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

Right now is a bit of a difficult spot to start for a newbie, I would say wait until the dust settles so that you could start trading properly. After all crypto is not something known to be calm and collected, it is a volatile thing but right now it is even more than usual. If you see bitcoin price being within 10% for a whole week, then it is time to buy, doesn't matter if it falls or goes up, if it is stable that is all we want. After that you can start trading, of course there are million things to learn about it, but the simple one is when the price crashes like it did recently, then you should buy, and when it goes up more than 20% then you should sell. Keep doing that because it happens many times a year and that will be your whole profit.

First of all before the start of your trading, you need to have a capital in your account whether you want to start with a small capital or with a big capital. It depends upon you but if you are not that much best trader and didn't have much knowledge about the trading. As trading needs constant attention and concentration of every individual.

Everyone knows that trading need capital whether some people start with small capital or other people start their trading with having a big capital. But the main thing in trading is your strategies or a trader's strategies. So, it would be important for every newbie to start with a small capital and gain his potential.

every crypto does have its own market, especially for new projects which are still difficult to analyze, and in crypto it cannot be separated from price manipulation, coins that have a low market capitalization will certainly be easily manipulated by whales, or even the developers themselves. therefore trading on a large market capitalization, will give us security from price manipulation

There are many articles and videos out there for trading tutorials if you really want to learn on how to trade, you just need to exert some effort to find it. Learn the basics from the wallet to use, choosing an exchange and the coins that you're going to invest in. Fill your mind with knowledge because that's a way to better understand trading and the risk associated with it. Either trading or investing, remember to timing the market for best result.

Crypto is a different market. Each alt has their own market performance, this is why it becomes too difficult for beginners because each coin has their own market trend, some may follow btc performance but most of the time some are not. For small market cap coins, usually, the market performance depends on what the dev team is doing to their project, are they developing to its full potential or just after for the money that they will get from buyers?

Newbies shouldn't risk their funds when the don't have the knowledge yet. Capital is a big factor in the Crypto business but knowledge is a prerequisite and an indispensable toolkit to make it in the business.

From experience even long standing investors, traders and speculators lose huge funds in the business this is just to point out that capital isn't just enough to make it in crypto the knowledge will help reduce your losses and will help point out when and how to avoid further loss

To this I will add that you need to verify the nature of the information that you are receiving, I say this because nowadays anyone can open a YouTube channel about trading and talk about all kind of strategies that you can implement in the markets and you can easily see they do not know what they are talking about, but this only becomes obvious once you know how to trade, so there are a lot of newbies learning from videos that are given completely mistaken information and they have no way to know this is the case until it is too late.

Learn the basics/fundamentals first, practice your way to trading to gain experience in the field through paper trading, take your time when it comes to learning and gaining experience with trading because you need all the knowledge and experience you can get when you get into the real deal.

Newbies entering the field of cryptocurrency should not rush to trade, first learn a lot of knowledge about cryptocurrency. There are many threads and topics about cryptocurrency trading on this forum, and you can search for things you want to know. Study and learn to choose safe exchanges and the errors that many investors are prone to when investing and trading. According to market trends and indicator analysis, develop suitable investment strategies to avoid more problems in subsequent transactions.
For Newbies, short-term transactions have greater risks. Diversified investment and long-term investment in Bitcoin are good investment strategies.

Don't get excited to know to trade as it will surprise you how hard it was. Mind for you to go for holding first and while doing that you can make some searches about trading, then if you have enough knowledge and capital, it could be the time to start learning about trading. You don't need to rush yourselves in this volatile market because the more you are doing this the more you will fail. It should be one step at a time and keep your decision be smart as possible.

For newbies who had no proper idea, always let them be aware that trading needs capital. It serves as their investment on purchasing potential coins which soon  reach a profitable value in the marketplace.
This isn't easy for us to guide the nobs, so it's better to educate them the basics about trading same with how you learn from the start. Taking small amount as capital would be good for them to begin trading.

this preparation will safe our money from market shaking that often happen in crypto market now. withour good preparation in trading skills and money management ,its impossible for us to survive in market. Money or capital should be second number, as long as we have good trading skill our small capital could be huge if we prepare all of this.

i do agree , we should not satisfied with our knowledge and skill. always act as empty glass so we could earn more knowledge from market. more knowledge we have bigger possibility for us to be success in crypto trading.

It's like an empty glass, we just need to fill it. if you want to trade make sure that we also have knowledge in it because trading without knowledge is just useless. trading will be risky for new people, therefore be more careful and also increase knowledge about trading. if you are not sure about it, it's better not to start trading because it will only make our minds blocked in it. so it does require confidence and also caution to be able to trade well, it is necessary to practice also so that we can learn to observe the market well.

if they have capital then why make it a hard issue when they can easily invest In bitcoin as starter investment?
because you used the word "They have capital" meaning they are ready to invest so why choose other option when bitcoin is the safest?
never dare chasing profit in altcoins when you still have no big knowledge in crypto , because only bitcoin is the safest of all.

Almost all the important things a newbie should do when starting crypto trading have you mentioned. So I'll just add a little, for newbies don't
rely on other people's signals in crypto trading. Because the signals given by other people are not necessarily accurate and what scares others is
just using newbies to make pump and dump. Always do your own research and analysis, no matter what must believe in ourselves in the crypto world.
Another thing, maybe as a newbie, don't be in a hurry to make a big profit, take a small profit first.

If you are a newbie then you must follow these basic principles.
First of all never invest big amount without starting with small.
If possible at first learn about the basics of trading.
After gaining enough confidence, choose the best coin.
Invest as much as you can afford to lose.
And most importantly learn from your investment mistakes.

I think first you should go for the trading site like Tradingview for understanding the basic graph of the crypto 

Better not go about it instead pick interest In a perfect alternative which is investing. I don't have to go about comparing how better investing is to trading but just to give you some ideas. The success stories in the space has alot to do with investing then trading although that doesn't mean you can't achieve success from trading but the chances are minimum as 90% of the traders loss, just a minority actually become successful from trading.

Just having capital isn't what it takes to become successful at trading as you'll be required to undergo some lessons to perfect the skill. If I was in a position to advice you, I'll recommend you Invest through dollar cost averaging as this strategy helps in the long run. You don't have to worry about the volatility of the market as if the market was to dip, you have funds waiting on such opportunity to take advantage of.

Why use any money if you can trade with a demo account for free? That's what I advise..

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!

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.

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.

+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    , 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.

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.

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.

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.

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.

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.

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

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

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 .

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.

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.

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.

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.

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..

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.

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.

• 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.

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.