New to trading

[SvonioneFromMangoCoinz]

Hello All,

I was hoping to get some advice as I am brand new to crypto and trading. So if I have bought an Altcoin or bitcoin at a higher price than it is now should I sell and buy the dip or does crypto not work like that? I am trying to find the best way to start making small profits.

Any help is appreciated.

When trading spot, don't try to make a small profit. Because the fee you pay and the volume difference will also cost you effort. When trading spot, you should set a clear trading plan. If you're someone who likes to surf for a small profit, you have to be on the market all day and not take your eyes off the screen. then your mind will be more stressed and it is not suitable for newbie. You should only buy at a fixed price and hold to sell at a higher price. With that short-term trading strategy, you will learn a lot.

[Kunnu]

I would suggest you that you should not do day trading because you're beginner at this time first you need to understand the basics of trading for this you may take help with demo trading sources I believe it will be helpful for you to learn the basics of trading and remember that whenever you do real trading never hesitate, you have to keep patience.

[Subbir]

Newcomers got to learn to trade before trading basic items got to be learned well I feel the danger in demo trading is high It takes an extended time to know but day trading is far easier Here the danger is far but demo trading. However, within the case of day trading short-term trading is required Later the quantity of the trade's capital will increase.

[ethereumhunter]

I would suggest you that you should not do day trading because you're beginner at this time first you need to understand the basics of trading for this you may take help with demo trading sources I believe it will be helpful for you to learn the basics of trading and remember that whenever you do real trading never hesitate, you have to keep patience.

If he can learn from many lessons, and he wants to practice the course, he can try day trading but with one condition. He needs to use small money or some money that he can afford to lose because he needs more experience to get the right time to trade. It is not easy to do day trading even if he tries to use demo trading because that will not the same as the real trading that he will start later. It is better to do regular trading at the exchange while we can gather more experience, so when he can improve his skills, he can try to do day trading.

[KrisAlex18]

Hello, welcome to this forum.

Take a look with these thread including some tips before you trade: https://bitcointalk.org/index.php?topic=5249066.0
If you are a beginner in trading, you should not try it, having a lack of knowledge on it would lead you miserable, you may lose your money if you do trading without enough knowledge and skills. Trading is really profitable but once you have tried it without skills or even knowledge about it for sure you will lose your money, it's better to try to watch some tutorials first on YouTube or have research about trading first.

Hello All,

I was hoping to get some advice as I am brand new to crypto and trading. So if I have bought an Altcoin or bitcoin at a higher price than it is now should I sell and buy the dip or does crypto not work like that? I am trying to find the best way to start making small profits.

Any help is appreciated.

Suppose you are a new trader, don't be obsessed with thinking profit first, learn to understand and analyze correctly about trading and coin price movements in the market, to get a profit in crypto trading, certainly not as easy as you think, so of course, you will get experience You yourself when you trade it.

Well said, there is no place to win with trading once you are only a beginner and don't have knowledge about it, better to have experienced first before trying to trade his amount of money.

[homhay]

in investment trading, you need to pay attention to two ways,
1. buy bitcoin / altcoin when the price goes down (red light)
2. sell bitcoin / altcoin when prices go up (green light)
but to implement this method, the key is to be patient and not panic when the cryptocurrency market goes up / down

[durilup]

I would recommend you to not invest your money first . Find an exchange who allow you to trade in demo mode . See how it works for you and after few months you can start trading with your own money

[Yamifoud]

in investment trading, you need to pay attention to two ways,
1. buy bitcoin / altcoin when the price goes down (red light)
2. sell bitcoin / altcoin when prices go up (green light)
but to implement this method, the key is to be patient and not panic when the cryptocurrency market goes up / down

But before these things, we should have to know more about crypto and tried to understand how it works. We can't go directly to do trading without having the basic learning otherwise it leads you into nothing. The consequences of being in a hurry are worst and that patients are really a key to success and to know that hard work will pay more than enough. Trading won't go that easy and risk-takers will only the one who goes to the top.
Keep learning is a way to help us.

