Topic: How can I get into trading (Read 756 times)

Everyone has his own choice that whatever amount he wants to use he can but the main mistake here is that most of the people think that through trading with large amounts they will win large amounts at just a single try but this is not all easy to achieve your wished goals in just a single try.

Maybe sometimes you win with a single try but everyday it does not happen therefore use your mind instead of using your money because an active mind full of knowledge can give you a huge return but money without knowledge cannot give any amount according to your expectations.

Your goal is good, because trading is the goal / end of a crypto asset ownership other than hodl , Although you have to be more patient when entering even a professional. But technicalities must be learnt if you want to get the optimal price when trading.

Indeed, as long as you hodl and do not sell too quickly you will remain profitable as long as it is bitcoin and so far it is very promising and can prove a good recovery. If you buy while trading you better be on a demo account or not allocate all your fiat and sell when you don't recognise the trend it will be minus and make some beginners dumbfounded by the shrinking assets they have, better budget with funds that can afford to lose, because sometimes some people need trading practice not just analysis and theory.

The fud that spreads on social media because of disappointment and based on curiosity only leads to misery and is no different from gambling. get to know yourself including the trading style that is suitable for running. Do you use meta trader for stock trading? CMIIW I only use cex like binance, bybit, ok etc not forex brokers.

I think, all those steps can make you a great trader in the future, because you need to learn trading to achieve the knowledge before thinking how to use funds to purchase Bitcoin from the market, which is the right step to take to achieve your desire in the future. Taking a good step to understand the rules and regulations that governed the crypto trading, I think it will make you to experience favour in your crypto trading whenever there is a bullish season which is the right season to release coins to make a passive income. Once you learn all those things from crypto trading, you will invest what you can afford to lose as a new trader, because you will not hold anybody responsible for your failure which you need to know before going into crypto trading.

Well, some people use much money to start trading and some people use you all depend on what you can. Trading is just a simple thing that will make you lose money. I’ll make you get more it just have to try to know how to understand the process and try not to take off using big money to start trading, you can actually start trading with whatever you have but you have will profit very small

I have to agree. Don’t make trading difficult for you regardless if you are still a beginner. I don’t actually agree that it’s always best to learn the harder way. Because for me, that would only make you easily quit and lose interest in trading.

If you can find someone who will serve as your mentor in trading, I think that would be more great. Trading even if a lot would say that it’s highly tough and risky, will always end up easier once you have someone that will help you along the way. Just do your own diligence to learn as well, and try to be patient as much as possible, I believe you will be a successful trader in the end.

The funny part is this.
There are many people that asks about how to become a trader but then, they'll say that they don't have money to invest.
So, that's the first part that they need to solve and answer in order for them to start trading. If they are able to do that, they can proceed to the next part but no guarantees of profiting.

You first need to know about trading. Learn the rules of crypto trading. And have money to invest.  So you have to learn market analysis. You have to know about the market situation.  The basic rules of crypto trading should be followed. There should not be too much leverage. You should refrain from trading repeatedly.  After all, trading should be learned first.  And it is very time consuming.  Experienced should be followed. Their steps should be followed.

This is quite true and we are going to end up with a lot of trouble if we start with zero idea, so we should try to learn more about it on the long run. This is of course not that easy because a lot of people find horrible and wrong sources to study from and that makes it quite tough for everyone involved.

If you learn how to trade from the wrong sources then you are not going to be happy with what you get neither, the result will definitely be terrible for you. Whereas, if you end p learning from the right sources then you are going to do a lot better than expected because learning from the right sources means that you are going to know what you are doing while trading and that will make you a lot of profit over course of some time.

Firstly you can start by learning baby steps joining some airdrops, there you could learn process of registering the required wallets and stuffs that could lead to acquire knowledge.
Eventually by successive activities that most participants also guides you in the process of participation, you'll be able to learn trading when time comes that token you have will become tradable at trading sites where it will be listed

Successful traders indeed, do have their fair share of losses and mistakes and that's what made them wax even stronger and rebound with better experience of the market situations and trends, as well as the price patterns.

Asking a question like this with the willingness to learn has surely placed our dear OP in the right spot to become a great trader, and am sure with the responses so far gotten, the motivation to act on this thought will come as easy because, with being more active in this section and Bitcoin community in total, the learning and development stages that would lead you to become successful in your quest as a cryptocurrency trader, has already begun.

Indeed, relying on trading signals, expecting high profits instantly, using high amount of capital even new because they are expecting for higher returns, but, on the other hand, they are very lack of knowledge about trading, even about basic crypto. This is ironic if we are seeing how bad a newbie starts their trading journey without enough good knowledge. Because it seems like they are doing something blindly, because trading is not gambling, this is exactly different. But if they are doing it without any knowledge, only using trading signal, it seems like only like gambling to themselves. and the risk  of this condition, is exactly very high, isn't it?

Yes, and most people, especially newbies, make this mistake of relying either on trading signals that they get from groups or individuals charging them some fee for those signals or copy-trading that is available on multiple platforms nowadays which might be reliable for short-term but one can see no growth if they stay reliant on such things because for financial growth, personal growth is important and you can't grow yourself if you are relying on others.

This is why it is important for such traders to understand the importance of knowledge because knowledge can make them free and independent, and this industry is all about freedom since freedom means growth and growth means more profit over time which is what the purpose of every trader is for getting into trading.

If you would like to be involved in the world of trading you must have at least knowledge of the things you would like to trade for example the token or coin you want to trade also what the purpose of this token if there's any impact or a lot of pairs into other coins? so you can ride with the market volatility, next is what platform you will use to trade those coins and if that coin you are eyeing is supported by them, check an exchange that is suitable with your trading habit. I guess last is the wallet you will be using, again exchange is not a wallet, make a separate wallet for storing of your funds, its better to pay fees than lose most of your assets due to possible reason of exchange. Not your keys, not your coins.

