How to start trading with 2 BTC? What is the first step? - page 6.

Polar91

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Quote from: 60BTC on November 10, 2019, 01:53:22 PM

So i have decided i will start trading with 2BTC first. I have read many people suggesting me to day trade and earn some good profit daily.
Let me tell you all, i have no experience in trading and it sound so difficult to me so please answer my questions
so how can i start and where can i start?
where to learn the basics? some good books?
how much profit can i expect daily in the beginning?
How to avoid major loss?
is there any professional traders that allow to follow their trades and they charge some fees for it?
Waiting for your answers Wink

Just to point out, it's too risky for your BTC2 to be traded specially you mentioned that you don't have any experience on it. For the first question, you can start trading on user friendly exchanges such as Binance. For the second question, the best way to learn it is via youtube tutorial, reading of books is an ideal if you know the basic concepts of trading already. For the third question, the expectation on your profit, isn't measureble as it would depends on the market condition anf your skills. For the firth question, you can avoid majore losses if you know how to apply the stop loss no matter what happen. For the last question, copyying someone's trade in crypto isn't available yet on the available exchanges for crypto. On the other hand it's available for forex and stock exchanges.

topbitcoin

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Quote from: 60BTC on November 10, 2019, 01:53:22 PM

So i have decided i will start trading with 2BTC first. I have read many people suggesting me to day trade and earn some good profit daily.
Let me tell you all, i have no experience in trading and it sound so difficult to me so please answer my questions
so how can i start and where can i start?
where to learn the basics? some good books?
how much profit can i expect daily in the beginning?
How to avoid major loss?
is there any professional traders that allow to follow their trades and they charge some fees for it?
Waiting for your answers Wink

Day trading with 2BTC as capital is good, at least with short profit you can earn much. But make sure you learn basic about trading first, you can find it on google how to trade in crypto market. And maybe if i have big capital, i will split it and then use it to trading and the rest to back up if something bad happen. For profit, maybe when i get profit although not much in percentage, i will take profit. Maybe it is risky when coin that you bought dumped after you buy, but at least you still have rest money that you already save to minimize your loss.

NathanJB

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Quote from: 60BTC on November 10, 2019, 01:53:22 PM

So i have decided i will start trading with 2BTC first. I have read many people suggesting me to day trade and earn some good profit daily.
Let me tell you all, i have no experience in trading and it sound so difficult to me so please answer my questions
so how can i start and where can i start?
where to learn the basics? some good books?
how much profit can i expect daily in the beginning?
How to avoid major loss?
is there any professional traders that allow to follow their trades and they charge some fees for it?
Waiting for your answers Wink

I'm sure other good posters here have given you enough ideas in their answers. I would only suggest that you should not be starting with 2 BTC for your trading. You have admitted that you have no experience and you did not even read the basics about trading. You should not even start with 0.1 BTC in this case. You are throwing away BTC. Actually, if I were you, I would not even trade it. I would rather HODL that 2 BTC and buy altcoins if I have money.

Lecam

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2 bitcoin is so big capital for trading if i were you maybe hold that bitcoin and wait for bitcoin price goes up or .5 bitcoin can be your capital in trading. But its up go to your decision and be confident for what you feel where you can put your money. But its better do not put your money in basket buy a good coins that you can hold and trade for a short and long time investment.

crossabdd

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That doesn't matter, but in my opinion, 2BTC is too big for those of you who don't have experience in starting trading. start with 0.5BTC to learn trade. I think you can trade on binance, bittrex, bitmex. You can learn graphics there. for profit, I suggest you take 2-5% only. for a loss. I can't give advice ... it's better to learn to understand price movements, patterns, RSI, EMA, and read a lot of news.

EdenHazard

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Quote from: clickerz on November 10, 2019, 08:00:14 PM

Quote from: EdenHazard on November 10, 2019, 06:42:23 PM

+1

You need to plan everything, set a target ... daily, weekly, monthly and yearly. Stick to that plan and be disciplined.

