Starting as a Trader and Trading Bitcoin

[MCobian]

In a situation like now where making money is difficult, because the corona virus spreads so fast. Make us required to make money
from home. So one of the solutions is cryptocurrency trading, which I will choose bitcoin for the first coins for trading. I chose bitcoin
because it's the most profitable compared to other coins. The basic strategy that I use is taking 3% profit per day, but I also maintain
the capital that I have by using a 10% stop loss.

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[BlackFor3st]

I know a lot of people who are interested in making money now more than ever just because of the current situation that we have now. Most of us are in lockdown, and people are starting to need to have that extra income more than ever.

IF you are that person, what would you like to know before starting to dwell into the Trading Space?

• Do you want to be introduced to Bitcoin first?
• What is Bitcoin?
• How could you make money in Bitcoin?
• Basic Trading strategies
• etc

The list above is just an example, feel free to make your own.

This can be of help to many too, knowing that some are just starting, and they are waiting to get around to trading. And if you are a new trader, what do you expect in this market?

Of course as they are the necessary equipments that you need in order to earn a profit in trading and lessen the risk of your hard earned money. Trading without learning the basics of trading is like going to a battle without a gun, you will just lost your money without any fight.

Once you are fully equip already and you think that you are ready to start your first trade then experience will be your next target and make sure that you will not create the same again and again.

[Latviand]

Personally, I am not a type of person who likes a lot of introduction, a basic knowledge about bitcoin and how to trade would be enough for me.

To other things, me too but in trading? I guess it will take you more time than what you expected before getting through with it. A simple strategy won't work with all market situation, you must know how to apply every strategy with any market situation, that's what I learned when I began. There are fast learner people who can easily cope up with simple steps but there are also people who isn't that fit for the work however there are way to get to it.

All of us started at zero in our cryptocurrency life, we started without even knowing even a single information about market, strategies, technical analysis or any terms that involved in trading. Sometimes, we need more knowledge and seek more information so that we can explore the movement and how trading works in the market. It doesn't mean that because you know the fundamentals and basics in trading, you can always win profit and you will not experiences losses. The key to success and become an effective trader is through practice, experiences and failures. As you learn and learn until you overcome your mistakes, that's the time where you can adapt to the reality and situations in trading. You don't need to hurry up, just take it slowly step by step and you will reach your goal.

[makalve2]

Have anyone used indicator script from tradest.io?
I’m looking someone who can tell is it really that accurate.

[Assface16678]

Today there are a lot of people who want to earn more money some of them do have a job already and some of them just want to have extra money as a student or unemployed for a while just taking some other things need to focus first. While the bitcoin today is rapidly increasing it becomes more and more popular and many people starting to make adaptation and changes to support the use of the bitcoin but not only the bitcoin itself but the whole cryptocurrency also trading are one of the most popular methods of making more income or profit by just having enough knowledge and skills you can now predict the market price of the coin and make a profit but this is not just by predicting always having a good market strategy when is the right time to buy a lot of coins when the market dip and sell immediately when they think they already got a profit. By just a simple technique you can now make a huge income and monthly. Don't mind if you do not get a huge profit always think that profit is a profit no matter what happens.

[TheGreatPython]

I sometimes wish I could be good at day trading and ake profit every single day. Although I trade, but not as such active and sometimes, I experience some drawbacks on trading. For instance, the fear of losing draws me back. My urge right now is to see that I gain more courage to trade, irrespective of whether I will gain or lose.
Things are now quite different. I think i now have the time and will focus more on it.

I will suggest you to try the leverage trading which allows you to trade with much more funds and you can learn about trading losses by actually not investing much, when I recently started to consider trading as a serious task, I went to Binance and used their leverage trading option where they gave me 5x more money which I will put and the interest if I remember it right was 0.001% hourly which is negligible if you are a serious trader.

Apart from that I believe basic knowledge about bitcoin is must as OP mentioned and that helps you understand the mechanism like when halving will happen, how it will impact the price and market and other essential information can be used wisely in trading.

[Listratennt]

If you still believe that you can earn money without trading bots, then you are a fool.

Unfortunately, it is not so easy to find high-quality software. Also, the bot needs to be configured correctly.

I recommend this resource https://tradingbot.info
Just for beginners it will be useful. It has all information needed to choose and start your trading bot for crypto

[RealMalatesta]

If you really want the basics of bitcoin and how to trade it, I would say this ; Bitcoin is a currency that is also a commodity, think about it like the gold coins people used to have thousands of years ago and how they used it, but also the gold of today as well.

You can use it like dollars and just spend it on a cafe for the coffee you drank, but also it is like gold where you can store it for not losing value when dollar devalues from inflation. And how to trade it is basically the simplest thing would be just putting all your money into bitcoin for long term in installments, like if you have 1000 dollars to put into bitcoin, put 100 dollars in June, put 100 in July, put 100 in august and keep doing that until you have no more money to go into it in order to average the purchasing price.

