Trading as a newbie? - page 7. | Bitcointalksearch.org

Marvell1

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Quote from: Bushdark on March 01, 2023, 07:01:10 PM

Quote from: JamesDaniel90 on January 05, 2023, 07:10:08 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?

If you think that you can trade as a newbie and make Money from the cryptocurrency market then you must be joking. Don't waste your money and strength on thinking that you are going to make huge momey from trading. Even though are good in trading and had been doing that for long are still finding it difficult to make consistent profits from the market.

You don't have to follow the shortcut rather you can follow the normal path so you have learn something from trading that will help you in a long way. Do not think you can learn everything in a few weeks and start making money. You will need to learn so many things for you to start making money if at all.

Exactly. As a newbie, you can start trading but don't be in a hurry to make an instant profit or simply buy low and sell high, and we will be profitable. According to what I have experienced in the trading market, I can say that to make a profit from trading, it takes you at least 1 year, 1.5 years to learn and accept losses to have can gain lessons as well as experience. As a beginner in trading, accepting losses is the first thing we should do.

Nheer

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Trading altcoins is much riskier than trading bitcoin because we've seen many coins pump so hard and then dump, finding it difficult to rise again, and some even end up as dead projects. There are gains and losses as well, but you know this is cryptocurrency and you can never predict how the market will turn out. To me, buying altcoins while they are down and waiting for them to rise so you can sell seems like a waste of time and money. Instead, I suggest you trade bitcoin.

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Quote from: JamesDaniel90 on January 05, 2023, 07:10:08 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?

If you think that you can trade as a newbie and make Money from the cryptocurrency market then you must be joking. Don't waste your money and strength on thinking that you are going to make huge momey from trading. Even though are good in trading and had been doing that for long are still finding it difficult to make consistent profits from the market.

You don't have to follow the shortcut rather you can follow the normal path so you have learn something from trading that will help you in a long way. Do not think you can learn everything in a few weeks and start making money. You will need to learn so many things for you to start making money if at all.

PancherSh

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Quote from: Wolfwar on February 20, 2023, 01:26:45 PM

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?

in my opinion, it is still better to have good knowledge in trading and learn how to do technical analysis first of all, because if you decide to use a trading bot, then without this knowledge you will not be able to check whether the bot is working properly or not.

GeorgeJohn

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Quote from: Lida93 on February 27, 2023, 04:17:35 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.

Lida93

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Quote from: JamesDaniel90 on January 05, 2023, 07:10:08 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?

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.
Why am I saying this? Trading is not so easy in the practical of it as it is with mouth talk or thoughts. There's always a higher chance that it will go against your prediction and expectations. The real key to trading as I have learned all this while is patience, it is a virtue that many traders lack especially when a trade is not going in their expected direction they rush to cut at loss.

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Quote from: JamesDaniel90 on January 05, 2023, 07:10:08 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.

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

actually, this trick is really good to use if you have a good analysis technique but for a newbie trader, this trick is really not recommended. you will just waste time and money when you fail to make a profit because you are always moving tokens that experience -15%. if you pay attention to the market, the cryptocurrency that experiences very high volatility is only bitcoin because it wins, many people focus on trading there, but for crypto assets that are -10% or +10% in 24 hours, it must be a token that doesn't have good fundamentals.

I am not a financial adviser or have extensive experience in trading but I recommend only trading in the top 20 cryptocurrencies, because it is safer and has a good reputation, and if you want to become a day trader then your capital must be large (to cover your losses if you fail to make a profit on an asset).

Pamadar

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Quote from: Jody.Drummer on February 26, 2023, 11:56:26 AM

Yep, indeed in this case everyone returns to their respective choices whether they want to do whatever they like but it's not wrong to give advice not to get involved in trading first when you are still a beginner.

An advise is always good when you don't have enough knowledge with the business that you are going to take, it's always
have a good weight when deciding your first trade.

Quote

This is not gambling that only relies on instinct and luck but trading that requires analysis for it so that the conditions are good for them and of course to minimize losses.

Good point, and it should always take the right way, not a gambling where you will always rely with luck.

Quote

But if you insist on trading, then maybe you already know the risks involved and don't feel cheated if you get a loss there.

You should be ready and willing to take the risk if you wanted to pursue your investment inside this kind of business.

Jody.Drummer

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Quote from: Pamadar on February 26, 2023, 02:29:19 AM

Quote from: Jody.Drummer on February 25, 2023, 07:24:51 PM

Quote from: nurilham on February 25, 2023, 05:29:21 PM

I think long-term investment has the same risk as trading, both are high risk if we have no sufficient knowledge. I even think that day trading with a scalping method is more secure than a long-term investment. However, 'sufficient knowledge' is the key, never choose an investment or trading if we don't learn deeply about them. A beginner is better to focus on learning first whether about investment or trading. Don't hurry to choose BTC investment or trading crypto coins, choose them after learning them seriously!!

