Topic: buying low and selling high - page 7. (Read 1463 times)

Great question bro that is good strategy according to me because that is early stage and you can learn alot of mistake rather than for taking big steps. I also trading on spot and always check support and resistance before taking trade. It's help me to make the growth of my portfolio. Do investment small money and accordingly exist when you see the profit

You need to have some crypto trading knowledge to be able to take advantage of every dips in the market or else your coins will decrease due to you panicking and FOMOing, better trading strategy will get you relaxed because you understand what's coming.

Maybe OP was just curious because his friend was like trying to make money but OP doesn't know the real risk about what his friend been doing. OP should at least learn the basics first since it seems like he wanted to try this kind of strategy although, it's not that easy when talking about trading since it does need someone to be ready whatever happens and I think his friend was using a signal to trade but it cost too much time and also you have to be patient of doing this.

Basically, trading on the Spot market is probably less risky than in the Future market. However, there are some notes that must be considered if we are going to trade in the Spot market. It is better to see the coins that have really high market cap and trading volume. However if they are with high changes in some certain times.
The question may beat what price it is considered as low price and sell on what price target. But, this will depend on personal counts. As long as you are not panic enough, have good attention on choosing which coins worthy for short term, and also how the market condition at that time. Because we also don't  know if after buying the coins, the amrket will exactly rise up or moroever fall down drastically.

This is a basic way to trade, and it is the simplest way which you can trade, but I can tell you if you want to be trading like that then it requires enough patience, you don't have to be looking for fast money, you have to patienly wait for a coin to dump, then you will buy, also you have to wait for the price to increase then you will sell. Don't think immediately you buy the price will start increasing, the price will still dump more because it's really difficult to buy the bottom and you will wait till it increase before you sell which might take hours, days or months. If you want to be using this method them make sure you are trading bitcoin.

In my personal opinion, it is a good practice, but there are rules that must be obeyed if you want to profit in this kind of trading most especially, if you are a newbie,  I will run you through some of this rules in a bit.
1. Trading spot requires a great amount of patience,  you can't be able to grow your crypto portfolio through trading the spot market if you are not patient trader.
2. If you are a newbie trader,  it is very important that you start your trading journey with a very small amount of money,  atleast, $10 to $50,  you can increase this amount as you become more experienced and confident in yourself.
3. Diversity is important in crypto spot trading,  don't put all your eggs in one basket,  trade different coins but it shouldnt more than what you can handle, this advice is important because you never know which will bring you more profit.
4. learn to use a DCA  strategy,  that is, do not use all your funds to buy a coin at a go,  buy in stages most especially, when the price of the coin is going down.
5. Do away with greed in trading spots,  greed will only lead to losing profits you already gained and also losing your capital as well if you are not careful,  so watch it, very important.
6. Have a set target of profit margin per trade and per day,  and compel yourself to always stick to your target,  give yourself rest once youve meet your target, do jot over trade.
7. Give yourself to knowledge and new knowledge all the time,  we live in a world where things are fast changing technologically,  so open yourself to constant reading and market research, pay attention to market news, all this will help you know which coin to trade and which to avoid.

Conclusion,  there are many other rules/tips,  but with the above,  I believe you are already on a good foundation,  trading is a good skill that if mastered,  can give you a life of living without financial worries.. So give yourself to mastering the skill if you fancy doing it.

If your main purpose is about doing practice then you should try trading with demo account. And if you want to make profits by this way you have to learn about trading and have proper experience in trading.

Bro you can do that with less dollar to buy and sell in spot trading . But you have some idea about spot trading that where you that buy and sell any tokens. Even that if you buy in dip so you can sell on High with the help of support and resistance. Iam using some tools to predict the support and resistance that is why you could be successful trader. Pick fundamental strong tokens & coin to daily trading then you have make huge profit

I'm deeply convinced that everything that someone describes as "easy peasy", in fact, turns out much more complicated. It will be very difficult for a beginner to predict the behavior of the market. I wouldn't risk my investments if I'm not sure of the result (or at least in my assumptions about the results)

I am an expert trader in traditional Forex trading, commodities, stocks, equity, energy and cryptocurrency markets, I must say that the same principle applies to all of them. You can sell them at their highs/peaks or buy them at their lows/bottoms. I mentioned the other classes of assets because this kind of practice has been in existence for many centuries ago and works well for cryptocurrencies too.

