Trading as a newbie? - page 6. | Bitcointalksearch.org

cydrix

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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?

The idea of trying to come up with ways of making money by the means of trading. Everyone started with zero experience and being observant on the market. I can't suggest the strategy you've mentioned because you can't guarantee 15% down that it will pump eventually but that's why we should take the risk and it will depend on us how we manipulate the trading strategy we have. Always Do your own research before entering for a trade because factors are very important to a coin.

naikturun

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maybe your expectation is like that but trust me is not easy like that, when you face with real market there will be nervous or something that will distract your mind.
because you never do that and let say you try it for the first time.
so yeah you will just lose money, unless if you want learn to trade and ready to lose your money to get experience.

Pamadar

legendary

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Quote from: Munir575 on March 05, 2023, 01:44:33 PM

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?

its not a bad technique I’m sure you won’t be the first to try it whether you succeed or fail you won’t be the first either so it worth the try if thats what your instincts tell you whatever the outcome it will be an experience you will learn from and if it doesn’t suit you you will have to try another pattern. Trading is not an easy task and you should be ready for the worse especially when it comes to trading altcoins because they are not as reliable as trading Bitcoin.

Strategy like that needs to be practiced from time to time. You are unsure that the market will increase back even the asset already falls for 15%, the chance that it will continue to fall is possible.

You need to have good a good research before taking that strategy, and like what you said, it's not the first
time that this kind of strategy is being used and if he succeeds or fails, it is not also the first time. There's always
the right way or much better to say fitted way to each trader, both new and old timer.

andriarto

sr. member

Activity: 1344

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Quote from: Munir575 on March 05, 2023, 01:44:33 PM

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?

its not a bad technique I’m sure you won’t be the first to try it whether you succeed or fail you won’t be the first either so it worth the try if thats what your instincts tell you whatever the outcome it will be an experience you will learn from and if it doesn’t suit you you will have to try another pattern. Trading is not an easy task and you should be ready for the worse especially when it comes to trading altcoins because they are not as reliable as trading Bitcoin.

for beginner traders, you really have to gain experience, which is what can make us successful. with your technique, then you have to think about if the price continues to fall, so you have to place a stop loss according to your analysis. on the other hand, be careful if you change coins that have decreased, because it is very risky, especially if it is a new coin, because extreme declines can occur in the blink of an eye, and will make us panic

karmamiu

sr. member

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Been watching lots of reviews and tips about trading few years ago, and I could say that, yes, you can gain a certain amount from that, but not all the time. I remembered way back, I have a trading mentor (privately), told me that it's much better for me buy and hold rather than doing quick trades, coz it'll benefit me in the long run. So, I did and luckily, I didn't regret it. Months ago, when I was looking for some youtube videos, I stumbled upon a video by Graham Stephan talking about investments and reviews about other people's lives as a trader. He mentioned that based on studies (I forgot what study that is) stated that those who bought, and hold are more profitable than doing quick trades. I've never really took quick trades seriously but based on my experience and several people, they found it more profitable to make it as an investment, buying whenever they have spare cash rather than making it as quick cash grab. Personally, I could only say that it depends on what method best applies to you since you are also making it for the sake of having a side hustle.

Bhig Daddy

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When many coins were moving virtually simultaneously, I performed something similar a few years ago, enabling me to buy low and sell high. But, given the number of coins now available, I believe it is challenging because it takes more time to evaluate each coin individually and does not ensure you will be able to obtain the coin you desire. And doing it that way without strong analytical abilities would only result in financial loss because you run the risk of interpreting the coins incorrectly. But if you're still interested in giving it a shot, I advise doing it for a little cash first to gauge how it goes. Never use large sums of money if you aren't willing to lose.

Munir575

member

Activity: 546

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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?

its not a bad technique I’m sure you won’t be the first to try it whether you succeed or fail you won’t be the first either so it worth the try if thats what your instincts tell you whatever the outcome it will be an experience you will learn from and if it doesn’t suit you you will have to try another pattern. Trading is not an easy task and you should be ready for the worse especially when it comes to trading altcoins because they are not as reliable as trading Bitcoin.

Pamadar

legendary

Activity: 2982

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Quote from: LastKiss on March 04, 2023, 12:06:04 AM

Quote from: Digital_Lord on March 04, 2023, 12:00:09 AM

The cryptocurrency market is very hard to understand, you have to pick an accurate coin which has a better history and also a recorded success which is offers to the holders. If you have no expertise then focus on your experience then it will not matter that how much money you loss, always get experience from your defeat and minimum cost should be invested not large sum as you are newbies and you have almost no experience about it. Trading business is not easy and I think you have to spend certain months to understand about it because it cannot give you same results always as the alterations in price is the key feature of trading.

Yeah, even traders who had tons of experience like 2 years, 3 years, etc. not guarantee the success of their trading. Even a newbie can win a lot just from his/her luck, It's better to try a trading simulator or trading demo to know how much our knowledge about trading before we try the real one.

That's for sure, not even experienced traders won't experience loss, there's still chances that anticipation will not come into reality as fluctuation will ruin your position.

Better to keep pushing your way in learning the process and if you already getting more winning position than
losing one, the chance to progress is very high. More on self assessment and how will you reflect everything
with the way to execute your trades.

bitcoin_network

newbie

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Quote from: Digital_Lord on March 04, 2023, 12:00:09 AM

The cryptocurrency market is very hard to understand, you have to pick an accurate coin which has a better history and also a recorded success which is offers to the holders. If you have no expertise then focus on your experience then it will not matter that how much money you loss, always get experience from your defeat and minimum cost should be invested not large sum as you are newbies and you have almost no experience about it. Trading business is not easy and I think you have to spend certain months to understand about it because it cannot give you same results always as the alterations in price is the key feature of trading.

Trading in the cryptocurrency market requires detailed knowledge of the trade.First of all, everyone should learn the basics of trading because it is seen that many times many people face losses by buying the wrong coins.But those who want to buy and trade any coin for a long time must choose the right coin.The market should be scrutinized to buy the right one.

GiftedMAN

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Quote from: GeorgeJohn on February 27, 2023, 04:20:06 PM

Quote from: Lida93 on February 27, 2023, 03:17:35 PM

Does trading really works actually this way as easily spoken? No I doubt it does! I jumped into a trade over three weeks ago based on the idea that the coin (GFT) has fallen to a reasonable level that I felt I can make a good profit from within at most three days time as it will pump high but as we speak I have spent three weeks and days more on that trade as am currently making a loss when I was hoping to make profit within a few days because the coin was down around a certain percent.

Trading have tactics and that's a good investors always observe the market very well before venturing into trading investment, so when trading try to read the market chart and know if the market will rise within some interval or the market will go against of rising before you put in your funds, theirs what i want you to understand that, when you have the objectives of making profit in trading you will definitely down on wrong side of investment, monitor the market, scrutinized the market before opening a trade.

The art of trading is to learn the fundamental things that are necessary for one to understand the market. It is very important for us to learn the basics topics in trading some that we can always be prepared to analyze the market without fears. One if the mistakes many of us do make especially for newbies is learning the art of trading without getting the full requirements that will enable us to be fit to trade the market without any signal from other traders. Trading needs understanding about the market if we want to earn bug from the market.

LastKiss

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Quote from: Digital_Lord on March 04, 2023, 12:00:09 AM

The cryptocurrency market is very hard to understand, you have to pick an accurate coin which has a better history and also a recorded success which is offers to the holders. If you have no expertise then focus on your experience then it will not matter that how much money you loss, always get experience from your defeat and minimum cost should be invested not large sum as you are newbies and you have almost no experience about it. Trading business is not easy and I think you have to spend certain months to understand about it because it cannot give you same results always as the alterations in price is the key feature of trading.

Yeah, even traders who had tons of experience like 2 years, 3 years, etc. not guarantee the success of their trading. Even a newbie can win a lot just from his/her luck, It's better to try a trading simulator or trading demo to know how much our knowledge about trading before we try the real one.

