Bitcoin Trading Rules | Bitcointalksearch.org

HerrAndreas

full member

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Quote from: DinaErfan on October 06, 2014, 06:04:18 AM

Hello,
I am new to this forum and thinking about starting to trade bitcoin, what are the rules and requirements to start trading ? and is it risky or safe ?

1. Never forget, that you have to tame two deamons and make them your pets. Fear and Greed. Work with them, let them work for you, but never ever let them touch you.

2. it is as risky as you make it. If you can not judge if something you are doing is risky, then you probably shouldnt be doing it anyway (e.g.: juggling running chainsaws, wire walking, or trading bitcoin).

3. If ever you feel you are not 100% in control stop. and take a break.

4. read this: http://nakamotoinstitute.org/mempool/dont-panic/ at least once a week.

5. seriously.

good luck.

LusyLi

newbie

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Thanks to all, for me it is a very useful info.

Nrcewker

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LuckyDiamond.io - FLAT 50% Deposit Bonus!

Don't worry, lad, there are no rules, take good care of your coins

bounst

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are there rules on here? i can't know. Roll Eyes

johnevanns

newbie

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hi,
I'm trading on huobi and I'd like to know if we're sailing with anybody ... on the same boat.. or anybody is anybody here in the chinese exchanges.?

I always see people claim that the "Volumes are fake " .........!!!!!!! I've but I don't think that's necessarily false, because I sometimes I'm able to view my position in the order book and history of trades. furthermore summing up all those they do arrive at 70000 to 20000 btc what's your opinion on about these exchanges.

redbean2010

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There is no set rules. just be careful of paypal trades.

Ingatqhvq

hero member

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Quote from: DinaErfan on October 06, 2014, 06:04:18 AM

Hello,
I am new to this forum and thinking about starting to trade bitcoin, what are the rules and requirements to start trading ? and is it risky or safe ?

but at low price, then sold at high price.

stellar1

member

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Merit: 10

Depends on your prior trading knowledge & experience. If fresher better to begin elsewhere. If experienced, please backtest your system on BTC (I suggest one of the largest three exchanges in terms of volume) for at least past 6 months....the backtest will reveal enough price patterns to you; hit rate, risk/reward per trade, etc....once you have the stoploss & targets in place begin small and grow size only after you pull in enough from the market.

Happy trading!!!

kinnu

sr. member

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Trading is always risky but more risk more profit. Always maintain proper stoploss in trading don't go against the trend. Don't invest all the capital in a single trade.

arieq

sr. member

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Quote from: krishatnet on October 07, 2014, 10:29:50 AM

As bitcoin is very volatile risk is high and reward also high. Do some technical analysis by observing charts before buying or selling.

Agreed, but if you're a good trader and you are confident in your analysis, then being down 60% in a volatile asset won't cause panick. If you're in control of your emotions, then the sensible move is to invest more to lower your average buy in price.

BTCjust

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there is no any rules, just two things fill me with constantly increasing admiration and awe, the longer and more earnestly I reflect on them: the starry heavens without and the moral law within.

krishatnet

hero member

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As bitcoin is very volatile risk is high and reward also high. Do some technical analysis by observing charts before buying or selling.

Sniper76

full member

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Observation will help you Wink

In trading, you can learn without risk, just in looking into order book movement and coin evolution associated to his trading market.

And +1 with waterpile, NEVER buy from a forum/twitter/website... tip. It will always too late Wink

waterpile

hero member

Activity: 602

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Quote from: DinaErfan on October 06, 2014, 06:04:18 AM

Hello,
I am new to this forum and thinking about starting to trade bitcoin, what are the rules and requirements to start trading ? and is it risky or safe ?

RULE 1: DON'T trust what people say coz their intentions might to mislead you or its for their own advantage. trust on your own instincts

RULE 2: Don't forget Rule 1

shorena

copper member

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No I dont escrow anymore.

There are no set rules. Avoid trades vs. something that can easily be revoked (e.g. paypal). Dont accept 0 confirmations. Use escrow to increase security. Other than that apply general trading advice: dont rush, take your time double and tripple check, dont trade while your head is elsewhere.

Note: since you didnt specify "trade" I assumed digital goods.

DinaErfan

newbie

Activity: 19

Merit: 0

Hello,
I am new to this forum and thinking about starting to trade bitcoin, what are the rules and requirements to start trading ? and is it risky or safe ?

Topic: Bitcoin Trading Rules (Read 1935 times)