Trading as a newbie?

[JamesDaniel90]

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

Don't trade, you will lose your fund.

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?

Looks like it can give you profit but have you ever checked that altcoins in 2022 lost 90% to 98% and some more than 98% of their all time highs. If you are not correct with your orders, your entries are wrong and you don't cut loss, you will lose a lot. From -15% to -98% is not small difference.

Trading won't help you rich but it will help exchanges richer. You give them income from your trading fees.

Currently no fees on Coinbase - I have 1 month no fees using Coinbase One.

Am also up 36% already on one trade, I get it is a gamble but it is money I can afford to lose I am only starting with $50 and be happy if I can turn that into $250 so I can then put it all into Bitcoin.

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[CapGelatik]

Thats a good analogy already. Buying when its down but you need to take a broader details like if its down, how long its been down, maybe its still in the phase of going down. Thats where you learn indicators where youll find out whether that project could go bounce and reversal at particular time based on past activity. Theres too much to learn but you understand a good way on how to start and thats great.

Right and that's why I think in trading we need to have both skills and knowledge,
as traders we need to keep learning and that is the important part,
To become a successful trader requires sacrifice as well

[tvplus006]

...If it gets to a point where we experience a crash and I buy in at a price we don't see again for another month or so then I will just hold.

Thus, because of your mistake, you will move from traders to investors) Bear market is not the best period to trade if you are a beginner. Focus on learning and be sure to learn the rules for applying stop loss - this will really help you save your deposit in the future.

[irhact]

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.

If you don't understand trading don't involve yourself until you have acquired the rightful knowledge needed to succeed in it. What you just described are what most newbie fantasize about during but the market doesn't always favor them and just for you to understand how things work. If a coins drops by 50% for you to make back that 50% you'll need that coin to recover by a 100% and not that 50% that it lost earlier.

Also we're still n a bear market and coins that dump will likely dump further or take a very long time to recover. This isn't the bull market that anything seems to pump, what happens this time of the market is everything dumps including both strong projects.

[ShowOff]

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.

Stay away from pump and dump games, you will regret it later.

I agree more if you start investing instead of taking advantage of the pump and dump situation on that altcoin. You should probably ignore it as much as possible because in most cases the trader will lose money because of it. But if you want to trade, then do your analysis on some good altcoin even if only for small profits.

[TheUltraElite]

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

The best performer today might just be a pumped coin which is go back down tomorrow never to go back up again. How exactly do you plan to know this from beforehand?

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.

You can get the result on your own without spending a satoshi. Try dummy trading with a virtual capital and attempt to do this honestly on paper. See how much you are making right or wrong and see what profits you are making over a time period. That way you can understand better than any one posting here about possible income.

If I say here that buying shitcoins is a waste, you would not believe me, but do this and see for yourself and you will get the fact in your head.

[Eureka_07]

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?

Be careful. If the market is just like that, you should see that there are a lot of winning people. That's easy to say, but that scenario is most of the time, rare to happen. Be picky, if you will pursue that kind of trade be sure that the project that you invest is the coin that you trust (not by the trend and baseless prediction).

[Nrcewker]

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?

How is this logical to you mate ? I mean I admit that you are newbie, but the thing you have mentioned here is done by foolish people only. I don’t want to be rude, but that’s truth my friend. I mean how do you know that the coin that went down by 15% will rise again? That’s just guessing and it’s really bad. Trading is nothing but just calculations and proper assumptions. If you master in both, then definitely you will reduce the risk of losses. I would advise you to at first watch the market, do proper research of a coin and when you feel confident, invest. Also keep a note that, at first invest the amount that you can afford to lose.

[teosanru]

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?

Day trading? Don't even think of it. It's a full time business if you'll start in part time you'll mostly end up checking the market all the time. Better to give positional trading a try. You can hold positions for long periods by laddering them in a pattern. The theory of buying a coin at 15% down and selling it at pump sounds great but is practically impossible. You will have cases where coins will go further 15% down after going 15% down already. So don't burn your hard earned money.

[Oneandpure]

Can't guarantee with several altcoin have going dump under 15% will return back to higher price and potential pump above 10%, this risk management. Seems you was wrong way when trading at some altcoin actually your expectation when some coin have going dump under 15% and get potential back higher price later.

Change your mindset about altcoin can't going up drastically after dropping price under 15% and you can loss opportunity earn profit when using your feeling about coin have dump get chance later for breaking out to higher price. Learn step by step about right decision when trading at some altcoin, not always potential after dump and back pump later.

[inthelongrun]

For somebody with no trading experience, it is better to study first the basics of trading. And then you study the movements of some selected coins like bitcoin. You better stay away from jumping to different coins because charts are not enough to determine the movements of their prices. Look at the history of the top 5 coins in Coingecko and check their charts. You will notice that they can drop deeper than 15%. Bitcoin alone who's considered the most valuable and safest among cryptocurrencies dipped from $60k down to $15k late last year.

