your portfolio. You can learn to trade by watching but be always sure that the info is legit.

[pankaj1234]

Trading for Beginners is not an easy task because when a new traders comes he only looks on their records that this shares has done this but this is not the trading. You have to search everything ,look at demand and supply, look at their price history. Go to YouTube watch some trading tools. Best thing is that trading is name of your experience.
So beginners before trading please do your study and take some experience.

[Polar91]

What are the DOs and DONTs of bitcoin trading?

Simply, never buy at high and never sell at low. Just follow the law of supply and demand and apply everything you've learned in trading such as technical analysis, fundamental analysis, and etc.

Also any other advice for a beginner would be helpful.

Just a piece of advice, never depend on someone's analysis. You may use their analysis as reference but the final decision should still based on your understanding.

Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

I recommend Binance for wether begginers or veteran traders. It's not complicated to use and it's user friendly at the same time

[Andrew Parker]

Trading is always challenging and that’s where and why we need to be extremely careful with way we approach all this. It will help us go far and allow us to benefit. I love it with FreshForex broker since their educational setup helps a lot in pushing us to the right direction.

[Abhijeet Tripathi]

HI,

Over the years I've acquired around a few hundred dollars worth of bitcoin. I'm now looking to sell off part of my coins and start trading on the side of what I do personally for work. I was in the bitcoin scene awhile ago but i'm looking to get back into it. My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.

Regards,

Kyle aka Aggressive

I will suggest the same things that I have done by now.
And I think every trader would have done the same in starting days of their trade.
First one should find an exchange which is suitable for his country taking account of security , fee , volatility and other services provided by that exchange.
    1. Open your account in that exchange .
     2.Deposit money in your exchange . Many exchange didn't accept Fiat currency so first buy your bitcoin from an exchange which accepts Fiat currency like coin base.
     3. Then transfer your bitcoin to into your exchange. But never keep your assets in any exchange . Keep it in a wallet.
    4. Then start trading . Buy at low price and sell at high price.

    For beginners I would suggest to trade in USDT(tether) market . Tether is a stablecoin. USDT is pegged to the US Dollar . This allows traders to transfer the “fiat equivalent” in value between exchanges, without the need for normal fiat currency regulation. It's value is always 1$. No worry of fluctuations in market .
     Try to understand trading terms like Volume, market order , limit order, stop loss order ( imp strategy for beginners) . Try to understand the interface of exchange you are using.
     Try to understand fundamental analysis which is based on positive or negative news of cryptocurrencies.
     Try to understand technical analysis which includes reading price charts. Candlesticks , bull and bear markets , resistance and supports level , trend lines help in reading charts.
      Initially use small amount of your asset for trading then increase it gradually according to your expertise.
       I suggest to first start trading on a simulator without any fear. You can get many websites.