Choosing a cryptocurrency pair - page 2.

AbuBhakar

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Quote from: xanto on May 26, 2023, 10:26:04 AM

Hello
I suddenly had a question about the choice of cryptocurrency pairs for trading and I became very interested in how people trade now
I have used a lot of different cryptocurrencies in my life,but bitcoin will always remain the main one for me
Other coins may disappear but bitcoin never will
Share your experiences with different cryptocurrency pairs
Even with a good or bad ending

-Regards

What do you men by pairing? Choosing a fair is based on the liquidity for that specific pool. Traders usually choose better liquidity no matter what is the pair since that will give a less price impact on trading. Currencies with less liquidity typically die so make sure only trade a token with high liquidity to avoid being burned by huge capital. Liquidity dictates everything about the price. The existence of DEX makes the importance of liquidity highlighted since DEX shows the detailed percentage of the liquidity pool unlike CEX that has no data with their liquidity.

rat03gopoh

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Quote from: xanto on May 27, 2023, 05:05:23 AM

Thanks to all for the advice of course,guys
But I don't need to explain it all,because it's an explanation for beginners

I am interested in your choice and the advantages of this or that trading pair in your opinion

-Regards

So yeah I don't think an older member should be collecting trading stories from a younger member because I think they know better what to consider independently. This kind of question will only get repeated generic answers about 3 types of trading pairs: Fluctuatecoins X Stablecoins, Fluctuatecoins X Fluctuatecoins, Stablecoins X Stablecoins.

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Quote from: tjtonmoy on May 27, 2023, 04:17:00 PM

Once I traded this ALT called Merlin token with USDT pair. It was doing great, showing some good price movements, and I was making a good profit. But as we all know what happens to centralized shit, it rejected so hard that my $386 worth of tokens went down to $1.6 after some days. It happened in only 2 hours. That was the first event why now I hate ALTS so much.
Bitcoin is the best choice in my opinion because of it being decentralized, and it has the ability to grow back up when it goes down. History shows us that and as we know, history repeats itself. So no doubt, BTC/USDT pair is the best. Keep on it and in the long run you will be more profitable than those ALTS pairs.

I also sometimes buy coins where the risk is very high, but with experience you will learn not to be greedy and sell coins when you have a profit of 200-300%.
The value of coins can rise even higher, but miners have a rule to keep 10-20 percent of the coins if the price goes up.
And if you sell 80% of the coins, then you will have a profit.

tjtonmoy

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Once I traded this ALT called Merlin token with USDT pair. It was doing great, showing some good price movements, and I was making a good profit. But as we all know what happens to centralized shit, it rejected so hard that my $386 worth of tokens went down to $1.6 after some days. It happened in only 2 hours. That was the first event why now I hate ALTS so much.
Bitcoin is the best choice in my opinion because of it being decentralized, and it has the ability to grow back up when it goes down. History shows us that and as we know, history repeats itself. So no doubt, BTC/USDT pair is the best. Keep on it and in the long run you will be more profitable than those ALTS pairs.

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Quote from: xanto on May 26, 2023, 10:26:04 AM

Hello
I suddenly had a question about the choice of cryptocurrency pairs for trading and I became very interested in how people trade now
I have used a lot of different cryptocurrencies in my life,but bitcoin will always remain the main one for me
Other coins may disappear but bitcoin never will
Share your experiences with different cryptocurrency pairs
Even with a good or bad ending

-Regards

BTC/USD and ETH/USD are the trading pairs I use the most. I just feel more confident when I use these trading pairs and personally haven’t received much losses while using this. Yes I can use other coins as trading pairs and can get good profits from it, but still with good profit the risk involved is also increased, hence I stick to the basic and goes with the pairs with less inflation.

Doan9269

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Quote from: xanto on May 26, 2023, 10:26:04 AM

Share your experiences with different cryptocurrency pairs
Even with a good or bad ending

I've invested mostly on bitcoin in my entire life, lately i began to take a look on cryptocurrencies like litecoin and Ethereum, i wouldn't want to go too far because i wanted to stay more close to the confined zones where am likely not to loose my money or investment, which makes me to maintain only these few for now, i know that they can never fail for now and there's no how you will be making a crypto ratings without including them on the first 10 coins one can invest with.

