Trading as a newbie? - page 10. | Bitcointalksearch.org

Fivestar4everMVP

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Quote from: JamesDaniel90 on January 05, 2023, 06:10:08 PM

Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.

I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

Anyone done something similar or will it just lead me to losing my money?

By now, I believe you must have gotten all the information and guide you need to kick start your trading business, but to add to what I believe some other persons much have said.
As you newbie, don't be in a haste to start making money through trading, it takes time, there are many things you will have to learn, and you need time, if you are considering trading as a way for you to become rich over night, you will end up being frustrated and would at some point give up.
So if you want to succeed in trading, be patient and give yourself time, and also be consistent, do good research on every coin you want to buy and make sure your are only buying quality coins with good usecase, don't go buying dead coins with dead community, you will just end up making losses.

btc78

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Quote from: JamesDaniel90 on January 05, 2023, 06:10:08 PM

Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.

I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

Anyone done something similar or will it just lead me to losing my money?

of course this is fine, but how long is your tolerance ? I mean how long you can carry the dumping or losing once it crosses your investments?
if you have been seeing this market for a time now then you knew that things might come worst in the coming days after we bought them.

and also we knew that buying Low selling High is the perfect strategy but how deep you can keep? that is the question you must answer first.

Obari

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It seems @OP is looking seriously for a pump and dump project and you should know that it is very much risk to invest in altcoins and hope you're ready for whatever consequences it brings before you.
I will advice you rather invest in Bitcoin for a long time(not a financial advice and you should do your research please)
As Bitcoin has proven to be the hope of the common man.
And if you must going into day trading then I will also advice that you go learn the necessary rudiments and bet yourself fully equipped with the basic trading knowledge.

martyns

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Trading can somehow seem so complicated to newbies and it takes frequent research and calculation to be able to trade successfully as a newbie.Newbies who have not had experience of trading before needs to have a mentor,who will teach him how to trade because the business of trading is a risky one,and one must be determined and have a strong mindset before venturing into the game.
The game of trading is one that requires a strong mind because it's involves risk,it is a two way thing,either loosing or winning,but good strategy will make you win.

AnonBitCoiner

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Quote from: JamesDaniel90 on January 05, 2023, 06:10:08 PM

Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.

I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.

I will recommend you to first learn the basic concept and some tool before starting trading. Most of users using Charts for trading , if you learn chart reading then it will be better. You can loss as a newbie to trader soTry to start with low amount and then When you have full experience then you can Start real earning.

Quote

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

First of all we should know why one coin is down 15%. Maybe it touches ATH high and then it's down 15%. Another possible reason may be there are some bad News about this coin in the market. If you invest in this coin , it will never give you profit. Suppose Solona down 30% from now but taking entry at this point is still risky because in two week it did 3x. I will not recommend this

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Anyone done something similar or will it just lead me to losing my money?

I will recommend to make daily trading on low Market cap coin. If you find some these coins in BTC pair then it will be better. Choose those coins where you find high volatility in 24 hours. Now main thing to know is the ATH and all time low of this coin in one week. Now wait for token to down to lowest range and then sell below high range. My friend making huge money by just using this sample method.
Note: Risk is also involved because some time these coins delisted from exchange or market dump hard .

alastantiger

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Quote from: JamesDaniel90 on January 05, 2023, 06:10:08 PM

Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.

I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

Anyone done something similar or will it just lead me to losing my money?

I remember researching the market and my alternatives when I first chose to dabble in trading. I initially thought, I will figure it out, but I want to treat this seriously. Not just to make money, but to improve at it and perhaps assist someone later on when they have inquiries. I'm looking forward to the next bullrun because I'm purchasing as much as I can right now. The risks are higher, but they are manageable.

Jackthelad

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You could literally try this by old fashioned paper trading.
Make a note of what price you would have bought say XRP at , when it's 10% down, set alerts on Coinbase for the 10% rebound and record your results.
It may take a few days weeks or months

Fondarchand

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Yes exactly at first the the trader are not comfortable because he does not have any experience and have little information about the coins, market condition, and many other things related to the trading and investment.
It's obvious that when a person does not know about anything then it is something hard to achieve the specific desired objective.
Also keep in mind that if you unfortunately loss your money then its not your failure but instead it will give you lesson and your experience will enhance. Little amount of cash should be used and and always keep your eyes on market price when it is reduce then put some little amount in some specific coin.

Gladitorcomeback

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Individuals can make money though cryptocurrency trading if his thinking abilities are higher and also his learning abilities is elevated. I will suggest you that select that coin which is successful and has given profitable results to the holders.

The mechanism of earning money which you have described is good but remember that if the price goes slightly up then sell your holding coin because the market has no guarantee that when it becomes lower and when it will go up.

You can also diversify like through the selection of two or more coins and then wait for the price to go up now the market is slightly up so if you have hold any coin and think that you have some profit then just sell it out and buy another coin which is more likely to give you more revenue.

xSkylarx

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Quote from: lixer on January 31, 2023, 12:33:01 PM

It's impossible if they won't have a second thought whether the thing that they will venture is safe or not especially if someone promise them a crazy high return at a short period of time in exchange of a little money but it's also written on their rule that the more money you will put the more return you will get so those newbies will usually opt for this plan. There is wrong with getting scammed and that is someone might be greedy and has a lack of knowledge.

