The vast majority of the trade-able coins are only paired with BTC and/or ETH, so you will not be able to buy them vs fiat or sell them for fiat.
At some point you will have to think your strategies considering BTC or ETH as base and forget about USD.
USD matters only when you want to exchange coins back to money and that you can do only trough BTC or ETH most of the times.
Topic: Crypto Trading why? Any help here please! (Read 130 times)
Welcome to zero gravity trading. You are used to having a 'ground' (say USD). Now you have many many grounds, depending which way you wanna go.
If you want to start off simple, try doing some trades and coming back to USDT. Then expand to have BTC, ETH or NEO as your new 'multiground'.
At some point, you'll forget about USD and try increasing one (or some) of the new grounds. You believe ETH will go well, for a bit, so you set that. And try to accumulate ETH one week.
The you'll see a dip in NEO, and decide to trade that for a bit as well.
If you want to start off simple, try doing some trades and coming back to USDT. Then expand to have BTC, ETH or NEO as your new 'multiground'.
At some point, you'll forget about USD and try increasing one (or some) of the new grounds. You believe ETH will go well, for a bit, so you set that. And try to accumulate ETH one week.
The you'll see a dip in NEO, and decide to trade that for a bit as well.
Ive traded stocks. Ive traded forex. Ive traded back rubs. And my business is online estate liquidations so one might say safely I have done some trading.
Im confused as heck though. Ive been wrapping my head around this crypto thing with the recent run up and the massive bubble pop still going on and looked into actually trading in it a bit. There is one super confusing thing that has me not pulling the trigger. The fact that you cant trade with USD. I understand the process. Buy Btc or Eth with USD. Transfer that coin to an exchange that offers many other alt coins for trade. Then pick a winner or loser and go with it.
The problem? How can you come out good in this type environment? Say you bought $1000 USD worth of Ethereum this morning at $1000/1. So you now own 1 Ethereum. You see ripple trending down burn half your etherium short selling ripple at $1.36. So now you own .5 etherium and 367 ripple. You buy out your short at $1.25 making 11 cents for a $40 increase but as we all know.........you are trading back for the current value in Etherium. Which has just gone down 9%. So what was worth $540 minutes ago......the $500 worth of 367 ripple plus the $40 profit you turned shorting it you are now putting back into etherium that is now priced at $920. If all things were considered equal then that is .58 etherium added to your point .5 you did not trade. So now you have a grand total of 1.08 etherium and you are up on the day..............on etherium at least? Except that is now worth $993.
And now I know the above doesnt exactly work this way as the value of one alt coin to the next is going up and down based on their value related to each other and not the USD..........but when the goal for me is USD I watch the tickers in USD value when I make decisions to buy or sell.
Point being how do you play this game when there is not one thing stable about any of the prices you are working with or sitting on currently?
Im confused as heck though. Ive been wrapping my head around this crypto thing with the recent run up and the massive bubble pop still going on and looked into actually trading in it a bit. There is one super confusing thing that has me not pulling the trigger. The fact that you cant trade with USD. I understand the process. Buy Btc or Eth with USD. Transfer that coin to an exchange that offers many other alt coins for trade. Then pick a winner or loser and go with it.
The problem? How can you come out good in this type environment? Say you bought $1000 USD worth of Ethereum this morning at $1000/1. So you now own 1 Ethereum. You see ripple trending down burn half your etherium short selling ripple at $1.36. So now you own .5 etherium and 367 ripple. You buy out your short at $1.25 making 11 cents for a $40 increase but as we all know.........you are trading back for the current value in Etherium. Which has just gone down 9%. So what was worth $540 minutes ago......the $500 worth of 367 ripple plus the $40 profit you turned shorting it you are now putting back into etherium that is now priced at $920. If all things were considered equal then that is .58 etherium added to your point .5 you did not trade. So now you have a grand total of 1.08 etherium and you are up on the day..............on etherium at least? Except that is now worth $993.
And now I know the above doesnt exactly work this way as the value of one alt coin to the next is going up and down based on their value related to each other and not the USD..........but when the goal for me is USD I watch the tickers in USD value when I make decisions to buy or sell.
Point being how do you play this game when there is not one thing stable about any of the prices you are working with or sitting on currently?
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