How To Go About Crypto Trading For Newbies. - page 2.

otundebis

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Quote from: Abike007 on August 31, 2021, 08:05:03 AM

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

Trading Cryptocurrency is a very risky, you will lose and if you do not have the skills and character to hold your position, considering the position is good, you may even lose further! My advice is to get started right a way with a little money to test the water. Learn everything that can help you with trading, and with time. You will begin to get hold of trading in to profit that will amaze you!

el kaka22

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The simplest method is obvious, you need to watch youtube videos to become good at trading, but you will not be getting good at it just yet, you will learn how the good ones are doing. If you like to read then read, if you like to watch then watch, if you like to listen then listen because all kinds of studying is available for people who learn anyway they feel comfortable with.

After you "learn" how they do it, then you open a demo account somewhere to test for free, and you start to trade according to what you learned, if there is a big loss somewhere you go back to your learning and see what you did and what you should have done and what's wrong, sometimes nothing is wrong and you were just unlucky but still check it and learn from the mistake. When you do all of these for a while, then you can start with small amounts and depending on your results could grow bigger and bigger. Simple as that.

Cherylstar86

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Quote from: EdenHazard on September 04, 2021, 05:57:46 PM

Quote from: nelson4lov on September 04, 2021, 05:42:34 PM

Quote from: Abike007 on August 31, 2021, 08:05:03 AM

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

I have a lot of friends and people that have approached me either saying they have some amount of money to start with or asking me how much capital they need to get started (the minimum). I tell them the same thing every time ~ that they need to get acquainted with crypto first before getting their hands dirty with investing or trading or whatever they want to get their hands on. They might get lucky as newbies and would easily lose those profits if they don't have some crypto fundamentals up their sleeves. For someone just getting started, I recommend:

1. First deciding what you want to be - A trader / investor, etc. But I'll be focusing on trading instead of investing (a la trading board)

2. For trading, it's best to explore trading resources available:

Babypips.com
YouTube

These are some of the best trading resources I've found that can help anyone get started in crypto trading.

+1
Whether you are going into investing or trading .. you have to upgrade yourself.

get yourself educated through a lot of well known sources , to be specificly there is countless resources on youtube but most of them arent really well explained and experienced , could be just a random knowledge and full of specualtion .
youtube is a great educational resources if you prefer to not reading books through Grin

, as books always better for me.

after you have acquired a little knowledge then you can go into practice and the more often you doing it the more skills you'll get in each passing day.

Indeed. Knowledge is very important in trading. Once you start trading you need to have the capital. Always remember that trading is not that easy, it is too risky and you can't guarantee a return, you might lose your initial capital for trading. If you want to trade, you should need to be prepared, learn the basic, you are able to manage risk and study more or should I say do a lot of research about trading or ask advices to those veteran who experienced a lot in trading so you'll not end up wasting everything you have.

EdenHazard

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Quote from: nelson4lov on September 04, 2021, 05:42:34 PM

Quote from: Abike007 on August 31, 2021, 08:05:03 AM

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

I have a lot of friends and people that have approached me either saying they have some amount of money to start with or asking me how much capital they need to get started (the minimum). I tell them the same thing every time ~ that they need to get acquainted with crypto first before getting their hands dirty with investing or trading or whatever they want to get their hands on. They might get lucky as newbies and would easily lose those profits if they don't have some crypto fundamentals up their sleeves. For someone just getting started, I recommend:

1. First deciding what you want to be - A trader / investor, etc. But I'll be focusing on trading instead of investing (a la trading board)

2. For trading, it's best to explore trading resources available:

Babypips.com
YouTube

These are some of the best trading resources I've found that can help anyone get started in crypto trading.

+1
Whether you are going into investing or trading .. you have to upgrade yourself.

get yourself educated through a lot of well known sources , to be specificly there is countless resources on youtube but most of them arent really well explained and experienced , could be just a random knowledge and full of specualtion .
youtube is a great educational resources if you prefer to not reading books through Grin

, as books always better for me.

after you have acquired a little knowledge then you can go into practice and the more often you doing it the more skills you'll get in each passing day.

nelson4lov

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Top Crypto Casino

Quote from: Abike007 on August 31, 2021, 08:05:03 AM

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

I have a lot of friends and people that have approached me either saying they have some amount of money to start with or asking me how much capital they need to get started (the minimum). I tell them the same thing every time ~ that they need to get acquainted with crypto first before getting their hands dirty with investing or trading or whatever they want to get their hands on. They might get lucky as newbies and would easily lose those profits if they don't have some crypto fundamentals up their sleeves. For someone just getting started, I recommend:

1. First deciding what you want to be - A trader / investor, etc. But I'll be focusing on trading instead of investing (a la trading board)

2. For trading, it's best to explore trading resources available:

Babypips.com
YouTube

These are some of the best trading resources I've found that can help anyone get started in crypto trading.