We never improve if we keep on relying on others and success seems to be impossible. Standing on our feet should be in our mind but this is not possible if we never trust ourselves and of course, if we don't have the right knowledge about trading. Mentorship is designed to help newbies and it is not wrong in the sense that we really need help from someone who have the capability to teach and shorten our learning process. As we can make decisions alone and already build some confidence, this simply means that we are ready enough to take responsibility for our trading future and are willing to accept whatever happens.

The only difficult in learning trading is only at the beginning as you have to explore a lot of possibilities so you can maximize your learning process. After that, when you think you are knowledgeable enough, then start to engage in real trading even with only a small amount. Don’t expect to gain profits immediately as it would be impossible for beginner traders. But instead, everytime you lose, make it as your bigger motivation to learn and improve more. If you do it consistently, things will definitely turn good in the long run.

Note that successful traders today have their fair share of losses and mistakes when they were starting  but instead of getting discouraged and scared, they use it as their motivation to learn more in trading until they become excellent traders in the market.

I myself initially always relied on the opinions of others other than myself, but for now it is no longer and time to be independent and when we are too dependent on people's opinions, we often think badly later if at any time the suggested advice is executed but fails miserably.

For now. I try to be independent and learn from previous experiences and even if it is wrong and lost, it will be an additional reference and self-study where it must be addressed as soon as possible.

You want to be independent without depending on other people if you won't always be at that point.

Of course it is true, everything must start from the smallest, none other than because you are a beginner who certainly does not have much knowledge and understanding of the world of trading, plus trading is always a risky activity that sometimes the possibility of risk can be very high when you are involved with bringing the wrong approach. But on the other hand in my opinion it would be better for you to first multiply learning before you finally trade with real money, you can learn from a demo account first to test the depth of learning that you have done, and after that if you feel you are capable enough to jump in using real money then the next as you said that you should start with a small budget amount that you can really be responsible for if you end up losing. And one thing that before you trade with real money then make sure that you feel capable in terms of analyzing the market well enough and also make sure that you have good risk management, and the most important thing is as you said that has the ability and knowledge of when to start and when to stop.

I think it's a good opinion where before starting something, let alone want to invest and trade in this cryptocurrency space, what is conveyed above comes first. If you are not ready, beginners should not be too forced if they are afraid of loss because there are so many effects when the big appetite is lacking.

Trading is not an ordinary game that immediately makes us rich, but the world is full of drama when we run, especially if lack of knowledge and experience is quite fatal as a result.

Starting one way or another is the most important part. Some say get a mentor, some say learn from youtube, some say learn from reading books, some say learn from doing it, there will be a lot of ways that people will suggest, and most of them are free so just do all of them if you can but the most important thing is to be 100% in it mentally.

A lot of people can be 100% in it financially without being in it mentally, you need to realize that you are going to make some money from this and if you can't do that then there is no reason to keep doing it. I believe that it would be quite tough if we ignore that, and we should just make sure that we are all in. If we can be mentally involved then we would be able to slowly get better and better.

When they are just getting to know trading, of course it would be better for them to start with small capital and be able to bear it if they experience failure on the first trade they make and they must also be able to take advantage of this opportunity as a lesson for us so we can understand trading well. Learning about market conditions is of course very important because they will be able to know for sure the right time for them to enter the market so they can make a profit from the trades they make.

By learning good and correct trading methods, we can know the right time to enter a safe position and exit to take profit. We can also study various kinds of theories in several media such as YouTube and articles that we can read. The most important thing is that you have to control yourself to remain careful with the risks involved and don't make decisions too quickly. You have to consider it carefully first because what we use is money which is now increasingly difficult to get.

The amount necessary to trade depends on each trader, with some people using just a couple of hundred dollars to start with, while others may use millions, so do not worry too much about it, now when it comes to the wallet to use, if you can afford a hardware wallet just buy it, as it will save you a lot of headaches along the way.

Finally you need to prepare yourself to study as you have not done so since you were in school, and it will take that much dedication just to become a proper trader, but if you want to become really successful, and I do not see why you would not want to do that, then you will need to study even harder and for a longer period of time.

As other members are saying, research is the first thing you do. Besides, it was not hard since it was available on the internet.
Perhaps, it is easy to gain trading ideas but it is hard and a different situation in real trading. That is why we can ensure that even having all the needed learning we have before trading this will can't leave us confident that it all be okay. Of course, at least it is our advantage but as usual, losing is possibly going to happen.
Spend the minimum amount required depending on the platform you use. At least, in the case of losing it all, that won't hurt you too much.

You can't just jump into trading; you need to learn first, and trading is a very risky investment. You need to be very careful when you trade. The first thing is that you should stop thinking about trading now if you have never done it or have any knowledge about it before; if not, it will cost you a lot. Furthermore, no one will tell you the amount you should trade with; it will depend on your pocket. No one here knows how much you are worth, but don't forget to use the amount you can afford to lose. The money you know, even if you use it to trade and you lose it, you will land in financial difficulties.

This area you pointed out, to me is the most important factor to be considered while preparing to trade or learn trading. The emotional ruggedness of a trader is that fuel that keeps the trader going. I remember when I first joined the cryptocurrency industry, and it was the period of 2021 bull run. I learnt the basics of trading and was practically buying low and selling high, since it was bull run, I thought I have mastered the act of trading. But when the market went against me heavily, I was emotionally bewitched. I couldn't perform any reasonable task in the real life until I sold at lose and regained my healthy life. That was when I realised that trading actually isn't for me

This is very important to be able to trade well, but we think that after doing in-depth research about trading there is someone who has experience in trading to be able to guide us and will be able to ask them about things that we don't understand well about trading.
The experience we get from a demo account is of course very useful for us when trying to trade, but when trying with the capital we have, we must be able to do it very carefully and don't make mistakes that cause us to lose the capital we have.

