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Topic: Advice needed! Buying, trading, and selling on exchanges (Read 3214 times)

hero member
Activity: 756
Merit: 500
Maybe its just that the altcoin game doesn't suit you.

Or you could try trading some of the more stable altcoins with 2-5x leverage (well it allows up to 10:1).


Cryptomargin.com allows for the trading of alts, short and long with leverage.  You can also invest some of your alts and gain a decent daily interest.

Now you might also want to go mainstream and trade Bitcoins.  Bitcoins is the most liquid cryptocurrency.  And okcoin futures is the most liquid futures exchange.  We're looking at 100 million usd worth traded every day and sometimes even more on extra volatile days.  Futures is slightly different then spot so be sure to do your research.  Okcoin.com futures offers leverage up to 20x.  You can probably start trading with 0.02 btc.

And then there are binary options.  These can be quite a useful tool for making profit if you understand the bitcoin market.  I'd recommend using Coinut.com .  You can click the link in my signature.  What's interesting about coinut is that unlike other sites there is an order book to trade these binary options.  In my opinion this means you can get a much better deal and you'll get better odds.

You also get more flexibility.  There are multiple timeframes to choose from and there are multiple strike prices you can do.  (You bet on higher or lower than the strike price).  At other sites you can only use the current price for a strike price.  With coinut you can choose out of the money options for cheaper contracts or you can do in the money ones that you're sure about for 5-20% gain.  And as usual make sure you wait for good trade setups, you don't always need to be in a position.

I'm just outlining some other methods to make money through Bitcoin other than alts.  Bitcoin futures and Binary options might not be the tools for you but good luck on your endeavour in the crypto space.

You would really want to be sure you know what your doing, or practiced many times to do 10 to 1.

That just seems like a heck off a leveraged bet.   But I guess huge potential gains aswell.

Yeah well its mainly for short term trades and its useful for Dogecoin because it doesn't really move around a lot.
legendary
Activity: 1456
Merit: 1000
Maybe its just that the altcoin game doesn't suit you.

Or you could try trading some of the more stable altcoins with 2-5x leverage (well it allows up to 10:1).


Cryptomargin.com allows for the trading of alts, short and long with leverage.  You can also invest some of your alts and gain a decent daily interest.

Now you might also want to go mainstream and trade Bitcoins.  Bitcoins is the most liquid cryptocurrency.  And okcoin futures is the most liquid futures exchange.  We're looking at 100 million usd worth traded every day and sometimes even more on extra volatile days.  Futures is slightly different then spot so be sure to do your research.  Okcoin.com futures offers leverage up to 20x.  You can probably start trading with 0.02 btc.

And then there are binary options.  These can be quite a useful tool for making profit if you understand the bitcoin market.  I'd recommend using Coinut.com .  You can click the link in my signature.  What's interesting about coinut is that unlike other sites there is an order book to trade these binary options.  In my opinion this means you can get a much better deal and you'll get better odds.

You also get more flexibility.  There are multiple timeframes to choose from and there are multiple strike prices you can do.  (You bet on higher or lower than the strike price).  At other sites you can only use the current price for a strike price.  With coinut you can choose out of the money options for cheaper contracts or you can do in the money ones that you're sure about for 5-20% gain.  And as usual make sure you wait for good trade setups, you don't always need to be in a position.

I'm just outlining some other methods to make money through Bitcoin other than alts.  Bitcoin futures and Binary options might not be the tools for you but good luck on your endeavour in the crypto space.

You would really want to be sure you know what your doing, or practiced many times to do 10 to 1.

That just seems like a heck off a leveraged bet.   But I guess huge potential gains aswell.
hero member
Activity: 756
Merit: 500
Maybe its just that the altcoin game doesn't suit you.

Or you could try trading some of the more stable altcoins with 2-5x leverage (well it allows up to 10:1).

Cryptomargin.com allows for the trading of alts, short and long with leverage.  You can also invest some of your alts and gain a decent daily interest.

