Hello and welcome to Gainium! If you’re new here, you’ve probably already sensed the importance we place in the community. To get you started on the right foot, this “Start Here” post will guide you through the essentials of trading and how to make the most of the resources available here.
1. Learning Resources
- Gainium YouTube Channel: Here, you’ll find tutorials, strategy explanations, and tips to accelerate your learning process.
- Gainium Academy: Our comprehensive learning center offers articles that cover everything from the basics to more advanced trading techniques.
- This community: This is the best place to ask questions, share your experience, and learn from others.
2. Practice Makes Perfect
Before you dive into automated trading bots and complex strategies, it’s crucial to grasp the fundamental concepts of trading practices. And the best way to do that is by backtesting and paper trading. We have spent a lot of time perfecting these tools, and they are offered free of charge to everybody. When you start trading, you will make mistakes, lots of them, so why not make full use of these tools?
3. When asking questions, provide background
When you reach out to the community with queries, Be Specific About Your Trading Goals and Context:
- Experience level, or how long have you been trading crypto.
- Risk tolerance: The risk tolerance of a 25-year-old testing degen strategies with play money is not the same as that of a soon-to-be-retired 58-year-old looking to grow their retirement funds.
- Preferred strategies: Grid, DCA, Combo.
- Time frame for trading: Are you ok holding your investment for months or years?
- Types of coins you’re interested in: Top cap, low cap, high volatility, specific utility tokens, specific projects you like
- Technical analysis skills
- How much you plan to invest: Some strategies are suitable for a small account, and others are not.
Tailoring your questions in this way helps others provide you with the most relevant and practical advice.
Example of a bad question:
What bots are working good right now?
Examples of better questions:
I recently started venturing into trading bots. I am a 55 years old guy from the Nederlands. I have a nest eggs of savings, and I plan to use a few thousand dollars for trading. I am interested in trading or holding top coins like BTC and ETH, as well as some popular ones like SOL. So far I like grid bots (combo look nice, but I still don’t understand them very well). I’m trying to set up my first live grid for BTC and I was wondering:
- Any tips on how to distribute the budgets if I were to make say 5 grids in different coins?
- Specifically for a BTC grid bot, any recommendations to set the upper and lower boundaries?
- What do you do if the price exits the lower grid? Make a new grid? Edit the current grid? Wait it out?
4. Patience and Consistency Are Key
The Gainium community is diverse, with traders from all walks of life sharing their experiences and insights. The more you engage, the quicker you’ll learn. Participate in discussions, share your experiences, and absorb as much knowledge as possible. Like any skill, trading takes time to master. Stay consistent, keep learning, and adjust your strategies as you grow. Success in trading doesn’t happen overnight, but with dedication, it’s well within your reach.
Remember, the journey to trading proficiency is continuous, and every trader was once a beginner. Embrace the process, keep learning, and maximize the community and resources at your disposal.
Welcome aboard, and happy trading!