Minor loss is a must so you can learn something what's wrong from it and fixed everything ASAP. let it flow don't trade feel like under any pressure , do it patiently as time goes by you'll gained experience and that time you are good to go to set higher profit target and so on. The most important part is to not use all the money you have , save it for the unexpected scheme.

Discipline is important here. Just rade on major coins so that it wot easily dump. Be patient always, and check your position from time to time. Hopefully, OP is ready for trading, I mean armed with research, knowledge on TA or trading tools, etc for better decision making.

You shouldn't wait to trade until you ready , just do it and learn from mistakes later on.

I would tend to agree that trading on a well known altcoins to minimize risk getting a hyper volatile is the most friendly one. For me experience is the best teacher.. rather than learn the theory first . I prefer go out try every single possibility and then learn the theories like how to prevent A , how to get B , how to analyze C etc.
No better feeling than fixed your mistakes and turn it into profit!

liuqi

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Hey please don't do that and if you want to invest to Bitcoins to something please look for the the good and stable investment return plan in your country.
if you invest such a big amount on trading platform you need to face the situation like losing fund are making profit it is usually based on your luck only but in your country e with the good good Government bonds and shares you can get better returns.

inthelongrun

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The first step is to arm yourself with basic trading. Any basic trading books will do. You can even study all basic trading thru the internet for free. There are too many videos available in youtube. Reading materials are also ample online.

I find it boring when studying on videos and reading materials so it is also good that at the same time you already have an account in any reliable exchanges like Binance. Deposit a small amount like $10 to make it more exciting. You base your gains thru percentage.

Earning regularly in trading is never an easy task. It takes experience to mold a strategy that fits to you. Some people learned fast because they spent more time daily with some sleepless nights.

cryptoangel

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Quote from: andycarrol on November 11, 2019, 02:05:41 AM

in the beginning, it is better to try with a small amount when you have no basic trading because I have a bad experience with losing a lot of money because it does not have basic trading when I just followed some of my friends who do daily trading. quite a lot of shitcoin, and you have to be careful before buying it, and most importantly not greedy, self-control, because this often makes us lose a lot of money in trading.

Obviously small scale trading is good for new investors. But we have stablecoins in crypto market so we can hold our total investment in USDT and choose some desire project is good. I suggest Bitcoin also best coin in cryptomarket so they hold long term seriously it will going to moon.

ReiMomo

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I had been sharing this article with the other thread asking what is the guide for the new traders, here it is. https://www.mycryptopedia.com/the-ultimate-beginners-guide-to-trading-cryptocurrency/

Don't invest your 2 bitcoin in one exchange, just split it and invest the half on it and hold for long time purposes. Find a hardware wallet where to keep your Bitcoin safe. The other half is just starting to trade and if you have been fully knowledgeable in trading then, you are good to go. As what they say don't leverage trading because it is high risk. Just do the basic one, sell high and buy low.

enhu

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Don't start using leverage, even traders to had been trading for year lose a lot of money due to it. Start by just selling your BTC for USD and then buy back when it dips. Basically BTC/USDT is the pair. 2BTC is even big enough to play around as a newbie. I could really start with just $200 nothing for you but pennies. Moving averages and RSI I guess, that's just the indicators to use for starters.

To avoid loss, which should be your first concern is that don't do anything yet unless a spike or price nosedive happen. and when that happens, check the RSI and then take action. This usually work for daily chart so no hurries, wait for days.

justdimin

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I would probably put some of it on savings before I get in that deeply, I don't mean savings in the sense of bank savings account, I would probably put some on staking so that I would get some more while doing nothing, binance started doing staking so now you can literally put all your money on binance and buy those proof of stake coins and just collect cash (depending on coin going up or down you can make even more or even lose).