Now you might also want to go mainstream and trade Bitcoins.  Bitcoins is the most liquid cryptocurrency.  And okcoin futures is the most liquid futures exchange.  We're looking at 100 million usd worth traded every day and sometimes even more on extra volatile days.  Futures is slightly different then spot so be sure to do your research.  Okcoin.com futures offers leverage up to 20x.  You can probably start trading with 0.02 btc.

And then there are binary options.  These can be quite a useful tool for making profit if you understand the bitcoin market.  I'd recommend using Coinut.com .  You can click the link in my signature.  What's interesting about coinut is that unlike other sites there is an order book to trade these binary options.  In my opinion this means you can get a much better deal and you'll get better odds.

You also get more flexibility.  There are multiple timeframes to choose from and there are multiple strike prices you can do.  (You bet on higher or lower than the strike price).  At other sites you can only use the current price for a strike price.  With coinut you can choose out of the money options for cheaper contracts or you can do in the money ones that you're sure about for 5-20% gain.  And as usual make sure you wait for good trade setups, you don't always need to be in a position.

I'm just outlining some other methods to make money through Bitcoin other than alts.  Bitcoin futures and Binary options might not be the tools for you but good luck on your endeavour in the crypto space.
sr. member
Activity: 294
Merit: 250
I know I'm already breaking a couple of the trading world's cardinal rules here, so please bear with me  Grin

Here's my current situation:

  • 1.) Amassed $60 worth of BTC
  • 2.) Withdrew $50 into cold storage, kept $10/0.044BTC to play around and/or learn with (ie. lose, so as to not get my hopes up Wink)
  • 3.) Transferred my BTC to Poloniex, and figured I'd try learning the basics of exchanges/trading

I've spread my bits around into various coins.  Because I have no idea what I'm doing - and at the same time putting all my trust in you guys Shocked, I'll tell you what coins I've vested in.  My wealth is spread as such:

Code:
[ARCH] ARCHcoin 10.69400404 

[BTC] Bitcoin 0.00664344

[DOGE] Dogecoin 2603.47826087

[HUGE] BIGcoin 14520.12404124

[NMC] Namecoin 7.27706705

[NXT] NXT 222.94797859

[PPC] Peercoin 1.24685423

[SYS] Syscoin 538.00539083

[XMG] Magi 121.26715731

I've tried reading what various popular trading threads exist, yet usually leave the threads with as little knowledge as I had entered with (and sometimes embarrassed in myself, leaving threads like pumping dicks slathered in the self-praising semen from others getting off in such circle-jerks). 

I still failed at obtaining any useful info - buy low, sell high...but how do I know what low/high is? How should I be properly reading each coin's chart?  Should I be looking at their /all graphs, or judge when to buy/sell by the hour/day/week/month/year?  What's the importance of market cap vs price vs available supply vs volume, and how should I assess these factors when deciding whether or not to invest in an alt?


I realize this is a lot to be asking, but it's just so difficult to find the answers I'm looking for, without ending up in wikipedia pages for fiat currencies, or "THE ANSWERS ALL HERE, LINE PUMPY'S POCKETS FOR THE MEANING OF LIFE, I'M SO RICH I'LL PROVE IT WITH TUMBLR GIFs"-esqe garbage!

I highly appreciate any and all help, and will happily reward any descriptive advice with some changetip  Kiss Kiss

Cheers!

I completely don't have the stomach for trading.   Every time a coin dips below what I paid, I panic and sell.   I have tried trading on a few different occasions, but almost never have made money.   I need to learn a little patience I guess.
legendary
Activity: 1456
Merit: 1000
wolong said: "buy high, sell higher" and "sell low, buy lower"

If it was this easy yes it would be great.  But there is not someting that gives us a reference to know what is "high" and "low".  It is ever changing with btc.

I mean a few day's ago I don't think most saw we would jump to 245.  It was a nice jump.  But those selling then and trying to buy back now all lost money.
full member
Activity: 150
Merit: 100
wolong said: "buy high, sell higher" and "sell low, buy lower"

he must know.
His famous "book" to see here:
https://www.youtube.com/watch?v=JHi-wmRZzvs

For the noob: That wolong guy is a rich individual who pumped and dumped various coins in early 2014. I don't know if he made profit but he sure made enemies.


