newbie with newbie questions

[Tokrianan]

Yeah, exchanges plays vital role in trader's success particularly ensuring healthy liquidity for better trading experience.
BTW is that your current team or are you joining the team?

No not mine, but I'm considering entering as a team. I found out the chances and rewards are higher entering as a team, i could also secure more as the team captain

[KingsDen]

By Ruttoshi  Newbies say No to trading

Newbies are always attracted to making quick profits and that is why they always go into day trading even when they do not know how to trade. It is not bad to trade and I do not also support that newbies should totally forget about trading. They should first learn before trading in order not to lose money. This is a very good time to buy. Anyone who buys now can make as much profit during the bull run as a day trader. Whatever you do, make sure you are not losing money unnecessarily.

[Jascrypt]

https://www.talkimg.com/images/2023/07/06/Zwehz.png

By Ruttoshi  Newbies say No to trading

Newbies are always attracted to making quick profits and that is why they always go into day trading even when they do not know how to trade. It is not bad to trade and I do not also support that newbies should totally forget about trading. They should first learn before trading in order not to lose money. This is a very good time to buy. Anyone who buys now can make as much profit during the bull run as a day trader. Whatever you do, make sure you are not losing money unnecessarily.

I'm also a newbie and tbh I appreciate your stand on trading cos rusty skill can bring about huge lose. I have also scan through this thread with various platforms suggested but I think the  Bitget demo trading competition seem appealing and an opportunity to test one's trading skills.

What do you think?

[Jody.Drummer]

By Ruttoshi  Newbies say No to trading

Newbies are always attracted to making quick profits and that is why they always go into day trading even when they do not know how to trade. It is not bad to trade and I do not also support that newbies should totally forget about trading. They should first learn before trading in order not to lose money. This is a very good time to buy. Anyone who buys now can make as much profit during the bull run as a day trader. Whatever you do, make sure you are not losing money unnecessarily.

Well right, most of the newbies will come because they are lured by the benefits that are there, they come with great ambition for a profit, it is not uncommon because it could be that they come because they have initially seen the great benefits that are obtained by others or some influencers, so it is only natural that they come for profit. Quick profits are what they want, and as you said day trading now dominates them should they want to know the results quickly. Honestly, I used to be like that too, I came from a place of ignorance and only knew the big profits, and when I tried it, it turned out to be not as sweet as I imagined. So that's right, I like to not prohibit them from coming because they are interested in profits, but in addition I hope that before starting they first look at the various risks that are there and learn everything. Don't act silly by relying solely on luck, because obviously the answer is that losses will dominate. Learn everything there is, there are many books you can read. In trading if you want to make a profit then you have to take risks, and the only way to minimize risk is to learn more about the various possibilities that can harm you.

[justdimin]

So, I was wondering how you do trading?

1. Which exchanges you use and why?

2. Proces... so first you screen the coins, how? You get signals from somewhere? Where? Telegram groups? Is it reliable? You pay? After screening the coins then proceed to technical analysis or chart analysis? You do daily trading, scalping, swing... what is your method and why?

These are way too simple questions that should not be answered here because every person will respond with what they think the best but they will not be able to make it easy to understand for OP since he is a person of his own and our answers are based on our own past. I think OP should google these, he should go check the results of the google searches, read the answers, check the logic behind the answers and then he can make a case for himself and understand how he should do it.

This is mainly for the second question of course, first question is exchange, and that's always debated and you are not going to get a "right" answer for that, Binance is the most used one and there are still people who hate even binance.

[G_Besar]

I'm also a newbie and tbh I appreciate your stand on trading cos rusty skill can bring about huge lose. I have also scan through this thread with various platforms suggested but I think the  Bitget demo trading competition seem appealing and an opportunity to test one's trading skills.

What do you think?

If it is a demo trading competition held by Bitget on their exchange and if you yourself have never tried any trading method on another exchange before, then it would not be wrong for you to try the demo trading competition. But I would rather advise Newbies to read and learn to understand the market and several other major exchanges before carrying out any trading action in it, but if the demo trading competition doesn't have to involve a certain amount of money as capital, I don't think it will be a problem for anyone to take part. Including yourself too if you feel more comfortable and don't burden you as a newbie.

[Lida93]

I will always recommend binance to anyone that sort my advice on which exchange to use base on the fact that it the largest and most secure exchange, since it's the one I use anyway.

Concerning trading, there is no perfect system, it's only advisable to trade with a system that makes you more profitable.

As for me I do price action trading, it's a system that trade without indicators, you only react to the market using support or resistance, candles stick and chart pattern and,
Note; without proper risk management you can lose all your profit and portfolio in a single trade.

So if you want to go into trading, first of all invest in knowledge so you wouldn't be a liquidity provider while your homies are cashing out.

