Trading as a newbie?

[Renampun]

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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?

actually, this trick is really good to use if you have a good analysis technique but for a newbie trader, this trick is really not recommended. you will just waste time and money when you fail to make a profit because you are always moving tokens that experience -15%. if you pay attention to the market, the cryptocurrency that experiences very high volatility is only bitcoin because it wins, many people focus on trading there, but for crypto assets that are -10% or +10% in 24 hours, it must be a token that doesn't have good fundamentals.

I am not a financial adviser or have extensive experience in trading but I recommend only trading in the top 20 cryptocurrencies, because it is safer and has a good reputation, and if you want to become a day trader then your capital must be large (to cover your losses if you fail to make a profit on an asset).

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[Lida93]

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?

Does trading really works actually this way as easily spoken? No I doubt it does! I jumped into a trade over three weeks ago based on the idea that the coin (GFT) has fallen to a reasonable level that I felt I can make a good profit from within at most three days time as it will pump high but as we speak I have spent three weeks and days more on that trade as am currently making a loss when I was hoping to make profit within a few days because the coin was down around a certain percent.
Why am I saying this? Trading is not so easy in the practical of it as it is with mouth talk or thoughts. There's always a higher chance that it will go against your prediction and expectations. The real key to trading as I have learned all this while is patience, it is a virtue that many traders lack especially when a trade is not going in their expected direction they rush to cut at loss.

[GeorgeJohn]

Does trading really works actually this way as easily spoken? No I doubt it does! I jumped into a trade over three weeks ago based on the idea that the coin (GFT) has fallen to a reasonable level that I felt I can make a good profit from within at most three days time as it will pump high but as we speak I have spent three weeks and days more on that trade as am currently making a loss when I was hoping to make profit within a few days because the coin was down around a certain percent.

Trading have tactics and that's a good investors always observe the market very well before venturing into trading investment, so when trading try to read the market chart and know if the market will rise within some interval or the market will go against of rising before you put in your funds, theirs what i want you to understand that, when you have the objectives of making profit in trading you will definitely down on wrong side of investment, monitor the market, scrutinized the market before opening a trade.

[PancherSh]

I looked everywhere for information on how to learn how to trade correctly and I was told everywhere that the key to success is stored primarily in the knowledge of technical and fundamental analysis.  It is believed that a computer is smarter than a person.  To what extent do you think the opportunity will be able to realize the idea of ​​​​generating income with the help of the program and controlling it at its own discretion?

in my opinion, it is still better to have good knowledge in trading and learn how to do technical analysis first of all, because if you decide to use a trading bot, then without this knowledge you will not be able to check whether the bot is working properly or not.

[Bushdark]

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?

If you think that you can trade as a newbie and make Money from the cryptocurrency market then you must be joking. Don't waste your money and strength on thinking that you are going to make huge momey from trading. Even though are good in trading and had been doing that for long are still finding it difficult to make consistent profits from the market.

You don't have to follow the shortcut rather you can follow the normal path so you have learn something from trading that will help you in a long way. Do not think you can learn everything in a few weeks and start making money. You will need to learn so many things for you to start making money if at all.

[Nheer]

Trading altcoins is much riskier than trading bitcoin because we've seen many coins pump so hard and then dump, finding it difficult to rise again, and some even end up as dead projects. There are gains and losses as well, but you know this is cryptocurrency and you can never predict how the market will turn out. To me, buying altcoins while they are down and waiting for them to rise so you can sell seems like a waste of time and money. Instead, I suggest you trade bitcoin.

[Marvell1]

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?

If you think that you can trade as a newbie and make Money from the cryptocurrency market then you must be joking. Don't waste your money and strength on thinking that you are going to make huge momey from trading. Even though are good in trading and had been doing that for long are still finding it difficult to make consistent profits from the market.

You don't have to follow the shortcut rather you can follow the normal path so you have learn something from trading that will help you in a long way. Do not think you can learn everything in a few weeks and start making money. You will need to learn so many things for you to start making money if at all.

Exactly. As a newbie, you can start trading but don't be in a hurry to make an instant profit or simply buy low and sell high, and we will be profitable. According to what I have experienced in the trading market, I can say that to make a profit from trading, it takes you at least 1 year, 1.5 years to learn and accept losses to have can gain lessons as well as experience. As a beginner in trading, accepting losses is the first thing we should do.

[PancherSh]

I think that for a beginner, there should be a mentor who will help you gain experience in trading.  Or you can use a good trading bot that will allow you to make the right decisions.  I started using Ets bots, but I lost a little depa while I was figuring out how to set it up, but then, as I figured it out, everything was fine, though I had to spend 4 days.

Having a mentor is good but it is not a must. Not every experienced trader started their trading with a mentor, some can succeed by learning themselves. I myself never have had a mentor, I learned it by self-taught. There are many sources that we can learn trading, both articles and youtube videos.

Bot trading is optional, I never used it. The best way is to use our own skills to determine everything in trading. Don't depend on the bots!

I looked everywhere for information on how to learn how to trade correctly and I was told everywhere that the key to success is stored primarily in the knowledge of technical and fundamental analysis.  It is believed that a computer is smarter than a person.  To what extent do you think the opportunity will be able to realize the idea of ​​​​generating income with the help of the program and controlling it at its own discretion?

certainly this is a complex software in which there are ready-made solutions and many bots can be customized to fit your needs.  And you can also create a robot according to your strategy.

