Post
Topic
Board Trading Discussion
Re: How i can Start Trading !!!!
by
jonsnow888
on 14/04/2017, 09:33:46 UTC
I am Annie ...

Hi Annie, I'm sure you learned some things from dice trading (hopefully bankroll management) that you can use in trading alts.

First, I agree with the advice below:

I would advise you to start practical trading with low amounts and do that more frequently. Make sure you pick the right pair for trade because there are more than 600 altcoins at this moment and most of them are going to end up with a loss so be careful while choosing a pair.

Here's how you can learn how to trade:

1. Set a small budget and deposit to more than 1 exchange (e.g. poloniex, kraken, btc-e).
2. Pick an altcoin that is not very hyped, but has some volume, and try to do a test trade.
3. Watch the orderbook and try to observe how people trade (this is to get a basic understanding of how it works not to mimic them - assume that they are losing).
4. Start learning the basics of technical analysis (you can learn the basics in a few days) and practice making your own analysis on places like BitcoinWisdom, CryptoWat.ch, TradingView.
5. Start making trades based on technical analysis, and don't risk too much at once (use solid bankroll management).
6. Don't pour more of your own money into it. Try to survive with your starting bankroll and reinvest all profits.

This is how you get started. If you can make it a habit like dice, your skill will definitely improve and you should become profitable.

Good luck!