Bitcoin Trading from Scratch | Bitcointalksearch.org

perfect999

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Quote from: ImmortalTJ on March 05, 2021, 09:37:46 AM

The first thing you need to get started trading bitcoin is to open a bitcoin wallet. Bitcoin traders are actively seeking the best possible solutions for trading and investing in bitcoin.

These bitcoin strategies can also be used for trading bitcoin cash as well as other cryptocurrencies. In fact, you can use this as a trade guide for any type of trading instrument.
The method to employ are simple. Diversify your trades. ...
Minimize trading costs. ...Watch Trading times. ... Make sure to follow Bitcoin News. ... The use of technical analysis is essential. ... Finally, use stop losses.

Some people don’t understand trading, they just jump into it without having full understanding and that’s why you would see some of them saying that trading is a scam. I have seen some people say that trading is a scam, and that it is being manipulated by exchanges like Binance and Coinbase.

The problem with such people is that they are lacking understanding of what trading is all about ,and since they are lacking that understanding they are now thinking that it is a scam. Some of them get in thinking that they are going to get rich easily because of one or two stories that they have heard, but when they start losing they think something else.

darewaller

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Quote from: Mamun74 on April 15, 2021, 02:39:52 AM

If you don’t have enough knowledge or experience about trading. It's risk for you.Making little mistake you will lose you investment. So you can even learn with article books,YouTube. And also follow the bitcoin news.You can invest and get good profit by trading. I think bitcoin will keep it up.

Instead of doing all theses steps that you have mentioned, it would be much easier to make profits from bitcoin market if we are opting to hold bitcoins. Because holding does not require any knowledge or any strategy or any timing. You can simply do with your capital. I believe people who are afraid of taking risks in trading, definitely should go for long-term holding rather than struggling to learn the tactics of trading.

Mamun74

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If you don’t have enough knowledge or experience about trading. It's risk for you.Making little mistake you will lose you investment. So you can even learn with article books,YouTube. And also follow the bitcoin news.You can invest and get good profit by trading. I think bitcoin will keep it up.

bitgolden

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Quote from: ImmortalTJ on March 05, 2021, 09:37:46 AM

The method to employ are simple. Diversify your trades. ...
Minimize trading costs. ...Watch Trading times. ... Make sure to follow Bitcoin News. ... The use of technical analysis is essential. ... Finally, use stop losses.

It may be simple only in words Cool

.
If you come into market fluctuations then all your plan will be vanished and then you will be taking decisions based on what market demands you which is the reason why people are most struggle in bitcoin markets even with small volatility. In simple words, trading bitcoin is not that simple like what you learn in 2 lines of guides.

The better approach could be, watching markets for months to years and practicing on demo accounts with demo money and then reading books and watching videos to develop strategies. You must need at least 6 to 10 months of intensive preparation to withstand against market fluctuations so that you could make consistent profits.

bandungan

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Quote from: ImmortalTJ on March 05, 2021, 09:37:46 AM

The first thing you need to get started trading bitcoin is to open a bitcoin wallet. Bitcoin traders are actively seeking the best possible solutions for trading and investing in bitcoin.

These bitcoin strategies can also be used for trading bitcoin cash as well as other cryptocurrencies. In fact, you can use this as a trade guide for any type of trading instrument.
The method to employ are simple. Diversify your trades. ...
Minimize trading costs. ...Watch Trading times. ... Make sure to follow Bitcoin News. ... The use of technical analysis is essential. ... Finally, use stop losses.

This point is the main point to be used as a trading option, but sometimes people don't use stop losses or people use stop losses from bots. my question is to use a trading stop loss for bitcoin is it accurate, considering that the price of bitcoin fluctuates very high and the price changes easily in seconds ?

Fredomago

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Quote from: Zilon on April 11, 2021, 01:44:04 PM

Crypto market is highly volatile. Getting the right knowledge before trading should be considered first before going into trading. Market analysis which could take couple of months to comprehend must be clearly understood. In analysing the market two major analytical approach is required

Technical analsis
fundamental analysis

Both helps, it's better to prepare yourself as this market is really volatile, making small mistakes will leads you to lose your entire investments, knowing all the fundamentals will solidify your foundations.

Make sure to have a good insight with this two types of analysis, everything will enhance once you already enter the market, it's
up to you if how would you develop your strategy, patterns is very important as it will be the basis of your journey, having the
right one would bring you decent profits.

doomloop

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Quote from: ImmortalTJ on March 05, 2021, 09:37:46 AM

The first thing you need to get started trading bitcoin is to open a bitcoin wallet. Bitcoin traders are actively seeking the best possible solutions for trading and investing in bitcoin.

These bitcoin strategies can also be used for trading bitcoin cash as well as other cryptocurrencies. In fact, you can use this as a trade guide for any type of trading instrument.
The method to employ are simple. Diversify your trades. ...
Minimize trading costs. ...Watch Trading times. ... Make sure to follow Bitcoin News. ... The use of technical analysis is essential. ... Finally, use stop losses.

