You’re only burning money on the trading fees with your small trade. You can earn more if you will just buy and hold for a week rather than continuously doing small trade since your gain is just small as the fee you are using per trade. For that small capital of yours, I suggest to you to trade in long term basis or add some small leverage if you want to earn good profit that equivalent to your waiting time.
The time and effort that you put on that trade is not worthy for a 0.51$ profit for a week mate. I’d rather focus on my job and have an overtime pay compared to that small return that requires too much of my time.
Topic: Newbie - need your advice after first trades (image joined) thnk you in advance - page 3. (Read 432 times)
January 09, 2023, 07:45:09 AM
January 09, 2023, 07:32:55 AM
Maybe this would help you out in your journey as these are my go-to resources when learning about trading!
https://www.reddit.com/r/RealDayTrading/ - Though the strategy they are using is mainly applied in trading stocks, people in this subreddit still apply the same strategy (Relative Strength/Weakness vs SPY or BTC) in crypto. Plus, this is the only resource I have seen where people generously share their trading experiences/journey most articulately and FREE.
https://github.com/SpiralDevelopment/Awesome-Crypto-Trading - Just to get your feet wet with the basics (e.g., SnR, trends, indicators).
You are incredibly fortunate that you didn't lose money on your first trades. And I think this is the ideal method to become familiar with the platform and tools you are using while also cutting the learning curve. Additionally, consider educating yourself in risk management to get a better concept of how to manage your bankroll in line with your trading strategy and risk appetite.
https://www.reddit.com/r/RealDayTrading/ - Though the strategy they are using is mainly applied in trading stocks, people in this subreddit still apply the same strategy (Relative Strength/Weakness vs SPY or BTC) in crypto. Plus, this is the only resource I have seen where people generously share their trading experiences/journey most articulately and FREE.
https://github.com/SpiralDevelopment/Awesome-Crypto-Trading - Just to get your feet wet with the basics (e.g., SnR, trends, indicators).
You are incredibly fortunate that you didn't lose money on your first trades. And I think this is the ideal method to become familiar with the platform and tools you are using while also cutting the learning curve. Additionally, consider educating yourself in risk management to get a better concept of how to manage your bankroll in line with your trading strategy and risk appetite.
Thanks Maus0728,
i will take time to see all of those.
i appreciate your feedback
January 09, 2023, 07:27:12 AM
Maybe this would help you out in your journey as these are my go-to resources when learning about trading!
https://www.reddit.com/r/RealDayTrading/ - Though the strategy they are using is mainly applied in trading stocks, people in this subreddit still apply the same strategy (Relative Strength/Weakness vs SPY or BTC) in crypto. Plus, this is the only resource I have seen where people generously share their trading experiences/journey most articulately and FREE.
https://github.com/SpiralDevelopment/Awesome-Crypto-Trading - Just to get your feet wet with the basics (e.g., SnR, trends, indicators).
You are incredibly fortunate that you didn't lose money on your first trades. And I think this is the ideal method to become familiar with the platform and tools you are using while also cutting the learning curve. Additionally, consider educating yourself in risk management to get a better concept of how to manage your bankroll in line with your trading strategy and risk appetite.
https://www.reddit.com/r/RealDayTrading/ - Though the strategy they are using is mainly applied in trading stocks, people in this subreddit still apply the same strategy (Relative Strength/Weakness vs SPY or BTC) in crypto. Plus, this is the only resource I have seen where people generously share their trading experiences/journey most articulately and FREE.
https://github.com/SpiralDevelopment/Awesome-Crypto-Trading - Just to get your feet wet with the basics (e.g., SnR, trends, indicators).
You are incredibly fortunate that you didn't lose money on your first trades. And I think this is the ideal method to become familiar with the platform and tools you are using while also cutting the learning curve. Additionally, consider educating yourself in risk management to get a better concept of how to manage your bankroll in line with your trading strategy and risk appetite.
