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!Oh Thanks for this, I laready talked to someone who trades not on coins but on stock ( Stock trading) and we talked about the techniques he is currently using and that is what he called benchmarking, Buy Low Sell High, it needed time and effort, monitoring the changes in price is really needed.
In this technique you should have a percentage of profit rate example here is 50%
For example you bought Stock A @ 1.00 and the price got higher Stock A became @ 1.50 , Sell your stocks, if the price got lower you should buy again at @1.00 or lower than that or lower than 1.50 and sell it higher than 1.50 and so on.
He told me that this is really hard to do but if you will practice it and apply it to cryptocurrency i might have a bigger chance of gaining 100%++ of profit.