[Jody.Drummer]

I'm also a newbie and tbh I appreciate your stand on trading cos rusty skill can bring about huge lose. I have also scan through this thread with various platforms suggested but I think the  Bitget demo trading competition seem appealing and an opportunity to test one's trading skills.

What do you think?

If it is a demo trading competition held by Bitget on their exchange and if you yourself have never tried any trading method on another exchange before, then it would not be wrong for you to try the demo trading competition. But I would rather advise Newbies to read and learn to understand the market and several other major exchanges before carrying out any trading action in it, but if the demo trading competition doesn't have to involve a certain amount of money as capital, I don't think it will be a problem for anyone to take part. Including yourself too if you feel more comfortable and don't burden you as a newbie.

Well I agree with you, there is nothing wrong if you join the demo competition, because obviously you will not spend anything as capital because it is just a demo competition. In addition, just think of it as one place to test something that you have gotten from previous learning, or maybe that way you will be able to find out how far your knowledge and knowledge in trading. if you win in the competition, it does not mean that you are an expert in trading because even a professional trader still has to continue to learn to develop his skills, that's because the market will continue to run and very volatile. So the point is there will always be new things that appear in the market, so you have to keep learning to balance your knowledge and skills.
Trading on a demo account with trading on a real account is very different, and the core point that distinguishes it is our perspective in doing it, you win on a demo account is easy but for the real account it is obviously very difficult because you have to balance the knowledge with the psychological mentality that is in yourself in order to make the right decision.

[Franctoshi]

I'm an investor and equally a trader, therefore I don't depend on anyone or any telegram group signal to carry out my trades, therefore Before I began trading I first started learning the basics rules about trading and anyone who wants to trade should first learn before engaging in trading as it involves some kind of risk. As a newbie, you should try investing in Bitcoin first, and ensure you do your own research before making any investment decision.

[Mame89]

I'm also a newbie and tbh I appreciate your stand on trading cos rusty skill can bring about huge lose. I have also scan through this thread with various platforms suggested but I think the  Bitget demo trading competition seem appealing and an opportunity to test one's trading skills.

What do you think?

If it is a demo trading competition held by Bitget on their exchange and if you yourself have never tried any trading method on another exchange before, then it would not be wrong for you to try the demo trading competition. But I would rather advise Newbies to read and learn to understand the market and several other major exchanges before carrying out any trading action in it, but if the demo trading competition doesn't have to involve a certain amount of money as capital, I don't think it will be a problem for anyone to take part. Including yourself too if you feel more comfortable and don't burden you as a newbie.

It's best as a beginner to start by looking for more new knowledge after using a demo account. For some people, this will work, for others not because of the emotional aspect of trading. With the demo you don't feel much because it's not real money. These are definitely not the same, but it helps to understand the principles of trading. Then you need to learn the psychology of trading after you use real money.

If you don't treat a demo account the same as real money, there's no hope. If you can't do it with a demo, you can't do it live. Hopefully this will serve as a warning to anyone new to starting trading. You will be truly delusional if you still believe otherwise.

[cryptocointrade.com]

Kraken - Good site for US traders

BTCC - Good site for US traders looking for futures and leverage trading. Great signup bonuses

Binance - Probably the best overall crypto trading site but doesnt allow US traders

Bybit - Great trading platform for perpetual trading. Great signup bonus

Bitget - A new upcoming and challenging platform. A lot of focus on copy trading

MEXC Global - Appreciated for high non-KYC withdrawal limits

Any site can fail for a numerous of reasons, self-custody is always the number one choice to store you cryptocurrencies.

[Richkiedx]

Risk management?

[nara1892]

Risk management?

In trading I think you can never make a real profit if you don't have any risk management in place, the profit may be there but the losses will definitely be higher than the winnings because there are no limits that you apply. As a trader, risk management seems to be a must-have thing, such as stop los and take profit, but I say not only that, because besides that you also need a strong mental and psychological, it is very important because it's useless if you have a good strategy but can't use it properly because your mental and psychological are always opposite for example.

So the point is that in trading anyone must have the right plan before they enter the market, remember the market is very volatile and you will be easily fooled there, so use a plan that you trust with some restrictions there as I said earlier, namely stop los and take profit and also train your mental and psychological because it will be very useful for making the right decisions. So by doing this at least you will be able to minimize some losses and also so that you avoid the name MC.

[tygeade]

It's best as a beginner to start by looking for more new knowledge after using a demo account. For some people, this will work, for others not because of the emotional aspect of trading. With the demo you don't feel much because it's not real money. These are definitely not the same, but it helps to understand the principles of trading. Then you need to learn the psychology of trading after you use real money.

If you don't treat a demo account the same as real money, there's no hope. If you can't do it with a demo, you can't do it live. Hopefully this will serve as a warning to anyone new to starting trading. You will be truly delusional if you still believe otherwise.