Nonetheless, if you are doing this, make sure you use higher timeframes and include both price action and other technical analyses for more confirmation. I suggest support and resistance strategies for the analysis.

It just looks easy because you will see the market to wait for the dip and buy but not all the time it happens that's why having knowledge of the technical indicators and analysis by that instead of waiting for the dip without assurance or pump with your knowledge you can prepare yourself what is the possible price ideal to make a safe buy, not all dump is the dip and not all pump is ATH. Always manage your risk make a stop loss and profit not all investor will hold their coins its volatile.

Interesting topic, for investing in crypto is long term or short term investment. we have to buy at a low price and sell at a high price, of course what we need is the knowledge first, because in my experience sometimes when we want to buy crypto we like to slip at a price that is too expensive, so we have to be smart when buying crypto we must be able to estimate the price and Of course you have to know the lowest price point and have to buy when the market is bear and sell when the market is bull.

Perhaps, your relative manages to keep his vision and remain on the strategy. You can certainly imagine that was easy but many traders do in opposite because their doubtful mindset causes them to think negatively instead of staying on the strategy which makes it happen now " Buy low, Sell Low". Because if we all understand the market and keep on this, we all gonna rich but unfortunately, only a few survive because they fail to follow what it says. It all just talks but not in reality.

There is nothing easier than to follow this advice, but in practice it often turns out the opposite. And as a result, you buy coins at high and sell them low. Accordingly, instead of the expected profit, you get a loss and leave the cryptocurrency market with empty pockets.

Now you can explain to me, how you can analyze the market and know exactly how much the low and high price

I have already learn so many thing and it doesn't make me understand, personally I don't see chart and draw a line will help you to know when the price will go since you can't know what exactly will happen in the next hour, day or week. The price can suddenly drop and you don't even predict that, it just like full of market health and condition, not trading skills.

buy low and sell high. yes, that's how it should be in trading in crypto in order to get the maximum profit. it sounds very easy but in practice it is not that easy, because we have to be really accurate in analyzing prices, even if crypto prices go down we have to analyze it properly and have to know the end point of the lowest price, don't buy the price, we think it's already low even though the price is still haven't hit the bottom yet so we have to be really careful when buying crypto. because if we buy carelessly we will lose, and I have also experienced losses because I don't know the knowledge, but after I studied for a long time I finally succeeded, being able to buy at a low price and sell at a high price. and if you want to learn it can be done online or offline.

If we are talking about Bitcoin only, it is better to do DCA if you don't have a lump sum to invest all at once. If you do, someone who has been following the markets for a while would identify that now is a low good time to buy, regardless of whether the price may fall in the short term, and invest the lump sum now.

When it comes to selling, what you should never do is sell all your Bitcoin. When we get back into the bull market, when we hit $69k or even $100k, you can sell to taste profits but small pieces and always remaining invested.

You're right, technical and fundamental analysis is just as an aid to avoid anything bad from happening. Because the market cannot be predicted exactly by their movements are very unpredictable. But thanks to the existence of tenikals who have the same patern and have been agreed that market activities have become more visible where it is going. Although in the end we are also not 100% sure because the market is not only technical. Sometimes Whales undermine the technicalities we have done and change the direction of the exchange market movement.

Simple to say but hard to put into practice.
Currently the bitcoin price is still at the lowest 66% of ATH, and this is an opportunity to expect future profits at higher prices. I don't expect day trading as a reason for high profits, but it should be a long term investment that may be good in 2 to 3 years or more.

Even we said doing a buying low and selling high as a basic concept still it requires a good practices like making a stop loss and take profit and always make a manage what kind of trading plan you will make in what time frame like long or short term example make a trade in 4 hr time frame, day, weeks or months. Even though it is looks like simple makes an investment with your knowledge how to trade by that you can make a good profit.