In addition to all the answers written above, you may ask yourself whether you will be able to control all the emotions that are present during trading. For people with a weak nervous system, trading causes serious problems, which means, in addition to all the knowledge, you must train yourself to the fact that the loss of funds, as an integral part of practice, will bother you every time. Are you ready for this? Is the game worth the candle, or is it still easier to limit yourself to regular investments in Bitcoin?

No problem learning many sources available but trading skills will be better when we want to learn separate analysis by combining many technical courses available.
When just learning to trade, try to involve in it using a much smaller budget, so that we can control emotions when loss.
Trade also has similarities in terms of investment even though the way is different, because the most important thing is how we can be responsible for trade involvement.

This method is a step to control yourself because trade cannot always provide benefits.
There are times when we also suffer losses and this is where it requires mental readiness and tries to restore losses in further trade.

That's right, and maybe I would say that they are the beginners who are lucky enough to have managed to get a mentor who is truly trustworthy who can guide and direct you on various things that must be learned first, one of the reasons why I say that you are lucky enough to have managed to get a mentor who is truly sincere in teaching you because lately I often find that quite a lot of beginners are victims of fraud, where the mentors only work a little but ask for a lot of money which in the end is not uncommon for them to run away.

Another thing is that I agree with you that even though we have good mentors who are sincere in terms of teaching us about various things, in the end we should not be too dependent on them because after all they assist you only when you are in the learning phase at the beginning of the engagement, meaning you have to really learn everything according to what the mentor directs, the point is to try to make yourself mature and independent.

Research matters. Blind diving is dangerous. Discussing trading with pros is smart. Only book knowledge goes so far. It appears trading is simple. You're right: quality performance requires talent. Daily income is appealing. However, losses hurt as much as wins.

Having backup income is key. Avoid risking unaffordable money. Trading is risky yet offers endless upside. But here's it. Win large without taking big risks. Learn and deal wisely. Long-term account building. Believe in yourself but be modest. Market lessons are daily. Hug them. Be patient and continue improving. You can succeed. Money, talents, and confidence.

As someone new to this space, you should start learning about this space . Learn as much as possible before you take a step towards trading because it's knowledge that will help you succeed, and without it, you will fail and then blame the space for that. So I wouldn't suggest that you create a wallet, top it up with money, and then start trading right away because that wouldn't be the correct advice and I don't want to misguide you like that.

Start by learning about Bitcoin, do your research about it, check its history, check the chart, play with it a little by changing the candles and timeframes, once you have learned everything about it, move to learning about wallets, once done, move to the next topic. You will see doors opening one by one, get into trading only when you feel you are ready for it, when you wouldn't need to ask such basic questions in a public forum.

Getting a mentor that you know well might be a good start. That way, you will gain clear insights and ideas on how to start trading and make your trades worthwhile and profitable. Although you don’t need to rely everything on your mentor as you also need to do your part and make due diligence to learn, but we all know the process of learning will turn easier and more worthwhile if you have someone who will guide and assist you most especially that you are still starting to learn in trading.

The number one step is first learning how to trade. There's no need hasting to losses when there's always an opportunity to earn. It's better you get well prepared by learning how to trade and then you can comfortably start trading.


You just need how much you can produce and how much you can afford to lose. Don't go get loan because of trading.

You trade with exchanges, just choose a reputable one.

I hope your questions are answered already OP.

This is what I have to say to you - don't overthink that even if you know how trading works, you will be successful right away. Just to note that there is no magic in trading, some of them spend years before they reach their goal and we never know about you. But of course, this will depend on how you are adapting to the market condition and the level of your knowledge.
You really need time to do it and make sure that you are prepared enough for what will happen to your money as to remind you that losing is certainly possible when starting.

That is the first thing you should do while trading conduct research so that you do not lose too much money. And you must find someone you know who is knowledgeable about trading, you cannot rely solely on the internet you must also practice physically. When you understand trading, there is no need to ask anyone what much I will start with. Trading is not easy, but once you learn and know how to stake, I thing you will like trading above any other business or investment since it allows you to cash out on a daily basis when he favour you. and you should aim to have another source of income that can help you if you lose on trading you can get another money to stake in trading and get your capital and profit back. when you can't take risk don't try to start trading because he won't favour you is better you do your investment and minimize your risk but if you are strong you can do it and profitable because he change people life to become someone now and guiding people to make money to. i like trading very well but have not get huge knowledge i need to get yet to start taking huge risk .

google is your first step

First of all go and have a deep Research on the tools used in trading along with the techniques used. Don't buy any courses just go on social media and have a research and learn from it.

Then create demo accounts or have some investment of a short range that you can practice upon. Invest the money like you're investing thousands of dollars so that you can get the practical experience.

If you are having problems with understanding what you are reading, and it is not really making sense to you, you can get someone to assist you by explaining in their own terms and understanding some of these trading lessons.

Learning to trade will also need you to motivate yourself heavily because many traders who start out to learn trading end up quitting because it looks too difficult to learn.

The first step is find resource materials online for trading. Read veraciously like your life depends on them. Babypips.com is a good place to source trading materials as a greenhorn. Get hold of different trading platforms (maybe two or three) to demo trade what you've been reading.

Fund/capital shouldn't be the emphasis as you can lose any amount you fund with if you don't have the prerequisite knowledge for trading. Skill set is the major thing and you should do all you can to get that to be successful in trading.

Wallet type or usage depends on what crypto you're trading. Most traders do their stuff on exchanges. There are variety of options on exchanges than on wallets, except you're referring to DApps on wallets.

