Topic: Crypto trading tips? (Read 285 times)

8 must read tips for trading Bitcoin and Altcoins
Safety rules were written with blood. That statement sounds familiar to every soldier around. Although we are not dealing with a risk to human lives, losing your expensive Bitcoins by making mistakes trading is definitely not a fun situation.

So, how we can avoid those mistakes in our trading? How to be mostly on the green side? First, it is important to note that to trade right requires attention and your one hundred percent focus. Secondly, trading is not for everyone. The following tips are easy to internalize because these tips were “written in blood” (my own blood). However, it’s still difficult to apply them in real-time. After all, we are not rational human beings.

1. Have a reason before entering each trade: Start a trade only when you know why you’re starting and have a clear strategy for afterwards.
Not all traders make gains from trading, since this is a zero-sum game (for everyone who benefits someone else loses on the other side).The Altcoins market is driven by large whales (yes, the same ones responsible for placing huge blocks of hundreds of Bitcoins on the order book). The whales are just waiting patiently for innocent little fish like us to make mistakes. Even if you aspire to trade on a daily basis, sometimes it is better not to earn and do nothing, instead of jumping into the rushing water and exposing your coins to losses. From my experience, there are days where you only keep your profits by not trading at all.

2.     Target and stop when starting a trade: For each trade we must set a clear target level for taking profit and more importantly, a stop-loss level for cutting losses. A Stop-loss is setting the level of loss where the trade will get closed.

Here again, it is important considering a number of factors when choosing a stop loss level correctly. Most traders fail when they fall in love with a trade or the coin itself. They may say, “Here it will turn around, and I will get out of this trade with a minimum loss, I’m sure”. They’re letting their ego take control of them and unlike the traditional stock exchange where extreme daily movements are considered 2-3% in value, Crypto trades are a lot more riskier: in my life as a trader I’ve seen a coin dumping by 80% just in a few hours! And nobody wants to be the one who is left holding it.

3.  Meet FOMO (fear of missing out): Indeed, it really isn’t fun to see such situations from the outside – when a certain coin is being pumped up like crazy with huge two-digit gains in minutes.

That bold green candle yells at you “you are the only one not holding me”. At exactly this point you will notice lame people flooding the Crypto forums and the exchanges’ Troll boxes to talk about this pump. But what do we do now? Very simple, Keep moving forward. True, it’s possible that many may have caught the rise ahead of us and it can continue raising, but bare in mind that the whales (as mentioned above) are just waiting for small buyers on the way up to sell them the coins they bought in cheaper prices. Prices are now high and it’s clear that the current coin holders only consist of those little fish. Needless to say, the next step is usually the bright red candle which sells through the whole order book.

4. Risk Management: little pig eats a lot, big pig gets eaten. This statement tells the story of the market profits from our perspective. To be a profitable trader, you never look for the peak of the movement. You look for the small profits that will accumulate into a big one.

Manage risk wisely across your portfolio. For example, you should never invest more than small percentage of your portfolio in a non-liquid market (very high risk). To those trades we will assign greater tolerance – the stop and target levels will be chosen far from the buying level.

5. The underlying asset creates volatile market conditions: Most Altcoins are traded according to the Bitcoin value.

Bitcoin is a volatile asset (relative to FIAT) and this fact should be taken into consideration, especially in the days when the Bitcoin value is moving sharply. Bitcoin and Altcoins have an inverse relationship in their value, i.e. when the value of Bitcoin rises then Altcoins are losing their Bitcoin value, and vice versa. When Bitcoin is volatile, our conditions for trading are kind of foggy. During fog we can’t see much ahead, so it is better to have close targets for our trades or not to trade at all.

6.  Tips for trading Altcoins: Most Altcoins lose their value over time. They simply bleed their value away slowly (sometimes rapidly).

