Best strategy for crypto trading - page 9.

Ziskinberg

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Quote from: davis196 on January 30, 2022, 08:10:37 AM

The best strategy is to "buy low and sell high". Grin

The problem is that not many traders know how to do this.

I don't think so. In fact, it was been a known strategy but the problem is that some traders had changed their minds as the market trend changed as well. It can be difficult to stick on the strategy when we got to lose control of our emotions and brought to losses instead of profit.
Well, traders will find strategies that are really effective but often fail because of being impatient. They often change their strategies once they lose and that seems to be not a good idea but instead, we sometimes stick to it for it works the next time.

davis196

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The best strategy is to "buy low and sell high". Grin

The problem is that not many traders know how to do this.
When it comes to Bitcoin,If the prices are dropping,just DON'T SELL.This is the number one rule.If you don't follow this rule,you won't be successful at cryptocurrency trading.If you don't follow the number one rule,all the other rules are pretty much pointless. Grin

I'm just keeping things simple.Many traders want to make things complicated by all the technical analysis stuff,but I've always thought that trading isn't supposed to be rocket science.
If you are asking about day trading of shitcoins and memecoins I can't give you any advise,because I don't want to touch shitcoins and memecoins even with a ten-foot pole.
My only advise about shitcoins/memecoins is to sell them and get rid of them ASAP.

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Quote from: Ararbermas on January 29, 2022, 10:17:52 AM

Hello guys what's your best and accurate strategy when it comes trading crypto? because to be honest i've been learning and at the same time trying to trade live using common strategies such break out, trend line and some pattern that i know but seems not giving me a good win rate. Any suggestion or tips and what's your best strategy especially those who used to day trade? I'll appreciate your input guys.

There is no such strategy, if someone know a strategy which gives them more success rate how can you expect them to expose on public forum for free?

Technical analysis is just a part but price variation depends on other factors as well so keep in mind that try to avoid loss while trading that is what the best we can do which obviously gives better success rate.

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Quote from: rijaljun on January 30, 2022, 04:09:10 AM

I don't think there's a precise or accurate strategy but I believe in consistent wins from a trader. A professional trader does not stick with one strategy and uses a lot of strategy to make profit and the accuracy is not based on the strategy he use but the wins he has in the trades so there's no best strategy and no accurate strategy.

Day to day trading is constant learning and following the market directions. Head needs to be clear and no emotions involved.

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Quote from: rijaljun on January 30, 2022, 04:09:10 AM

I don't think there's a precise or accurate strategy but I believe in consistent wins from a trader. A professional trader does not stick with one strategy and uses a lot of strategy to make profit and the accuracy is not based on the strategy he use but the wins he has in the trades so there's no best strategy and no accurate strategy.

I agree that a trader should not stick to just one strategy because it will be very risky for sure,
a trader needs to see the conditions first before determining the strategy,
But what is clear is that every trader has his own way

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Quote from: Ararbermas on January 29, 2022, 10:17:52 AM

Any suggestion or tips and what's your best strategy especially those who used to day trade? I'll appreciate your input guys.

The best is to wait for bear market and invest at the onset of another bull run. But if you want to learn more about trading, you will need to be very patient, use the amount of money you can afford to lose for trading and be very patient. Good to sell more often in the bear time and buy more often in the bull time. With time, you will have more experience.

Quote from: pinggoki on January 30, 2022, 03:59:29 AM

For me, I only follow two things, buy low and sell high which is kind of cliché but it is what it is and watch the Fear and Greed Index and move accordingly. These two things helped me get some profit even though I don't trade full time and I just pop out and buy or sell whenever the movement in the index and he prices match what I want to do.

It depends, on which bases, weekly? Daily? Hourly? Minutes? Which one? For traders, some can buy high and sell low in just 15 minutes, 30 minutes or hourly, this strategy can work but not all the time. The market might have fallen, the person buy but the market continue to fall, it can be like that many times. Also some times, greed is what brought loss while trading.

rijaljun

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I don't think there's a precise or accurate strategy but I believe in consistent wins from a trader. A professional trader does not stick with one strategy and uses a lot of strategy to make profit and the accuracy is not based on the strategy he use but the wins he has in the trades so there's no best strategy and no accurate strategy.

ChrisPop

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If there were a strategy that works just by inputting a few parameters everybody could use it, but trading is a much more complicated endeavour. I know it probably sounds like a clichee, but it really is up to you to make a strategy work. It is about starting with thesis and then optimizing it through many iterations. Notice what works and what doesn't, improve where possible - only use tools that bring your strategy value aka do not have indicators plotted on your chart just for the sake of looking complex.

