Advice for Those Who Would Like to Start Bitcoin Trading

[Aggressor66]

Hopefully with the advices presented below you will get a rough idea of how to get started and start earning some Bitcoins!

Make your own decisions.

I figured the most important bit of advice should come first. Following the choices of others is a very bad idea. Many traders will use social media as a way to manipulate markets by spreading bad investment advice in order to lower the prices. I strongly recommend you make your own decisions on when to invest and when to sell.

Do your research.

There are a huge number of different sites dedicated to monitoring the price of Bitcoin with features such as order depths, candlestick charts and much more. These sites are extremely helpful when it comes to reading trend lines and general market analysis.

Do not go all in.

Only invest money that you are fine with potentially losing. Over the years, many traders have made the big mistake of investing everything they have and losing it. There have been people that have even sold their houses for Bitcoin. While some have invested lots of money into Bitcoin at the right time, it does not mean you will end up with the same fortune. Start with small amounts of money and once you get the hang of trading you can increase the amount.

Start with Altcoins.

Altcoins are alternative cryptocurrencies that tend to be significantly cheaper than Bitcoin. Due to the general stable and high price of Bitcoin, any real profits aren’t going to be that noticeable unless you invest heavily. However, with certain Altcoins, investing could lead to a much higher profit.

Take advantage of the Internet.

If you have no idea how trading works then there are many useful videos on YouTube/ tutorials on the Internet that can teach you to understand the essentials in order to get started. Due to the similarities between cryptocurrency trading and stock trading, it shouldn’t be hard at all to find a tutorial that can explain candlestick charts and order depths.

Cheers

[Domino]

Take advantage of the Internet.

If you have no idea how trading works then there are many useful videos on YouTube/ tutorials on the Internet that can teach you to understand the essentials in order to get started. Due to the similarities between cryptocurrency trading and stock trading, it shouldn’t be hard at all to find a tutorial that can explain candlestick charts and order depths.

Cheers

It would be great if you can list some good introductory videos and guides to interpret those indicators and chart patterns.

[@YoeN]

thanks good advice
i want to try trade BTC
just a litlle 

[fearlesscat10]

It would be great if you can list some good introductory videos and guides to interpret those indicators and chart patterns.

Yes, a compilation of a few would be really appreciated.

Just to get newbies like me started.

[mizna]

Do not go all in
this is very important 

[b!z]

That is a great guide! I would recommend people without experience to avoid spending large amounts of money on daytrading, as there is a very high risk of losing said money. You should always exercise caution and should not trade based on emotion. Also, keep in mind that trading is risky enough to be considered gambling.

[LOBSTER]

And learn technical analysis and don't just trade on your gut feeling.

[findftp]

Start with Altcoins.

Altcoins are alternative cryptocurrencies that tend to be significantly cheaper than Bitcoin. Due to the general stable and high price of Bitcoin, any real profits aren’t going to be that noticeable unless you invest heavily. However, with certain Altcoins, investing could lead to a much higher profit.

It depends.
If you're new to trading at all, you should stick to bitcoin.
If you're an experienced trader in other markets, you could go to alts because there are many scams and they are hard to see if you're new.

[CryptoTrout]

Starting with altcoins is a great way to lose a lot of money really quick.

[ikydesu]

Start with Altcoins.

Altcoins are alternative cryptocurrencies that tend to be significantly cheaper than Bitcoin. Due to the general stable and high price of Bitcoin, any real profits aren’t going to be that noticeable unless you invest heavily. However, with certain Altcoins, investing could lead to a much higher profit.

This is good step for start trading cyrpto currency.

And learn technical analysis and don't just trade on your gut feeling.

That's right.

[innocent93]

I do not recommend Bitcoin trading ,especially for the Newbie,because you won't get much profit from it for the stable price,on the contrary,you need to take high risk from trading.

[Marcy]

I do not recommend Bitcoin trading ,especially for the Newbie,because you won't get much profit from it for the stable price,on the contrary,you need to take high risk from trading.

yes agree
trading is too risk for us (newbies)

[odolvlobo]

Take advantage of the Internet.

