My trading tips and experience of 1 week trading crypto

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Yesterday was a special day as I got my first payout , it was not much but it felt good to get something for my content. Therefore as is practise in this community I would like to share the knowledge I have gained about trading from my first week of trading. First of all some mental ground rules

Stick with me these are short bitesize paragraphs but really important. If you stick with me you will get some nice moving pictures at the end.

It can get really boring

This stuff involves numbers and analysis especially if you want to make some money. I am not trying to scare anybody off and you do not need to be competent in Calculus or Computer Science but you do need a healthy amount of interest in analysis and exploring different trading tools and what they represent. Lucky for most us the trading tools do the calculations but you still need to know how to use them. You don't need to understand how your smart phone works but you need to know how to use it .

What goes up must come down

This is true for gravity however instead of the famous apple dropping from the tree imagine its bouncing a on a trampoline. Don't be the idiot on the the trampoline trying to grab those apples as they bouncing. Be the dude off the trampoline that catches them as they bounce up. Having a good understanding of this concept will steady your mind from freaking out . When the prices plummets or rise. This is where the boring stuff comes in to ease your troubled mind. If you done your research and your confident you will be profiting off the headless chickens running around. It's pretty gruesome but they will either learn or exit the market . Its not for everybody.

Remember the big picture

I think this is really important for the crypto trading scene. First off we all want to make some extra money ,thats why we trading however it is important to bear in mind the bigger picture. We would like to create a decentralised monetrary system where we can send money to each other without on relying third parties. When you convert your bitcoin into fiat it is very counterproductive to the system. However at the moment we do need to do it at some point. For example I sent some Bitcoin to my brother in law in New Zealand to buy my mum some wine on her bday. What actually happens is he had to use his fiat currency to buy the wine but kept the bitcoin as an investment. So not the complete article but close enough. If you make some good profit and want to buy something go ahead but keep some of that investment in crypto , tell your friends about cryptoand lets all get involved.

Its fine to invest small but bear this in mind

This is some real personal advice because in the beginning I was looking at some youtube videos and there were alot of people telling you to start small with $500 or $1k and I felt totally dejected by this barrier to entry. Who has a spare $500 seriously ? I have written an artcile on how it is ok to start small if you want a little more detail

https://steemit.com/cryptocurrency/@stickchumpion/dont-laugh-at-the-little-guy-with-a-few-bucks-to-invest

These people are normally only trying to tell you how to get rich and if you go back to the previous point, remember the big picture, getting rich is not the end game here. It is about creating a community. However part of what they say is warranted and here is why if you invest a small amount like I did.

Ok Ill tell you but im still a little embarrassed ...$22 .

Your gains will be tiny , at the moment im up to $28, but this is ok cause I remember the bigger picture. Secondly on the trading platform you can only sell a certain amount I believe its 0.0005 Bitcoin which is around $1.70 which is not bad but can sometimes limit your options . Especially if you take $20 and split it 20 ways.

HELLO ! ,STILL AWAKE. HOPE YOU STILL WITH ME

HERE ARE THE MOVING PICTURES WITH ONLY MINIMAL WRITING

This is a good introduction to Trading. I really like this dudes analysis as its mellow and explained well. He also has a private members club where you can get more info , it comes at a price but I don't blame a guy with good knowledge making a small profit and getting people into crypto.

Video by Nuggets News

This is the antihesis of some other videos ,usually designed to drive up the price, where they talk fast and randomely show you peaks and talk absolute nonsense about what they represent . For example "this here is called a lions mane and this means its gonna go up by 500%".

I also like videos by a guy called ChampagneCrypto on steemit as @champagnecrypto. He does live chats where he answers a lot of questions withj a postive attitude and funk music plating in the background.

Finally here are some tools ,I learnt about from Nuggets News, explained in a bit more detail. These help you to identify oversold or overbough markets.

Stochastics

Video by Profits Run

RSI

Video by David Moadel

I think the pictures of models have to do with a playon the words model as in financial and fashion models.

MACD

Video by David Moadel

I think the pictures of models have to do with a playon the words model as in financial and fashion models.