Need help trading. - page 2. | Bitcointalksearch.org

Finestream

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Quote from: jrrsparkles on April 13, 2024, 11:58:45 AM

Starting trading in your beginning of crypto career is not recommended either, I would suggest you to buy Bitcoin for $500 and meanwhile start learning about trading on the YouTube like platforms and there are also trading courses available on Udemy which can give you brief knowledge but you will learn the real things when you actually starts doing it on your own.

Good luck...

Trading is more risky for a beginner in crypto. Instead, I will suggest you to start buying and hodling with a minimal amount. That will be more fit for you, as it’s less risky and less stressful. And as you go on learning the basics in investing bitcoin, slowly you will start to grasp the idea about trading with bitcoin. Don’t rush into trading, just take your time learning first all the basics and observe how those successful traders succeed in the market despite of its volatility and uncertainty. I know there’s always a perfect time to trade, that is when you get sufficient knowledge and skills with bitcoin prior to trading.

ancafe

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Quote from: Bch219 on March 03, 2024, 08:19:51 AM

I'd appreciate it if you could provide me some helpful suggestions on where I should go to gain the expertise. I've seen several people professing to give good signals, and in the few months I've been here, I've learnt not to trust them because they could be scammers or don't know how to conduct decent analysis

Please let me know what you think a beginner should know and where they can receive the knowledge that will help them become an expert, as well as how long it will take me to get the hang of the complete trading technique. Links are greatly appreciated.

It is too risky to be directly involved in trading because if you don't have the right knowledge it can actually result in losses. Some people have advised you to find out how you should learn to understand first before directly trading. But for me the most important thing is that you have to have a mentor who can direct your trading to be better. Learning without a mentor can indeed be done and there are many videos made by people as trading guides, but not everyone understands trading well without involving a reliable mentor.

If you are serious about learning to trade then look for clearer sources or you can find out about trading through skilled people. Practicing trading skills is not easy because you have to be serious about learning first before directly trading with limited knowledge. So be careful in trading when you don't understand how to do it correctly.

Jewan420

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Quote from: Bch219 on March 03, 2024, 08:19:51 AM

Please let me know what you think a beginner should know and where they can receive the knowledge that will help them become an expert, as well as how long it will take me to get the hang of the complete trading technique. Links are greatly appreciated.

Learning is always best from teachers. Knowledge obtained from the internet will never make you proficient. Crypto trading is very risky business, trading without skill will be foolish and you can lose everything.

You can get advice from this forum, but you can't gain skills or knowledge from here. There are many skilled and experienced people who are more knowledgeable about trading, They can advise you on how to become a skilled trader, but they cannot make you a skilled trader.

In this case, you must approach a skilled trader and learn from him or gather all the trading information.

Volimack

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Before trading you should know about trading if you don't know its basics you will lose money by trading. To know about the charts of the market. If you have no experience it is best to avoid trading during important news releases as there is a high probability that the market will be very volatile at that time. You should also consider learning about basic risk management techniques as they will help you avoid losses.

Hypnosis00

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Quote from: Natsuu on April 14, 2024, 02:44:53 PM

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My advice would be to prioritize education over immediate gains.

I agree with this. And if you just want an exposure with the markets and experience trading. You don't need to risk real money. Start on paper trading first. When you have a foundation of how market books price, then you can start with 10 dollars with the smallest leverage possible and work within your psychology. Start thinking long term because trading is a long game.

Don't chase money because the more you chase it the faster it will run away from you. Also, don't follow people on social media who make unrealistic return. You only see winners in there and they hide their losses. Instead focus on your own development. Have a journal. Don't measure yourself against other people success in trading because you have a very different and unique journey.

We can have all the learnings as we continue trading because reading books and watching online tutorials are not enough to provide us with good knowledge and aside from that, skills can't be built instantly but it takes time to develop. So Patience is very important in trading and so those who are willing to wait will remain but those who can't will simply move away and find comfort with the other field.

That is only a few traders found good in trading while many are suffering big losses. We can't underestimate the volatility of the market which is why we have to be more careful on our actions and decision-making.

Natsuu

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Quote from: ?? on ??

My advice would be to prioritize education over immediate gains.

I agree with this. And if you just want an exposure with the markets and experience trading. You don't need to risk real money. Start on paper trading first. When you have a foundation of how market books price, then you can start with 10 dollars with the smallest leverage possible and work within your psychology. Start thinking long term because trading is a long game.

Don't chase money because the more you chase it the faster it will run away from you. Also, don't follow people on social media who make unrealistic return. You only see winners in there and they hide their losses. Instead focus on your own development. Have a journal. Don't measure yourself against other people success in trading because you have a very different and unique journey.

