Which trading strategy would be a good start for new traders? - page 2.

gabbie2010

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Quote from: Crypto Library on January 01, 2022, 12:53:53 AM

I'm in beginner stage at trading . Recently I loose about 80$ . It is a huge amount for me . But I wanna try again
Now I need some advice for me . I also have some questions about trading.

1.My 1st question is about which trading strategy is good for a new traders ? I mean short term or long term.

2. In short-term trading, when to buy and when to sell ?

3. In short-term trading, do I need to sell the coin on the day ?

I hope these questions answer and advise could help me to know some good things about trading and helping to choose the right trading strategy at this stage and others like me.

You should go with short term trading, I am not referring to scalping form of trading but strategy that you will enable you to trade using a minimum of 4 hour time frame , you can try some YouTube trading channels and pick one of the numerous strategies, work on it practice with demo when consistent in profit making, go live again however you should learn how to take your profits swiftly due to high volatility in the price of cryptocurrencies else a profiting live trade can reverse and end in a loss and always deploy stop loss in all your trades to minimize your risk.

blockman

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Quote from: Crypto Library on January 01, 2022, 12:53:53 AM

I'm in beginner stage at trading . Recently I loose about 80$ . It is a huge amount for me . But I wanna try again
Now I need some advice for me . I also have some questions about trading.

1.My 1st question is about which trading strategy is good for a new traders ? I mean short term or long term.

2. In short-term trading, when to buy and when to sell ?

3. In short-term trading, do I need to sell the coin on the day ?

I hope these questions answer and advise could help me to know some good things about trading and helping to choose the right trading strategy at this stage and others like me.

1. I'm a long term so I'll say that long term is really good and effective for me and try it, maybe you're for the long term.
2. This is a question that only you can see how it's being done. You'll get similar answers like buying during the dip and selling at the peak and when you're in profit.
3. You have to sell when you're in profit and you have to set a target.

Wexnident

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1. Either would work, it's really up to what you are able to do and what best fits your time, and what mostly works for you. I'd suggest short term if you have a lot of free time to study the market, and long term if you don't.
2. Again, that's up to you, though the simple strategy would be to buy low sell high.
3. No, not really, it can span to a week or a month if that's what you want. There's really no strict "requirement" when your trading and you want to call it short-term trading

Most of your questions OP are pretty much subjective in answers, there's really no best set of answers other than what you believe in. I'd suggest just trying stuff around for a few months, then try to determine what best fits in your current lifestyle.

michellee

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Quote from: Crypto Library on January 01, 2022, 12:53:53 AM

I'm in beginner stage at trading . Recently I loose about 80$ . It is a huge amount for me . But I wanna try again
Now I need some advice for me . I also have some questions about trading.

1.My 1st question is about which trading strategy is good for a new traders ? I mean short term or long term.

2. In short-term trading, when to buy and when to sell ?

3. In short-term trading, do I need to sell the coin on the day ?

I hope these questions answer and advise could help me to know some good things about trading and helping to choose the right trading strategy at this stage and others like me.

1. Medium-term strategy will fit you but I will not say that is good or best because that will depend on your experience and skills. For example, you buy at a low price and sell at a high price. But in this situation, you can not expect to sell in the next hour because sometimes, you need to wait for a day or some time.

2. Same answer as number one. As long as you can buy at a low price and sell at a high price, you are good.

3. In the short term, you can buy and sell the coin hourly or daily, depending on the market movements. If the market movement is good, you do not have to wait long to sell the coin.

4. The most important thing that every trader must know is that they must control their greed. You do not have to expect to make a big profit in a day, but feeling satisfied with your profit will be necessary to prevent you from chasing your greediness.

palle11

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Quote from: Crypto Library on January 01, 2022, 12:53:53 AM

3. In short-term trading, do I need to sell the coin on the day ?
[/b]

It depends on you. Short term itself does not mean you have to sell a coin in a day. If you are in profit already and you assume that price is still in your favour and you want to maximize it then you can allow it to roll out more profit but you have to safeguard the already made profit by making adjustment of your take profit and shift it to the entry price. By this strategy, your are sure that you have secured yourself from any lose on that particular coin trading as short term.

GreatArkansas

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New traders of course must start from the basic or core of trading.
Support & resistance, if you are a newbie you must understand first this one of the basics.

And another thing that most the newbies ignored or don't really practice is risk management, this will help you to preserve your capital, minimizing your losses and maximizing profits, this is involve how to properly use your trading size, stop losses and take profits.

Taskford

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A good subreddit to start from in your trading journey since most of your question are already answered on their wiki and the only thing that you need is time and dedication to read them like a bible.

[1] https://reddit.com/r/RealDayTrading/w/index?utm_source=share&utm_medium=android_app

Quote from: Crypto Library on January 01, 2022, 12:53:53 AM

3. In short-term trading, do I need to sell the coin on the day ?

That depends on your trading strategy, some people prefer daytrading, swing trading, or scalping where each of them have different duration in terms of holding their position in an exchange.

But technically, crypto market does not sleep so holding your position for a long period of time doesn't matter.

martina14

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Quote from: Crypto Library on January 01, 2022, 12:53:53 AM

I'm in beginner stage at trading . Recently I loose about 80$ . It is a huge amount for me . But I wanna try again
Now I need some advice for me . I also have some questions about trading.

1.My 1st question is about which trading strategy is good for a new traders ? I mean short term or long term.

2. In short-term trading, when to buy and when to sell ?

3. In short-term trading, do I need to sell the coin on the day ?

I hope these questions answer and advise could help me to know some good things about trading and helping to choose the right trading strategy at this stage and others like me.