I am not sure if you got experienced this before but way back in 2016 when Ponzi schemes are all over the internet and as a newbie on bitcoin, the tutorials or guides are not that rampant so others get really baited to it and want to sort of test the waters of Ponzi scheme but turns out gets scammed. What I meant is that it is not the same right now that you will laugh at those people who still get into HYIP even though all over the internet is saying that it is a scam.

Quote from: lixer on January 31, 2023, 12:33:01 PM

Don't say it's fine because they will just do it again and again. Following the influencers just because they are famous is a lame excuse. We should be aware that influencers are only like an endorser. They don't know what they are endorsing but they might lie and say that they are benefiting from it.

I haven't meant that it is fine to get scammed what I meant is this

Quote from: xSkylarx on January 31, 2023, 02:43:08 AM

There is nothing wrong with getting scammed; for sure, we will learn from our mistakes and avoid them next time.

meaning there are really times that we got scammed but we should be sure next time that we dont get into it again in the future as it is now our fault for playing dumb and again wants to invest in those high return scams

lixer

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Quote from: xSkylarx on January 31, 2023, 02:43:08 AM

Those newbies who got scammed are those newbies who want to earn profit easily and fast, not thinking that this could be the wrong move. There is nothing wrong with getting scammed; for sure, we will learn from our mistakes and avoid them next time, but our mindset is that we could get easy profit from it with no effort at all, which means that we settle on this and find it rewarding. Also, newbies right now tend to follow those influencers to buy the coin as they said, and it's because they are famous so we follow them and we end up losing.

It's impossible if they won't have a second thought whether the thing that they will venture is safe or not especially if someone promise them a crazy high return at a short period of time in exchange of a little money but it's also written on their rule that the more money you will put the more return you will get so those newbies will usually opt for this plan. There is wrong with getting scammed and that is someone might be greedy and has a lack of knowledge.

Don't say it's fine because they will just do it again and again. Following the influencers just because they are famous is a lame excuse. We should be aware that influencers are only like an endorser. They don't know what they are endorsing but they might lie and say that they are benefiting from it.

xSkylarx

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Quote from: martyns on January 31, 2023, 01:01:27 AM

Quote from: zaki12 on January 28, 2023, 11:38:21 PM

Quote from: JamesDaniel90 on January 05, 2023, 06:10:08 PM

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

It's lucky that you trade like that, you always get profits under %15. But you need an edge to overcome the laws of probability and market uncertainty. That advantage comes from the flow of information, the ability to refine your habits in light of market characteristics, and being able to learn from people who know more than you, cut losses, expand your information network, seek ideas, and take recommendations. You can search for more

Newbies are mostly victims to scams and desperate to know more, in the quest to get educated properly, they need guide in the market and following top influencers in the market that will be dropping crypto updates and letting them know when it's the right time to trade. Trading as a newbies required so many key steps before succeeding in the market. There are many ways to gain profits in the market, with the right trading tools, PDFs that explained entirely TA and FA, how to coach one to using them to analyze charts.

Those newbies who got scammed are those newbies who want to earn profit easily and fast, not thinking that this could be the wrong move. There is nothing wrong with getting scammed; for sure, we will learn from our mistakes and avoid them next time, but our mindset is that we could get easy profit from it with no effort at all, which means that we settle on this and find it rewarding. Also, newbies right now tend to follow those influencers to buy the coin as they said, and it's because they are famous so we follow them and we end up losing.

WatChe

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Quote from: LUCKMCFLY on January 21, 2023, 10:13:52 AM

Trading as a novice is pretty much making moves by chance and because you think it's going to happen for no reason, or because you think the move will somehow just because you think the pattern has to look like something, I think novice traders also believe In these things they can fall that only handling some things such as technical analysis with some tools can solve everything and it is not like that, coercing as a novice is like entering a casino to do gambling, because everything is left to chance and that means that you cannot even read the volume when it is so important in trading.

Every experienced trader was once a novice and you cant master this art of trading without making mistakes. To be a successful trader it mostly depends on how much you are determined in trading even after losing money (or making mistakes). So learn quickly with there mistakes while other took some time.
If you are new to trading then two things I suggest is that never jump with huge capital (invest as much as you can afford to lose) and secondly always think and make decisions on your own (not rely on others like Signalling group) in this way even if you make mistake you will learn something.

martyns

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Quote from: zaki12 on January 28, 2023, 11:38:21 PM

Quote from: JamesDaniel90 on January 05, 2023, 06:10:08 PM

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

It's lucky that you trade like that, you always get profits under %15. But you need an edge to overcome the laws of probability and market uncertainty. That advantage comes from the flow of information, the ability to refine your habits in light of market characteristics, and being able to learn from people who know more than you, cut losses, expand your information network, seek ideas, and take recommendations. You can search for more