It might feel easy to think about earning thru trading. So the best way is to experience it for real. I am not a fan of demo trading accounts so put in $100 and do actual trades while learning the basics.

[KingsDen]

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?

The method you are talking about is a layman method especially for newbies who normally tries out the method.
I have tested that method before and I have known how it works, it will likely lead to losses especially now that the market is in the red condition.
The method works fairly when the market is in bull run. This will make it possible for every coin that comes down to rise again. When I did it I did it for selected coins and not for all the coins.
My advice is as a newbie don't try it just make out time and learn before you earn

[el kaka22]

The best way to start trading as a newbie is to learn how to read indicators, it will not make you rich over night but it would definitely get you the basic understanding of what the market is and how you could read the situation we are in. Like for example, many people think we are in a bad situation right now, and yet anyone who knows how to read the market would tell you that it's on the verge of going up and doing something good, we just don't know when.

Until it happens, people who are afraid would look right, but when the price starts to go up, people who knew this would say they expected it. That's how you should start, by being "in the know" and studying the market.

[stomachgrowls]

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?

Could be that possible since this is trading on the first place.The main issue or challenge you would be facing up with this kind of behavior of trades is on how you would be able to determine on which coin will be moving

out with those kind of percentages? It would really be that hard for you to point out.If ever you would be sticking with main coins then those percentages on day matter cant be that possible specially now
that the price is really moving that sideways which its really hard to make out some movements or decisions.

Well, this is the hardest part of doing trades on which it might look on being simple but when you are on the middle of the situation then its something you cant
done it easily.

[Rengga Jati]

It will depend on what coin you are referring to. because not all coins that go down are able to go up again even though we have waited a long time. Meanwhile, we usually carry out trading activities for short term periods, especially daily. And this doesn't have to be a benchmark because coin price movements will continue. If you decide to try trading, then you must continue to focus on the market, be able to analyze the market and its movements, and be able to read market indicators. By analyzing and predicting it, it is not certain that we can always get profits. In this case, actually, you need to prepare yourself optimally before starting trading. At least you need to learn and understand about analysis techniques and also Fundamental analysis to help you understand market movements. indeed TA and FA do not make you will always take profits, but at least this will help a little to know how possible.

And one more thing, if you are newbies, don't ever be tempted to do Future Trading because this is really high risk and has the potential to make you lose.

[shinratensei_]

trading is as simple as buying low selling high but the practical implementation of that is really difficult, if you want to know the real condition of trading you should use the demo features in many exchanges, that way you could get some grasp of how things works in general, moreover, be ready to use investments that you could afford to lose, the trading isn't always friendly to individuals, instead it's always the big whales that got the most out of it and make some individuals traders lose in the trading, therefore you should know that you're always at the worst odd of making profit if you have relatively low money.

[xSkylarx]

Your strategy is very simple and easy to follow, but the problem is, how would you choose which coin to buy? How can you make sure that it will pump and not go to its grave? Though it is working, it is very risky on that part of choosing the right coin. I don't know if you already know trading, but try to learn it first since your strategy is like "buy low, sell high," and you are just on the tip of an iceberg. 

[palle11]

I have preferred to use low leverage, averaging at times, leave trade opened for days. Trades I was losing before do come to be profit later after many days of opening position because I use small amount, low leverage and leaving position for long time if no profit for short time.

Is not all the time that roll up trades will turn into profit. Sometimes a long trade like that keep losing straight and your capital keep burning down. You can not rely on such trade to come back from losses therefore using stop loss comes in here. If you want to extend your time in the market when you have used low leverage then you need to use stop loss incase your expectation is not met.

[Mpamaegbu]

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

Trading is a highly technical terrain. Don't let anybody deceive you into thinking it's an all comers affair. It's not. This isn't to scare you. It's just to prep you for the murky waters ahead. I don't want to suger coat it and tell you otherwise because I write from first hand experience. Be it FX, cryptos or Binary, they're all good to make you comfortable in life once you've a good handle on them. Put in the works and master their basic set skills first before thinking of profiting from them. Don't begin with profit making in mind; that will ruin you. While aiming for indicators, stick more to leading indicators – Support & Resistance, Pivot Points, Trendlines. They have better direction than others I didn't mention here which are lagging.

[Rockstarguy]

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.

Don't have the mindset of making money in trading when you don't have any idea about trading.  What you should consider first is to learn,  have knowledge about it first. Trading does not make one to be rich but can help one to financial stable expecially when their is a source of income as a beginner.  Don't think trading is something you can just start and make a lot of money . You have to give your time and learn trading,  if you learn and understand you gain good profits in trading.