Trading as a newbie?

[Jackthelad]

You could literally try this by old fashioned paper trading.
Make a note of what price you would have bought say XRP at , when it's 10% down,  set alerts on Coinbase for the 10% rebound and record your results.
It may take a few days weeks or months

[alastantiger]

Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.

I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

Anyone done something similar or will it just lead me to losing my money?

I remember researching the market and my alternatives when I first chose to dabble in trading. I initially thought, I will figure it out, but I want to treat this seriously. Not just to make money, but to improve at it and perhaps assist someone later on when they have inquiries. I'm looking forward to the next bullrun because I'm purchasing as much as I can right now. The risks are higher, but they are manageable.

[AnonBitCoiner]

Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.

I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.

I will recommend you to first learn the basic concept and some tool before starting trading. Most of users using Charts for trading , if you learn chart reading then it will be better. You can loss as a newbie to trader  soTry to start with low amount and then When you have full experience then you can Start real earning.

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

First of all we should know why one coin is down 15%. Maybe it touches ATH high and then it's down 15%. Another possible reason may be there are some bad News about this coin in the market. If you invest in this coin , it will never give you profit. Suppose Solona down 30% from now but taking entry at this point is still risky because in two week it did 3x. I will not recommend this

Anyone done something similar or will it just lead me to losing my money?

I will recommend to make daily trading on low Market cap coin. If you find some these coins in BTC pair then it will be better. Choose those coins where you find high volatility in 24 hours. Now main thing to know is the ATH and all time low of this coin in one week. Now wait for token to down to lowest range and then sell below high range. My friend making huge money by just using this sample method.
Note: Risk is also involved because some time these coins delisted from exchange or market dump hard .

[martyns]

Trading can somehow seem so complicated to newbies and it takes frequent research and calculation to be able to trade successfully as a newbie.Newbies who have not had experience of trading before needs to have a mentor,who will teach him how to trade because the business of trading is a risky one,and one must be determined and have a strong mindset before venturing into the game.
The game of trading is one that requires a strong mind because it's involves risk,it is a two way thing,either loosing or winning,but good strategy will make you win.

[Obari]

It seems @OP is looking seriously for a pump and dump project and you should know that it is very much risk to invest in altcoins and hope you're ready for whatever consequences it brings before you.
I will advice you rather invest in Bitcoin for a long time(not a financial advice and you should do your research please)
As Bitcoin has proven to be the hope of the common man.
And if you must going into day trading then I will also advice that you go learn the necessary rudiments and bet yourself fully equipped with the basic trading knowledge.

[btc78]

Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.

I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

Anyone done something similar or will it just lead me to losing my money?

of course this is fine, but how long is your tolerance ? I mean how long you can carry the dumping or losing once it crosses your investments?
if you have been seeing this market for a time now then you knew that things might come worst in the coming days after we bought them.

and also we knew that buying Low selling High is the perfect strategy but how deep you can keep? that is the question you must answer first.

[Fivestar4everMVP]

Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.

I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

Anyone done something similar or will it just lead me to losing my money?

By now, I believe you must have gotten all the information and guide you need to kick start your trading business, but to add to what I believe some other persons much have said.
As you newbie, don't be in a haste to start making money through trading, it takes time, there are many things you will have to learn, and you need time, if you are considering trading as a way for you to become rich over night, you will end up being frustrated and would at some point give up.
So if you want to succeed in trading, be patient and give yourself time, and also be consistent, do good research on every coin you want to buy and make sure your are only buying quality coins with good usecase, don't go buying dead coins with dead community, you will just end up making losses.

[Elderyoung]

If you want to gain money rather than lose it, day trading requires ability. If you're new to day trading, you have a lot to learn.

[dg2010]

Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.

I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

Anyone done something similar or will it just lead me to losing my money?

of course this is fine, but how long is your tolerance ? I mean how long you can carry the dumping or losing once it crosses your investments?
if you have been seeing this market for a time now then you knew that things might come worst in the coming days after we bought them.

and also we knew that buying Low selling High is the perfect strategy but how deep you can keep? that is the question you must answer first.

It's true, holding on during a dump or losing streak can be tough, but it all comes down to how much you're willing to tolerate. Are you prepared to ride out the ups and downs, or will the volatility make you anxious? Only you can answer that.

One thing to keep in mind is that buying low and selling high is the goal, but there are no guarantees in the market. You have to be comfortable with the fact that there's always a risk involved. That being said, if you do your research and invest in solid projects, the chances of losing are much lower. Just remember to have a clear understanding of your own tolerance and be prepared for the possibility of losses.

