Topic: New to Trading - Tips and Suggestions (V1) Getting Started Full Guide (Read 174 times)

Yes, I have Published V4 but due to the inactivity on the threads and some other reasons (Busy time) I quit on the V4, I am thinking to start again with the advanced patterns and more engaging discussion topics. Let's see what will come next to it.

I was dedicated to guiding with basics to the new ones.
My Second motive was to bring something interesting to this section because 90% of the discussion in the trading Section is really on Low-quality topics. There are some serious issues with this section due to newbies' repetitive Questioning and other low-quality topics. So at that time, I decided to at least put some effort to raise up thread quality in this section.

Sad to say but most people just fill their Signature Qouta with nothing interesting in the discussions the primary reason for that is low-quality threads. I have some other Plans as well but all are on my to-do list.

It's been almost 2 months now, do you have the V4 version of this topic ready or you have given up on it?  By the way, this is the V1, so are Version 2 and 3 published ?
I understand that this may not be interesting for some people because the things explained here are very basic ones regarding trading, but I believe that there must be newbie traders who will be happy to find all the basic information about trading compiled in a single post.

Also, I hope that some of the negative comments do not disappoint you from doing the good work. Remember if only one person gets the benefit from your efforts, you have succeded your target 

In the above posts and in other topics there was a constant recommendation of putting pictures, well in one of my replies I mentioned that I will use pictures in the technical analysis topic series. Currently, the topic V4 of this series is pending almost complied but I will post them regularly after EID days. Probably from next week. Currently, it's Ramzan and busy days so posting a full topic is not possible for me yet. Moving on next to links I haven't understood what do you mean by the links, is it source links of the picture or references I will try to add both of them.


Well, thanks for the appreciation I will try to cover this side up too but a little bit hard to post any updates soon at least for this week probably from Monday things will be back in action with a new determination.

I really appreciate your efforts for making such a good and simple guide for newbie traders. You have mentioned in your post that you recommend newbies to start with swing trading, that's a good tip, but you should also tell them to buy only when prices are low.

Many new traders give up on trading when they start trading without any proper knowledge of trading, and invest their capital in coins when the market is pumping to high prices. Only a few of them will make profit in such situations. Most of those new traders will lose 1/3 of their portfolio when market suddenly goes bearish.

Another good tip for new traders is to trade only Bitcoin or reputed altcoins that are not highly volatile. There are so many pump and dump coins which can be profitable for exchanges as many greedy traders will buy those coins when they see those coins pumping 200% or more in 24 hours, and lose half of their capital overnight. Those highly volatile coins are riskiest for new traders and they should avoid them at any cost.



Your trading plan is quite interesting, and very well working plan for many traders. But it would be far better if you could expand your plan by giving some detailed examples at different price ranges. That way the newbies can learn even more from such a good plan.

I totally appreciate the efforts you have poured in here.
Just like hugblack has said, take their recommendation.  I would like to see you take it up as a challenge and create a trading tips and suggestion topic only for bitcoin. I think it will be of great value to the community.
Remember to throw in some pictures as well and do not forget to add links.

On the contrary, the topic is easy, any information you learned, open Notepad and leave the link there, when there are a lot of references in your topic, it is more valuable than a topic rather than a reference.

All in all, don't give up, you're off to a good start and a little help will make your topic perfect.
The most important thing is not to stop.

Proposal accepted 
Anyway, I was going to write the next part but I realized that this not gonna as you said people use audio-video content. So better to provide good references rather than explain all in content. For the Sources dear I am not using Imgaes and also the whole content is a type of summary of my learnings so I can't point out the sources.

I use to try my best to shorten the Size of topics still the intersection of the users is very minimal as compared to the "Hot topic stupid questions by newbies" Haha not angry just trying to figure out how I can increase the reach of topics.

My next Plan is to post Only 1 topic each week with minimal size and good references. Next t it will compile my all topic's links to 1 topic and then I will make sure to keep that topic with all links active. This is the only way I can go for now. I am still consistent and hopeful to end this basic series in the coming 2 topics. Because of the basic overview nowadays everyone is used to it and then I am planning to start charts-related topics.

You must have invested a lot of time into putting this together and I very much appreciate that. You recommending Twitter as a news source to a newbie might be unhelpful though and you also talked about following Crypto influencers that are usually paid to promote a project, that's dangerous. You should be specific on Crypto influencers in Twitter so that they don't follow the wrong ones.

I think CMC and Coingecko do provide real-time reliable news that should be use with caution. I am not an expert trader and I prefer trading on spot market.

I don't know about others, but I don't like this type of topic because most of the information will be collected from many sources from the Internet, and given that you do not mention the sources below (which is not a good reason), we cannot evaluate the quality of the topic, especially since you created a lot of it in a short time.
Secondly, beginners will get bored when they read large blocks, as most of us will ignore that, or at least I will, since I love audio content or educational videos.

Proposals:

 - I really appreciate your effort but you can start by mentioning the sources below or try to add them.
 - Adding photos, videos or gifs will be useful.
 - Trying to put forward a Tips and Suggestions for Bitcoin only, not just general ideas that are used in trading in general.
 - Reduce the size of topics.