Diversifying assets is a good strategy, because if you’re investing in only one coin the coin can start crashing at any moment and you will be the one that’s losing your money just because the particular asset you have invested your money in is losing its value. But when you diversify, if one is not doing good, the others will still be growing, though I do tell people not to do it too much, they should be selective of the coins that they are going to be investing their money.

Some people just like to invest in any coin they and before you know it they have lots of shitcoins on their portfolio that will end up going nowhere. So it’s best to be selective, just because a coin seems good is not enough for you to jump on it ,you will still have to dig in deep and do more research on it so you don’t make mistake. I don’t think I have done more than ten before.

pankowri

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$CYBERCASH METAVERSE

Bitcoin trading from scratch can uneven mostly. It happens on assumption. Most of the users are beginners and they haven't knowledge, experience, patient so they lose the maximum of the time. But sometimes it happens to reverse that makes one successful.

fullhdpixel

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Quote from: blckhawk on April 11, 2021, 10:42:31 AM

Trading in a bearish market could be profitable however, it is not as big as a bullish market can give. A bearish market is more likely a buying phase for traders since the prices of coins are way cheaper and then bullish is more likely the selling phase where you will make a profit. On that note, newcomers are only after with big profit so I doubt they will stay in this market once the bear market comes.

That really scares me a lot because each time I go into something thinking maybe I will make a profit from this one too, I am just considering the fact that I made a good amount of money this year but the fact is that one day I will fail, it will go down, and that is when I will be screwed and everything will crash while I am holding it.

I remember very clearly the period when in 2018 I was buying almost everything, since I got in with low amount of money and increased it, I took out my initial money plus some more and used rest of it to buy many different coins, I was throwing 100-200 dollars to anything I found. Eventually I started to lose when the market crashed. I am wiser now and I am not doing that, I am keeping myself in check and not put my money into everything, I still do invest more than I normally do, but not as much as I did in 2018 period.

Zilon

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Bitcoindata.science

Crypto market is highly volatile. Getting the right knowledge before trading should be considered first before going into trading. Market analysis which could take couple of months to comprehend must be clearly understood. In analysing the market two major analytical approach is required

Technical analsis
fundamental analysis

blckhawk

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Quote from: Sled on April 11, 2021, 08:57:03 AM

Quote from: cyriljundos on April 11, 2021, 06:56:57 AM

Many people today is engaging in crpto trading beccause they know how big income was in trading bitcoin pair, they can double up money in instant depends on your trading choices and techniques. Beginners attempt to trade in a low capital first and finding out themselves what are possible techniques in trading that they can earn. Many guides and reading candlesticks to know the peecentage high and low of specific token.

Big gains? It is just for now, as the bullish season continues but wondering if these traders could manage to keep in trading during the bear season. I'm for sure that many were leaving and suffer losses.

If they are into trading now, better take the opportunity because it can be done soon and the market momentum will change. If we are new to this, never excite more that this will happens all the time because the market will test your patience and strategies when the market turns to bearish again. So better not to overthink that trading is giving you a huge income, it can be sometimes but not all the time.

Indeed, that is why it is necessary for us to take all the opportunities we can see in front of us because we never know when this bullish trend will be over. Trading in a bearish market could be profitable however, it is not as big as a bullish market can give. A bearish market is more likely a buying phase for traders since the prices of coins are way cheaper and then bullish is more likely the selling phase where you will make a profit. On that note, newcomers are only after with big profit so I doubt they will stay in this market once the bear market comes.

Sled

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Bitcoin- in bullish time

Quote from: cyriljundos on April 11, 2021, 06:56:57 AM

Many people today is engaging in crpto trading beccause they know how big income was in trading bitcoin pair, they can double up money in instant depends on your trading choices and techniques. Beginners attempt to trade in a low capital first and finding out themselves what are possible techniques in trading that they can earn. Many guides and reading candlesticks to know the peecentage high and low of specific token.

Big gains? It is just for now, as the bullish season continues but wondering if these traders could manage to keep in trading during the bear season. I'm for sure that many were leaving and suffer losses.

If they are into trading now, better take the opportunity because it can be done soon and the market momentum will change. If we are new to this, never excite more that this will happens all the time because the market will test your patience and strategies when the market turns to bearish again. So better not to overthink that trading is giving you a huge income, it can be sometimes but not all the time.

cyriljundos

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Many people today is engaging in crpto trading beccause they know how big income was in trading bitcoin pair, they can double up money in instant depends on your trading choices and techniques. Beginners attempt to trade in a low capital first and finding out themselves what are possible techniques in trading that they can earn. Many guides and reading candlesticks to know the peecentage high and low of specific token.

jack05

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There are so many guidelines available and which one to follow or not is very trivial. Use your own mind to choose any strategy. Since its your own hard earned money and no one will share your lose, make choice wisely.

whyrqa

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Quote from: CryptopreneurBrainboss on March 19, 2021, 10:36:21 PM

Quote from: Ausgewielt on March 19, 2021, 10:11:28 PM

...