[Assface16678]

Before I start I would like to give you a warm welcome into the world of trading before you make start on trading it is already at risk because it is all about your money to gain to lose. As a beginner in trading, it is better to make a research too about the tools and equipment you will use first having knowledge in the graph this is one of the most essential things you need to have, next find a platform that is suitable for your trades that gives you a lot of comfortable also it is better if you will find a secured trading platform. After that is looking for the best coin that is suitable for your trades not all the coins are good for long term or short term trading be specific about the coin. Use trading indicators there are a lot of people making the prediction on their own the trading platform already gives us a hint when is the right time to make an investment some of the trading indicators I used are RSI, EMA, VOL and MACD because it is easier to me when is the right time to buy and sell a coin. Also, trust your self this is the most important thing don't mind the suggestion of the people around you at the end you are the one who makes the decision every decision there is a consequence if you lose your trade it is okay if you win your trade it is good at the end every trader wants is to earn a profit.

in investment trading, you need to pay attention to two ways,
1. buy bitcoin / altcoin when the price goes down (red light)
2. sell bitcoin / altcoin when prices go up (green light)
but to implement this method, the key is to be patient and not panic when the cryptocurrency market goes up / down

But before these things, we should have to know more about crypto and tried to understand how it works. We can't go directly to do trading without having the basic learning otherwise it leads you into nothing. The consequences of being in a hurry are worst and that patients are really a key to success and to know that hard work will pay more than enough. Trading won't go that easy and risk-takers will only the one who goes to the top.
Keep learning is a way to help us.

Today there are a lot of platform offers paper wallet so the beginner traders makes a practice on the real time trading and also one of the trading mistake is double when you lose a trade it gives you a lot of risk and lose percentage always take care of it.

[TheGreatPython]

The best advice I could give you is never to go all in to anything. Always have some cash waiting at the side in case something major could happen, that is what I do, and never, not in a million years, have zero cash at the side.

I don't care how much money you have to invest, if you do not have 100 dollars at the side, you do not go into trading, if you have 200 dollars, you put 100 dollars aside as dollars, you put the other 100 dollars in installments like 25 bucks in 4 entry points. That type of logic where you never go all in, will help you never lose too much money in trading.

It may also cripple your profits as well and you wouldn't profit too much, it may look like it doesn't worth it, but in the end investment is not a quick thing. You should be making slowly but surely over course of years.

[Coin_trader]

Hello All,

I was hoping to get some advice as I am brand new to crypto and trading. So if I have bought an Altcoin or bitcoin at a higher price than it is now should I sell and buy the dip or does crypto not work like that? I am trying to find the best way to start making small profits.

Any help is appreciated.

It won't help if you sell it now. Bitcoin price will soon to rise back, a little patient can do to rescue. I suggest you not to pay attention the declining sentiment of the market price, it only seduces you to sell. If you have some back-up money in your pocket, make it reserve for the next drop. It was just adding capital into your first investment and that could help you recover while your first investment is stuck.

This method is practical for people who use bitcoin for future savings. Because you will loss tremendous amount of money if you follow this method while you are into trading. Hodling is way too different than trading. This method is what I usually suggest to my co-worker who wants to invest in BTC.

Right now. The best way to trade is to study first trading like enrolling on online class for trading. You can study on your own by reading books but I preferred to enroll in online class so that you will learn strategy from pro traders which is very essential in trading unless you want to loss money first to experience the real trading.

[babygun]

The best advice I could give you is never to go all in to anything. Always have some cash waiting at the side in case something major could happen, that is what I do, and never, not in a million years, have zero cash at the side.

I don't care how much money you have to invest, if you do not have 100 dollars at the side, you do not go into trading, if you have 200 dollars, you put 100 dollars aside as dollars, you put the other 100 dollars in installments like 25 bucks in 4 entry points. That type of logic where you never go all in, will help you never lose too much money in trading.

It may also cripple your profits as well and you wouldn't profit too much, it may look like it doesn't worth it, but in the end investment is not a quick thing. You should be making slowly but surely over course of years.

I can agree with you 100%. Always try to diversify your portfolio and never go all-in in 1 coin. Only invest money that you are willing to loose.
Have some cash available when there is a drop, I always put a limit order in.

The most difficult part in trading is having control over your emotions. If you want to be successfull, you need to put your emotions aside.

[FanEagle]

I was hoping to get some advice as I am brand new to crypto and trading. So if I have bought an Altcoin or bitcoin at a higher price than it is now should I sell and buy the dip or does crypto not work like that? I am trying to find the best way to start making small profits.

Are you new to crypto trading or trading itself? Because, you sound like you are complete newbie for entire trading field. If I am correct, please take time to educate yourself and then try to trade cryptos. If you are a busy person then you may buy bitcoins alone and keep holding it for next 12 to 18 months to get some bigger profits. Do not try trading altcoins without sufficient knowledge about predicting the market directions; else you may get trapped by market fluctuations.

You can study on your own by reading books but I preferred to enroll in online class so that you will learn strategy from pro traders which is very essential in trading unless you want to loss money first to experience the real trading.

There are many more study materials on crypto trading and about general trading strategies are available; just googling will help anyone. I recommend to go for video tutorials on youtube. You mentioned about some online classes, could you link them here so that it would be more specific and easy to find for the people like OP and myself .

[Mahanton]

The best advice for a novice trader is to find a decent company that is engaged in trust management, trading your funds.