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For me, I only follow two things, buy low and sell high which is kind of cliché but it is what it is and watch the Fear and Greed Index and move accordingly. These two things helped me get some profit even though I don't trade full time and I just pop out and buy or sell whenever the movement in the index and he prices match what I want to do.

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@Ararbermas
Have you checked this subreddit^[1]?
[1] https://www.reddit.com/r/RealDayTrading?utm_medium=android_app&utm_source=share

This subreddit focuses on analyzing the market first before doing the actual technical analysis to determine when to enter and exit. Market first means that you are going to ascertain the directional bias of a certain asset by comparing it to the market leader, which in our case is BTC. The things is, most people on that subreddit primarily trade stocks and only few of them uses the strategy for crypto trading.

That being said, the name of their strategy is Relative Strength/Relative Weakness (RS/RW) vs SPY(BTC) whereas:

Quote from: Maus0728 on January 28, 2022, 12:37:36 AM

A crypto is showing signs of Relative Strength if:
- BTC goes up, ABC crypto is going up as well.
- BTC is flat (sideways), ABC crypto is going up
- BTC is down, ABC crypto isn't that much affected

Relative Weakness if
- BTC goes up, ABC crypto is'nt showing strong uptrend.
- BTC is flat (sideways), ABC crypto is going down
- BTC is down, ABC crypto is exponentially going down.

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it all depends on what trade you want to do, day trading or long term trading.
Of course, if you want to do long-term trading, you have to choose top coins to avoid the risk of losing if you choose new coins and for daily trading there are very many things that must be learned, both technical and non-technical, such as controlling emotions yourself not to be greedy or minimizing mistakes. and also for day trading there will be a lot of risk to be faced but it's all worth what you will get.
so whatever type of trade is carried out, of course the risk is still there, and now we as traders must be observant to see opportunities in taking profits and minimizing the risk of loss as much as possible.

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Quote from: joeperry on January 30, 2022, 02:04:44 AM

Quote from: GreatArkansas on January 29, 2022, 08:00:22 PM

This is very difficult to answer as every trader got different tastes or ways how to do their trades.

This is true every traders have different strategies and perspective of what the chart gives, in my case I don't usually trade along the an uptrend or downtrend I wait for a pull back first and use a Fibonacci Retracement tool along with the MACD (to see momentum of the current trend) and use the RSI (to see if overbought and oversold). This is just a simple strategy but I find it effective most of the time at 1hr - 4hrs time frame.

i did it in the past but learned it's not very effective in day trading. Fibo and RSI will be a good indicator to have if you are for long-term trade. it will be tiring to watch the chart for a day seeing how slow the movement of price is.

to me, it will be a challenge to trade 1-4 hour chart in the spot market particularly in this semi bear market but you'd be profitable in futures derivatives if you know what you are doing.

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Quote from: GreatArkansas on January 29, 2022, 08:00:22 PM

This is very difficult to answer as every trader got different tastes or ways how to do their trades.

This is true every traders have different strategies and perspective of what the chart gives, in my case I don't usually trade along the an uptrend or downtrend I wait for a pull back first and use a Fibonacci Retracement tool along with the MACD (to see momentum of the current trend) and use the RSI (to see if overbought and oversold). This is just a simple strategy but I find it effective most of the time at 1hr - 4hrs time frame.

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Quote from: Ararbermas on January 29, 2022, 03:23:31 PM

Quote from: michellee on January 29, 2022, 01:25:28 PM

I guess that depends on the coins because I only use a basic strategy to buy low and sell high. If the price is increased, I will not try to chase it instead calm down and wait for the next correction because sometimes, the correction can be deep than the last low price. It will not be easy to use daily trade in this situation because the market is difficult to predict. When the line is not increasing or decreasing much, you need to be careful because sometimes, the price will drop directly.

I think you can use the basic strategy like what I did but you need to pick the right coins for daily trading. Maybe you can use the strategy for bitcoin trading and not altcoin trading but you can try it.

yhup chasing price is a very dangerous way especially when it comes crypto because of being so volatile wherein reason it's getting unpredictable as well when analysing. And that's why i preferred retest than chasing price just to prevent a sudden drop of price because it's very common to be honest base on my experience trading crypto wherein mostly false break out. That's why i learned supply and demand especially support and resistance in order to determine which level the price will retest and breakouts..

I like to see a sudden drop from bitcoin and altcoin because that will be a good time to buy back more. Many times after the sudden drop, the price bounce up, even that can give more power to the price to break the last current price.

