Topic: newbie with newbie questions - page 3. (Read 590 times)

This is a very important topic discussed, I use Binance and kucoin Exchange.  But I am very comfortable with Binance Exchange.  There are many exchangers in Cryptocurrency but I trust Binance and it seems very reliable to me.  No one can give correct signal in cryptocurrency which will definitely bring you income. Don't rely on any telegram group for trading information as most telegram groups give fake news.  To start trading you must first have your own knowledge and you have to do a good analysis and then you trade with the advice of an experienced person.

As a newbie, I will not advise you to start up your cryptocurrency journey with trading because it may look discouraging if you try to trade and you keep losing, maybe in a few times, because you may have not gotten enough knowledge about trading. So I will just advise you to start up your crypto journey by buying some amount of Bitcoin and starting to hold it before you start your trading journey, so that can be as your backup.
 
Know that trading is very risky, and it seriously requires good knowledge before you can be a successful trader. It also requires dedication of time because you will always do great analysis before you can buy the coins to trade. and looking for signals is not a advisable because almost all those signals always lead to wrong information, and again, you have to pay for it before they give you the signal,so the best way to trade is to get proper knowledge about it and not to rely on anybody.so as newbie it may tak them more time before they the proper knowledge, which I believe it many of them can't wait and trying trade will not proper may lead to loses of funds.

I used Binance most of the time, and sometimes mexc and more. But stayed on Binance like what I said. For now I don't know in which category I belong because for what I did so far is that when I have the excess money, I bought some of the altcoins that has the potentials in the future. And most likely these coins are on top in the market.

Where I knew when Bitcoin kick its price value in the market these cryptocurrency I bought will surely follow the increase of Bitcoin too. i've seen this several times of Bull run so meaning this will happen its repetition again in the near future.

You can use Binance; this is the most known right now, and most people I know are using it. With the other question about signals, most of the people here are not relying on signals, as they have their own strategy. You won't learn anything if you just rely on signals; you are just making them rich. Just imagine they sent you a signal entry on this price, but you don't know or understand why. It is better to learn it on your own, have a friend coach you, or find a forum about trading that you can ask questions on.

The choice of the exchange platform is of course a reputable one, which won't charge you a lot for a small mistake. At this point, I assume you want a full-featured, active trading platform which today verification might be an indispensable requirement on major exchange platforms.

Determine for yourself by looking at coins with high trading volume and liquidity, you should also confirm that they are by referring to other platforms. Be wary of some shady platforms trying to play fake volume and order numbers.

You can find the list of exchanges here: https://coinmarketcap.com/rankings/exchanges/... They are listed according to rank, and those that are ranked high are the most reputable exchanges. As for trading signals, I suggest you stay away from them if you want to learn and improve your skills. As a beginner, it's important to learn the basics of trading, and you can educate yourself for free using various online platforms. One good example is YouTube.

Just take it slowly as being realistic would lead to more success than just being optimistic without using your experience to succeed.

I am not basically a crypto trader but the advice I would give you is that you should first be well experienced in trading. OP since you are a newbie you need to learn as much about trading as possible so that you don't face losses. You should first start with a small amount of money before starting trading so that you don't go broke if you face losses. And when you start trading you should never take telegram group for signals because there are mostly scam projects giving signals. And if you follow those successful tips then surely you will lose money and you will go broke so you have to take the advice of successful investors.
and you must use Binance Exchange p2p to start trading, it is the most trusted exchange.

I first started using kuCoin, then I switched to Binance. If you're going to trade, choose an exchange that is commonly used of most traders because it is trusted.

I trade using my own analysis and knowledge. I don't rely on signals because it's not reliable. So I suggest for you to fill your mind with knowledge first to have a better understanding about trading. In time, you'll get an accurate answers on these questions after learning it by yourself.

I carry out trading activities on some of the top exchanges such as OKX and Binance. I chose the top exchange because I never had problems with deposits and withdrawals. Well everything always runs smoothly and quickly. About trading signals, I enter many Telegram channels that provide trading signals for free. And I also got that information from someone from this forum. Which is very sincere taught me a few things. I really thank him. And my suggestion is that we must have many telegram channels that provide news information about crypto. Because in trading information is the main thing.

I used varied exchanges both global and my local exchanges.
-Global exchanges: Binance, Kucoin, Bitmart, Uniswap, Pancakeswap
-Local exchanges: Tokocrypto, Indodax

I choose these exchanges because they are most popular exchanges and have no bad issues on transferring my coins. They also have good features and list many coins. Especially for Binance, they have many pairs of national currencies of various countries, including mine. 

I just do my own analysis (both technical and chart analysis), I don't rely on the signal from any sources. I think choosing the coins based on the signals, will be riskier. I ever joined telegram group signals, it didn't work for me. Most of the signals were announced too late, or the signals are to make a hype of certain coins. So, it won't be effective to use for our trading. Anyway, I never used a single method or a single trading style. I will adjust the current trend to determine which will be the most suitable approach.

...so first you screen the coins, how? You get signals from somewhere? Where? 

If I tell you it will invite competition.   
First, every actively traded market bounces. Second, It is very possible to make more from short-term/small moves than trying to hit home runs. Entry points can be difficult to time, you can usually start buying slow and get a better deal asap using limit orders. With experience you can get a feel for when it's time to buy more aggressively, due to a legit chance of missing a big one. Learn to actually Buy Low & Sell High and please don't be stuck thinking HODL is always a good plan. Good luck with your bright future.

