Post
Topic
Board Trading Discussion
Re: How To Go About Crypto Trading For Newbies.
by
Cherylstar86
on 05/09/2021, 05:11:02 UTC
Hello,
I've realised a lot of people have capital in their account to start investment in crypto currency but have no idea how to go about it.

I have a lot of friends and people that have approached me either saying they have some amount of money to start with or asking me how much capital they need to get started (the minimum). I tell them the same thing every time ~ that they need to get acquainted with crypto first before getting their hands dirty with investing or trading or whatever they want to get their hands on. They might get lucky as newbies and would easily lose those profits if they don't have some crypto fundamentals up their sleeves. For someone just getting started, I recommend:

1. First deciding what you want to be - A trader / investor, etc. But I'll be focusing on trading instead of investing (a la trading board)

2. For trading, it's best to explore trading resources available:
  • Babypips.com
  • YouTube

These are some of the best trading resources I've found that can help anyone get started in crypto trading.
+1
Whether you are going into investing or trading .. you have to upgrade yourself.

get yourself educated through a lot of well known sources , to be specificly there is countless resources on youtube but most of them arent really well explained and experienced , could be just a random knowledge and full of specualtion .
youtube is a great educational resources if you prefer to not reading books through  Grin  , as books always better for me.

after you have acquired a little knowledge then you can go into practice and the more often you doing it the more skills you'll get in each passing day.
Indeed. Knowledge is very important in trading. Once you start trading you need to have the capital. Always remember that trading is not that easy, it is too risky and you can't guarantee a return, you might lose your initial capital for trading. If you want to trade, you should need to be prepared, learn the basic, you are able to manage risk and study more or should I say do a lot of research about trading or ask advices to those veteran who experienced a lot in trading so you'll not end up wasting everything you have.