For somebody with no trading experience, it is better to study first the basics of trading. And then you study the movements of some selected coins like bitcoin. You better stay away from jumping to different coins because charts are not enough to determine the movements of their prices. Look at the history of the top 5 coins in Coingecko and check their charts. You will notice that they can drop deeper than 15%. Bitcoin alone who's considered the most valuable and safest among cryptocurrencies dipped from $60k down to $15k late last year.
It might feel easy to think about earning thru trading. So the best way is to experience it for real. I am not a fan of demo trading accounts so put in $100 and do actual trades while learning the basics.
Topic: Trading as a newbie? - page 16. (Read 2992 times)
Can't guarantee with several altcoin have going dump under 15% will return back to higher price and potential pump above 10%, this risk management. Seems you was wrong way when trading at some altcoin actually your expectation when some coin have going dump under 15% and get potential back higher price later.
Change your mindset about altcoin can't going up drastically after dropping price under 15% and you can loss opportunity earn profit when using your feeling about coin have dump get chance later for breaking out to higher price. Learn step by step about right decision when trading at some altcoin, not always potential after dump and back pump later.
Change your mindset about altcoin can't going up drastically after dropping price under 15% and you can loss opportunity earn profit when using your feeling about coin have dump get chance later for breaking out to higher price. Learn step by step about right decision when trading at some altcoin, not always potential after dump and back pump later.
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?
Day trading? Don't even think of it. It's a full time business if you'll start in part time you'll mostly end up checking the market all the time. Better to give positional trading a try. You can hold positions for long periods by laddering them in a pattern. The theory of buying a coin at 15% down and selling it at pump sounds great but is practically impossible. You will have cases where coins will go further 15% down after going 15% down already. So don't burn your hard earned money. 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?
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 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?
How is this logical to you mate ? I mean I admit that you are newbie, but the thing you have mentioned here is done by foolish people only. I don’t want to be rude, but that’s truth my friend. I mean how do you know that the coin that went down by 15% will rise again? That’s just guessing and it’s really bad. Trading is nothing but just calculations and proper assumptions. If you master in both, then definitely you will reduce the risk of losses. I would advise you to at first watch the market, do proper research of a coin and when you feel confident, invest. Also keep a note that, at first invest the amount that you can afford to lose.
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?
Be careful. If the market is just like that, you should see that there are a lot of winning people. That's easy to say, but that scenario is most of the time, rare to happen. Be picky, if you will pursue that kind of trade be sure that the project that you invest is the coin that you trust (not by the trend and baseless prediction). 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 have zero experience and have just been looking on Coinbase at the best and worst performers of the day.
The best performer today might just be a pumped coin which is go back down tomorrow never to go back up again. How exactly do you plan to know this from beforehand?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.
You can get the result on your own without spending a satoshi. Try dummy trading with a virtual capital and attempt to do this honestly on paper. See how much you are making right or wrong and see what profits you are making over a time period. That way you can understand better than any one posting here about possible income.If I say here that buying shitcoins is a waste, you would not believe me, but do this and see for yourself and you will get the fact in your head.
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.
Stay away from pump and dump games, you will regret it later.I agree more if you start investing instead of taking advantage of the pump and dump situation on that altcoin. You should probably ignore it as much as possible because in most cases the trader will lose money because of it. But if you want to trade, then do your analysis on some good altcoin even if only for small profits.
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.
If you don't understand trading don't involve yourself until you have acquired the rightful knowledge needed to succeed in it. What you just described are what most newbie fantasize about during but the market doesn't always favor them and just for you to understand how things work. If a coins drops by 50% for you to make back that 50% you'll need that coin to recover by a 100% and not that 50% that it lost earlier.
Also we're still n a bear market and coins that dump will likely dump further or take a very long time to recover. This isn't the bull market that anything seems to pump, what happens this time of the market is everything dumps including both strong projects.
...If it gets to a point where we experience a crash and I buy in at a price we don't see again for another month or so then I will just hold.
Thus, because of your mistake, you will move from traders to investors) Bear market is not the best period to trade if you are a beginner. Focus on learning and be sure to learn the rules for applying stop loss - this will really help you save your deposit in the future.
Thats a good analogy already. Buying when its down but you need to take a broader details like if its down, how long its been down, maybe its still in the phase of going down. Thats where you learn indicators where youll find out whether that project could go bounce and reversal at particular time based on past activity. Theres too much to learn but you understand a good way on how to start and thats great.
Right and that's why I think in trading we need to have both skills and knowledge,as traders we need to keep learning and that is the important part,
To become a successful trader requires sacrifice as well
I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.
Don't trade, you will lose your fund.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.
Anyone done something similar or will it just lead me to losing my money?
Looks like it can give you profit but have you ever checked that altcoins in 2022 lost 90% to 98% and some more than 98% of their all time highs. If you are not correct with your orders, your entries are wrong and you don't cut loss, you will lose a lot. From -15% to -98% is not small difference.Anyone done something similar or will it just lead me to losing my money?
