How To Go About Crypto Trading For Newbies.

[Abike007]

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

[GreatArkansas]

You really indeed need capital if you want to start trading. It's not easy, trading is risky too and you can't guarantee a return, you may lose your initial capital for trading.
That's why before doing a trade, you should be prepare, learn the basics, risk management, and study more, so you will not end up getting rekt.

[Upgrade00]

How To Go About Crypto Trading For Newbies.

Maybe newbies should not be trading.
Don't get me wrong, I understand that no one becomes perfect before their first trial, but you should be adequately prepared and know all or most of the theoretical aspect before venturing into the actual practice of trading.

• YouTube and course websites have lots of content for traders,
• There is also a trading discussion board here in the forum, look for useful tools that will be useful on your trading journey.
• Practice demo trading to get an idea of how trading is,
• Prepare yourself mentally

[HeRetiK]

Are you asking about how to get started with daytrading or how to get started with investing?

If you want to get started with daytrading, know that you probably shouldn't. It's a great way to lose money. In a bull market you'll feel like a genius but are very likely to perform worse than the rest of the market, even ignoring fees. In a bear market you're likely to get rekt either way. If you're adamant about getting into daytrading, start by googling for trading strategies and start reading from there. Just be aware that a lot of technical indicators are about as reliable as Astrology.

If you're asking about how to start investing in cryptocurrencies you should really start with learning how to use wallets and keep your coins safe first. This will make you familiar with the technology and more importantly, this will enable you to safeguard your coins yourself once you've taken the leap.

[Oshosondy]

Which one do you want to go for, you title suggest trading but your post suggest holding. Trading is riskier, if you can hold, it is not risky like trading, if you can be patient, you will see your bitcoin value increasing. But trading on the other hand is very different, you will need to learn about trading very well before you can start, beginners are the most vulnerable to loss, they lose money usually.

If you want to know how to trade, no one article that will help you, you will need to read three or more articles and watch videos. The basic you need to start with is spot trading, learn the trading order types

[Guide] - How to use different order types.

You need to find a good exchange for this, you can use Binance or Coinbase. There are many trading articles and videos you can get on binance.

I will strictly tell you again that trading is very risky, holding is better, but it remain you to decide. Even if you will start trading, use the amount of you can afford to lose, new traders do lose.

[n0nce]

A crucial recommendation and advice from me:
Try paper trading. I think there are even apps or websites allowing you to do that.

The idea is that you play with fake money, but treat it seriously, as if it was real. And then see how many hours you put into it and how much profit you were able to generate after 1 or multiple months.

Really, do your research, learn, watch videos, but use fake money for the first few months at least. That way you have 0 risk. And also you need no capital whatsoever. During that time, if you don't lose interest, you can save up money for a few months to build up some starting capital for when you will feel ready to play with your own real money.

Before that, just do a spreadsheet (or use a website that allows to do paper trades) and put in e.g. 10,000$ and write down each trade, like:

• 08/30/2021 | -1,000$ ~ +0.1BTC | profit 0$
• 08/31/2021 | +1,100$ ~ -0.1BTC | profit 100$

Or something like that. Check out guides and videos, there are probably better ways to structure your spreadsheet, but it's just to give you the idea what I mean with 'paper trading'.
Of course, the downside is that in case you get lucky in your first trades, you don't get anything since you just played with nonexistent / imaginary money, but in most cases you'll lose money if you start using real money right away. And you might not even have enough starting capital right now anyway.

[Pokapoka124]

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

Do you have knowledge of trading? No rule is don’t invest in something you know nothing about. If you are good at trading then go ahead. For other newbies, trading is a very volatile business. You could lose all your money to trading don’t be fooled by the luxurious lifestyles portrayed on the internet that’s just a magician’s trick of illusion. Trading isn’t as easy as it looks maybe you should learn the hard way before you will agree with me. I believe hodling is the best strategy for a beginner, hodling is same as “trading” or rather a long term type of trading. Unlike the forex market crypto trading does not have a demo account. They are no redos once a trade is initiated. I’m afraid your post is misleading, many newbies are looking for an easy way to double their money they call it “investing” but they usually end up in one scam or the other.

[Myleschetty]

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

The best way any newbie can start crypto trading is to first understand the market (the risky involved), the asset to choose from, the perfect entry and exit time but you must start from start investing not day trading.
After starting all this, you can take a crypto trading lesson where you learn how to read the chart and things that influence the price of the market. But you need to be careful when choosing class due to a lot of fake people out there and I will advise you to ask on this forum for the best class and online article you can read.

[Pmalek]

You have tons of resources on YouTube that will teach you about everything you need to know to start trading.
Some time ago I bookmarked this course by C0TT0NC4NDYTA. You can start with the beginner's course and move on to the advanced course after that. Make sure that you check out the rest of the content if you are serious about trading.  

[BitMaxz]

If you don't have an idea on how to trade there are many threads here with the same question you can just use the search button.
Newbies should know how to search here on the forum there are many threads related to this topic.

Anyway, almost all suggested above are the same but they don't give you enough information on how to start.
I'll give you a link that I think will help you learn much about trading and I'm sure you won't need to invest to train your trading skill.

Here's the link below for a complete list of guides and tools for crypto trading.