Silberman

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Quote from: Shenzou on September 01, 2021, 05:11:54 PM

Quote from: Abike007 on August 31, 2021, 08:05:03 AM

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

The best way is obviously to make a lot of research and get as much information about where to invest and how to do it and and in which coins you should be putting your money into depending on how much capital you have and of course the best way to get about doing that is to explore different threads and topics on this forum to get people's ideas and opinions about different things .

And while this is the logical and correct thing to do, how many newbies actually take the time to do something like this? Very few, most newbies come to the market only thinking on the profits they are going to make, but they never think on how are they going to get there? After all profits are not going to appear out of nowhere in your account, the only way to do so is by being able to predict with more accuracy what the market is going to do, something that is only possible for the ones that study the markets.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Abike007 on August 31, 2021, 08:05:03 AM

I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

Newbies should not start trading right away.

In coming to crypto, one must first learn how to secure their wallets and keeping their coins secure. This will prevent a lot of problems in later on when they are actively trading.

Once that is done, they should start with reading charts and learning how market movements occur and see if they are able to predict movements. This is where dummy trading comes into play like some other members have suggested. Without having done that for at least half a year one can end up making the most horrible mistakes that every newbie does in the real field. If you make those mistakes on paper, you will learn quickly.

Capital is in my opinion not an important constraint. If you are a bitcoin trader, your capital does not change much. It starts making sense to allocate capital only when you are into shitcoin trading and newbies should defenitely not do that.

jaberwock

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Quote from: Abike007 on August 31, 2021, 08:05:03 AM

I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

If you have enough capital to start your trading, it’s a good thing because about fifty percent of your problem has been solved in this case. So, the next thing you have to do is to learn trading. When it comes to this, you have to take your time and learn it, because if you don’t learn it you’re going to be losing that capital and it is of no use. So, when you have that capital you have to learn how to trade and after you have learnt how to trade, the next thing has to be looking for a good trading platform, and I think Binance is a good platform to start with, it’s a big platform and there are lots of things you can do on their platform.

Kittygalore

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Quote from: ?? on ??

Mastering trading with the basics first before continuing to trade. There are many articles, journals, videos that can be searched easily. At least have an idea how to determine the right crypto based on a pretty good prospect. Sets 10 CoinMarketCap ratings or up to 100. Use 50% for trading and 50% for long term trades. Because that way you can find out the difference in profits and the difference between the two.

Why not read and take in information first before getting into trading, experience can always wait. Remember that when you just get in without thinking, you will always end up with nothing but losses which is the biggest mistake. Also, try to practice with paper trading instead of getting in with the real trading, try the risk free ones.

geegaw

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Quote from: bandungan on September 02, 2021, 09:46:07 AM

Quote from: Abike007 on August 31, 2021, 08:05:03 AM

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

for newbies the most important thing is to use small capital. then you can look for trading tutorials on youtube or on this forum and look for a lot of information. learn to trade with small money because you are a beginner don't be afraid to lose, because that's part of a success.
the first thing you do is pick a coin, buy it at the lowest possible price and sell fast when the price is high, do it continuously. it is a classic trading technique, simple and easy to do for newbie

No, even starting with small resources and sticking to the slightest loss and fear, we should still have a shaky response and think deeply about it, don't be subjective with this spice when the first habit can become ingrained in the next path, need to be afraid of loss and start to be more confident about winning, newbie is in need of such interwoven inner thoughts to cover more about the trading career. Don't know where to start, let's start here, the topic here is very comprehensive

bandungan

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Quote from: Abike007 on August 31, 2021, 08:05:03 AM

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

for newbies the most important thing is to use small capital. then you can look for trading tutorials on youtube or on this forum and look for a lot of information. learn to trade with small money because you are a beginner don't be afraid to lose, because that's part of a success.
the first thing you do is pick a coin, buy it at the lowest possible price and sell fast when the price is high, do it continuously. it is a classic trading technique, simple and easy to do for newbie

Shenzou

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Quote from: Abike007 on August 31, 2021, 08:05:03 AM

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

The best way is obviously to make a lot of research and get as much information about where to invest and how to do it and and in which coins you should be putting your money into depending on how much capital you have and of course the best way to get about doing that is to explore different threads and topics on this forum to get people's ideas and opinions about different things .

