Would like to start trading. Looking for tips!

Discussion in 'Getting Started' started by Arbok, Mar 13, 2018.

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  1. Arbok

    Arbok Contributor

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    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!
     
    Old Man Crypto and The CC Forums like this.
  2. The CC Forums

    Staff Member

    A lot of new crypto buyers will end up starting with Coinbase. Here’s our guide link. Note we are not an affiliate, we get no compensation for use of any links provided.

    Binance, Bittrex, Poloniex, Bitstamp, Gemini and a few others may also be helpful to you. Here’s a little bit more on those.

    If you look for alternative ways to just buy bitcoin, this article might be useful:

    Easy ways to buy bitcoin - The Cryptocurrency Forums

    Feel free to ask for advice or info anytime.
     
  3. Old Man Crypto

    Old Man Crypto Expert chainblocker

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    One step ahead
    Like he said, start slow. Go slow. Don’t buy everything all at once. Read up on how dollar cost averaging works for other investments. It works for crypto too. In general, you commit the same amount of money to buying an investment at same time each month without looking st the price. If prices are lower then you get more for the same amount of money and when prices rise you benefit more. Plus it’s good to invest regularly over a long period to build up your balances. But be sure to use other investments too and not just cryptos.

    Stocks, bonds, mutual funds, gold, coin collections, property etc.
     
  4. Jiten Rajput

    Jiten Rajput Contributor

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    It is a good time to start investing as the market is bearish. First download a wallet (or opt for the hardware wallet, they are safest of all!). Open an account on a trusted and popular exchange to start trading with crypto. Do check their terms and conditions whether they are favourable for you or not and whether your country is supported or not. Do not hold your possession on an exchange. Transfer it to your wallet.

    Here’s a detailed guide: Going to Invest in Bitcoin? Read this Before you Go Ahead
     
    Rose Martin and The CC Forums like this.
  5. The CC Forums

    Staff Member

    That is helpful for beginners. Thanks for the link.

    Blog links or helpful resource links are welcome in the beginners sections, as long as no commercial product or affiliate links are posted.
     
  6. Rose Martin

    Rose Martin Contributor

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    First, do lot of research about the crypto market. Read some crypto blogs and also you can get answers for crypto related queries on Quora. Later choose a best and genuine Cryptocurrency exchange for trading. Create your own wallet and start trading.
     
  7. Old Man Crypto

    Old Man Crypto Expert chainblocker

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    A year later and the first sentence hasn’t changed. The market remains bearish.

    My updated advice? Commit small amount of money to bitcoin and a couple of others each month and just hold hoping for gains in 3 years. Swinging for the fences no longer will work in crypto. Just buy a little bitcoin, ethereum, XRP and 1 or 2 others every month. And don’t use more than 10% of your investment money. Maximize your retirement fund, save for emergencies, then put a tiny amount in bitcoin.
     
    CryptoNow likes this.
  8. CryptoNow

    CryptoNow Contributor

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    It was short but complete answer for any newbie, how to trade in crypto. :)
     
    The CC Forums likes this.
  9. CryptoTC

    CryptoTC Crypto Fat Cat
    Staff Member

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    The Old Man knows his investing, crypto and other. He was talking caution before the crypto market plummet while everyone else saw nothing but the moon, his experience in other markets caused him to share warnings to new crypto investors. Those that listened and kept their crypto allocation to reasonable safe levels rode out the crash better than most.

    Investment success over the long term is all about staying long and keeping the allocations adjusted. Timing and jumping in and out won’t work. Crypto trading is just crypto guessing. Be a crypto investor, not a trader.

    Bitcoin and a few others belong in any aggressive portfolios, but take small steps, set your allocation limit (mine’s 5% or less) and stick to the long term. You’re not investing for tomorrow, you’re investing for 10 years from now.
     
    The CC Forums likes this.
  10. Creak

    Creak Contributor

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    Hey everyone. I am new here and want to trade more with cryptocurrencies now. I already bought some coins a half year ago. But because of the bearish market there are more losses than gains. Of course I will hold the coins I have, but I consider to buy new coins and trade more with them. The last month I tried virtual trading with bots. I set a trailing stop loss and sold everytime with 5% winnings. I made small earnings (only virtual), which is ok for me. Now I am thinking about trading with these bots with real money. The site, were I traded virtually with the bots is Tradingbot-Solutions. Because this is a relatively new company as I think, I wanted to ask, if anyone has experieces with this company? I find nothing bad about it in the internet, but want to be sure, before I spend my money on it. The bots and the possibilities on this platform really appeal to me. I would be happy, if anybody has experience with this and can give me an advise.
     

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