YOSHIE

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Quote from: xanto on May 26, 2023, 10:26:04 AM

Share your experiences with different cryptocurrency pairs
Even with a good or bad ending

In general we often see and people talk about, whether here or on the internet / google, they often talk about cryptocurrency pairs in trading they always take the top 10 types of crypto in: https://coinmarketcap.com/, it is commonly done by crypto trading actors.

Of course, everyone has their own partner in terms of trading, to be honest if you ask me for sure, I only use and have only three types of crypto in trading, (1). Bitcoins (2).Ethereum (3). BNB, those are the three types of crypto that I always use in crypto trading, nothing else.

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Quote from: xanto on May 26, 2023, 10:26:04 AM

-snip-

This only concerns the investment pair that I will choose and has nothing to do with who is the best among them.
Bitcoin and Ethereum might be a crypto pair to invest in.

From my experience, among the many altcoins that are available and even those that appear all the time, Ethereum has good resistance from most altcoins including expecting returns, of course this is a crypto pair for those who trade medium and long term.
IMO, a Bitcoin and Ethereum pair that can reduce the level of risk in long-term trading and not worry too much about losing capital.

xanto

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Thanks to all for the advice of course,guys
But I don't need to explain it all,because it's an explanation for beginners

I am interested in your choice and the advantages of this or that trading pair in your opinion

-Regards

Oshosondy

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When trading, you have to consider leverage. Assuming you are using BTCUSDT futures to trade, going not more than 3x margin ratio is better. But if you are using altcoins, going not more than 1x instead is better.

The problem with altcoins is that you have to look for better ones. I have used some before which are good, and some are bad because they are most volatile. Example of good ones are litecoin, dash and qtum. There are other better ones like neo, doge, sand, gala, and some others. But there are some altcoins that are very volatile which I will not advice any trader to use for trading.

Bitcoin is good for trading, but if you are also looking for altcoins, check the volatility for days to weeks or even to a month or two and make sure the altcoins are not very volatile at all.

If going for more or most volatile coins, that is the beginning of gambling and also the beginning of failure.

hugeblack

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I prefer the Bitcoin / Ethereum pair, which gives me some dynamism in fear of risks, since in both cases I will make gains in the long run, since the two currencies have a good future and the probability that one of these two currencies will go to zero is very low.
Profits generated from this trading are converted into Bitcoin.
Then I trade in the stable currency pair with support and resistance points, so that it is medium-term trading with a maximum of 6 months.
The profits generated from the above trading I use for day trading where I can buy and sell in altcoins without any real fear of losing my capital.

This strategy is good and works well, but it is slow and low risk.

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Quote from: xanto on May 26, 2023, 10:26:04 AM

Hello
I suddenly had a question about the choice of cryptocurrency pairs for trading and I became very interested in how people trade now
I have used a lot of different cryptocurrencies in my life,but bitcoin will always remain the main one for me
Other coins may disappear but bitcoin never will
Share your experiences with different cryptocurrency pairs
Even with a good or bad ending

-Regards

Most of what you say is true because indeed bitcoin will never die or disappear and there is a lot of evidence that bitcoin is the best asset out of several other existing cryptos. However you can also choose ETH as the closest competitor which has a sizeable market cap and is now in the second position, but I prefer to suggest you to do a separate analysis before choosing the best one to trade.

Some people don't mind the risk every time they try to choose an altcoin in the short term and some even choose the shitcoin they trade, the concept even though this is discouraged many people still choose it. In essence, before making a decision you need to study how much you are prepared to lose.

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Quote from: xanto on May 26, 2023, 10:26:04 AM

I have used a lot of different cryptocurrencies in my life,but bitcoin will always remain the main one for me
Other coins may disappear but bitcoin never will

Does the coin/token's longevity even matter if we're talking about trading(and not investing) anyway? I've traded a lot of coins/tokens that I have no intention of holding for more than a month; not because they're crap and temporary doesn't automatically mean you can't make money off 'em by trading 'em.