Trading won't help you rich but it will help exchanges richer. You give them income from your trading fees.
Currently no fees on Coinbase - I have 1 month no fees using Coinbase One.
Am also up 36% already on one trade, I get it is a gamble but it is money I can afford to lose I am only starting with $50 and be happy if I can turn that into $250 so I can then put it all into Bitcoin.
[snip]
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?
My question is --is there any reliable source for this? knowing the coins when to pump and dump?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?
Perhaps none, so there is no way to predict the market price and it is very risky for you since you are a newbie. It will end up losing your money or else easily wipe out your entire portfolio. You have said that you are a newbie and don't have experience, I prefer to say that you need more experience and gain knowledge in trading because trading is not an easy way of making money, it is very risky.
Study and make research first or gain experience in copy trading, find an exchange platform that allows users to copy trading, so that you can try trading or even paper trading which you can practice more without losing money.
Correct.
Technical analysis is still needed in spot trading to know the prices you must buy a coin to avoid waiting too much time just to sell it since for example, you bought at a certain price then it continues to dump even more. To make this simple, the random guesses when to buy and sell a coin to make profits will not work every single time.
A single failure because of that action will lead to something chaotic, you will become addicted to that random guesses only in trading which you will not grow, meaning you will never become a good trader in the future.
I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.
Don't trade, you will lose your fund.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.
Anyone done something similar or will it just lead me to losing my money?
Looks like it can give you profit but have you ever checked that altcoins in 2022 lost 90% to 98% and some more than 98% of their all time highs. If you are not correct with your orders, your entries are wrong and you don't cut loss, you will lose a lot. From -15% to -98% is not small difference.Anyone done something similar or will it just lead me to losing my money?
Trading won't help you rich but it will help exchanges richer. You give them income from your trading fees.
...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...
Such a strategy will not always be profitable, since many coins, after their price has decreased by 15%, contrary to your expectations, continue to decline. In this case, you should have a backup plan, which may be to use a stop loss to limit your losses.
No back up plan - I am just trading altcoins I believe will be here till the next bull run at least.
If it gets to a point where we experience a crash and I buy in at a price we don't see again for another month or so then I will just hold.
...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...
Such a strategy will not always be profitable, since many coins, after their price has decreased by 15%, contrary to your expectations, continue to decline. In this case, you should have a backup plan, which may be to use a stop loss to limit your losses.
I have only started with $50 as a test - I made my first trade last night after buying LCX last week at $0.033 I sold at $0.045.
This is a 36% gain which is a pretty good start, now I will wait and have a look around to see what is badly down later and buy in when I feel there is a likely pump coming.
LCX reached $0.055 last night so this is a 67% increase from where I bought only a week ago so makes me realize there is money to be made in this bear market.
This is a 36% gain which is a pretty good start, now I will wait and have a look around to see what is badly down later and buy in when I feel there is a likely pump coming.
LCX reached $0.055 last night so this is a 67% increase from where I bought only a week ago so makes me realize there is money to be made in this bear market.
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?
Anyone done something similar or will it just lead me to losing my money?
It's great that you're thinking and have brought this idea here for discussion. Trading is risky, and you may find that your expectations are not met. Your thoughts on buying and selling are similar to saying it's a speculative activity that most people engage in these days. The market is so volatile that you never know what will happen when you plan to sell at a 10% profit.
Because you're new to this, just buy bitcoin and hold it like an egg for a longer period of time; I'm confident you'll profit from your investment in the long run. Consider doing your research even if others have already given you their thoughts and opinions on your plan; it will help and guide you better on the investment journey.
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.
You have to be very careful when using the strategy you mentioned above, their is no assurance that you are going to be making money continuously, how sure are you that if you purchase a coin when it drops by 15%, it's going to bounce back and you are going to make money? If you buy some coins it's still going to dip more and you might not be able to recover your money. Am not saying the strategy won't work for you like once or twice, but don't rely on the strategy because you won't really make money for long time. 
Thats a good analogy already. Buying when its down but you need to take a broader details like if its down, how long its been down, maybe its still in the phase of going down. Thats where you learn indicators where youll find out whether that project could go bounce and reversal at particular time based on past activity. Theres too much to learn but you understand a good way on how to start and thats great.
I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.
as you said, you are a newbie. Crypto trading is very risky. it's easy to see an asset with a dip and we can buy it. then sell it when it pumps. looks very simple, but you can imagine, what happens when the value of the asset you bought then experiences a more severe decline? even to reach a 10% pump maybe it won't return your capital.I don't scare you. but crypto trading is very risky. especially for beginners. so before you start trading, equip yourself with skills in trading. it will help you.
you better now buy bitcoin for the long term. this may not be as much of a trade as you think. buy and hold for a long time. you will see the benefits.
Jump to: