As we have a extreme amount of newbies that do not know what they actually do, I thought I write something for them...

As we have a extreme amount of newbies that do not know what they actually do, I thought I write something for them. Way too many people lose money because they miss out the basics. Yes, you are in for a huge wall of text. Feel free to ask questions, as long as I am online.

So you are into cryptos. You set up your account on bittrex, bought some BTC on coinbase and you are ready to go, right?

Wrong. Trying to get profits now is just like trying a slot machine with a high chance of winning. And trying to daytrade transfers almost certainly your money in the wallet of someone else.
First you need the basics:
investopedia.com/terms/t/technicalanalysis.asp
investopedia.com/university/technical/

Read it, understand it, try it. This is what will indeed make you money.
I don’t want to overly shill technical analysis, but this helps you to analyze and understand the history of the graph better. They often confirm themselves through their broad usage alone. And it all boils down to probabilities and anticipation - not predicting the future, because this is impossible.
Again: technical analysis is more like a self-fulfilling prophecy because many people use it, it is not a physical law.

Then, you need to consider news & rumors. Buy the rumors, sell the news.
It sounds easy, but sometimes it is a bit harder to distinguish, as many things are bullshit and the devil is in the details. Let’s say a fan of a coin uses the technology of said coin on a
counter-strike server, so the players can get coins for every headshot. Someone might overly shill the coin with "CS!!! PARTNERSHIP WITH VALVE!!! PRICE WILL MOON!!!!".
This could trigger a newbie to buy at the new all-time high price (believing it rises even higher), which the newbie then has to hold for a long time or sell at a loss.

After that, it is just a matter of practice. It all comes down to probabilities, being able to cut losses, evaluate information and not getting emotional.

Other urls found in this thread:

t.me/trumppumps/
twitter.com/SFWRedditGifs

Then you need a set of rules, e.g.:
- set stop-limits every! fucking! time! you buy into something
- don’t buy at or near a new ATH (rarely goes well)
- always have a valid reason for buying (no, "Veeky Forums said it’s going to moon" is not valid)
- never rely on single platforms alone - reddit, twitter, bitcoin forums, Veeky Forums, blogs, news-sites etc. are very good if used together (stay away from zerohedge tough – tinfoil alert)
- never focus on a single coin alone; diversify in at least 2 time horizons (1-7 days short (ST); 2-4 weeks mid (MT); 1-12 months long term (LT)) & reevaluate them accordingly
- never!!! daytrade with more than 5% of your funds per week/month, if you are not consistently in the greens with these 5%
- if you are in a ugly situation (like having >50% of your stuff being stuck) and NOT in dire need of money: HOLD THE COIN! The market is exploding and the burst of the bubble is months if not years away, you will at least get your money back, if you did not buy useless coins on small platforms

IMPORTANT!
Stop-limit-orders are not a joke, they can literally save your ass! Set one at e.g. 95% of your entrance point/adjusted to the current price, when you are away from the computer or watching a movie etc.
Yes, sometimes it is only a short bounce and you lose some money or profit, while the value goes bonkers afterwards - but most the time, it just prevents you from heavy losses or missing
opportunities to sell your stuff at a good price, because you were sleeping/shitting/suffocating on a Cheeto while wanking on your possible profits while selling on a ATH.

Now you could start to trade with e.g. an excel-sheet, where you insert the buy of a coin and a sale when you sold it. This is called "paper trading" and for just getting a feeling for it.
Do this for some days, while you are learning the basics of analysis.

Then start with small amounts - 10 dollar, maybe 50. If you are comfortable with that, pimp it up with stocking it up with the same amount per week or month.
If you lose some, it won’t hurt and if you gain some, it is a sense of achievement.
Keep in mind that there are days where you look at the charts and say "Yay, nothing to do here but to adjust my stop limits",
as everything is green and fine. And then there are days, where you see all your stop limit orders triggered, because everything is falling into abysmal depths.

Both days are cool, because the first one nets you profit and the second one cuts short your losses or triggered taking profits to enter again.
Because remember: "if there is blood in the streets, it is good to buy". This say was true when Baron Rothschild made a fortune in the 18th century
(I am not implying something anti-Semitic here, he indeed said and did this).
Start to think this way and you get a boner when thinking about crashes.

Also, remember that the meme "HODL" or "hold your coin" only applies to people that bought at a low price and are in the green even in the middle of a crash and the ones that bought at a high price and
did not place a stop limit order. The first ones know that the price will rise further & holding the coin will enlarge their gains later. The second ones know that the high times will
come back and then they can keep their losses small by holding the coin until then.
There is little to no reason to see a coin crashing and not cutting your losses/grabbing the profit so far and buying back in, when the foothold is confirmed.

Let’s get to some general security measures:
On every exchange, take your mobile and enable 2FA (two factor authentification). That way, when you want to withdraw cryptos, you need to enter a code from your mobile which changes every minute.
So even if your PC somehow gets compromised, an attacker is not able to steal your money, except when he also steals your mobile.
2FA is the easiest and most efficient way to secure your stuff on an exchange.
There is absolutely no reason to go without it and it should be the first thing to do after registering at an exchange.

Also, keep your computer safe. Better not watch that pron from the dubious website on the same computer you do cryptos with.
Or at least use a virtual machine for this and be much much safer. It is easier than you might think of. I am a finance guy and even I learned it with some tutorials from YouTube.

If you start to store coins on your own wallet for holding them long term, make sure you have offline backups.
And a backup from the backup. Store them in at least 3 different SAVE locations (e.g. one at your parents’ house, one in the cellar behind a brick and one at bank in a locker etc.).
Be aware of the dangers of doing this with HDDs, as they less resistant to damage than a stick.

Be paranoid. You are handling money and the number of scammers is huge. You can discuss and talk with other people on the internet like you always do, but never give out personal information (except your wallet address - besides someone sending you coins, nothing can happen). The "send me your coins, I double them"-scam is nothing but bullshit, but people still fall for it more often than you might think. Be aware of these things, even with dealing with people you write often with. Social engineering is an art for itself, which is mastered by many scammers and conman, just to trick you out of your stuff without you realizing it being bad.

Speaking of crazy things – here are the two most important rules of all:

NEVER EVER trade with money which you cannot afford to lose. 100k of a shitcoin won’t make the landlord happy, even if it might spike up again and get you dem delicious gains, which could lead to homelessness faster than you can imagine. This proves even more relevant when it comes to food - a bag full of coins is not eatable.

NEVER EVER lend money from relatives, friends, colleagues, banks, neighbors or the mafia just for trading cryptos. If you lose money, you not only put them in financial danger but also the (hopefully lovely) relationship between you and them can get strained.
No money on the world is it worth to risk or even strain your relationship to a loved one. Especially when we talk about the mob, you are in for a world of hurts, if you want to tell them that "THE COINS WILL BE WORTH MORE NEXT WEEK, I SWEAR!!!" when they come to collect their money. They are pretty old fashioned, I guess.

And finally: don’t be fooled by thinking you can get rich fast and lay off for the rest of your life. "Lamboland" and "moon" are memes to entertain, they are not an accurate description what
happens when you only trade for a week or so.
You CAN get lucky and get x20 or x100 your investment in a few days.
But you also need to consider, that you can very much lose everything, especially when you are new. That’s why "only trade what you can afford to lose" is such a golden rule.
Running for fast pump & dumps will make you the bagholder for organized groups and worthless coins sooner or later. This is a gamble you can win or lose in a couple of hours.
Researching and investing is more relaxing and also a secure possibility of multiplying your capital over days, weeks or months, depending on the coin.
The number of people getting money by researching the coins however is a multitude higher than the number of people getting rich on p&d-actions.

Finally let’s give you a practical homework, if you are still interested: try applying the stuff you learned with litecoin.
Check how the upcoming fork of bitcoin might affect the price of litecoin.
How did the prices react to past crashes of bitcoin?
What major announcements are made that might affect or affected the price? (Hint: RUMOR and NEWS)
Did it touch an important point recently? (Hint: ALL TIME HIGH)
Check twitter how the general air about litecoin is – calm, heated with discussions or confident?
What do specialized bloggers say about it being under- or overvalued?
Is there something like a trendline?

Draw your own conclusions. Or how it is called: DYOR - do your own research. Now you have the tools to do that. It might be hard, but in the long run it pays out, as
there are too many people out there that see cryptos as a slot machine and not as a craftsmanship.

In 2-3 weeks, if you got some gains - maybe drop me a beer in form of Bitecoin if this posts and/or the answers I give you in this thread helped you somehow to get profit out of your investments:
BTC: 1GHC6sS56PTmQAUQ7NcrtXxtb5py5vTK8N

Or even better: treat yourself for a new game on steam.
Or take your dog to a walk in the park and get some icecream.
Or how about going to the cinema for the movie you wanted to see for real, not pirated in bad quality on the internet. Take your friends with your or make some there.
There are many things out there to see and enjoy - dont look at charts all day and dream about "lambos" or "moons".
It’s the small cash outs that make it worthwhile to do, if you are not required to life from it.

Disclaimer:
Even if you have read this wall of text carefully and follow the advice of experienced traders, you still can lose money. I am not accountable for any losses you encounter while trading crypto currencies. Trading can lead to addicting gambling behavior, for which you should consult a professional, please – otherwise you might lose everything.

This is now a Q&A thread for newbie. I'm not a pro but i'll try to help. If any experimented trader can come give a hand that'll be nice.

>inb4 everybody start shilling his shitcoins

Good read man, thanks for that. What are your personal coin suggestions for long time Investments?

The best advice I can give you is Do Your Own Research. If you like a coin, the project and the team, AND if it is already old enough, then this is your coin.
I can give you names of coins I like but please don't take them as granted:

- ARK
- SC
- GNT
- ANS (reeee)
- VIA
- XRB
- BLOCK
- LBC

Rather buy a promising coin that has recently dipped or a unstable coin that was in the green the last week?

I learned it the hard way, but Never / Ever buy a green candle coin. You missed the moon mission? Too bad, there be an other on an other coin, but this one is over 80% of the time.

A good thing to do is to watch for high volume coins with a value loss on the last 24h.

A high and quick raise (aka moon) is always followed buy a dip (or a crash for PnDs), and a big dip is always follow buy a moon (for real coins)...

You have to look for an entry point when you like a coin.
Check Stellar (STR) for example, it is dipping right now, almost hitting support line of 1200sat. This is an entry point to me.
I can't promise you this shit will moon once it reached 1200, it can go lower and fucking crash. But once the support is reached and the value stay the same for a moment, a breakdown is coming (moon or crash)
For this one, I'm really hoping for a moon as i entered at 1370 which was the previous support line...

Thanks for the thread op. Just today I decided to give it a go and see what happens. I started with a pretty low amount because I don´t have much money to begin with, but it´s money I can lose and I love to experiment with things.

Care to give me a quick explenation on pic related? I mean it´s obvious that I´m selling and buying here, but someone has to accept the offer, right? Also would you rather accept one of the bids or asks or buy and sell yourself?

What's an easy way to go from fiat to a altcoin?
Is there a better way than pulling money from my bank account thru coinbase converting it to bitcoin then transfering the bitcoin to another exchange?

You can find different exchanges that give you better rates and don't jew you on transacation fees, but other than that, no. Use fiat to buy BTC, send BTC to another exchange, trade BTC for alts.

U just need a wallet and bitcoins in the wallet.

You can make a wallet on blockchain.com and buy bitcoins from anyone craiglist,atm,localbitcoins.com

Then from there transfer bitcoins from wallet to exchange of your choice and start trading.

The goal is to aquire more btc. value of shitcoins are valued in btc.

So your going to be transfering back and forth to btc a lot.

>it´s money I can lose and I love to experiment with things.
Perfect, and more than that I would add : That is money I know I have lost! Then you won't be sad when you actually lost it, but you'll love your new lambo you just had for free.

>Care to give me a quick explenation on pic related?
On this one I will need more experienced traders but here is what I've learned and what I do.
First, yeah on both the lists (sell/buy) someone has to accept the offer.
For example on the Bids list of your screenshot, when someone will create a SELL ANTSHARES offer of 0.00222017, for 7 ANS, he will buy 6.86381557 from the top guy, and will still have 0.14... on the right list.

When it comes to you, if you want to make a long term investment, you have to use the "Conditional" limit order.
If you want to buy because you think we are at the lowest price, just place a condition to buy IF the value is rising (so you assume it will rise more). This way if it keeps go down, you won't regret your past transaction. If it did goes up, you'll lost a few sats but might be riding the new moon mission

This is the exact same thing when you want to sell..

Jesus you just posted this like 2 weeks ago. Your guide is more baby tier than these newbies. It's shit for older people like me.

You should be teaching them how to profit from crash markets when everything feels like a slot machine in the red.
And teach them how to spot a bull market .

If you want to know the truth, I did not write this guide. I just think it's useful and for once it's not a scam posted on Veeky Forums.

I told you i'm not pro, and I totally agree with you, this market is fucking awesome right now, but please elaborate, I have no doubt you'll explain this better than me as i'm still quite new.

The advice was fine in terms of risk management, which is like 1/4 of successful trading.

haha fuck all that shit I'd be a rat forever or just wait for the heritage of my pathers

ok

you really think you should put stop-limit-orders at 95% of your entrance point? that seems a bit too conservative

Indeed that's not what I do ATM (because I involved few dollars for now) so I play it more risky.
But for long term investment, that's what I'd do. For midterm maybe 98% is more realistic? I would really appreciate to get an advice from someone experimented with those stop-limit-orders.

I do 92% down and 112% up

Can you provide more rumor vs. news examples? Or maybe a few tips on how to differentiate one from another, from your experience.

Kudos for providing this. Especially at this time

>Stop limits
I don't have good experiences with this desu. It works better on normal markets because the price generally follow a more clear pattern, while crypto has constant oscillations and is dominated by volatility. Chances are that your stop loss will be activated and the price will go back up.

Do you guys short these coins? Seems like its dangerous to do so. I might start day trading soon once I'm done work, but I think I'd only feel comfortable waiting for long opportunities.

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAANS?

The only promising coins out of those are Block, LBC and maybe Ans for the future. Ark, SC and GNT are the epitome of meme coins

this sounds hard. i'd rather just buy whatever memecoin Veeky Forums tells me to and blame jews when i lose

Nice posts

Which cryptos do you hold long term? I'm thinking about going with btc, ltc and xmr once prices will have fallen at least 50% in a few months.
I have been lurking since 2014 but never bought. Not regretting it though, such is life.

There's no issue with transferring right from coinbase to bittrex right? Someone on here was saying that could get your account banned but I've never had problems and I'm not sure why that would happen.

pls explain why ark, sia and golem are memes.

I've never heard of this. Don't use jewbase unless you want buy something right away because of FOMO.

Those are rather meme-y coins, you don't hold any top coin? No btc, no ltc, no xrp? Because you sold your position or you never owned any?

Let's make pumps great again

We trying to make pumps great again.

t.me/trumppumps/

>- if you are in a ugly situation (like having >50% of your stuff being stuck) and NOT in dire need of money: HOLD THE COIN! The market is exploding and the burst of the bubble is months if not years away, you will at least get your money back, if you did not buy useless coins on small platforms
Sigh. This one is painful.

i think thats a pretty good strategy

is there a way to put two stop orders on bittrex? like, one stop order for a 12% gain and one stop order for a 8% loss?

God bless you user

>GNT
>memecoins
pick one. GNT was the best of the bunch on that list. though I guess once you say meme it is like saying racist and you don't need to explain yourself.