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

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[Common graph patterns](https://preview.redd.it/ltwq2csject61.jpg?width=1920&format=pjpg&auto=webp&s=ffb567c573ac3681397e7206122bcb709c2c1f81)

[Lingo Breakdown](https://preview.redd.it/jv2q18sject61.jpg?width=575&format=pjpg&auto=webp&s=995289be0cc22dd68eac1f0070d832972dce0d7f)

[Fundamentals of coin market cap](https://preview.redd.it/8m1769sject61.jpg?width=1615&format=pjpg&auto=webp&s=2d7e75d16b8da8b7b4cea70f13e7fef0991c2df2)

[Candle patterns](https://preview.redd.it/herr9gsject61.jpg?width=3645&format=pjpg&auto=webp&s=a9b4eccce502feb14bbef2aeaa2b4612f0e25cd6)

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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.

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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.



View Reddit by Dazzling_Buy_1934View Source

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28 Comments

  1. The lingo and CMC fundamentals are some small helpful things, but I wouldn’t really pay too much attention to the graph and candle patterns.

    Market hasn’t matured enough imo to rely on it yet. Ex.: If Bitcoin suddenly dumps, you can assure the market is going down with it. Movement in the crypto market is more as a unity, whereas with Forex this isn’t the case.

  2. Yeah this is really good for people who want to trade, but I’d advise beginners to not begin trading on crypto, maybe at least on a demo account first.

    There’s a lot more work learning how to work the graphs than just knowing the patterns, i watched some good youtubers first and I think the most important thing is RISK MANAGEMENT rather than knowing patterns

  3. One of the things that needs to be stressed more is that it is also extremely important to have a solid understanding of the cryptocurrency that you are investing in (or any asset for that matter), otherwise you are just following the whims of the market.

    The charts common graph patterns and candle patterns are for technical analysis and forecasting patterns and trends as to where the price for the cryptocurrency you are trading will move towards. This assumes that everyone investing in the asset has already undertaken fundamental analysis of the asset and has factored this into their pricing of the asset.

    I’d recommend that anyone wanting to invest in cryptocurrency do thorough research into the technology and use case of the crypto that you’ll be investing in otherwise all you’re doing is **speculating** not **investing**. A litmus test to see whether you actually understand and have absorbed what you’ve read is to see if you are able to explain it to a layperson that has had little-to-no previous exposure to crypto.

    What OP has linked in terms of the [fundamentals of coin market cap](https://preview.redd.it/8m1769sject61.jpg?width=1615&format=pjpg&auto=webp&s=2d7e75d16b8da8b7b4cea70f13e7fef0991c2df2) touches on this very briefly, in comparison to the other common graph pattern and candle pattern charts linked but it’s importance cannot be understated.

  4. Folks looking forward to start trading, start small! It takes hundreds of trades to get the idea if you’re doing great or not, and don’t get greedy and double down or increase the amount you’re trading with without thinking a lot about it

  5. Are there any academic studies, especially in peer reviewed journals, that confirm those chart patterns are actually indicative of anything and not just astrology?

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