Cryptocurrency Trading – Best PDF Guide For Beginners
- Basic Knowledge about Trading
- Chart Analysis Quickstart
- Crypto Specific Trading Strategies
- Risk Management Explained
- Common Trading Mistakes Described
- Tips How to Become good asap
- Advice Regarding Trading Platforms
Why An Excellent Crypto Trading Beginner’s Guide Should Cover Those Topics:
Basic Knowledge About Crypto Trading
The financial opportunities revealed by Bitcoin and other cryptocurrencies are incredible, that’s for sure. So it’s more than understandable that you want a slice of the pie!
A good guide should start with teaching you the general rules of trading:
As a crypto trading beginner you should start with understanding the underlying mechanics of financial markets in general and the rules of profitable trading, before you are ready to understand the driving forces of crypto markets and before you are ready to get into the trading details. You should learn that there are some particularities in which those new volatile trading assets differ from the traditional stocks or forex markets.
For traders it’s important to know who is trading in the markets as well as if and how those other traders are able to cause a visible impact on the price direction. Just like sportsmen or poker gamblers who should better know their opponents or comrades, crypto traders should have a rough idea with whom they are on the field.
A sound crypto trading beginners pdf ebook should also help you to define your goals – most newbies don’t even know what such goals could be and why they are so important regarding their trades.
Chart Analysis Quickstart
The next field you need to explore is technical chart analysis which delivers buy and sell signals. No trader can really make a sound trading decision without having checked the trading signals provided by price charts. Traders can only make reasonable trading decisions based on chart signals rather than on plain intuition or based on nothing, as it is the case in gambling.
A useful cryptocurrency trading guide for beginners should give it’s readers a range of tools they can use to find trading signals, everything pictorially and simply explained.
Crypto Trading Strategies
As soon as you have learned to use a set of chart analysis tools and indicators, you are ready for the next level of a pro trader’s education:
Understanding specific trading strategies, which will show you what it means to “have a plan”.
Once a trader knows his strategy, the previously learned technical chart analysis will help him to find buy and sell areas in the specific market environment.
However, many pro traders have a preferred strategy they like to use the most – basically because specialization usually leads to a higher degree of mastery than doing too many things. But once their strategy doesn’t work anymore, traders should be able to quickly shift to another one.
So your crypto trading guide should include a whole range of crypto trading strategies easily explained.
The website of cryptotradingbook.com offers a free cryptocurrency trading guide for beginners explaining one professional crypto trading strategy, so beginners get a taste of what it means to have a plan as a trader. Claim the free ebook here.
Risk Management Strategies
Risk management – knowing how to protect your trading capital from bigger losses – is an elementary part of every trade.
As a crypto trading beginner you should learn how to protect your capital from bigger losses while maximizing the chances that your capital will grow fast. There are some risk management strategies that can be used in trades. The most fundamental risk management measure is the stop loss order, but there are some more interesting strategies traders should know and be able use.
So a top cryptocurrency trading pdf guide should teach you easy but effective risk management measures.
Advice Regarding Trading Platforms
When knowing what to do, you need to know where to do it.
Brokers are very different regarding their features. Choosing the right trading platforms in advance is pretty helpful so you won’t need to change your broker soon again once you find out that essential features aren’t supported.
The needs of traders regarding broker features can differ fundamentally: Some need brokers where they won’t be asked for an ID verification while others just want to know where to get the highest USD withdrawal limits, just to mention two of such claims. Most brokers are kind of unique regarding their mix of features, so most are not really substitutes but rather targeting different users.
Your beginners guide should help you with your broker choice.
Tips About Practicing and Documenting
Traders should always keep a trading journal and a good cryptocurrency trading guide for beginners should help you with that. A crypto trading journal is very important because it always shows your latest performances at a glance. Trading journals make traders learn faster and more efficiently.
The Biggest Trading Mistakes To Avoid
A helpful crypto trading guide for dummies should help you to learn from other people’s mistakes before you make them yourself!
You should understand why most newbies lose too much money over time before they learn how profitable trading really works. Although the basic principle of how to make money in trading sounds fairly simple – buy low and sell high – most traders manage to do the exact opposite, often ending up with high losses.
The Best Security Measures
All successful trading would be useless, if your coins would get lost.
Your cryptocurrency trading guide should not miss to educate readers sufficiently when it comes to data protection. You should learn the best protection measures that exist at the moment and really take this topic for serious.
The more crypto grows, the more people will try to steal other people’s wealth.
Conclusion – The Best Full Cryptocurrency Trading Guide for Beginners:
The best crypto trading ebook for beginners currently available online explains all those topics and many more essentials and useful insights in about 150 easy to read pages.
There’s likely no other way to get that much well selected knowledge in such short time. The great thing about the cryptocurrency trading guide for beginners pdf ebook is the highly efficient concept of the compilation of knowledge:
Beginners should not waste time by learning stuff they don’t need right away.
So the guide teaches the essential crypto trading knowledge you ought to know, with the most important expert tips you need in that field, while skipping extra knowledge you can still learn later in your trading career.
Of course the practical part, the trading itself, has to be executed wisely based on the techniques described in this guide.
Please note: This post is not financial advice and should not be treated as such. The reader’s trading decisions are only up to him/her. This post doesn’t replace a personal financial advisor.