Cryptocurrency Trading Strategies for Newcomers: Pointers and Suggestions

[Mastost]

To start trading in cryptocurrencies is an amazing experience, don’t you think so? Let’s make a knowledge base out of it and include all the tips and tricks from our experienced members.

Which are your technical analysis tools you use most often? What are some of your favorite chart patterns, moving averages or indicators that you rely on?

How do you manage risk prudently? Would you rather use stop-loss orders, risk percentages based on account balance or perhaps another approach?

When it comes to executing trades, which platforms or exchanges do you find most suitable? What are their unique features that attract you to them?

Emotions can go wild when market roller coasters take over. What advice do you have for those who want to keep calm and act sensibly?

Have you tried different trading styles such as day trading, swing trading or long-term holding? Share your experiences and insights with us!

[Oshosondy]

To start trading in cryptocurrencies is an amazing experience, don’t you think so? Let’s make a knowledge base out of it and include all the tips and tricks from our experienced members.

Some people will rush in and rush out as fast as possible when they have lost huge amount of money to trading. It could be one of the worst experience. But traders learn from mistakes and build better strategies. Using the amount of money that they can afford to lose.

Which are your technical analysis tools you use most often? What are some of your favorite chart patterns, moving averages or indicators that you rely on?

I use BB and RSI. Also MA and EMA. Learn about Fibonacci retracement.

How do you manage risk prudently? Would you rather use stop-loss orders, risk percentages based on account balance or perhaps another approach?

Most importantly, use the money that you can afford to lose to trade. See trading as risky as gambling.

When it comes to executing trades, which platforms or exchanges do you find most suitable? What are their unique features that attract you to them?

Binance, Bybit, Kucoin, OKX and HTX. I prefer Binance and Bybit.

Emotions can go wild when market roller coasters take over. What advice do you have for those who want to keep calm and act sensibly?

It is better to trade with experience than emotion. This is difficult to control especially if you are greedy.

Have you tried different trading styles such as day trading, swing trading or long-term holding? Share your experiences and insights with us!

Swing trader is better because it will not take much energy from you. If you scalp or day trade, just one winning in a day is enough. If you trade to make profit more and more within a day, you might later lose more than win that day.

[Husires]

You will not get a single answer. The more experience you have in trading, the more detail-oriented you are. For example, fundamental analysis tools such as support, resistance, and Fibonacci points are sufficient for a beginner, but a professional trader uses different Fibonacci scales, more advanced tools, and so on. Therefore, if your goal is long-term trading, you can learn how to predict it easily and in less than a week. However, if it is short-term, it is better to experiment and customize your experience, as it will most likely be unique.

[kojektea]

in different trading situations every day, so I can't apply just one strategy, if my daily trading is not very active and even if I trade daily in future trading I will apply stop loss & take profit, this minimizes the risk in trading, and there are times when we save for the long term when we see a project and we truly believe it has potential

[alastantiger]

Which are your technical analysis tools you use most often? What are some of your favorite chart patterns, moving averages or indicators that you rely on

Many traders use the Fibonacci and there is a great book out there that I would recommend for anyone who wants to learn about it. It is the Fibonacci Analysis" written by Constance Brown.

How do you manage risk prudently? Would you rather use stop-loss orders, risk percentages based on account balance or perhaps another approach?

Better to Hodl than to trade if you have not acquired the necessary trading skill. This is how to manage risk.

When it comes to executing trades, which platforms or exchanges do you find most suitable? What are their unique features that attract you to them?

Binance and Crypto.com

Emotions can go wild when market roller coasters take over. What advice do you have for those who want to keep calm and act sensibly?

Nobody ever lost money by being patient. This is my advice to those who will take it.

Have you tried different trading styles such as day trading, swing trading or long-term holding? Share your experiences and insights with us!

I am not a full-time trader and I am still learning. But of all the trading styles, I am favouring swing trading because I feel it works better for beginners like myself who want to explore other things while still involved in trading part-time. It require no expert knowledge in being able to read charts or technical analysis. I even think that swing traders tend to be happier than day traders.

[_BlackStar]

I see you're asking too many questions - you probably won't get anything done before you start. Based on what you asked - you are probably not a new user just getting into trading, so don't make comparisons between you and others.

I hope I haven't misunderstood you - so don't waste your time and do your best and don't force things. Every trader's strategy is different - what's best for them may not be best for you, so don't copy others for your trading.

[Viscore]

I see you're asking too many questions - you probably won't get anything done before you start. Based on what you asked - you are probably not a new user just getting into trading, so don't make comparisons between you and others.

I hope I haven't misunderstood you - so don't waste your time and do your best and don't force things. Every trader's strategy is different - what's best for them may not be best for you, so don't copy others for your trading.

Exactly. It seems you’re a lot obsessed into trading than any other trader here. Remember that every trader has its different method and strategy on how to profit from his trade, and what might work for others might probably not work for you. So focus on your own and develop your skills and significant strategies that you can utilize in the future.

Trading is not a do or die, so when actually do his thing in trading, regardless if it’s a negative or positive outcome,  what matters more is the experience, not actually if he lose or profit.

[Issa56]

How do you manage risk prudently? Would you rather use stop-loss orders, risk percentages based on account balance or perhaps another approach?

Always trade with the little amount you can afford to lose, don’t trade with the money, which if you lose, will end up affecting you. If you are a beginner, always make sure you trade on spot trading, always avoid futures, and if you will be involving yourself in future trading, always trade with small leverage, always trade with a small amount, and don’t go into a trade with all your money. When you are trading, stop loss is optional. You can decide to use it if you can’t monitor your trade, and if you will be able to monitor your trade, then you can just forget about it, it’s a choice.