Some of these are good Altcoins you are betting upon , i myself have some treasure in them too.
But going with many alts at once is a bad idea. I usually keep up with 4 at a time and if i find some good new one , i leave one of the 4 behind.
So to minimize any loss and be able to provide enough time to them .

I've got a little money in a lot of them. So i am never bored because every day another one is on the rise. I'm good in guessing bottoms and holding the coins then until pump occures. So that strategy can work out too: just buy low and wait for someone to raise the price.
hero member
Activity: 617
Merit: 559
Do as much research as possible on your own before making the leap. Each exchange has its own set of virtues and faults and the best way to understand them is by taking the time to research their history.
sr. member
Activity: 336
Merit: 250
I know I'm already breaking a couple of the trading world's cardinal rules here, so please bear with me  Grin

Here's my current situation:

  • 1.) Amassed $60 worth of BTC
  • 2.) Withdrew $50 into cold storage, kept $10/0.044BTC to play around and/or learn with (ie. lose, so as to not get my hopes up Wink)
  • 3.) Transferred my BTC to Poloniex, and figured I'd try learning the basics of exchanges/trading

I've spread my bits around into various coins.  Because I have no idea what I'm doing - and at the same time putting all my trust in you guys Shocked, I'll tell you what coins I've vested in.  My wealth is spread as such:

Code:
[ARCH] ARCHcoin 10.69400404 

[BTC] Bitcoin 0.00664344

[DOGE] Dogecoin 2603.47826087

[HUGE] BIGcoin 14520.12404124

[NMC] Namecoin 7.27706705

[NXT] NXT 222.94797859

[PPC] Peercoin 1.24685423

[SYS] Syscoin 538.00539083

[XMG] Magi 121.26715731

I've tried reading what various popular trading threads exist, yet usually leave the threads with as little knowledge as I had entered with (and sometimes embarrassed in myself, leaving threads like pumping dicks slathered in the self-praising semen from others getting off in such circle-jerks). 

I still failed at obtaining any useful info - buy low, sell high...but how do I know what low/high is? How should I be properly reading each coin's chart?  Should I be looking at their /all graphs, or judge when to buy/sell by the hour/day/week/month/year?  What's the importance of market cap vs price vs available supply vs volume, and how should I assess these factors when deciding whether or not to invest in an alt?


I realize this is a lot to be asking, but it's just so difficult to find the answers I'm looking for, without ending up in wikipedia pages for fiat currencies, or "THE ANSWERS ALL HERE, LINE PUMPY'S POCKETS FOR THE MEANING OF LIFE, I'M SO RICH I'LL PROVE IT WITH TUMBLR GIFs"-esqe garbage!

I highly appreciate any and all help, and will happily reward any descriptive advice with some changetip  Kiss Kiss

Cheers!
just try to do this trading thing with only two or three cryptocurrency.as you are a newbie in trading so just keep an eve on the price when you will see any currency has fallen price just exchange your coins with it.and wait till it rise up a little and then convert it back to btc or the pricr can fall back again.note : trading can make huge losses
legendary
Activity: 3556
Merit: 9709
#1 VIP Crypto Casino
Trial & error my friend.
Don't trade (play with) money you can't afford to lose.
Study the price of each coin for a number of weeks/months, try to figure out what you, yourself see as a high or low price for each coin and act accordingly.
As far as bitcoin goes now is a good time to buy as I predict the price will go a lot higher.
You can probably double your money on bitcoin if you buy in now & hold for a bit until the price goes up.

As far as the other altcoins go sorry but I can't help you, I don't follow any of them.
legendary
Activity: 3472
Merit: 10611
Buy Low Sell High.

To know what's low and high you have to determine it yourself.
It's all about how you predict the market. if you think it's gonna be a strong day
then you can probably buy a below the 24 hr average in bulk and sell a bit lower than the highest ask.

