Topic: Best Strategies for Trading. - page 6. (Read 1261 times)

This is for most altcoins, don't be attached on it and when you've seen that you're ready to profit from it, then just take and do it.
Don't be emotionally attached on it because if you're at losses, you won't think about cutting your losses and have to dump it so that you won't have that big loss. Losing is normal as you trade and it can't be avoided and that's why you have to do something for you to mitigate the losses and risk that you're taking. You can't be green at all times no matter what strategy you do. You have to adapt the situation and you need to deal with it.

This is a very boring kind of earnings and it is more suitable for those who occasionally visit the exchange to find out the current price. In addition, it does not allow you to get a profit that allows you to meet current needs. So if you want to make a profit every day, you need to study trading strategies and test them yourself on the cryptocurrency exchange.

It is not easy indeed to get a strategy that suits us and it all takes time and a process,
losing at the start is normal and it's part of the process I think we all go through that,
what is clear is that the best strategy cannot be obtained instantly

The best currency pair I have used are coins that are not highly volatile, the less volatile ones like bitcoin are the best for me. Some of the strategies I have used:

Using low leverage like 0.5x and going maximum at 3x margin ratio
Trying all possible means to take away emotions while trading, although very difficult at times but it is worth it for professional traders
Never looking for ways to earn what I can not lose
Newbie readers should not use more than an amount they can not afford to lose
Searching more online about the do and don't of trading to see if to gain more knowledge about trading
I use indicators, they can fail at times, but they give good analyses
Manage your risk
Looking for better ways to still maximum profit if indicators fail

DCA is not a trading strategy, it is not even related to trading at all. DCA is an investment strategy. Trading and investment are not the same or related, they are like a word and an opposite.

All successful trades are the best strategy. Every trader has a different mindset on how they will trade. You have to identify which strategy works for you. For example few traders like short trade, few mid trade, and few traders like long trade. It depends on how you want to handle your trading and which strategy will work. I know you might lose at the beginning. But that's how you will learn. So trade yourself and learn. There are no pills that you take and learn. My strategy is hold for short time and sell when you have profits then buy back on dip.

Whatever strategy you choose to start with in trading, if it turns out to be strategy that works for you, you should not get too comfortable with it as it can deceitful, there is no assurance that a strategy in trading that works today will work tomorrow. It is necessary that you keep your strategy always dynamic and be able to make changes to it as soon as it starts becoming ineffective.

I could not say for sure something that can help you, because you have to be clear about what you want to do, whether in the short term, medium or long term, for this type of trading, you have many strategies, what I think is that there can be many scenarios where obviously you can't trade in the same way in the short term as in the long term so you have to figure out what kind of market speculator you want to be, obviously when you're a short term trader you have to apply a lot of technical analysis, because sometimes it helps a lot in the case of long term things can change and everything will change very fast.

A newbie that has done alot of demo can go on to try real trade by trading gradually on low volume coins so that volatility is reduced. Using low leverage too and the use of proper money management will help such trader not to really feel much difference with demo and real trading but increasing of risk appetite without enough experience is risky. However, DCA is not really trading and also not free from risk because accumulation of coins without profit can be frustrating.

The best to use is high market cap coins, Bitcoin and Ethereum pairs are good also check from your exchange using which pair got high trading volume, which means there are a lot of traders trading those pairs recently. And also try to trade with stablecoin pairs first.
Also, avoid using high leverage, less leverage less risk. Practice risk management, don't go all in.

For beginners, they shouldn't be too pushy because it will only make you lose,
what you say is true better focus on just one first and also improve your knowledge and skills,
most importantly enjoy the process

I know that it's good to ask of the possible way of trading, i know that many people will give you their own ideas of trading base on their understanding of trading, another thing is that in trading you have to make your own impact by researching of trading by using YouTube video and also searching in Google to know more better of trading strategies, because it's hard for someone to give out it's way of success in trading, it's what i found out

You need to know that trading is not for everyone and only those who desire to learn can follow the course of trading. You have to find your own trading strategy and can't use someone else's strategy because we have a different points of view about strategy and I'm afraid that if you use or learn strategy from someone else, you will find it difficult to make a profit. But if you can learn on your own from the many strategies out there and develop them so that they work for you, you will be able to profit while trading. Especially if you are a beginner in trading, it is very important to learn about strategy.

