Before you even consider trading as a side income source have you taken the time to do proper research on trading? Unless you have had an experience in it and you know how it works, but if you have not, I will advise you to take your time and learn about it so that you don’t lose some money for no reason.
Trading is not an easy thing to do, you have to understand it first and the risks that are involved. When I started at first I had to be working with my friends because I don’t know how it is being done, I just watch them and place trades once they do, and I was making profit when they do, and also loss when they lose. I kept doing it this way until I learnt how to trade by myself. Even now I’d still say that there are much left for me to learn.
Topic: Trading for Beginners? - page 2. (Read 1930 times)
Hello,
I was a beginner not so long ago, and now thanks to several online blogs like this one: https://juliesommaruga.fr and articles about trading and how to become successful, I got better. I'm not saying I'm an expert, but let's say I'm in between
I was a beginner not so long ago, and now thanks to several online blogs like this one: https://juliesommaruga.fr and articles about trading and how to become successful, I got better. I'm not saying I'm an expert, but let's say I'm in between
From my own experience I can say that trading Bitcoin is much easier compared to all other market assets.
However, trading Bitcoin itself is insanely complicated, that is, you understand that trading other assets other than Bitcoin is even more difficult.
The main difficulty is that they will constantly try to deceive you.
You will be constantly set traps in the market, large players can easily manipulate the price of bitcoin even at the right time, when you will not expect it, when you are sure that you are doing absolutely right now,
and the next transaction will bring you profit, at that very moment the market will play in the opposite direction, plunging you into complete bewilderment with its irrationality.
There are a lot of similar situations on the market, which greatly complicates the trading based on logic and analysis. It is difficult both financially and psychological.
Therefore, I recommend that you study the market from the side, use a demo account or a paper account, do not rush to make real money in the market, and do not trade using leverage.
However, trading Bitcoin itself is insanely complicated, that is, you understand that trading other assets other than Bitcoin is even more difficult.
The main difficulty is that they will constantly try to deceive you.
You will be constantly set traps in the market, large players can easily manipulate the price of bitcoin even at the right time, when you will not expect it, when you are sure that you are doing absolutely right now,
and the next transaction will bring you profit, at that very moment the market will play in the opposite direction, plunging you into complete bewilderment with its irrationality.
There are a lot of similar situations on the market, which greatly complicates the trading based on logic and analysis. It is difficult both financially and psychological.
Therefore, I recommend that you study the market from the side, use a demo account or a paper account, do not rush to make real money in the market, and do not trade using leverage.
HI,
Over the years I've acquired around a few hundred dollars worth of bitcoin. I'm now looking to sell off part of my coins and start trading on the side of what I do personally for work. I was in the bitcoin scene awhile ago but i'm looking to get back into it. My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.
Regards,
Kyle aka Aggressive
Over the years I've acquired around a few hundred dollars worth of bitcoin. I'm now looking to sell off part of my coins and start trading on the side of what I do personally for work. I was in the bitcoin scene awhile ago but i'm looking to get back into it. My question to everyone here is: What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.
Regards,
Kyle aka Aggressive
Hello mate! Try to use professional software, like, for instance https://www.bitinsure.com/
The idea is to trade systemetically and monitor risks.
This is possible to do manually or with the help of software I shared
Just calculate your risks and get alerts when they are reached!
It doesn't matter if it is crypto or stocks or forex or anything else, all of the advises I have ever seen all comes down to same thing, practice. If you want to be a trader you have to trade, if you want to be a coder you have to code, if you want to be a musician you have to do it.
Without actually doing what you want to become, you can't ever become that thing by just reading, sure you have to have a general broad understanding of it before you start and know what you are doing and you have to study it a bit before hand but the best case comes when you do something and fail at it and study what you failed instead of not even trying yourself and prepare yourself beforehand. All of the great traders in the world started by doing something wrong but then learning from their mistakes, that is how you become good at anything in life.