Hi, dear community,

I am going to start a small series of posts around 3 or 4 posts where I will guide newbies on how to trade what are my suggestions and types of trading etc. This topic is gonna cover the following things;

---

Table of Content

► Types of Trading
► Nebiew to trading which trading should be chosen?
► Recommended Apps & Tools
► My Recommended Trading Plan For You

---

Next part Links

1. New to Trading - Tips and Suggestions (V1) Getting Started Full Guide
2. CEXs vs DEXs & Spot vs Future - Tips and Suggestions (V2)
3. Analysis & its Types - Importance of Analysis in Trading (V3)
4. Tips for Descriptive and Sentimental Analysis (V4)

---

Types of Trading

Trading type can be divided on the basis of the time frame and on the basis of the trading approach or you can say that trading nature.

Trading by nature/approach: In this type of trading we decide our approach that how we want to trade using our own funds which is called spot trading. Trading using future contracts and taking leverage on our funds is called future trading. These two are basic approaches we use in crypto trading and I think the basic overview is enough. There are different types of markets (Crypto, forex, stocks, etc)where we can trades but the basics are the same in every type of trading market such as patterns, and time frames, the approach of analysis.

Trading by Time frame: On a time frame basis we can basically divide the market into 4 major categories and each category holds a completely different trading strategy and requirement to start so let's start the types are Day trading, Scalping, Swing and Position Holding.

▸Day Trading: Day trading is the most common time frame for trading in the crypto market, I will recommend this type of trading to intermediate-experienced traders, In day trading with spot market trading you can start with even 100$ and it's not a big amount in my view for getting started will a side business.

▸Scalping: Scalping is a type of trading on the basis of the time frame in which multiple trades are done in a short period of time this type of trading is approached by big investors and experts, I will not recommend this type of trading to the newbies. Also, the requirements are high as I mentioned that it is targeted by the big investors so if you really want to join you need big capital and good analysis and experience.

▸Position Holding: This type of trading is based on a long time span such as holding the trade from weeks to months this type of trading is also known as Investment holding. This is the most preferred type of trading for the newbie who is completely newborn and doesn't have much time for analysis and learning the technical stuff. They can simply do a quick overview of the market and then create their own strategy for trading such as DCA and in-type. You can start it with most minimum capital required even by 1$ per day to maximize whatever you have.

▸Swing Swing trading is based on the time frame from holding a posting from a day to a week. I will recommend this type of trading to newcomers as they can gain experience in this type of trading with lower risks and lower initial capital even with 20$ to 30$. You can learn all the technical analysis and how to use tools using this type of trade its slow but non-risky.

Ending words  

You are a newbie and you have small initial capital you have no experience my first recommendation to you is to go with the swing trading time frame which can be a good option for you in spot and demo for gaining experience after that you can directly jump into any type of trading except Scalping, I will not recommend scalping to you as it's for the most experienced and High capital holders so we can go into it after 2 to 3 years experience qualifications.

---

Nebiew to trading which trading category should be chosen?

Here from the trading category my concern is related to platform and investment approaches such as centralized or decentralized, spot or future for the frequently asked question such as why should we choose CEXs or DEXs? and Why should we prefer spot trading? what are the risks? all these questions I will cover in the next part of the series as mentioned at the end and I will add a link to the topic at the end once I created it.

So moving onto the main concern I think we are doing it all for the newbies so I will refer you to work with a Centralized trading platform and go for the spot trading. Why and How all such type of explanation I will give in the next part? So our primary concern is we will use a centralized trading platform and Spot trading to gain experience after that we can switch freely.

---

Recommended Apps & Tools

To trade efficiently we need some tools and applications which will help us trade so I will recommend some applications and tools that will help newcomers in trading. We need quick updates and News, we need to track market values of assets from time to time we need tools to analyze assets' potential we need a platform to trade.

Here I will directly recommend links and APP names with a small description

►Trading Platform: I will recommend Binance for getting started with trading as Binance is the leading crypto trading platform with a variety of features. as I have already mentioned it's another topic that you should not use centralized platforms I will explain it next topic.

►Economic Calander: This is very important to get updated with the upcoming events so we can design our strategy for trading in the coming days I will recommend CoinMarketCal and CryptoSlate.

►Market Tracker: Market tracker is very important we can use Binance also for tracking volume and prices but a dedicated tracker is important it comes with a lot of additional features and I will recommend Coingecko and CMC both are good but I will prefer coingecko. In the tracker you can directly manage your total portfolio you can track PNL and loss in each and every single transaction you have updated.

►News Source: This is very important as news and updates put a major impact in a small time frame market and you can use individual social media for every asset. I will recommend following Twitter crypto influencers also Crypto Panic.

other sites and tools direct links

►https://www.coinglass.com/
►https://messari.io/
►https://glassnode.com
►https://cryptopanic.com/

---

My Recomended Trading Plan For You

So diversification of the funds is very important in trading I will try to help you by providing an overview of the fund's management which can help you in trading. For that let's consider you have 100$ and you want to start trading you are going with scalping and Day trading, I will recommend you diversify your 100$ and use 40% of the funds and take 4 trades a day or week for the trades and 25% for each trade form the 40% funds, Hold 30% in stablecoins for the emergency such as sudden dump in market. use the remaining 30% of the total fund to recover losses in the trading funds. Keep it simple never go all in starting time book a small profit to gain experience and after that, your journey will boom InshaAllah.

Rest of the things I will cover in the coming posts and in the series.

The analysis is very important for trading and in 3rd or 4th part I will try to cover up the Analysis and its types in detail. It might take time but I will try my best to post one daily 1 part to end it in the current week.

► Upcoming Topic (New to Trading - Tips and Suggestions (V1) CEXs vs DEXs & Spot vs Future)