January 09, 2023, 07:18:35 AM
That's cool mate. But you are not quitting your job in order to become a trader right? You should only do trades in your free time. If you are getting confident after a week of trading then maybe try to increase your capital to $100. Always start small and only increase it little by little depending on your confidence. You can feel it anyways but do not get too overexcited because the crypto market can swing big time. A single losing trade can erase your whole month of hard-earned profit. Take your time because there is no such thing as late when it comes to trading. There are always opportunities when you become a good trader.
no, i am not . it's an old interest that i wanna explore more, for my curiosity and for knowledge . i wanna discipline myself and discover people in this field
i really appreciate how all of you feedback me,
i will see when i will increase my capital, but at this step , i think i am not ready yet and have much more to learn
January 09, 2023, 07:07:58 AM
That's cool mate. But you are not quitting your job in order to become a trader right? You should only do trades in your free time. If you are getting confident after a week of trading then maybe try to increase your capital to $100. Always start small and only increase it little by little depending on your confidence. You can feel it anyways but do not get too overexcited because the crypto market can swing big time. A single losing trade can erase your whole month of hard-earned profit. Take your time because there is no such thing as late when it comes to trading. There are always opportunities when you become a good trader.
January 09, 2023, 06:38:58 AM
So you only make $0.51 from 6-7 days with initial deposit $26? it's mean +0.020% for 6-7 days, it's less than bank interest account APY.
I will say trading isn't for you because most people can earn $0.51 in less than 6-7 days, even how poor the country he live is. I don't really understand why you need to trade with very low risk if investment is quite similar with that, you only need to hold your Bitcoin until the price reach very high in the next few years.
I will say trading isn't for you because most people can earn $0.51 in less than 6-7 days, even how poor the country he live is. I don't really understand why you need to trade with very low risk if investment is quite similar with that, you only need to hold your Bitcoin until the price reach very high in the next few years.
Not sure why you'd immediately think that trading is not for you just because you barely made anything in 7 days. I'm pretty sure it's going to take A LOT more than 7 days to learn the craft.
If anything, OP is lucky enough to not lose money(as most people do).
January 09, 2023, 06:33:50 AM
With only $26 is capital, you should not trade. Hold it and take profit when Bitcoin increases 20% or 30%.
But he is just using the amount to learn how to trade and perhaps test a strategy. I don't see anything wrong with someone using $26 to learn how to trade, or even $10.In fact, if anything, OP did the right thing for a start.
You don't want to put all your life savings trading, yet you know nothing about it. This is where they say over 90% of the people fail to succeed in trading in the first attempts. I do have friends who went in to trade with over $10,000 and after getting burned in the first attempt, they don't even want to hear anything to do with trading or cryptocurrencies
Quote
Trading with only $26 is wasting your time that can be used to learn more about Bitcoin, blockchain and hunt cryptocurrency jobs. When you get jobs in cryptocurrency, you can receive salary from your jobs and use it to buy Bitcoin.
I don't see it as a waste of time. I also remember starting small. I learnt a lot.yes, the learning process is what i am looking here at this point , seeing how the crypto moves, learning more about the world of trading
and sharing my progress - if i can call that - is a way for me to get landmark and exchange with people
i appreciate all your feedbacks
January 09, 2023, 06:23:26 AM
With only $26 is capital, you should not trade. Hold it and take profit when Bitcoin increases 20% or 30%.
But he is just using the amount to learn how to trade and perhaps test a strategy. I don't see anything wrong with someone using $26 to learn how to trade, or even $10.In fact, if anything, OP did the right thing for a start.
You don't want to put all your life savings trading, yet you know nothing about it. This is where they say over 90% of the people fail to succeed in trading in the first attempts. I do have friends who went in to trade with over $10,000 and after getting burned in the first attempt, they don't even want to hear anything to do with trading or cryptocurrencies
Quote
Trading with only $26 is wasting your time that can be used to learn more about Bitcoin, blockchain and hunt cryptocurrency jobs. When you get jobs in cryptocurrency, you can receive salary from your jobs and use it to buy Bitcoin.
I don't see it as a waste of time. I also remember starting small. I learnt a lot. January 09, 2023, 06:03:06 AM
hi everyone,
hope you are all doing well
just landed on the forum as i was searching for some mates to exchanges and discuss as i started - finally - to trade
started from 26$ basis jsut to get to know more about the movement and so on
, ended up to 26.51 after 6-7 days of very low risk trading
wanted to know your thoughts about those trades of mine ,
advices and tips are very welcome
thank you in advance all
hope to evolve with you all
Cheers
[img https://ibb.co/Kw6gSGj]
OP Thank you for landing on the Bitcoin Forum. I see you started trading by landing on cryptocurrency. There are some trading strategies that you may not know properly. That's why in just 6-7 days you earned 0.51$ from 26$. It is not enough income for a man from trading platform. This way you can invest without trading. If you invest and keep it for a long time, you can be more profitable than the trading platform. Investing is much less risky than trading.hope you are all doing well
just landed on the forum as i was searching for some mates to exchanges and discuss as i started - finally - to trade
started from 26$ basis jsut to get to know more about the movement and so on
, ended up to 26.51 after 6-7 days of very low risk trading
wanted to know your thoughts about those trades of mine ,
advices and tips are very welcome
thank you in advance all
hope to evolve with you all
Cheers
[img https://ibb.co/Kw6gSGj]
yes, i have lack of knowledge clearly , that's why i am curious to learn / know the system behind trading
i have already some investings beside but i am really curious about how trading system works
i am starving of knowledge about trading which fascinating me
thank you very much for the welcome btw
January 09, 2023, 05:54:26 AM
With only $26 is capital, you should not trade. Hold it and take profit when Bitcoin increases 20% or 30%.
