Topic: Trading Guide? - page 2. (Read 3201 times)

I guess luck must also be a key factor or am I wrong?

i'm also looking for a great guide to do trading with bitcoin but just like others said there's no real strategy it is just your patient and own risk and how far you want to learn and made your own strategy, i'm still collecting those beginners tut and keep on watching some online video before i proceed.. i will keep on eye with your thread and learn with you from the the advice of those members who already in trading platform..

I would say that the 1st thing you need to master is the risk management - knowing how to limit your downside.

You should deicde before entering the trade what you expect the market will do.
If the market doesn't behave as you have expected it, get out, even if you haven't lost money yet and wait for another opportunity.

Please be aware that to be a good trader you need a lot of patience.
Trading (whether it is forex, stocks or bitcoin) is not meant to be fun. If you start making trades just because you're bored, you might as well go into the casino.

You can try avatrade.com
They offer demo account with free $100k to polish your skill. Take note tho that I have never tried it before so there is no way I can vouch for it.
Or, you can try signing up on yobit, after 7 days, you can collect free coins, just like collecting sat on faucets minus the captcha, and from there you can start trading the altcoins you have collected. This will take some time as you need to collect an amount equivalent to about 10k sat  to be able to trade tho.
Alternatively, you can just deposit a small amount to any exchange or trading site you are most comfortable to use with and start trading right away with a meager amount while polishing your trading skill. You can move it up a notch higher when you have found your confidence.

Is there a trading site that has a so called demo account? (Like most of the forex sites) Maybe it can be useful to learn in the beginning and after it can be done on a live account as well.

Other than that, here I some questions you should answer yourself:

- what is your strategy ?
- what is your time horizon ?
- how much risk are you prepared to accept ?

My advice for the beginners is to start by watching the markets, do some "paper-trades", see what works and what doesn't and develop a trading plan.

Keep a diary of your trades, write down why you made each trade and over time you should see some patterns.

Hi,

maybe this will help:

Dealing with losses
A trader needs the self-discipline to stick to his plan and not be overtaken by the emotions of greed and fear.
When the trader expects the market to behave certain way, enters the trade and the market doesn’t perform as expected, the only correct course of action is the exit the trade.
Having to take losses is an integral part of trading – what matters is taking them early and not letting them to run away.
The trader cannot be stubborn or too proud – being right can never be more important to him than being profitable. Being a trader means being honest with oneself and being able to admit to being wrong.
Unlike in most of “ordinary” professions, in trading, there usually is not much grey area between being wrong and being right and little opportunity to blame the bad decisions on external factors – even though it’s tempting to look for excuses, the trader should always take full responsibility for all his decisions.
The trader has to remember that the market is always right, even if it’s behaving irrationally from his point of view – “markets can remain irrational longer than you can remain solvent”.
Staying in a losing position, apart from everything else, carries an opportunity cost – instead of hanging on to a bad trade, the trader could possibly use his skills and capital to generate profits from another trade.
The trader needs to learn to recognize the emotions he feels when he incurs the losses: they may range from self-pity to anger. When the trader is experiencing these emotions, his critical thinking is usually impaired and he might be not best placed to enter into another trade, even though this is often what his emotions are telling him to do (“revenge trading”). That is when taking a break usually is helpful and beneficial to the further performance of the trader.
No person is ever going to be able to completely eliminate emotions – one should be aware of them and learn to use them to his advantage.

Learning how to read the charts and candles can for sure help you and keep you from flipping a coin. Do not thinl people are looking for a guide to profit but how to guide in how to go about it.

A trading guide?

They're EVERYWHERE on the web. Just type trading guide on google.

The problem is not the theory. The problem is that nobody really understands trading.

As long as it works we're all here "yeah I expected that move, that's because of blah blah blah".

But sooner or later an unexpected event occures and BOOM huge loss or huge profit.
And no guide can teach you that

You have to look good out for altcoins with a good offers/sells that have on a day. I should not take an altcoin for example that only makes a few transfers on a day. That is a bit to risky. That's what i find. You can win very much, but also loose very much in a short time with such coins.
It is a little bit looking out for at what the lowest price was the last days and trying to buy some at that price.
Mostly have i had the luck that some time later they went again to a higher price.
ANyway, it stays always a risk and can go down very fast.
Never start with to big amounts. Try in the beginning with small amounts and try to learn and do some experience this way.

this is one of those things that you have to learn on the job, there is no prior teaching/guide/walkthrough that can help you trade well and earn money this way.
there are some general terminologies and some analysis but their usefulness in this market is not good.

I think there in no real guide for trading , but i will advice you to put your order a little lower (never affected by trader manipulation) or a little higher in case you want to buy\sell then be strong with a good amount of patience .
Very important rules you have to know first what you are going to buy .
thanks

Maybe somoene have some trading guide,guys I really need help, I will help you with other some questions.I am good guy

I think one of the best guides is just knowing the motto "buy low and sell high" and then having a good amount of patience to not buy sell out of emotion. Learning to master that is more valuable than many trading guides. However, I would also be interested in one of that if someone supplies it.

I've been into trading altcoins for quite some time now but I cant say I follow certain guide. I just buy some coins base on trading volume and set a sell order for how much profit I want to take. Of course that should be realistic price though to hit that sell order. Maybe about 5 to 10 percent. I always makes profit by doing such but if ever a certain coin takes a drop in its price, I just hold it and wait for a rebound. I lost some by doing this but hey, trading is also a gamble, ayt?

You need to be more specific on what type of trading you would like to have a tutorial about.If you still have no idea how to trade or what type of niche you should be involved in.You need to google first about the exchanges and how the system works.I think not having an idea with blatant intentions of making profits won't land you anywhere .Be specific,choose a system then master it.

It may be written by users of the forum then right?

Usually such tips are given on websites itself (www.coindesk.com/information/sell-bitcoin/, www.forexnews.com/bitcoin-trading/
)

However, OP already must have knowledge of these basics but strategy based guides are needed to earn profits and not just trading guides.

there isn't a step by step guide to trade, especially whit bitcoin also technical analysis don't work properly, the advice is to know some psicology behind the market moves

of course there is a guide. i got a vouch copy from an ebook seller last month, the pdf don't really explain much but it contains basic of how to do it from which altcoin to buy and which exchange to use. it even tells about how to profit by arbitrage. its just very basic thing but yes its help[ful for a newbie like me when it comes to crypto trading. you may wanna find it in the digital goods section in the market place.

There's no trading guide that can help you to improve your earnings as everyone has their own strategy. Bit-x and others do charge fees for your trades but you need to have an investment of over 0.2-0.3 BTC to earn a good profit. Eg: Yesterday the price of bTC was $371 and today the price is $388 and hence if you had a buy trade of 0.25 BTC yesterday ($92.75) and today you would sell the same at $97 which makes you earn a profit of atleast 4.5 which isn't that great but it's good for the start.