Topic: Best Strategies for Trading. - page 4. (Read 1261 times)

To be honest there’s no strategy that works the second time. It all depends on market’s nature. If you follow up a specific trading pattern for multiple times, then definitely you will end of making losses. Rather you should always analyse the market and observe the curves of the coin. Once you feel confident take calculate risk and trade. In this way there are more chances that you make good profit and don’t lose more often.

Every trader has their own strategies and the usage depends on its effectiveness on their personal journey in trading. As for me, the best strategy is simply having the right mindset and proper management of our emotions.
Trading is a roller coaster ride and it's very challenging to deal with the volatility of the market but if we'll know how to handle our emotions, we will be able to make right decisions which would help in the success of our trading result. We can create our own strategy or even copy the common strategies that professionals use as long as we know the fundamentals of trading.

This is the common criticism of skeptics.

But let's say you could make 3% a month—definitely profitable trading. Then you need to set aside, say, 1/3 of that for taxes, so it's really only 2% a month. And then, you should pay yourself. Take some of the profits and improve your lifestyle. Maybe also invest in some tools, education, memberships, subscriptions, etc. Let's allocate 20% for that. What's left, let's figure compounding it monthly.

And then let's start with $10,000, even—not where most crypto traders are starting, for sure.

You know how long it takes you to accumulate $1M?

27 years

That's how long it takes to become a millionaire, starting with $10K, attainable profits (that are still way better than the stock market), taxes, expenses, etc.

Now, let's start with $1,000 instead, only 25% for taxes, and don't pay yourself—roll everything back in, and compound weekly.

It's still 25.5 years.

So no, most crypto traders wouldn't be millionaires by now, even if they're consistently profitable. People are only going to become millionaires by:
1. Starting with a lot of money (like $100K),
2. Getting way higher returns,
3. Trading on leverage (crazy risky), and/or
4. Trading with other people's money (prop trading or being a lead copy trader)

Not that hard to just be profitable with crypto bots. Making a million? Yeah, very hard.

Being calm and not panic when it’s going down, and buying more with the saved stablecoins you have. I know that everyone will talk about macd, weekly ma, and bollinger and all that. But leaving emotions aside and buying as much as you can at every turn is the only path.

Because in the long run it goes up, which means that we are going to keep seeing it go higher and then buying right now means it’s a good decision. Doesn't matter if it goes down, doesn't matter if it’s staying still, doesn't matter if it has been like this for a day or a week or a month or a year. Just buy more, leave emotions aside, and then buy some more. This will be the key to making a big profit.

It would really be a never ending searching for strategy and ways or methods which this market had always been fucking off everyones strategy via its unpredictable movements and this is why it would really be just

normal for a trader to look for another method or strategies when it comes to technical indicators or analysis which it would really be that normal.We cant really say that there's the best but there are definitely

some strategies which is really that precise nor relevant to be used whenever you do face up certain conditions.It might not 100% assured but at least you do made yourself be wary
on what are the things been going around but of course every step do make out does have corresponding risks ahead.

There are a lot of trading sources of information online. However, the situation of being in actual trading is different which I think is one reason why even if we look and spend a lot of time doing an online search, many people are still not satisfied enough, and many we're still broke. It could be a reason as well to make important why we should have to create our own rather than following any person (even have a mentor) as to know one day this person will also leave. It is very important that we fully understand trading the way it works in order to succeed, not by relying on others.

As a newbie, start with BTC/USD or BTC/USDT. Get to the point you can consistently make money with that. Pretty much everything else is too volatile for beginners.

Bitcoin is now less volatile than the stock market (S&P 500). Its largest single day drop in the current bear market was 16%, back in June. The last time it had a drop that big was March 2020, when Covid hit the US. Its current 30-day daily volatility index is 3.5%. Plenty for making profits, but you won't get rekt in a day or two.

As far as beginning strategies, you might try a swing trading strategy with RSI and Stochastic RSI, 15 minute trading period. with about a 4% stop loss. That's enough to  allow usual fluctuations, but pull you out of big slides.

Depending exactly how you implement it, that strategy over the last 6 months would've done about 36 trades, 75% W/L ratio, total profit of about 12% (24% annually). That's a good starting point to work from. With tuning, you can easily get that up to 30% annually. Just trading BTC, two indicators, fully automated.

Get a feel for the charts first, but then you can automate that on the free plan of 3Commas, CoinRule, CryptoHero, probably some others.

Good luck!

Study the market and understand both the intrinsic and extrinsic factors that affect its price. Do some research about the market situation and adapt from your decision. Again, there is no ironclad rule that will absolutely make you a successful trader- it is all about adapting and deciding whether it is the best time to sell your cryptocurrencies for profit.

One last thing- avoid getting too greedy. I have personally witnessed some people who refused to sell despite profit due to their hope of reaching a desired price. The conclusion is- they lost majority of their resources due to the volatility of the price of cryptocurrencies.