Of course, as a newbie here in this industry dude, while you are in the stage of learning in the crypto space better to to put yourself here in the long term, because if you choose into a short term trading losing your coins probably may happen to you most of the time 100%, and that we want to avoid it as a newbie.

mk4

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1. The best would be the one that you've tried and ended up with better amounts of success compared to other strategies.

2. ..it depends on your strategy

3. "Short-term" can span from mere minutes to a span of days

hugeblack

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There are strategies that are safer than others with reasonable profit and since you are a beginner it is better to learn the easy strategies and by developing yourself a little you will be able to make all the difficult strategies easy.

Before you start learning to trade, you should know the basics, such as how to create a wallet, protect your private key, reduce fees when sending, CEX & DEX platforms and the best suitable platform based on your country and payment method.

I recommend you to watch @aantonop YouTube channel^[1] to learn the technical aspects, and then you can ask here about the best platform for you.

Now let's talk about the trading side:

- Dollar-Cost Averaging (DCA)^[2]: It's perfect and simple, set a specific day and then buy a fixed amount of bitcoin.
- DCA with support and resistance points: it is a little more difficult and instead of setting a fixed time, you rely on the support and resistance points^[3].
- Buying at once: It depends on the price collapse by more than 20%.
- Day trading: It is the most dangerous way and the difference between the prices of cryptocurrencies during the day.
- Leverage and Margin, DeFi and Low MarketCap cryptos: Not recommended.

[1] https://www.youtube.com/user/aantonop
[2] https://www.investopedia.com/terms/d/dollarcostaveraging
[3] in short, when the price drops by more than 15%, you buy more

Oshosondy

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Gamble responsibly

Sorry for the loss, but traders are likely to still lose more, use the amount you can afford to lose to trade. Use small amount for many months and see the outcome. Experience all types of trading and later choose the one best for you.

Long term is better short term is far riskier.

In short term, it is still good to buy when the price of the coin taken have reduced and sell when price have already increased. Know that this does not mean you will gain in short term but this might help in making some profit, but the profit is not guaranteed until you have enough experience which can reduce loss if compared to profit.

The best trading are swing and holding which bus not categorised into trading.

Short term trading can be within few weeks or less than a day. You mean day trading, okay it should not be more than days but there are times it might be more than but still within short time.

I remembered when I was in your shoe, but I lose more. Be very careful and use the amount of money you can afford to lose to trade, later the outcome will determine if you will increase your trading capital.

el kaka22

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Quote from: Crypto Library on January 01, 2022, 12:53:53 AM

I'm in beginner stage at trading . Recently I loose about 80$ . It is a huge amount for me . But I wanna try again
Now I need some advice for me .

You sound like you are getting ready to lose again.

With the experiences of following many beginners here, I like to suggest you NOT to go back to trading again.
Trading may be possible for you only after months long preparation.

One simple strategy to recover your losses and to make profits:
With the capital that you have planned trading, buy bitcoin only for 50% of your capital. Wait for 15 days and then buy again for another 50% of remaining amount. (Means if you have $100 then buy bitcoin for $50 and after 15 days buy again for another $25 and keep doing for 50% of your available capital for every 15 days and also add new funds to your capital).

If you are able to hold your nerves for next 4 to 6 months then you may get at least 2x profits and if you are able to hold for next 4 years then you can see more than 5x growth for all your money.

Think over and plan up but never try for any short term trading with any strategy.

Quote from: tranthidung on January 01, 2022, 01:40:05 AM

Short-term, you can get profit from trading
Long-term, you mostly end with loses from trading

Seems that you made a two-words long typo twice Cheesy

.

Jawhead999

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Here's the answer:
1. Depends on you.
2. Depends on you.
3. Depends on you.

There's no good or bad answer since it's really depends on the coin you bought and timing. Let's say you bought new listed coins, when the price multiply x100 in a day you'll sell it and then thought short term trading is good. While when you bought Bitcoin, the price dropped in a day but you continued to hold until 1 month. After a month the price increase +20% then you'll sell it and call long term trading is good. Don't forget you may lose in both strategy too.

tranthidung

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Farewell o_e_l_e_o

Short-term, you can get profit from trading
Long-term, you mostly end with loses from trading

If it is long-term, it is easier, more comfortable and more profitable if you do with investment. Investment is different than gambling. I meant if you intend to do long term investment, you must start with your in-depth research about projects. Then if you conclude it is good and believe in it, you can allocate your capital into it as one of your long term investment.

To be safe, just in case all things go wrong and worse than any of your expectation, don't all in!
Let's allocate a big budget for your daily expenses in about 1 or 2 years which is enough time for bear market to finish.

Imagine, you allocate all money you have at $10000, then in bear market, it is divided 10 times to $1000 and if you don't have other budget to pay daily expenses, you will have to sell part of it to use. Assume you sell $100 for such purpose, it equals to $1000 in your initial capital. That is painful!

Crypto Library

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I'm in beginner stage at trading . Recently I loose about 80$ . It is a huge amount for me . But I wanna try again
Now I need some advice for me . I also have some questions about trading.

1.My 1st question is about which trading strategy is good for a new traders ? I mean short term or long term.

2. In short-term trading, when to buy and when to sell ?

3. In short-term trading, do I need to sell the coin on the day ?

I hope these questions answer and advise could help me to know some good things about trading and helping to choose the right trading strategy at this stage and others like me.

Topic: Which trading strategy would be a good start for new traders? - page 2. (Read 218 times)