Beginner’s guide to day trading Cryptocurrencies : Bitcoin

Hold is a strategy that may be the best choice in the long run.

But the frustration of the short and medium term in the world of cryptocurrencies is something that perhaps few can withstand.

I belive that there are a lot of profitable traders in this world.

Any of them can share with us their strategies and knowledge?

Nah but really, you need to study some books. Every trader trades their own way so to share a strategy just won’t work. Learning TA is easy, finding a system that works for you and developing the mental discipline is the hard part and you only get that with practice. Do you want to day trade? Swing trade? Scalp? Position? Do you want to trade momentum? Breakouts? Reversals? There’s too many ‘strategies’ that you will only figure out by practicing.Grab a book and start studying!

Im not looking to make much money, I just want to start trading.

I love the idea but I can’t really find where to start.

I have watched some youtube videos, and I want to buy something like Nano since its only like $2, but I don’t know where to do that, or how to know when to sell/buy.

(sorry if I haven’t used the right tags, I’m completely new, if that wasn’t obvious enough)

lol, I suppose the “random people trying to throw their money into crypto” sign is as good as any that a bubble is coming.

You’re going to have to sign up to a few exchanges.

As a new and coming crypto trader, I’m looking to start trading small amounts of money (<$100) in order to just get my feet wet and learn. That being said, I'd love a service that allows me to do so for as small a fee as possible (read: as free as possible). A $5 transaction fee would be absurd when buying $50 worth of crypto, let's say. Also if anyone has any other suggestions on what apps or services would be best to use when considering portfolio management or watching prices that would be greatly appreciated!

Check out coindominancecharts.com instead of coinmarketcap.

If the price dips way out just say you are a true HODLer, if the price skyrockets sell and you are a master trader, win/win.

Aren’t you spelling Hold wrong there? If that’s a new term, please enlighten me.

Cool, do it. but do it with demo money until you have had 12 consecutive months of gains.

This isn’t a meme.

12 consecutive months.

Most will win their first couple, and then they think they have the hang of it, and will lose the next 6.

12 consecutive months, and then ask yourself if you really want to gamble with your life savings (the only way you are going to have enough margin to trade correctly, for most people) as a profession. It’s too stressful, and there is too many automated solutions that the average joe can take advantage of to make manual trading way more stressful than any ones day job should be.

Source: trading forex for 2 years.

the memes are what is keeping me from suicide lol, after losing 138k in nano :(. This help me keep smiling and going forward

Let me get this straight… You poured OVER $138K USD of YOUR OWN MONEY into NANO?

Orrrrr….

Start into trading with the book How To Make Money In Stocks: A Winning System in Good Times or Bad.

I completely agree. That said, I like to more than just hold, so I made my own index on Shrimpy. It’s easy, keeps me diversified, and indexes usually outperform managed funds.

I’m a bot, bleep, bloop. Someone has linked to this thread from another place on reddit:

[r/u_cryptokhaled] Top 10 resources that can help you learn the basics of cryptocurrency trading

 If you follow any of the above links, please respect the rules of reddit and don’t vote in the other threads. (Info / ^Contact)

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For every trade that makes a loss there is the counterparty and the exchange making a profit. So all daytraders are on average losing money.

I would classify it as similar gambling as playing poker. Also there you are on average losing money because the house takes their cut.

> For every trade that makes a loss there is the counterparty and the exchange making a profit. So all daytraders are on average losing money.

Depends on the exchange.

Coinbase offers 0% limit orders.

There are ways to mitigate expenses day-trading to the point that it comes down to whether you have the temperament and if you are backing the right horse. A profitable venture is better than zero-sum, because the investments that gain value sap resources from the investments that are duds.

Why is everything I read about day trading crypto so negative? Bitcoin seems to fluctuate 1-2% every few hours, using coinbase pro and only using limits, you get charged no fees as a market maker.

I get holding CAN being more profit, but you never know when it will crash and all that profit will vanish..

day trading you keep your risk to 1%..