Silberman

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Quote from: Abike007 on August 31, 2021, 08:05:03 AM

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

Then they need to get that money out of those accounts because then they are going to be tempted to begin trading without the necessary knowledge, I know the temptation is huge and many may think they could miss their opportunity if they do not begin to trade the markets now but the market is going to be here for a very long time so there is not need to hurry yourself, take your time, read a few books and test a few strategies, this will be more than enough to keep you occupied for months, but if you are serious about trading then you must do it.

adzino

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Quote from: Abike007 on August 31, 2021, 08:05:03 AM

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

Just having money/capital doesn't mean that you can start investing right away. You will need to learn first. Try to understand the market. See how it works. Learn to read the charts and signals. Next you need to get familiar with the platform where you will be trading. Once you get used to it, start trading slowly. Don't go all in on your first trade. Do small trades. You will be making a lot of mistakes. Learn from those and eventually you will get good with it.

AakZaki

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zknodes.org

Frequently asked questions. I don't know how many questions like this arise.
Before creating a thread you should search first and you will find the answer.

Beginners have a big risk if they trade without knowing the basic knowledge of trading. before trading you must study it first. If you don't have capital, look for capital to trade by participating in airdrops and the like.
I've been in a beginner's position and it was full of struggles and I had to keep learning.

Emitdama

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Quote from: tranthidung on September 01, 2021, 08:44:46 AM

Newbie mistakes when trying to increase the deposit
Why is it a waste of time and money to buy ready-made trading strategies?
[GUIDE] Who are Professional Traders?
Averaging. Helper or Enemy?
Stop-loss order, one of the Best Weapons in Trading. Combine it with Stop-limit orders
[BIG LIST] Crypto Trading Bots. Trading bots are not for newbies because "Garbage in, garbage out". Bot can not turn your garbage trading algorithms into profits.

To sum up, my advice for newbies: Let's start off with hodling and after they earn profit (x2, x5, whatever), let's use only 10% of profit for trading. For the rest, let's keep it for investment, hodling again.

That's a good list to give to newbies, I shall save that for the next time a newbie asks about it. I have to say that personally I believe that we should not be trading at all when we first start, because it takes time to find a lot of good coins to invest into, you could always buy bitcoin and just hold that but the diversification is required for greater profit which means that you need to find more, and if you pick like let's say 10 coins to invest into, then it is going to take a lot of time for you to be able to pick that 10 out of thousands of coins in existence.

This is why for your first few months you should not trade at all, pick good coins and have long term investments on them, and learn how to trade meanwhile, there are thousands of sources to find how to trade and learn some of them. This will result with a great return in the long run.

Ararbermas

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Quote from: Abike007 on August 31, 2021, 08:05:03 AM

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

before you think about it must educate your self first how you can handle the situation in trading..because when it comes capital you can provide for it immediately, but skills and knowledge it will take too long to obtain especially for newbies.. So if you're planning to enter trading then you should priority the skills and knowledge before the capital because that's the most important to have a safe journey in trading..

palle11

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Quote from: Questat on September 01, 2021, 09:46:45 AM

Quote from: Abike007 on August 31, 2021, 08:05:03 AM

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

it is our responsibility and a must to familiarize the thing we planned to for as this was only the way it gives us assurance that we are able to reach our goal.

Yes most people who want to earn money from trading or hodling don't have passion for it which makes many to rely on copy trading.. And regarding trading, it has to do with alot of passion to succeed on to it. It is not easy to make money just as you thinking trading is for quick money, sorry it is not. It is for people who are ready to learn the ropes, people who are already standing back on their feet before they even touch down.

Op you didn't really mention if capital was the challenge or learning how to do the trading. IMO learning how to do the trading is far more important than capital. Put your mind on learning, starting small but ready to lose and ready to get in back until you learn the rope. Those times you lose are meant for you to make corrections and move ahead to be better.

Questat

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Quote from: Abike007 on August 31, 2021, 08:05:03 AM

Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

In that case, I suggest for them not to try to invest in crypto as this will only bring them losses. Failure comes after being stupid, like if we wanted to make a thing we should also have to make searches how it works and how it was done. In general, it is our responsibility and a must to familiarize the thing we planned to for as this was only the way it gives us assurance that we are able to reach our goal.

tranthidung

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Farewell o_e_l_e_o

Newbie mistakes when trying to increase the deposit
Why is it a waste of time and money to buy ready-made trading strategies?
[GUIDE] Who are Professional Traders?
Averaging. Helper or Enemy?
Stop-loss order, one of the Best Weapons in Trading. Combine it with Stop-limit orders
[BIG LIST] Crypto Trading Bots. Trading bots are not for newbies because "Garbage in, garbage out". Bot can not turn your garbage trading algorithms into profits.

To sum up, my advice for newbies: Let's start off with hodling and after they earn profit (x2, x5, whatever), let's use only 10% of profit for trading. For the rest, let's keep it for investment, hodling again.

Topic: How To Go About Crypto Trading For Newbies. - page 2. (Read 503 times)