It seems @OP is looking seriously for a pump and dump project and you should know that it is very much risk to invest in altcoins and hope you're ready for whatever consequences it brings before you.
I will advice you rather invest in Bitcoin for a long time(not a financial advice and you should do your research please)
As Bitcoin has proven to be the hope of the common man.
And if you must going into day trading then I will also advice that you go learn the necessary rudiments and bet yourself fully equipped with the basic trading knowledge.

Unfortunately, negative perceptions of the crypto industry are still out there and we just can't change everyone's perspective overnight. For those who aren't particularly interested in crypto, it might be best for them to steer clear of this technology given its volatility and inherent risk. If they do choose to invest in Bitcoin or any other cryptocurrency, they're likely to experience temporary losses, especially during bearish markets. But on the bright side, the negative image of crypto keeps people grounded and aware of the potential risks. It's important to approach crypto with caution, but that's true for any investment.

[moderator's note: consecutive posts merged]

[mvdheuvel1983]

Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.

I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

Anyone done something similar or will it just lead me to losing my money?

Trading cryptocurrency can make you a millionaire in a minute or make you the poorest person on the surface of the earth. As a newbie, you are sure going to making loses therefore, you have to brace up for it.
As a newbie you should first make you up mind to sit down and study after you have decided whether you want to be a long-term trader or a short-term trader. Short-term traders trade more actively for a short period of time than the longer-term traders.
As a newbie be willing to learn about risk management because itself is risky and you must learn effective strategies to manage trading risks. You should also be keen on learning how to place trades and read charts.
Another of your focus should look towards what trading platform is best for you. If you can know all these, you are off to a great start.

[Pamadar]

It seems @OP is looking seriously for a pump and dump project and you should know that it is very much risk to invest in altcoins and hope you're ready for whatever consequences it brings before you.
I will advice you rather invest in Bitcoin for a long time(not a financial advice and you should do your research please)
As Bitcoin has proven to be the hope of the common man.
And if you must going into day trading then I will also advice that you go learn the necessary rudiments and bet yourself fully equipped with the basic trading knowledge.

Unfortunately, negative perceptions of the crypto industry are still out there and we just can't change everyone's perspective overnight. For those who aren't particularly interested in crypto, it might be best for them to steer clear of this technology given its volatility and inherent risk. If they do choose to invest in Bitcoin or any other cryptocurrency, they're likely to experience temporary losses, especially during bearish markets. But on the bright side, the negative image of crypto keeps people grounded and aware of the potential risks. It's important to approach crypto with caution, but that's true for any investment.

I see that point, with ngative impressions people who are planning to start working with crypto will be aware of the possible risk, they will add good protection by learning all the possible factors that may affect the market.

Better to have that impression to be open minded and not just easily be convinced of wrong ideas
with quick benefits and easy access to earn money.

[kotajikikox]

It seems @OP is looking seriously for a pump and dump project and you should know that it is very much risk to invest in altcoins and hope you're ready for whatever consequences it brings before you.

personally ? I don't think that he is looking for pump and dump coin instead he is looking for Buying in cheap price and selling when it grows back, meaning he wanted to take the advantage of lowering project and then selling them back to circulation.

I will advice you rather invest in Bitcoin for a long time(not a financial advice and you should do your research please)
As Bitcoin has proven to be the hope of the common man.
And if you must going into day trading then I will also advice that you go learn the necessary rudiments and bet yourself fully equipped with the basic trading knowledge.

this is a good advise mate but trust me in our market now? even Bitcoin cannot be a solo investments instead better to buy with other altcoins for security and other chance of earning.

[jeraldskie11]

Trading can somehow seem so complicated to newbies and it takes frequent research and calculation to be able to trade successfully as a newbie.Newbies who have not had experience of trading before needs to have a mentor,who will teach him how to trade because the business of trading is a risky one,and one must be determined and have a strong mindset before venturing into the game.
The game of trading is one that requires a strong mind because it's involves risk,it is a two way thing,either loosing or winning,but good strategy will make you win.

Trading is not for everyone and trading is not easy that's why newbie is very complicated for trading. Mostly, newbie's mindset is that trading can make them rich quicker, they're not aware of it's risk. That's why they end up of losing money until they understand that trading is not easy, need a lot of patience, and discipline. They can also learn from their mistakes by backtesting it. In order to avoid this kind of stuff, we have to get advice from successful traders, or joining a mentorship so that you will be guided in your journey. For me, joining a mentorship is not mandatory but it's necessary. You really have to invest in knowledge in trading in order to be successful, because if I only have mentor in the first place, I would not experience liquidations of my margin.