Dewi Aries

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Quote from: jrrsparkles on April 13, 2024, 11:43:53 PM

Quote from: GbitG on April 13, 2024, 05:07:47 PM

In an era where everything is readily available over the internet for free, I wouldn't recommend buying a course that would only teach the basics which a person can learn from free resources with a simple Google search. I know that some people find it easier to learn when they have a mentor who explains everything and makes things simple for them to understand, but if you are getting into a financial market such as this, you will need to start learning to adapt things without a mentor.

YouTube can be a good way for a newbie to start learning, however, they will need to make sure they are not relying on a single channel or a single content creator because you never know, one might be providing incorrect details and information, so it's essential to check through multiple sources.

YouTube is filled with lot of misleading information that's why starting the basics via course maybe a better option for everyone but I am not saying that we can't learn from YouTube cause there are really good information available but the proportion of misleading information is abundant so the chances of falling into wrong idea about cryptos can end one's career in the very first move.

Yes but not everyone has a good financial situation to be able to pay for courses to professionals which in addition to the cost of the course is not small, this is indeed a good alternative to be able to get really directed knowledge by learning directly from mentors, but sometimes not everyone has the ability to spend extra money as a course fee, which of course most people usually prefer to use the internet as a place to find information about whatever field they want to learn.

As you said one of them might be YouTube, I understand that there are always some influencers or YouTubers who serve something that is not true and we can never avoid it completely because we are a beginner who does not know what is right and what is wrong about something we have to learn, But I think being rational and thinking logically, you can look for some YouTube channels that do have a fairly high trust from the audience and you can also read some reviews there, if for example most of the reviews are positive and helpful then I think it is a place that might be quite appropriate to be your learning mentor.

jrrsparkles

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Quote from: GbitG on April 13, 2024, 05:07:47 PM

Quote from: jrrsparkles on April 13, 2024, 11:58:45 AM

Starting trading in your beginning of crypto career is not recommended either, I would suggest you to buy Bitcoin for $500 and meanwhile start learning about trading on the YouTube like platforms and there are also trading courses available on Udemy which can give you brief knowledge but you will learn the real things when you actually starts doing it on your own.

Good luck...

In an era where everything is readily available over the internet for free, I wouldn't recommend buying a course that would only teach the basics which a person can learn from free resources with a simple Google search. I know that some people find it easier to learn when they have a mentor who explains everything and makes things simple for them to understand, but if you are getting into a financial market such as this, you will need to start learning to adapt things without a mentor.

YouTube can be a good way for a newbie to start learning, however, they will need to make sure they are not relying on a single channel or a single content creator because you never know, one might be providing incorrect details and information, so it's essential to check through multiple sources.

YouTube is filled with lot of misleading information that's why starting the basics via course maybe a better option for everyone but I am not saying that we can't learn from YouTube cause there are really good information available but the proportion of misleading information is abundant so the chances of falling into wrong idea about cryptos can end one's career in the very first move.

Negotiation

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Quote from: Bch219 on March 03, 2024, 08:19:51 AM

Please let me know what you think a beginner should know and where they can receive the knowledge that will help them become an expert, as well as how long it will take me to get the hang of the complete trading technique. Links are greatly appreciated.

If you are brand new then I would say before starting trading you should know trading well for few months and keep practicing trading. In particular, many platforms offer demo trading so you can practice them, or start trading with a very small amount, such as $10-$20, and keep practicing. To be honest, it is very difficult to get good at trading platform without long practice, one thing but many people don't realize that is why we often face big losses.

GbitG

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Quote from: jrrsparkles on April 13, 2024, 11:58:45 AM

Starting trading in your beginning of crypto career is not recommended either, I would suggest you to buy Bitcoin for $500 and meanwhile start learning about trading on the YouTube like platforms and there are also trading courses available on Udemy which can give you brief knowledge but you will learn the real things when you actually starts doing it on your own.

Good luck...

In an era where everything is readily available over the internet for free, I wouldn't recommend buying a course that would only teach the basics which a person can learn from free resources with a simple Google search. I know that some people find it easier to learn when they have a mentor who explains everything and makes things simple for them to understand, but if you are getting into a financial market such as this, you will need to start learning to adapt things without a mentor.

YouTube can be a good way for a newbie to start learning, however, they will need to make sure they are not relying on a single channel or a single content creator because you never know, one might be providing incorrect details and information, so it's essential to check through multiple sources.

jrrsparkles

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Starting trading in your beginning of crypto career is not recommended either, I would suggest you to buy Bitcoin for $500 and meanwhile start learning about trading on the YouTube like platforms and there are also trading courses available on Udemy which can give you brief knowledge but you will learn the real things when you actually starts doing it on your own.

