Trading for Beginners?

[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 .

[1715032358]

1715032358

[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.