Topic: I'm interested in trading but don't know where to start. Any tips? - page 2. (Read 1395 times)

At least because of transparent account activity and favorable trading conditions

Why monfex?

Try worthy trading platforms. Binance and coinbase are great, about kraken I doubt, and also you can use monfex

If you really want to be a trader, then what you need is not just tips🧐like seriously… where do you think you’re heading with tips? Tips are not enough for anyone that wants to be a trader. If you want to really be a trader then it requires you to make out time and study what needs to be studied about trading.

Trading is not something you study in just fee minutes , but you can cover up everything quickly on your free day when you have nothing doing. That way you can get to learn everything that needs to be known about trading and then you start your own trading. For now you will have to be relying on long term trading. Cryptocurrency looks a lot like forex/binary, but they are not the same, although some people will tell you that cryptocurrency is more easy.

But, if you ask me, I’d say that cryptocurrency is more difficult. Why I say that is because stocks and other things can be predictable, but cryptocurrencies are very hard to predict (some say it’s impossible), so how does that make it any easy than the other ones? Crypto trading a more difficult and I have seen people lose a lot of money, except now that exchanges now have Stop loss, it has been quite helpful in limiting the losses.

So, take your time, don’t think that just tips are enough for you to begin trading. You have to learn it, and if you have friends that are also into cryptocurrency trading and they agree to help you by teaching you , then that would be much better. That way you can watch them trade and learn from them. You can also trade with them while you practice, and once you get better you can decide to start up on your own. Good luck.

The best way to actually start learning first before you have a mentor or a super trader that will out one through further training is to learn over the internet and as you said, bitcoin forum would also be a very good place to learn even though i didn’t learn through bitcointalk, and that was because I started trading before bitcoin talk started.

That was when Forex trading was still very hot before cryptocurrency trading through its volatility came to divert the attention of Forex traders to its forum, so aside bitcointalk, I leaned most of the basic things that I knew from the YouTube, that is where you have all the great trader that would teach you everything that you need to know from a to z. So, the OP can really try to check that area out and then read some contents on Google.

I'm not very good at trading, but after reading a few articles, I might be able to give some tips.

1. For the first, know that knowledge is everything in trading. without it, you will only speculate without a strong foundation, it can make you disappointed in the future.
2. start with small assets. some people are in a hurry to trade large amounts to make a profit and when prices fall, they start to get stressed and disappointed. so to begin with, start using small assets.
3. avoid penny stock. do not be tempted by tokens that easily rise in price, so look for information about it.
4. realistic with the benefits that can be obtained. sometimes, someone who trades wants to get a profit of more than 100% of their assets. it will make you waste the opportunity you can get before the price goes back down.
5. stay calm and don't panic easily. Well, this is an important point when trading.

in a matter of time, you can start anytime.

Try to watch basic trading tutorials via youtube. Once you know how it works, you can trade in any cryptocurrency exchange. You may also ask some questions in forum or social media platforms such as this forum, Reddit, and etc. For the starting capital, $10 is enough. Exceeding above it could be too much for a novice trader.

Why not start here in bitcointalk forum? Feom here, you can actually learn some basic in tradings. I have started it all from here and I maximize my knowledge by reading some good content in other websites as well as to watch some useful tip videos about trading. There is no impossible, if we want to be a good and successful trader, have an urge to start it now.

For a person who is already engaged in investments, it is very easy to trade, because he already knows how to choose a product for his activity.  The analysis of the cryptocurrency market and the particular project taken play a very important role.  In addition, you need to make deposits of at least 5 or 10% of the total number of coins in order to really control the situation when you work on daily trading.  At the same time, it is very important for a beginner to learn how to use stop loss.

Start with the smallest amount will help us from getting a big loss if the market is down deeper. Besides that, we can learn from the trade, and we can start to analyze the market. Soon, if you are familiar with the coin movements, you can use a larger amount to test your skills. But don't force yourself to use a larger amount in the first time or you don't know anything about the coins because that will be too risky.

If you are interested in investing, then I guess you have the money to start it.

You don't need to start with the capital to be honest since there are a lot of people here, or should I say traders that started trading without any capitals, maybe their capital is their way of advertising sites and services in the forum and other platforms. Another thing, don't just spend your money into trading if you don't know what you will be doing so better study about it. Cryptocurrencies are so volatile so you will be having a hard time following up as a newbie, always keep that in mind.

I totally agree with you. Start with the smallest amount possible, because it will sooner or later disappear.

Such amount that can be sacrifice and treat as a trial funds while you are trying to to learned deeper understanding regarding to the market that you will going to invest your money, this venue is very crowded and very volatile expect that on your first real trade some mistakes can be done to the point that your investment will lose, make sure to learned from that and that experienced will teach you to be a better trader in the long run, be optimistic and always have a positive approach so you'll not stress yourself while you are still inside this market.

Start by taking a course on trading and adding knowledge about transactions. Do not rush, you will have to take years to get profit.

use only money you can lose to practise with crypto!

I think that many users of cryptocurrency are interested in trading, because practically only daily trading today is capable of generating good profits.  Even if investors are today waiting for the market to recover, to get at least some profit from their assets.  But in order to trade, you need to have a lot of knowledge, and first of all you need to learn how to analyze everything that happens on the stock exchange.

About how much money you have to have or spend on starting a trade I think that depends on what your strategy is to achieve a target, but it would be better to just spend money that can be lost at the beginning. With a little sacrifice at the beginning, of course you will have a goal and use a definite strategy because you know the movements that will occur next if you really understand about each candle on the chart.

This is important, most of those that want to become traders show that they do not read at all and do not make any effort to learn about trading or they read a lot of books and watch many videos about the subject but they never begin their journey and start to trade, and this is unfortunate we need an equilibrium, after reading some books about trading most of the time you already have more than 90% of the knowledge needed to be a trader and the rest can only be learned by actually watching the charts and getting in and out of the market.

The best tip i can give to you is to first study how to trade really well and off course you should study the best crypto to invest for, and if you dont have a big captial, i am suggesting you to start trading with an altcoins with small amount just like tron and ripple.

Like other businesses, trading is all about making money. The secrets are hidden inside the head of the trader who knows in-outs of the charts and has a unique inside feeling where the price is heading for the next price bar. Indeed, traders are not spending their time reading a lot of stuff, practice is the best teacher in financial markets. Ask from any hedge fund or another sort of financial institution trader, they never suggest to keep ignoring the real markets, price action instead of reading lines on trading books.