Conditions for bitcoin at least it's better if investment. Day trading? Scalping? Precisely this should be avoided by beginners. They have no basis or insufficient knowledge in terms of how they deal with scalping. this even though it provides a more intimate experience it becomes like suicide for them.
At least when investing in bitcoin for the long term from now on they can still be comfortable while learning further than having to jump in with day trading which clearly requires much greater experience.

The choice is for them to decide, but I like to follow your argument with scalping and day trading, newbies needs to learn the deeper side of this market before they perform or execute this kind of trading practice.

Without the knowledge that they need, the chance of failing and losing their investment is what they might
suffer along the way. It's your knowledge and understanding that will let you proceed and make some
decent profits from this business.

Yep, indeed in this case everyone returns to their respective choices whether they want to do whatever they like but it's not wrong to give advice not to get involved in trading first when you are still a beginner.
This is not gambling that only relies on instinct and luck but trading that requires analysis for it so that the conditions are good for them and of course to minimize losses.
But if you insist on trading, then maybe you already know the risks involved and don't feel cheated if you get a loss there.

peter0425

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Quote from: JamesDaniel90 on January 06, 2023, 05:56:15 AM

Quote from: tvplus006 on January 06, 2023, 05:47:48 AM

Quote from: JamesDaniel90 on January 05, 2023, 07:10:08 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...

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.

You are looking for too much advantage mate and it is not that easy lol. As if this market is just an easy step to be millionaire.
But sorry but it is not your way here.
Better to understand it hard and then decide where and when and which to buy.

Pamadar

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Quote from: Jody.Drummer on February 25, 2023, 07:24:51 PM

Quote from: nurilham on February 25, 2023, 05:29:21 PM

Quote from: Jody.Drummer on February 25, 2023, 03:05:04 PM

True, it is better to make long-term investments for beginners than to jump right into trading. Long term investments are less risky, especially if they are bitcoins. Instead trading has a very big risk, we are at risk of losing money in a very short time. Most beginners do have the wrong thinking, yes they think trading gives them profits in a short time without risk, that's what makes many of them beginners have bad experiences. However, they must study and have thorough knowledge before actually starting the entry.

I think long-term investment has the same risk as trading, both are high risk if we have no sufficient knowledge. I even think that day trading with a scalping method is more secure than a long-term investment. However, 'sufficient knowledge' is the key, never choose an investment or trading if we don't learn deeply about them. A beginner is better to focus on learning first whether about investment or trading. Don't hurry to choose BTC investment or trading crypto coins, choose them after learning them seriously!!

Conditions for bitcoin at least it's better if investment. Day trading? Scalping? Precisely this should be avoided by beginners. They have no basis or insufficient knowledge in terms of how they deal with scalping. this even though it provides a more intimate experience it becomes like suicide for them.
At least when investing in bitcoin for the long term from now on they can still be comfortable while learning further than having to jump in with day trading which clearly requires much greater experience.

The choice is for them to decide, but I like to follow your argument with scalping and day trading, newbies needs to learn the deeper side of this market before they perform or execute this kind of trading practice.

Without the knowledge that they need, the chance of failing and losing their investment is what they might
suffer along the way. It's your knowledge and understanding that will let you proceed and make some
decent profits from this business.

Tespata

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This is the case with most traders If I buy a token and hold it for a long time, but no profit comes, when I lose patience and sell the token and buy another token, it is seen that the one I sold is pumped.Otherwise I dump whatever token I buy and get los I thought why this happens only to me but I found out that almost the same thing happens to most traders I buy tokens that dump a lot so that I can get back to the previous position and get a lot of profit but most of the time that token doesn't pump anymore thus I lost a lot of my investment I can not understand what should be done.

Jody.Drummer

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Quote from: nurilham on February 25, 2023, 05:29:21 PM

Quote from: Jody.Drummer on February 25, 2023, 03:05:04 PM

True, it is better to make long-term investments for beginners than to jump right into trading. Long term investments are less risky, especially if they are bitcoins. Instead trading has a very big risk, we are at risk of losing money in a very short time. Most beginners do have the wrong thinking, yes they think trading gives them profits in a short time without risk, that's what makes many of them beginners have bad experiences. However, they must study and have thorough knowledge before actually starting the entry.

I think long-term investment has the same risk as trading, both are high risk if we have no sufficient knowledge. I even think that day trading with a scalping method is more secure than a long-term investment. However, 'sufficient knowledge' is the key, never choose an investment or trading if we don't learn deeply about them. A beginner is better to focus on learning first whether about investment or trading. Don't hurry to choose BTC investment or trading crypto coins, choose them after learning them seriously!!

