Topic: Trading Newbie - page 13. (Read 22206 times)

I agree that this kind of trading pair is best for new comers.  This will mostly have stable buy support and Newbie can pratice what they have learned form textbooks here.  Unlike with altcoin with much of unstable support,  anytime the market can collapse and not good for a trader who is just learning how to trade.

This is the common mistakes of Newbie, and was my mistake too when i was starting out.  There are little knowledge on what coin to trade, but I think it is better to look at the buy support if we are to invest in some coins.  If it has a stable buy support, meaning a huge dump cant make it crash, there is a possibility that the coin will go up in value.

I was started in very cheap altcoin in newly release altcoin like 1 sat each.. and wait for few days if the price was increase even 10 sat i sell just to feel how to trade until i can go to other and learn more and gain some strategy also always ask for other people what their methods and try and try to become success if you are gaining good you can apply also in big investment..
For now i can do it for small amount since i have no large budget in trading. but hoping to gain 1btc so that i will stay at bitcoin trading usd to btc..

yeah there is many cheap altcoin available on yobit exchange and i think first of all you trade with cheap coin for practice as a experience and if you get skill and expert then you should trade with a stronger currency.

If you are looking for a cheap altcoin the exchange for that thins is Yobit, most coins in this platform has a cheap price because majority of them are shit coins. But many coins here are pump and dump which means your small investment can be x10 up to x100 just be patience to wait.

Trading is always an unpredictable job also completely risk involved in it.Always try to analyse yourself before investing into any coin, don't invest more money into trading, think twice before investing go through with all the market charts first of all don't listen who trolling in troll box.

Holy fucking shit. You're so eager to start scamming people it's outright creepy. I'll just assume you misunderstood what you responded to.

Organizing a pump-and-dump scam on Skype is NOT "trading" or "strategy" but criminal activity.

If you join in with their shitty schemes, that would prove two things about you:

  1) you're the same kind of immoral scum they are (no question there)
  2) you're a fucking idiot and a gullible fool (see explanation below)

Why would you think that the petty criminals who organize your awesome little Skype group would have more respect to pitiful moronic you than to the general public? They will use you to help them push that price, but (unless you make it to the inner circle: you won't) they'll forget to tell you when the dump happens. Or, they'll tell you just late enough that it would seem like an honest mistake; they want your pathetic self (more like: your shitty coins) around next time as well, after all.

I hope you realize it's not a good idea to join those Skype groups.
I hope you realize it for the 1st point: it's fucking immoral.

Check out the resources from my post just above, and you'll learn about trading, not scamming. The good thing is that trading is much more interesting, and has much more depth to it, than scamming people, which is pretty easy, considering the amount of fools out there.

I have no illusions this post will make much of a difference towards the general state of things. This moral filthdump of humanity always flocks at the promise of quick money even at the price of deliberately wronging others. Crypto has zero effective regulation, it's perfect to bring out the honest self (which is usually the selfish criminal) in everybody.

That's right folk, I'm interested when you talk about getting the strategy of trading in others Skype group. Where I can join it? I want learn more about trading strategy.

Same i still newbie in trading i am still not pro but i can earn few bitcoins there.. but sometimes i am lose. but i am happy while i am earnings new strategy that i get from other skype groups and how they are spreading and pushing the price until high price..
If you can handle a large amount of bitcoin you can manage a good earnings in trading just do not invest in ICO most of the are scam coins and shitcoins.. i never invest there again..

And the best market for trading is Poloniex or Bittrex. When I'm a newbie I like trading in both market, and now I'm still a newbie 
There, we can get more altcoin with high volume.

Let me start with this: crypto trading is insane. Most coins have such a low market cap that just one or a few players can drive the price up or down significantly. It's the Wild West of economy: buying a variety of dormant coins and then waiting for the next pump may actually be a viable strategy. I can't decide if trading crypto is the best or the worst idea, to be honest. With this out of the way...

Read some books from actual traders. For one, Nassim Taleb's "Fooled by Randomness" can help to develop some "understanding about the misunderstandings" about trading (among other things in life, I may add.) Read the classics: Reminiscences of a Stock Operator, Market Wizards. Listen to Podcasts, too: Better System Trader and Chat With Traders are really good.

Avoid crap from those who are not traders. Or those who went bust, which includes Nobel laureate economists behind the Modern Portfolio Theory, who piloted LTCM to the ground, prompting a few banks to bail them out just to save the world economy; "smart money" isn't all that smart, after all. In general, most who write about trading have never traded, haven't traded for decades, or went bust; do yourself a favor and ignore whatever they say (no matter how famous they are; it's all about marketing, after all.)

Investopedia is another cute thing that you may not want to bet your life on. They have really good content but they are trying to please everyone, so they write nice things just about anything, which includes all of the idiotic mystical bullshit that happens to be popular because people love idiotic mystical bullshit.

As for this forum, it would be hard to find more immature, ignorant, and generally abysmal trading advices than here. You have been warned. In fact, this post, however introductory and simple, is still complex enough that I doubt many here will even try to understand; it's kinda sad, actually.

Learn about fat-tailed probability distributions: the difference between a left tail and a right tail, why that matters, and how they are related to the two two fundamentally opposing approaches: trend following and mean reversion.

• left tail, mean reversion, buy low/sell high: your upside is limited, your downside is unlimited, so you'll win small amounts quite often, but you'll lose a lot every once in awhile; the challenge is to compound fast enough to recover from the last bust
• right tail, trend following / momentum trading, buy high/sell higher: your downside is limited, your upside is unlimited, so you'll slowly bleed, then you'll win a lot; the challenge is to not bleed out before the next big win

Any actual strategy is probably a mix of those two; read Laurent Bernut's post from Quora, because he explains it really well, and his "Common Sense Ratio" ties up the two sides very nicely: it has two components, one which measures the mean reversion ("Gain to Pain Ratio") and one that measures the trend following ("Tail Ratio") component of a given strategy.

Interestingly, a Quantopian study (here's a summary) mentions the Tail Ratio as the most dependable predictor of out-of-sample results for the numerous strategies they verified from their community. This also suggests that trend following is a more robust approach than mean reversion.

As for mean reversion, one sure way to lose a lot of money is "doubling down" on your losses, hoping the price will turn around. Let me break the bad news: if the price is crashing, there's usually a reason for it, and the best thing you can do is to get out of that market ASAP to cut your losses. Stop losses, set before you need them (which means, set before you enter), can help you with that. That is, if you don't override them (which you shouldn't, ever.)

Forget about "predicting" the price (and don't believe anybody who says they can; they are charlatans, each and every one of them). Embrace the uncertainty of the market (which is the only way to stay out of excessive risk), and learn to think in terms of probabilities instead of absolutes. You can never be certain about winning, but you can learn to recognize the moments when you have a slight edge. The smaller your edge, the less of your capital you can risk on it; check out the Kelly criterion, though it's not always directly applicable (it works with a normal distribution, but the markets are far from the Gaussian, so it's better to stick with "fractional Kelly.")

Trading isn't "art." We all know artists can't explain why they do what they do, why it works and why it isn't, they go hungry more often than not, and they can't handle money even if it's poured down on them. It's not supposed to be fun, either. Trading for a good trader is like sex is for a good prostitute: business.

Chart patterns: some (like the above mentioned higher highs / higher lows) are obviously good, but the most are just fancy bullshit. "Heavenly Cloud Cover" my ass; excuse my French. Fibonacci everything (retractions, fans, arcs, whatnot), Gann theory, Elliott waves: mystical bullshit without exception, with zero edge.

Many have started out with testing whatever was possible to test (how would you formally define a particular "wave"? ... exactly!) to see if they work, you know, just in case, but: nope. Feel free to waste your time and money on them, but you have been warned.

Forget about magical indicators or looking for the "perfect" entry, and focus instead on what's really important: position sizing, risk management, money management. Exits matter: that's where everything is decided; therefore, never trade without stop losses.

Do check out Laurent Bernut's stuff. I can't emphasize this enough: they are probably the best intro to the most important aspects of trading. He was the dedicated short-seller for Fidelity ("the" Fidelity) for the Japanese stock market (the longest bear market in recorded history) for 8 years; if that doesn't convince you about him, nothing will. Links:

• Alpha Secure Capital
• Laurent Bernut on Quora
• Laurent Bernut on Better System Trader podcast
• Laurent Bernut on Better System Trader podcast, again

You may also want to check out Ed Thorp, Andreas Clenow (http://followingthetrend.com/; he hates bitcoin, btw), Ernie Chan. But I'm sure you'll find many others who are worth to listen to.

Stick with simple signals: complex is unreliable, simple is robust. Here's a simple one for starters: higher highs and higher lows suggest the price has a higher chance to keep going up, and lower lows and lower highs suggest the opposite. So, start with simple and obvious stuff like that, then mold it into a useable system that you can verify.

You need a system. That is, if you don't want to lose all your money. Don't buy strategies; those are scams. Learn enough about trading so you can build your own strategy (yes, it will take time.) Learn how you can test it (google "walk forward testing", and let me again remind you of the Tail Ratio and the Common Sense Ratio), and if it's working, verify it for some time while only paper trading it (i.e. you pretend you're trading, and log the imaginary results), and only if it's still working should you start trading.

It's a long road: trading is not for the impatient; losing is.

As for a site with a large variety of altcoins, Poloniex is not too bad. However, if you want to trade for a living on the long run, you may want to check out larger markets. Crypto is tiny, so the capacity of any strategy will be pretty limited. As comparison, the daily FOREX volume is several hundred times as much as the crypto market cap, and there are over a hundred individuals around the world with a higher net worth than all crypto combined. This may change, eventually, but we're far from it yet.

- Newbie very easily influenced by the words and the surroundings
- Patience is a qualities needed for newbie
- Please read the chart, drawn experience and strategies when trading

Before you start trading you need a lot of understanding of the market which was nice, and then be smart to find a gap in its order to minimize the losses that will occur.

I experienced before I bought a altcoin who name is cionz in c-cex  the price is very cheap so I decided to buy it I think 0.1+ btc. But after 1week I see the price has no value or 0 . im very sad of that day so I'm be careful now before I buy a coin because we  have tendency your coin that you buy become dead. Make a research about want coin you buy if they have potential or not. I love also bitsane I like project will that dev made . I also invest bitsane.

There is no minimum to start but i suggest start with 0.1 btc if you have a good strategies.you can make profit with that amount. About the exchange sites go for c-cex it's mobile friedly and easy to use.

Trading bitcoin and fiat is the best for newbie because both were unlike altcoin that could be dead, of course not all of altcoin will be dead. Bitsane is good, the user interface is not complicated.

Very good thinking for a newbie rank, I suppose you are a trader and just recently signed up.
But still he said it all right. If you think you cant risk all your money and too scared to lose then just use the number to where you will not have regrets if something bad happen.

right, important is believe yourself because we usually loss of confidence when trading
Patient is good but need to combine with campaign and invest intelligent

Be patient in trading. Like what others said, dont invest too much. Dont listen in the chatbox. The thing there is INVEST WHAT YOU CAN AFFORD TO LOSE.