If you have no idea how trading works then there are many useful videos on YouTube/ tutorials on the Internet that can teach you to understand the essentials in order to get started. Due to the similarities between cryptocurrency trading and stock trading, it shouldn’t be hard at all to find a tutorial that can explain candlestick charts and order depths.

Cheers

It would be great if you can list some good introductory videos and guides to interpret those indicators and chart patterns.

Technical analysis is nothing more than astrology for traders. It pretends to be a science, but it is based on fantasy and nonsense.

[findftp]

Take advantage of the Internet.

If you have no idea how trading works then there are many useful videos on YouTube/ tutorials on the Internet that can teach you to understand the essentials in order to get started. Due to the similarities between cryptocurrency trading and stock trading, it shouldn’t be hard at all to find a tutorial that can explain candlestick charts and order depths.

Cheers

It would be great if you can list some good introductory videos and guides to interpret those indicators and chart patterns.

Technical analysis is nothing more than astrology for traders. It pretends to be a science, but it is based on fantasy and nonsense.

Hahaha, lol.
Since I apply TA to my trading I finally make profit.
Before I did everything with emotion.

Since bitcoin doesn't give a fuck about my emotion TA works much better.

[SirChiko]

Do not go all in
this is very important 

Gotta highlight this point, invest only as big ammount as you can affort to loose.

[pooya87]

its a great list of advice, thanks for that. but can you add some links to it for example for the last part you can add links of the websites that contain charts and stuff like that i know of coinmarketcap

[odolvlobo]

Take advantage of the Internet.
If you have no idea how trading works then there are many useful videos on YouTube/ tutorials on the Internet that can teach you to understand the essentials in order to get started. Due to the similarities between cryptocurrency trading and stock trading, it shouldn’t be hard at all to find a tutorial that can explain candlestick charts and order depths.

It would be great if you can list some good introductory videos and guides to interpret those indicators and chart patterns.

Technical analysis is nothing more than astrology for traders. It pretends to be a science, but it is based on fantasy and nonsense.

Since I apply TA to my trading I finally make profit.

Monkeys throwing darts can make a profit, too. That doesn't mean it works.

[Buziss]

Take advantage of the Internet.
If you have no idea how trading works then there are many useful videos on YouTube/ tutorials on the Internet that can teach you to understand the essentials in order to get started. Due to the similarities between cryptocurrency trading and stock trading, it shouldn’t be hard at all to find a tutorial that can explain candlestick charts and order depths.

It would be great if you can list some good introductory videos and guides to interpret those indicators and chart patterns.

Technical analysis is nothing more than astrology for traders. It pretends to be a science, but it is based on fantasy and nonsense.

Since I apply TA to my trading I finally make profit.

Monkeys throwing darts can make a profit, too. That doesn't mean it works.

Technical analysis is more like a self-fulfilling prophecy IMHO.
When a lot of people believe in it, those traders will act the same way when some "patterns" appear and their action will cause the price to move exactly as what they predicts.

[SirChiko]

thanks good advice
i want to try trade BTC
just a litlle 

Did you read all the advices or only the first one? There is advice to START WITH ALTCOINS..IMHO it's good advice.

[LOBSTER]

Take advantage of the Internet.
If you have no idea how trading works then there are many useful videos on YouTube/ tutorials on the Internet that can teach you to understand the essentials in order to get started. Due to the similarities between cryptocurrency trading and stock trading, it shouldn’t be hard at all to find a tutorial that can explain candlestick charts and order depths.

It would be great if you can list some good introductory videos and guides to interpret those indicators and chart patterns.

Technical analysis is nothing more than astrology for traders. It pretends to be a science, but it is based on fantasy and nonsense.

Since I apply TA to my trading I finally make profit.

Monkeys throwing darts can make a profit, too. That doesn't mean it works.

Technical analysis is more like a self-fulfilling prophecy IMHO.
When a lot of people believe in it, those traders will act the same way when some "patterns" appear and their action will cause the price to move exactly as what they predicts.

Technical analysis is the key to success in my eyes (if you trade short-term, long-term you must use your mind ).