Trading as a newbie?

[bitterguy28]

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

consider this with option mate ,trust me it is not that easy.

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.

pump and dump? mate this is a hard choice , why not buy and keep? I mean for at least even a year of waiting?
there is no instant here.

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

I tried this couple of times, but regret why I do that instead of buying and holding.

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.

so what have you bring to answer the whole thread than just the title?what is in day trading that he must learn then? Risk Management? using Bot for stop loss? before bringing post in a question better to have your own advise for them to learn and at least consider following .
for newbies , best to use free tools first before depositing and risk your own money.many exchange now that giving this opportunity to learn and understand trading.

all of what you said is important in my own views for trading .

[Rigon]

But if you only have small bankroll, use small amount of money while you are learning the process.

Yes I agree with your opinion. Whenever newbies come to a trading platform I think they should come to trading with a small balance. Newbies are most likely to lose their balance while learning to trade. That's why they should come to trading with a small amount of balance while learning.

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.

Of course you will face losses in trading. You can never give up on seeing this loss. Remember that the market fluctuates all the time and you must take risks and hold on to those trades. Only then can success be found in the trading platform.

[MusaPk]

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.

There are ways to learn trading even if you have few or little money like doing 'Paper Trading' to avoid risking your money. In trading you earn big and also you lose big, so one must be ready for loses also. Every successful trader today has faced loses in his journey. The best learning is when you start trading with your own money and make decision on your own. There is no master guide in the market that guides you how to become a successful trader. This is something we have to learn on our own.

[martyns]

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.

There are ways to learn trading even if you have few or little money like doing 'Paper Trading' to avoid risking your money. In trading you earn big and also you lose big, so one must be ready for loses also. Every successful trader today has faced loses in his journey. The best learning is when you start trading with your own money and make decision on your own. There is no master guide in the market that guides you how to become a successful trader. This is something we have to learn on our own.

Everyone who is now an experienced trader today started with small money,and they never knew they were going to be big someday,but through constant trading,they have been able to get to the height they are now.Trading is not something you rush into,because it is a very risky game,a game that has to deal with the heart and emotions.Every trader who might claim to have succeeded in trading today,might have passed through so many difficulties,which if they don't tell you you won't. Know,but through developing of new strategies and tactics,one will get through it,and certainly become successful.

[Reatim]

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.

so what have you bring to answer the whole thread than just the title?what is in day trading that he must learn then? Risk Management? using Bot for stop loss? before bringing post in a question better to have your own advise for them to learn and at least consider following .


for newbies , best to use free tools first before depositing and risk your own money. many exchange now that giving this opportunity to learn and understand trading.

New investors in cryptocurrency have no idea about trends.  I am also a newbie so I can't give such good knowledge.

wrong , before you called yourself as investor then you must ready and knowledgeable about the market because you are only feeding the whales if that is your attitude.

[Xampeuu]

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.

There are ways to learn trading even if you have few or little money like doing 'Paper Trading' to avoid risking your money. In trading you earn big and also you lose big, so one must be ready for loses also. Every successful trader today has faced loses in his journey. The best learning is when you start trading with your own money and make decision on your own. There is no master guide in the market that guides you how to become a successful trader. This is something we have to learn on our own.

Everyone who is now an experienced trader today started with small money,and they never knew they were going to be big someday,but through constant trading,they have been able to get to the height they are now.Trading is not something you rush into,because it is a very risky game,a game that has to deal with the heart and emotions.Every trader who might claim to have succeeded in trading today,might have passed through so many difficulties,which if they don't tell you you won't. Know,but through developing of new strategies and tactics,one will get through it,and certainly become successful.

by compounding, trading with small capital can become big because of patience and thoroughness. most beginners can't wait to get big trading results, so they trade emotionally, without realistic thinking about the market, greed is still firmly attached to them, so they must be released slowly. therefore, as a beginner trader, you must be able to enjoy every process in making transactions and continue to correct every action so that it can be evaluated

[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?

yes and I tolerate the idea because of my willingness to risk and earn mate and also I knew that volatility keeps affecting my funds value so I am already aware of those in which won't make me sell in dump.



buying low selling high is indeed the best strategy but the only thing that matter is how long we can keep and how much we can afford to sell.

