Crypto 101 - The basics I wish I knew when I first started trading

Common graph patterns

Lingo Breakdown

Fundamentals of coin market cap

Candle patterns

a few images to get you started on your way to becoming a multi-bitcoinaire

this is a safe place to ask any questions and a great community to ask for help.

https://simplecryptoguide.com/ a great step by step guide on how to get started (courtesy of u/Stoffmeister )

I intend to add to these as i find them. please feel free to comment any more useful information or images.

List of things I wish I knew before I started trading:

  1. Don’t day trade

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Trading as a beginner is like a bankruptcy speedrun

Holt said:

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Trading as a beginner is like a bankruptcy speedrun

You do learn the market movement of it. It didnt loose much at the beginning, but gained much knowledge

@StevenMiller
It’s true, but you can use a demo account then

Holt said:
@StevenMiller
It’s true, but you can use a demo account then

Staking your money can be a better push/motivation to learn how it works. Worked for me. But i also lost my money in the learning process…

@Quirin
You gotta lose money before you learn how to make it .

Holt said:

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Trading as a beginner is like a bankruptcy speedrun

Lmao

Holt said:

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Trading as a beginner is like a bankruptcy speedrun

better to save scum and DCA

Holt said:

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Trading as a beginner is like a bankruptcy speedrun

I won! New record!

Holt said:

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Trading as a beginner is like a bankruptcy speedrun

Not if u have common sense. It’s just following sets of rules, not that hard. The problem is not all people are created equal. Most people don’t want to do the proper work before getting started.

I avoided problems when starting, but that’s in large part to common sense. I did not expect to get rich overnight and quit my job. I spent countless hours studying before starting. It’s like with literally ANYTHING else you want to be great at.

Most people are not too bright, fail to plan ahead or prepare properly and not much more than a sheep following everyone else.

You don’t know how to do something, what do you do? I just figure out myself and do what it takes to get it done, many people will just assume they can’t do it and don’t even try. These types are the same who lose their money trading because they lack common sense.

@SatoshiSeekerSam
Yeah always, but if you studied then you’re not really a beginner hahahah

Holt said:
@SatoshiSeekerSam
Yeah always, but if you studied then you’re not really a beginner hahahah

Good point

Holt said:

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Trading as a beginner is like a bankruptcy speedrun

any% reporting in

Holt said:

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Trading as a beginner is like a bankruptcy speedrun

I got like 5% left from my initial investment from 2017/2018. Daytraded it all away. Bought hyped coins on their way up, panic sold on the way down. It accumulated in going all in on IOTA right before the top. Still got those though.

No regrets though. It was a great lesson in patience and spontaneity. Lessons that have matured me and that have helped me become a decent investor today.

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Very true if you’re just starting out, it’s embarrassing how long it took me to realise how risky it really is

@Jony
Yeah not saying it’s impossible to make money, but it’s harder than it looks and most amateur traders would be better off holding IMO

Cory said:
@Jony
Yeah not saying it’s impossible to make money, but it’s harder than it looks and most amateur traders would be better off holding IMO

Scalping isn’t that bad, but the fees will kill your gains.

@Raj
my 40 bucks in fee’s in this month already would agree with you :frowning: why the hell do i get baked and try to daytrade gawddfuhkindammit!

Glenn said:
@Raj
my 40 bucks in fee’s in this month already would agree with you :frowning: why the hell do i get baked and try to daytrade gawddfuhkindammit!

Baked day trading is my cryptonite