Trading Advice to Newbies.

[aqua 773]

1 hour ago, Cardo said:

Great help for me I'm just starting to learn crypro trading and I need more knowledge in it before I can start, what you said can add to my list to help start in trading, I'm also finding a mentor that has experience in trading so I can fully do it when I'm ready. 

We all need to learn more lessons to be pro traders, and it is not stop learning if we want to make more money. You can learn in many ways, and I don't think that you need to find a mentor because you can do it by yourself. All you need to do is find good sources so you can start to learn more about crypto trading, and I am sure that you can learn and practice from the lesson. The next thing that you need is to practice what you learn to improve your skills because crypto trading will always change from day by day. The more we practice, the more experience that we can get, so that will help us to gain more knowledge inside the trading itself.

[cnguchi 70]

On 10/28/2019 at 8:51 PM, Collectibles said:

I see a good number of questions on trading and I decided to post some trading advice. This comes from experience in real time trading, and lessons learnt from a huge loss in my early trading days. 

First, you’ll have a good chance at being a successful Cryptocurrency trader if you start by yourself, no 3rd party, just you making the decisions. The good thing is you would learn from your experience and in the long run, you’ll be able to maximize profits. This includes going into some big time research.
 

Secondly, Start with a capital you can afford to lose. Don’t invest all your life savings, always start with an amount you can afford to lose. At the end of the day, be happy when you make profits and if you lose, you would have earned experience. 
 

Thirdly, use a reputable exchange. Research on the best exchange to use, trading fees, trading features, withdrawal options and privacy. I’ll advise you trade on exchanges like Binance, Yobit, Bitmex, BitMax and Bittrex, these are some of the exchanges I use. Transparency and Safety of your trading funds should be your watch word. When you decide on what exchange to use, next you have to master the features. There are YouTube videos on how each exchange works, you should watch them. Most exchanges do have a Demo account, you should try this just before you decide to fund your account. 
 

Fourthly, pay attention to the media. Not just that of blockchain adoption in your country but the world. Crypto related forums like Cryptotalk, Twitter and Reddit are helpful media tools.  Like they say, “Buy the Rumor, Sell the News”. 
 

Next, learn to take profits. After a few profitable trades, make a withdrawal from the exchange and store your crypto profits on a personal wallet. Don’t store your profits on an exchange. Only trading funds should be left on the exchange. 
 

I’ll do well to update this thread with more trading tips. 

It’s very important to note that there are other options to making crypto profits. One of which is Long term Holding. 
 

Don’t lose your crypto trading if you can’t manage risks, instead learn to Hold Long term. 

This is a valuable experience for everyone, I see many people take from 0.1 - 1 BTC to attend technical analysis classes, or join signal firing groups, but I find it not suitable for In this market, it is important to trade on your own to gain experience for yourself

[rmcxdy 7]

First-hand experience counts a lot. I am suggesting that one should learn from doing the actual trading and then adjusting things along the way. Just smart small so that losses can be minimized and only expand when you are already sure of your skills and abilities. Experience as they say is the best teacher but learning others is also golden. 

[starwalkerz 164]

In my opinion newbies should get acquainted with cryptocurrencies through browsing and studies. This being said, when you do dip your financial toes in the soup, you should probably start experimenting with small sums of money.

[Cryptominded 704]

On 10/28/2019 at 2:51 PM, Collectibles said:

Fourthly, pay attention to the media. Not just that of blockchain adoption in your country but the world. Crypto related forums like Cryptotalk, Twitter and Reddit are helpful media tools.  Like they say, “Buy the Rumor, Sell the News”. 
 

Next, learn to take profits. After a few profitable trades, make a withdrawal from the exchange and store your crypto profits on a personal wallet. Don’t store your profits on an exchange. Only trading funds should be left on the exchange. 

Nice write up and I only want to add:

News is what actually drives the market and crypotocurrency is no exception and any trader that ignores it does so to his peril. 

After the job is done, all work no enjoyment makes jack a frustrated guy! There is need to occasionally give oneself some treats and that will payback as renewed strength and determination to go get more done.

[Lucifer 134]

2 hours ago, frucaspres said:

Ехасtly, yоu саn lеаrn from аnоthеr оnе nоt tо fоllоw thеir purсhаsing аnd sеlling indiсators, it is vеry dangеrоus tо dо it, thеrе'll аlwаys bе pеople who donаtе аdvice on progressing аnd it's miles thе еxtraоrdinarily pleasаnt but оbsеrving the fоreign signаls will makе yоu lоse insidе thе lоng run.

That's why paying to enter a group of buy and sell signals will only suck all your money, even listening to people on twitter or other networks is bad enough for your money. It is better to become dependent and learn to trade.

