Trading for a Living by Alexander Elder is, in my opinion, a must read for anyone that is going to engae in trading any significant amounts. It's a book that talks about stocks and other traditional tradeable securities but it goes deep into the psychology, the risks, etc.
Basically, and this is my opinion taken from experience and from that book and others:
- Be aware and accept that any money you put into bitcoin can be lost completely. Yes, you can lose all of your money, it is possible. If you cannot accept that then don't invest/trade.
- One of the most important things in trading is limiting your risk versus just thinking of how much you can win.
- When you engage in trading (not so much if it's longer buy and hold investing) you are facing the best mathematicians in the world, and the most sofisticated joints in the world trying to make money off your lack of experience.
Limit your risk, limit your risk, limit your risk. Trading is not a new science, there are thousands of expert businesses and individuals with the best and most expensive equipment and methodologies in the world to make money off of the newcomers like you.
Topic: Guide for trading (Read 1009 times)
101 guide @ wallstreetcrypto.com I think is pretty good
http://www.wallstreetcrypto.com/p/crypto-forex-101-ride-on-magic-school.html
http://www.wallstreetcrypto.com/p/crypto-forex-101-ride-on-magic-school.html
Theres an indepth tutorial at babypips.com for forex trading which is pretty good if you're completely new to trading. I don't know if there's a crypto guide out there but if you find one I would be interested in it aswell.
Is there any guide to learn crypto trading step by step for beginners?
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