I just started yesterday with 170$ in bitcoin.

I lost out a bit on profit when the price dropped out of panic, but it almost always spikes back up. I did the calculations, assuming there’s no bull market soon, if I make 3 trades a day, at 1% profit, my investment will go to 400$ worth (I dont care for waiting for a bull run, they always end and people get suprised when they dont get out in time and lose 75%..).

This investment is exponential too…

the next month itd be 1k..

till I’m making enough to live on…

I’m currently 14 working a part-time job and I saved up around ~2500 dollars to start investing in crytocurrency. After bugging my people for awhile now to get a bank account, I finally have one. I tore through market analysis’s and crypto-news in order to determine what I should invest in. So when it came time to actually put in the money and start investing, I was completely lost. There are probably 100’s of investing platforms to choose from, and while I somewhat know how to read stock charts(from just watching a simple video), I’m completely lost when it comes to actually buying and selling crypto. Something like this confuses me.

If there is a beginner friendly resource on how to start trading in the crypto market or if you have any tips for someone like me it would be greatly appreciated.

I have invested in bitcoin, and i would like to learn about trading bitcoin to hopefully maximize both my current and future investments.

Since i am completely new to the world of crypto i would appreciate it if more knowledgable people have any good resources or tips to share. Both for (hopefully) profiting from trading, and for practical tips on how to reduce fees, maximize security in a practical manner and anything else that is necessary and/or helpful in my quest to accumulate bitcoin.

It’s harsh but professional traders need people like you to exist in order to make a profit.

One of the most sobering youtube channels for beginning traders is Anton Kreil, an ex- Goldman Sachs vice.

One reply on “Beginner’s guide to day trading Cryptocurrencies : Bitcoin”

Beginner’s guide to day trading Cryptocurrencies : Bitcoin

Start into trading with the book How To Make Money In Stocks: A Winning System in Good Times or Bad.

I completely agree. That said, I like to more than just hold, so I made my own index on Shrimpy. It’s easy, keeps me diversified, and indexes usually outperform managed funds.

I’m a bot, bleep, bloop. Someone has linked to this thread from another place on reddit:

[r/u_cryptokhaled] Top 10 resources that can help you learn the basics of cryptocurrency trading

 If you follow any of the above links, please respect the rules of reddit and don’t vote in the other threads. (Info / ^Contact)

If any brigades are found in the TotesMessenger x-post list above, report it to the modmail. Thank you in advance for your help.

I am a bot, and this action was performed automatically.

I have invested in bitcoin, and i would like to learn about trading bitcoin to hopefully maximize both my current and future investments.

Since i am completely new to the world of crypto i would appreciate it if more knowledgable people have any good resources or tips to share. Both for (hopefully) profiting from trading, and for practical tips on how to reduce fees, maximize security in a practical manner and anything else that is necessary and/or helpful in my quest to accumulate bitcoin.

It’s harsh but professional traders need people like you to exist in order to make a profit.

One of the most sobering youtube channels for beginning traders is Anton Kreil, an ex- Goldman Sachs vice.

I just started cryptocurrency trading last last month and I’m currently at college. Is there any good reference materials in which I can use during my free time to read to learn? I’m currently making a program that would give me a live feed of all the the prices of all BTC symbols on Binance and using the ohlc values for technical indicators and would alarm me whenever a certain value is met.

I’d start with the r/ShrimpyApp sub and go from there. It will help you with simply balancing a portfolio.

Coinwalletinvestor is a good start for picking some decent portfolio assets.

Hi All, I’ve come across this guy who has a “Charting Cryptoland” series however it’s from 2016: https://www.youtube.com/channel/UCUDQQH8j29aeG_c-Gps22Wg

Any youtube vids, magazines, articles, sites, etc where we can learn how to make a profit trading crypto?

I found this channel quite interesting myself; it’s by a regular of this sub:

I’ve got a channel: https://www.youtube.com/channel/UCme3b9GKKSjZsI8AGth-VlA

CryptoDon has a lot of really good stuff, too: https://www.youtube.com/channel/UCkMB7Q-IkqlPpD7nrmS7tlg

Could you tell me a bit more I’ve hardly used slack.