Take this into account when holding Alts for the medium and long term, and of course choose them carefully. What kind of Alts are recommended for the long term? Remember, this is only when there is a reason for making a trade. The projects/coins that have a higher daily trading volume and which have a widespread community behind them, with continuous development, are here to stay with us:

Ethereum ETH, Monero XMR, Factom FCT, DASH, are all leading coins and traded the most volume daily. You should follow the coin’s chart and identify low and stable periods. Such periods are likely to be a consolidation period by the whales, and when the right time comes, accompanied by a good press release of the project, the pump will start and they will sell in profit.

7. A word about public ICOs (crowd-sales): Many new projects choose to make a crowd-sale where they offer investors an early opportunity to buy a share of the project (tokens or coins) in what is meant to be a good price for the tokens.

The motivation for the investors is that the token will be traded from day one on the exchanges and would yield a nice profit to the ICO participants. In recent years, there have been many successful ICOs, both the project itself and especially in measuring the yield for investors. Coins doubled, or tripled, their value and much more in relation to their value on the crowd sale. Augur’s preliminary crowd-sale (we reported on it previously here) yielded investors a phenomenal 1,000% for their investment. Okay, but what’s the catch here? Not all the projects benefit their investors. Many ICOs proved to be complete scams, not only were they not being traded at all but some projects disappeared with the money and we have not heard from them right up to this day.

So how do you know if you should invest in an ICO? It’s not about science, it is important to pay attention to the level of seriousness of the project and its team. Look for the project’s website (does it look like a child has built it during computer school?), Who is the team behind the project – Are they hiding behind nicknames or proudly present themselves on their website? Pay attention to the Bitcointalk thread (does it exist at all?) and how the team members respond to technical questions. Is there a large community behind the project? Expect to see a Slack gathering its community. Watch out the amount raised: A project which had raised too little will probably will not be able to develop over time, a project which had raised huge amount – there won’t be enough investors left out there to buy coins on exchanges. And most importantly is risk management. Never put all eggs in one basket and invest too much of your portfolio in one ICO.

8.
    A final tip – practical steps to implement right away:

    Fees, fees, fees: Multiple trade actions = More fees. It’s always advisable to post the command (maker) and not to buy from the order book (taker). In Poloniex exchange, the difference is 0.1% in favor of the maker. That’s quite a bit.
    Traders with no pressure: Don’t start trading unless you have the optimal conditions to make the decision to start a trade and know when and how to get out of it. Pressure almost always creates losing trades. Wait for the next opportunity, you will get there.
    Setting goals and placing sell orders: always set your goals by putting sell orders. You don’t know when a whale will pump your coin up to catch your command (and pay a reduced fee on the “maker” side, remember?).

augur_selloff
Augur Sell-off. Losing 75% in one second and back up

A successful strategy regarding this is placing very low buy orders. About a week ago a crazy dump occurred, selling off Augor coin down to 25% of its value! After a short while the market recovered slightly and anyone who had low buy these low orders could easily double or triple their investment. Placing buy orders requires special care, don’t wake up when you’re far away from the market to find your buy order is suddenly higher than the current market price!

    Buy the rumor, sell the news. When major news sites publish articles it is usually exactly the right time to actually get out of the trade.
    You have made a good trade, but as always, the moment you sold your coin runs up again! First, meet this guy – Murphy’s Law. Secondly, read over what was written previously here and never enter position again under pressure. As long as there is profit – you are ok. Go on to your next trade and don’t find yourself losing it.
    Leave your ego aside. The goal here is not to be right on your trades, but to make a profit. Do not waste resources (time and money) to try to prove that you should’ve been entering that trade. Remember, there is no trader who never loses, at least sometimes. The equation is simple – get the total profits to be higher than the total losses.
    What is short? long? how to leverage your trades? Follow here to our crypto margin trading for beginners
    Follow our special article about five must have Crypto websites.

