Beginner checklist: How to start and not go broke

You want to trade crypto. Good. But rush is the enemy of profit. Here's the one-month plan.

Week 0: Preparation (before investing)

Step 1: Choose exchange

AI Traders supports:

• Binance (most popular, most tools)
• ByBit (good for margin, futures)
• Kraken (safe, but smaller volumes)

For beginners: Pick Binance. Most info and tools.

Step 2: Register and verify

1. Create account on Binance
2. Pass KYC (identity verification)
3. Enable 2FA (two-factor auth) — MANDATORY
4. Verify 2FA is on (check settings)

Step 3: Learn AI Traders (2 hours)

• Read docs.ai-traders.com
• Watch YouTube tutorials on platform
• Understand paper trading and bots
• Don't rush to real money

Week 1: Paper trading (virtual money)

Step 4: Use paper trading, disable real account

AI Traders gives $10,000 virtual. Train here.

10 trades on BTC/USDT:

1. Open BTC chart (1-hour)
2. Watch RSI (overbought/oversold indicator)
3. When RSI < 30, open LONG (buy)
4. When RSI > 70, close
5. Log every trade (date, entry, exit, profit)

Goal: Learn the mechanics.

Step 5: Learn one strategy only

Pick one:

• DCA (safest—regular purchases)
• Grid (medium—sideways trading)
• RSI scalping (risky—daily indicators)

Study only one this week. Don't mix.

Week 2-3: More paper trading

Step 6: 50 trades on your chosen strategy

Trade daily, 5 trades each day:

• Record every result
• Track statistics (win rate)
• See patterns

Success targets:

• Win rate ≥ 45% (3 wins per 7 trades)
• Average profit positive per trade
• Calm at losses (don't panic)

Step 7: Study risk management

Read one article: "Risk Management: 5 Rules." Memorize:

• Never risk > 2% per trade
• Use stop-loss and take-profit
• Don't average down
• Risk/reward ≥ 1:2
• Stop at -5% daily loss

Week 4: Switch to real money (SMALL)

Step 8: Create API key on Binance

Remember security rules:

1. Limited rights (ONLY spot trading, NO margin, NO withdrawals)
2. IP restrictions (your IP only)
3. Expiration (90 days)

Step 9: Deposit small amount

Start with sum you can afford to lose:

Recommendations:

• Month 1: $500-1,000
• Winning? Add $500 more
• Losing > 10% monthly? Stop, rethink, practice paper trading more

Step 10: Use bots, not manual trading

On real money, use bots:

• DCA-bot — safest (auto daily buys)
• Grid-bot — medium (sideways)
• Manual — only if >3 months experience

Why bots? No emotion. They stick to plan.

Month 1-3: Results and next steps

Step 11: Analyze results

After month:

• Profit or loss?
• Which strategy worked?
• When did you lose? (uptrend, sideways, panic?)
• Need to change approach?

Step 12: Scale carefully

If profit:

• Add $500-1,000 more
• Don't increase position size, create new bots

If loss > 5%:

• Stop
• Redo plan
• Paper trading 2 weeks
• Try again

Red flags: When to stop

🚩 You trade emotionally (enter in hurry) 🚩 No stop-loss (hope miracle) 🚩 Increase after wins (greed) 🚩 Average down losses (martingale trap) 🚩 Trade at night for fun (boredom trading) 🚩 Lost > 10% daily (broke risk rules)

If any apply—stop immediately. This means you're not ready.

Useful resources

• AI Traders docs — platform guides
• TradingView — charts and indicators
• YouTube — strategy education
• AI Traders community (Discord/Telegram) — help from traders

Final checklist before first trade

• ✓ 50 paper trades completed
• ✓ Know stop-loss and take-profit
• ✓ Never risk > 2% per trade
• ✓ API key with right permissions
• ✓ 2FA enabled
• ✓ Using bots, not manual
• ✓ Ready to lose first money (it's tuition)

Remember

Crypto trading is a marathon, not sprint.

You won't make $1M in month. But with discipline and risk management, you can double capital in year.

Month 1 = tuition cost (mistakes will happen). Month 2 = foundation building. Month 3+ = you start seeing results.

Good luck on your path to financial independence!