Trading for Beginners? - page 3. | Bitcointalksearch.org

nicolas1979

sr. member

Activity: 826

Merit: 252

Quote from: fullhdpixel on January 31, 2020, 11:17:51 AM

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.

LUCKMCFLY

legendary

Activity: 2590

Merit: 1882

Leading Crypto Sports Betting & Casino Platform

Quote from: redsun114 on February 13, 2020, 08:38:30 AM

The number one thing you should not do when it comes to cryptocurrency trading is trading without a plan. That’s why you have to learn trading and know how to create the perfect plan that works for you.

If you just decide to start trading without having any then you’re heading down to a big loss. Just like some people that prefers to just gamble with it and see whether luck would be on their side, that’s very bad and you might even end up not getting anything at all. After you might have learnt about how to plan your trade, the next thing should be Stop Loss.

Stop Loss is very important, seriously your trading plan can turn out to be wrong and the only thing that would save your ass from that big loss is this stop loss. Another thing you should never try is choosing cryptocurrencies that you have not researched. I guess these are enough. Good luck with your trade.

I agree with you, I think that "Stop Loss" and "Take Profit" should be essential to start any trade, when it comes to trading it is good to have a plan based on a study either AT or Fundamental, in my case only I operate 3 Trades, where I make sure to leave with a positive balance, of course I place my "Stop Loss" adjusted at less than 10% risk and a "Take Profit" earning x3 is medium and long term.

TrevorS

sr. member

Activity: 1050

Merit: 377

Quote from: Kurokonobasuke on February 13, 2020, 11:35:22 AM

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.

You are right, however, in order for you to have a plan you must understand how the market works.
In fact, you can get into a boat and go to sea and depending on the waves build your strategy on how to get from point A to point B.

The same is true in the crypto market, you can open an account in which you will focus only on intuition and your understanding market.
Of course, it is very likely that you will lose the entire deposit, so it should consist of not real money.
A demo account is exactly what you need to probe the market and understand the market mechanisms for influencing you.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: redsun114 on February 13, 2020, 08:38:30 AM

The number one thing you should not do when it comes to cryptocurrency trading is trading without a plan. That’s why you have to learn trading and know how to create the perfect plan that works for you.

To this I will add that not only it is important to have a plan you need to verify that plan works and that you follow that plan, it is very easy to look at the charts and what the price did in the past and come up with a strategy that makes money but as soon as you need to apply that strategy and you have to face the live markets you do not want to follow it, especially if you are using an amount of money that is significant to you and in the case you lose that it could affect your life.

Kurokonobasuke

full member

Activity: 546

Merit: 122

★777Coin.com★ Fun BTC Casino!

Quote from: Aggressive on January 24, 2020, 10:29:45 PM

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

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.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Quote from: AicecreaME on February 07, 2020, 10:01:58 AM

Quote from: Yatsan on January 25, 2020, 12:47:07 AM

~snips~

Buying Low and Selling high is not bad at all, this is the simplest form of the explanations you've said. For example, you're teaching your kids math, you wouldn't teach them Calculus on the spot but you are going instead for the basic, which is 1 + 1 = 2, simple as that. Beginners can't adopt what professional traders do easily, they have to take step by step process on being a Trader they wanted to be.

Though what you have said was all true, I agree about that. On the other side of it, it would be more helpful if you're going to show some actual trading proofs (images) for them to easily understand your advice.

What the OP said reflects the right opinion, starting with a small balance will be healthier. In terms of profitability and managing risk, it is too early to expect from the novice trader to show that trading skills.

The basement idea is to buy low and sell high but applying this gold technic requires deep trading skills, risk management, market understanding. Surviving among the sharks and protecting the stop limit order from stop hunters are the second layer requirements for new traders who applied the right skills on the previous level of trading. Btw, there are a lot of trade-education platforms for learning the basics aka indicators, fundamental analysis.

spike420211

sr. member

Activity: 1610

Merit: 372

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.

redsun114

hero member

Activity: 2730

Merit: 585

Leading Crypto Sports Betting & Casino Platform

The number one thing you should not do when it comes to cryptocurrency trading is trading without a plan. That’s why you have to learn trading and know how to create the perfect plan that works for you.

If you just decide to start trading without having any then you’re heading down to a big loss. Just like some people that prefers to just gamble with it and see whether luck would be on their side, that’s very bad and you might even end up not getting anything at all. After you might have learnt about how to plan your trade, the next thing should be Stop Loss.

Stop Loss is very important, seriously your trading plan can turn out to be wrong and the only thing that would save your ass from that big loss is this stop loss. Another thing you should never try is choosing cryptocurrencies that you have not researched. I guess these are enough. Good luck with your trade.

Bagaji

sr. member

Activity: 1330

Merit: 291

Quote from: Sebas.tian on January 30, 2020, 03:15:04 PM

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.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: adzino on February 04, 2020, 02:37:28 PM

You should reduce the font size (or just use the standard default size). Kinda hard to read if you keep the font size too big.
Anyways, just couple of hundred dollars in BTC is not enough for trading. I mean, yeah you can trade with those, but you won't be making much of a profit. The time you would be spending behind trading wouldn't be worth it at all. But since you are new, low investment will actually help you to learn how to trade and you won't be losing much due to small capital. Just start small, try different kind of investments and learn from your mistakes.

When you are just beginning a couple hundreds of dollars is enough to begin to practice your strategy and see if you can be really profitable with your trading, but if you really want to make profits in the markets you have no other option but to invest more money than that, after all if you do not then there is no point in trading since most likely you will earn more money in your day job than whatever you could get out out of your trading activities with that low capital.

wxxyrqa

full member

Activity: 1372

Merit: 133

Quote from: AicecreaME on February 07, 2020, 10:01:58 AM

Buying Low and Selling high is not bad at all, this is the simplest form of the explanations you've said. For example, you're teaching your kids math, you wouldn't teach them Calculus on the spot but you are going instead for the basic, which is 1 + 1 = 2, simple as that. Beginners can't adopt what professional traders do easily, they have to take step by step process on being a Trader they wanted to be.

Though what you have said was all true, I agree about that. On the other side of it, it would be more helpful if you're going to show some actual trading proofs (images) for them to easily understand your advice.

Many traders, when they started their activities in the cryptocurrency market, faced various problems and, first of all, with the advice and training of people who instilled confidence that cryptocurrency trading is an easy activity and the main thing is to sell at a higher price and buy cheaper. But if you adhere only to this understanding, then collapse and loss are inevitable, since the trader must first of all have the knowledge to analyze the chart of the coin in order to choose the best time to complete transactions, and you also need to set a goal and clearly adhere to the plan using a specific strategy. Of course, my words are still fairly unfounded, because I do not have much experience, but nevertheless, I begin to understand this process and what is the great danger. I’m just starting to use the strategy of scaling to master this strategy fully, Before I start working in other directions.

AicecreaME

sr. member

Activity: 2436

Merit: 455

Quote from: Yatsan on January 25, 2020, 12:47:07 AM

~snips~

Buying Low and Selling high is not bad at all, this is the simplest form of the explanations you've said. For example, you're teaching your kids math, you wouldn't teach them Calculus on the spot but you are going instead for the basic, which is 1 + 1 = 2, simple as that. Beginners can't adopt what professional traders do easily, they have to take step by step process on being a Trader they wanted to be.

Though what you have said was all true, I agree about that. On the other side of it, it would be more helpful if you're going to show some actual trading proofs (images) for them to easily understand your advice.

sana54210

legendary

Activity: 3318

Merit: 1128

There are 100s of dos and don'ts for all level of traders which means beginners might be having some multiple of them as they are still in learning process of trading.

For the capital of $100, I suggest to risk only $40 of them into highly volatile yet highly reputed altcoins like ethereum or litecoin or dash. These coins may get you 5% to 10% profits if you catch their exact low prices in short term otherwise you may able to hold and wait until you will be getting some 20% to 30% profits but remember for that you may need to wait for months to year.

Trading requires lot of attention and dedication in terms of finding the right assets and finding the right entry and exit levels. But, everything could be achieved in slow progress of learning and practicing. Because, all the traders were beginners when they got into trading

.

adzino

copper member

Activity: 2968

Merit: 575

www.Crypto.Games: Multiple coins, multiple games

You should reduce the font size (or just use the standard default size). Kinda hard to read if you keep the font size too big.
Anyways, just couple of hundred dollars in BTC is not enough for trading. I mean, yeah you can trade with those, but you won't be making much of a profit. The time you would be spending behind trading wouldn't be worth it at all. But since you are new, low investment will actually help you to learn how to trade and you won't be losing much due to small capital. Just start small, try different kind of investments and learn from your mistakes.

Faxmate

sr. member

Activity: 1071

Merit: 253

Quote from: LUCKMCFLY on February 03, 2020, 08:40:55 AM

Quote from: Aggressive on January 24, 2020, 10:29:45 PM

~snip~

There are many things you should keep in mind, my personal advice is as follows:

1.- You must establish if you want to be a market speculator or Investor.

2.- If you want to be a market speculator, you must be clear that you must follow the line of least resistance in the market, no matter if the market rises or falls, you must follow the direction of the market and hunt the movements.

3.- Do not let yourself be guided by any technical analysis, there are many who just want to monetize with advice that they do not follow, I recommend you read books by speculators like Wyckoff, Livermore, so that you learn to understand the market, even when you have arguments you will be able to separate the good from the bad of information.

4.- If you want to be an investor, the most advisable thing is to sell all Altcoin, put it in Bitcoin and leave it there until a new bullish trend process is recommended.

All those are really good ideas for trading mate we should get into trading for fast and safe profit but it all about us how to keep safe from lose abs from scamming so just be very careful in trading specially when you are starting your new journey in trading. Better focus on making research and don’t stop learning as knowledge is the basic need of trading.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: wozzek23 on January 30, 2020, 01:01:50 PM

^^ That is the correct approach towards trading when you are beginner, a lot of people lose when they first start and they suddenly became cold against trading because they lost money on it and never come back or come back on a worse time.

If you lose money, know that someone else made that money instead of you, this is a game where one side wins while others lose so that means whenever you lose money someone else made that money instead, even if its just bitcoin going down and you selling or buying at the wrong time means someone else "lost less" than you. The thing as a newbie what you should do is study your losses and study your wins and try to find where you did wrong and then going after it better next time instead of never even touching it ever again, that way you can get better.

Unfortunately this is a concept that many traders do not understand, they do not seem to get they are in one of the most ruthless competitions in the entire world, a competition in which you are fighting against every single other trader in the world, this is why traders have the idea they can make a fortune in this market in weeks, when in reality the few traders that did that took a huge risk and were just lucky, this is why the first skill that a newbie should learn is money management since that will reduce your losses at the beginning but since that is not exciting they do not take the time to learn such a crucial skill.

Twentyonepaylots

sr. member

Activity: 1918

Merit: 370

Quote from: coin_1122 on January 31, 2020, 11:49:06 AM

Quote from: fullhdpixel on January 31, 2020, 11:17:51 AM

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.

As time goes on and you’re getting perfect with the business you can then be increasing the amount you put in for the trade. And do your best not to trade with emotion or it’s going to ruin everything.

In cryptocurrency, there is no demo platform for the beginners, I hope in Forex trading, there is a demo version for the beginners but it is completely different from the cryptocurrency. But we can implement all our experience which we learned in Forex, trading is completely different even an experienced person will face some difficult situations.

What you can do at the very least for the lack of demo accounts on cryptocurrencies is to create a dummy account thrown in with a few cryptos so you can just test the waters. That way, you wouldn't lose everything all at once and you'll gain some valuable insights on how to invest in crypto without breaking the bank

Have done that when i first started in cryptocurrency trading, gave me valuable information on how to strategize my investments to gain the most profits while losing money as seldom as possible.

LUCKMCFLY

legendary

Activity: 2590

Merit: 1882

Leading Crypto Sports Betting & Casino Platform

Quote from: Aggressive on January 24, 2020, 10:29:45 PM

~snip~

There are many things you should keep in mind, my personal advice is as follows:

1.- You must establish if you want to be a market speculator or Investor.

2.- If you want to be a market speculator, you must be clear that you must follow the line of least resistance in the market, no matter if the market rises or falls, you must follow the direction of the market and hunt the movements.

3.- Do not let yourself be guided by any technical analysis, there are many who just want to monetize with advice that they do not follow, I recommend you read books by speculators like Wyckoff, Livermore, so that you learn to understand the market, even when you have arguments you will be able to separate the good from the bad of information.

4.- If you want to be an investor, the most advisable thing is to sell all Altcoin, put it in Bitcoin and leave it there until a new bullish trend process is recommended.

@prashant

hero member

Activity: 910

Merit: 505

First of all go through a basic tutorial on reading charts and learn various market strategies then you can use demo account and check your skills and continue to improve before going with real money. Patience is most basic and necessary criteria if you want to be good trader , in initial phase avoid bot trading and do manual short targets. Later on depending on your skills you can increase your threshold and earn good profit.

Assface16678

full member

Activity: 1484

Merit: 136

★Bitvest.io★ Play Plinko or Invest!

Quote from: Negotiation on February 02, 2020, 03:51:36 AM

Quote from: Touheedkhan78 on February 02, 2020, 12:26:48 AM

For Trading you must have a plan how many percentage you daily want on your portfolio and don't take risks in starting point

I agree with you but other than that many of the risk of trading newcomers do not know that they often lose their money after greed For this reason before trading you need to research different places and trade trading charts. Before investing you need to check if the place is worth the dependence.

I want to share my trading experience too and all of my learnings to my entire life of trading and In the beginner phase of my trading it takes me for over three weeks to study about the process of earning in trading and after a few days before I start into the real world of trading. One of the things we need to do in trading always be ready to prepare your mind about the possible things will happen on your trades using your knowledge so you can decide what kind of action you will do avoid loss of money. A trader always aims for profit. When the price comes high low grab the opportunity to predict when the price drops don't get scared and pull out your money avoid this because you cannot get any profit if you will always be afraid of falling your income. The market price is volatile. Ever think about the things you do.

Topic: Trading for Beginners? - page 3. (Read 1930 times)