Topic: Would like to start trading. Looking for tips!!!! (Read 20019 times)
Always be patient, don't start to panic, draw up your own trading plan. Before you enter trading you should have proper knowledge in this sphere. Otherwise you ' ll lose all your money. Do market research, watch some educational stuff. Btw, "Trading Academy"by Monfex is really useful thing. You should definitely check it out if you want to build successful trading plan. For traders that are just starting out, its recommended to determine your risk percentage, based on account balance, beforehand, and then stick to it.
Just find a wealth management platform that suits your needs..
Stop shilling your own project here. Nobody is interested in buying them and you are making yourself look like fuckboi with no job to do by posting in every thread.Exactly, we need to be very careful in choosing, we need to study very well about the market and their situations. So trading with small amounts is always good to watch because initial stages we cannot justify them whether they are potential or not.
Initial movement are not always indicative of long term movement. But this a vague statement. If you see a coin going up you can sell your stock and cash it out. Then wait for it go down again. It will obviously go down even if it is going up now. If you have been watching this coin for the last few years then you would know which are the support and resistance points. Thats where your decision making skills come into play. They need not be accurate but they will help.
I would suggest you to first get proper knowledge about Cryptos, as once you do that you will be able to start with any exchange or broker easily. And in order to get best Crypto Knowledge, I suggest you several places like Cryptolinks, YouTube and even this forum on beginners section. Once you learn it accurately, I don’t think it will be a big deal to start, as you will be able to do it relatively accurately and easily.
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These are some of the guidelines which you need to remember when start trading. I hope the above information is helpful. Happy trading!
The choice of cryptocurrencies means much. You need to find out which altcoins can go up in the future (at least if they have this possibility), and pick them. Do not stop to learn about trading, and trade first using small sums of money.
Exactly, we need to be very careful in choosing, we need to study very well about the market and their situations. So trading with small amounts is always good to watch because initial stages we cannot justify them whether they are potential or not.
The way I see learning to trade is like investing in a business, education and career all at the same time. The majority of people invest in those things to better themselves and do not see it as a loss. You should not see your initial loss in trading as losses rather see it as education, investing in yourself and a potential future career or investment.
I believe in jumping in the deep end tbh.
I would say start by educating yourself about trading, charting, strategies and various indicators people use as well as margin trading. (youtube and the internet has everything you need to learn for free imo)
Sign up to 2/3 reputable exchanges and deposit small amounts of money only!! (as your learning to trade balance), one of these exchanges should allow margin trading.
Set yourself a ROI on your acccount balance of between 10% growth for the first year. You will need to work out daily/weekly/monthly targets to achieve your goal. You will need to understand trading risk to reward, position sizing, and have knowledge of stop loss placement and strategy.
If you can achieve 10% in the first year that will be a great achievement and you will be one of the winning 5%
I believe in jumping in the deep end tbh.
I would say start by educating yourself about trading, charting, strategies and various indicators people use as well as margin trading. (youtube and the internet has everything you need to learn for free imo)
Sign up to 2/3 reputable exchanges and deposit small amounts of money only!! (as your learning to trade balance), one of these exchanges should allow margin trading.
Set yourself a ROI on your acccount balance of between 10% growth for the first year. You will need to work out daily/weekly/monthly targets to achieve your goal. You will need to understand trading risk to reward, position sizing, and have knowledge of stop loss placement and strategy.
If you can achieve 10% in the first year that will be a great achievement and you will be one of the winning 5%
Quote
These are some of the guidelines which you need to remember when start trading. I hope the above information is helpful. Happy trading!
The choice of cryptocurrencies means much. You need to find out which altcoins can go up in the future (at least if they have this possibility), and pick them. Do not stop to learn about trading, and trade first using small sums of money.
The best and most effective tip you can get is to work on your trading capabilities try and develop yourself. Know the basics chart reading and interpretation. This will help you make good decisions while trading
Just find a wealth management platform that suits your needs.. I'm talking about smth similar to mpcx
I advise you to decide first of all what you need to trade in the market of digital assets, if you just play around, you can try different strategies, if you seriously take this matter, you need to allocate part of your available capital, study well cryptocurrency, their change over time and prospects
in essence that when we experience failure we must continue to try. Basically trading requires analytical skills and experience. it can be learned so we must keep trying. never give up, exactly what you say that in the trading world we need various strategies in dealing with various conditions that occur.
Many people go into trading without prior knowledge and basic dos and don't of trading. For you to enjoy trade and make good money from it you should not do the following :
. Considering cryptocurrencies trading as a solution to your financial problems.
. To blindly trusting Twitter calls, Telegram signals, YouTube shills, etc.
. Halting the learning process.
. Falling in love with your bags.
. Becoming arrogant and overconfident.
. Considering cryptocurrencies trading as a solution to your financial problems.
. To blindly trusting Twitter calls, Telegram signals, YouTube shills, etc.
. Halting the learning process.
. Falling in love with your bags.
. Becoming arrogant and overconfident.
I advise you to decide first of all what you need to trade in the market of digital assets, if you just play around, you can try different strategies, if you seriously take this matter, you need to allocate part of your available capital, study well cryptocurrency, their change over time and prospects
Hello everyone!
I am relatively new to the crypto, but I am willing to explore and learn!
