Topic: newbie with newbie questions - page 2. (Read 529 times)

you are on point and that's why I stick to the principle of using any amount you can lose to trade cos practical trials and errors is a very good way to start learning and developing trading skills. Anyone giving signal is human who can make a wrong call anytime. So it's better to be accountable to your own mistake and learn from it to become better. Demo trading features could be another interesting features to explore.

Let me emphasise on the signal aspect, because its very obvious that signal can be achieved through a group or if you are knowledgeable enough you can make use of graph chart of market to know when the market is promising or when the market is against, so therefore the movement of candle sticks determined if the market is promising or not, because I believe that those people that gives signal is not hundred percent accurate and they are not dependable, but if you acquire the knowledge of trading both manually and with Internet you can as well predict well by mastering the movement of candle sticks of the chart

Yeah, exchanges plays vital role in trader's success particularly ensuring healthy liquidity for better trading experience.
BTW is that your current team or are you joining the team?

Yeah you're right. but the demo trading is what has my attention atm cos the unending bear market isn't funny on my PF.

Exchanges play a vital role in deciding the level of success a trader reaches, so it's important to be selective and be clear on the criteria they must meet for you. I understand your chioce of exchange since they meet your criteria, interestingly I found this event ongoing on the exchange, https://www.bgportable.com/en/events/kcgi/spot?teamId=1409&uuid=8481325457&clacCode=TXHH78Y7 KCGI trading competition one of the top trading competitions in 2023

Hello, to choose an exchange, you'll need one with low fees and ample liquidity, plus access to a good variety of coins to trade. Bitget fulfills these criteria for me but sometime I also explore  other top 5 centralized exchange particularly if the coin I want to trade isn't available on my preferred exchange. As for the second question, I check the volume profile of coins within the past 24 hours. Then, I proceed to Coingecko/CMC to see if there's any news related to the one that gets my interest. I'm more of a daily trader because I don't have the patience for swings, ahah. Therefore, I use the 1-hour to 15-minute timeframe for analysis.

P.S. Relying on signals can slow your development as a trader. Remember to DYOR.

You’re probably having this objectivity towards trading because you’re well aware that good traders make a lot of money and this has driven your caution from the fact that. You could be met with a lot of loses by taking bad trades or not being well grounded on trading. This has been the case for most especially newbie traders and I don’t mean newbies as on the forum but, newbies to trading in general. It always gets the most of you and so your question.

You can trade on virtually almost any exchange but the top of it all has been Binance. You have Okx, Bitfinex, Huobi, Coinbase, Kucoin and the rest of them. Still, you’ve got to study the platform that could give you the right leverage before choosing one.

Know that trading is something that takes time to master and as such, you don’t have to go into trading if you are dependent on signals. Your always better of generating your own signals and that would mean, you getting to study all you could of trading and best your strategies to making profit off the market.

I try answer as possibility based on my knowledge with OP question, first for exchange market I have active on several kinds exchange from Kucoin, Binance, Huobi and Gate io but most active for trading I use Binance. You can trade many kinds coins in Binance and don't forget to submit or verify KYC firstly before depositing fund and trade coins there. For processing fund to be fiat or cash money have ability trade trough P2P and sell your stable coins there without need withdrawing to your country exchange market.

For signal, I don't think worth for joining signal telegram group what ever kinds is paid or free telegram channel because not guarantee with their signal sharing worth based on their prediction, better research by your own self when trading in any coins.

As a newbie you need to know everything and then trading later you can be successful. So you must first analyze the market judgment so that you can profit in the future accordingly.
Binance is one of the most popular exchanges you can start trading here most of the investors trade here.
If you think that trading is very easy then you would be wrong because you definitely need skills to trade. If you can't do good analysis about the market then you can never make profit but face loss. In that case you should always take advice from those who are successful in trading before starting trading then you can easily make profit by trading.

My answer for this is not to rely on signal, maybe sometimes you can but you need to verify it from your analysis.
I tried before  joining on a signal group and they provide free signal, but for me, I also analyze why the come up on that trade and especially because they also explain why they come up on that trade, it's a signal but at the same time you get lesson, you can learn.

Glad to hear that you actually have a lot of experience in trading. And it seems you're a pretty careful person. And that is an important point that all of us must always have before doing anything, including before becoming a crypto trader. Learn more beforehand and have thorough preparation. So that it can make us able to minimize the level of losses in trading activities later. But most important after insight is experience. And yes the crypto market moves fast and trading is active 24 hours a day. So it is also important to manage our own time in carrying out trading activities.

If you learn how to trade in the right way without been too desperate to make quick money,  learning more about the Market will not be a problem to us and all we shall care about is to learn more and earn more because we have the passion for it.

There are some persons that have thought that trading is very easy and when they got into the business they will become surprise with loses as a result of not having enough skill to understand the market. We don't need a signal to trade the market, once we can analyse the market, understanding how everything works will not be a problem.

There's no magic in crypto trading and all the successful crypto traders you see achieve their success through hard work and dedication.. You can read the  trading Discussion to learn through the forum user post.

