Topic: Crypto trading tips based on years of experience --- by Raja - page 2. (Read 18410 times)
Experience has thought me not to believe in anyone analysis because there don't work for me and I believe most experience traders know most of your address already except for some people who are just new to the crypto currency trading that will take all these advise serious and act on them at their own peril.
Experienced in trading for every traders are just a secondary things for us to learn here, but the main bottom reason for the traders in this field of business is to earn Bitcoin, and for us to have it we can buy directly Bitcoin in any of the platform exchange. And aside from that, We can buy altcoins for us to get bitcoin profit.
It is true we are trading crypto to gain more BTC not Fiat and most of the paid services are just a scam or a group that pumps up from their follower.
Never trust those group because it is just like entering a pyramid scheme in trading.
This is a really nice tip for the newbies in trading but of course if you have been around for a long time you might have experience this before.
Never trust those group because it is just like entering a pyramid scheme in trading.
This is a really nice tip for the newbies in trading but of course if you have been around for a long time you might have experience this before.
I can tell from my experience that I have also made many of these mistakes. I traded altcoins to Fiat and bought coins after they rose in price. And accordingly it led me to losses. But I try to constantly do work on mistakes and constantly learn something new.
Now, I also understand that trading is not only making money and getting profits as I thought before. Unfortunately, great and small losses happen all the time, especially when bears rule the market.
I can tell from my experience that I have also made many of these mistakes. I traded altcoins to Fiat and bought coins after they rose in price. And accordingly it led me to losses. But I try to constantly do work on mistakes and constantly learn something new.
11. In crypto, the good thing is, you can always make a good comeback by being wise, even if you're left with 10% money you initially invested.
Yes, comback is real! But with just 10% left from your capital, it seems that most of the people might turn their back and give up. I have a friend who have lost around 80% to his invested capital, that incident made him so drained. He sold everything thats left. It took months for him before he decided to come back and start from the bottom.
Its really hard to make a comeback after a huge loss, most specially when youre trying to persistently recover what you have lost from your portfolio. It needs a lot of patience.
do usually give up when they do almost lost out their entire capital with these kind of investment.Even myself would definitely do the same thing yet it is hard to
control your patience along the way when we already talking about money.
One of the important thing is you need to make every chances to be successful because the chances given by cryptocurrency was very very low if you use that you will be a successful person so using the opportunity always important for a trader to make his journey more better.
Thanks for your advice. They are very interesting and worth following some of them, always taking into consideration that the trader is always an eternal apprentice, and even the best available strategies should always be adapted to the personality and style of each individual trader, but undoubtedly your experience is very useful for those of us who are hardly in the process of learning in this difficult profession.
11. In crypto, the good thing is, you can always make a good comeback by being wise, even if you're left with 10% money you initially invested.
Yes, comback is real! But with just 10% left from your capital, it seems that most of the people might turn their back and give up. I have a friend who have lost around 80% to his invested capital, that incident made him so drained. He sold everything thats left. It took months for him before he decided to come back and start from the bottom.
Its really hard to make a comeback after a huge loss, most specially when youre trying to persistently recover what you have lost from your portfolio. It needs a lot of patience.
Alts are getting full-time rekt these days, and if you're trading, the following analysis could help you:
19. Always keep in mind the following pattern of BTC & Alts, as seen in past years:
*1) If bitcoin goes up heavily, all alts suffer.
*2) If bitcoin goes down heavily, all alts suffer.
*3) If bitcoin goes up slowly, only low volume alts suffer.
*4) If bitcoin goes down slowly, only volume alts suffer.
*5) If bitcoin stays sideways, every kind of alt grows.
*6) If bitcoin stays sideways for a few weeks (4+), all alts grow and low-volume alts go "absolutely" crazy.
*1) If bitcoin goes up heavily, all alts suffer.
*2) If bitcoin goes down heavily, all alts suffer.
*3) If bitcoin goes up slowly, only low volume alts suffer.
*4) If bitcoin goes down slowly, only volume alts suffer.
*5) If bitcoin stays sideways, every kind of alt grows.
*6) If bitcoin stays sideways for a few weeks (4+), all alts grow and low-volume alts go "absolutely" crazy.
Point added:
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29. Never blindly follow anyone. Even if you join any paid trading group, make sure that you DYOR before jumping into any trade.
~snip~
... And the tips here are really good, although I’m not sure of the number 1 point.
Your goal is to earn BTC and not USD? I still got to think about that, but like seriously what do you gain by focusing on earning more BTC instead of dollars? You invested/bought the BTC with USD, so your main focus should be on whether you’re making more of what you invested which is USD. Even if you didn’t make much BTC and the price goes up, you will still make more USD. If I’m wrong, correct me.
Bitcoin is undervalued. I'm sure you agree with that, don't you? If you think that bitcoin is overvalued at this point (~$3300), then you should just leave crypto (literally). Let's have an example:
-You make 0.001 BTC profit in a trade. BTC is trading at ~$3300 currently but you decide to keep that profit in USD.
-As a result, you get $3.3 in your wallet.
-Bitcoin, after a few months, gets to ~$6600.
-You realize that you could've made another 2x from the trade if you had hodl'ed your profits in BTC.
I'd recommend you to go through the fundamentals of bitcoin (again), and stack as much bitcoin as you can while it's cheap.
DON'T CARELESSLY SPEND YOUR PRECIOUS LIMITED BITCOIN ON UNLIMITED WORTHLESS FIAT!
excellent advice that is suitable even for experienced traders. Personally, I adhere to about 50% of the above rules, and nevertheless I go to the plus. I wonder what will happen if I stick to all 100%
tips that are very helpful for me a beginner in trading where often make the wrong decisions in buying or selling coins, emotions and are less able to read market trends is a gap towards losses in trading
BTC has high fluctuacion as well. So my goal is not to increasing amount of BTC but to increase balance of fiat/USDT. If we have goal BTC , we will loss value in fiat when BTC down trend. Goal to trade crypto is to increase the amount of fiat , just the same like stocks and forex trading, and by increasing the fiat and then we can use it to buy other asset that does not have high fluctuacion like real estate or properties.
If that's your aim, then I'm sorry, you don't truly understand the strength of bitcoin. Bitcoin is slowly but surely becoming the global reserve currency. Fiat is an illusion, you don't know how much of it is your government printing it up.
You might make some fiat trading bitcoin, but in the end, you'll only regret selling each and every satoshi. Try to save bitcoin, not fiat, mate!
Added a new trading tip after quite a while:
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28. Want some charting skills? Don't forget to read this free guide: The Complete Beginners Guide to Crypto Currency Trading by @BigCheds
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