[Bestdss]

If I am to advise any newbie that has interest in trading as a side or full time participation. Firstly, you should be able to use the amount of money you are able to loose, even though no money is too little to loose.
Secondly, always invest in solid projects with high market cap because no matter what happens, the project will still be available in the market unlike low market cap gems that will pack up when the market goes south.
Thirdly, don't buy any project because they lost - 15% or - 25%, some might never recover and send back to the village 😂  use Luna and FTX as an example here.

[@sriyan]

You can apply that kind of strategy only for the bull markets. How do you know exactly if this coin will be pumped or not? This is called gambling. because you don't have any plan. If you are a newbie to trading, my suggestion is to create a portfolio and plan better risk-reward management. The main thing in trading is how you protect your capital and how you minimize the losses.

[Tigerw]

certainly this is a complex software in which there are ready-made solutions and many bots can be customized to fit your needs.  And you can also create a robot according to your strategy.

It is important to know how software support works.  Do algorithms fail?

[PancherSh]

certainly this is a complex software in which there are ready-made solutions and many bots can be customized to fit your needs.  And you can also create a robot according to your strategy.

It is important to know how software support works.  Do algorithms fail?

if something goes wrong, the bot itself stops and a notification comes

[Tigerw]

if something goes wrong, the bot itself stops and a notification comes

what knowledge do I need to have to work with a bot and Do I need to be able to program to set up a bot?  

[PancherSh]

if something goes wrong, the bot itself stops and a notification comes

what knowledge do I need to have to work with a bot and Do I need to be able to program to set up a bot?  

no, it is not necessary, the software is designed to provide a finished product to users.  bots are assembled in the constructor

[Bitcoin_people]

If you are a new investor then it is definitely risky if you are trending. But the market never stops it will rise and fall. If you have invested in Bitcoin then you have nothing to be disappointed. Wait patiently no matter how bad the situation is. Of course you don't have to face losses by investing in Bitcoin.

[Digital_Lord]

The cryptocurrency market is very hard to understand, you have to pick an accurate coin which has a better history and also a recorded success which is offers to the holders. If you have no expertise then focus on your experience then it will not matter that how much money you loss, always get experience from your defeat and minimum cost should be invested not large sum as you are newbies and you have almost no experience about it. Trading business is not easy and I think you have to spend certain months to understand about it because it cannot give you same results always as the alterations in price is the key feature of trading.

[LastKiss]

The cryptocurrency market is very hard to understand, you have to pick an accurate coin which has a better history and also a recorded success which is offers to the holders. If you have no expertise then focus on your experience then it will not matter that how much money you loss, always get experience from your defeat and minimum cost should be invested not large sum as you are newbies and you have almost no experience about it. Trading business is not easy and I think you have to spend certain months to understand about it because it cannot give you same results always as the alterations in price is the key feature of trading.

Yeah, even traders who had tons of experience like 2 years, 3 years, etc. not guarantee the success of their trading. Even a newbie can win a lot just from his/her luck, It's better to try a trading simulator or trading demo to know how much our knowledge about trading before we try the real one.

[GiftedMAN]

Does trading really works actually this way as easily spoken? No I doubt it does! I jumped into a trade over three weeks ago based on the idea that the coin (GFT) has fallen to a reasonable level that I felt I can make a good profit from within at most three days time as it will pump high but as we speak I have spent three weeks and days more on that trade as am currently making a loss when I was hoping to make profit within a few days because the coin was down around a certain percent.

Trading have tactics and that's a good investors always observe the market very well before venturing into trading investment, so when trading try to read the market chart and know if the market will rise within some interval or the market will go against of rising before you put in your funds, theirs what i want you to understand that, when you have the objectives of making profit in trading you will definitely down on wrong side of investment, monitor the market, scrutinized the market before opening a trade.

The art of trading is to learn the fundamental things that are necessary for one to understand the market. It is very important for us to learn the basics topics in trading some that we can always be prepared to analyze the market without fears. One if the mistakes many of us do make especially for newbies is learning the art of trading without getting the full requirements that will enable us to be fit to trade the market without any signal from other traders. Trading needs understanding about the market if we want to earn bug from the market.

[bitcoin_network]

The cryptocurrency market is very hard to understand, you have to pick an accurate coin which has a better history and also a recorded success which is offers to the holders. If you have no expertise then focus on your experience then it will not matter that how much money you loss, always get experience from your defeat and minimum cost should be invested not large sum as you are newbies and you have almost no experience about it. Trading business is not easy and I think you have to spend certain months to understand about it because it cannot give you same results always as the alterations in price is the key feature of trading.

Trading in the cryptocurrency market requires detailed knowledge of the trade.First of all, everyone should learn the basics of trading because it is seen that many times many people face losses by buying the wrong coins.But those who want to buy and trade any coin for a long time must choose the right coin.The market should be scrutinized to buy the right one.

[Pamadar]

The cryptocurrency market is very hard to understand, you have to pick an accurate coin which has a better history and also a recorded success which is offers to the holders. If you have no expertise then focus on your experience then it will not matter that how much money you loss, always get experience from your defeat and minimum cost should be invested not large sum as you are newbies and you have almost no experience about it. Trading business is not easy and I think you have to spend certain months to understand about it because it cannot give you same results always as the alterations in price is the key feature of trading.

Yeah, even traders who had tons of experience like 2 years, 3 years, etc. not guarantee the success of their trading. Even a newbie can win a lot just from his/her luck, It's better to try a trading simulator or trading demo to know how much our knowledge about trading before we try the real one.

That's for sure, not even experienced traders won't experience loss, there's still chances that anticipation will not come into reality as fluctuation will ruin your position.

Better to keep pushing your way in learning the process and if you already getting more winning position than
losing one, the chance to progress is very high. More on self assessment and how will you reflect everything
with the way to execute your trades.