Not all the times and it would really be depending on the mentor on which you cant really be able to assure that the current ones who had been teaching you are the ones who do give out the best idea.
This is why it would really be just wise on making up some comparison so that at least you would be having the idea which one is really leading you into the right path. Although its not really that not necessary
for you to have a mentor since you could eventually make yourself learn with having the information that you could look around on the internet which it would really be just right or enough
for you to learn up without having some teacher or mentor when it comes to trading.There are lots of strategies around which you could potentially use and this is where
it do ends up on having personal preference or choices along the way.

Without a doubt having a mentor is the optimal choice as they can help you to identify the information that is accurate from the one that is false, this will speed up your development to an amazing rate and even help you to create your own strategy, however why this is not more common? Because finding a mentor is really hard, even if you knew someone that knew how to trade the markets there is not guarantee they will want to teach you as they will see you as a potential rival.

Watching videos from YouTube concerning trading strategy is good one but sometimes it can be complicated for newbies because they get different experiences from different people.  I think the best thing that will be easy for beginners is to get someone who knows trading very well who will be able to teach strategies that is profitable. It is better to accept different strategies that their are no assurance if it truly works. Having a mentor in trading helps in developing one's trading ability.

Just do DCA if you are a newbie, it's pretty easy to understand and even if people doesn't know about trading in first place, they can follow up this strategy quite easily if you have capital to do so. Just look up DCA articles in google and you will see lot of the example regarding of this strategy, the experienced traders are also using this strategy, because the potential is really big if you choose the correct investment to begin with.

As I was learning to trade, I used BTC-USD trading pairs. I've been quite trusting stablecoin and BTC but I'd never stop there, yet I move to try also several altcoins and change coins in almost every trade until I've got a good market formula. It can be done as well as long as you are not afraid to take risks. Take the feeling that you are curious about something that will happen after trying new trading pairs as we never know if this will give you more profit unlike just staying BTC-USD pair. And I've noticed that it was good to trade in a highly volatile coin, buy and sell option is too fast to fill where we can generate a profit so fast as well.

As a beginner it's very hard to get into trading without any prior knowledge of the crypto market. Sure people can give you their strategy that worked for them in the past, but this no guarantee for you to make any money of it by following it blindly. I would recommend you learn a bit about cryptos first and get slowly in the world of trading to avoid losing a lot of money. Have you done some investing already? In case you hold a crypto portfolio with different alt coins already, it's a good start to trade more actively with them. And if you don't hold any cryptos yet your beginning trades will be Fiat into cryptos. When trading different coins against each other you also need to keep in mind the fiat money you receive your salary in and where you pay all your bills with. For a complete beginner I would recommend to start with the Bitcoin market, it's a good way to get a foothold in the crypto markets and you don't need to worry that prices are going to drop suddenly.

Crypto currency trading involve the use and study of indicators anything that have to do with buy low and selling high is consider an old-fashion of way of crypto short term investment.

I hope you understand the use of bot in crypto trading is not easy as you said it and if it is that easy to make a profit through a bot don't know a lot of crypto trader that would be millionairess as we speak.

Buying coins in the bear season is consider risky for both investors and traders, one can buy a coin that's dipping, expecting to see a retest  to start moving in a bullish position, it's contrary against the idea and it still dips, that's when you buy a coin that's dipping, you dipping with the dip. Funny how it sounds, but it takes only the strong and patient ones to withstand the dip and get profits at the end. Buy-in and holding is a regular normal thing people engaged in the market. It's considered a format and people are making money because they buy at the right time and sell while some buy at the wrong time and losses.

Buy and hold without fear is among the strategies many people use to win big profit from their investment, which you can apply it to your investment as a newbie and start experiencing positive changes in your profits. Since the bear season is still on ground for people to buy stable coins and hold without fear until the price increase higher before they can sell in the market to earn well, and to believe that the best strategy to use in the community is to buy and hold without fear is favourable to investors.

I don't know why you are not considering ir as trading. But it is the trading, buy at low sell at high.
Of course it is based on settings and if you have set a good range and you think that is the basich range and any coin will not trade out of this range for a long time. So you can easily set up a range for this. And can make easy and passive income. I mostly like Bitcoin. Because if it goes out of my set range and go down so I can easily hold it.

Do you own a local exchange? If so, then I can also advise you to trade assets with your local currency pairs. But if not, you are also free to choose stablecoin or other altcoin.

As a newbie, I'm not sure if it's necessary for you to care about trading pairs instead of the best assets to own ^{[you buy],} for me it's much more important than thinking about trading pairs because most people probably like commonly used pairs like USDT or other stablecoin.

It's not with the specific trading pairs as almost all pairs need the best approach regardless if you are a newbie or not. There's no such thing as suggested trading pairs that a newbie or starter should pick. As a newbie, maybe pick based on what you really preferred or are somehow already aware of.

The key here is to understand how to work on the strategy to fully achieved the profits by doing the "buy low sell high".

BTC/USD trading pair might be a good start. Just give it a try to feel the real pressure of doing trades.