Trading with only $26 is wasting your time that can be used to learn more about Bitcoin, blockchain and hunt cryptocurrency jobs. When you get jobs in cryptocurrency, you can receive salary from your jobs and use it to buy Bitcoin.
Learning, working and buying more Bitcoin is better than trading with $26. 0% trading fee won't be applied forever.
[Information] Online Job Websites about Crypto and that pays in Crypto
Trading with only $26 is wasting your time that can be used to learn more about Bitcoin, blockchain and hunt cryptocurrency jobs. When you get jobs in cryptocurrency, you can receive salary from your jobs and use it to buy Bitcoin.
Learning, working and buying more Bitcoin is better than trading with $26. 0% trading fee won't be applied forever.
[Information] Online Job Websites about Crypto and that pays in Crypto
January 09, 2023, 05:52:19 AM
hi everyone,
hope you are all doing well
just landed on the forum as i was searching for some mates to exchanges and discuss as i started - finally - to trade
started from 26$ basis jsut to get to know more about the movement and so on
, ended up to 26.51 after 6-7 days of very low risk trading
wanted to know your thoughts about those trades of mine ,
advices and tips are very welcome
thank you in advance all
hope to evolve with you all
Cheers
[img https://ibb.co/Kw6gSGj]
OP Thank you for landing on the Bitcoin Forum. I see you started trading by landing on cryptocurrency. There are some trading strategies that you may not know properly. That's why in just 6-7 days you earned 0.51$ from 26$. It is not enough income for a man from trading platform. This way you can invest without trading. If you invest and keep it for a long time, you can be more profitable than the trading platform. Investing is much less risky than trading. hope you are all doing well
just landed on the forum as i was searching for some mates to exchanges and discuss as i started - finally - to trade
started from 26$ basis jsut to get to know more about the movement and so on
, ended up to 26.51 after 6-7 days of very low risk trading
wanted to know your thoughts about those trades of mine ,
advices and tips are very welcome
thank you in advance all
hope to evolve with you all
Cheers
[img https://ibb.co/Kw6gSGj]
January 09, 2023, 05:28:24 AM
Trading is not easy, especially for a newbie. I applaud you on your current progress. Otherwise, so many people blow off the $26 in just a matter of hours or days. People who said that trading is not for you just because you made $0.51 after 7 days and yet you are still a newbie are probably not giving you a good piece of advice. They think trading is all about making x10 in a week, which is very wrong.
Number one thing I noticed is that your risk management game seems good. Now what you are going to work on and improve is the risk reward ratio so that you can improve your profits.
Also think about a scenario where Binance stopped their zero trading fees promo. How do you go about making sure the trading fees do not eat up your profits since you make so many trades vs small profit.
I encourage you to continue trading while you learn. Stick to your working strategy and keep improving it where necessary
Number one thing I noticed is that your risk management game seems good. Now what you are going to work on and improve is the risk reward ratio so that you can improve your profits.
Also think about a scenario where Binance stopped their zero trading fees promo. How do you go about making sure the trading fees do not eat up your profits since you make so many trades vs small profit.
I encourage you to continue trading while you learn. Stick to your working strategy and keep improving it where necessary
yes, this scenario where they will end up this 0% fee is what i fear and that's where i have to learn a more efficient reward ratio
but thank you, i really didn't have landmark to know where i am at this point , so all your (you all ) point of view are very welcome
thanks again
January 09, 2023, 05:24:35 AM
Trading is not easy, especially for a newbie. I applaud you on your current progress. Otherwise, so many people blow off the $26 in just a matter of hours or days. People who said that trading is not for you just because you made $0.51 after 7 days and yet you are still a newbie are probably not giving you a good piece of advice. They think trading is all about making x10 in a week, which is very wrong.