Conditions for bitcoin at least it's better if investment. Day trading? Scalping? Precisely this should be avoided by beginners. They have no basis or insufficient knowledge in terms of how they deal with scalping. this even though it provides a more intimate experience it becomes like suicide for them.
At least when investing in bitcoin for the long term from now on they can still be comfortable while learning further than having to jump in with day trading which clearly requires much greater experience.

nurilham

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Quote from: Jody.Drummer on February 25, 2023, 03:05:04 PM

True, it is better to make long-term investments for beginners than to jump right into trading. Long term investments are less risky, especially if they are bitcoins. Instead trading has a very big risk, we are at risk of losing money in a very short time. Most beginners do have the wrong thinking, yes they think trading gives them profits in a short time without risk, that's what makes many of them beginners have bad experiences. However, they must study and have thorough knowledge before actually starting the entry.

I think long-term investment has the same risk as trading, both are high risk if we have no sufficient knowledge. I even think that day trading with a scalping method is more secure than a long-term investment. However, 'sufficient knowledge' is the key, never choose an investment or trading if we don't learn deeply about them. A beginner is better to focus on learning first whether about investment or trading. Don't hurry to choose BTC investment or trading crypto coins, choose them after learning them seriously!!

Jody.Drummer

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Quote from: Awaklara on February 25, 2023, 11:15:00 AM

Quote from: Rockstarguy on February 25, 2023, 02:11:26 AM

Bitcoin is always the best for trading and as for Beginners it is good to trade with Bitcoin because it is the most reliable to trade with. Trading with altcoin is too risky for traders, anything can happen at anytime.

although Bitcoin trading is better for beginners, it is more advisable to start with a long term investment first. although I also believe beginners will not be strong enough in long term investment planning.
many of the newbies think of crypto trading as giving short profits. they don't know that they are also at greater risk when they have such thoughts.
I hope there will be more beginners who think about experience first than thinking about profits in a short time.

True, it is better to make long-term investments for beginners than to jump right into trading. Long term investments are less risky, especially if they are bitcoins. Instead trading has a very big risk, we are at risk of losing money in a very short time. Most beginners do have the wrong thinking, yes they think trading gives them profits in a short time without risk, that's what makes many of them beginners have bad experiences. However, they must study and have thorough knowledge before actually starting the entry.

Awaklara

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Quote from: Rockstarguy on February 25, 2023, 02:11:26 AM

Bitcoin is always the best for trading and as for Beginners it is good to trade with Bitcoin because it is the most reliable to trade with. Trading with altcoin is too risky for traders, anything can happen at anytime.

although Bitcoin trading is better for beginners, it is more advisable to start with a long term investment first. although I also believe beginners will not be strong enough in long term investment planning.
many of the newbies think of crypto trading as giving short profits. they don't know that they are also at greater risk when they have such thoughts.
I hope there will be more beginners who think about experience first than thinking about profits in a short time.

Rockstarguy

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Quote from: Bitcoin_people on February 20, 2023, 11:11:52 AM

I think of course if you invest without understanding you will lose your money. In particular, you must first acquire a good knowledge of the market and take the advice of knowledgeable investors. And do a good analysis of the coins you invest in. But I think if you invest in bitcoin rather than investing in alt coin you won't be afraid of losing money in future.

The principal thing one needs to have ìn trading ìs understanding . It important beginners needs to learn and understand before putting their money into trading, because trading is not something that is done with a guess work. Beginners have to learn and understand good trading strategies that will be profitable.

Bitcoin is always the best for trading and as for Beginners it is good to trade with Bitcoin because it is the most reliable to trade with. Trading with altcoin is too risky for traders, anything can happen at anytime.

PancherSh

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Quote from: Gerandott on February 20, 2023, 11:08:16 PM

I think day trading is always very hard to earn hustle. You always win more if you invest and hodl. Of course, you can win much in a day when you trade but you will lose more the next day.

if you choose the right trading pair, with set volatility, then with the help of ETS, for example, on Binance, you can safely apply scalping and not much, but constantly make a profit.

JamesDaniel90

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Quote from: letteredhub on February 21, 2023, 03:38:03 AM

Quote from: JamesDaniel90 on January 05, 2023, 07:10:08 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.

Stop daydreaming and wake up mate, this your theory or perspective of trading is one that's clearly unrealistic and which could lead to unbelievable losses, in that, not because an altcoin falls down then it's assures a pumping for most altcoins that have fallen fall to diminishing end eventually disappearing. So be careful of what you do.

It worked for a while and I made 300% profit.

I have stopped trading now but may get back into it again soon.

letteredhub

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Quote from: JamesDaniel90 on January 05, 2023, 07:10:08 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.

Stop daydreaming and wake up mate, this your theory or perspective of trading is one that's clearly unrealistic and which could lead to unbelievable losses, in that, not because an altcoin falls down then it's assures a pumping for most altcoins that have fallen fall to diminishing end eventually disappearing. So be careful of what you do.

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