Beginner trading
Hi I'm planning to do some trade in cryptocurrency. As a person who has 0 knowledge about the market what tips/advice can you give and let's say for example can I make 500 php grow?
Posted Jan 16, 2023, 10:41 AM UTC
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Sharing my learning as someone who’s been in this for 10 years:
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Have a goal on how much you want to grow your money. This is very important as investing is actually very emotional. Pag lugi, gusto mo na ibenta agad pero pag kumikita, ayaw naman ibenta. When your stock price hits your target, sell. Don’t be greedy.
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Watch the trends, in the past month/year/5 years/10 years how high did this stock/crypto rise? How long has it went? This will give you indicators whether its a good time to enter.
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Timing is very critical. Monitor your investments closely (especially crypto given volatility). Check them everyday during opening, lunchtime and closing. These are when prices move drastically.
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Lastly, stick to the principle: Buy Low, sell high.
Pro Bono tip re Crypto: right now it’s on a small rally which started early January. But look at the prices during Dec 24. I reckon the prices will go back to those as its still bearish soooo be patient and time your entry :)
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Honestly? Don't trade. Invest. Especially if you're a beginner, learn how to invest and then when you have the capital to lose, trade.
Crypto is a one big sh*tshow nowadays, try to learn the stockmarket and some basic TA to be literate with the terms.
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Aral muna boss.
Paper trade ng 1yr or so. Pag may "sarili" ka nang system dun mk malalaman sa backtesting at paper trading kung ok ka na.
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No matter how much you earn in your crypto trading you will never learn the value of money.
You will end up broke.
Just read through the dozens and dozens of threads where crypto investors hit big and just pissed it away since its basically easy money so they thought.
Its basically gambling. Guess what happens to gamblers?
My advice to you is learn the value of money. When you learn the value of money. You will think twice gambling in crypto.
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Search mo si Stock Tambay sa YT. Beginner-friendly mga videos nya. Meron syang series for noobs. Crypto trading can make or break you. Magmock trading ka, meron nun sa binance. You will get 3k usdt as initial capital para mock trading. Dito mo ibbacktest mga matututunan mong strategy.
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My advice for beginner traders is to watch the market before entering it. You can also do mock trading just so you can get the hang of it. Don’t go into something without prior research or guidance from someone in order to lessen the risk of losing your money.
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Most exchange minium trade ay 10usd.
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Use it to buy an ice cream, cake or anything sweet. Saves you a lot of headaches.
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buy high sell low
wait or is it the other way around
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One key thing to note in crypto is at ANY time, the market can drop like 50% so be very attentive and buy only AFTER things drop. Sell when everyone is euphoric and talking about their gains.
If you need more help I find this series to be a decent starting point it's very basic for newbs https://www.youtube.com/watch?v=eqjjdx3eP70
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paper trade kamuna boss :>
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How and where haha
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May sign in bonus naman paggumawa ka e hanap ka ng cex(centralised exchange) na trip mo may trial funds naman dun tapos aralin muna paano ka magtatrade
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Tradingview mismo meron, exchanges usually use tradingview. Kung magaaral ka naman ng technical analysis, tradingview ang kadalasan ginagamit. Paper Trading by Tradingview. You can add commissions and set a demo account balance as much as you like.
Also look for video tutorials on how to use the platform first then analysis na.
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Not sure if paper trading would help if the OP can only invest 500 pesos. At that amount, losing even 100 pesos of real money would be a mental challenge.
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Begginer trader: congratulations, you're as good as those claiming to be experts here. Only catch is you won't get any better.
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Why start at one of the most riskiest asset class in the world?
Sagutin mo muna itong risk assessment na to for you to know if sa crypto ka ba talaga dapat pumasok. https://pfp.missouri.edu/research/investment-risk-tolerance-assessment/
I got 23 which is average, is that fine?
Read what the results says about that score. :)