That's what I used to do, got 30$ out of 12$ worth of alt coin back when NXT was inflating

The buy low sell high strategy is good...
But when it comes to inflation, if you are talking about the total amount of altcoins supply rather than the price of that coin in BTC, I would say that most of the times, inflation will only lead you to loss as I have seen many people made money in 10k and Balls, but many lost too thinking that the price might go up a lot, but it didn't as dumpers were ready just to f*ck off the markets wholeheartedly...

Buy low, sell high is not a strategy.

I would agree.  It is a ever changing market we don't have a high and low. 

If buy low sell high works we would all make a fortune....
buy low sell high is true if you have a magic ball which you can see the future in it, or somehow you are controlling the market. otherwise it is not possible to tell the low and high value especially in an altcoin scene
hero member
Activity: 938
Merit: 1000
Buy Low Sell High.

To know what's low and high you have to determine it yourself.
It's all about how you predict the market. if you think it's gonna be a strong day
then you can probably buy a below the 24 hr average in bulk and sell a bit lower than the highest ask.

That's what I used to do, got 30$ out of 12$ worth of alt coin back when NXT was inflating

The buy low sell high strategy is good...
But when it comes to inflation, if you are talking about the total amount of altcoins supply rather than the price of that coin in BTC, I would say that most of the times, inflation will only lead you to loss as I have seen many people made money in 10k and Balls, but many lost too thinking that the price might go up a lot, but it didn't as dumpers were ready just to f*ck off the markets wholeheartedly...

Buy low, sell high is not a strategy.
it's the law of trading. if you want profit then buy low sell high, that was absolute
in trading altcoin if you believe coin have a future, then hold. if it just PnD coin then dump. that my stategy
legendary
Activity: 1456
Merit: 1000
Buy Low Sell High.

To know what's low and high you have to determine it yourself.
It's all about how you predict the market. if you think it's gonna be a strong day
then you can probably buy a below the 24 hr average in bulk and sell a bit lower than the highest ask.

That's what I used to do, got 30$ out of 12$ worth of alt coin back when NXT was inflating

The buy low sell high strategy is good...
But when it comes to inflation, if you are talking about the total amount of altcoins supply rather than the price of that coin in BTC, I would say that most of the times, inflation will only lead you to loss as I have seen many people made money in 10k and Balls, but many lost too thinking that the price might go up a lot, but it didn't as dumpers were ready just to f*ck off the markets wholeheartedly...

Buy low, sell high is not a strategy.

I would agree.  It is a ever changing market we don't have a high and low. 

If buy low sell high works we would all make a fortune....
legendary
Activity: 4438
Merit: 3387
Buy Low Sell High.

To know what's low and high you have to determine it yourself.
It's all about how you predict the market. if you think it's gonna be a strong day
then you can probably buy a below the 24 hr average in bulk and sell a bit lower than the highest ask.

That's what I used to do, got 30$ out of 12$ worth of alt coin back when NXT was inflating

The buy low sell high strategy is good...
But when it comes to inflation, if you are talking about the total amount of altcoins supply rather than the price of that coin in BTC, I would say that most of the times, inflation will only lead you to loss as I have seen many people made money in 10k and Balls, but many lost too thinking that the price might go up a lot, but it didn't as dumpers were ready just to f*ck off the markets wholeheartedly...

Buy low, sell high is not a strategy.
legendary
Activity: 1246
Merit: 1000
!!! RiSe aBovE ThE StoRm !!!
Buy Low Sell High.

To know what's low and high you have to determine it yourself.
It's all about how you predict the market. if you think it's gonna be a strong day
then you can probably buy a below the 24 hr average in bulk and sell a bit lower than the highest ask.