Meta trader isn't for all tokens. You can use live charts from coin sites. Poocoin or Tabtrader is also available for chart analysis.

Basically yes there are quite a lot of learning methods that we can use, if you don't have any experience at all then you can learn from the experiences of others, such as taking the positive part of other people's experiences and also avoiding various actions that make other people experience things that are not desirable such as experiencing a significant amount of loss where you can agree with yourself not to make mistakes that have been made by others, and this method can help you accelerate the learning stage.

I understand that all successful traders always start from a beginner who knows absolutely nothing, of course, to gain experience, courage is needed, even if you fall and experience things that are not wanted but this is what is called experience where you can learn from these events in order to become a better trader and develop, This means that of course a beginner must have the courage to try even if the results are not as expected, it's not wrong because successful people are always born from failure because they make mistakes, but if you deliberately don't learn anything at the beginning then you try blindly with completely empty knowledge then yes maybe I will agree with your opinion that it is a mistake that should not be made by a beginner.

The point is to never give up and never get tired of learning, I understand that it takes a lot of energy, but this is what you have to go through if you really want to achieve success in any field. Remember that you must be willing to take the bitter medicine first if you want to get well.

As a new trader, all you need to do first before going into trading is to acquire the knowledge of the trading, because that is what will make you to be serious in savings funds that will make you to use the opportunity during the bearish season to invest in Bitcoin and wait for the bullish season to come before you can trade to make a passive income. You can start the trading with small capital to test yourself if truly you are good in the field of trading before you can increase the capital in the future, because if you start with huge amount of capital and you lose everything in the trading, it will be difficult for you to continue trading again. Since Bitcoin is the major coin that is helping new and old traders to grow higher faster, i will advice you to make use of electrum wallet to hold your Bitcoin and your Bitcoin will be safe in your wallet till you change your mind to trade to make income from the market.

I don't usually use meta trader because I prefer to use centralized exchanges when doing spot trading for some of the coins and tokens that I have seen well in recent times. But if you are happy with the use of meta trader, I also don't forbid you from using it as long as it is safe enough for you. But once in a while, try looking at the big exchanges and try to use them at a time when you have the opportunity to try them, maybe you will be interested and not just rely on the meta trader.

However, if you need a wallet to store assets or profits you get from trading results, I would advise you to convert all profits from trading to Bitcoin and save all Bitcoins in an Electrum wallet. Because on the one hand, you can also consider this as a long-term investment, because if you only want to save money for a while before you use it for trading in the market. You can store it anywhere as long as it is safe enough for your funds, including on the exchange where you trade if it's only temporary.

There must be some minimum amount that the OP can allocate for trading. And this amount should not be lower than $ 10, otherwise he simply will not be able to open an order, since on most exchanges this amount is the minimum for opening an order.

As a newbie that wants to into trading you just to basically learn more on the fundamental and technical analysis of trading where which you can start practicing with a trading demo app to enhance/improve what you've learnt so far.And also don't forget to trade what you cannot afford to lose and don't fix your mindset on the risk but your mindset should be fixed on facing the outcome.

There’s no amount of fund you can start with, you can start with the amount you’re ready to lose and won’t feel bad after losing them. For a starter, starting with intensive research about what you want to do is very important also, without knowledge about trading, don’t start yet.Get the basics, perfect a strategy and use it for your trading journey.


Starting with Demo account is also a good way to start in order to minimize loss of funds as you’re growing and learning. The disadvantage of demo trading is that it has no emotional feelings attached and knowing how to control that emotion is amongst what will make you perfect your trading.

The best thing for you now is to go for information about learning tips about trading, this including how to read your candle, when to sell, when to buy and how to exit the market, what is lot size and many more. If you want to MT5 then its no longer spot trading you should choose what to trade like future trade, spot trading or whatever.
If you are entirely new to the space then you need to go knowledge otherwise you would do serious mistake because lot of people who just focused on starting trading without them going for knowledge are regretting it currently because there things they don't know and they are facing difficulty.

Because I like video resources and it seems very easy to learn watching somebody teach it to me, I find YouTube my go to resource when I want to learn anything new on the internet. It could be very difficult at the initial stage to know which YouTuber to learn from as there are a lot of them.  The way to know the one to follow is the one that teaches in a very simple way that you can understand.

 That is the good thing about the internet if you choose to learn about trading there are many YouTube teachers who would teach it in different ways but there are just a few that will resonate with you and you'll love it. Go for those ones. They are likely not to have a large audience but that is fine. The smaller channels put their hearts into it.

I think that a skill, can only come from within and it's not something that is totally learned but we can practice it to make our skills more sharper. We can also practice the knowledge that we have acquired.

I believe that all things can possibly be done by us but if we think we can't, then there is a reason for it. Maybe we are only lazy but if we have a budget, we think that it's a good idea to just hire a coach to make things easier for us. The lessons that are found online or in the books can still come from the experience of that authors or someone else and knowing them does not mean that we will also now become an experienced person.

Youtube is a good platform where we can learn lot of stuffs for free but for a beginner, it can be really confusing especially when they are completely new so there are high chances of them get into the hands of these fake paid signal group selling YouTubers. It will take time to learn the facts via youtube or just anywhere cause experience is the best teacher.

all of that is true, but I think it will all grow when novice traders finally have experience. Experience can be gained by yourself from trading activities, as well as from experiences shared by other people.
Beginner traders will grow faster when they pay attention to it all. beginner's mistake nowadays is to try first even without knowledge. Maybe it was out of curiosity or persuasion from friends.

we all also started from beginner traders. learn everything we can learn. and don't be afraid to try when we are ready. whatever the initial trading results, we can always learn.

