Topic: Starting as a Trader and Trading Bitcoin - page 2. (Read 684 times)
Today there are a lot of people who want to earn more money some of them do have a job already and some of them just want to have extra money as a student or unemployed for a while just taking some other things need to focus first. While the bitcoin today is rapidly increasing it becomes more and more popular and many people starting to make adaptation and changes to support the use of the bitcoin but not only the bitcoin itself but the whole cryptocurrency also trading are one of the most popular methods of making more income or profit by just having enough knowledge and skills you can now predict the market price of the coin and make a profit but this is not just by predicting always having a good market strategy when is the right time to buy a lot of coins when the market dip and sell immediately when they think they already got a profit. By just a simple technique you can now make a huge income and monthly. Don't mind if you do not get a huge profit always think that profit is a profit no matter what happens.
Have anyone used indicator script from tradest.io?
I’m looking someone who can tell is it really that accurate.
I’m looking someone who can tell is it really that accurate.
Personally, I am not a type of person who likes a lot of introduction, a basic knowledge about bitcoin and how to trade would be enough for me.
To other things, me too but in trading? I guess it will take you more time than what you expected before getting through with it. A simple strategy won't work with all market situation, you must know how to apply every strategy with any market situation, that's what I learned when I began. There are fast learner people who can easily cope up with simple steps but there are also people who isn't that fit for the work however there are way to get to it.All of us started at zero in our cryptocurrency life, we started without even knowing even a single information about market, strategies, technical analysis or any terms that involved in trading. Sometimes, we need more knowledge and seek more information so that we can explore the movement and how trading works in the market. It doesn't mean that because you know the fundamentals and basics in trading, you can always win profit and you will not experiences losses. The key to success and become an effective trader is through practice, experiences and failures. As you learn and learn until you overcome your mistakes, that's the time where you can adapt to the reality and situations in trading. You don't need to hurry up, just take it slowly step by step and you will reach your goal.
I know a lot of people who are interested in making money now more than ever just because of the current situation that we have now. Most of us are in lockdown, and people are starting to need to have that extra income more than ever.
IF you are that person, what would you like to know before starting to dwell into the Trading Space?
The list above is just an example, feel free to make your own.
This can be of help to many too, knowing that some are just starting, and they are waiting to get around to trading. And if you are a new trader, what do you expect in this market?
Of course as they are the necessary equipments that you need in order to earn a profit in trading and lessen the risk of your hard earned money. Trading without learning the basics of trading is like going to a battle without a gun, you will just lost your money without any fight. IF you are that person, what would you like to know before starting to dwell into the Trading Space?
- Do you want to be introduced to Bitcoin first?
- What is Bitcoin?
- How could you make money in Bitcoin?
- Basic Trading strategies
- etc
The list above is just an example, feel free to make your own.
This can be of help to many too, knowing that some are just starting, and they are waiting to get around to trading. And if you are a new trader, what do you expect in this market?
Once you are fully equip already and you think that you are ready to start your first trade then experience will be your next target and make sure that you will not create the same again and again.
In a situation like now where making money is difficult, because the corona virus spreads so fast. Make us required to make money
from home. So one of the solutions is cryptocurrency trading, which I will choose bitcoin for the first coins for trading. I chose bitcoin
because it's the most profitable compared to other coins. The basic strategy that I use is taking 3% profit per day, but I also maintain
the capital that I have by using a 10% stop loss.
from home. So one of the solutions is cryptocurrency trading, which I will choose bitcoin for the first coins for trading. I chose bitcoin
because it's the most profitable compared to other coins. The basic strategy that I use is taking 3% profit per day, but I also maintain
the capital that I have by using a 10% stop loss.
Have anyone used indicator script from tradest.io?
I’m looking someone who can tell is it really that accurate.
I’m looking someone who can tell is it really that accurate.