You can't give what you don't have so I see no reason why newbies are to help themselves instead the experience and professional traders should be the ones doing the helping here. The newbie should focus more on building themselves and when they have all the capabilities of standing on their own as a trader then they can start thinking about contributing to the growths of the industry by mentoring other upcoming traders.

If your learning how to trade from scratch then it's better and most advisable to focus on yourself. The market has so many distractions that if you're focus you can easily get distracted from your aim of picking interest in trading in the first place which one of those distractions is what you just highlighted above.

At the very least, a beginner should emit all the available information and correctly weigh the pros and cons, as well as draw the right conclusions, while not overestimating their capabilities. You can even learn with the help of the corresponding youtube channels, but a trader learns various nuances not only through his personal experience, but also through communication with other users and an increase in his knowledge base.

CryptopreneurBrainboss

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Quote from: Ausgewielt on March 19, 2021, 10:11:28 PM

...

You can't give what you don't have so I see no reason why newbies are to help themselves instead the experience and professional traders should be the ones doing the helping here. The newbie should focus more on building themselves and when they have all the capabilities of standing on their own as a trader then they can start thinking about contributing to the growths of the industry by mentoring other upcoming traders.

If your learning how to trade from scratch then it's better and most advisable to focus on yourself. The market has so many distractions that if you're focus you can easily get distracted from your aim of picking interest in trading in the first place which one of those distractions is what you just highlighted above.

Ausgewielt

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Novice trader should get this information. We should help each other so our community can become stronger. From me, I just advice to novice trader to start with BTC and fiat pair, stable coin also good. There are many things to do that maybe they make some mistake so I think they should lowering the risk in trading first. Buy at low price and sell higher, maybe that statement is only for traders who have enough experience or for long term trading. However stoploss is important thing that can make traders get better possition for the next trade.

trigger1975

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Quote from: ImmortalTJ on March 05, 2021, 09:37:46 AM

The first thing you need to get started trading bitcoin is to open a bitcoin wallet. Bitcoin traders are actively seeking the best possible solutions for trading and investing in bitcoin.

These bitcoin strategies can also be used for trading bitcoin cash as well as other cryptocurrencies. In fact, you can use this as a trade guide for any type of trading instrument.
The method to employ are simple. Diversify your trades. ...
Minimize trading costs. ...Watch Trading times. ... Make sure to follow Bitcoin News. ... The use of technical analysis is essential. ... Finally, use stop losses.

Well, if it would be that easy, we'd all be millionaires. Trading is a serious business and if you don't treat it as such, the market will crash you. Becoming a profitable trader takes time and requires hard work at ones own personality and psychology.

If one is serious about trading, get a solid strategy for a timeframe that fits your personality and time budget. Write a trade plan and paper trade that plan for at least 3 months with a reasonable risk per trade. If you are not profitable, don't go live, stick to paper trading unless your are profitable. Periodically review your trades and check for errors you have made and how you can prevent them. And: keep a solid trade journal where you write down your trades, feelings and thoughts along with the trades!

Yeah, I know, paper trading sucks. But if your psychology and motivation does not keep you trading boring paper, you don't manage to trade live.

trigger1975

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Quote from: goaldigger on March 05, 2021, 05:05:17 PM

If you’re trading from scratch and no idea about trading at all then I suggest to study trading first before you creating your trading account because learning trading takes time and to become more profitable, you have to gain the right knowledge on trading. Its easy to create trading account and bitcoin wallet, but its hard to learn the process so its better to focus on this.

Not to forget to manage the psychology of having real money at stake.

tygeade

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Quote from: ImmortalTJ on March 05, 2021, 09:37:46 AM

The first thing you need to get started trading bitcoin is to open a bitcoin wallet. Bitcoin traders are actively seeking the best possible solutions for trading and investing in bitcoin.

Choosing the right wallet is actually important because some of the users are considering exchanges as wallets which is a bad mentality and better to use a proper wallet that gives you full control (private keys) and after trading you should withdraw funds into the wallet.

Quote from: ImmortalTJ on March 05, 2021, 09:37:46 AM

Minimize trading costs. ...Watch Trading times. ... Make sure to follow Bitcoin News. ... The use of technical analysis is essential. ... Finally, use stop losses.

Minimizing trading costs is not within our hands though but yeah some exchanges have lower fees, but also keep in mind if the exchange itself is trusted. I would rather pay a small extra fee to Binance than trading at HitBTC for example.

Follow Bitcoin news but don't get carried away if a celeb is buying or a big company is selling the coins, make sure you know the decisions are not based on someone else's opinions. Your money, your thoughts and your actions. Lots of guys recently jumped on the hype train of doge coin initiated by Elon Musk but I have a feeling they will fall flat very soon.

Topic: Bitcoin Trading from Scratch (Read 643 times)