That's what I used to do, got 30$ out of 12$ worth of alt coin back when NXT was inflating

The buy low sell high strategy is good...
But when it comes to inflation, if you are talking about the total amount of altcoins supply rather than the price of that coin in BTC, I would say that most of the times, inflation will only lead you to loss as I have seen many people made money in 10k and Balls, but many lost too thinking that the price might go up a lot, but it didn't as dumpers were ready just to f*ck off the markets wholeheartedly...
legendary
Activity: 3472
Merit: 10611
Quote
1) I've spread my bits around into various coins. 
2) Because I have no idea what I'm doing -
3) and at the same time putting all my trust in you guys
these are your 3 biggest mistakes.
1) first one is actually a good idea to spread your money to reduce the risk of losing it in one place but only if you know where to put it.
2) try to read the altcoin section, topics about trading and stuff like that and then watch the market. it is not that hard to learn how it works
3) never trust what other people are telling you to buy or sell. it is not 100% but most of the time they are either wrong or lying or trolling.
sr. member
Activity: 266
Merit: 250
support.
Well,if you create a new thread, let me know! All this info is blowing my mind right now, so I'm still processing and practicing everything being said here.

Please continue...thanks again for all the advice, guys Wink

I believe it is really hard stuff for someone who is new into trading. And it is lot of information too. Enough to write books about this all... But i think, practicing is the best way for learning and to find out how things work.

Maybe you saw today some arbitrage opportunity between different exchanges with DOGE/BTC. DOGE is in down trend! Today it went faster down than the last days.
For example, i saw a difference between CRYPTOPIA and CRYPTSY. So i sold my DOGE on CRYPTOPIA and brought them back at the same time on CRYPTSY, 1 satoshi cheaper.
This way i have done a 2-way-arbitrage without processing a transaction between each arbitrage step.
Only after completion i sent some DOGE back to CRAPTOPIA.
Now someone maybe means, only one satoshi, this is like nothing. Yeah right, it is only a smal profit, but now i have some more BTC on balance on CRYPTOPIA. (and further, i need BTC there for other trades)
With such kind of trade i can move BTC form one to another exchange faster and cheaper than sending them. CRYPTSY has a really high transactions fees in comparison to other exchanges. Sending DOGE and other coins doesn't cost that much.

hero member
Activity: 714
Merit: 500
Well,if you create a new thread, let me know! All this info is blowing my mind right now, so I'm still processing and practicing everything being said here.

Please continue...thanks again for all the advice, guys Wink
sr. member
Activity: 266
Merit: 250
support.
The only way to make money trading to know more about the thing you are trading than the people you are trading with. If you trade based on charts or speculation or rumor, you are going to lose to the people that actually know what's going on.

Don't believe most of what other people say. They know a lot less than they think they know.

Don't get suckered by people selling stuff books and bots and get-rich-quick schemes. There is no successful trading strategy. Successful trading is opportunistic -- you see an opportunity and you take it.

Finally, don't fall for the pump-and-dump scams. If you aren't the one doing the pumping, then you must be the victim.


Could you elaborate a bit on the whole pump-and-dump 'process'?  Is this what people in the 'pumpers picks' thread got suckered into doing?  It feels like that whole thread is one guy taking advantage of everyone else there...

Pump and dump (which is illegal in regulated markets) means a product is hyped up after it was silently bought up (normally with microbuys or any other covert method of accumulation by a whale. If you are good at looking at the markets you can spot these activities (that strategy is called "whale watching"). If you are a good whale watcher and manage to get in before the pump you have the edge. But most people chase pumps and they loose. People see price rocket and listen to the hype and they buy into rising markets. Often times the coin dumps on them and they ended up buying high. So if you chase pumps look for fast enter and very fast exit again. Better to be whale watching and try to get in on ground level. The whales speculate on people chasing the pumps and the pump chasers are normally the ones loosing out.

The pumper picks thread is bullshit of course. Never follow any investement advice because the people giving that advice a) do something illigal in issuing that advice and b) do it for personal gains. The one giving investement advice normally just advertises what he just bought so he actually wants to sell to you. Never join pump groups and especially not for entry fee. It's 99,9% scams. The way to make money in the markets is to go solo and improve on your own skills. Don't ever rely on other people. Learn from your mistakes. When you loose money: ask yourself why and try to identify the mistake and try to never do that mistake again. This is also the way chessplayers improve their game.

Generally: don't buy into coins which are already up by 60%+ in short time. Best is to be in early or stay out entirely.