Wallet? You meant trading platform? If you are beginner and don’t know where to trade, then Binance is for you mate. At Binance due to the user friendly interface you can easily able to trade. But before trading, you need to learn how to do it. And the best teacher is YouTube. Get yourself well acquainted with the trading basics then observe the market. At last start with whatever amount you have and trade by taking calculated risks.

Yes because in any case it is always recommended to first learn things first before you finally jump in, not least because by dedicating yourself to learning things first then you will be able to get at least enough basic knowledge to be used as a first step in the world of trading, but actually in the world of trading one must continue to learn things even if they already know a few things, because after all the market will always move which means there will always be new things you have to learn if you really want to become a successful trader in the future.

In addition, try not only to learn various things that have the potential to bring profits, but also learn some things that can make you avoid the possibility of significant losses, one of which is to learn risk management very well and apply it firmly, and if you feel that you are confident enough to plunge into the world of trading using real money then start your steps by taking the smallest possible risk such as only putting the amount of money that you can really be responsible for if in the end the session ends in a loss. And the key is like you said which is one of them don't rush, and I might add that a trader must have good patience, have a strong mentality, never give up and be consistent in learning, and eliminate the thought of "wanting to get rich quick".

If you are new to trading then you must first gain enough knowledge about trading. If you don't gain enough knowledge about trading then you can't succeed by trading well. In trading we must look at the long girls plan and then trade. We are in a hurry when it comes to trading. If we are patient and have a long-term plan, we will surely get success very quickly. Many times it is seen that newbies are too hasty in trading and want to earn money very fast. Everyone wants to earn money in trading field but it is wrong to do it too fast. In the case of trading, if we can patiently make long-term investments and trade after checking the market, surely we will all be traders in the future.

Going for spot trading is a good type of trading that is good for the newbies and their that knows how to find their ways and make money for themselves. Trading actually isneve difficult but the consistency to learn the art of trading is the major challenges many people are facing. We need to be prepared and make sure that we don't put our hands in short time trading which could be very versatile and make us to lose money even when we are supposed to be earning. It is important we trade well on the kind of trade we are good at.

When do you start?
It should be whenyou are exactly ready with all preparations of trading. Remember it is not only money and time. But it is also your readiness in knowledge of trading, wallets, fund management, managing risks, and also your acceptance of the trading risks. So, when you are ready enough, you can start learning trading.

What wallet?
If you are doing trading for daily, it is better to use the wallet of exchange itself. So, you can directly deposit your money into the trusted exchange to start trading, and let the coins there on the exchange. If you are confused of what exchange, see here in the CMC list:
https://coinmarketcap.com/rankings/exchanges/

But, Binance is the most recommended.

How much money?
Well, exactly this will depend on your readiness and the funds. remember!!! Don't use any money that you want to use in the the future real life, or using daily saving, or using daily needs funds. It is better to set the amount that you may be ready if something wrong and you lose the money.

You need to start by learning. Before starting you crypto trading journey, you need to learn some basic concepts which include learning what crypto is all about before learning how it’s trading is been done. After learning about the crypto trading, you will have to start with a demo account in order to test your ability of handling funds and also to test your trading knowledge. You can start if you feel satisfied with the little knowledge you have but make sure you avoid greed.

You can start with any amount you can afford to lose.

For trading, centralized exchanges are best for trading. You can use either Binance, KuCoin or Bybit to trade, they have good trading features and are user friendly.

First of all I will advise you go a d get knowledge and if possible get a mentor so it will make your trading journey much easier because if you get a mentor he /she will help you avoid certain mistakes and make your journey easy. Don't be in a hurry to fund and start trading, get the proper knowledge first and then the rest will be something you can easily get along with, talking about wallet I think it's best to use it for storing your Coin but then for trading you would need an exchange and probably trading view for the purpose of your technical analysis because you can't get to do a proper analysis on your exchange and not all exchange can be connect to mt4 or 5 .

After studying and getting the right knowledge, get a strategy with which you can work with and aswell continually get to remain profitable using the strategy then make sure to staying consistent so you get to been profitable.

If you want to learn how to trade, you need to acquire general knowledge about cryptocurrency. Trading is not what you will start, and you will be expecting profits instantly. If you want to make money from trading, then you have to learn, and it’s always a gradual process. Don’t be deceived by people who make you think you can easily make money from trading.
 
If you want to learn how to trade, there are lots of things you should consider. You need to have knowledge about trading, and you should know that learning should be a continuous thing. Discover the appropriate exchange that you will be using to trade. Don’t depend on trading signals, either paid signals or free signals, always do your analysis yourself. Know the amount you will trade with. I'm sure there are lots of things you should know, but I can’t really remember them all.
 
If you are a trader, do your research and choose a reliable exchange that you can use to trade. Mostly, I do use Binance and KuCoin exchanges to trade, but never store your coin on exchange. If you won’t be trading for some time, always make sure you withdraw your money into your cold wallet. Never leave money on exchange.

Your steps or suggestions are quite good for beginners who are just starting to invest, it is true that what you convey is the best lesson for a beginner, you should choose spot, don't choose short-term trading, it will drain your finances. It's not easy to trade, at least you have knowledge, psychological metal, if we don't have it we will definitely lose a lot of money and of course the risk is much greater than spot.

You cannot trade crypto using MetaTrader, because it is an application for forex trading. If you want to trade forex, then you can trade with MetaTrader, and there should be lots of tutorials on YouTube that you can watch for tutorials on trading forex. And for crypto trading, you can choose to trade on CEX, such as Binance, KuCoin, etc., there are several popular CEXs that you can choose and for the trading tutorial, you should first understand the instrument you choose and then you can choose which instrument to trade. suits you.
Forex and crypto trading strategies, in some ways they may be the same, but these two markets are different, so you need to adjust your trading strategy for both markets because the characteristics of these two markets are different.

