As a Token Analyst, what type of coins do you trade the most? - page 3.

OcTradism

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Quote from: VicManton on July 22, 2024, 11:30:30 AM

I think grouping tokens based on the niche they belong can answer the question "what coin should I trade at the particular moment in time" as it helps to filter the noise and know where the entire market is focusing on. How do you do yours?

When you trade, trading volume, available liquidity are most important to consider. Because if you only can enter but can not exit or get big loss by price slippage as consequence of low trading volume, low liquidity, it's not your job to start trading at all.

After see good trading volume, liquidity, it's time for you to look at a more important factor, fundamentals of that project. With good fundamental projects, if you trade wrongly, you still won't lose all your money.

A most safest cryptocurrency for trading is not any token, but Bitcoin. Highest trading volume, longest survival time so far, no rug pull.

Tokens? They are very risky and I don't recommend people to focus on trading with tokens.

GreatArkansas

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Quote from: VicManton on July 22, 2024, 11:30:30 AM

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I try my best to sometimes change my style of trading to focus on token niche sometimes and regroup to look for what works per season.

I'm always going with high trading volume, like the 24H trading volume or weekly volume.
So, even if the market cap is high, sometimes trading volume is low or high.

It seems you are fan of the "category" of altcoins you want to trade where like memecoins or defi tokens, layer-2 tokens, etc.

Dzwaafu11

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Quote from: VicManton on July 22, 2024, 11:30:30 AM

I think grouping tokens based on the niche they belong can answer the question "what coin should I trade at the particular moment in time" as it helps to filter the noise and know where the entire market is focusing on. How do you do yours?

Professional traders don’t depend on one coin in the market. As a trader, all you need to know is how the market works or how the coin you want to trade on at that time moves in the market. But if you depend on a specific coin that you will be trading all the time, you are going to be at a loss all the time.

As a trader who really wants to make money out of trading, you need to study many coins and know how the market moves so that anytime you enter the market, you will know the steps to take and make your money, so don’t depend on a coin. I can see that you still want to learn because the way you ask the question suggests you still want to know more about trading in general, so go and learn before entering the market.

Ndabagi01

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Quote from: VicManton on July 22, 2024, 11:30:30 AM

I think grouping tokens based on the niche they belong can answer the question "what coin should I trade at the particular moment in time" as it helps to filter the noise and know where the entire market is focusing on. How do you do yours?

If you think like this you are really not a trader and I don’t even know which category I’ll classify you in. Traders look for opportunities from any coin in the market, they don’t depend on one coin base on niche, preference, project team or any other thing, all they want is how to take advantage of that coin when going up or coming down to make the profit out of it. Every coin has its ups and down, for you make the best out of them is how you understand the movement of the market and how you strategize yourself to always be at the winning end of the market no matter the direction it take. Understanding fundamental and technical analysis of the market will help a lot.

EL MOHA

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Quote from: SamReomo on July 22, 2024, 04:00:11 PM

Choose Bitcoin and other top altcoins for trading and trust me those will work in each season. I know sometimes people make much money by investing in meme coins but it's not worth it if you're a good trader.

I suggest you to trade Bitcoin, Ethereum, BNB, LTC, SOL, TON, and a few more coins that have performed well in past and might perform good in future. If you want to trade meme coins then trade Doge as that's much better than those newer meme coins.

I wouldn’t even refer to anything related to memecoins as investing rather will leave it as staking, because investing is actually those coins that you can hold for a very long term, yes there are memecoins that one can hodl for a long term but they are very risky in fact the best way to trade them is by not staying too long on them except one might have booked profits already. If you look at memecoins like Dogecoin, Pepe, Bonk and other top coins one can easily see how huge they have dumped over the year which signifies the risk in holding them.

Just as you pointed it is best to invest in bitcoin and risk on top Altcoins if you wish to through that lane. As for memecoins it is best to treat as the way we trade futures or derivatives because 95% of them rugs and that’s why the most risky trader is the degen trader

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Quote from: VicManton on July 22, 2024, 11:30:30 AM

I try my best to sometimes change my style of trading to focus on token niche sometimes and regroup to look for what works per season.

Choose Bitcoin and other top altcoins for trading and trust me those will work in each season. I know sometimes people make much money by investing in meme coins but it's not worth it if you're a good trader.

I suggest you to trade Bitcoin, Ethereum, BNB, LTC, SOL, TON, and a few more coins that have performed well in past and might perform good in future. If you want to trade meme coins then trade Doge as that's much better than those newer meme coins.

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Quote from: boyptc on July 22, 2024, 02:03:16 PM

That makes sense if you're someone don't want to miss the trend. Everyone saw that trend in the SOL network where most of its airdrops and memecoins have pumped a lot.

I have no idea right now but it seems that it has stabilized a bit but maybe sooner or later, they'll be moving a lot again.

Right now, it's more with Bitcoin as that's reacting to the political matters in the US. Just pair your trades with BTC and I guess that you won't have to think a lot for what you should trade.

Trends like those are ephemeral, and if a person is not ready to take advantage of it immediately then chances are that they are too late already, so chasing the next hype is often a useless pursuit for the majority of the traders out there, which will do way better by going back to the basics, which is to use a solid strategy based on TA, and pick good assets that will do well in a consistent basis over assets that only do well during a short period of time.

boyptc

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That makes sense if you're someone don't want to miss the trend. Everyone saw that trend in the SOL network where most of its airdrops and memecoins have pumped a lot.

I have no idea right now but it seems that it has stabilized a bit but maybe sooner or later, they'll be moving a lot again.

Right now, it's more with Bitcoin as that's reacting to the political matters in the US. Just pair your trades with BTC and I guess that you won't have to think a lot for what you should trade.

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Quote from: VicManton on July 22, 2024, 11:30:30 AM

I think grouping tokens based on the niche they belong can answer the question "what coin should I trade at the particular moment in time" as it helps to filter the noise and know where the entire market is focusing on. How do you do yours?

Trading is different from from holding. You can research and trade any coins of your choice. Only holders are thinking of a coin to rise in price. Traders think of both increase and decrease and use it to trade. Trader can earn in both directions.

VicManton

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I try my best to sometimes change my style of trading to focus on token niche sometimes and regroup to look for what works per season.

Memecoins are a form of token and you can further regroup them into BSC, ETH or Solana Tokens based on their build.

If we have been paying attention recently, in the world of meme, Sol memecoins have been surging and in other context, exchange tokens too aren't left out for the scope, surprisingly $68B which is 3.2% of the entire crypto market is held by them. Token insight has given us an insight of the tokens that did well, which $BGB and $MX.

I think grouping tokens based on the niche they belong can answer the question "what coin should I trade at the particular moment in time" as it helps to filter the noise and know where the entire market is focusing on. How do you do yours?

Source; https://www.google.com/amp/s/tokeninsight.com/en/research/reports/crypto-exchange-report-q2-2024%3foutputType=amp

Topic: As a Token Analyst, what type of coins do you trade the most? - page 3. (Read 549 times)