Digital_Lord

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The cryptocurrency market is very hard to understand, you have to pick an accurate coin which has a better history and also a recorded success which is offers to the holders. If you have no expertise then focus on your experience then it will not matter that how much money you loss, always get experience from your defeat and minimum cost should be invested not large sum as you are newbies and you have almost no experience about it. Trading business is not easy and I think you have to spend certain months to understand about it because it cannot give you same results always as the alterations in price is the key feature of trading.

Bitcoin_people

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If you are a new investor then it is definitely risky if you are trending. But the market never stops it will rise and fall. If you have invested in Bitcoin then you have nothing to be disappointed. Wait patiently no matter how bad the situation is. Of course you don't have to face losses by investing in Bitcoin.

PancherSh

newbie

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Quote from: Tigerw on March 03, 2023, 11:50:46 AM

Quote from: PancherSh on March 03, 2023, 11:43:27 AM

if something goes wrong, the bot itself stops and a notification comes

what knowledge do I need to have to work with a bot and Do I need to be able to program to set up a bot?

no, it is not necessary, the software is designed to provide a finished product to users. bots are assembled in the constructor

Tigerw

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Quote from: PancherSh on March 03, 2023, 11:43:27 AM

if something goes wrong, the bot itself stops and a notification comes

what knowledge do I need to have to work with a bot and Do I need to be able to program to set up a bot?

PancherSh

newbie

Activity: 112

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Quote from: Tigerw on March 03, 2023, 11:41:43 AM

Quote from: PancherSh on March 02, 2023, 11:30:57 AM

certainly this is a complex software in which there are ready-made solutions and many bots can be customized to fit your needs. And you can also create a robot according to your strategy.

It is important to know how software support works. Do algorithms fail?

if something goes wrong, the bot itself stops and a notification comes

Tigerw

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Quote from: PancherSh on March 02, 2023, 11:30:57 AM

certainly this is a complex software in which there are ready-made solutions and many bots can be customized to fit your needs. And you can also create a robot according to your strategy.

It is important to know how software support works. Do algorithms fail?

@sriyan

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You can apply that kind of strategy only for the bull markets. How do you know exactly if this coin will be pumped or not? This is called gambling. because you don't have any plan. If you are a newbie to trading, my suggestion is to create a portfolio and plan better risk-reward management. The main thing in trading is how you protect your capital and how you minimize the losses.

Bestdss

jr. member

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If I am to advise any newbie that has interest in trading as a side or full time participation. Firstly, you should be able to use the amount of money you are able to loose, even though no money is too little to loose.
Secondly, always invest in solid projects with high market cap because no matter what happens, the project will still be available in the market unlike low market cap gems that will pack up when the market goes south.
Thirdly, don't buy any project because they lost - 15% or - 25%, some might never recover and send back to the village 😂 use Luna and FTX as an example here.

PancherSh

newbie

Activity: 112

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Quote from: Wolfwar on February 20, 2023, 12:26:45 PM

Quote from: nurilham on February 18, 2023, 04:57:05 PM

Quote from: MidnightWolf on February 17, 2023, 08:29:10 AM

I think that for a beginner, there should be a mentor who will help you gain experience in trading. Or you can use a good trading bot that will allow you to make the right decisions. I started using Ets bots, but I lost a little depa while I was figuring out how to set it up, but then, as I figured it out, everything was fine, though I had to spend 4 days.

Having a mentor is good but it is not a must. Not every experienced trader started their trading with a mentor, some can succeed by learning themselves. I myself never have had a mentor, I learned it by self-taught. There are many sources that we can learn trading, both articles and youtube videos.

Bot trading is optional, I never used it. The best way is to use our own skills to determine everything in trading. Don't depend on the bots!

I looked everywhere for information on how to learn how to trade correctly and I was told everywhere that the key to success is stored primarily in the knowledge of technical and fundamental analysis. It is believed that a computer is smarter than a person. To what extent do you think the opportunity will be able to realize the idea of generating income with the help of the program and controlling it at its own discretion?

certainly this is a complex software in which there are ready-made solutions and many bots can be customized to fit your needs. And you can also create a robot according to your strategy.

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