[dhemasm 219]

2 hours ago, herrcomko said:

Ехсhanging соuld bе а vеry risky and trоublеsоmе mоvеment tо dо, you will  lоse all оf yоur саsh inside thе mоst eхcееdingly bаd сonсeivable manner, it is wаy bеttеr tо tо stаrt with teасh yоursеlf аnd regulаrly dо ехсhаngеs.

Well said, without experience and knowledge before on trading, it's would become a nightmare especially for newbie. Crypto marke was very violatile and i'ts really be nice to try learn it first and practice like trying some demo account.

[Lucifer 134]

Experts will always tell you that they win all the trades they do, some hide their losses but the truth is that everyone loses money, so someone new would say that both things happen here and you should get used to it while reducing losses and maximize your earnings.

[Rifrach 207]

many beginners lose a lot of money in a short amount of time, usually because of a misstep. Many beginner traders who just fad and try, they usually jump into the market without being equipped with basic knowledge about trading. My advice, do product research.

[cnguchi 70]

13 hours ago, Simeon4real said:

Seconded. I have the same opinion as you. You just said what was on my mind. At first glance, chasing pump and signal groups seems like the best option especially if one is still a newbie to trade. But a wise man once said that the best way to get something done, is to do it yourself. I used to be a big fan of signal groups when I realized that I would be better off making those trades and learning from my mistakes and continously improve. That's better than spending $1k to $2K in a signal group. Believe it or not. Not all that glitters is actually gold. To the public, these groups would always post good stuffs but when you joined the 'private' channel, it becomes a different story. 

 

 

Yeah true. when it comes to a certain season all the coins increase in price and the signaling groups are active on telegram, facebook to entice new people, I think the owners of those channels if they are really good What is the fee for newbies' fees?

[bestprofi 372]

14 hours ago, Rifrach said:

many beginners lose a lot of money in a short amount of time, usually because of a misstep. Many beginner traders who just fad and try, they usually jump into the market without being equipped with basic knowledge about trading. My advice, do product research.

Cryptocurrency trading is not easy and requires a lot of information and knowledge. It's even harder than the stock market. It is interesting that no one is thinking about accessing the stock market, but they are all experts in cryptocurrencies.

[Nicecrypto 543]

2 minutes ago, bestprofi said:

Cryptocurrency trading is not easy and requires a lot of information and knowledge. It's even harder than the stock market. It is interesting that no one is thinking about accessing the stock market, but they are all experts in cryptocurrencies.

Agreed with you and I think just because most people say there is more profits in trading does not mean everyone should jump at it without doing the needful. If anyone intends to invest in crypto and have found a nice project, they can buy and HODL while you monitor the market and learn trading as well instead of jumping into trading and lossing money.

[jcarlo 206]

2 hours ago, jairday54331 said:

You being a newbie doesn't make you less knowledgeable in trading. But before you start trading, be equipped with the necessary skills required to be a professional trader. The more you trade, the more you learn because practice make perfect. But as a newbie, do not start trading with big money so that you can manage and bear the little losses.

Agree, besides preparing technical analysis and strategies that suit us, preparing a good mentality is one good way of trading. With a calm psychological mentality, we will not be easily swept away and not easily panic when market movements are against our transactions

[Collectibles 177]

1 hour ago, ethereum said:

Do not trade. I'm afraid trading is not for newbies unless you want to lose your money. trading cryptocurrency is for the professionals and experienced traders, the cryptocurrency market is very volatile thus you need to have some experience which you'll get only through learning. As a newbie, you need to go and learn about crypto trading first.  

Put some work in first. It takes lots of dedication, that’s why most newbies don’t trade. 
There is another option to trading. And that is Holding on long term. When you hold long term, you are definitely going to make profits only if you hold the right coin. 
Holding BTC ETH LTC for long term has been profiting for people over the time. 

[scorpiali 5626]

Thanks for those advise.when i was a begginer in Crypto i would like to have some one like you advice me 

Thaks again

[Cryptominded 704]

47 minutes ago, camren653489 said:

I will share one working strategy . I trade altcoins with low value in BTC ( up to 100 satochi). The difference between buying and selling is 2-15%. It is higher than other coins. On different exchanges, different glasses and often small exchanges react more slowly to price changes, this is good for arbitrage and allows you to make a purchase and sale faster.

That is true, small exchanges are not quick to respond to changes in price and that is good for arbitrage trading. Can you share some exchanges you have successfully carried that on.  The pricing on Yobit seems to be higher than at most other exchanges and would have provided some arbitrage opportunities, but looks like they want to frustrate that by the high withdrawal fees they charge.