I would like to ask for some general advices on how to learn the trading process of crypto and how to get started! Would appreciate all the replies!
I am relatively new to the crypto, but I am willing to explore and learn!
I would like to ask for some general advices on how to learn the trading process of crypto and how to get started! Would appreciate all the replies!
It is really hard to begin with trading, even you want to earn quickly on trading, you must not push yourself in a hurry. It is rather good to start with learning as a newbie. So, I suggest you check this link and read and watch the video https://www.youtube.com/watch?v=HLYuxoytR3s&t=29s good luck.
Research is a necessary part of preparing to trade. You will need to do extensive research on several issues: what kind of asset is digital money and its main features, potential cryptocurrencies for trading and scam projects to avoid, reputable and secure trading platform, fundamental and technical analysis, etc. As you see, the list is rather large so you have to invest your time first to have more chances on successful trading.
The main challenge is to select the best coins and the most suitable platform for trading. With the first task, the list of the largest cryptocurrencies by the market capitalization can help. Because they are considered the safest and the most reliable coins for both investment and trading. When choosing the best crypto exchange, pay attention to the security level, trading fees, customer support, the number of the crypto pairs, and the availability of the wallet or mobile app. For me, these factors are crucial therefore, I use CEX: https://cex.io/xrp-eur. Also, it benefits me because enables trading both crypto to crypto and fiat to crypto.
The main challenge is to select the best coins and the most suitable platform for trading. With the first task, the list of the largest cryptocurrencies by the market capitalization can help. Because they are considered the safest and the most reliable coins for both investment and trading. When choosing the best crypto exchange, pay attention to the security level, trading fees, customer support, the number of the crypto pairs, and the availability of the wallet or mobile app. For me, these factors are crucial therefore, I use CEX: https://cex.io/xrp-eur. Also, it benefits me because enables trading both crypto to crypto and fiat to crypto.
The best advice in trading is to get rid of the excitement, correctly distribute the Deposit into several parts, use those exchanges that have mobile applications with notifications of growth or price reduction, then it will be only a pleasure)
I agree with getting rid of the excitement part but I am not sure what you mean about mobile applications available exchanges. Yes many exchanges have apps for smartphones but does that make any difference. I mean does the platform of use matter so much as to influence your trading on a general basis?About notifications regarding price rise and drops, you have use your own judgement here. If some less known coin suddenly pumps to 400% gains while bitcoin is being bearish, then its not the good coin to buy into because its a fake pump which is going to crash or has already crashed and you are seeing the metric of a hours back.
With mobile app you can log in from everywhere in anytime. You can monitor your coin every 5 minutes and you can spot any
changes faster.
Getting rid of all emotions is good when dealing with money. Excitement or panic can make a person do something that isn`t
smart. Trading should be practiced a lot and with time, money and nerves some people learn something and become better,
others find out that trading isn`t for them.
The best advice in trading is to get rid of the excitement, correctly distribute the Deposit into several parts, use those exchanges that have mobile applications with notifications of growth or price reduction, then it will be only a pleasure)
I agree with getting rid of the excitement part but I am not sure what you mean about mobile applications available exchanges. Yes many exchanges have apps for smartphones but does that make any difference. I mean does the platform of use matter so much as to influence your trading on a general basis?About notifications regarding price rise and drops, you have use your own judgement here. If some less known coin suddenly pumps to 400% gains while bitcoin is being bearish, then its not the good coin to buy into because its a fake pump which is going to crash or has already crashed and you are seeing the metric of a hours back.
It’s very good decision that you are willing to start trading but don't forget that trading is very risky and you need to invest that money which you can afford to lose. I will suggest you to keep your patience in every good or bad situation don't lose your emotions while trading. That's it if you can maintain this all then I'm sure you will get success.
Actually the trick to running crypto is easy, it's just that we have to be careful. When we buy coins we must be able to analyze the graph. And as much as possible you buy prices below the market.
After that, when you sell, you can install at market prices. But don't get too far from the market. Because it will be difficult to get that price. Just a 10% profit is pretty good.
After that, when you sell, you can install at market prices. But don't get too far from the market. Because it will be difficult to get that price. Just a 10% profit is pretty good.
Good to know that you willing to start trading. The tips first capital must use only as your extra don't use your savings money.
Just look for the trading site who really trusted and that is Binance and for sure more people use it so you can start there if you want.
Just keep reading to trading and watch videos about it and for sure you will learn goodluck happy trading!
Just look for the trading site who really trusted and that is Binance and for sure more people use it so you can start there if you want.
Just keep reading to trading and watch videos about it and for sure you will learn goodluck happy trading!
The best advice in trading is to get rid of the excitement, correctly distribute the Deposit into several parts, use those exchanges that have mobile applications with notifications of growth or price reduction, then it will be only a pleasure)
I believe crypto market already in the bottomed after dumped hard, so buy and hold now for afew month is great idea to make alot of profit but this my prediction is not guarantee to be accurate , so we should be also have risk management by use stop loss after bought any crypto.
I also suggest him to buy coins because it is down fall in market, so for newly traders have a good chance to buy coins, but don't buy coins without knowledge and speculations, see the history of coins and then start to buy them. In trading without risk we cant earn, so being a trader we should take risk.
Trust your choice and invest big but choose wisely.
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