10 dollars is too little capital to start real trading on the stock exchange, because many exchanges have a minimum order amount, which is equal to 10 dollars. So you need to continue your studies and earn in real life so that you can collect at least $100 to start trading, which will most likely be lost.

Engage in discussion here on bitcointalk,know what people are saying about trading,learn their skill, strategies and know when to start your trading life.Everybody here began from somewhere in trading,we were all novice,but Bitcointalk forum is a forum that does the work of education,it educates novice on different aspects of making money,it shows you how to buy,sell and trade your coin,but for you to be able to do that,you must take active part in the discussion going on in this forum for you to be a success in trading and investing.

Starting with a demo account is the right decision, I recommend you use the demo account for at least 1 year and spend a lot of time learning about trading. Additionally, if you are really serious about making money in this market, I think you should learn about investing and holding is better than trading. Holding will be somewhat safer, simpler, does not require as much knowledge as trading but can bring better profits than trading. I'm not against trading because I also trade in my spare time, but most of the people who make big money in this market are holders and not traders.

All you need to do is to understand what you are going into And the step to take what to do, No, I’m just going into eats immediately. Well, it’s still the same thing as the advice you’re looking for and always be careful and know their rights treat. Well I will just also advise you to watch some videos online maybe some YouTube channels and to see what trading is all about

@OP in addition you can also use the information on the https://www.babypips.com/ to know about technical analysis.  About the funds, cryptocurrency trading in Binance minimum trade is around $10  so you can set that as your minimum reference, anything more than that depends on you on how much you are willing to make as your capital for cryptocurrency trading.


How can a person trade in a CEX if he avoids using a wallet from exchanges?  @OP is not asking about a wallet for storing his funds for holding but for trading...

Well, having a mentor in trading creates a bigger advantage on you. However, make sure that you background check first your mentor first so that he’ll be your asset in the learning process, not just a greedy person who is only after your money.

Learning on your own and building your own experience in the trading market is actually a productive start, but if you can find a reputable trader as well who will guide you into the real world of trading, I guess that could be more good in your part.

Trading is not what you rush while doing, or starting,it is what you take one step at a time while following it.Trading should really be handled with caution because the market is very risky,and everythjng that one needs to know about it,should be known from someone who has experience about trading.Those poeple are the ones who can properly direct and show you what to do at any given period of time.They can as well tell you some strategies one can use in trading for him not to experience failure like they did,so as a newbie in trading,you must exercise patience in the process of learning and follow it gradually to be able to master those strategies.

- Research ( I suggest watching videos)
 - tried a demo account ( most exchanges have this feature in order for you to try and explore trading)
 - choose the most trusted trading platform
 - lastly, make ready to try in real trading

Remember that we can't learn instantly as we can learn more as we continue trading. Having a mentor could help you but never think about spending money to signal groups as it was useless.

I'm not sure about meta trader but as I've said, use a reputable platform and wallet rather than trying a new one. Your security is must be your concerned. And most of all, prepare to accept losses.

There's always a precautionary measure for beginners and you have to follow step by step and don't skip any thing especially the learning process.
First, you have to start learning how to trade because this is not just a simple buy and sell, you have to analyze everything here in order for you to succeed.
Second, you should have a capital where you can afford to lose because in trading, profit is not guaranteed.
Third, choosing the exchange and wallet is crucial, you have to ask other locals in your community what's the best site available for you.
Fourth, i think this is the most important part for me which is to learn how to control your emotion because in trading, you should decide based on your analysis and not based on your emotions.

Thank you all, I have read all the responses and advices been shared here and I’ve decided to gather more information and knowledge of trading. I’m already practicing on a demo Forex account. I’ll be going through other posts that involves trading to read and learn more from others here.
I believe being in this forum with so many intellectuals and professionals is an excellent opportunity to learn more and grow.

I have read the above responses and they have shared fair piece of advice hence I will not share about those stuffs which has been repeated but still would like to remind you never go directly into trading but always ensure you have a demo trading account and then try out all your strategies in the demo account for all sort of market situations be it pump and dump or sideways then enter into trading once you learn the art of trading and being successful in demo trading.

If you have some capital to learn and trade then you will get better of course because a lot of people do not realize how easy it is to make money from crypto trading but even easier to make a loss from the same thing. I hope that people could end up with a situation that could make some money but at the end of the day it is not going to end up with anything much easier in the end.

I hope that people could make some loss while learning because making a loss without learning is just money gone to waste, like flushing down the toilet, if you ever lose money then I hope that you learn something from it. That way you could get better because if you learn what went wrong then you will try to avoid the same thing again, and you should not be worried about it eventually.

From what you said, it can be seen that you have no experience or basic knowledge about this market yet you rush into trading. As someone who entered the market before you, I think your decision is not wise at all. You need to learn the basics about this market first and the first thing you should also avoid is trading because it is easier to lose money and not as easy to make money as you dream.

The things you need to prepare to become a trader are to spend a lot of time learning (knowledge) and what is more important is to prepare the amount of money you can lose. Because no trader can make a profit in the first years of participation, and I think there are not too many people who are willing to lose money when they first enter the market. That's why I advise you to avoid trading as a newbie.

Yeah thanks dear, I have a demo account on meta trader4
I’m still practicing the strategies I watch from YouTube and seeing how it moves, just want to know the best to use concerning BTC. For capital is 10$ too little for a start or 50$ like in Forex

The first step you should take is to learn about cryptocurrency, or bitcoin. Don't rush to trade; fill your brain first before trading. It's easy to create an account on any exchange platform, and it's also easy to buy and sell the coins we want.

