I want to start trading


#1

Okay so I don’t really have any idea which coin is which and which of those are good to trade and which are not.
Since I am currently enrolled in yobit campaign, I figured maybe I can do something profitable with the coins that I get from the campaign so I thought maybe I can start trading.
Do you guys recommend yobit in trading altcoins?
Also what coins do you guys suggest I trade? I want profits and not loses so any tips you guys can give me are really appreciated.


#2

Hey @Noor1,
I hope your well?
Welcome to GetBURST :slight_smile:

This is what I have to say.

Rule number one: Don’t trade what you can’t lose.
Rule number tow: Never forget rule number one.

Always keep calm and never blame others for loses.
There markets are crazy out there, that is why I rarely give out advice.
Do your research and look at the long term charts.

Losing and winning is part of the trading lifestyle.

Just don’t lose your head.


#3

Hi, what @Estie_Trixie said, trading is not as easy a way to make money as people think, you need to develop a strategy, understand the markets and determine an approach, whether you want to trade on fundamentals or technicals, and you will have losses, any trader that tells you they don’t lose is lying, you’ll probably have more losing trades than winners, but it’s about getting your winners to cover the losses, that’s why you need money management and to understand risk/reward on a trade, you don’t want to blow your whole stack on one trade.

As for YoBit it’s a relatively small exchange so you’re going to struggle with liquidity on certain trades, Binance is probably the best exchange for trading Alts right now


#4

@OMBI is right, I have been trading for my +/- 7 year now and I still lose.
I sit in front of charts for hours and read for hours and still I can’t predict the markets. There are so many factors involved passed, politics, prices, human behaviour and so, so much more.
You have do do a lot of work to be a trader,it is not just buy and sells.
It is a lot of work and you have to put the hours into it,and like @OMB said:

I really hope it works out all joking aside.

@OMB how have you been, how are your trades going?
Have you been trading BURST lately?
:blush:


#5

@Estie_Trixie hi, been a while, yeah trading is going okay, trading in a bear market has been very different to a bull and so we learn.

I’m trading futures on Bitmex more than anything these days, also a different type of trading, just accumulating Burst through mining at the moment, might trade it a some point in the future :grinning:


#6

@OMB I am looking at it today and if it goes under 200, I am buying more :smiley: