Trading as a newbie?

[Munir575]

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?

its not a bad technique I’m sure you won’t be the first to try it whether you succeed or fail you won’t be the first either so it worth the try if thats what your instincts tell you whatever the outcome it will be an experience you will learn from and if it doesn’t suit you you will have to try another pattern. Trading is not an easy task and you should be ready for the worse especially when it comes to trading altcoins because they are not as reliable as trading Bitcoin.

[Bhig Daddy]

When many coins were moving virtually simultaneously, I performed something similar a few years ago, enabling me to buy low and sell high. But, given the number of coins now available, I believe it is challenging because it takes more time to evaluate each coin individually and does not ensure you will be able to obtain the coin you desire. And doing it that way without strong analytical abilities would only result in financial loss because you run the risk of interpreting the coins incorrectly. But if you're still interested in giving it a shot, I advise doing it for a little cash first to gauge how it goes. Never use large sums of money if you aren't willing to lose.

[karmamiu]

Been watching lots of reviews and tips about trading few years ago, and I could say that, yes, you can gain a certain amount from that, but not all the time. I remembered way back, I have a trading mentor (privately), told me that it's much better for me buy and hold rather than doing quick trades, coz it'll benefit me in the long run. So, I did and luckily, I didn't regret it. Months ago, when I was looking for some youtube videos, I stumbled upon a video by Graham Stephan talking about investments and reviews about other people's lives as a trader. He mentioned that based on studies (I forgot what study that is) stated that those who bought, and hold are more profitable than doing quick trades. I've never really took quick trades seriously but based on my experience and several people, they found it more profitable to make it as an investment, buying whenever they have spare cash rather than making it as quick cash grab. Personally, I could only say that it depends on what method best applies to you since you are also making it for the sake of having a side hustle.

[andriarto]

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?

its not a bad technique I’m sure you won’t be the first to try it whether you succeed or fail you won’t be the first either so it worth the try if thats what your instincts tell you whatever the outcome it will be an experience you will learn from and if it doesn’t suit you you will have to try another pattern. Trading is not an easy task and you should be ready for the worse especially when it comes to trading altcoins because they are not as reliable as trading Bitcoin.

for beginner traders, you really have to gain experience, which is what can make us successful. with your technique, then you have to think about if the price continues to fall, so you have to place a stop loss according to your analysis. on the other hand, be careful if you change coins that have decreased, because it is very risky, especially if it is a new coin, because extreme declines can occur in the blink of an eye, and will make us panic

[Pamadar]

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?

its not a bad technique I’m sure you won’t be the first to try it whether you succeed or fail you won’t be the first either so it worth the try if thats what your instincts tell you whatever the outcome it will be an experience you will learn from and if it doesn’t suit you you will have to try another pattern. Trading is not an easy task and you should be ready for the worse especially when it comes to trading altcoins because they are not as reliable as trading Bitcoin.

Strategy like that needs to be practiced from time to time. You are unsure that the market will increase back even the asset already falls for 15%, the chance that it will continue to fall is possible.

You need to have good a good research before taking that strategy, and like what you said, it's not the first
time that this kind of strategy is being used and if he succeeds or fails, it is not also the first time. There's always
the right way or much better to say fitted way to each trader, both new and old timer.

[naikturun]

maybe your expectation is like that but trust me is not easy like that, when you face with real market there will be nervous or something that will distract your mind.
because you never do that and let say you try it for the first time.
so yeah you will just lose money, unless if you want learn to trade and ready to lose your money to get experience.

[cydrix]

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 idea of trying to come up with ways of making money by the means of trading. Everyone started with zero experience and being observant on the market. I can't suggest the strategy you've mentioned because you can't guarantee 15% down that it will pump eventually but that's why we should take the risk and it will depend on us how we manipulate the trading strategy we have. Always Do your own research before entering for a trade because factors are very important to a coin.

[nurilham]

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.

What do you mean by 'detailed knowledge'? What the beginners need is basic knowledge about trading and they must know about crypto market. If the beginners already have enough knowledge about the basic things of trading and crypto market, they can start to buy and trade crypto coins. However, they also need to understand the coins they buy/trade. Every type of crypto coin has its own characteristic and its own level of volatility. The risk level also depends on the type of coins. If it is a top crypto coin, it will be safer. But if it is new altcoins or meme coins, it will be riskier.

[GeorgeJohn]

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.

Trading needs consistent performance so that newbie will know the scope of trading with it's fault, because even though you acquire the skill of trading without practicing will make you lose whenever you come into trading with the assurance that you know all the strategies, sometimes in trading what leads people into lost is as results of greediness and not knowing the rules and regulations of trading.

[Munir575]

You should have a solid understanding of trading first as you claimed to be a complete novice. To start with, you may get a ton of relevant information on various social media platforms where trading is nicely discussed. Without a thorough understanding of trading, you will undoubtedly experience losses. because trading involves a great deal of risk. After weighing the full circumstances, you must make a decision.
To trade you must be ready to in any loss encountered on the way and use it as an experience for the future.