[rexxarofmoknathal]

I'd say some words of caution if you've just started trading and jumped straight to Bitcoin trading. Personally, I would learn trading using another crypto coin not Bitcoin since this is seen as the most volatile coin and possibly the one which we'll cause you 99.99% of you losses in trading. I'd start off easy with some altcoins like ripple but still not etherium just until you learn the swing of trading 

[Ridwan Fauzi]

If I newbie I'll choose to learn how crypto currency work before I start to learn the basic trading. Yeah I guess that is the important factor to know. It will be useless when I learn the basic knowledge against trading but I didn't know where I'm trading, it will bite me. As far as I know crypto currency and different investment/trading place in this world is quite different. The volatility price is the factor who can differentiate between crypto currency and other investment place. You will lose more than half in your capital just a few times and otherwise, there is no investment place who can do that. At least if I know crypto currency price first I won't leave when I got a lot of lose.

[Kelvinid]

Here is my list before start trading;

1. Know the basic trading strategy
2. Search for a new and effective strategy
3. Trading tools that could help more
4. Trading platform (friendly-user)
5. Coin/s to trade

Maybe this is good enough to start. Knowledge and skill will actually develop once we already engage in trading and it needs time to make it nearly at its perfection.

[Zemomtum]

The best is to have the basic knowledge of trading strategies for some months before dwelling in trading of any digital assets. With this, most things will not appear to be magic when you get started eventually.

[darewaller]

All the information is available in the Internet you just need to show an effort and have some time to research it.

But there is a acute lack of proper source, I mean there are videos that are aimed at trying to steal some bitcoins or inject some code into your system through which they can always steal your bitcoins. I believe having a trusted source for information and tools for bitcoins trading will be a good idea.

I can't believe that someone who wants to be a Bitcoin trader needs to learn what Bitcoin is and how it works. He'd have to be like that guy who wants to be an astronaut but can't even name planets of the Solar System.

I disagree, if you are buying any asset and even if you are trying to sell it the next day it is always recommended to gather all the possible information if you are investing significant money and later that helps define your trades, I mean a good trader for example will always invest in such times price is increasing, for example right now while someone who has zero knowledge might be tricked into wrong trades.

If you have to teach a future trader about the basics of Bitcoin and reading charts you can expect that trader to fail miserably.

Can you put more emphasis on why would that happen? I mean knowing a certain asset/entity and then investing/trading with it will actually help in my opinion. With all respect, I would love to know why you said that.

[imstillthebest]

The best is to have the basic knowledge of trading strategies for some months before dwelling in trading of any digital assets. With this, most things will not appear to be magic when you get started eventually.

that is if your not a newbie anymore but for a complete noob , learning the basics knowledge of trading ( not strategies  ) or on how to trade and alike  is the most important lesson  . then after that , you can proceed on strats  on how to improve your trading career   .

  and you cant just say trade any digital assets because not all digital assets on this crypto world are legit or safe  but most are only scams and are willing to take your money instead of you earning from them 

[Golftech]

Here is my list before start trading;

1. Know the basic trading strategy
2. Search for a new and effective strategy
3. Trading tools that could help more
4. Trading platform (friendly-user)
5. Coin/s to trade

Maybe this is good enough to start. Knowledge and skill will actually develop once we already engage in trading and it needs time to make it nearly at its perfection.

Acquiring those things takes time, but if you are keen in learning it won't be that hard as you are willing to make things achievable, traders needs to learned the very concepts of trading, basic to advanced are learnable if you are aiming to succeed.
Trading is risky but if you do your research and you prepare yourself the chance to gained profits is possible.

[culuuton]

Newbie needs an experienced consultant (his best friend is best) to limit risk, I think this is essential before he starts trading. Everything can be learned slowly, but sometimes money is not enough to wait for him to learn everything.

[slaman29]

In a situation like now where making money is difficult, because the corona virus spreads so fast. Make us required to make money
from home. So one of the solutions is cryptocurrency trading, which I will choose bitcoin for the first coins for trading. I chose bitcoin
because it's the most profitable compared to other coins. The basic strategy that I use is taking 3% profit per day, but I also maintain
the capital that I have by using a 10% stop loss.

Going to stop you right there my friend. I remember in the last economic crisis a lot of my friends also thought. Shit, we are losing our jobs so let us make money from home. I remember all the google ads, I even fell for some and clicked to read about the amazing method people use to make hundreds of dollars just from their laptop.

It's all a scam. You're not a good trader. Real traders don't even have time to come online here and chat.

[santosmichael]

in my opinion what is needed before entering into the world of trading is knowing the risks,
then find out our target,
and how we can meet our targets,

and when it comes to ways, in my opinion at least 1 year we try a demo account first, then dare to jump right in, if we want to trade manually.

[babygun]

The basics for a trader: buy low, sell high lol  .

Nobody can really predict the price of a bitcoin, do your own research and make a plan. At which price do you want to buy bitcoin? For what price do you want to sell it?
What is your timeframe? ...

[Yatsan]

The basics for a trader: buy low, sell high lol  .

Nobody can really predict the price of a bitcoin, do your own research and make a plan. At which price do you want to buy bitcoin? For what price do you want to sell it?
What is your timeframe? ...

Mann, trading is not like gambling which you are going to have a 50/50 chance of winning. you can lower the risk by studying and analyzing the market! and being always updated is good too.

Here's my list before trading whether it's a short term or long term :

• Where is the support?
• Where is the resistance?
• What is the price
• is it good price to enter the market?