Looking for the best resources to learn to trade crypto

[Bergkampsballs]

Hi,

I started investing at the end of October and due to some luck have increased my investment by 27% so far but I realise that this bull market will not last forever so I plan to HODL for the time being whilst I learn how to trade so that when the good times end, I can still make money through trading in digital currencies.

What I would like to know from people who have learned to trade is which resources have helped you to learn the most?

I would be interested to hear about your favourite book recommendations, website recommendations, video recommendations, helpful forum posts or quality training lessons etc

I understand that there's some good training courses on Udemy, I'm happy to pay a bit of money for a really good quality training course if these have helped others?

Thank you

(Apologies that this is in the wrong forum, it will not allow me to delete the thread now)

[SquirrelJulietGarden]

You can get some articles from Binance Academy.

12 Popular Candlestick Patterns Used in Technical Analysis
What Is Technical Analysis?
7 Common Mistakes in Technical Analysis (TA)
5 Essential Indicators Used in Technical Analysis

An Introduction to Price Action Trading Strategies

Candles, volume, price actions are enough to trade. Don't trade with all your money and afford loss when you are trading. Investment is safer and is better to bring profits to your capital. Trading is fun and help you lively stay in the market but you can get loss.

[clifjw]

I'd highly recommend anything by Andreas Antonopoulos. I started looking into crypto (specifically Bitcoin) in September, although I didn't buy any as I wanted to understand it first. Looking at the price now it may have been foolish not to buy some but hindsight is a wonderful thing and I guess knowledge is far better than if I'd dived in and made a mistake so I'm not bitter lol.

But seriously, have a watch of Andreas Antonopoulos YouTube videos where he does talks on Bitcoin. I find the underlying technology and the passion he clearly has around Bitcoin far, far beyond making money to be absolutely mesmerising. This guy is all about what Bitcoin can do for the world and explains it and the background in very easy way to understand. You might also want to look up the Joe Rogan podcasts where Joe spoke to Andreas. Seems to be even more simple watching those and in my opinion absolutely fascinating.

Bookwise you can go wrong with Master Bitcoin which is free reading it from the GitHub - https://github.com/bitcoinbook/bitcoinbook

EDIT: Sorry I now realise that you asked specifically about resources to learn about trading. My apologies. My comments still stand around general Bitcoin knowledge though, otherwise ignore. 

[Porfirii]

A little piece of advice: if you just search and read information about trading you may fall in the confirmation bias, because your point of view could be too narrow.

Many authors believe that Technical Analysis, like Economics, are both pseudoscience that look for patterns once the event has happened. Past performance is not guarantee for future gains, so believing you can predict "scientifically" how the market will behave could fall under some kind of magic thinking. To me, trading is more like gambling (although it may be true that you can play a bit with the information available before others do if you are really on the topic all day).

If you want to learn about trading, I suggest you to read Taleb's "Black Swan" first as he knows one or two things about the topic and seems sincere when he talks, something hard to find nowadays IMO. Don't expect to learn any tools there, but other kind of insight.

If you want to know more about crypto, like clifjw has just said, I would advise you to read Andreas Antonopoulo's Mastering Bitcoin and other works, if I had read them myself, but I have them still pending.

[HabBear]

Someone just gave you links to really good resources. I want to share some mental advice for you because success in trading comes down to removing emotion from your buying or selling decisions.

What do I mean by emotion?

• If you own Bitcoin and watch it run up as it has in the last few weeks and you'll feel great, then at somepoint you'll wake up one day and see the market falling back (it happens) you may decide not to sell because you've become attached to those gains you see on your screen in your wallet app
• Or, maybe there's a coin you think could be a solid play but it's been getting crushed lately and because it keeps falling you decide not to buy - red on the screen is scary - then you wake up one day and that coin is up 15% and you've missed the jump

Those are decisions based on emotion. They crush every trader's performance. You can avoid it by being aware of it.

So what do you do to fight the emotion?

(1) Have a plan and stick to it - e.g., you're going to trade on 20% swings, so when the coin gets to 20% above your buy price you sell it to lock in those gains. Then once the price has stabilized...where ever that is...you wait for it to drop 20% from that new high and buy in on that dip.

(2) Focus on 2-3 crypto currencies at a time so you can become familiar with their price volatility patterns

(3) Always use a fiat currency as the basis for comparing your cryptocurrency values, e.g., comparing BTC to XRM doesn't work, it'll just confuse your process

(4) Learn about technical analysis before you read about anything else. Understanding how Bitcoin or crypto work actually doesn't matter as much as understanding how an investments trade without news driving buying decisions...crypto doesn't get much press, trading is based on the daily/weekly fluctuations in buyer and seller activity

A Beginner's Guide to Technical Analysis

Google "Point and Figure Methodology" and read everything, it's the basis for developing your own technical analysis charts. Technical analysis is the practice of using price swings, tops, bottoms, and breakthroughs to predict when price swings are likely to happen.