I am using Binance and also Tokocrypto (one of local exchanges, especially to cash out crypto to fiat) so far for my trading or other transactions.
They are trusted and reputable, but they are exactly centralized. Both also have familiar displays for me with lots of trading pairs.But actually, I am not doing daily trades so far.

I was doing trading and I was using a vip signal group for trading. But, this didn't work well for me.
I am fully aware because I have not been able to do that, not only can't analyze the market properly but indeed lack knowledge regarding day trades. You could say that at that time I only relied on signals from the group. But it also doesn't work much because I'm often late in or don't do any other real-time management.

The point is that when we want to trade crypto, make sure that we understand in advance what we are going to do, not just relying on signals from certain channels or groups. Make sure we can do TA and FA analysis and equip ourselves with good emotional management. wise risk management, and also really good and free finance. Trading is high risk, so it will be more of challenge.

OP, you clearly aren't really new as opposed to the topic of this discussion and the big terms you used.
Now, I don't do much trading, but I understand it to some degree with a little practice every now and then, and know that you have to firstly let go of the fear of losing your coins, because you will loose some to actually learn of which I did.
It's good to watch out for signals, but having to pay is a bad idea because they are only meant to guide your projection and help one make a better analysis before trading and it's not to show you when and how to make a trade.

Binance is great and it's one of the oldest that most of us use. For starters, it's easy to understand because of its simple features. Bitget is also one of the newest, but for more advanced trading professionals with copy trading and A.i trading bot assistance features.

Well, in trading, you don't have to rely on any telegram group for trading signals or trading information because most of the information on telegram is usually published by some random individuals, probably not even real traders, but they will only want you to pay some fee for the fake signals that they offer. If you want to start trading probably on futures trading, then you can trade Bitcoin, or you can check for other coins or tokens that have been added as trading pairs in the exchange you are using. Then you have to observe how volatile the price of those coins can be before selecting a few pairs that you can trade more often.

If you are good at using indicators, you can then set your indicators and use them to study the price movement before starting a position.

If you are also looking at sport trading, which is just the normal buy and sell for a short-term profit, from the exchange you will be using to carry out your trade, you have to look at the price chart of those coins to know which coin is more volatile and how often the market volatility is for the coin, so you can be able to buy on the low and sell high.

But I can tell you that trading is not so very easy with beginners, you have to invest what you can afford to loose or to be more safe, you can also decide to just keep accumulating Bitcoin and hold.

1. Binance and OkEx - Always stick with the best and current reputable or popular ones which it would really be that saving you up from headaches.Unlike on making use of non-heard exchange platforms or not really that
                                 popular then you are really that prone to possible problems and the worst, you might get scammed.

2.  As a newbie then you should start manual and never ever make yourself in a rush on touching up that signals and those people who are offering those copy trades because its never been worth. If you are really that serious on learning trading then you should start from scratch and dont make yourself getting fooled into those people who are promising with those good number in terms of results and profitability
because this is where those scammers do really take advantage with those noobs who do easily get fooled.

Try to take it slow and surely, losses are inevitable and something that you would be mainly be facing but doesnt mean that it wont really be making you do able to make progress or make yourself better.
Just be sensible and sustain on whatever you would be able to face on.

A good trader is not supposed to depend completely on the signals from another trader without trying to verify it. If you depend on signal groups from Telegram and expect to be a trader for long, it will not work for too long, the group can close down, or the person who makes the analysis and send the signals can be wrong and because of dependence on it, you can lose all you have.

Technical analysis involves analyses of charts. No name like Chart analysis. You have just technical and fundamental analysis.

These are the type of questions that will be answered by itself soon enough when you spend more time around here, and in the crypto world as well. Like you will see which exchange is the biggest (binance) and you will see why people use it, this is not something we should tell you, you will see it yourself, there is a reason why binance is the most used one, and what you should figure out is why.

The TA and FA of a trader will be something that will take times to learn, but you will be able to make that into a reality as well, you will see how it works and you will make some profit using them as well. TA and FA is not simple, its the hardest thing in the crypto world and you should be aware of it without a doubt.

Actually you don't need any additional exchange for trading and you can only use binance exchange if you want. Moreover binance is one of the best popular exchange which can be used from almost all country ip. Also i am not a smart trader so i would like to give you a general advice that you should first follow there who is the king of crypto traders. Take ideas from them then do your own research and try trading when you are ready to take the risk.

I am using Binance and Kucoin at this time. Binance is no 1 exchange having high volume of trading and main reason for choosing is P2P buying/selling because our country haven't regulate crypto and we cannot buy sell through credit card or bank. I am using Binance for big coins while Kucoin for new low supply coins.

actually i am day trader and i am not using any analysing tool. I always look out potential coins which have high volatility and then just wait for price to drop lower point in 24 hours because at this point high volume of buying available and very often coin price push back from this point. i am not experienced user and didn't follow telegram signal, nor using technical analysis. I am risky trader and only trading in high volatile coins which sometimes give me high loss, this why i will not recommend for newbie.

I welcome you to the forum. You have asked quite a lot of questions just for a start. As you have been reading comment, more people have suggested you to use binance exchange, so use it because it is easier to understand what is happening in the trading world from there more than any other exchange. My advise to you is to take things easy because trading involves it own risk. Another advise is don't give someone your money in the name of telegram group or trading for you or you to copy trade. So you can search YouTube for some trading videos.