OP, the pair BTC/BUSD will be suitable for novice traders. just focus on one pair first. don't think too much about altcoins which will make the pump return bigger.
study the charts and the market on the BTC/BUSD pair. Once you understand and start developing, you can try other altcoins.

You just took this out of my mouth. You're spot on on that. OP should start with simple pairs like that. Don't cut in more. Grow from one or two pairs. I would specifically suggest BTC/USDT or BTC/BUSD pair. Sticking to a single pair makes it easier to monitor the movement and being able to make evaluation in such a way that picking entries wouldn't be much of a burden. So many traders think that trading many pairs is a recipe for profitability. That's false. There are those who trade single pairs and are profitable doing that.

• BTC/USDT
• ETH/BUSD

These are very common pairs on exchange and I think as a newbie, I'll prefer the very common pairs over others.
But before picking such trading pairs, you need to know first if this is applicable to an exchange that you use because sometimes trading pairs vary on an exchange that you have used.

Stablecoins pair has more liquidity and that's why have a high market capitalization the potential of seeking profit, it's advisable pair for newbies and even professional traders.

The question is not as straightforward as you make it out to be, you say you are a newbie but how much of a newbie you really are? If you do not really know anything about the markets in general then it is better that you take your time and begin to learn for at least a few months, if you do not do this then I can guarantee you that regardless of the trading pair that you select you are not going to make any profits in this market no matter how hard you may try.

^This can depend on the knowledge that you have because not all people are suitable for trading and it is based on their skills.
If you don't have enough knowledge, I suggest you not continue trading because it will probably be the reason why your fund will easily wipe out. So don't trade if your lack knowledge, holding is suitable for newbies as they said above. Investing in a DCA way would be the best way for those newbies who did not know how to deal with the market situation.
However for newbies, try your luck on copy trading for practice and gain experience, but don't expect too much profit from this instead, the experience will give you a benefit to learn and give a better strategy and a path to become a good trader.

If you've got enough fund in your wallet and a decent investment already to risk only a few percent, you could try making calls on whether you think something will go up or down. Look at how others have traded based on technical analysis, learn how support and resistance works and look at learning how to spot technical patterns yourself (this should take a few months to learn if done right). You can only trade these certain strategies at specific times so it's best to come up with rules at points (ie, one loss makes you stop trading for the day, three days of losses means you take some time to do something else - you could switch to forex or stocks or just give up and find some reading or research to do and return a week or two later to see if the uncertainty has left).

If you don't have a solid investment you can borrow funds from, focus on building that and keeping it. You can add some of the strategies mentioned above to it but you should decide whether you want to focus on accumulation and only buy supports or whether you should sell resistances too (you can do this with a few % and just keep buying if we go lower after reaching a new higher price). DCA can turn out to be more profitible than this, your chances of that being more profitible than this is generally based on the market and fairly random but it can teach you a skill.

The best strategy for newbies is, buy and hold in your personal wallet.

For this, you need two things, [1] a P2P exchange where you buy bitcoin with your bank account. [2] non-custodial. After purchasing bitcoin transfer it to your personal wallet ( non-custodial is recommended so that you have control over your funds)


[1] List of P2P/no-KYC exchanges

[2]
What is a Non-Custodial Crypto Wallet?

What is a Custodial Wallet
Source

For strategy that is most effective for newbies is just buy and hold for long term. You can never go wrong with this one. You'd be surprise how much you could have after waiting for several years. This is as long as you hold for a longtime.

Its usually BTC/USD. It could be stablecoin like USDT which mostly are trading. So BTC/USDT in monthly chart for futures market, this could be profitable but you should be careful though. We yet have no idea if the market will really bounce.