-------

If you want a historical and theoretical perspective on bitcoin and the future of blockchain than Andreas is the name you need to follow. But he won't give you investment advice, his mission is to spread the gospel of cryptocurrency and blockchain and around the world...and he's really good at it. Read his stuff when you're waiting for your cryptos to start their swings, it'll occupy your time while you're waiting for action!

I'd highly recommend anything by Andreas Antonopoulos.

If you want to know more about crypto, like clifjw has just said, I would advise you to read Andreas Antonopoulo's Mastering Bitcoin and other works, if I had read them myself, but I have them still pending.

[Bergkampsballs]

But seriously, have a watch of Andreas Antonopoulos YouTube videos where he does talks on Bitcoin. I find the underlying technology and the passion he clearly has around Bitcoin far, far beyond making money to be absolutely mesmerising. This guy is all about what Bitcoin can do for the world and explains it and the background in very easy way to understand. You might also want to look up the Joe Rogan podcasts where Joe spoke to Andreas. Seems to be even more simple watching those and in my opinion absolutely fascinating.

Bookwise you can go wrong with Master Bitcoin which is free reading it from the GitHub - https://github.com/bitcoinbook/bitcoinbook

A classic case of good decisions having bad consequences! I have been very fortunate that my decision to jump in before I fully understood the market has had the effect that I was hoping for.

I do like Joe Rogan, I didn't know he had done a podcast on Crypto so will take a look.

You can get some articles from Binance Academy.

Candles, volume, price actions are enough to trade. Don't trade with all your money and afford loss when you are trading. Investment is safer and is better to bring profits to your capital. Trading is fun and help you lively stay in the market but you can get loss.

These links seem to be just the kind of resource that I was hoping for. I will have a good look through them. I have a lot of experience with bankroll management from my poker days so will be extra careful, cheers.

If you want to know more about crypto, like clifjw has just said, I would advise you to read Andreas Antonopoulo's Mastering Bitcoin and other works, if I had read them myself, but I have them still pending.

I guess 3 recommendations out of 4 posts settles it then lol, I will check him out.

[Bergkampsballs]

Someone just gave you links to really good resources. I want to share some mental advice for you because success in trading comes down to removing emotion from your buying or selling decisions.

What do I mean by emotion?

• If you own Bitcoin and watch it run up as it has in the last few weeks and you'll feel great, then at somepoint you'll wake up one day and see the market falling back (it happens) you may decide not to sell because you've become attached to those gains you see on your screen in your wallet app
• Or, maybe there's a coin you think could be a solid play but it's been getting crushed lately and because it keeps falling you decide not to buy - red on the screen is scary - then you wake up one day and that coin is up 15% and you've missed the jump

Those are decisions based on emotion. They crush every trader's performance. You can avoid it by being aware of it.

So what do you do to fight the emotion?

(1) Have a plan and stick to it - e.g., you're going to trade on 20% swings, so when the coin gets to 20% above your buy price you sell it to lock in those gains. Then once the price has stabilized...where ever that is...you wait for it to drop 20% from that new high and buy in on that dip.

(2) Focus on 2-3 crypto currencies at a time so you can become familiar with their price volatility patterns

(3) Always use a fiat currency as the basis for comparing your cryptocurrency values, e.g., comparing BTC to XRM doesn't work, it'll just confuse your process

(4) Learn about technical analysis before you read about anything else. Understanding how Bitcoin or crypto work actually doesn't matter as much as understanding how an investment trades with out news driving buying decisions...crypto doesn't get much press, trading is based on price swings.

A Beginner's Guide to Technical Analysis

Google "Point and Figure Methodology" and read everything, it's the basis for developing your own technical analysis charts. Technical analysis is the practice of using price swings, tops, bottoms, and breakthroughs, to predict when price swings are likely to happen.

-------

If you want a historical and theoretical perspective on bitcoin and the future of blockchain than Andreas is the name you need to follow. But he won't give you investment advice, his mission is to spread the gospel of cryptocurrency and blockchain and around the world...and he's really good at it. Read his stuff when you're waiting for your cryptos to start their swings, it'll occupy your time while you're waiting for action!

I'd highly recommend anything by Andreas Antonopoulos.

If you want to know more about crypto, like clifjw has just said, I would advise you to read Andreas Antonopoulo's Mastering Bitcoin and other works, if I had read them myself, but I have them still pending.

Thank you for taking the time to write out this post. It's very eloquently explained so that a beginner like me can easily understand exactly what you are talking about and also why it is so important. I think this is the most helpful post that I have come across so far on this forum as I feel that I could have easily overlooked the importance of these concepts had it not been so well explained. I have even copied your words onto my spreadsheet that I am creating to help me understand trading cryptocurrencies and will be sure to check out the links and suggestions that you made. Cheers!

[Pokapoka124]

You can learn how to the basics of trading on https://blockchain-university.teachable.com. I just began the course and its been helpful. You could also try https://whaletank.trade/  As a subscriber you can access premium channel, premium btc updates, premium signals, all of the features on the site and the autotrader.

[wsxqaz123]

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