Number one thing I noticed is that your risk management game seems good. Now what you are going to work on and improve is the risk reward ratio so that you can improve your profits.
Also think about a scenario where Binance stopped their zero trading fees promo. How do you go about making sure the trading fees do not eat up your profits since you make so many trades vs small profit.
I encourage you to continue trading while you learn. Stick to your working strategy and keep improving it where necessary
Number one thing I noticed is that your risk management game seems good. Now what you are going to work on and improve is the risk reward ratio so that you can improve your profits.
Also think about a scenario where Binance stopped their zero trading fees promo. How do you go about making sure the trading fees do not eat up your profits since you make so many trades vs small profit.
I encourage you to continue trading while you learn. Stick to your working strategy and keep improving it where necessary
January 09, 2023, 05:18:13 AM
So you only make $0.51 from 6-7 days with initial deposit $26? it's mean +0.020% for 6-7 days, it's less than bank interest account APY.
0.51$ out of 26$ are 2% - in seven days or 0.3% a day (not 0.02%) - if I calculate right, this will give you 300% as APY. That's much more than my bank gives as APY. For me it sounds good.
And you choose a pair in Binance without fees right now even as taker. Clever. Buy low and sell high. Or higher. That's the rule you follow and it's a good one. I would say: just continue and have fun trading.
thanks for your feedback, i really appreciate
i am totally newbie and don't know more about strategy so, i try to dive in on my own ,
as you say , to get fun on trading and discover it more and more
thank you again for your point of view
January 09, 2023, 04:57:56 AM
So you only make $0.51 from 6-7 days with initial deposit $26? it's mean +0.020% for 6-7 days, it's less than bank interest account APY.
0.51$ out of 26$ are 2% - in seven days or 0.3% a day (not 0.02%) - if I calculate right, this will give you 300% as APY. That's much more than my bank gives as APY. For me it sounds good.
And you choose a pair in Binance without fees right now even as taker. Clever. Buy low and sell high. Or higher. That's the rule you follow and it's a good one. I would say: just continue and have fun trading.
January 09, 2023, 03:52:32 AM
So you only make $0.51 from 6-7 days with initial deposit $26? it's mean +0.020% for 6-7 days, it's less than bank interest account APY.
I will say trading isn't for you because most people can earn $0.51 in less than 6-7 days, even how poor the country he live is. I don't really understand why you need to trade with very low risk if investment is quite similar with that, you only need to hold your Bitcoin until the price reach very high in the next few years.
I will say trading isn't for you because most people can earn $0.51 in less than 6-7 days, even how poor the country he live is. I don't really understand why you need to trade with very low risk if investment is quite similar with that, you only need to hold your Bitcoin until the price reach very high in the next few years.
thanks for your response ,
yes by this time, i do not mean to make profit but just really to see how it works , the tools, the environment
i know that there is a very loooong way to go through
i appreciate your feedback
if you have advice , i'm totally up to get it
January 09, 2023, 03:31:09 AM
So you only make $0.51 from 6-7 days with initial deposit $26? it's mean +0.020% for 6-7 days, it's less than bank interest account APY.
I will say trading isn't for you because most people can earn $0.51 in less than 6-7 days, even how poor the country he live is. I don't really understand why you need to trade with very low risk if investment is quite similar with that, you only need to hold your Bitcoin until the price reach very high in the next few years.
I will say trading isn't for you because most people can earn $0.51 in less than 6-7 days, even how poor the country he live is. I don't really understand why you need to trade with very low risk if investment is quite similar with that, you only need to hold your Bitcoin until the price reach very high in the next few years.
January 09, 2023, 03:06:12 AM
hi everyone,
hope you are all doing well
just landed on the forum as i was searching for some mates to exchanges and discuss as i started - finally - to trade
started from 26$ basis jsut to get to know more about the movement and so on
, ended up to 26.51 after 6-7 days of very low risk trading
wanted to know your thoughts about those trades of mine ,
advices and tips are very welcome
thank you in advance all
hope to evolve with you all
Cheers
[img https://ibb.co/Kw6gSGj]
hope you are all doing well
just landed on the forum as i was searching for some mates to exchanges and discuss as i started - finally - to trade
started from 26$ basis jsut to get to know more about the movement and so on
, ended up to 26.51 after 6-7 days of very low risk trading
wanted to know your thoughts about those trades of mine ,
advices and tips are very welcome
thank you in advance all
hope to evolve with you all
Cheers
[img https://ibb.co/Kw6gSGj]
Jump to: