Topic: How to start Trading for newbie - page 21. (Read 2140 times)

As a new member I wanna help that how to do work as newbi member. please everybody helps me and newbi members too. thanks all

Knowledge of different coins, coin market and technical analysis are the fundamental for success in trading.After developing these, develop a trading plan based on investment term and return on investment. Finally you can trade.

I would search for guru ask him for some advice and then practice , practice and one more time practice.

There are many things you need to know about forex trading. Many people have already recommended sources of information.
My advice is simply not to hurry and be careful in trade, not as easy as most people think. Good luck  

Very easy, you read a lot, you eat a lot and you shit a lot - as result you will become pro. ^_^

You should definitely find a good guide on the Internet. There are many books about (stock) trading which will give you plenty of important information that might be useful even if cryptocurrency market is different. I haven't traded much but I hear a couple of important advice. Don't panic, many people tend to panic sell or panic buy (FOMO). Before investing you should read more about the altcoin you want to buy. Check if it's fully open-source, read the whitepaper and check if there aren't any similar or better project which could be more profitable.

i think better is newbie just learn trade .but don,t invest without any experience. because if you have no idea of trade .i am sure you losses your invest amount.so please wait and understand with trading and cryptocurrency.but in trade you can earn huge profit.

The main advice: do not rush! control psychology , supplement knowledge. wait wait wait and wait.

Hi OP,

Semi-newbie here. I've started trading about a week ago, every night, and sorry to say, reading about it and watching YouTube clips only goes as far as to familiarize you with the procedures, different tools and meanings etc. Nobody in their right mind can tell you what's going to happen, so even experienced traders who sometimes recognize certain patterns that can lead to spikes, will tell you that it can also go the other way at any given moment. It's a lottery more or less.

Here's what I've learned:

1. Don't count your $, only count the amount of crypto you earn/lose
2. 24h volume matters WAY less than 24h change - which is the exact opposite of what some of these YouTubers say. Looking at the 24h change is the best way to KNOW for a fact which coin is truly on a roll compared to either BTC, ETH or whatever. By dominating the exchange, those coins always offer the largest spikes.
3. If you're investing a considerable amount of money, as in thousands of $, always check the 1m mark on the exchange, as things can go south pretty quickly.
4. A spike doesn't always happen when you buy low. Some spikes follow small dips that follow other spikes. You need to look at the 24h change % (seeing it rise quickly means the price will rise along with it, in real time), and if you match that up with a candle over candle min by min progress, then odds are you should jump in.
5. As soon as you purchase, enter your whole amount in the SELL section and either keep your mouse coursor on the button or set a sell limit. Sometimes i prefer to wing it and do it myself, because volatile coins (which provide the highest and fastest spikes and also dips) can shift trend in a matter of seconds, and by the time you're done entering all those numbers like 0,000XXXX for STOP and another 0,000YYYY for Limit and then your whole amount, while keeping one eye on the prize, everything can already be going downwards. I find that it can take me as much as 10-15 seconds to set a limit, and in 15 seconds you can lose everything you've put in.
6. At the same time, don't panic too much if you see a red candle on a coin that's clearly moving upwards in terms of 24h change %. If this minute it's at 20% and the next at 25% and you suddenly have a big red candle next to all the green ones that have gathered - keep at it, it will probably (as in likely) keep going up.
7. Luck is also a factor, but to truly be successful you unfortunately need to dedicate a lot of time to it, as in a full work day of doing nothing but trading while eyeballing the screen like there's no tomorrow.
8. Follow multiple high 24h change % coins at the same time, you NEVER know when one might start spiking and you'll be kicking yourself for waiting on one coing while the other goes up behind your back.
9. Be a sniper most of the time. Don't get greedy. I know it's super hard, but if you're playing with a lot of money, just take a small % win and walk away, don't wait for the drop. A few % points of a couple of grand is a great haul, even on a daily basis. Do the math.
10. Use an APP - don't rely on the websites themselves. I once lost $150 on a trade in a matter of seconds because my browser froze and it actually took me half a min to get it to power up again and log back in and so on. It happened on Binance. That was the night i downloaded their app for Windows.

Cheers mate!

You must know first about the coins you want to buy and trade it the gain an income in a short period of time. How to monitor prices of coins in the market. Knowledge, experience and strategy is the most important in starting to do trading.

You need to do a research a lot of interesting and informative videos available at YouTube you can search them. And also you can ask questions about trading to the users in YouTube which i think that will be helpful to you.

I think the best way to start trading for me also a newbie is to learn first. Research what are the basic concept of trading, how to do's, what to do & dont's. It works for me, I know it'll work on you too. I hope this may help 

First and foremost, read a lot. Next, find a good exchange to convert your money into cryptocurrency. Keep in mind that you should only invest with money you can afford to lose. Since you're a beginner, then use a bit lower funds. Lastly, find a good trading platform. Remember that there is always risks to this kind of job.

as a newbie all you need to do before you start trading is to make sure you study and understand the most import aspect of crypto-currency and don't just rush in because you has the fund to start it, because you meant end up losing all the fund in just a seconds.

Before you start trading you must have knowledge about the crypto currency market, you have to research first. Learn how the market works, learn about the coins. Get to know more about the coins you will be investing in because trading is very risky.

This information will help me a lot as a beginner. Because trading process for a beginner of bitcoin will come out of more questions on how to do it effectively. I still find basic tips to understand much about trading.

You can start read articel or books and try with some research what you will trade and how you will trade it. Your plan should be so objective and concise that you could hand it over to another trader and they would be able to execute it exactly.

YouTube video tutorials are very helpful too, bitcoin trading video tutorials are very good for starters. there are lots of good trading videos on YouTube and all you have to do is take your time and learn from them.

Well we have a trading section for this you can go here and learn from those who succeed from trading, this is a good choice for you but prefer to have a lot of patient and ample time if you want to invest in trading, it's not going to be easy, emotional plays a huge factor on how you are going to succeed in trading

There are a lot of things you need to know if you want to start investing/trading in this kind of market. Any information that you could get from any reliable source (internet, books, videos, people, etc) will be very valuable in the path that you're taking. From my experience, it is best to get knowledge from those books that was published few years ago. I find it very informative and entertaining. The data that I gather from books also tends to linger much longer in my mind compared to other sources. In the end, it all depends on your personality and what is suitable for you as a learning experience.