Yuval Gov, Last Updated On Jan 11, 2018

Basic tips for trading is Buy on Low and Sell on High
Next time you should be more specific on your question, your question above indicates that you are newbie in trading. Read more about trading disclaimer, use only your idle money to trade. Then you pick the most recommended coins which has many factors that related. Learn more about trends then learn about indicators, to perform and execute open position and close position.

The point is you have to read a lot about trading, there are a lot of e-book and video tutorial. Good luck dude

For participating free airdrops and ICO's you have to create a Eth wallet address . This post will be beneficial you to create a new myeather wallet. So I post the link here. Go any check it.
https://steemit.com/altcoins/@steemread/how-to-create-myetherwallet-to-participate-in-ico-and-free-airdrops

Here are some of my tips but it may end up a jumbled mess because of my severe ADHD when I write wall of texts but here we go!

Never ever ever buy all in at one price.. make a ladder system that becomes more risk/reward as you go.. so for example:

Lets say you wanted to buy XYZ coin at 600 sats after a 50% pullback from its all time high.. each time you buy ladder down buying double.. so for example if my first buy is at 600 sats (607 or whatever since you dont buy at round numbers).. i may buy .1 btc worth at that price then .2 btc at 500.. then .4btc at 400 and .8btc at 300..if my goal then was to only own .5 btc ill sell half the stack in profit as i move back up at a set percentage (also ladder sells up .1 btc at 500 .2 btc at 600 .4btc at 700 .8btc at 800 for example, but you can set your own goals as you see fit).  One problem I see with new traders is they invest too much into alt coins and buy too heavily at one position so if the coin tanks or the market FUDs, you have no way of cost avging.. and way too often new traders move too far in profit without actualizing any gains.. its important at all times to cover the top and bottoms of your trades even in long term hodls.

Always trade on BTC or ETH comparitive value and not USD value.. this will cremate your portfolio gains if you ignore this more than anything else... look at NEO and Ripple's charts especially last year on coinmarketcap.... USD value should only be used if you are selling and cashing out right then cuz other wise the comparitive value wont really help.

Use Binance for lower fees (and if youre using Binance purchase BNB tokens so the fees are halved), youd be surprised how many people don't do this.. as I can tell what my referrals are doing.. and almost half don't have any BNB tokens.

Donot  be greedy.. greed is the same type of thing that will lead to you panic selling on the other side... set goals and don't be afraid to step out.. some coins you sell over the course of a few years will absolutely moon on you and you will miss the boat.. but most won't and its best to not get greedy when it comes to actualizing profit.

Charts are a measure of human sentiment.. often times people look for reasons to justify price going up or down so they attach reasons like news, announcements or fud to justify price action.. most of the reason people buy and sell though is based off of chart position and certain percentages of people do X, Y, or Z depending on A, B, C charts.. charts often arent emotional and should be viewed without too much reason why you think its going up or down from an exterior source.

DO not buy things on parabolic runups.. anything in elliot wave formation is likely to tip over on you.. its just not worth it chasing green candles.. and you can get severely burned by this.... the same type of person who buys on a run up is the same that will sell when it tips over at a loss.. just don't do it..

Do not sell at a loss unless in an extreme situation.. most things in crypto go up and down severely from day to day.. to avoid bag holding or panic selling do as mentioned above, do NOT buy coins again in parabolic run ups or all in at one purchase price.

Don't participate in pump and dumps.. you will never be in on all of the information needed to be profitable and its just a scummy thing to do... you will get burned and likely should because this type of behavior doesn't help the community.

Don't buy things without doing your own research.. at the end of the day you control your investments.. and have to decide what coins have the longest lasting power.. most all coins will make you money but the projects potential will often decide the coin's ceiling... listening to people here or on telegram or youtube will all be somewhat biased and will lead shilling, paid advertisements, or whatever.  At the end of the day if you want to do this for a living or seriously you're gonna have to decide whats best for you.  A teacher said once to me "Put yourself first, because absolutely no one else will put you first"... and I think its good advice.

