Topic: How to start trading alt coins? Beginner Tips! - page 7. (Read 8792 times)

How to trade? Just get right into to! Your experience will be more valuable than any technical analysis in the long run. That is not to say that you should not learn technicalities of trade!  If the fundamentals of any coin is good, you csn short ir long! Just trade. Cavert! Trade with what you can afford to lose!

Trading beginner tips!

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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!

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This is a really good list of tips. You should create a website for information like this so the real beginners can find it. BitcoinTalk is not really a place most beginners know about.

Nice list of tips. Very informative. I am also planning to do some trading, and this is what I'm looking for in order to start. Kudos to OP.

As i am a newbie will advice or share my experience that you should avoid dumping of coins and do not join paid groups. Do not instantly sell your coins that will lead you to get some loss if you are doing this without any expert advice. You should first take a proper advice from experienced one and they you can go furture; This will help you to gain profit in future.

Thank you for the tips, and especially thank you for mentioning about Bittrex. I already opened an account there some time ago but never deposited. I am glad I did a bit more research here before going ahead to deposit now I am ready to trade. Strange that it doesn't say anything on my account there, though.

2 things not to do are - 1- Please stay away from the shills at twitter. Almost 95% of the so called OG's are there to dump their own bags on you. 2. Do not join any of the paid groups. Most of the information that is required to be successful in crypto is available for free, please do not pay half or even 1 btc to do that.

Nice list of tips. Very informative. I am also planning to do some trading, and this is what I'm looking for in order to start. Kudos to OP.

Nice tip and to add to what you have said I think to succeed in trading one needs to develop his skills to buy low and sell high and candlesticks formation. We are living at the age when information is almost free online and one needs to read several times and materials before venturing into altcoins trading.

These tips will be of great benefit to me.But I think it is very important to control emotions.Holding can be the most profitable.always select good coins.