Without actually doing what you want to become, you can't ever become that thing by just reading, sure you have to have a general broad understanding of it before you start and know what you are doing and you have to study it a bit before hand but the best case comes when you do something and fail at it and study what you failed instead of not even trying yourself and prepare yourself beforehand. All of the great traders in the world started by doing something wrong but then learning from their mistakes, that is how you become good at anything in life.
Capital is also an important part of investing and trading.
Without a good start or a good capital, the choices you will be having is limited. You might not be able to choose a great investment or asset since you are looking for a specific one, the one that you can afford. As a beginner, better maintain your investments into safe ones rather than being aggressive and pick anything that you see that promises your profits. Most importantly, gain knowledge as you can. As time passes, you will gain experience and after that, I think you don't need other tips than that.
This is something newbies forget all the time, they think they can trade an earn a fortune that way but in order for that to happen you need a decent amount of capital otherwise the exchange fees, the slippage, and the transactions fees are going to eat whatever profits you may have in the market really quickly, it is better to wait until you can get more money and use that time to make absolutely sure that your strategy is going to make money in the markets no matter what. Without a good start or a good capital, the choices you will be having is limited. You might not be able to choose a great investment or asset since you are looking for a specific one, the one that you can afford. As a beginner, better maintain your investments into safe ones rather than being aggressive and pick anything that you see that promises your profits. Most importantly, gain knowledge as you can. As time passes, you will gain experience and after that, I think you don't need other tips than that.
When I want to learn something new, I always find someone who is where I want to be, and then learn from them. In this case I would start paper trading first while you are learning so you don't have to risk your real funds.
For me personally, the most important aspects of trading are understanding support and resistance, managing your risk and controlling your emotions.
For me personally, the most important aspects of trading are understanding support and resistance, managing your risk and controlling your emotions.
There is no other way for a beginner trader, unless a lot of learning to understand the market as a whole.
Start trading with a little capital, study technical analysis little by little, do your own research until you really can get enough profit.
If you want to use a pretty good trading site, try it at Binance there without making KYC, but what you need to avoid as a beginner trader is trading margin and futures on Binance.
All of us are from beginners, and when I was a beginner I only used Market Bittrex as my trading place. And I think that is a very suitable market for beginners. But there requires us to KYC, so for beginners who avoid it then can choose the market that you recommend, Binance Exchange. Start trading with a little capital, study technical analysis little by little, do your own research until you really can get enough profit.
If you want to use a pretty good trading site, try it at Binance there without making KYC, but what you need to avoid as a beginner trader is trading margin and futures on Binance.
What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.
There is no other way for a beginner trader, unless a lot of learning to understand the market as a whole.Start trading with a little capital, study technical analysis little by little, do your own research until you really can get enough profit.
If you want to use a pretty good trading site, try it at Binance there without making KYC, but what you need to avoid as a beginner trader is trading margin and futures on Binance.
Binance if i am not mistaken offers trading for testing?free to trade without losing any amount?this is what i have read in other thread when someone is asking about free trading tutorials.Really are they allow to trade freely, till now I have not gone through this type of message from them? Of course, the tutorial is very important to learn basic things about the trading and how far the cryptocurrency will work, this will surely help the newcomers to attract this type of tutorial.
What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.
There is no other way for a beginner trader, unless a lot of learning to understand the market as a whole.Start trading with a little capital, study technical analysis little by little, do your own research until you really can get enough profit.
If you want to use a pretty good trading site, try it at Binance there without making KYC, but what you need to avoid as a beginner trader is trading margin and futures on Binance.
Binance if i am not mistaken offers trading for testing?free to trade without losing any amount?this is what i have read in other thread when someone is asking about free trading tutorials. 
The most important thing to note as a beginner is: choose the candle stick that more convince to you and so more research into the platform. Never buy low and sell high if you cannot research into the said coins to buy at that particular time. Always watch the market movement before you made a move. Ensure to read TAs well not to get or run at lost as a beginner. You could also follow some good traders on the social medias to get information about any pump and dump coins.