But what will you base it on when you sell crypto that you can buy? If you don't know how to chart a chart to do an analysis, you don't even know how to read a chart to determine if it's right to sell or buy crypto. Also, don't think of it as a gamble where you just guess when to sell and buy because that's not how trading is designed.

When someone decides to trade of course they must have a good understanding of trading and don't let them start trading by not having a good understanding of trading so that they lose their money in the trades they make, it would be better for someone who has just started trading. they try it with small capital while they continue to learn it and if they feel that the knowledge they have is sufficient then they can try it with large capital to be able to get bigger profits too.

There are many exchanges you can use to trade and I don't want to say specifically because maybe everyone has a more trusted exchange.
Once you get to know one of the exchanges that has a good reputation, you can trade, but before that you also have to learn how to trade well so as not to make a loss.
In terms of funds, you can adjust to your abilities and if you haven't mastered trading then try learning first and if you want to get involved in trading then try with a small budget first.

As I said and try to use a wallet that has a good reputation, even if the wallet is not the best. If you think the wallet can be used and has a good reputation then there's no harm in trying it.

Before starting trade you must have enough knowledge about trade. If you don't have knowledge about trade you will never get success in trading. Research the market well and start trading with small capital never use big capital in the beginning. Analysis methodology Some strategies can also be based on technical analysis fundamental analysis or a combination of both.

If you must start trading acquiring knowledge is the very first step you must take and then after the knowledge has been acquired, you have to spend some time to build this knowledge into a skill. If we cannot learn trading on your own there is no shame at all in paying another person to teach you, and as a matter of fact you may actually be doing better because the person who is teaching you will teach you both their experience and goes directly to the important things you need to know. You can learn trading on your own, but it may take you a longer time and while learning, there will be very many plenty experiences that could discourage you.

Don't use that trading ways for you to start, here in cryptocurrency you can start by buying trusted coins like Bitcoin and ethereum. Good amount will be okay like $100 could be better, hold your asset at spot trading and you can sell it once good price is hit.
At first long term trading is a good steps in learning, rather than putting your money at the fiat bank.

Trading is the same profession as a doctor, a teacher, and accordingly, before you start trading, you need to get enough knowledge that will allow you to make a profit in the future. So focus on learning, and the rest of the questions will be addressed in parallel.

You need to educate yourself first before diving in and take the time to learn about different trading strategies, market analysis techniques, and risk management.

The amount of money you need to begin trading depends on the type of securities you want to buy. Some brokerages set a minimum amount to begin trading or to unlock margin or options trading. However, you can technically start trading with $100 but it depends on what you are trying to trade and the strategy you are employing.

Choosing a wallet depends on your specific needs and the type of trading you’ll be doing. One of the best wallets for trading is Trust Wallet.

If this is from the forex, I believe that any strategy that you've developed or using there can be done also in the crypto market. But is this a both or a software?
If it's, I think that most of the exchanges won't be supporting that as there are other software that they're allowing to their API to connect but not with that.
I haven't heard someone did that but most likely it is not possible for you to use that with the crypto exchanges.

The first question is, are you sure? I mean, what is the purpose of you doing or entering trading? I know it's obvious that you want extra income or to earn a lot through trading, but I hope you know how risky and dangerous trading can be. I'm not trying to discourage you; I just want you to know the risks you will be taking.
 
Next is: do you have prior knowledge and skills in trading? Ok, maybe just some knowledge of trading? Because if not, then I would recommend that you gather more knowledge and tips about trading before initiating a trade, or as a good practice and experience while learning about trading, you can open a demo account on a trading platform so that you may execute what you have learned. It's up to you to polish your knowledge and skills in trading. There are a lot of resources out there on the internet; you just need to be patient and resourceful.
 
Lastly, train your emotions and mindset, because weak emotions and mindsets could affect your trade, especially if things are not going your way. For sure, at some point you will experience a loss and might commit more because you will let your emotions take over.

I'm still pretty new to crypto trading myself, so I get where you're coming from.  It can definitely be intimidating trying to wrap your head around it at first.  The decentralized nature of crypto makes it unlike anything else in traditional finance.  But once you start to understand the basics, it gets easier.

I spent a good amount of time reading guides and watching tutorials to familiarize myself with how crypto exchanges work the different order types, and general trading terminology.  I'd recommend doing the same - take it slow and make sure you really comprehend things before risking your capital. 

As far as platforms, I have primarily used Binance and KuCOin.  From my experience, most major crypto exchanges dont integrate with MetaTrader.  They have their own built-in trading interfaces that you'll need to get accustomed to.  The principles of trading remain largely the same but the tools and user experience vary across platforms.

The first step to take in trading is to gain knowledge and you can gain this from your personal research or in a training centre where they give beginners knowledge about training but your own personal research in getting knowledge of trading will really help you, because if you depend on what crypto tutors gives to you, you may likely go with wrong information without you knowing,  but when you also make your own research when you come across information that is misleading you will quickly know because you already have the knowledge.

Their is no specific amount of money you need to start up trading ,  you just need to use the amount that you can afford to lose. The most important thing is for you to just understand trading , when you get this understanding you would know the amount that will be best for you. Many people who don't understand trading thinks trading is all about starting with big amount of money .

Its a good step that we all should take, I am not talking about trading I am concerned about the fact that most people don't ask these questions and end up in the wrong hands. Well, I hope you and I will find good answers in this thread. From my side, I will say try to get more knowledge about trading at first because knowledge is power and you know the basics and advanced techniques to make funds. I will say first chose your trading type like swing, day trading etc. Then test on demo accounts or backtesting or paper trading. (source) From the source you can know more.