There is something very important to keep in mind that newbies do not do, is read about market speculation, because if they read financial education books without a focus on technical analysis they would have control over risk management, knowing when it is advisable to enter to the market and when staying out of the market, having these clear concepts could easily manage how much balance you could risk, in my case, I never risk 10% of what I decide to put, I always go with 7% or 8% loss, but the benefit is calculated between 24% and 30% for each operation, of course, my way of operating is in the medium or long term.
If you still believe that you can earn money without trading bots, then you are a fool. 
Yes, you can. Trading bots only trade on the basis of signals from professional traders, but it doesn´t mean that these traders have good results and even they have, it is not a guarantee that they will have them in the future 
.If you are new comer, please do not fall into this FOMO and lets wait, I believe that we will see new lows 3k. Why? People don´t have money to invest - 30 millions unemployed americans
.
If you still believe that you can earn money without trading bots, then you are a fool.
I think everyone will know what bitcoin is, so if it were me, then I would first learn how to do basic trading strategies.
Yes but not everyone knows why recently the price is increasing and an experienced trader will easily laugh and say that is because of the FOMO around the halving that makes people buy more bitcoins and hence the price went up. Knowing bitcoins is good but knowing about the deep aspects like how will miners cooperate with halving and how the price will be affected by some milestones, I mean I consider halving as a milestone, will help a trader make more suitable trades. That been said there are a large number of reddit posts I saw with good information and there are some good videos too, just make sure not to trust any links or software any unknown people provide you. When I was new someone easily fooled me by sending some transaction with 0 fees or something which was later cancelled and I felt so bad and foolish so same applies to trading, you learn new things and you grow daily.
I sometimes wish I could be good at day trading and ake profit every single day. Although I trade, but not as such active and sometimes, I experience some drawbacks on trading. For instance, the fear of losing draws me back. My urge right now is to see that I gain more courage to trade, irrespective of whether I will gain or lose.
Things are now quite different. I think i now have the time and will focus more on it.
That's pretty normal, I'm sure many traders come to that kind of stage that they are scared of losing their capital and can't make a profit every single day. To be honest I came to that point when I was still a newbie and still wondering how can I make my trading skills better. Experiences help a lot in trading and with the experiences you can build your skills. If your serious enough in trading just continue what you are doing and if you have the confidence to trade on a daily basis then go. Things are now quite different. I think i now have the time and will focus more on it.
I sometimes wish I could be good at day trading and ake profit every single day. Although I trade, but not as such active and sometimes, I experience some drawbacks on trading. For instance, the fear of losing draws me back. My urge right now is to see that I gain more courage to trade, irrespective of whether I will gain or lose.
Things are now quite different. I think i now have the time and will focus more on it.
Things are now quite different. I think i now have the time and will focus more on it.
All the information is available in the Internet you just need to show an effort and have some time to research it.
I can't believe that someone who wants to be a Bitcoin trader needs to learn what Bitcoin is and how it works. He'd have to be like that guy who wants to be an astronaut but can't even name planets of the Solar System.
If you have to teach a future trader about the basics of Bitcoin and reading charts you can expect that trader to fail miserably.
I can't believe that someone who wants to be a Bitcoin trader needs to learn what Bitcoin is and how it works. He'd have to be like that guy who wants to be an astronaut but can't even name planets of the Solar System.
If you have to teach a future trader about the basics of Bitcoin and reading charts you can expect that trader to fail miserably.
When you do just make yourself to learn up trading just because you do need money or to sustain yourself then better you opt out this one into your option because results wont just pop out in a matter of minutes hours or days. Everything would really need that sufficient time for you to learn up everything but at least you do make yourself learn in earlier phase but i would say that this one wont be that enough as said earlier
profits wont be sustainable since you are still a noob and the fact in spite on making profits you would eventually lose even more if you dont know on what you are doing.On this time of crisis there are lots of ways
for us to earn money not just here on crypto but in other traditional potential sources as well.
profits wont be sustainable since you are still a noob and the fact in spite on making profits you would eventually lose even more if you dont know on what you are doing.On this time of crisis there are lots of ways
for us to earn money not just here on crypto but in other traditional potential sources as well.