- https://github.com/SpiralDevelopment/Awesome-Crypto-Trading

Then head to "Cryptocurrency trading" and both "fundamental and technical analysis" it would be a good start to learn about them.
After that, train your skill like other suggested above read the "Trading simulator" it should provide you enough tool under that link that you can use on the trading simulator and apply what you learn from trading.

Just don't forget the basic thing "Buy low and sell high" don't be greedy and always wait for the right time before you enter the market.

[DdmrDdmr]

<…>

If trading is what is in mind (as opposed to purchasing and holding), then there are a bunch of platforms that provide a demo access to mess around and get the hang of it, many of which are summarized here: (LIST) Demo Trading Platforms.

Of course you’d need to do your homework first and learn the concepts and principal, otherwise the results are going to be even more lottery based than they already are …

[passwordnow]

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

Hello, welcome to the forum. There are a lot of tutorials and articles that will teach you how to start trading. Do not invest yet, invest and learn more in knowledge about crypto and how to trade.
This is a good guide and start for you: https://www.binance.com/ph/blog/421499824684901872/how-to-get-started-in-crypto-trading

[tranthidung]

• Newbie mistakes when trying to increase the deposit
• Why is it a waste of time and money to buy ready-made trading strategies?
• [GUIDE] Who are Professional Traders?
• Averaging. Helper or Enemy?
• Stop-loss order, one of the Best Weapons in Trading. Combine it with Stop-limit orders
• [BIG LIST] Crypto Trading Bots. Trading bots are not for newbies because "Garbage in, garbage out". Bot can not turn your garbage trading algorithms into profits.

To sum up, my advice for newbies: Let's start off with hodling and after they earn profit (x2, x5, whatever), let's use only 10% of profit for trading. For the rest, let's keep it for investment, hodling again.

[Questat]

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

In that case, I suggest for them not to try to invest in crypto as this will only bring them losses. Failure comes after being stupid, like if we wanted to make a thing we should also have to make searches how it works and how it was done. In general, it is our responsibility and a must to familiarize the thing we planned to for as this was only the way it gives us assurance that we are able to reach our goal.

[palle11]

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

it is our responsibility and a must to familiarize the thing we planned to for as this was only the way it gives us assurance that we are able to reach our goal.

Yes most people who want to earn money from trading or hodling don't have passion for it which makes many to rely on copy trading.. And regarding trading, it has to do with alot of passion to succeed on to it. It is not easy to make money just as you thinking trading is for quick money, sorry it is not. It is for people who are ready to learn the ropes, people who are already standing back on their feet before they even touch down.

Op you didn't really mention if capital was the challenge or learning how to do the trading. IMO learning how to do the trading is far more important than capital. Put your mind on learning, starting small but ready to lose and ready to get in back until you learn the rope. Those times you lose are meant for you to make corrections and move ahead to be better.

[Ararbermas]

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

before you think about it must educate your self first how you can handle the situation in trading..because when it comes capital you can provide  for it immediately, but skills and knowledge it will take too long to obtain especially for newbies.. So if you're planning to enter trading then you should priority the skills and knowledge before the capital because that's the most important to have a safe journey in trading..

[Emitdama]

• Newbie mistakes when trying to increase the deposit
• Why is it a waste of time and money to buy ready-made trading strategies?
• [GUIDE] Who are Professional Traders?
• Averaging. Helper or Enemy?
• Stop-loss order, one of the Best Weapons in Trading. Combine it with Stop-limit orders
• [BIG LIST] Crypto Trading Bots. Trading bots are not for newbies because "Garbage in, garbage out". Bot can not turn your garbage trading algorithms into profits.

To sum up, my advice for newbies: Let's start off with hodling and after they earn profit (x2, x5, whatever), let's use only 10% of profit for trading. For the rest, let's keep it for investment, hodling again.

That's a good list to give to newbies, I shall save that for the next time a newbie asks about it. I have to say that personally I believe that we should not be trading at all when we first start, because it takes time to find a lot of good coins to invest into, you could always buy bitcoin and just hold that but the diversification is required for greater profit which means that you need to find more, and if you pick like let's say 10 coins to invest into, then it is going to take a lot of time for you to be able to pick that 10 out of thousands of coins in existence.

This is why for your first few months you should not trade at all, pick good coins and have long term investments on them, and learn how to trade meanwhile, there are thousands of sources to find how to trade and learn some of them. This will result with a great return in the long run.

[AakZaki]

Frequently asked questions. I don't know how many questions like this arise.
Before creating a thread you should search first and you will find the answer.

Beginners have a big risk if they trade without knowing the basic knowledge of trading. before trading you must study it first. If you don't have capital, look for capital to trade by participating in airdrops and the like.
I've been in a beginner's position and it was full of struggles and I had to keep learning.

[adzino]

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

Just having money/capital doesn't mean that you can start investing right away. You will need to learn first. Try to understand the market. See how it works. Learn to read the charts and signals. Next you need to get familiar with the platform where you will be trading. Once you get used to it, start trading slowly. Don't go all in on your first trade. Do small trades. You will be making a lot of mistakes. Learn from those and eventually you will get good with it.

[Silberman]

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

Then they need to get that money out of those accounts because then they are going to be tempted to begin trading without the necessary knowledge, I know the temptation is huge and many may think they could miss their opportunity if they do not begin to trade the markets now but the market is going to be here for a very long time so there is not need to hurry yourself, take your time, read a few books and test a few strategies, this will be more than enough to keep you occupied for months, but if you are serious about trading then you must do it.