Blog: Tips & Tricks

Beginner’s guide to get under Palma

Only You decide if you want to be a Sheep or a Shepherd. Sheep’s get sheared. (GB on inactivity of managing personal assets)


When / why do I need this?

My team was talking to many beginners lately and we decided to put out some content that will besides our “How to start guide” give you some additional directions and share experiences from your colleagues. Mainly our target was to answer most common questions from our users-beginners that pointed out that the major obstacle was to get used to notifications, manage their time appropriately and set signals with the right threshold. With this in mind it all came down to these 3 basic questions:

  1. Which combination coin-market-exchange should I begin with?
  2. What should be my every day practice?
  3. What are major obstacles in the beginning?


How to?

  1. Choose your coin…
    • For the beginning it is the best to choose one of the blue chips (well established coin) as they all have enough volatility for the beginning.
    • They are well established and the risk of crash is very small.
    • They can be traded on most of the exchanges.
    • Setup signal with 1% threshold.
  2. Every day you should…
    • Check news every morning and every evening.
    • Check signal notifications as they come and try to decide what you would do if you would be doing it for real: buy, sell or nothing.
    • Check different ranges for graphs (1h – one hour, 4h – four hours, 1D – 1 day, 1W – 1 week).
  3. Major obstacles…
    • Getting used to the workflow.
    • But not just clicking the signal based workflow within me, especially getting used to getting signal notifications among other notifications and
    • being able to react as it happens – drop other work – or to be peacefully confident and without FOMO even that you know that it is happening.
    • So it it actually about building your persona, your longevity in sense of trusting yourself and making yourself more stable in sense of emotions and actions.
    • Usually it takes 2 to 3 weeks of mess while trying to figure our what just happened and trying to remember what was the last thing you saw. But the practice comes back with a swift responses, clear mind and quick decision making. A great training for your brain.

Enjoy and stay focused on your improvement!



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