Husires

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People's knowledge about trading does not go beyond following the social media news, or at best, following the discussions here and there, and a little bit of technical analysis news before starting trading, and here emotion plays a big role and the trader may achieve profits, but what he does is a high-risk investment that may end with a loss his money.
Therefore, you will find that the reason for investing something in a currency are flimsy reasons without an in-depth analysis, whether it is technical or why you invest in it. You will find that most of us invested in dogecoin for nothing but some tweets on Twitter, or that he made some profits and thought he was a skilled trader.
If you invest carefully, you will find that you do not diversify your investments, but rather diversify your risks, and it is a short-term investment policy, while the long-term investment will be for Bitcoin only.

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If you trade an altcoin and want to make more bitcoin than altcoin with BTC pair is good for you but these pair is fade away because some people prefer trade with stablecoin and trade with BTC pair is need to stick your head on the screen because slightly change on bitcoin price it changes a lot on altcoin with BTC pair rather than coin with stablecoin pair.

Personally, I trade with stablecoin but I also accumulate Bitcoin

sheenshane

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IMO, when it comes to trading cryptocurrency pairs, I usually consider these important factors such as liquidity, market volatility, and individual project fundamentals. Because I believe many traders focus on major pairs like BTC/USD, ETH/USD, or BTC/ETH as they tend to have higher liquidity and trading volume, making them more stable and predictable. So these pairs are also widely available on various exchanges.

Quote from: logfiles on May 26, 2023, 06:40:12 PM

I don't have any specific coin I trade, especially on futures. I mostly look for the trading pairs that are most trending or top percentage increase/loss in the last 24 hours for my trading strategy.

It's risky but I like it because this strategy will earn profit in a short period of time.
One of my friends said, "You can ride the wave of momentum and make a profit on it", which is he is also liked to trade a trending pair and he didn't care if that was pump and dump as long as monitor your positions closely. Because this was my advice, keeping an eye on trends and monitoring percentage changes can be a viable strategy if executed with discipline and careful analysis. The last thing is, there should be a stop-loss what ever strategy it is.

logfiles

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I don't have any specific coin I trade, especially on futures. I mostly look for the trading pairs that are most trending or top percentage increase/loss in the last 24 hours for my trading strategy.

As for spot
Short term, it will be shitcoins that pump and dump. Lately it has been meme coins like PEPE, LADYS, SHANG, PYSOP etc
Long term, top market cap solid coins like BTC, ETH, DOGE...

jeraldskie11

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Quote from: xanto on May 26, 2023, 10:26:04 AM

Hello
I suddenly had a question about the choice of cryptocurrency pairs for trading and I became very interested in how people trade now
I have used a lot of different cryptocurrencies in my life,but bitcoin will always remain the main one for me
Other coins may disappear but bitcoin never will
Share your experiences with different cryptocurrency pairs
Even with a good or bad ending

-Regards

When you choose a trading pair, make sure the volatility of the market is not so high because it will only hit your stop loss every time you trade. You can see that in the chart that the price action is so choppy and has a long wicks. That's why I prefer to choose trading pair in crypto that have low volatility, such as the top 10 highest marketcap. But don't jump directly in the market and trade, you must also do a back test of your strat each of them everytime you trade because they don't have the price action.

safar1980

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Ethereum should not disappear. I like the new shitcoins for mining lately. After appearing on the stock exchange, their price increases several times.
If you invest 100 dollars, then you can get 200-300 dollars and more, but this is for fun. Bitcoin or Ethereum is better for trading.

xanto

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Hello
I suddenly had a question about the choice of cryptocurrency pairs for trading and I became very interested in how people trade now
I have used a lot of different cryptocurrencies in my life,but bitcoin will always remain the main one for me
Other coins may disappear but bitcoin never will
Share your experiences with different cryptocurrency pairs
Even with a good or bad ending

-Regards

Topic: Choosing a cryptocurrency pair - page 2. (Read 316 times)