Where I can learn Bitcoin Trading?
There are different trading trusted website known as exchange . You do the trading on those website.
Well you basically just draw random lines at the chart, then make sense of them, even though they mean nothing. Then you buy and sell according to your predictions, but most likely even fail to even execute your fantasy strategy due to your emotions. Then you after-rationalize everything, that you were actually right, but you just failed to actually execute your thoughts/strategy, and keep trying. You keep repeating this over and over until your balance hits 0, or you eventually decide to quit. But dont worry, your money didn’t go to heaven, it all went to a small group of traders on the other side of your trade, which they thank you dearly for, thank you for your participation!
This is how you trade
Well to be fair, there is 98% chance that this will be your story. You could be the 2% on the other side, couldn’t you. You being a woman, actually increases your chances of making it, or at the very least slow down the eventual.
I cant understand this.
There is no way to learn how to trade (provide liquidity), since any successful trader and their strategy wont be shared unless it is a very broad and inefficient system. Since sharing it would destroy it. So you are basically on your own.
The best you can do is learn how a market functions on a fundamental level, without taking into account the asset/instrument being traded and then spend years figuring out your own strategy and even then, Its high likely you wont be successful.
Go ahead if it is something that interests you and something you want to do, because you need to like it and find it interesting, else you wont make it. There is no easy money, and my personal recommendation is dont do it.
You can just invest, and hold things, you dont need to get involved in short term trading.
I’m not sure we can list exchanges. You need to turn your “paper” (fiat) currency into digital currency, so you need to use something like coinbase to do that. They will take your fiat currency and give you bitcoin, litecoin, ethereum, et cetera, for the current exchange rate + a fee. Congratulations, you should now have some cryptocurrency.
Once you have cryptocurrency you send it from your Coinbase digital wallet to your wallet at a cryptocurrency exchange.
What is a digital wallet, you ask? It’s an address you send your money to - think of it as the routing number if that makes more sense to you. It’s where you send the crypto-money.
Now that you’ve sent your cryptocurrency to the exchange, you will need to wait a few minutes for the transactions to be verified.
What JB455 well described above is what happens to most new and even experienced traders when they get into such a wild, unpredictable, unregulated and manipulated market. This is why most people that have made those mistakes (like me) change their strategies, by accumulating during the dips (like right now at 0.14) and NOT daytrading, or you will get burnt. What he is essentially saying is to learn from the mistakes of others. Dollar Cost Averaging is in my opinion a good strategy in order to mitigate risks ( you split your buys into several parts in order to average your entry point to the lowest possible point).
This is why choosing your entry point is capital, and luckily for you, I would say that the 0.14 right now is a nice entry point. It can go lower than that, but can also up again as a new quarter starts on Tuesday.
Agree with everything you said… Though I Would call it the same for all markets. Do you know any market that is easy to trade? Also I would say being that being unregulated and easily manipulated not being an issue, as long as not done from the exchange side (then it is a problem) but if the exchange is fair, then everything is fine, sure you can rip off and trick some traders, but thats irrelevant in my opinion… The fact that there is manipulation, is also just another opportunity for a trader to take advantage of, so its not necessarily a disadvantage for traders.
The thing is calling for government regulation, you will usually get a lot more than your asked you. I mean just because there is no regulation, still doesn’t mean you are allowed to blatantly rip people of, a business can always be sued for breach of contract or fraud.
I know you wont engage me in discourse with me anymore, but thats fine
Btw I saw the thread about the BTC/alt correlation, might get around to make a reply, the answer is rather simple actually, but it takes a longer explanation to illustrate the concept… And it is such a beautiful illustration of the efficiency of markets, Its almost like magic.
To select the exchange first you have to see on which exchange your token is listed. But for most of the new ICO the token is not released on an exchange immediately sometimes it takes 1-3 months. But if your token is ERC-20 compatible & you want to sell then you can trade them on forkdelta or IDeX they are decentralized exchange you just need to enter contract address of your token & you are good to go but you can only trade them with ETH only. But if you want to trade Bitcoin & altcoins that are already listed on reputed exchanges so some of the good exchanges are Kraken, Binance, Kucoin, Bitstamp, Poloniex & Gemini. And don’t store your Bitcoin or Altcoin on an exchange it is risky you may lose if an attacker exploits any vulnerability present on those exchanges, store them on the wallet for which private keys are held by you only.
I learnt crptocurrency trading from hashtag investing group, this group has more then 800 traders
Dow theory and Fibonacci go well together. That’s all I use. I suggest studying them. It’s a little difficult with crypto due to the volatile nature, but you need to look over a week to week basis (for stocks I use weekly charts and crypto I use daily charts).
There is no safe way of trading crypto in my opinion, it’s a roller coaster and a gamble in the end. It’s manipulated badly. However, if you study enough charts no matter if it’s a stock or crytpo, they do similar things.
Fibonacci works on the laws of nature. It’s quite remarkable just buy doing some simple math you can figure out where it’s most likely to fall to during a crash. Sometimes I take that entry point and hold (providing it’s a good crypto or stock that you believe has good potential), or sometimes I wait for the trend to change and see an upward move before getting in.
Just remember, “the trend is your friend”. Very rarely will you pick the bottom or the top, so just try to find the profit in the middle. Oh and like other people have said, don’t day trade, you’ll lose your money very quickly.
If all of that seems too hard, buy when everything is red and for dear life. Just please don’t ever use what you can’t afford to lose, trading isn’t worth losing sleep over. And beware of trading with your profits, it can get you into big trouble if things go bad.
Just my 2 cents worth.