As a beginner joining pump and dump group should not be encourage because it may be dangerous to their capital. Studying candle stick in details with all the partern will really help beginners to gain good knowledge of what trading crypto currency entails and for them to be successful in their trading.A beginner should always think twice before joining any groups, most of the dump and pump groups will make most of the money. Most of the beginner will find it difficult to predict the charts because of the drops are very huge in cryptocurrency. In order to become successful, they need to get some experience in cryptocurrency by practising in demo accounts.
Everyone starts their life as an infant similarly everyone starts their trading as a beginner. No exceptions. So, there are definitely enough room for beginners into crypto trading as well.
What makes difference is, continuous learning. People who are ignoring to learn from all the opportunities, they are coming across, staying a beginner forever in trading whereas people who are finding time to learn and making use of their experience while trading are slowly moving toward the position of professional trader.
I mean to say no one should get fear of entering into trading as a beginner but they must find time to learn different strategies and plans of trading. When they are good in discipline while trading they can definitely make profits and being discipline in every kind of management in trading then they will be no more the beginners.
The trouble for all beginners is to leave emotions out the window when they are trading, unfortunately trading world has no place for what you think or what you feel about a coin, if you just do what you feel and follow your emotions you will get poor very quickly in this market.What makes difference is, continuous learning. People who are ignoring to learn from all the opportunities, they are coming across, staying a beginner forever in trading whereas people who are finding time to learn and making use of their experience while trading are slowly moving toward the position of professional trader.
I mean to say no one should get fear of entering into trading as a beginner but they must find time to learn different strategies and plans of trading. When they are good in discipline while trading they can definitely make profits and being discipline in every kind of management in trading then they will be no more the beginners.
You have to be ruthless and cunning and do whatever you can to make money, if you are ever soft even for once then you will get all of your money gone in a quick second. That is what happened to everyone who have used their emotions when trading and it will continue like that for a long time as well. If you manage to hone down your emotions and only see these as numbers and only care about the statistics, you have a chance of making profits in this market, that is the only possible way of doing it.
For the bigginer of trading its a difficult work . But if the person who want to start the trading he should focus on its work to get the profit. This is also a good point to earn the profit .Trading it is likes gambling when someone will try to want huge profit in unremittingly, greedy mentality will made but
you a gambler in trading or anywhere. Beginners traders faced many times losses in the first time but many traders stopped when not this is control frustration and their emotion. You are correct, game gambling and trading those are different excitement.
you a gambler in trading or anywhere. Beginners traders faced many times losses in the first time but many traders stopped when not this is control frustration and their emotion. You are correct, game gambling and trading those are different excitement.
What are the DOs and DONTs of bitcoin trading? Also any other advice for a beginner would be helpful. I'm new to this site, so i'm sorry if there is already a thread posted about this. Also, what are the best sites to use for trading through experience? Complexity doesn't matter to me. Thanks in advance for any help I receive.
There is no other way for a beginner trader, unless a lot of learning to understand the market as a whole.Start trading with a little capital, study technical analysis little by little, do your own research until you really can get enough profit.
If you want to use a pretty good trading site, try it at Binance there without making KYC, but what you need to avoid as a beginner trader is trading margin and futures on Binance.
Everyone starts their life as an infant similarly everyone starts their trading as a beginner. No exceptions. So, there are definitely enough room for beginners into crypto trading as well.
What makes difference is, continuous learning. People who are ignoring to learn from all the opportunities, they are coming across, staying a beginner forever in trading whereas people who are finding time to learn and making use of their experience while trading are slowly moving toward the position of professional trader.
I mean to say no one should get fear of entering into trading as a beginner but they must find time to learn different strategies and plans of trading. When they are good in discipline while trading they can definitely make profits and being discipline in every kind of management in trading then they will be no more the beginners.
What makes difference is, continuous learning. People who are ignoring to learn from all the opportunities, they are coming across, staying a beginner forever in trading whereas people who are finding time to learn and making use of their experience while trading are slowly moving toward the position of professional trader.