Im not looking to make much money, I just want to start trading.

I love the idea but I can’t really find where to start.

I have watched some youtube videos, and I want to buy something like Nano since its only like $2, but I don’t know where to do that, or how to know when to sell/buy.

(sorry if I haven’t used the right tags, I’m completely new, if that wasn’t obvious enough)

lol, I suppose the “random people trying to throw their money into crypto” sign is as good as any that a bubble is coming.

You’re going to have to sign up to a few exchanges.

If the price dips way out just say you are a true HODLer, if the price skyrockets sell and you are a master trader, win/win.

Aren’t you spelling Hold wrong there? If that’s a new term, please enlighten me.

Cool, do it. but do it with demo money until you have had 12 consecutive months of gains.

This isn’t a meme.

12 consecutive months.

Most will win their first couple, and then they think they have the hang of it, and will lose the next 6.

12 consecutive months, and then ask yourself if you really want to gamble with your life savings (the only way you are going to have enough margin to trade correctly, for most people) as a profession. It’s too stressful, and there is too many automated solutions that the average joe can take advantage of to make manual trading way more stressful than any ones day job should be.

Source: trading forex for 2 years.

I previously posted a question asking about using bots and the consensus so far has been that I should learn how to trade manually first. I know how to read a candlestick chart and am familiar with the concept of support/resistance, but other than that I’m more or less a complete newcomer to technical analysis. As far as what to look for in charts and what moves to make, that’s the big question mark for me ATM. How did you guys get started? Where would you recommend I go to learn how to trade?

One thing you need to keep in mind is that prices of cryptocurrencies are heavily news-based. One nicely written Twitter message and a coin with a 500 million market cap can go double in a few hours.

always look at multiple time frames when analysing a currency. Start with the daily or four hour candles, then go lower.

I’m looking to learn more about trading Currencies and how to read TA. I’ve been doing research online but am finding it hard to find good information, and the information im finding feels very fragmented making it hard for me to grasp the concepts. Please share any recommendations you have, it would be much appreciated.

Watch Tone Vays on YouTube and check out his website as well as videos and articles by Venzen, Willy Woo, and Tyler Jenks. Tone thinks Ethereum is a shit coin which I disagree with.

I’m currently 14 working a part-time job and I saved up around ~2500 dollars to start investing in crytocurrency. After bugging my people for awhile now to get a bank account, I finally have one. I tore through market analysis’s and crypto-news in order to determine what I should invest in. So when it came time to actually put in the money and start investing, I was completely lost. There are probably 100’s of investing platforms to choose from, and while I somewhat know how to read stock charts(from just watching a simple video), I’m completely lost when it comes to actually buying and selling crypto. Something like this confuses me.

If there is a beginner friendly resource on how to start trading in the crypto market or if you have any tips for someone like me it would be greatly appreciated.

As a new and coming crypto trader, I’m looking to start trading small amounts of money (<$100) in order to just get my feet wet and learn. That being said, I'd love a service that allows me to do so for as small a fee as possible (read: as free as possible). A $5 transaction fee would be absurd when buying $50 worth of crypto, let's say. Also if anyone has any other suggestions on what apps or services would be best to use when considering portfolio management or watching prices that would be greatly appreciated!

Check out coindominancecharts.com instead of coinmarketcap.

One reply on “Beginner’s guide to day trading Cryptocurrencies : Bitcoin”

Beginner’s guide to day trading Cryptocurrencies : Bitcoin

As a new and coming crypto trader, I’m looking to start trading small amounts of money (<$100) in order to just get my feet wet and learn. That being said, I'd love a service that allows me to do so for as small a fee as possible (read: as free as possible). A $5 transaction fee would be absurd when buying $50 worth of crypto, let's say. Also if anyone has any other suggestions on what apps or services would be best to use when considering portfolio management or watching prices that would be greatly appreciated!

Check out coindominancecharts.com instead of coinmarketcap.

Hold is a strategy that may be the best choice in the long run.

But the frustration of the short and medium term in the world of cryptocurrencies is something that perhaps few can withstand.

I belive that there are a lot of profitable traders in this world.

Any of them can share with us their strategies and knowledge?

Nah but really, you need to study some books. Every trader trades their own way so to share a strategy just won’t work. Learning TA is easy, finding a system that works for you and developing the mental discipline is the hard part and you only get that with practice. Do you want to day trade? Swing trade? Scalp? Position? Do you want to trade momentum? Breakouts? Reversals? There’s too many ‘strategies’ that you will only figure out by practicing.Grab a book and start studying!

Im not looking to make much money, I just want to start trading.

I love the idea but I can’t really find where to start.

I have watched some youtube videos, and I want to buy something like Nano since its only like $2, but I don’t know where to do that, or how to know when to sell/buy.

(sorry if I haven’t used the right tags, I’m completely new, if that wasn’t obvious enough)

lol, I suppose the “random people trying to throw their money into crypto” sign is as good as any that a bubble is coming.

You’re going to have to sign up to a few exchanges.

If the price dips way out just say you are a true HODLer, if the price skyrockets sell and you are a master trader, win/win.

Aren’t you spelling Hold wrong there? If that’s a new term, please enlighten me.

Cool, do it. but do it with demo money until you have had 12 consecutive months of gains.

This isn’t a meme.

12 consecutive months.

Most will win their first couple, and then they think they have the hang of it, and will lose the next 6.

12 consecutive months, and then ask yourself if you really want to gamble with your life savings (the only way you are going to have enough margin to trade correctly, for most people) as a profession. It’s too stressful, and there is too many automated solutions that the average joe can take advantage of to make manual trading way more stressful than any ones day job should be.

Source: trading forex for 2 years.

I’m currently 14 working a part-time job and I saved up around ~2500 dollars to start investing in crytocurrency. After bugging my people for awhile now to get a bank account, I finally have one. I tore through market analysis’s and crypto-news in order to determine what I should invest in. So when it came time to actually put in the money and start investing, I was completely lost. There are probably 100’s of investing platforms to choose from, and while I somewhat know how to read stock charts(from just watching a simple video), I’m completely lost when it comes to actually buying and selling crypto. Something like this confuses me.

If there is a beginner friendly resource on how to start trading in the crypto market or if you have any tips for someone like me it would be greatly appreciated.

For every trade that makes a loss there is the counterparty and the exchange making a profit. So all daytraders are on average losing money.

I would classify it as similar gambling as playing poker. Also there you are on average losing money because the house takes their cut.

> For every trade that makes a loss there is the counterparty and the exchange making a profit. So all daytraders are on average losing money.

Depends on the exchange.

Coinbase offers 0% limit orders.

There are ways to mitigate expenses day-trading to the point that it comes down to whether you have the temperament and if you are backing the right horse. A profitable venture is better than zero-sum, because the investments that gain value sap resources from the investments that are duds.

1 – Everyone’s a genius in a bull market.

Real traders can survive and even thrive in bear markets or highly volatile markets.

2 – Don’t be a blind bull.

ALL markets are cyclical.

Don’t be afraid of pullbacks or market crashes – that’s where you can make the most money.

5 – Entries are important, but risk & money management is where you make or lose money.

6 – Beware of get-rich-quick gurus hopping on the crypto bandwagon over the past year.

7 – Decide which types of trade setups or investments you’ll take and ignore everything else.

8 – Don’t assume just because you’ve made a lot of money in crypto that you can just as easily make money in other financial markets.

95%+ of stock market traders LOSE money.

Why is everything I read about day trading crypto so negative? Bitcoin seems to fluctuate 1-2% every few hours, using coinbase pro and only using limits, you get charged no fees as a market maker.