Buying during the dip will always be the best method to trade as we do not have to trade in a rush instead just trying to search for a good time to buy and sell. If we can do that, there is nothing to worry about. In these few days, I decided to watch the market moves, just watch and not place trading orders because I feel the market moves suspicious so I guess I do not have to force myself to trade.

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Quote from: palle11 on January 29, 2022, 02:14:18 PM

The best way to trade is to follow the the ways others are doing. Following the trend that is and to follow the trend you can follow the group or community of the coin you are trading on. Sometimes the group decide to pump the coins and you see everyone going for buy and other times the are dumping. You can also by yourself monitoring the movement of bitcoin because that also drives altcoins market.

I disagree, you're likely to end up losing more than you will profit. Nothing good comes out of pumps and dumps. It has been observed that only the organizers and probably close peers profit from this scammy activities. You as a noobs probably will just be buying the top and later get dumped on. Avoid hype entirely as this same scenario occurs too. Take a good look at the coins that were hyped last year, they all are at a low price currently and most likely won't increase in value again or to the price they were few months back.

Best trading strategy has to do with you developing a system that works for you, I can't give you mine because it might not be productive for you either due to your financial status or lacking the skills to execute it. While you can learn from others strategy don't go try to be them, not everyone should be day trading etc.

GreatArkansas

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This is very difficult to answer as every trader got different tastes or ways how to do their trades.
But for me. Using multiple time frames, trading on breakout rather than catching the dips/pumps (catching falling knives).
Using multiple timeframes to confirm the price action, not only in 1 time frame, using higher time frame is also best idea to identify the market structure.

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Quote from: Ararbermas on January 29, 2022, 10:17:52 AM

Hello guys what's your best and accurate strategy when it comes trading crypto? because to be honest i've been learning and at the same time trying to trade live using common strategies such break out, trend line and some pattern that i know but seems not giving me a good win rate. Any suggestion or tips and what's your best strategy especially those who used to day trade? I'll appreciate your input guys.

I'm not really good at trading, actually but there is one thing I've noticed upon trading is to find coins that are very active/hot in the market. I use Binance, I'd come to visit their site and see what is their promotion and updates as this becomes helpful to choose which coin is likely to top.
Well, of course...it was too good to look at their trade volume, total supply, and last is the price trend. Nothing had changed and to buy during the dip is very effective.

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Quote from: Ararbermas on January 29, 2022, 10:17:52 AM

Hello guys what's your best and accurate strategy when it comes trading crypto? because to be honest i've been learning and at the same time trying to trade live using common strategies such break out, trend line and some pattern that i know but seems not giving me a good win rate. Any suggestion or tips and what's your best strategy especially those who used to day trade? I'll appreciate your input guys.

Best strategy is to keep up with your strategy. I know that it sounds weird right now, but you will soon realize that you actually need to do that.

Like it doesn't matter if you look at the BB or MACD or RSI or anything like that, if you switch up and decide to check some other way after not being in profit after a few tries, then you are going to be wrong for a few more tries and you will imagine that you will find a better one and keep switching or combining or anything and in the end you will find yourself in big trouble. Instead, just do the simple thing, buy crypto in DCA way when it is going down, and sell it when it goes up, that's it.

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Quote from: michellee on January 29, 2022, 01:25:28 PM

I guess that depends on the coins because I only use a basic strategy to buy low and sell high. If the price is increased, I will not try to chase it instead calm down and wait for the next correction because sometimes, the correction can be deep than the last low price. It will not be easy to use daily trade in this situation because the market is difficult to predict. When the line is not increasing or decreasing much, you need to be careful because sometimes, the price will drop directly.

I think you can use the basic strategy like what I did but you need to pick the right coins for daily trading. Maybe you can use the strategy for bitcoin trading and not altcoin trading but you can try it.

yhup chasing price is a very dangerous way especially when it comes crypto because of being so volatile wherein reason it's getting unpredictable as well when analysing. And that's why i preferred retest than chasing price just to prevent a sudden drop of price because it's very common to be honest base on my experience trading crypto wherein mostly false break out. That's why i learned supply and demand especially support and resistance in order to determine which level the price will retest and breakouts..

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An hour before the start of the daily candlestick, I scan through a possible long or short trade based on how the previous daily closed, then picked the potential trading pairs this requires plenty hours of studying charting i.e hours of charting time, thereafter switch on to 15 minutes timeframe for a trendline break then place a trade, take profit after the price had move in my favor using breakout of bollinga upper band as profit taking zone or price moved 1.04***** based on based binance isolated margin trading calculations.

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