I mean to say no one should get fear of entering into trading as a beginner but they must find time to learn different strategies and plans of trading. When they are good in discipline while trading they can definitely make profits and being discipline in every kind of management in trading then they will be no more the beginners.
~~snip
None of the trader here is successful without taking any risks. We all had to face a number of risks which also demotivated most of us but yet we did never stop and keep on trading. Trading is really a trickiest thing I even went through. Even sometimes I feel gambling a way lot easier than trading.A training with demo account to get a first experience on how trading works would be really good. Try to find a real time demo trading platform and try to apply different strategies and see which one that would work for you. Then when you start, do so with a small amount, there’s nothing wrong with starting small and getting little profit.
I agree with you because most of new trader always avoid practice using demo account, the effect is the don't know the field and confuse when market goes at the wrong direction. For testing strategy I suggest to join competition, if success we can use it and get prize if fail just fix it. Trading is long journey and need hard work, if you want rich from trading I suggest to leave it because profit is the last goal, fist goal is grow up capital.
Capital is also an important part of investing and trading.
Without a good start or a good capital, the choices you will be having is limited. You might not be able to choose a great investment or asset since you are looking for a specific one, the one that you can afford. As a beginner, better maintain your investments into safe ones rather than being aggressive and pick anything that you see that promises your profits. Most importantly, gain knowledge as you can. As time passes, you will gain experience and after that, I think you don't need other tips than that.
A training with demo account to get a first experience on how trading works would be really good. Try to find a real time demo trading platform and try to apply different strategies and see which one that would work for you. Then when you start, do so with a small amount, there’s nothing wrong with starting small and getting little profit.
I agree with you because most of new trader always avoid practice using demo account, the effect is the don't know the field and confuse when market goes at the wrong direction. For testing strategy I suggest to join competition, if success we can use it and get prize if fail just fix it. Trading is long journey and need hard work, if you want rich from trading I suggest to leave it because profit is the last goal, fist goal is grow up capital.
I am basing in my own experiences so i do understand them.
You have good advices here mate and this will help many newbies to understand what this all bout,as they need many of this advice .
-snip-
The best thing to do is to have plan. Planning is essential in all aspects especially when it comes in trading, because when we do not have plan, there are more mistakes to come and have a big loss of money. The other think you need to do is to learned how trading works like bull market and bear market. Bull market is just simply a bull but when we give them a deep meaning is symbolizes price are rising, because the bull acts his horns up while the bear market swipes its paws downward, so that it symbolizes as by falling prices.
He already has a plan, to start trading with some part of his saving. In trading timing is everything, I would suggest to OP to start with some small amount and to try to sell at top, or at least close to top, and of course to buy when price is at bottom, or at least close to it.
Of course nobody can't predict top and bottom, that's why you have more than one sell order, and of course more than one buy order. You check from time to time your orders, if they are executed you make new ones. We never know will price change direction, we don't know where is heading, so I suggest newbies to always have some dollars and bitcoins on a side, if price surprise you and do something unexpected you need to have some bitcoins to sell, or dollars to buy, depending where price went.
The most important thing to note as a beginner is: choose the candle stick that more convince to you and so more research into the platform. Never buy low and sell high if you cannot research into the said coins to buy at that particular time. Always watch the market movement before you made a move. Ensure to read TAs well not to get or run at lost as a beginner. You could also follow some good traders on the social medias to get information about any pump and dump coins.
As a beginner joining pump and dump group should not be encourage because it may be dangerous to their capital. Studying candle stick in details with all the partern will really help beginners to gain good knowledge of what trading crypto currency entails and for them to be successful in their trading.A beginner should always think twice before joining any groups, most of the dump and pump groups will make most of the money. Most of the beginner will find it difficult to predict the charts because of the drops are very huge in cryptocurrency. In order to become successful, they need to get some experience in cryptocurrency by practising in demo accounts.
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