Topic: How to start trading alt coins? Beginner Tips! - page 2. (Read 8792 times)

I agree to this. When i started my friend told me to make sure to set a target. Target profit that will make you say you're ok with the gains minus the fees. If you don't know your target you might get lost in the game of trading

Another great tips is to not get greedy

Set your target before buying and stick to it

You are welcome. I am just trying to help people. I was alone in crypto world for years and i have no one to relay too. Until recently where i happen to find my local country crypto telegram group and since then, i manage to know friends and they are very friendly to provide with a lot of information and discussions. I do hope that i help you too.

First of all you need to chose a good trusted exchanger platform that has no negative reputation. Bittrex,cryptopia and liqui are some of them.you can start trading with small amount of bitcoin. its not problem.first try to trade with small amount then slowly try to add more money.good luck.

Also choose a trading platform which has a good reputation in the cryptoworld.
There is no point to spend hours in trading if in the end, you get stuck when you want to withdraw your coins.
A few month ago, it took me 27 days to withdraw some btc's from a trading platform!

Trading beginner tips!

( Brought to you by Licensium & Trusted Nodes team members https://bitcointalksearch.org/topic/pre-sale-started-licensing-monetizing-l-i-c-e-n-s-i-u-m-buy-now-2129844)

1. Regularly read Bitcointalk forum
2. Check coinmarketcap.com for current real coin values
3. Check coinmarketcap.com history of coin you are interested in
4. Check the ANN thread of the coin on Bitcointalk
5. Many coins have their own blogs/ forums you need to follow to be up to date
6. At start choose coins that are already established and stable
7. Make yourself a portfolio of 3 - 5 coins for start
8. Do not jump in ongoing coin pumps, you never know when it will dump.
9. Make yourself a strategy for coins you will long term invest and maybe 2 gamble coins that are more risky but offer higher profit.
10. I recommend starting with Bittrex I cannot recommend Bittrex anymore because they need to verify your IDENTITY in order to let you withdraw BTC and alt coins.
11. Do not instantly sell your coins if they dumb instantly for no obvious reason ( research why)
12. At the beginning its better to aim for small profits like 5% - 10% +
13. Always keep some BTC to react when needed (buy)
14. Start slowly, take your time. 2 month in research and observation is recommended.
15. Always reinvest a share of your profit in your favorite coins and use a share of profit to gamble
16. Do not jump instant in new coins with big investment. If it looks promising to you start low and follow the progress.
17. If you advance and make good experience you could start to invest in icos, but watch out lots of scam around.
18. Pull out some % in USD from your profit from time to time.
19. Control your emotions when the prices is going up or down.


* Additional Tips from community members:

20. Never be emotional in your trading. Be objective! (thx to @Investor for the tip)
21. I also advice that when you already developed a good trading strategy, you stick into it and keep your discipline  (thx to bamboylee for this tip)



Good luck!

Would appreciate to add more tips to the list to give some valued info to beginners!

Thanks for clearing that up, and for fast response. You definitely know what you are talking about. 

Trading beginner tips!

( Brought to you by Licensium & Trusted Nodes team members https://bitcointalksearch.org/topic/pre-sale-started-licensing-monetizing-l-i-c-e-n-s-i-u-m-buy-now-2129844)

1. Regularly read Bitcointalk forum
2. Check coinmarketcap.com for current real coin values
3. Check coinmarketcap.com history of coin you are interested in
4. Check the ANN thread of the coin on Bitcointalk
5. Many coins have their own blogs/ forums you need to follow to be up to date
6. At start choose coins that are already established and stable
7. Make yourself a portfolio of 3 - 5 coins for start
8. Do not jump in ongoing coin pumps, you never know when it will dump.
9. Make yourself a strategy for coins you will long term invest and maybe 2 gamble coins that are more risky but offer higher profit.
10. I recommend starting with Bittrex I cannot recommend Bittrex anymore because they need to verify your IDENTITY in order to let you withdraw BTC and alt coins.
11. Do not instantly sell your coins if they dumb instantly for no obvious reason ( research why)
12. At the beginning its better to aim for small profits like 5% - 10% +
13. Always keep some BTC to react when needed (buy)
14. Start slowly, take your time. 2 month in research and observation is recommended.
15. Always reinvest a share of your profit in your favorite coins and use a share of profit to gamble
16. Do not jump instant in new coins with big investment. If it looks promising to you start low and follow the progress.
17. If you advance and make good experience you could start to invest in icos, but watch out lots of scam around.
18. Pull out some % in USD from your profit from time to time.
19. Control your emotions when the prices is going up or down.


* Additional Tips from community members:

20. Never be emotional in your trading. Be objective! (thx to @Investor for the tip)
21. I also advice that when you already developed a good trading strategy, you stick into it and keep your discipline  (thx to bamboylee for this tip)



Good luck!

Would appreciate to add more tips to the list to give some valued info to beginners!

Bittrex is definitely one of the best exchange out there. However, recently it has been suspending accounts without giving any explanation and the irritating wallet maintenance. However, it has the greatest volume/trade and that is the most important to trading. Right now, bittrex still have the highest customer base but a lot of exchanges are catching up. 

Can someone explain why Bittrex is bad?
I am using it and I don't see why you don't recommend it?
I tried to register on Poloniex and needed to verify IDENTITY in order to let me trade but Bittrex I didn't need to do that to trade and to withdraw...

I am new to this world of cryptocurrency and mabey I missing something...

P.S.
I found it useful, nice simple list of tips for beginners. Thanks for that and keep it up.