One bonus trading tip:  Don't get too attached to coins.. at the end of the day you're trying to better your situation not the situation of a million dollar + company.. so don't start preaching about coins, or falling in love with them, or wearing their apparel etc.. Be on Team you.. be a good person, do your resource, dont participate in pump and dumps, dont chase green candles, and don't be too greedy.

Hope some of this helps.

research your coin.

have the founders done prior successful tech projects?
read their white paper
do you see mass adoption of their product  in the future?.

*Being demanding and involved in their goals, targets and road map
*Understanding the current block chain scenario. A plant can’t grow if it’s not in the right land.
* Understanding the context will help any project to improve their product.
*Being responsive with the feedback from users and investors. Being open to changes and improves.
*Knowing their potential competitors to understand their strategies and offer a added value and anticipate moves.

Элeмeнтapнo кyпи дeшeвo пpoдaй дopoгo!Ho нe вcё тaк лeгкo кaк кaжeтcя нe зpя люди гoдaми этoмy yчaтcя=)

Hmm don't listen to people about what they think about a certain coin. Do your own research. (This is good advice if you plan spending your time on reddit lmao. And btw don't annoy the mods on /r/cryptocurrency or they'll ban your ass off  )

Have a specific plan– something better than "buy some coins and wait til I'm rich."

You should be able to answer these two questions above all else:
1. How much am I comfortable losing?  What's your plan if (actually, when) coins tank? Cut your losses?  Or buy more?
2. What's my exit plan?  Cash out when you've made back your investment and reinvest the rest?  If you never sell, you never make money.  You can hodl BTC forever- or you can cash out some gains at predetermined price levels.  Pick a risk/reward balance you can realistically follow.

Go ahead and write them down.  Put it on a sticky note on your desk.  This way when you wake up to see your holdings are down 30% you don't panic sell.  You don't even think.  You have your plan in front of you.

"bullish ONLY"...not necessarily, depends on the type of trading you are doing. There are very profitable options when the market is bearish

the no one tip is to have patience, never sell in panic.

For me some of the most difficult things I run into is understanding Crypto Currency Metrics. I think it would be helpful to have some hints on evaluating a coin based on its metrics. Are there any takers?

Never sell in the red and take a loss. Research your coins before buying and look at the charts to find a good entry point. Always ONLY use money you are willing to lose.

Good luck and happy trading.




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** Coins Portfolio **
#CPY - CopyTrack ICO
#ADA - Cardano
#XLM - Stellar
#MOBI - Mobius
#RMT - SureRemit
#BTC - Bitcoin
#ETH - Ethereum

What ever you do don't day trade.  Just research to find most promising coins and HODL.  Don't listen to anyone that tells you otherwise.

Well for starters get a GDAX account https://coinbase.oauth.authorize.watchdl.me

1) Dont buy too much different coins
2) Don't invest money that you not ready to lose
3) Monitor news about coins, and purchase those coins that have some promising upcoming events.
4) When purchased coins - dont' sell them immidiately if prices went down. In my opinion better to keep coins for a long term.

Caмый глaвный coвeт oбpaтитecь к знaкoмым кoтopыe зaнимaютcя в этoй cфepe нe пepвый дeнь!Ecли oни кoнeчнo жe y вac ecть.

I found this site to very very informative on trading, not just the basics of trading but tools you can use to chart and analyze waves in order to be more successful. Hope it helps  

bit.ly/CryptoTradingTips

Most important to me is money management.

That's a very broad question. Here are a few:

1. Make sure you know something about what you're buying. Don't go into it blindly.
2. Don't stop with Bitcoin. Look into the altcoins
3. Get to know this space as an industry, not a speculator's playground.
4. Network and build relationships. That's where your greatest assets and capital lie.
5. Be cautious about leaving large amounts of funds on exchanges.
6. Only invest what you can afford to lose.
7. Use Dollar cost averaging to get into good long term positions.

How's that for a start?