Protip:
It's time to buy, when really everyone is butthurt and it's time to sell when everyone is euphoric. When people cry "to the moon" a lot it's time to sell  Wink


this should become a separate topic, it is a lot to say about chart reading.
also this is a separate way of trading, much more speculative as arbitrage only. arbitrage is a more calculation.
but with a pumped or dumped market is arbitrage to different markets/exchanges very good possible and high profitable!

but the important point is the own knowledge!
you say this already: never trust someone if he say it is time to buy or sell. ( mostly never Wink )
sr. member
Activity: 266
Merit: 250
support.
Arbitrage never in a down market. In a bullmarket arbitrage can make a couple of extra bucks if everything works out in a timely manner (no problems with wallets at the exchanges). In a down market it can easily happen that while your coins transfer from one exchange to the other price goes down and you actuallly lost money on it. So arbitrage is best in uptrend.
Generally there isn't a lot money in arbitrage, only on rare occasions one can find profitable opportunities.
One also needs to take withdrawal fees into account.

Arbitrageurs will like this page: http://www.cryptocoincharts.info/arbitrage


btw: coin competition is running. One can practice with play money trading btc. The winner is determined once in a month and can win 5 btc

https://www.coincompetition.com

Also good to practice trading.

nice to see someone with experience.
but i can not agree fully in every point!

the direction in which a market moves should be regardless for a arbitrage.
but you can get a problem if you have to transfer coins, right! only in such a case can a fast down trend be the problem.
but if you know that you have a down trend you can place a buy order wich get filled in future...(in case of a down trend)

and further, not for every arbitrage you need to transfer coins from exchange A to exchange B. the best case is you have on both exchanges the same coins. you sent them to a other exchange only to hold equal account balances (but i recommend this for base currencies only)

and especially a 3-way-arbitrage can be really profitable in a downtrend! (but in a up tend in the same way) but i didn't know a website which is showing such a opportunity. also here you have to place that get filled in future.

maybe tomorrow or the next days i write more about this...

and for the newbies:
up tend is called also: bull market
downtrend is a: bear market

Wink

 
member
Activity: 212
Merit: 22
Amazix
The only way to make money trading to know more about the thing you are trading than the people you are trading with. If you trade based on charts or speculation or rumor, you are going to lose to the people that actually know what's going on.

Don't believe most of what other people say. They know a lot less than they think they know.

Don't get suckered by people selling stuff books and bots and get-rich-quick schemes. There is no successful trading strategy. Successful trading is opportunistic -- you see an opportunity and you take it.

Finally, don't fall for the pump-and-dump scams. If you aren't the one doing the pumping, then you must be the victim.


Could you elaborate a bit on the whole pump-and-dump 'process'?  Is this what people in the 'pumpers picks' thread got suckered into doing?  It feels like that whole thread is one guy taking advantage of everyone else there...

Pump and dump (which is illegal in regulated markets) means a product is hyped up after it was silently bought up (normally with microbuys or any other covert method of accumulation by a whale. If you are good at looking at the markets you can spot these activities (that strategy is called "whale watching"). If you are a good whale watcher and manage to get in before the pump you have the edge. But most people chase pumps and they loose. People see price rocket and listen to the hype and they buy into rising markets. Often times the coin dumps on them and they ended up buying high. So if you chase pumps look for fast enter and very fast exit again. Better to be whale watching and try to get in on ground level. The whales speculate on people chasing the pumps and the pump chasers are normally the ones loosing out.

The pumper picks thread is bullshit of course. Never follow any investement advice because the people giving that advice a) do something illigal in issuing that advice and b) do it for personal gains. The one giving investement advice normally just advertises what he just bought so he actually wants to sell to you. Never join pump groups and especially not for entry fee. It's 99,9% scams. The way to make money in the markets is to go solo and improve on your own skills. Don't ever rely on other people. Learn from your mistakes. When you loose money: ask yourself why and try to identify the mistake and try to never do that mistake again. This is also the way chessplayers improve their game.

Generally: don't buy into coins which are already up by 60%+ in short time. Best is to be in early or stay out entirely.

Protip:
It's time to buy, when really everyone is butthurt and it's time to sell when everyone is euphoric. When people cry "to the moon" a lot it's time to sell  Wink
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