[death69]

~

by compounding, trading with small capital can become big because of patience and thoroughness. most beginners can't wait to get big trading results, so they trade emotionally, without realistic thinking about the market, greed is still firmly attached to them, so they must be released slowly. therefore, as a beginner trader, you must be able to enjoy every process in making transactions and continue to correct every action so that it can be evaluated

As a pro trader, I totally agrees that compounding with smal capital is a dope approach to build a solid foundation for a successful trading career. Impatience and emotions are the two main culprit that cause most beginner to fail. Trading is a long-term game that require discipline, patience, and the ability to control emotion. I always advise new traders to start smal and trade with a strategy that suits their risk apetite. Over time, they can improve their skills and increase their capital through consistant profit. By learning to enjoy the trading process, one can avoid getting caught up in the emotional rollercoaster of wins and loses. Its crucial to continuously evaluate and learn from each trade to level up their trading game. I believe that with time, consistancy, and patience, anyone can become a succesful trader with smal capital, and that's a fact!

[Pamadar]

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.

There are ways to learn trading even if you have few or little money like doing 'Paper Trading' to avoid risking your money. In trading you earn big and also you lose big, so one must be ready for loses also. Every successful trader today has faced loses in his journey. The best learning is when you start trading with your own money and make decision on your own. There is no master guide in the market that guides you how to become a successful trader. This is something we have to learn on our own.

Everyone who is now an experienced trader today started with small money,and they never knew they were going to be big someday,but through constant trading,they have been able to get to the height they are now.Trading is not something you rush into,because it is a very risky game,a game that has to deal with the heart and emotions.Every trader who might claim to have succeeded in trading today,might have passed through so many difficulties,which if they don't tell you you won't. Know,but through developing of new strategies and tactics,one will get through it,and certainly become successful.

by compounding, trading with small capital can become big because of patience and thoroughness. most beginners can't wait to get big trading results, so they trade emotionally, without realistic thinking about the market, greed is still firmly attached to them, so they must be released slowly. therefore, as a beginner trader, you must be able to enjoy every process in making transactions and continue to correct every action so that it can be evaluated

I like that idea. You should be willing to adjust to how you will be able to adopt the process, in every trading that you participate
it is important to learn from time to time.

Don't think about the quick process. It will risk your investment, better to undergo with everything
that you needed to learn and it will allow you to excel when you already have the deeper idea
with how the business works.

[MidnightWolf]

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.

[whyrqa-1]

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.

To work with bots, you probably need to have a strong understanding of trading.  Do I need to know how to program to set up a bot?

[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.

To work with bots, you probably need to have a strong understanding of trading.  Do I need to know how to program to set up a bot?

as far as I know, most bots are created using specific tools.  If the trader is experienced, he will deal with this very quickly.  and for beginners special constructor.

[wahyuagung26]

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

I don't think this kind of work will always be profitable, and it depends on the quality of the coin you choose as well as the promise of the developer team of a project you will choose, indeed this is a good job to serve as a sideline, but I think this has risks, between these advantages and disadvantages there is not much difference, I think you have to choose the right choice to avoid losses and lose your money, which we hope not to lose from everything you use in this work.

[Inwestour]

As a pro trader, I totally agrees that compounding with smal capital is a dope approach to build a solid foundation for a successful trading career. Impatience and emotions are the two main culprit that cause most beginner to fail. Trading is a long-term game that require discipline, patience, and the ability to control emotion. I always advise new traders to start smal and trade with a strategy that suits their risk apetite. Over time, they can improve their skills and increase their capital through consistant profit. By learning to enjoy the trading process, one can avoid getting caught up in the emotional rollercoaster of wins and loses. Its crucial to continuously evaluate and learn from each trade to level up their trading game. I believe that with time, consistancy, and patience, anyone can become a succesful trader with smal capital, and that's a fact!

Are you saying that trading can bring a stable income? Do you manage to make a profit every week, or every month, or does it work in some other way?

I can say that I am a beginner in trading, I am just taking my first steps, but I already see that it will not be easy to get a stable profit in trading. You can buy a coin and it will be in a flat for a long time, or its price may fall and the deal will turn out to be long-term and we will receive profit only in a few months, or even longer.

I agree that discipline will help you get better results in trading, it kind of intersects with investing, but if the trades are long-term, they will not be much different from investing, right?

[jossiel]

To work with bots, you probably need to have a strong understanding of trading.  Do I need to know how to program to set up a bot?

as far as I know, most bots are created using specific tools.  If the trader is experienced, he will deal with this very quickly.  and for beginners special constructor.

Trading bots are specified for their usage. But it doesn't mean you've got the best advantage that you can get from it.

It's okay for a newbie to use trading bots and you guys will learn it along your ways as you experience losing and winning with your trades. But it's always best to go with the traditional way of learning in trading.

As first, it may be too hard but it's true that once you gain experience, whether you're with a bot or none, you'll be doing it easily but doesn't mean it's always profitable.

[nurilham]

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!

[AnonBitCoiner]

As newbies faces more risky conditions so I think that how a person will know that is 15 percent low in my opinion I just think that there is no guarantee that will the choose coin goes 10 percent or will down. So always make decision after sharing and getting your ideas through conversation,  through participation in different trading groups and also through reading information.

You should always choose a coin with strong base so it does not matter that how much it goes up because if it increase little you will have definitely a good results.

 Sometimes it also happens that person just see the down price but does not think properly and estimated that now its low so it will boost up in future but unfortunately it does not happen because the market is unpredictable no one knows that whether the down Coin will elevated or become more in dip.

[Ziskinberg]

You should always choose a coin with strong base so it does not matter that how much it goes up because if it increase little you will have definitely a good results.
 

Choosing them is just one factor but the most important is how to manage our trade so well. Because it was useless to have them ( potential coins) if we are too emotional and if we don't have the knowledge and skill to work with it. It is necessary to note that trading is not an easy job for newbies and therefore, they need to take it seriously and give focus working on it otherwise, they will just fail and lose. A reason why newbies must endure their time on learning rather than aiming too high.

[Pamadar]

You should always choose a coin with strong base so it does not matter that how much it goes up because if it increase little you will have definitely a good results.
 

Choosing them is just one factor but the most important is how to manage our trade so well. Because it was useless to have them ( potential coins) if we are too emotional and if we don't have the knowledge and skill to work with it. It is necessary to note that trading is not an easy job for newbies and therefore, they need to take it seriously and give focus working on it otherwise, they will just fail and lose. A reason why newbies must endure their time on learning rather than aiming too high.

Taking it seriously will add up knowledge in every outcome that they've got from their trading participations. Looking at the point that trading is a business, and it involves hard earned money that we will going to use.

It might take time, but if a trader is really aiming to learn to find all the best practices will be his
goal to achieve to help him to succeed in this business.

[LUCKMCFLY]

As newbies faces more risky conditions so I think that how a person will know that is 15 percent low in my opinion I just think that there is no guarantee that will the choose coin goes 10 percent or will down. So always make decision after sharing and getting your ideas through conversation,  through participation in different trading groups and also through reading information.

You should always choose a coin with strong base so it does not matter that how much it goes up because if it increase little you will have definitely a good results.

 Sometimes it also happens that person just see the down price but does not think properly and estimated that now its low so it will boost up in future but unfortunately it does not happen because the market is unpredictable no one knows that whether the down Coin will elevated or become more in dip.

Personally, trading as a newbie with no knowledge some do, but I wouldn't do it in Crypto due to the high volatility. I think I would go to a market like forex, because they have a consolidated volume, since as I have said on a few occasions, in an unconsolidated volume it is almost like doing or going to a casino and playing, because it is like guessing, in trading you don't you can leave things to chance, and in trading you can't leave everything to chance, because it would be irresponsible, trading is more focused on people who know what to do, it's a bit complicated, sometimes you can have the best analysis of everything, but it can be quickly invalidated on grounds that you had not considered.