[virasog]

Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.

I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

Anyone done something similar or will it just lead me to losing my money?

I don't think this may work as sometimes the coin do not pump again to 10% if the market is down. Also, without using stoploss, you will be holding the bags of altcoins.

But I wanted to ask one question, since you have zero experience, why you want to jump in trades thinking you can make money.

Remember if you do not know how to drive a car and you start your driving on the highway on your very first day? What will be the result?
Similarly, if you jump in financial markets, you will lose your capital and nothing else.

[Sebas.tian]

Trading crypto is a good idea but you need to have the knowledge of trading before you can join as a newbie, so that you will not loose your capital at the end of the market. As a newbie, invest what you can afford to lose because crypto market is unpredictable to both buyers and sellers, which newbies need to carry out their personal research before trading at the moment. Buy coins when the price is low, which is the best time for traders who want to make a huge amount of money used to buy and hold to wait for the price to increase higher before they can sell to smile with their incomes.

[Hypnosis00]

Trading is quite too risky for newbies but we never make this the hindrance to trying and learning. Of course, it was not easy as most think about it and losses are very likely to happen. No pain, No gain - that is exactly what we need to fail and commit mistakes just to know what we needed and to learn from those mistakes. if we are afraid to try, then we never expect to learn to trade as well because the truth is that we all started from being a newbie, with no experience, and less knowledge. But if we carry courage in ourselves so becoming a successful trader is not impossible.

[Bitcoin_people]

New investors in cryptocurrency have no idea about trends.  I am also a newbie so I can't give such good knowledge. But I can say this much that to invest he must know the market well. When the market increases and when it decreases, you have to invest keeping in mind that it is possible to make a profit by investing. Investing without understanding otherwise definitely has the potential to incur huge losses and the chances of losing money are high.

[Pamadar]

Trading is quite too risky for newbies but we never make this the hindrance to trying and learning. Of course, it was not easy as most think about it and losses are very likely to happen. No pain, No gain - that is exactly what we need to fail and commit mistakes just to know what we needed and to learn from those mistakes. if we are afraid to try, then we never expect to learn to trade as well because the truth is that we all started from being a newbie, with no experience, and less knowledge. But if we carry courage in ourselves so becoming a successful trader is not impossible.

Yeah right, if you really wanted to learn, you will exceed to your limits in trying everything to succeed with your intentions
people who have this kind of mentality have a better chance in succeeding with trading.

No pain, no gain somthing that you should think about and practice, losses might be a part of this
business but you should understandthe big potential if you already master the process.

most of the time, successful traders comes from those who really losses a lot before they manage
to established themselves and become a good trader.

[nurilham]

New investors in cryptocurrency have no idea about trends.  I am also a newbie so I can't give such good knowledge. But I can say this much that to invest he must know the market well. When the market increases and when it decreases, you have to invest keeping in mind that it is possible to make a profit by investing. Investing without understanding otherwise definitely has the potential to incur huge losses and the chances of losing money are high.

Of course, each investor must have a good understanding, so they can invest properly. It is no problem if you are a newbie, it is okay as long as you want to learn deeply and seriously about crypto investment/trading. Make sure you know well about the market trend and the characteristic of the coins you buy, then you will do it properly. Anyway, don't buy at any time, choose the best time to buy. If it looks like a pump, just stop to buy. Wait and see first, just buy when the prices drop.

[TimeTeller]

Trading is quite too risky for newbies but we never make this the hindrance to trying and learning. Of course, it was not easy as most think about it and losses are very likely to happen. No pain, No gain - that is exactly what we need to fail and commit mistakes just to know what we needed and to learn from those mistakes. if we are afraid to try, then we never expect to learn to trade as well because the truth is that we all started from being a newbie, with no experience, and less knowledge. But if we carry courage in ourselves so becoming a successful trader is not impossible.

Yeah right, if you really wanted to learn, you will exceed to your limits in trying everything to succeed with your intentions
people who have this kind of mentality have a better chance in succeeding with trading.

No pain, no gain somthing that you should think about and practice, losses might be a part of this
business but you should understandthe big potential if you already master the process.

most of the time, successful traders comes from those who really losses a lot before they manage
to established themselves and become a good trader.

But if you only have small bankroll, use small amount of money while you are learning the process.
You can only learn such strategies if you will experience it on your own.
That is true, you will incur losses but should not give up as you won't see your success if you will give up early.
High likely these successful traders have been doing this activity for years before they can say to themselves that they already mastered this task.