I get holding CAN being more profit, but you never know when it will crash and all that profit will vanish..

day trading you keep your risk to 1%..

I just started yesterday with 170$ in bitcoin.

I lost out a bit on profit when the price dropped out of panic, but it almost always spikes back up. I did the calculations, assuming there’s no bull market soon, if I make 3 trades a day, at 1% profit, my investment will go to 400$ worth (I dont care for waiting for a bull run, they always end and people get suprised when they dont get out in time and lose 75%..).

This investment is exponential too…

the next month itd be 1k..

till I’m making enough to live on…

in term of transaction fee structure of the exchange like fixed fees, percentage fees and spread.

in and out fee

Been trading around a month now.

The best place to buy bitcoin in the US is coinbase.

The best way to get altcoins is buy BTC, LTC, or ETH on coinbase.

Transfer to gdax from coinbase.

Coinbase owns gdax so there is no fee.

Then transfer from Gdax to Binance (ne fee again) and make your trades for alts.

Before you get started trading look up data dash on YouTube. He has a lot of great videos on how to get started and has tutorial videos on how to read market trends. He does a daily update on the current market trends and what is causing these trends and where he thinks it’s headed. His alt coin picks have also performed ridiculously well.

This is what I did.

Start into trading with the book How To Make Money In Stocks: A Winning System in Good Times or Bad.

I completely agree. That said, I like to more than just hold, so I made my own index on Shrimpy. It’s easy, keeps me diversified, and indexes usually outperform managed funds.

I’m a bot, bleep, bloop. Someone has linked to this thread from another place on reddit:

[r/u_cryptokhaled] Top 10 resources that can help you learn the basics of cryptocurrency trading

 If you follow any of the above links, please respect the rules of reddit and don’t vote in the other threads. (Info / ^Contact)

If any brigades are found in the TotesMessenger x-post list above, report it to the modmail. Thank you in advance for your help.

I am a bot, and this action was performed automatically.

One reply on “Beginner’s guide to day trading Cryptocurrencies : Bitcoin”

Beginner’s guide to day trading Cryptocurrencies : Bitcoin

Hold is a strategy that may be the best choice in the long run.

But the frustration of the short and medium term in the world of cryptocurrencies is something that perhaps few can withstand.

I belive that there are a lot of profitable traders in this world.

Any of them can share with us their strategies and knowledge?

Nah but really, you need to study some books. Every trader trades their own way so to share a strategy just won’t work. Learning TA is easy, finding a system that works for you and developing the mental discipline is the hard part and you only get that with practice. Do you want to day trade? Swing trade? Scalp? Position? Do you want to trade momentum? Breakouts? Reversals? There’s too many ‘strategies’ that you will only figure out by practicing.Grab a book and start studying!

As a new and coming crypto trader, I’m looking to start trading small amounts of money (<$100) in order to just get my feet wet and learn. That being said, I'd love a service that allows me to do so for as small a fee as possible (read: as free as possible). A $5 transaction fee would be absurd when buying $50 worth of crypto, let's say. Also if anyone has any other suggestions on what apps or services would be best to use when considering portfolio management or watching prices that would be greatly appreciated!

Check out coindominancecharts.com instead of coinmarketcap.

If the price dips way out just say you are a true HODLer, if the price skyrockets sell and you are a master trader, win/win.

Aren’t you spelling Hold wrong there? If that’s a new term, please enlighten me.

Cool, do it. but do it with demo money until you have had 12 consecutive months of gains.

This isn’t a meme.

12 consecutive months.

Most will win their first couple, and then they think they have the hang of it, and will lose the next 6.

12 consecutive months, and then ask yourself if you really want to gamble with your life savings (the only way you are going to have enough margin to trade correctly, for most people) as a profession. It’s too stressful, and there is too many automated solutions that the average joe can take advantage of to make manual trading way more stressful than any ones day job should be.

Source: trading forex for 2 years.

Why is everything I read about day trading crypto so negative? Bitcoin seems to fluctuate 1-2% every few hours, using coinbase pro and only using limits, you get charged no fees as a market maker.