However, I would try to learn indicators and what they mean, anything could happen in bitcoin world but indicators basically tells you what the market "should" do, it doesn't have to do it but it "should" do it. That kind of stuff matters a lot and you should know them and learn them so you can be prepared a lot better when something unexpected happens.

andycarrol

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in the beginning, it is better to try with a small amount when you have no basic trading because I have a bad experience with losing a lot of money because it does not have basic trading when I just followed some of my friends who do daily trading. quite a lot of shitcoin, and you have to be careful before buying it, and most importantly not greedy, self-control, because this often makes us lose a lot of money in trading.

maxreish

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Quote from: 60BTC on November 10, 2019, 01:53:22 PM

So i have decided i will start trading with 2BTC first. I have read many people suggesting me to day trade and earn some good profit daily.
Let me tell you all, i have no experience in trading and it sound so difficult to me so please answer my questions
so how can i start and where can i start?
where to learn the basics? some good books?

Start with the basic, "buy low-sell high" in trading. It is better if you start with altcoin trading and long term trading first. You have enough capital but use and choose it to those coins that are worth to buy.

I don't have books to read when I was a starter, I just read everyday some useful contents and article onlines, youtube videos also help me and this forum offers a lot just browse and DYOR.

Quote

how much profit can i expect daily in the beginning?
How to avoid major loss?

Profits depend on the situatin and depends on how much is your target profit. Since there are numerous sideways especially in day trading, consider being a swing trader first. And about the major loss, there is a thing called "stop loss".

Quote

is there any professional traders that allow to follow their trades and they charge some fees for it?

There are several groups that allows you to join but with paid subscription. It will not guarantee you that their group gives you secure profits. Just learn what you have to know in trading and drop the idea of joining and following paid professional trader's group.

Ailmand

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It would be the best for you to start practicing with small amounts for you to be able to experience how it is to day trade. The experience will teach you more than reading books, watching trading videos, of course, it is a good reference, but trying it first hand would give you more insight into trading. If you fail on your first try, don't get to emotional and just focus, even expert traders lose money in trading. 2 bitcoin is a huge amount to start with and do not use it all-in if you are new in trading.

Yatsan

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First, don't go all-in with your 2BTC, Try Binance with 0.01btc, be familiarize with the trading, and how trading works. After that, when you know to yourself that you can trade now with much bigger capital then increase it little by little, don't treat it as gambling that if you are losing, you are going to go all in. This strategy works for me, and I hope this is going to work with you too.

Remember that do it after you watch or read some basics in trading! Don't go trade empty-handed with knowledge. I am just suggesting this strategy because, for me, the experience is the best teacher in terms of trading, but yeah, read or watch some video first.

MURONDI

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2 bitcoin is too much for a beginner, do you already know the risks in trading,? don't be easily tempted by big profits like people say, because all that is not as easy as thought, You have to practice with a small capital first, if you are already proficient at making profits, then add the capital.

Shasha80

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Wow, 2 BTC is a lot of capital for me. Many strategies to make a profit with a capital of 2 BTC, The first step I would always
save half the capital that I have on stable coins, to anticipate if the price coins that we buy down then we can buy again at
the bottom price. So later if the price goes up can double profit. The next step is not to buy too many coins with a maximum
of 5 coins so you don't have trouble monitoring them. Lastly don't panic easily in any situation, because panic buy / sell will
make us experience losses.

rmhuntley

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HALA MADRID

How to start trading for beginners :

1. Start trading cryptocurrencies with something that can be lost
2. Continuous focus on Bitcoin
3. Another aspect of how Crypto trading is to avoid greed
4. Do not make a blind investment

Read more : How to start trading for beginners

zeze18

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Quote from: 60BTC on November 10, 2019, 01:53:22 PM

So i have decided i will start trading with 2BTC first. I have read many people suggesting me to day trade and earn some good profit daily.
Let me tell you all, i have no experience in trading and it sound so difficult to me so please answer my questions
so how can i start and where can i start?
where to learn the basics? some good books?
how much profit can i expect daily in the beginning?
How to avoid major loss?
is there any professional traders that allow to follow their trades and they charge some fees for it?
Waiting for your answers Wink

It's hard for the first time, you should just use 2-3% of your capital to learn the market movement.
Learn basic knowledge of trading is a must, and you have to be more careful to controlling emotion and greed when doing daytrading. I think it's recommend to just hold your BTC right now and use a little for practice trading

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