To learn trading on cryptocurrency platforms effectively, follow this practical plan:
1. Choose the right platform for beginners:
- Binance or Coinbase: Easy interfaces, built-in lessons (especially Binance Academy).
- Kucoin or Bybit: for advanced features later.
- Tip: Start with a demo account first.
2. Practical steps for trading:
| Step | How to execute it
• Opening the account
Registration + Verification (KYC) + Activate 2FA (Two-Factor Authentication).
• Deposit funds
Transfer currencies like USDT through networks (ERC-20, TRC-20) - choose the lowest fees.
• Understanding the interface
Explore sections: Market, Wallet, Trade.
• Making the first trade
Start by buying small amounts of stable coins (like USDT) for practice. 3. Basic tools on platforms to master:
• Chart:
- Candlesticks.
- Indicators: RSI (identifying oversold/overbought), MACD (tracking trends).
• Types of orders:
- Market: Instant execution at the current price.
- Limit: Set a predetermined price for buying/selling.
- Stop-Loss: Automatically close the trade at a specified loss limit.
4. Use free resources within the platforms:
- Binance Academy: Arabic explanations (Videos + Articles).
- TradingView on platforms: Analyze charts live.
- Support forums: Binance community (for example) to answer questions.
5. Tips to protect your money:
- Don’t invest more than you can afford to lose: Start with small amounts.
- Stop-Loss is mandatory: protects you from sudden crashes.
- Storing coins: Transfer them to an external wallet (like Ledger) if substantial.
- Avoid leverage for beginners: it multiplies risks.
6. Practical training (most important!):
- Open a Demo account on Binance Futures or TradingView.
- Try strategies with no real risk.
- Analyze 3 trades daily: Why did you win/loss?
7. External educational resources:
- YouTube: "Coin Bureau" channel (English), "Mohamed Shaaban" (Arabic).
- Books: "Trading in the Zone" by Mark Douglas (Psychology).
- Communities: Reddit (r/CryptoCurrency), Binance Arabic forum.
Final Warning ❗:
> "The market feeds on the impulsive! 95% of beginners lose due to:
> - Emotional trading.
> - Ignoring risk management.
> - Chasing rumors."
Start with a written trading plan that defines:
1. Investment amount (fixed).
2. Risk percentage in the trade (no more than 2% of capital).
3. Profit/Loss targets before entering the trade.
4. Time allocated for analysis daily.
Proper learning requires 3-6 months of conscious practice. Don't rush the profit, focus on avoiding losses first! 💡