OP's idea is good, but it would be great if apart from doing that market diversification, he could read books about trading, educate himself, especially from those operators who share their experiences, and how they managed to handle them in the face of crises, which is where actually the true teachings are taken.
Many focus on AT, but before that it is better to understand the market, at least try to understand it. Something really useful is if you have BTC, you can have it invested while you learn, and be very careful in diversifying with other cryptocurrencies.
Topic: Bitcoin Trading from Scratch - page 4. (Read 677 times)
I am not sure why you wrote that post but that is very very generalised one and look like random thoughts. Well, bitcoin trading market is huge and its growing day by day. It’s an opportunity for those who were less interested in trading before but wanna enter now. You can surely make bigger stash here as compared to other stock or share markets. Bitcoin gives you integrity of price and it’s market cap. It’s ever growing and will keep doing so as we speak. I have myself grabbed good profits during the surge of bitcoin since three to four months now. With few tricks and control of your mind you can do miracle here. 😊
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.
For an optimal experience while trading, I think it would be a lot more better if the bitcoin you're actively traded isn't kept on the exchange you're trading at. While I'm a big fan of saving your cryptos in your personal wallet compared to non-custodial wallets but when it comes to active trading, it doesn't work out well as you would end up using majority of your profits to pay for tx fees, not to mention the exchange might be charging percentages for each completed trade. I just said that's something that should be kept in mind first. If you still want to use a personal bitcoin wallet, you can do so then use the wallet as a storage for your profits.
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 might be easy to say but I think it is hard to execute when you are in the trading field.Minimize trading costs. ...Watch Trading times. ... Make sure to follow Bitcoin News. ... The use of technical analysis is essential. ... Finally, use stop losses.
Trading isn't an easy way of getting profit(especially in day trading), there some instances that gaining profit by the luck or in your technical analysis. If you're from the scratch, there are too many consequences to come, and possible loss is very common in trading, so isn't have any assurance since you know those mentioned above you didn't get a loss.
I tend to agree above that holding is a play-safe investment in crypto, if you can wait for a perfect time, that's good for you. Because investment in Bitcoin or in crypto is always good if it is a long-term investment.
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of course it is good to know technical analysis even to make hodl, but day trade is very risky if you are not very experienced
Technical analysis is a basic lesson that must be mastered to become a trader who is able to make profits from any price differences. In addition, good psychology will determine how strong you are able to overcome when the price is outside of predictions and what decisions need to be taken. Holding also requires a strategy and target that must be achieved.of course it is good to know technical analysis even to make hodl, but day trade is very risky if you are not very experienced
for day trading it is more risky, but it will provide daily profits if you are able to analyze every movement well. it takes a lot of flying hours to master daily trading and it takes a large enough fund to get big profits too.
Technical analysis is still like trying to drive a car on a highway using only the rear view mirror.. Although an interesting hobby at the end of the day technical analysis isn't much more advanced than reading tea leaves or chicken bones to see the future...
-snip-
of course it is good to know technical analysis even to make hodl, but day trade is very risky if you are not very experienced
Technical analysis is a basic lesson that must be mastered to become a trader who is able to make profits from any price differences. In addition, good psychology will determine how strong you are able to overcome when the price is outside of predictions and what decisions need to be taken. Holding also requires a strategy and target that must be achieved.of course it is good to know technical analysis even to make hodl, but day trade is very risky if you are not very experienced
for day trading it is more risky, but it will provide daily profits if you are able to analyze every movement well. it takes a lot of flying hours to master daily trading and it takes a large enough fund to get big profits too.
doing bitcoin trade can be more prejudice compared to doing hodl
for example:
you have 1 btcoin and decide to do day trade
today the bitcoin price is at $48000, you did all the technical analysis and decided to buy at 48000 $, but hours later the price drops to 46000 $ and you sell because you put stop - loss
But two days later the price rises from $46,000 to $52,000
if you had done hodl in the $ 48,000 you could be making a profit of $4,000
of course it is good to know technical analysis even to make hodl, but day trade is very risky if you are not very experienced
for example:
you have 1 btcoin and decide to do day trade
today the bitcoin price is at $48000, you did all the technical analysis and decided to buy at 48000 $, but hours later the price drops to 46000 $ and you sell because you put stop - loss
But two days later the price rises from $46,000 to $52,000
if you had done hodl in the $ 48,000 you could be making a profit of $4,000
of course it is good to know technical analysis even to make hodl, but day trade is very risky if you are not very experienced
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.
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.
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