Demo accounts are definitely way to go if you are not doing a good job with real trading. There are a lot of people who are still not certain about what they are going to do and I think it is important to make it work one way or another. I know that it is going to take some time, but if we do the right thing then we should be able to make a profit out of it. I know that it is not that simple but we could end up with a good return from it.

I hope that it gets to a  point where we could make some profit when the time comes and it is going great. I know that a lot of people do not have any type of benefit from it, but that doesn't mean that we are going to end up with a result that would be profitable, we should be making it easily after learning a bit.

[YOSHIE]

So, I was wondering how you do trading?

1. Which exchanges you use and why?

OP, everyone here trades crypto based on different knowledge and expertise, some do it by spot, margin, futures, what is certain is that crypto trading knowledge is needed before doing it.
Exchange, for me there are two Binance and local.

2. Proces... so first you screen the coins, how?

No, only Bitcoin is considered for trading.

You get signals from somewhere? Where? Telegram groups? Is it reliable? You pay?

All social media cannot be used as capital for trading, telegram is worse, a nest for fraudsters.

After screening the coins then proceed to technical analysis or chart analysis? You do daily trading, scalping, swing... what is your method and why?

Yes, analysis can be useful in crypto trading, it is good basic guide to crypto trading, spot method, currently better for me.

[Nrcewker]

If you are looking for an exchange, then I can suggest you to use Binance. It’s one of the oldest exchanges available on the internet. Moreover it’s trusted by million of users. They do require KYC in order to trade, so yes if you are comfortable with that, then go for it. Moreover it’s very user friendly and you can easily trade on that platform. Regarding the coins, then yes traders do some research about particular coins and track their charts, once the price is down they purchase it and trade with it.

[ololajulo]

I'm not a trader, but I have a little knowledge about trading.

1. You can use Binance or Kraken where this both exchanges have a good reputation, low trading fee and low withdrawal fee. P2P or DEX aren't good due to lack of liquidity and lack of pairs, after all a trader must accept to lose his identity.

2. There's no legit signal channel, so you must understand about it. It depend on each trader, someone might say scalping is better, the other one say futures is better than spot trading etc.

I'm highly intrigued by Kraken's trading platform, primarily due to its robust regulatory compliance and accessibility to most residents of the United States. This is particularly appealing to fellow forum members who, like me, have limited experience with the exchange. Nonetheless, it's worth noting that Kraken offers a smaller selection of cryptocurrencies and maintains stringent security measures.

[tjtonmoy]

1. Which exchanges you use and why?

The most reliable CEX that I used to use for trading was Binance. I said was because there have been some issues with the SEC and things are not on the better side yet. Well if you are in the USA this should be a problem to look out for. If not, you are good with it although anything could happen at any time. Another reputable centralized exchange is Kucoin. Also, I heard about MEXC but I haven't tried it out yet. So you can choose any from them. Or if you want to choose DEXs, you can do that too.

2. Proces... so first you screen the coins, how? You get signals from somewhere? Where? Telegram groups? Is it reliable? You pay? After screening the coins then proceed to technical analysis or chart analysis? You do daily trading, scalping, swing... what is your method and why?

Never depend on signals or copy trading as a beginner. Learn the process on your own and do it on your own. This is important because if you become dependent on them, you are most likely to learn nothing about trading from them. You can use them to compare your analysis for better results and understanding.
And why pay those who know what is real or scam when you can do it on your own? When you are learning to trade, do the long trading. It will help you to understand the process as you are dealing with more data and time. Never go for quick money. Stick to your learning and strategy. If you follow this and keep working on your trading strategy, you can become a good trader. It takes time for sure but it is 100% worth it.

[Quidat]

So, I was wondering how you do trading?

1. Which exchanges you use and why?

2. Proces... so first you screen the coins, how? You get signals from somewhere? Where? Telegram groups? Is it reliable? You pay? After screening the coins then proceed to technical analysis or chart analysis? You do daily trading, scalping, swing... what is your method and why?

Thanks for answers.

- Simply buy low Sell high 

1. Binance, OKX, Kucoin - It would vary depending on the coins that im trading because there are ones which arent listed on a specific exchange platform. This is why i would really be
needing to jump into another place but most of the time i do really hang on with Binance which i do mostly be trading up Bitcoin and some top alts like ETH or any other
as long i do see some good entry then thats the indication on making such position.

2.DYOR - Dont make yourself that easily believe with those signals been given out by certain groups or individuals. It cant really be just giving out that kind of significant
benefit for you but rather it would really be stirring up your mindset. Always stick on your own and would really be that focusing into it and the most important thing is
that dont make yourself on rushing up on things because this is where mistakes do usually happens.