After testing your strategies you can start your trading session but keep in mind that always start with small and then move onto big. Its not necessary that you have to make profit and big profit all the time. Stop lose is your buddy to help you save money. Besides all that You can use any web3 wallet if it supports your token or coin. And meta trader is a good choice but if you are newbie then I will suggest to use centralized or decentralized exchanges instead of MT4 or MT5 as they are little tricky but can be used by a newbie and there is no doubt in that.

There are many articles out there for you to read and study before taking the first steps in trading. What is clear is that at least you know the basics of crypto trading and the risks. Don't be in a rush to invest large amounts of money because this will influence your mind to not focus on the basic things that must be understood. If you have learned several important points, try to start with a minimal amount, this aims to introduce you to the volatile market situation and is also useful for controlling your mentality to get used to it. With minimal capital, do as much as possible, loss or profit is normal, but from this process you can learn many important lessons to increase your knowledge about crypto trading.
Next regarding the choice of which exchange to use, it depends on suitability, the most important thing is that the exchange has a good reputation such as Binance, KuCoin, Mexc, Bitget etc. Or try to find out which local exchanges in your country support fiat deposits.

Save your capital first, don't focus too much on your initial trading capital. If you have capital, it's good to start. But what's better is to prepare your skills in trading. learn everything, you can get a lot of literacy to grow your trading skills.
Just a suggestion to avoid trading signal groups or watching influencer videos. you can go to binance exchange or some other big exchange. they have information for trading that you can read and learn from.

Most importantly, don't start your trading before you are ready with everything. with capabilities and risks.

Hmm, Op first of all you need to practice the discipline, then put some time into understanding market psychology and price action, after that arrange the amount from which you can take trades, in the learning time you can practice your trade with the demo funds, offered many platforms.

Make sure to learn common terminologies of trading so using those terminologies it will be easy for you to ask for help from seniors because each terminology explains a story behind it haha, just kidding it can just help you understand the suggestions given by seniors because we often use these terminologies, ask more questions so you can clarify your doubts.

Since you are a newbie and want to go into trading, only invest a small amount like $5–$10, and you will not feel so pained if the funds get liquidated. 

So many exchanges and broker have made things easy by adding a demo trading account, which enables new traders to practice how to trade and manage losses before going into real trading. So, depending on the exchange you want to start trading with, kindly check if they have a demo practice account, then practice how to combine some strategies in order to make profit with that practice account. After you have learned how to trade and make a profit, you can then invest a small amount. 

Trading is very risky compared to investing. You should be aware that crypto is a very volatile asset, and once the market goes against you, you can be liquidated, and all or half of your capital will be gone. So, you have to understand everything about trading properly before you can become successful. 

You can start with guide from Awesome crypto trading.

Choose open source non custodial wallet to use and try to avoid close source custodial wallet like exchanges.

Reminder: do not keep your money in online accounts

You can use TradingView.
https://www.tradingview.com/

Ranging from $10-$100 is enough to start and don't make huge trades. Start to learn with that amount and IMO that's going to give you the lesson you want to have as a starter, make sure that amount is affordable for you to lose.

What are you going to trade?

Assuming you don't have a wallet yet, you go directly to the exchange and buy there with your fiat.

Exploring various educational platforms can provide you with a comprehensive understanding of trading strategies, risk-reward techniques, and market principles. In addition to BabyPips education platform, consider exploring other reputable sources such as Investopedia and TradingView. Remember, mastering trading requires dedication, continuous learning, and practical application of knowledge, long hours of screen time etc. BTW, so many forex brokers offer crypto pairs for leveraged trading, you can pick any broker offering MetaTrader or Ctrader whichever suits your trading style.

AFAIK, MT4 is a forex trading tool. I use this before when I’m still trading forex but I’m not sure if they are now offering crypto trading.

I suggest to use hardware wallet such as Trezor since it supports multiple currencies including Bitcoin since most of the mobile wallets doesn’t support Bitcoin and other altcoin blockchain at the same time.

For exchange, Use Binance because it’s user friendly and high trading volume. You can use tradingview for your technical analysis since it provides better indicators and other trading tools.

Try to start with a demo account first if you are trained and have a basis you can do to the actual trading, because to start a beginner it will take a lot of time until you have good enough skills in trading.

The question of capital depends on you, but a little advice is not too much capital if you are not proficient because it is certain that a beginner will experience a loss so use a small capital, if you feel good enough you can increase the capital.

Do you want to trade on CEX or DEX? If CEX choose a reputable exchange such as Binance, Bybit and some others.
If DEX then use the metamask wallet.

there are forex brokers that actually have Bitcoin included in their meta-trader versions. assuming you already are into forex then it will not be difficult for you to also trade in crypto as they are all just currencies.

most of us here in crypto though are using tradingview which you can also have an account by just signing up. the indicators in meta trader are no different from those in Tradingview which you will have no problem reading the charts. since you are already are trading using meta trader, i guess there is no explanation needed for them. i assume you will also be in futures market?

You have to start first by doing your research. You can do this research by reading  articles on crypto trading, watch crypto trading videos, follow to genuine influencers with proof of trading performance to know what the crypto trading market is all about. Because you cannot just jump into live trading without knowing the basics, therefore you should spend some good time learning about technical and fundamental analysis, learn about risk management, support and resistance and the likes of it. After this, you can now start with demo trading which is basically practicing. Do not stay in demo mode for too long because the real learning where you master your skills and learn about the psychology of trading will come in the live trading environment. And even before then, you should start with small capital and aim to increase it. It is during this time that you get to develop a trading strategy that works for you. I do not advise you to trade every day, rather let your targets guide you. Your target should be a SMART one.  

You can use an exchange wallet - Binance, Kucoin, Bybit and any other one of your choice.

Good day guys!
As someone who’s new to this space and wants to start trading, what are the steps I can take to start and how much of fund do I need to start?.
What wallet is best for me? Can I use meta trader?