Newbies are mostly victims to scams and desperate to know more, in the quest to get educated properly, they need guide in the market and following top influencers in the market that will be dropping crypto updates and letting them know when it's the right time to trade. Trading as a newbies required so many key steps before succeeding in the market. There are many ways to gain profits in the market, with the right trading tools, PDFs that explained entirely TA and FA, how to coach one to using them to analyze charts.

zaki12

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Quote from: JamesDaniel90 on January 05, 2023, 06:10:08 PM

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

It's lucky that you trade like that, you always get profits under %15. But you need an edge to overcome the laws of probability and market uncertainty. That advantage comes from the flow of information, the ability to refine your habits in light of market characteristics, and being able to learn from people who know more than you, cut losses, expand your information network, seek ideas, and take recommendations. You can search for more

LUCKMCFLY

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Quote from: martyns on January 15, 2023, 11:17:13 PM

Quote from: greengrassis on January 15, 2023, 10:26:18 AM

I'm sure the most important aspect for a beginner is learning. At the very least, I would advise you to pay maximum attention to this. When I started working with a broker from Amarkets, I worked on a demo account in order to have enough experience.

You already said it all,that learning is the first thing to do as a beginner,Reading,research,having a mentor is all that are needed before indulging in the trading activity.You must be able to learn how the market system operates,and how to deal with loses if it comes,because in trading,you cannot really be guaranteed that Everytime you go into trading, you will always win,you should know that there are risks involved in trading,so being able to deal with it is also important as a newbie going into trading.You should also be able to do some research before going into trading.Try to know the kind of trading that will favour you at that particular point in time.

What I think is that if you can do things like study, like reading books before operating, it is ideal, a very common mistake and that we all fall, I say it because and I also fell, it is that when you need to trade, you still go exchangey is not practiced with a fictitious account with fictitious money, generally one as a novice begins to trade with real money and one feels the emotion and the adrenaline, the bad thing is when you start to lose and see that the balance goes down and what is obtained are pure losses, worse still, that they do not know how to handle the tools that are available in the exchange, such as stop loss, take profit, if they have both functions, the margin trade, leverage us.

SOKO-DEKE

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Trading is always challenging, especially if you are just starting out. Due to a lack of trading understanding, over 70% of traders have been losing money. Therefore, before you even consider trading, I would advise you to gain more trading knowledge. If you don't, you risk losing everything.

Quote from: JamesDaniel90 on January 05, 2023, 06:10:08 PM

I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.

Buying at low and selling at higher is what everyone is after in trading. But what will be your assurance that the coins you buy at low will pump later? And you want to be keeping repeating by taking your 10% profit.If trading is that easy most traders would be multimillions by now since when they have start their trading career.

RealMalatesta

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Quote from: Popkon6 on January 22, 2023, 02:25:50 AM

You apply your basic ideas. And master your assets and trade small amounts to trade them. This will increase your experience and is a huge gamble with a high probability of loss. You can survive by watching others make big trades and avoid them. Whenever you go too greedy you will face danger in trading.
Must have an understanding of the advisory coin market. The market always fluctuates. Starting with small resources will definitely make you successful. Taking a new trader to a gambling casino and starting trading as a newbie is the same. Use your experience to be successful.

Yeah, I just remembered one more thing to advice to newbies. Aside from all those "do not listen to influencers" basic stuff, do not try to do copy trading right away neither. I know that doing the exact trades of someone who has been making a profit in the crypto world for 10 years could sound like a good idea, but since you do not know what is good and what is not, I would highly suggest you to not do anything like that just yet, it should take a while before you could separate who is a good trade and who is not.

This is why it's a difficult way to make money, you would end up following someone who will make a lot of loss and it would not be a good idea at all.

xSkylarx

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Quote from: cozytrade on January 21, 2023, 07:31:05 PM

Quote from: greengrassis on January 17, 2023, 12:53:59 PM

I believe that one of the most important stages for a beginner is training. This is something that is really worth paying enough attention to. Without this, the result can be somewhat frustrating.

Yes I think so. If you are trying to learn something new then you need to focus well first. And if you can't focus well then it will take you a long time to learn that task and what you are not good at.Â Can't gain experience. So I think we should always think carefully and then start any work with a decision.

That is why you need to settle your mind first and make your decision that you want to learn this so that while you are learning, reading, and watching tutorials, you can understand it easily. It is like reading a book that you don't want to read, so you can't understand what the story is. Training or practicing on a demo account is really essential in trading because it can help you tweak your strategy and determine if it is not working before losing money from your trades.

Popkon6

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You apply your basic ideas. And master your assets and trade small amounts to trade them. This will increase your experience and is a huge gamble with a high probability of loss. You can survive by watching others make big trades and avoid them. Whenever you go too greedy you will face danger in trading.
Must have an understanding of the advisory coin market. The market always fluctuates. Starting with small resources will definitely make you successful. Taking a new trader to a gambling casino and starting trading as a newbie is the same. Use your experience to be successful.

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