Topic: new to this things - page 7. (Read 1292 times)

A welcome to you newbie. You want to start into trading but you don't know what to do. Let me share some of the things you need that will help you.

1. Don't go into a battle with no weapons. - What is this? In battle, a soldier needs weapons in order to win. Same with trading, in order to become a successful one, you need to gain knowledge and information that will help you in trading like for example. How to use indicators, How to use technical analysis. How to read candlesticks and so many more. Don't trade with no knowledge because your money will be gone like "POOF".

2. Trade emotionless. - This is very hard to do especially if you are a very emotional people. When I am starting in trading, I tend to put some emotions in my trading and what is the end - result? LOSS. WHY? Because when I saw my bought coin crashing down, I sold all of it at a loss because I don't want to lose my funds. Don't trade with emotions because emotions will eat you and your money. Trade calmly and no emotions involved.

3. Be patient - When traders ask for an advice, this is always the first thing they are saying but accept it that some traders tend to become impatient and the end, it will be a loss for them. If your bought coin crashed below your buying price, leave the exchange. Don't see it for hours or even days. Sometimes, we need to hold and be patient for us to gain profits. When I am trading and I see my coin dropped below my buying price, I'm reading here in the forum and I don't see the exchange very often. It will be stressful if you do that.

4. Don't risk any amount that you can't afford to lose. - You need to set a specific amount for you in trading that when that money is lost, you will not feel anything bad. In my first trading, I invested 100$ in trading. Lucky I am not at a loss right now but if if if my 100$ will be gone in trading, I will not feel anything because I can afford that value to lose. In order to do this you need some discipline too.

5. Don't trade by using signals from the pump and dump groups - I inserted this because I know that P & D groups especially on telegrams are SHIT.. PURE BULLSHIT. If you are a newbie, its better to learn how to read charts rather than hoping for the group to share some signals for you. Before they share a signal, they bought it already and they need people to pump it. When the time comes that their target price reached, they will dump into your face very hard that when you are about to sell it, you are now at a loss so don't trade using signals with them.

Hope this helps

You afraid because of what? losing money? you should never trade money more than you afford to lose, if you afraid so much, hodling might be better choice for you, trading is always very stressful thing to do...

There will be mistakes nobody can escape them so do not be afraid of mistakes. Of course you must not lose your last money I mean coming on market you should understand that you can lose your money so you should operate such an amount which you can lose without a tragedy.

You have taken a time to create this thread. Instead of that you spare the time to read the pinned thread on the same section or research about this Youtube for best trading start with and tactics need to do.
I see you simply created the thread to start in trading. You this is million time asked question everywhere. Please do your own research to find the answer.
You may loose the money in your initial trading but be bold and invest on the good cheap potential altcoins.

Start small and that will help you build confidence into your trade. Confidence is important in trade plus giving you the joy for further research. Do not throw all into trade anyways.

I will advise you to start buy open account with an exchange platforms that are ready to provides you with demo or practising account and from there you should spend quality time to learn and develop your skills on how to trade professionally. This market is not a gambling but a thing that obey laws and when you follow it laws you make money from it.

Yes you are right it all about experience and luck so made some efforts to learn new things in trading if you learned some tricks in trading it will be very easier and make some some profits in short time.

That is if OP is in the US. Usually its not as strict in other jurisdictions, but they should really check before hand. It's not so easy to make a mistake with cryptocurrencies as it is quite differently classified in every jurisdiction. I would say that it would be best to declare something out of it, to have some sort of good faith on your part that you paid some tax to the government.

Paying with bitcoins are indeed good, if again, it is available in his country. I guess it is not as accepted yet as we thought it would be. But maybe someday it will be something acceptable to even the smallest of merchants.

Know the risk, have money and patience is basic to start trading. Look's easy but it will make you boring because there's no profit when learn about the basic. After that next step is practice using money management, in this point you will know market works. Last one, never trust any bot or other people opinion to decide what you need to do, believe in you and good luck.   

Trading is not the hard part. keeping track of everything for tax purposes is. Many exchanges help with this by keeping records. If you want to try bitcoin then start by forgetting about investing. Start with some profitable spending.

Set up an account at an exchange in your country. Make sure they have a business license!!!!

Fund the account with a transfer from a bank account or mail them a check, etc. You will have to provide all the same information as when you set up a bank account.

Buy some bitcoin. Once you have it you could trade it back and forth for fiat but why? You will do better to spend it as bitcoin. You avoid trade fees and many retailers offer a discount for using BTC. Just go to Overstock.com or something and buy an item you were going to buy anyway.

There is legislation pending in the U.S. that would exempt purchases under $600 from capitol gains tax. If that goes through spending will be the new selling.   

If you afraid in trading just stay away. First you should gain some knowledge in Cryptocurrency and Blockchain technology then analyse the trading strategies. Finally pick the best potential coin but don't do know. Because you are not fit for the trading if you try know you will make more loss in your investment. All the traders are believe our investment but you are fear in trading.

Better start learning the basic of trading so that you will have the idea before going to it because the problem of the beginners are always the same and that is they are clueless when it comes to trading and all they wanna want is to earn money instead of understanding what it is. So I recommend you to study what are the types of coins and how to circulate in the crypto market, and when you have some knowledge the next thing you wanna do is to find some capital to start with, even a little amount is enough because you will get it bigger as days pass by doing the right thing in trading and that's because you have the knowledge.

Success and defeat are common in trading so we need some experience in trading and also some intelligence needed for this if you had that you will be ready for the trading business.

Even seasoned traders commit mistakes in every other trade. You actually need to experience being wrong in order to grow in this industry. One other thing you need to watch is the amount of money you risk for trading.

your fear will lead you to losses, trading has a high risk that must be thought first, my advice is better you learn about the state of the market, see and note the price movements when down and on the rise, as a beginner do not hurry lower your capital before you really understand the market

You don't need to worry much, you just need some research and even the forum threads are well equipped for you to learn. The issue about trading is to build a personal pattern which you can change from time to time if it is not working.

First thing you need to do is read and do a lot of research about the CryptoCurrency. If you don't have knowledge about in the it's too risky you need to watch video in youtube about trading and it's better to stay in forum I'm sure you will get a lot of information.

im new in this trading.so i dont how to start.im affraid to do something wrong..help me please 😊