It would be useful for novice traders to familiarize themselves with the golden rules of trading. 1) Always diversify risks by investing in different assets and trading on different exchanges. 2) Remember that margin trading is very risky and allocate to it the part of the portfolio that you can afford to lose. 3) It is easier to lose money in day trading than when holding coins for a long time.
I think the points that you made out are great. The thing about divesting as well should be known in all financial planning stuff. Just be sure it's not your rent money or something related to that.all I can think of as a smart trader is be patient, no man could ever strike a gold at their first hit, it takes time and effort. On a side note, do not focus all your effort with just trading, do it together with other things, you can work your day time job and trade, it makes you have a stable source for sustenance and not pull out your investments when push comes to shove.
You are definitely on point with that patience things. It's better to set the expectation before anything else because once they understand that it's not lightning fast compared to gambling, they would build that mentality when it comes to trading.I mean bitcoin trading is a good method to make money but not suitable for most of the people; in other words, bitcoin must be a good method for making money but actively trading may not be viable for many people. Investing in bitcoin must be another method instead of trying to trade it.
Why not have the best of both worlds? Accumulating Bitcoin and trading it at the same time? I think having that set up would be practical because you would be gaining from the trades (assuming you have Gunbot) automatically. That would answer your "actively" trading part and continuously investing is the "Investing in Bitcoin" part.
Some of the questions you asked are unnecessary and anyone asking that kind of question doesn't really deserve my answer, especially that number one and two. Someone that's been here for quite a long time is meant to know what's Bitcoin, and if you're a newbie there are lots of articles written about Bitcoin online, and sites like Cointelegraph and Coindesk all have a whole page dedicated to teaching about Bitcoin and what it's all about. And as for how to earn, you already mentioned trading; trading is a good method, though everyone do not understand how it works.
I mean bitcoin trading is a good method to make money but not suitable for most of the people; in other words, bitcoin must be a good method for making money but actively trading may not be viable for many people. Investing in bitcoin must be another method instead of trying to trade it.
I mean bitcoin trading is a good method to make money but not suitable for most of the people; in other words, bitcoin must be a good method for making money but actively trading may not be viable for many people. Investing in bitcoin must be another method instead of trying to trade it.
I think starting your trading journey would be to learn all that you can about trading and the nook and crannies of it, learn from succesful people and follow their advice but not blindly, you are to learn but also use your common sense. Remember to not put your eggs in one basket, making diversity in your investments in your trading, this makes sure that you will not suffer a big loss when you start trading and lastly, all I can think of as a smart trader is be patient, no man could ever strike a gold at their first hit, it takes time and effort. On a side note, do not focus all your effort with just trading, do it together with other things, you can work your day time job and trade, it makes you have a stable source for sustenance and not pull out your investments when push comes to shove.
I think everyone will know what bitcoin is, so if it were me, then I would first learn how to do basic trading strategies.
It would be useful for novice traders to familiarize themselves with the golden rules of trading. 1) Always diversify risks by investing in different assets and trading on different exchanges. 2) Remember that margin trading is very risky and allocate to it the part of the portfolio that you can afford to lose. 3) It is easier to lose money in day trading than when holding coins for a long time.
Experience is still the best teacher though are things that we can only learn through books like when we need to learn how to read for us to do that we need books same as in trading we can learn a lot of things and be successful on this through experience but we will still need those paid calls or books that contain information about trading.
Yes, experience matters. A beginner in trading, should not focus on accumulating profits but should focus on accumulating as much as possible experience by risking all the new things they come across but with small capital. Unfortunately most new traders are just focusing on cracking profits because from day one itself they want to be trading like pro.Crypto market is no different from the stock market you can invest and trade into both of them, --strategies and current or upcoming situation makes them different on when and how you will respond to it.
Basics of all the markets are same because risk management - money management - controlling our emotions are same thing everywhere. But, level of fluctuations and impacting news sectors may differ market to market but those things are easier to adopt for a trader who is switching over.Jump to: