Topic: >>> Trading tips for newbi<<< (Read 1659 times)

everyone may have their own way and expertise to trade do not ever think you will always have luck,

Thank you! It helps a lot the newbies. I will go to the buy low sell high mindset. Well, actually even we think of that several times and we think that its easy to do. It won't happen, sometimes you will think that the market is dying. If you bought for 600 sats during the reversal and thinking that the market will continues, you will gonna hold it or sell  when it move down to 500 sats. Some newbies will never do the buy low sell high because of market pressure specially if you can't see when you will gonna enter.

This was first posted in 2017, so yes there are some that needs to be updated for you. For example it is quite important that you should not trade at some of the exchanges listed, they are not bad but they are not great anymore neither. For example, binance is much better than any of them right now. Also we are not at a bull run right now, I mean we are but we are not at a bull run, at least we are not at a bull run that was like the previous 2017 one, we are in a small one.

This is why I highly anticipate that bitcoin will be decent but not going to be like 2017 at all. Obviously at 2017 on November or so we weren't that high, didn't even crossed 10k at the time, then suddenly! we were around 20k so we can't really know if it will be like that but I think it would be close.

Everyone has their own way of trading and analyzing the market and sometimes the market cannot be determined solely by relying on graphics and information in the project.

You have a good list here on what newbies should follow. Pump and dump is good to avoid, though a lot of people tends to go towards it because they are looking for quick profit, but it’s not all of them that are lucky when they start investing in coins that are pumped and dumped on exchanges.

They can be unlucky and invest at a time the token has gotten to the top at that moment and is about to go down; this has not happened to me but I have seen people that have experienced it. I have seen tokens that will increase big and before I know it, some of them within one month or so, they will crash to a small price. You won’t be able to tell when the prices will be going down.

There are such some strategies and updating some site that Bitcoin waves how it moves daily you can also learn how it goes start from searching and learn the market how it moves so you can start to trade and avoid to loss.

this is a problem for beginners...
most of them are fooled by the chart on the screen of exchange without first analyzing the chart. when they see the graph changing, especially on exchanges that often fake volume, they will make bad decisions. I am not a professional trader but I prefer to trade on only 3 or 4 exchanges that have real trading volumes so I can decide what is the best [buy or sell].

Mate you have bumped a very old thread which is like 3 years old. I don't mind useful threads but I mean this thread again has some basic advice for which there are more than 50 threads already so I don't know if you un-intentionally bumped it or actually wanted to add some useful information.

I agree with most of your points though and indeed team defines a lot about the project because the team is the one who will have to work behind the project and no matter how much hype is created and what kid of ICO they hold but at the end of this all they should have the intentions of working and making the said project work.

I wonder why there are so many threads on tips for newbie but not a single thread that combines them all.

Trading on top exchanges helps making sure that what you earn and deposit is easily withdrawable but using known exchanges cannot help in profit though because it is you who has to take decisions which coins to buy and sell and when.

That is what most of us are doing and I think this although simple but is the best strategy in the market right now because the altcoins market is so bearish that you cannot expect much in terms of profit in long term and some coins don't even last months long. Altcoins trading had a golden age when ICOs first came but now with so many scam projects and fake teams, whitepapers and even fake intentions it is nearly impossible to detect them.

We should take care of choosing coins that we are going to use first because even if we have a good background on trading and has a big investment, if the coin we manage to choose is a scam it will only end up in one thing and that is failure. Bitcoin still has the highest price on all coins but we cannot say that it is the best because the performance of one coin is not stable and it takes time to have a good performance. We also need to be a good observer so that we can easily analyze the pattern that bitcoin price is showing. If you manage to analyze it then you will surely earn a lot. Last but not the least, you should learn first and if you learn about anything you can remove the letter L so that you may earn.

Sometimes there are many people who don't understand the trading market, only see a price that goes down to buy a coin but don't see the information first or for example a coin that has gone up and is in a downtrend or downtrend and then the coin will delete on the exchange and the coin is scam

I think its only happen when you buy the top rank coin .I think that this selection way of trading can increase our profit ratio .It also makes secured platform to invest .If it happen loss there, easily can get profit from other coin.So we should choose the top rank coin to trade .

Poloniex is not so good near to me(personal opinion), last year I faced a lot of problem at Poloniex exchange. after that I stoped using poloneix.
maybe they are fine now but instead of poloniex exchange, Binance is is better to mine. It has good volume, best support system, nice interface, huge coin listed and many more.at one account you can do spot trade, margin trade and future trade also. I am a regular user of binance and not yet found any critical issue with this exchange. you can also use kucoin for new altcoin trade, they list most of the new project at there exchange and volume is also good (although they got hacked a few days ago,but customer fund are safe)

The best business tips for beginners are to invest and hold on. The risk is much lower. Binance is a very good place but before that due to having a good personal trading plan and proper use you will learn money management techniques to be able to make a profit. Also analyze the market to see how many transactions you want to make in one day how much money you want to make from each trade to reach the goal of daily profit. The amount of capital you need to minimize the maximum amount of possible losses before closing the business.

if you are nwbie then right now the best trading analysis for free on here bitcointalk use it
most accurate free analysis.


https://bitcointalk.org/index.php?topic=5281795.new#new

It looks like a great thread. Solid tips for the new traders. I would like to add something about 'Forex Copier'. How much do you know about this one? In my short period of using experience I found it very informative and solid. Besides, Forex Copier has some other advantageous as well.   

+ By using Forex Copier you can easily manage multiple mt4/mt5 accounts. Besides, you can sell your signals to other traders, diversify brokers, minimize commissions etc.

+ The better advantage is that Forex Copier supports MT5 in addition to MT4.

+ Forex Coper has more than 10 years of experience on the market and there is no issues while copying signals.

+ The better news is that Forex Copier is available both for local and remote versions.

+ It is cheaper than other competitors (It sells lifetime subscription, while others - monthly/annual) and it has other promotion campaigns with huge discounts. It sells local copier for 149$ and remote copier for 349$.

To know more about Forex Copier visit https://forexcopier.com/

It's always best to buy low and sell high. Even if the profit is not that big, it's better to sell your coin than holding it for long and end up regretting because the price suddenly goes down. But sometimes losing is inevitable, so we need to stay calm and better get ready for another trading activity. One mistake will definitely leave us a lesson to be more vigilant the next time around.

This can mean being hasty in the market. As a newbie, if you try to always stay in the market maybe with another coin as the above suggest, you can end up in losing everything. So taking it easy and allow to watch how your first trade is interacting with market forces will help you not to repeat same mistake again.

External factor could make you lost with your moment, although have made good analyze and looking good chart for buying but an external factor could make bitcoin suddenly dump, did you see when Donald Trump announce positive covid 19? bitcoin price is good and have potential to higher price but after this announcement make bitcoin crash to lower price and almost altcoin allow to dump, you have check internal and external factor before buy or invest with some coin project,

In buying and selling coins, apart from paying attention to market conditions and internal and external factors, we also really need patience and strong confidence in determining the coins we buy.

You made a good initiative buddy.The most feasible one is,the new traders will buy bitcoin at very high price with their inadequate knowledge.They should train themselves to buy at very less price.In exchange,you should choose the least offer and buy at very low.So that you can get more profit from it.

We also have to choose a place for a good trade exchange so that we can quickly get profits without taking a long time, Binance exchange, Kucoin Huobi Okex and bibox I recommend for your trade and a little
My simple tip is to buy when the price drops and sell when you get a small profit. 
and next you have to stay relaxed don't panic when prices are down

Nice to see that you have gathered many suggestion .Hopefully it will help who are new in trading . My trading strategy is so simple to buy in deep and research the latest news well and do my trade .I always do trade on top coin and Top exchanges as well .

In my opinion, the most important personal factor in trading is looking at the volume of the exchange and the chart if we play trading with a fast model, we have to pay attention to the closing price of the day because we have advantages and expertise in trading respectively there are many people who want to get big profits at risk which is great but otherwise playing fast is safer. 

There are several important factors that must be answered in addition to the above tips if we want to choose coins for long trading or coin holding systems

1. INTERNAL FACTORS
Internal factors are factors that come from within the project, such as: Team and Products

2. FAKE TEAM
The Team Factor greatly influences the initial description of a project, the better the team that is in a project, the higher the trust in the community, especially the team that is part of the project is a very famous person and has undoubted experience.

3. FAKE PRODUCTS
Consumers of a product from producers, it is due to the use value that will be contacted by consumers of the goods they buy, as well as Project Products in the world of Cryptocurrency. The more useful a product that is produced by a project, the higher the level of interest of people (potential customers) to the project, which will have an impact on the community trust that I have mentioned in the "FACTOR TEAM" point.

4. EXTERNAL FACTORS
External factors are factors that come from outside the project, namely the Community

5. COMMUNITY FACTORS
If it is drawn to the most basic thing in a project in the world of Cryptocurrency, then it is not the internal factor that is the most influential, it is precisely this external factor that clearly determines it.

Yes altcoins trading is now a days known for manipulations. I'm not sure about inside people information, but people are forming a group and exchanging information for pumps and dumps. Traders who are not part of those group of getting trapped because they will not be aware of when they are going to dumps after inside people book profists from their early pumps.

Yeah, to be a reliable trading. We should be able to do an analysis of every coin you want to use or be used as materials for trading, for analysis can provide some of the views and also predictions about the future of these coins and can make us a better way of looking for the coins. Advantage indeed of things wanted by everyone, but if they only think of profit regardless of the process to be carried then it's just a nonsense and just give you a loss for them.. !!

Yes, people go for gambling just with the intention of making quick money, if we are entering into trading with the same intentions, then we will start trading in gambling way and will find the same gambling results.

I'm not finding any good way for making profit with altcoins except getting insider information. Because only people are in touch with devs are making profits in altcoin and others are facing surprises. Manipulations are easily being done with altcoin prices as their market cap and trading volumes are very less hence group of people are easily taking control of it.

1.3.4.5 is trading basic. so i not quote that.

about 2D, do u got any website can easily get the details?

about 2A, how can i find the create date of old coin?

thanks as im newbie on trade altcoin.

Well there are not many source informations about psychology trading especially on this forum and psychology trading is related with human brain, basiccally human brain is not made for investments or trading it is made for survive life in the world, my points in here related psychology trading, you must control feels greed and fears on trading activity.

thamk you for your trading tips,its very help me to learn about trading altcoin or btc.may you can give me a suggest about psychology trading?

If you are a newbie and wanted to try trading, all I can say is take it slow. How? Just try it using a small amount and see how it goes for you because you can't really learn without trying it by yourself. What I'm doing is choose a coin with an active market and do short trades there. I don't want to wait too long (imo it's safer) since the price might fall over and over instead of rise.

PS. @OP you have a good point as well

Not just in altcoin trading, even with bitcoin trading is we are aiming for earning fast, definitely we could not achieve that. First we need to understand how trading will work for us, trading will give profits time to time but definitely not on regular basis nor in quick time too. Yes, slow and steady progress along with gaining experience will be the right approach for beginners in trading.

If we look for quick profits, I am afraid then traders will not find no differences with their trading from gambling. Improper approach in trading will make your trading similar to gambling.

in my opinion the most important thing when trading as a beginner is to spend time and lots of it. the more time you spend learning trading by reading articles online or books it is better. you learn more. then you have to spend lots of time watching the market which is another important step. when you watch the changes and see how price goes up and down and how people react you gain more experience than you can hope for.

I agree, the best thing to do for a newbie before entering into the trading market is to learn more and more about it and do some researches and ask some experienced people before taking the decision of trading, but also you need to experience it on your own in order to develop your own strategy.

Buying old altcoins that have almost no proven track record is a bit like investing in penny-stocks.
You might pick one that will land you a good profit over time, if you're lucky.

But usually you have to be lucky to be able to sell it for the price you bought.
Always pick coins that have good trading volume and follow the development of said coin.

You can see on the graph, how the price of these coins have the highest price reached a peak. also, see the movement of the weekly or monthly. so that we know when buying these coins, whether has reached a peak or not. This is just what normally I do. but you are right, too, because the price is indeed difficult to guess. let alone the price of altcoin quite easily manipulated by certain people

I'm having experience of using third-party trading calls, but their success rate is just to below 50%. When one person is very good on technical analysis definitely he will not try to help you but he will try to use it for his own trading.

Same way we cannot expect those the research and analysis houses will provide you good calls for making you rich.

It is really good for newbie, Also you are doing very hard working for help the newbie. Especially in trading in the start everyone want to help to start the trade, the reason is that trading is not easy when we start it than we realize it is time taking work and need attention.

there may be less please tell a friend because I am also a beginner as well 

Good list for the beginners to take care while trading. It would be great if you can illustrate each point even in the detail so that those who have absolutely no idea about cryptocurrency trading can learn something from it. I really appreciate such efforts of building awareness about trading especially when the pump and dump schemes attracting newbies to earn quick bucks.

Thanks for your advice. As a newbie for trading it is better to study more to gain knowledge and skills on how to trade and become a good trader someday. I need to learn on how to analyse and read the map and others. Its better to do trading in altcoins as my practice trading because it will not require high starting capital and for that I can manage if I lose a small amount of my capital but the important thing is I learned to my mistake and my experienced. By the way as a newbie much better if you have a good mentor to start trading.

How to do technical analysis must be the very first step, when we are entering into trading were we need to learn. Unfortunately people are first doing trading and after facing losses they will start learning these things.

At the same time I'm not finding there would be any wrong on depending on others  prediction calls. Because there are few very good research and analysis houses, they are providing very good trading calls.

In my opinion, trading altcoins or altcoin markets are the best for newbies to try investing because it is safer than gambling and other kind of investment like hyips because in altcoin trading you are the one who in charge of managing your money and it can be easily study by a normal person if he has dedication in learning a new thing like trading. If you are a newbie and you want to test the altcoin market make sure that you will use small capital first as a learning process fee and don't be greedy like using big capital in the first few days.

Although the tips are not bad on their own, but you are suggesting altcoin trading to newbies as good way to profit.
So I gotta say this: newbie trader plus totally explosive nature of altcoin can spell disaster really fast.
If you are beginner trader with appetite to earn fast buck, diving into altcoin ocean is the worst thing you can do.

you are making a lot of mistakes in your questions and answers you are giving yourself!
for example your biggest mistake is thinking there is a difference between altcoins and think there is no difference between bitcoin and them.

you should think of bitcoin as a different world.
and all the altcoins being the same. they are being pump and dumped no matter if they are old or new or have a big or small marketcap.

all the other concepts such as original coin and having development are good but never enough for a trader to make profit.

am a newbie and i think this will help me a lot. my interest is centred much in trading but am moving cautiously since am new/

With the research of their own, they need to have many skills to became a successful trader..
1. Never be greedy, always set targets and work accordingly..
2. Never panic on market raise and fall, be cool and have hope..

That's good tips, friend. I am very agree with tips that you give and maybe it can help the newbie to understand the trade.

"A. You need to have alternative coin in trading so that your investment will not be stucked while waiting for an uptrend". For which it maybe each person will be different, I think it is not required to have altcoin because it will not affect. But if you want to try maybe it did not matter.

5A is the biggest tip of them all. If everyone is doing the same thing then the only person who profits is the exchange. You need to do your own research because if you aren't the one gaining you're the one losing.

I dont really get some of your points, especially 2A  why would you pick an old Alt,  they are usually far less volatile which in my opinion isnt great for an active trader.  picking an old Alt, is more like an investment that it might come up with a new feature and my double in size or something. 

also no 3, "do not buy at the peak if anyone knew where the peak was it would never get there. lol

They can consider that but take note that not every alt is not applicable to the idea of "hugging the FUD and negative news".

Unlike in bitcoin that we can take the FUD as good advantage to acquired coins in cheap prices, some other alts when experienced a price decreases will remain as like that for a long term and even not worth for day trading. There are already lots of regrets happened even they think that the trend will go up. That's how risky altcoin trade is compare to bitcoin trades.

well maybe  Better for trade

I think it depends on individual purposes, if you want to make huge profit you even willing to trade kind of pump & dump coin. The best suggestion for newbie is learn how the market move.  you never know exactly what is peak of a coin to sell it but you can recognize obviously a good signal to buy a coin via its specification or using technical analytics to review about it, sometime I decide to buy or not based on news.

Hello guys this is my suggestion for newbie who wants to trade, I'm not an expert but hope this would help you 

1. Find a known and good reputation exchange. Example: Poloniex at Bittrex. Why?
A. There are many exchange sites that has many pump & dump coins
B. These kind of exchange have a high standard of accepting coins
C. They have huge volume so trades are moving constantly
2. Find and search about the coin you want to buy. Example: bitcoin, ltc, eth, etc.
A. Pick old coins that still exists and active to date
B. High Market Capitalization
C. High Volume in exchange
D. Original concepts and active developers
3. Do not buy at the peak price
A. Check the daily or weekly details of its high and low trades
B. Now the saying "Buy low and Sell High" will took place
C. If possible, buy while it still have negative change status if you know the trending will go up
4. Try not to invest in one coin
A. You need to have alternative coin in trading so that your investment will not be stucked while waiting for uptrend
5. Do not be swayed easily by trolls
A. Do Your Own Research ok