I get holding CAN being more profit, but you never know when it will crash and all that profit will vanish..

day trading you keep your risk to 1%..

I just started yesterday with 170$ in bitcoin.

I lost out a bit on profit when the price dropped out of panic, but it almost always spikes back up. I did the calculations, assuming there’s no bull market soon, if I make 3 trades a day, at 1% profit, my investment will go to 400$ worth (I dont care for waiting for a bull run, they always end and people get suprised when they dont get out in time and lose 75%..).

This investment is exponential too…

the next month itd be 1k..

till I’m making enough to live on…

For every trade that makes a loss there is the counterparty and the exchange making a profit. So all daytraders are on average losing money.

I would classify it as similar gambling as playing poker. Also there you are on average losing money because the house takes their cut.

> For every trade that makes a loss there is the counterparty and the exchange making a profit. So all daytraders are on average losing money.

Depends on the exchange.

Coinbase offers 0% limit orders.

There are ways to mitigate expenses day-trading to the point that it comes down to whether you have the temperament and if you are backing the right horse. A profitable venture is better than zero-sum, because the investments that gain value sap resources from the investments that are duds.

Im not looking to make much money, I just want to start trading.

I love the idea but I can’t really find where to start.

I have watched some youtube videos, and I want to buy something like Nano since its only like $2, but I don’t know where to do that, or how to know when to sell/buy.

(sorry if I haven’t used the right tags, I’m completely new, if that wasn’t obvious enough)

lol, I suppose the “random people trying to throw their money into crypto” sign is as good as any that a bubble is coming.

You’re going to have to sign up to a few exchanges.

Apologies if this topic has been covered before or is breaking any rules. Throwaway for obvious reasons.

I feel like I ruined my life by dabbling into cryptos as a clueless college kid.

I first caught wind of it when a buddy of mine said he was going all in on ETH in May of last year. I said hell with it, signed up on Coinbase and threw $5000 into crypto. Mind you this is like half of my life savings, but in the grand scheme of things it’s not too much to lose.

Well, I went down the rabbit hole and struck gold a few times, hitting 10x’s on multiple alt coins… I brought my 5k initial all the way up to a $880k portfolio in December 2017.

Now I should have listened.

I should have cashed out, yes.

Once I hit $1 million I was going to…

I would have been set.

the memes are what is keeping me from suicide lol, after losing 138k in nano :(. This help me keep smiling and going forward

Let me get this straight… You poured OVER $138K USD of YOUR OWN MONEY into NANO?

Orrrrr….

I suppose I am asking for a bit of motivation but also just out of curiosity. I started to muck around with trading maybe a year or two ago, lost some money and then just let it sit there until recently where I have been following the markets and making small trades. I have been doing well lately (well as in not lost money) I am only trading with approx 1 BTC and doing small little conservative safe trades but if possible I’d love to turn this into a fulltime gig but am struggling to find A) confirmation that it’s possible in the way of other crypto traders and B) any good source of learning or mentor-ship specifically for crypto.

Honestly, I have been trading for about 9 years seriously and can say I don’t like the term “full time trader” nor do I think anyone should aspire to be such, let me articulate a bit.

Start into trading with the book How To Make Money In Stocks: A Winning System in Good Times or Bad.

I completely agree. That said, I like to more than just hold, so I made my own index on Shrimpy. It’s easy, keeps me diversified, and indexes usually outperform managed funds.

I’m a bot, bleep, bloop. Someone has linked to this thread from another place on reddit:

[r/u_cryptokhaled] Top 10 resources that can help you learn the basics of cryptocurrency trading

 If you follow any of the above links, please respect the rules of reddit and don’t vote in the other threads. (Info / ^Contact)

If any brigades are found in the TotesMessenger x-post list above, report it to the modmail. Thank you in advance for your help.

I am a bot, and this action was performed automatically.

One reply on “Beginner’s guide to day trading Cryptocurrencies : Bitcoin”