[Collectibles 177]

Just now, deron8992 said:

Everyone is starting to be newbie. In order to trade smoothly and with less losses, I think you should trade with a demo account to practice and get acquainted. I suggest using the money you can afford to take as a lesson from your own experience, learning from experienced investors or other resources like books, the internet, .. In addition to becoming a professional investor you also need to keep your emotions stable, patient and monitor the trading market regularly. Good luck

The last sentence is important. Most people think it’s just luck. But Nah, it’s more than just luck. When there’s a loss, you should learn not to make same mistakes again and same goes with profits. 
Learn to capitalize on your best trading skills. Practice and master those skills before moving on to another. 

[sturec 0]

trend is always your friend, do not hope to win, do aim to win. 

trading is a real profession which should be considered seriously. Last but not least, most of the twitter influencers are really bad traders

[Cryptominded 704]

1 hour ago, Collectibles said:

The last sentence is important. Most people think it’s just luck. But Nah, it’s more than just luck. When there’s a loss, you should learn not to make same mistakes again and same goes with profits. 
Learn to capitalize on your best trading skills. Practice and master those skills before moving on to another. 

Luck ends with gambling, in trading you don't rely on luck, that is why a trader is not a gambler. Traders are known to create their own luck and because they do so out of the knowledge, skills and experience they have acquired, they can replicate it  over and over again.

[bestprofi 372]

On 11/5/2019 at 3:36 PM, Nicecrypto said:

Agreed with you and I think just because most people say there is more profits in trading does not mean everyone should jump at it without doing the needful. If anyone intends to invest in crypto and have found a nice project, they can buy and HODL while you monitor the market and learn trading as well instead of jumping into trading and lossing money.

Right! A good project can make a nice profit if you hold the coin for long-term. If you buy the currency at the beginning of the project, you have every chance to make a good profit in a few years

[Wrath 149]

Trading advice to newbies, trade with caution don't follow any trend that you can't understand, knowledge is key to succeed on the cryptocurrency market, always avoids being greedy.

[flomopeter 135]

A good trading advice for you is this don't follow project that are not popular or in the spot light, choosing these project require great knowledge, so you will stay with project that are already successful while you gain knowledge.

A good trading advice for you is this don't follow project that are not popular or in the spot light, choosing these project require great knowledge, so you will stay with project that are already successful while you gain knowledge.

[Congli18 154]

Trading advice for beginners, you should learn the basics first so that you don't experience too much loss, if you don't learn them, you can lose so much.

[Keith700 1885]

On 10/28/2019 at 9:51 AM, Collectibles said:

I see a good number of questions on trading and I decided to post some trading advice. This comes from experience in real time trading, and lessons learnt from a huge loss in my early trading days. 

First, you’ll have a good chance at being a successful Cryptocurrency trader if you start by yourself, no 3rd party, just you making the decisions. The good thing is you would learn from your experience and in the long run, you’ll be able to maximize profits. This includes going into some big time research.
 

Secondly, Start with a capital you can afford to lose. Don’t invest all your life savings, always start with an amount you can afford to lose. At the end of the day, be happy when you make profits and if you lose, you would have earned experience. 
 

Thirdly, use a reputable exchange. Research on the best exchange to use, trading fees, trading features, withdrawal options and privacy. I’ll advise you trade on exchanges like Binance, Yobit, Bitmex, BitMax and Bittrex, these are some of the exchanges I use. Transparency and Safety of your trading funds should be your watch word. When you decide on what exchange to use, next you have to master the features. There are YouTube videos on how each exchange works, you should watch them. Most exchanges do have a Demo account, you should try this just before you decide to fund your account. 
 

Fourthly, pay attention to the media. Not just that of blockchain adoption in your country but the world. Crypto related forums like Cryptotalk, Twitter and Reddit are helpful media tools.  Like they say, “Buy the Rumor, Sell the News”. 
 

Next, learn to take profits. After a few profitable trades, make a withdrawal from the exchange and store your crypto profits on a personal wallet. Don’t store your profits on an exchange. Only trading funds should be left on the exchange. 
 

I’ll do well to update this thread with more trading tips. 

It’s very important to note that there are other options to making crypto profits. One of which is Long term Holding. 
 

Don’t lose your crypto trading if you can’t manage risks, instead learn to Hold Long term. 

Excellent topic, my respects.
I have put many articles on how to implement the best trading, what you say is more superficial.
It is known that everything is a learning so everything starts with oneself, practicing in demo, improvising and learning from those mistakes, taking necessary classes and especially knowing how to operate your psychology so that the market does not operate your portfolio to zero, beyond Profits must be a goal of profit itself and limit losses as much as possible, away from trading after large profits or large losses is the best thing a trader can do.

[raghovsing 3]

On 10/28/2019 at 8:44 PM, CryingCrypt said:

From me i think you should take more patient because it takes a lot of time before you earn the value that you want too. 

You are right mate that patience is one of the most important part of crypto trading. Crypto trading is not profitable for impatient people.