Topic: New to Bitcoin Trading? - page 4. (Read 603 times)

bitcoin trading is about repeated buy/sell to increase amounts.

lesson one
dont put all your eggs in one basket

lesson two
never sell at a loss

lesson three
never risk amounts your afraid to lose
..
the best aim is to imagine how much you waste on novelty stuff. such as fast food or clothing you never wear more than once. EG if thats $30 a week then give it the total of $1560 a year investment.
think of it as $1560 that ends up as a bowel movement in the towlet the nxt day after spending. or as a $0 rturn handout to someone else /clothing charity
..

when trading dont throw the entire $1560 on one order. break it up into lets say 3-10 amounts.. for this explaination ill  just use 3 to save time
$520 buy bitcoin. if the price goes up. great instant profit. if it goes down. dont sell. just leave it alone..
and instead wait for the price to drop enough until you think it may go up again and buy using the other $520...

$520 buy bitcoin. if the price goes up. great instant profit. if it goes down. dont sell. just leave it alone..
and instead wait for the price to drop enough until you think it may go up again and buy using the other $520...

..
the aim here is to look at daily, weekly charts and see what kind of movements happen.. dont be tmpted to go all in and hop to see a 200% spike the same day. instead if each day averages a few 2% changes. then aim to buy and sell at 2% instead of waiting for the 20-200% spikes

eg when the $520 gets its 2% rise. sell it. thats $10.40 profit from that one order per day. and if you manage to have all 3 orders in play thats $31.20 a day... which over a year is more than 200%

..
thus your not risking and waiting for $1560 for a year. your instead rinse and repeating $520 amounts multiple times for 2% which soon add up

key here is dont get greeding wasting time waiting for 10% when you can jsut as easily risk less and get multiple 2%'s in the same time whi

Everyone has their different experiences some good and some not too good, I started out on what'sapp group where someone gives idea on what he thinks about the market and sometimes post free signals to everyone and the results of the signals as well. Funny enough most of the signals I used landed me in losses, cos the coins I bought with the signals never got up near the positions I bought them until I had to sell it out in loss after several months. But when I tried to study a bit more about the market and the signals I found out that some of the signals were either too late or too early, which made me to ignore the signals and continued to research things on my own until I learnt how to use the inductors on my own. That was when I began to make profit in trading

truth


you gave good advice, but you know that even reading these charts is still very difficult to predict prices, you have already read the forecasts of many people who consider themselves experts and to this day no one is correct in predictions. so it's difficult to predict prices even though someone who knows how to read the charts.


I think it's all a bad idea


I think the person should learn how to search the internet, watching videos on youtube and reading books and practicing with small amounts. Just like you said: "Experience is the best teacher."

Nicely explained! I agree with you that for bitcoin trading doing research and gathering of knowledge is very important. Otherwise, in future, you may get into trouble.

Bitcoin is leading the whole crypto currency market. Thanks for the informations and advices that you gave. A great help for the new investors of this field.

then don't do it!
it is like saying "i don't have the energy to practice and do the routines for the match so i am going to use drugs and then go compete in the race"!!!

in my experience this is a terrible idea.
first of all there are no experts in the field that are going to let you follow them. they don't want anybody following them. they just want to silently make money without anybody knowing.
those whom you follow are usually idiots trying to get you to pump some altcoin so they can dump it.

Nice advise but I also like to add that, whatever we read is theory. We have to put it in practice first before we fully commit to it. If we put our money without practice, we might still have same problem OP had.

Yes thanks for your suggestion and I think this will really help the newbies.  What I would like to add with this is follow a strategy for dealing with bitcoin and gather knowledge as much as possible. This will really help.

Hi. Please allow me to go back to basics. I just wanted to share to the newcomers here in the crypto world that, in trading, you only have to invest what you can afford to lose. Luck doesn't happen every time so don't be hyped and spend all.

I knew that there are traders who are more experienced than me, and I keep learning new things every day and I don't consider myself an expert. I just really wanted to share what's on my mind. Lol.

Bitcoin, for me, is not gambling. But your thoughts and actions are what you gamble. If you don't want to lose, make yourself knowledgeable. Do further research on how to get good profit. Knowing how to read a chart is one of the best ways I can offer. There are certain indicators that can really help you get good profits. Well, not everyone has the energy to learn that practice, so I also suggest that you follow experts in this field. When I was starting, I barely had an idea in crypto trading, I was like a new student studying new culture. So I look for a sensei whether he knows it or not, Lol. Choose someone you can really trust. Whether it's an expert on your twitter or on Facebook who likes sharing updates regarding his views of the market. Or even a guy or gal on YouTube. If you can't read the chart let them read it for you.

There you go, these are some thoughts I have in mind. I'll try to share some tips soon. I know that the awareness of Bitcoin to newcomers are increasing. I was vulnerable in trading when I first try it, no knowledge, no experience, no indicators, just gambling. I learned from all those mistakes and sharing some tips can help newcomers not to experience the same thing. But as what wise men say, "Experience is the best teacher." Good luck, folks!

What do you think? Share your tips too. It will be much appreciated.