Good luck...

Zanab247

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Crypto trading is a good skill newbies need to acquire to grow higher in financial aspect, and all you need to do right now is to suspend all those things that is not giving you chances to read some things that related to cryptocurrency.

You can read from here https://github.com/SpiralDevelopment/Awesome-Crypto-Trading to learn a lot of things that related to crypto trading, I believe you will achieve skills that will allow you to be bold to trade your coins by yourself because all the things you need to know about crypto trading are in this link.

I will advise you to achieve the knowledge first before you will use the $5k to test yourself, if what you learn from all those links can allow you trade without someone assist, before you can start using the $5k to trade.

iamaruf

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As per my perception, it's not a small amount. I started crypto trading back in 2017, and the amount was less than $100. You should learn trading and don’t put all of your money on a coin. Try to spilt the money. And sell on a low margin; don’t wait for a long time or a big profit. There is a high risk. I am just suggesting you DYOR

Octopus Trader

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If you lack experience in trading and don't trust signals, you can explore copy trading and, if interested, earn passive income by copying my trades.

For those interested, I'm leaving the link to the topic below.

https://bitcointalksearch.org/topic/m.63868185

boty

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Quote from: wxa7115 on March 16, 2024, 08:31:19 AM

The biggest flaw of newbie traders is that they are not interested on learning, they want to obtain profits, but they do not want to take the necessary steps which could allow them to reach their goal.

So they try to skip as many steps as possible as to them those steps seem completely unnecessary, only once they keep losing money they will understand why we insisted they took a slow approach to the markets, but by the time they understand this lesson, they have lost so much money that many of them have no option but to give up on their dream to become traders.

Yes, every beginner who goes through this stage of course will not be able to make a profit from the trades they make and if they really want to make a profit from trading, of course they have to be able to learn well about trading so they can make a profit on the trades they make.

If they continue to trade without any knowledge about trading of course they will continue to lose their money on trading and very few can survive to trade without any knowledge and if they are aware of this of course they must have knowledge about trading then they can earn profit from the trades they make and those who cannot learn from the mistakes they make will of course stop trading at a loss.

wxa7115

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Quote from: freedomgo on March 14, 2024, 05:57:33 PM

Quote from: Fivestar4everMVP on March 13, 2024, 11:29:05 AM

Another user already recommended Binance academy, I was going to recommend that and also provide a link to it,, but all that have been done by other users.

So, what I have to add is that, $500 is actually too much money to start learning how to trade with, as a beginner, you stand a chance of losing most of your trade and I believe you (@op) don't wanna watch your $500 get drained in the process of learning to trade, I will advice you start learning how to trade with nothing more then $20 to $50 dollars, and as well, look for an exchange that have a demo account ability of feature, start trading On a demo account first, demo account simply means that money used to trade there is not real money, you can learn with that and get perfect at trading before actually investing real money into trading.

Trading is highly risky, always remember this and arm yourself well enough with good trading knowledge, to minimize your chances of loses.

While trading can be highly risky for beginners, hence starting trading with just a small amount that you can afford to lose is highly advisable. Learning trading is never easy, yet with passion and patience to aid you in the process, that will make you less prone to losses. For now, I have to advise demo trading account is the key. Although the real live trading is still a lot different, but every trader started on a scratch should also begin with trading not having real funds.

The biggest flaw of newbie traders is that they are not interested on learning, they want to obtain profits, but they do not want to take the necessary steps which could allow them to reach their goal.

So they try to skip as many steps as possible as to them those steps seem completely unnecessary, only once they keep losing money they will understand why we insisted they took a slow approach to the markets, but by the time they understand this lesson, they have lost so much money that many of them have no option but to give up on their dream to become traders.

goldkingcoiner

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Quote from: stadus on March 15, 2024, 03:55:48 PM

Quote from: goldkingcoiner on March 13, 2024, 02:21:36 PM

Quote from: Bch219 on March 03, 2024, 08:19:51 AM

As a student, I've saved up to $500 and am now looking for a means to get into trading. I understand that $500 is not a good starting point for some traders, but I want to use it throughout my learning process. The problem currently is that I don't even know where to begin when learning how to trade.

I'd appreciate it if you could provide me some helpful suggestions on where I should go to gain the expertise. I've seen several people professing to give good signals, and in the few months I've been here, I've learnt not to trust them because they could be scammers or don't know how to conduct decent analysis

Please let me know what you think a beginner should know and where they can receive the knowledge that will help them become an expert, as well as how long it will take me to get the hang of the complete trading technique. Links are greatly appreciated.

Do not use real money when starting trading because you will definitely lose it. I recommend using a testnet (Deribit testnet for futures/options, for example).

The best strategy right now is to DCA and hodl. Everything else makes no sense during a bull run.

There are plenty of places that teach technical and fundamental analysis but the only way you will really understand is by learning by doing. (just use test money)

Yes, trading is capable to give us quick profits but I also don’t think this is the best strategy right now, but most probably DCA and hodling knowing bitcoin halving and bull run are just around the corner. Instead of risking your money to lose in trading because that’s definitely what will happen to your trades, I suggest you focus more on buying and hodling bitcoin as bitcoin is heading to hit its new all time high after it has break its last ATH.

However, learning by doing is still the best way to learn trading. Experience should be your best teacher, but you should also learn to timing trading so that you can avoid huge losses in an instant.

That is exactly what I said, did you even read my text? Yes, hodling and DCA is the best way right now. In fact, I would even go as far as to say trading is very detrimental during a bull run or a bear run. And for those who do know what they are doing due to the fact that they are not expert traders, it would be better not to trade at all. At least not by using real money. Just sit tight and hodl. Distract yourself with something else if you have to.

Bushdark

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Quote from: ?? on ??

This is a good idea. But first, you need to decide on a trading platform. I have good thoughts on techberry. The first thing that struck me was the ease of use of the platform. Even if you are new to the world of trading, you will easily understand the interface. In addition, they provide an extensive arsenal of educational materials that help you understand the basics of trading and develop as a trader. But the most important thing is reliability and safety. I am confident that my funds are securely protected thanks to advanced encryption technologies and information security.

As traders we need to determine what we are going to trade and how we are going to go about it. Trading is very difficult especially when making financial decisions. We need to make decisions for ourselves if we have to make money from the market because no one will keep telling us how much we have to leverage to trade in the market. We also have to determine the stop lose we are using so in case the market goes against us. We need to know what to do and how to go about decision making.

stadus

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Quote from: goldkingcoiner on March 13, 2024, 02:21:36 PM

Quote from: Bch219 on March 03, 2024, 08:19:51 AM

As a student, I've saved up to $500 and am now looking for a means to get into trading. I understand that $500 is not a good starting point for some traders, but I want to use it throughout my learning process. The problem currently is that I don't even know where to begin when learning how to trade.

I'd appreciate it if you could provide me some helpful suggestions on where I should go to gain the expertise. I've seen several people professing to give good signals, and in the few months I've been here, I've learnt not to trust them because they could be scammers or don't know how to conduct decent analysis

Please let me know what you think a beginner should know and where they can receive the knowledge that will help them become an expert, as well as how long it will take me to get the hang of the complete trading technique. Links are greatly appreciated.

Do not use real money when starting trading because you will definitely lose it. I recommend using a testnet (Deribit testnet for futures/options, for example).

The best strategy right now is to DCA and hodl. Everything else makes no sense during a bull run.

There are plenty of places that teach technical and fundamental analysis but the only way you will really understand is by learning by doing. (just use test money)

Yes, trading is capable to give us quick profits but I also don’t think this is the best strategy right now, but most probably DCA and hodling knowing bitcoin halving and bull run are just around the corner. Instead of risking your money to lose in trading because that’s definitely what will happen to your trades, I suggest you focus more on buying and hodling bitcoin as bitcoin is heading to hit its new all time high after it has break its last ATH.

However, learning by doing is still the best way to learn trading. Experience should be your best teacher, but you should also learn to timing trading so that you can avoid huge losses in an instant.

shawonngp

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Quote from: Oneandpure on March 13, 2024, 03:46:11 PM

Firs I am so excited with OP have over $500 capital for trading as a student and I think is very large amount using for trading in cryptocurrency, but most of exchange for trading place requirement with KYC you need prepare your document ID and difficult for student have the ID before raising up to 18 years old. Its not problem you can use your parent ID and verifying using their document for trading in exchange, I think not good ideas when trading using the other people recommended or joining with their signal group. Make your own research when trading in cryptocurrency because most of signal in trading is not worth to buy with their coins recommended have raise much higher price.
Normally as the beginner always need guider but find the right people can educate your self in trading and not try to follow other signal when buying some coins, research by your self is very important thing in trading and checking with some coins have much transaction volume for trading.

KYC will not be a big deal because without KYC he can trade in the dex's and cex's although most of the cex's require to complete KYC to trade in their exchange. He can use MEXC for trading, if i am not wrong they still provide opportunity to trade without kyc. Also he can use his family members documents it's good idea. If he is noob in trading so it will wrong step if start trade by following signal.

Topic: Need help trading. - page 2. (Read 1220 times)