What do you mean? Explain to the newcomer, give details.​

Better to ignore these kind of advises because its never been a wise move if you do let your funds be handled out by those so called fund managers/trust companies.Why? you wouldnt know if they are totally trading up your money in full seriousness which is entirely different when
you do trade your own funds in your own hands.It is much worth it even though you lost then at least you do still get the experience you do need
that would really be needed for your trading career.

Never ever consider this kind of option and its always good to trade on your own even on small amounts specially when you are
just still learning or starting from scratch.

[Utoy101]

Hello All,

I was hoping to get some advice as I am brand new to crypto and trading. So if I have bought an Altcoin or bitcoin at a higher price than it is now should I sell and buy the dip or does crypto not work like that? I am trying to find the best way to start making small profits.

Any help is appreciated.

Well,  welcome to crypto trading and to be honest, i hate to break this to you but there's a lot of similar cases as yours flying around everyday. Hoever, there is  this general saying that you only lose not when a coin got dipped but you lose the moment  you sell at a much lower price than what you bought.

[Wexnident]

The best advice I could give you is never to go all in to anything. Always have some cash waiting at the side in case something major could happen, that is what I do, and never, not in a million years, have zero cash at the side.

I don't care how much money you have to invest, if you do not have 100 dollars at the side, you do not go into trading, if you have 200 dollars, you put 100 dollars aside as dollars, you put the other 100 dollars in installments like 25 bucks in 4 entry points. That type of logic where you never go all in, will help you never lose too much money in trading.

It may also cripple your profits as well and you wouldn't profit too much, it may look like it doesn't worth it, but in the end investment is not a quick thing. You should be making slowly but surely over course of years.

The term never goes all in is kind of wrong but rather it should be only trade what you can trade. Don't use all of your assets. Always remember that what you've traded can already be considered as lost money, so only trade the amount that would not compromise your everyday life in any way. Not going all in still means to invest as much as possible, only leaving money for emergency after all.

I agree with trading always takes course over a few years. I remember seeing an article about a trader about to get it into the names of one of the few millionaires in the world by having a small investment into trading which he made into millions in eight years. That's a long time but in trading, that's still around the short end imo.

[Hemady17]

Hello All,

I was hoping to get some advice as I am brand new to crypto and trading. So if I have bought an Altcoin or bitcoin at a higher price than it is now should I sell and buy the dip or does crypto not work like that? I am trying to find the best way to start making small profits.

Any help is appreciated.

There are only two ways that will help you in trading.
1. Reading&Watching trading tutorials, strategies and techniques. Don't depend on signals because most of them are not really helpful.
2. Experience, you can learn in experience because everything that you failed before can be a lesson to your life. If you lose 2k dollars in trading, I think you will think of a good move for your next trades.

Overall, trading isn't like ponzi schemes where we can make money easily. It takes time, determination and perseverance to master trading.

[BuNga_cute]

If you buy bitcoin or altcoins at a high price, you should not sell it now. Just hold it until reaches the target sell, and don't
taking profits too big. If you already reaches 3% profit sell immediately, it's better to have small profit but frequent. And I suggest
not using all the capital we have, save a part in stablecoins. So when the price of the coins we buy goes down, we can buy more
at a cheaper price.

[rathaha10]

Hello All,

I was hoping to get some advice as I am brand new to crypto and trading. So if I have bought an Altcoin or bitcoin at a higher price than it is now should I sell and buy the dip or does crypto not work like that? I am trying to find the best way to start making small profits.

Any help is appreciated.

To be honest, that's the best way to go about it when your portfolio start dipping because one thing is sure in cryptocurrency market, the market condition happens in cycle and each of them must occur no matter how long it takes so buying and stocking up your portfolio when the market provides the downtrend opportunity is a good move... All you have to do afterwards is wait for bull to take off your profit

[michellee]

Hello All,

I was hoping to get some advice as I am brand new to crypto and trading. So if I have bought an Altcoin or bitcoin at a higher price than it is now should I sell and buy the dip or does crypto not work like that? I am trying to find the best way to start making small profits.

Any help is appreciated.

To be honest, that's the best way to go about it when your portfolio start dipping because one thing is sure in cryptocurrency market, the market condition happens in cycle and each of them must occur no matter how long it takes so buying and stocking up your portfolio when the market provides the downtrend opportunity is a good move... All you have to do afterwards is wait for bull to take off your profit

If he still has money, he can buy more bitcoin or altcoin because he will get another discount price. But if he doesn't have any money, he has two option. He can sell at a price now or wait for a while. Sometimes, the price can bounce up to the higher price. Every decision that he will take will have a risk, and he needs to know about that so he can be careful to decide.