The exchange someone uses may not be good for people from your location based on legal and tax regulations that have to do with your country or jurisdiction. I will advise you to start trading with an exchange that has a good user interface and trading experience

No signal is reliable and you also need to be careful of getting information through Telegram. What you need is to first understand the concept of the crypto market price, things that influence price, technical with fundamental analysis, risk management, and choose the right exchange and the right coin. After all this what you need is continuous learning because things change in the market. If you can master everything I just said it will help your crypto trading journey.

Each of us has their own preference. Maybe for you it was HODLing but to him and to others, it was trading. Binance is the biggest so obviously a lot of traders/people are using it but there are still other exchanges out there which are also trusted and have exciting features which are not found in Binance. We shouldn't be afraid to try them as well.

In trading, it was usually the technical analysis is the one that is being used the most rather than the fundamental analysis but I think both can be helpful for us so why not? Learning things can take time if we are a slow learner but it's okay, at least we don't rush and don't take learning seriously as that can be a hindrance to our success here in trading. The picture that you attached seems bias. I don't think Holding is that easy. The pic that I have uploaded below ⤵ must be the true illustration of HODLing.

I trade on the crypto market, the method is definitely the same as most other crypto traders. Because if you take it simply, to trade in crypto, basically buy when the price goes down and sell when the price goes up. This is the basis, be it in the short term, medium term and long term. But if taken in detail, trading on the crypto market is indeed quite draining. Because it requires analysis (fundamental, sentimental, and technical) of the crypto asset that you want to buy.
For now I use exchange or market binance. The reason I use Binance, is because it is currently the largest crypto exchange in the world, and has a very large trading volume. So if it's a matter of trust and about the features in it. In my opinion, Binance is very reliable and the features in it are very complete.
What you mentioned is called copy trading, and you can indeed find copy trading, one of which is in the Telegram group. But to enter the group, you must pay in advance according to the amount requested by the group administrator. And as for the results, I also don't know for sure, because I've never tried it, so I just know. But most likely using the copy trading platform, in my opinion it is reliable. That's because the platform contains people who are experts and competent in crypto trading.

There are lots of exchanges that you can use when trading, but make sure you are using a reputable exchange. Don’t trade on exchanges with low volume, most of the exchanges with low volume are full of shitcoins and pump-and-dump coins, which can easily trap your money. Also, anything can happen to the exchange at any moment, and you might end up losing your money. I'm not saying exchanges with high volumes can’t also disappoint their customers, but it’s better to use exchanges with high volumes than ones with low volumes.


I don’t get my signal from anywhere. I do my analysis myself when trading, if you want to be a real trader, then learn to do your analysis yourself and don’t depend on any signal from anywhere. Most telegram groups providing signals are just fake, they are just trying to make money because you will be asked to pay before you can be added to the group, and they will end up providing fake signals. So you should make sure you provide signals for yourself, you don’t have to allow anyone to make decisions for you, especially when money is involved.

Guys thank you all for great advice. Yea well I graduated from Economics at the University but of course they don't teach you anything in schools, just how to work at the bank and calculate interest rates. I registered at eToro in 2009 and did some copy trading but lost, so I stay away from it. Then started studying Forex in the times of virus lock down  since I didn't have anything better to do, but didn't go further that Demo. Now same with Crypto in the last few months getting knowledge about it, learning the rules still on Demo.

you can use your local exchange that accepts your fiat withdrawal. for beginners, it helps you more. so you can make a deposit from your bank account to the exchange.
I use Binance to trade, although I have reduced my trading activity at the moment.

you have to choose the right asset, each trader may have their own way of selecting assets. even some only trade BTC/USDT. There is a goal for every trade. such as taking daily profits or growing accumulated assets.
I once followed the signal trading channel. but now I don't trust signals much. it does not help you instantly to get profit. just manage your skills first.

1. Use well known exchanges. Don't store your coins there for long term. If you are done trading, send it back to your own wallet where you control the keys. No matter how "well known" the exchange is and how much they boast that they are fully secured and insured, there are always chances that the exchange might get hacked and you might be left with nothing.

2. Go to coinmarketcap or another similar website. Look at the marketcap, volume and other parameters. Decide for yourself. Don't join those "telegram" groups. They will most likely scam you or shill you into investing in some shitcoins that they will pump and dump.

I am a trader but not well trader. Bit i am profited from trading. Training mainly depend on market analysis and greedy controlling and fresh mentality etc i think. And to be a good trader we need huge knowledge about trading. So mainly you need learn properly about trading.

1. I am using Binance exchanger. It is best exchanger in the crypto would. You can create a account on Binance and complete KYC. Then it will be very secure for your valuable fund. Huge volume in this exchanger.

2. And i don’t tell you to follow any signal. I think you need huge knowledge and experience about trading. Own decision is better for trading i think. I also take decision myself. And getting profit from trading. Basically future trading is comfortable to me. And sculping is better i think.

Overall i will tell you to gather knowledge about trading. Learn more and more about cryptocurrency market and trading then you will understand all trick about trading. And you can study about it on this Forum it will be very helpful for you.