[arthurelewis]

Trading strategies can vary widely depending on the trader's goals, time horizon, risk tolerance, and market conditions. Some traders may focus on short-term, high-frequency Crypto-Trading strategies, while others may take a longer-term, more fundamental approach. Regardless of the specific strategy, successful traders must have a deep understanding of market dynamics, including technical and fundamental analysis, market psychology, and risk management.

[Dzwaafu11]

I'm at a loss for ideas on how to get started trading; you'll need to do additional research and post inquiries in forums.

Since understanding of bitcoin is all you need to get started, knowledge of it is still necessary if you're interested in trading.
To avoid losing money when you begin trading, you must have a thorough understanding of how the market functions, including when it will pump and when it will dump.
Like you, I'm a newbie who is still picking up trading and bitcoin skills.
Yet urging you to conduct additional research on what you're going to do

[Alisha-k]

Have you thought and probably planned a strategy you'll carry out if you're not on the profitable side??

Of course you know they're two sides to trading, we either lose or make profit so while planning for the best, also prepare for the worst..

[GreenStox]

I think it's not as easy as the scenario you say, because not everything is always according to your predictions, if it were that easy everyone should be rich, but you can see that not everything is that easy.
yes that will lead you to losing your moeny, until you have experience.

[juhobtc]

Trading needs consistent performance so that newbie will know the scope of trading with it's fault, because even though you acquire the skill of trading without practicing will make you lose whenever you come into trading with the assurance that you know all the strategies, sometimes in trading what leads people into lost is as results of greediness and not knowing the rules and regulations of trading.

The ability to sell on time also decides a lot, I already understood this from my own experience, there is no need to be greedy and expect that the price will constantly rise, the market moves and growth is replaced by a fall, this is a normal market movement.

[Digital_Lord]

The percentage which you mention for buying and selling is not understandable because sometimes you buy a coins and think that it will pump during Bull season but actually it dumps and all your money become zero so its not important that when you buy at lower price you will definitely get huge profit but it totally depends on the type of coin which you pick for you future success. You have to keep concentration on the price of some trustworthy coins that have surety that they will pump whenever the market become pump so then you can have greater possibility of earning more revenue. Lower price is not just a thing which can give you profit but instead of this there are more others rules which you should have to follow for profitable fortune which you should learn first.

[rhodelmabanal]

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?

everyone is thinking how to earn in trading and every strategy sound simple but its not, if we can earn with that simple strategy then we are lucky, buying and selling is good strategy but the problem is we don't know when the particular coin is going to up or continue to down after we buy it, just always remember that no one will loss if you don't sell at loss.

[Obari]

I guess to should be ready to do the work involved with such coins as well as be ready to face the huge risk associated with such businesses as well as the project you're about embarking on is know as pump and dump project and there are already more smart people in that field so you ought to be smarter and faster and don't let so much greed catch up with you in this field.
I barely advice people to get into shitcoins  except they know what they're doing and it seems you're very much knew in the crypto industry so I will advice that you buy a more stable coins like Bitcoin and just hold for a longer time rather than wanting to toy with your emotions.

[Negotiation]

I guess to should be ready to do the work involved with such coins as well as be ready to face the huge risk associated with such businesses as well as the project you're about embarking on is know as pump and dump project and there are already more smart people in that field so you ought to be smarter and faster and don't let so much greed catch up with you in this field.
I barely advice people to get into shitcoins  except they know what they're doing and it seems you're very much knew in the crypto industry so I will advice that you buy a more stable coins like Bitcoin and just hold for a longer time rather than wanting to toy with your emotions.

I also agree with you, that newbies in trading should take care of many things temporarily before investing, so that they are aware of their losses and can survive the losses.Although in my opinion newbies should never invest in trading in the first stage, because newbies often make wrong decisions, newbies often conduct trades based on emotions which lead to losses later on.My advice is that beginners should give more importance to study, than trading first so that they get a good idea about the whole trade and work on it.

[nur rochid]

I guess to should be ready to do the work involved with such coins as well as be ready to face the huge risk associated with such businesses as well as the project you're about embarking on is know as pump and dump project and there are already more smart people in that field so you ought to be smarter and faster and don't let so much greed catch up with you in this field.
I barely advice people to get into shitcoins  except they know what they're doing and it seems you're very much knew in the crypto industry so I will advice that you buy a more stable coins like Bitcoin and just hold for a longer time rather than wanting to toy with your emotions.

I also agree with you, that newbies in trading should take care of many things temporarily before investing, so that they are aware of their losses and can survive the losses.Although in my opinion newbies should never invest in trading in the first stage, because newbies often make wrong decisions, newbies often conduct trades based on emotions which lead to losses later on.My advice is that beginners should give more importance to study, than trading first so that they get a good idea about the whole trade and work on it.

it is common for novice traders to prioritize feelings when trading. until in the end they feel frustrated. for those who persist, they can improve from previous mistakes, so that gradually their trading style will be established by itself. it is not as easy as imagined, but many traders are successful, so they can live from trading. therefore it's never too late to start and you should still be able to enjoy the process