Topic: How to start trading with 2 BTC? What is the first step? - page 7. (Read 1300 times)

If you have intention with 2 BTC capital then my first suggestion is to trade at Binance there are many active coins and you can trade with your performance.
You should learn more about how to analyze the correct price of coins or see on YouTube how to practice it, for ways to overcome losses, I think it's a risk but how to minimize it by looking for potential coins.

Do not mess with leverage if you're new. It's a terrible thing for people that don't really understand it, and it's going to mess you up if you start out trading with margin. Start by trading on a reputable site without using leverage and read up and test how the site you're using works (VERY important), and start by watching or reading beginner guides on trading on places like Medium or YouTube, and start applying what you learn with a very small amount of money to ensure you're learning but not wasting excessive amounts of money at first.

It's very possible you might not profit much at first. Most new traders tend to lose money simply because of inexperience, but that's fine as long as you're only risking a set percentage of your trading capital per trade and you're not risking more than you can afford to lose. The latter is probably the most important thing you need to remember in trading.

You'll never learn much by copying others' trades, though it's possible and actually built into some platforms like eToro for free (AFAIK). I'd advise against starting out by copying others' trades, because the end goal is to be trading on your own, not by depending on other people. It's fine to occasionally view other peoples' trades to visualize their thought processes and techniques, though.

True, having a BTC is a good crypto on hand already. Just set aside some funds for trading.


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.

+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.

Several tips since you do completely start from the beginning.


- Dont use up that entire 2BTC money of yours if you dont like to lose it all unless if you do have thousands of coins then its fine.
- Start on small trades and figure it out on what kind of trading you do prefer either short or long term ones.
- Major loss? Its inevitable but somehow you can lessen it with your own experience and skills.
- Dont hurry and take time to learn up even the basics. Tradingview for plotting out technicals and visit out Babypips.com for total basic terms
 in regards to trade.
- Test small amounts on Binance.com
- Trial and error
- Dont rush up on making money or profit.

We have tons of ways on how to do day trade. But dont expect it to be an easy profiteering activity. Cryptocurrency is very difficult to predict and different from traditional trading. It's very volatile and you could lose everything in a second. Anyway, I'm not scaring you. But this is the truth. Passive income? That's not true  Learn how to use stop loss function to avoid sudden loss, read news about current events on cryptocurrency and evaluate them if there will be a positive and negative impact in market.

Good! Welcome to the crypto universe. Be patient and always control your emotions.


What others say is not important, the important thing is what you know about yourself and how strong confidence you have. If you don't have experience then you have to earn it. Just remember, climbing Everest is also so difficult but humans succeded.


As you said, you don't have experience so I suggest starting with learning because you need to understand the crypto market very well, it is very volatile.
Trading has different strategies and different strategies have a different knowledge base, so you have to learn those.


Youtube can be a good free source, also you can find some source by googling. There are some books I guess, I just can't find the link now but I saw it somewhere a few days ago.


That depends on many things. I suggest don't run for profit at the beginning, instead, trade with small amounts to taste the waters after earning some knowledge, basic or intermediate.


Probably, by controlling your greed and rush decision making also understanding the market trend.


There are trade signal channels that offer free or paid trading signals. But it is a big NO.

The first step would be to not to get started with 2BTC at all. That's too high an amount to start trading for someone with no experience.
Trading is a long term venture,so you have to properly build on your foundation. Profits in the early stages would be few an far between, but that's the best way to get a feel of it. Avoid trading/sign groups which are shared to you. DYOR.

Use your best learning option, books, videos or articles. I will suggest you try demo trading in the beginning, although a lot of people misuse this feature. If you're serious about learning how to trade, you'll take demo trading as the real thing, only use amounts you would risk in an actual trade and keep trying till you get it right.

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