Topic: How To Go About Crypto Trading For Newbies. - page 3. (Read 452 times)

Hello, welcome to the forum. There are a lot of tutorials and articles that will teach you how to start trading. Do not invest yet, invest and learn more in knowledge about crypto and how to trade.
This is a good guide and start for you: https://www.binance.com/ph/blog/421499824684901872/how-to-get-started-in-crypto-trading

If trading is what is in mind (as opposed to purchasing and holding), then there are a bunch of platforms that provide a demo access to mess around and get the hang of it, many of which are summarized here: (LIST) Demo Trading Platforms.

Of course you’d need to do your homework first and learn the concepts and principal, otherwise the results are going to be even more lottery based than they already are …

If you don't have an idea on how to trade there are many threads here with the same question you can just use the search button.
Newbies should know how to search here on the forum there are many threads related to this topic.

Anyway, almost all suggested above are the same but they don't give you enough information on how to start.
I'll give you a link that I think will help you learn much about trading and I'm sure you won't need to invest to train your trading skill.

Here's the link below for a complete list of guides and tools for crypto trading.

- https://github.com/SpiralDevelopment/Awesome-Crypto-Trading

Then head to "Cryptocurrency trading" and both "fundamental and technical analysis" it would be a good start to learn about them.
After that, train your skill like other suggested above read the "Trading simulator" it should provide you enough tool under that link that you can use on the trading simulator and apply what you learn from trading.

Just don't forget the basic thing "Buy low and sell high" don't be greedy and always wait for the right time before you enter the market.

You have tons of resources on YouTube that will teach you about everything you need to know to start trading.
Some time ago I bookmarked this course by C0TT0NC4NDYTA. You can start with the beginner's course and move on to the advanced course after that. Make sure that you check out the rest of the content if you are serious about trading.  

The best way any newbie can start crypto trading is to first understand the market (the risky involved), the asset to choose from, the perfect entry and exit time but you must start from start investing not day trading.
After starting all this, you can take a crypto trading lesson where you learn how to read the chart and things that influence the price of the market. But you need to be careful when choosing class due to a lot of fake people out there and I will advise you to ask on this forum for the best class and online article you can read.

Do you have knowledge of trading? No rule is don’t invest in something you know nothing about. If you are good at trading then go ahead. For other newbies, trading is a very volatile business. You could lose all your money to trading don’t be fooled by the luxurious lifestyles portrayed on the internet that’s just a magician’s trick of illusion. Trading isn’t as easy as it looks maybe you should learn the hard way before you will agree with me. I believe hodling is the best strategy for a beginner, hodling is same as “trading” or rather a long term type of trading. Unlike the forex market crypto trading does not have a demo account. They are no redos once a trade is initiated. I’m afraid your post is misleading, many newbies are looking for an easy way to double their money they call it “investing” but they usually end up in one scam or the other.

A crucial recommendation and advice from me:
Try paper trading. I think there are even apps or websites allowing you to do that.

The idea is that you play with fake money, but treat it seriously, as if it was real. And then see how many hours you put into it and how much profit you were able to generate after 1 or multiple months.

Really, do your research, learn, watch videos, but use fake money for the first few months at least. That way you have 0 risk. And also you need no capital whatsoever. During that time, if you don't lose interest, you can save up money for a few months to build up some starting capital for when you will feel ready to play with your own real money.

Before that, just do a spreadsheet (or use a website that allows to do paper trades) and put in e.g. 10,000$ and write down each trade, like:

• 08/30/2021 | -1,000$ ~ +0.1BTC | profit 0$
• 08/31/2021 | +1,100$ ~ -0.1BTC | profit 100$

Or something like that. Check out guides and videos, there are probably better ways to structure your spreadsheet, but it's just to give you the idea what I mean with 'paper trading'.
Of course, the downside is that in case you get lucky in your first trades, you don't get anything since you just played with nonexistent / imaginary money, but in most cases you'll lose money if you start using real money right away. And you might not even have enough starting capital right now anyway.

Which one do you want to go for, you title suggest trading but your post suggest holding. Trading is riskier, if you can hold, it is not risky like trading, if you can be patient, you will see your bitcoin value increasing. But trading on the other hand is very different, you will need to learn about trading very well before you can start, beginners are the most vulnerable to loss, they lose money usually.

If you want to know how to trade, no one article that will help you, you will need to read three or more articles and watch videos. The basic you need to start with is spot trading, learn the trading order types

[Guide] - How to use different order types.

You need to find a good exchange for this, you can use Binance or Coinbase. There are many trading articles and videos you can get on binance.

I will strictly tell you again that trading is very risky, holding is better, but it remain you to decide. Even if you will start trading, use the amount of you can afford to lose, new traders do lose.

Are you asking about how to get started with daytrading or how to get started with investing?

If you want to get started with daytrading, know that you probably shouldn't. It's a great way to lose money. In a bull market you'll feel like a genius but are very likely to perform worse than the rest of the market, even ignoring fees. In a bear market you're likely to get rekt either way. If you're adamant about getting into daytrading, start by googling for trading strategies and start reading from there. Just be aware that a lot of technical indicators are about as reliable as Astrology.

If you're asking about how to start investing in cryptocurrencies you should really start with learning how to use wallets and keep your coins safe first. This will make you familiar with the technology and more importantly, this will enable you to safeguard your coins yourself once you've taken the leap.

Maybe newbies should not be trading.
Don't get me wrong, I understand that no one becomes perfect before their first trial, but you should be adequately prepared and know all or most of the theoretical aspect before venturing into the actual practice of trading.

• YouTube and course websites have lots of content for traders,
• There is also a trading discussion board here in the forum, look for useful tools that will be useful on your trading journey.
• Practice demo trading to get an idea of how trading is,
• Prepare yourself mentally

You really indeed need capital if you want to start trading. It's not easy, trading is risky too and you can't guarantee a return, you may lose your initial capital for trading.
That's why before doing a trade, you should be prepare, learn the basics, risk management, and study more, so you will not end up getting rekt.

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.