When it comes to executing trades, which platforms or exchanges do you find most suitable? What are their unique features that attract you to them?

When I am trading, I do prefer using the Binance exchange. Maybe it’s because it was the exchange that I first knew about when I started trading, that’s just the reason why I stick to it, and when I started trading, Binance was the only exchange that I knew that had P2P futures, which allowed my country. That’s why I just stick to the exchange.

Have you tried different trading styles such as day trading, swing trading or long-term holding? Share your experiences and insights with us!

I do trade and am still a bitcoin holder. I do hold bitcoin for the long term, and I do trade bitcoin also. The reason why I do trade is for me to be making money to take care of some basic things, at least my attention won’t be on the bitcoin that I am accumulating for the long term. If you are a trader, you will definitely try out different strategies to see which one works better for you, and if you notice you are not making more money from the strategy you are using, then you can upgrade it.

[GreatArkansas]

How do you manage risk prudently? Would you rather use stop-loss orders, risk percentages based on account balance or perhaps another approach?

I will answer this based on my preference:
I have a strict risk: reward ratio for every trade I do.
For example, I am willing to risk 5% - 10% of my current portfolio balance for every trade and besides that, I have to stop the loss based on my risk: reward ratio, like 2 for example. Then I  will stick to that, I will set a stop loss then a price target, and I must be patience.

[Mastost]

To start trading in cryptocurrencies is an amazing experience, don’t you think so? Let’s make a knowledge base out of it and include all the tips and tricks from our experienced members.

Some people will rush in and rush out as fast as possible when they have lost huge amount of money to trading. It could be one of the worst experience. But traders learn from mistakes and build better strategies. Using the amount of money that they can afford to lose.

Which are your technical analysis tools you use most often? What are some of your favorite chart patterns, moving averages or indicators that you rely on?

I use BB and RSI. Also MA and EMA. Learn about Fibonacci retracement.

How do you manage risk prudently? Would you rather use stop-loss orders, risk percentages based on account balance or perhaps another approach?

Most importantly, use the money that you can afford to lose to trade. See trading as risky as gambling.

When it comes to executing trades, which platforms or exchanges do you find most suitable? What are their unique features that attract you to them?

Binance, Bybit, Kucoin, OKX and HTX. I prefer Binance and Bybit.

Emotions can go wild when market roller coasters take over. What advice do you have for those who want to keep calm and act sensibly?

It is better to trade with experience than emotion. This is difficult to control especially if you are greedy.

Have you tried different trading styles such as day trading, swing trading or long-term holding? Share your experiences and insights with us!

Swing trader is better because it will not take much energy from you. If you scalp or day trade, just one winning in a day is enough. If you trade to make profit more and more within a day, you might later lose more than win that day.

Without a doubt, getting into crypto trading is indeed an interesting journey! Your efforts to learn from mistakes and create better strategies are well aligned with the evolving nature of this space.

I noticed that you rely on the BB, RSI, MA, EMA, and participate in the Fibonacci retracement for technical analysis—a difficult choice! How did you figure out how to incorporate Fibonacci retracing into your system? Are there any specific points that proved particularly effective?

Your advice about managing risk is in line with an important aspect of marketing — use only what you can afford. It is a sobering reminder to all market entrants to recognize that trading is as dangerous as gambling.

It’s interesting to see your preference for Binance and Bybit on different platforms. What specific elements or aspects of these changes do you find most challenging?

How you handle emotions in business is tangible. Experience certainly trumps emotion, but as you aptly express it, it’s easier said than done. Any specific strategies or actions you use to curb emotions when trading?

Your insights into swing trading requiring minimal energy are interesting. Of course, day-to-day shopping can be demanding. Have you encountered specific challenges or successes with swing marketing that you’d like to share?

[Mastost]

You will not get a single answer. The more experience you have in trading, the more detail-oriented you are. For example, fundamental analysis tools such as support, resistance, and Fibonacci points are sufficient for a beginner, but a professional trader uses different Fibonacci scales, more advanced tools, and so on. Therefore, if your goal is long-term trading, you can learn how to predict it easily and in less than a week. However, if it is short-term, it is better to experiment and customize your experience, as it will most likely be unique.

Anyway, you are spot on! The depth of analysis generally evolves with experience, and is interesting as professionals use more advanced equipment.

I fully agree with the importance of providing beginners with basic analytical tools such as support, resistance and Fibonacci points. It provides a solid foundation and understanding of market dynamics.

Your insight into long-term and short-term trading strategies is valuable. Forecasting trading delays over the course of a week is a bold assumption. In other words, the specificity and testing required for short-term trading are consistent with the dynamic nature of the market.

Clearly, change and continuous learning are key factors for marketers at all levels. Have you had a lot of experience with entrepreneurial strategies and have any specific tips or experiences to share about your evolution?

[batang_bitcoin]

Be careful when your emotions are high because intelligence becomes low when you are on that state. And for some to be calm when the market is too hyper and you can't stop yourself of being chill at that time, all you have to do is to find something that you are comfortable doing or taking. Like some comfort foods, games to play, smoothies or anything that makes you calm when you drink. As in do anything in your capacity just to calm yourself because you'll be the biggest loser when you can't attain to stop your emotion and you're pushed to do these trades that you're not comfortable.

[the rise]

When you trade, it's best not to be too hasty in making decisions. You first look for information on the coins or tokens you want to buy, to hell with charts, I don't like looking at charts, choose a trusted exchange, I myself only use Binance because I can easily withdraw fiat currency there, keep control of yourself when trading, don't get carried away by emotions, because many traders are frustrated because they are not able to control themselves

[bolshojkush]

Has anyone tried trading through bots? They are advertised everywhere and talk about big profits. Has it always been interesting, has anyone tried them or are they just useless programs?