1) Start small. If you make 20 000 USD a year start with 200 USD. If you make 10 000 USD start with 50 USD.
2)When you put in your first 200 USD before you put in a dollar more you put 200 USD back on your account and then continue with your gains alone. If you can't do this then trading is not for you. STOP. Now let's say that 200 USD turn in to 250 USD. You put 200 USD back on your account. Now you continue with that 50. The 50 goes to 25. You take 100 USD out of your account. Before you put it anymore at least a 100 needs to go back. Every single time. This will minimize your risk to the lowest. Only cash out through either Coinbase, Gemini, Kraken or Bitstamp. No other exchanges. Get local contacts you know personally that will trade for cash face to face or online contacts you can trust that will trade for e-transfer or whatever that is called in your country. Use these for under small stuff like 100 - 300 USD at time. Use those 4 other exchanges for the rest. If you can not find decent reliable fiat in and and out gates then don't trade. Try every gate in both directions first. Never assume a gate exists, try it first with small stuff.
3) Don't sell when the price goes down, don't buy when the price goes up. Sell when it goes up, buy when it goes down. This stops working when to many people follow it. But people panic so they sell when it goes down. And they fomo when it goes up so they buy. This dynamic will never change. It exist on every single market. If there is a market of 3 people, one is the panic and fomo guy.
4) You can only make money on a market where you have more information than 51% of the other participants.
5) Find markets that are your size. If you are a small trader, find a small market. If you are midsize, find a midsize market.
6) Try out an exchange, if it's cheating you will find out soon enough. Don't trade on exchanges like Bitfinex that bet against you with the power to move the market against you. There is no winning there. Only illusion. In a regulated casino the house wins 101 games against you where you win 100 games against the house. On a exchange like Bitfinex even a small trader like me can not make any money whatsoever. Flip coins on some trades. Do 20 small trades on coin flips. If you lose on all 20 or on 19 don't trade on that exchange.
7) Have patience for what is promososing. Don't trade that what is bullshit. Don't touch bullshit. If there is nothing but vapor, simply stay away from it. Have some long term stuff, park it in cold storage and try to forget it is there. And have some short term stuff. Park in stablecoin (DAI is prefered but badly accessible) every day when done trading. Don't worry about missing BCH gains while you sleep. We want to trade up slowly but constant and with rhythm and grace. (use Tether if you must but never keep over a 1000 in Tether, Tether will go to zero one day. It will be one when you went to bed and 0.10 when you wake up and never go back over 0.5 forever, it will tail for years or until the platforms it runs on die. Except for omni and tron which are centralised, you might have to run those nodes yourself eventually)
So far my trading tips. This is financial advice. Use it wisely. Don't ever be greedy. You MUST cash out your principal. Cash out your winnings when you can, only trade with your gains. Put some BCH in to cold storage and once in a while deposit something on to your cold storage long term personal high gain savings account. Get to 21 BCH and then invite your friends and family and throw a small party. Don't give em any, don't sell em anything either. Just party. Don't even have to tell em about BCH, just put it on the cake or something. Or adopt a dog and name him bcash. Throw a party for the dog.
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source https://www.reddit.com/r/btc/comments/elow8u/kain_niaks_trading_advice/
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