Newbie trading question

[Candystore]

I have a Luno wallet, opened last year just to get involved and more knowledgable with/about crypto. So I am no expert, just someone who are open to change. So I own a portion of a portion of a Bitcoin.

Can someone recommend an autotrader website for me to get involved in small trading, in order to explore that field too? I need something safe to introduce me to this.

Thanks

 

[IOPS]

What's an autotrader? Are you referring to bots?
Why not just trade on Luno to start out or explore proper exchanges like Poloniex or Binance?

 

[Candystore]

What's an autotrader? Are you referring to bots?
Why not just trade on Luno to start out or explore proper exchanges like Poloniex or Binance?

Do people mean robot or computer when they refer to bot?

Allow me to be the voice of warning.

Trading is hard. There are pros out there just waiting to take the inexperienced people's money, especially in this unregulated market. It's often best just to keep your money on Luno and forget about it to see highest returns. I wish I did.

So this is basically akin to investing in shares?

 

[SaiyanZ]

If you just want to trade cyrpto it's probably best done on an international exchange. The Luno price also fluctuates due to Rand/Dollar movements and if it moves against your trade you could still lose even if the BTC dollar price does what you expect. This week for example most of the movement on Luno has been due to the rand going down to R14.00 and then back to R14.60 today.

 

[IOPS]

Do people mean robot or computer when they refer to bot?

So this is basically akin to investing in shares?

If you're asking these kind of questions it's best to stay away. I really don't mean to come across as being a dick, but it sounds like you're about to lose your money.

If trading was easy, or everyone could put their BTC into an automatic trading bot everyone would be rich.

 

[Candystore]

If you're asking these kind of questions it's best to stay away. I really don't mean to come across as being a dick, but it sounds like you're about to lose your money.

If trading was easy, or everyone could put their BTC into an automatic trading bot everyone would be rich.

You are rude, but yes, that is why I ask the question, to be guided in the right direction.

 

[mrichard]

I made money trading on luno, but at the moment the volumes are way to low and the prices are moving too slow for short term trades. During the hype time in Dec/Jan I made up to 50% in 2 days, now its a very choppy place to trade. You can look at trading USDT pairs on Binance if you want to trade. But yeah it will take you at least six months of studying and practice to understand what you are doing, and why you are entering and exiting trades, let alone making money off trading.

 

[BitcoinZAR]

If you dont know what you are doing, I would suggest you just keep your bitcoin. If you hand your bitcoin over to some 'autotrader' sites, you will most likely lose it.

 

[Swa]

If by autotrader you mean a site or software that promises a return then forget it. The rule is always if there was such a thing they'd be using it themselves instead of selling it or a service to make money, you will lose.

If you mean a bot (which is just a script with parameters when to buy and sell) then first you have to learn to trade manually. My advice is to put in R100 bucks and expect to lose it. Learn how the system and trading works and only put in more if you're comfortable.