Quote from: btsjungkook on September 28, 2018, 11:01:12 PM

Do: Hold at whatever you're buying
Don't: Trade

Explanation: Everyone is losing money by trading because no one can predict the outcome of the market (short term outcome). But we can all be fairly sure that the cryptomarket will evolve within the next years and it's value will multiply by a lot. Considering that, it makes no sense to trade "catching waves" to make short-term profits, if you can simply buy any of these coins and hold, and make just as good of a return as you would by trying to trade. Just consider doing something else, having a job for example will most likely provide you with a better income than trading (even though trading is a job as well, leave it to the experienced one's) if you really do want to get invovled in it, just put a very small amount of your portfolio into trading, maybe 10% and trade with that. Something you can afford to lose.

his is some good advice. Trading is not easy; many fail at it over the long term (if not the short term). Bitcoin has kind of become like the crypto equivalent of broad stock market indices in the sense that you will probably make a decent profit by buying and holding longer term. Trading is only worth it if you can beat the return that bitcoin will give you.

If you really are set on learning to trade, then I advise the following:

1. Do some basic investing (e.g., buy some bitcoin on some pullbacks) so you can try to earn some money while you learn how to trade.
2. Recognize that learning to trade will take a lot of time and hard work, and will take years to learn to do well. If you don't enjoy staring at charts for hours, stop here. Trading is not for you.
3. Don't quit your day job (see #2).
4. Start by taking some time to learn the basics of what trading is and how to do it. Youtube has a lot of good material.
5. After learning how to trade, learn more about technical analysis and spend time developing a trading plan that fits your personality.
6. Backtest and forward test your plan, either on paper or with very small trade sizes. Optimize your plan.
7. When you think you have a sound trading system, trade small amounts first and increase your trade size slowly as you gain confidence. Learn to control your emotions.
8. Profit.