Topic: Guidance to trade altcoin - page 2. (Read 532 times)

For sure, you are not the only one who experienced that. There are more stories about being new
and randomly following those tips from social media or some influencers who self claimed that know the business well.

There are many pump groups who'll provide free tips, and by monitoring the actions from the exchange
you'll be convince but when you start following you will realize that it's more on losing your money.

Experienced will start opening your mind and lead you to plan ahead before dealing with any trades.

The ability to choose assets is the main thing that a trader must-have.
the concept is simple, buy, trade, and sell profit.
in practice, it is not that easy. but to get more insightful knowledge must also be added with direct trading experience in the market. some exchanges have a demo feature that can be used. and it really helps us to gain experience in trading.

Many have given all the necessary advice but here is another thing you should put in mind.
Altcoins are difficult to trade because of high volatility they possess for long period of time, it's always difficult to hold supports and resistances unlike the Bitcoin and other high level coin on market cap.
Though, you can choose to scalp them especially when they are fundamentally bullish, it's so profitable to easily roll in and out of the market but be cautious of that as well.
Avoid shitcoins, they get pump hard but the reverse will send you bad image of trading, you wouldn't want to try them. Gold luck.

Tip: Don't forget reward/risk ratio, it's very essential in every trade.

Expect the unexpected, you may never know the future.I can advise you to be vigilant, research the coin you want to invest in. and choose your style for trading either short term or long term
short term:
*fast winning/ fast losses
*bigger risk with fast rewards proportionate of bigger investments
*doesnt take time as it is instant trading on the spot

long term:
*takes patience
*needs resilience of will to avoid FUD
*takes time

I hope it helps, It is only based on my experience

A plan is a must when you're investing with your hard earned money. You just don't go with the flow and whatever they say, they're going to give you tips of what you must buy. I've done that before and listened to random people that shilled their tokens and in the end, I was stuck with a loss and that's why it's important to still rely on yourself and you do your own research and look for better guides not just with random tips that you're reading on different platforms.

As a beginner, it's really hard to pick coins to invest your money, it's true that the right guide is your own self.
You need to take down all the notes in properly sorting projects that have real case usages, coins that mostly invested
by people who believes that the development of the project will bring success.

Proper sets of plan as you go deeper into this industry, chances that knowledge will develop inside you and good
anticipation will rely on the instinct that you learn, coming from experiences that you'll going to have during your stay.

there are several channels, websites and materials to read to learn how to trade. don't just trade if you don't understand the process. else, you can be a long term trader. buy a token and allow it to rest in your wallet. leave it for a very long time. you will never regret it. please do not invest in new projects with little or no prospect. try invest in projects with future. already developed projects. even if you don't want to trade, invest your funds. it will go a long way.

Your guide is going to be your inner self. Your knowledge of the market will guide you as you go through different altcoins in the market. It's going to be your thing as you invest in altcoins. You're asking things like everyone else because it's hard to know what coins will be existing for years. But you already have a hint and what are those will be because they're at the top but not all of those at the top will retain their position in the upcoming years.

And I will disagree with this notion, people think that if they invest in projects that are being hyped up then they can make money but this is the fastest way to lose it, you are depending on the bubble to keep going while you are investing in the coin very late, this is simply bad, at some point this tactic is going to catch up with you and you are going to lose your capital, especially since you are recommending this tactic to someone that does not know anything about the market.

Altcoins are a bit more volatile, it is really not advised to start with altcoins directly, it should be always btc-usd pair when you are first starting, otherwise you will be burned out very quickly and there isn't much to do after that. I personally started with btc myself and I did a decent return from my investment before I moved to ETH and that was a great decision as well, then I just spread my profits to many different coins.

Trading an altcoin starts with knowing the history of it, why it moved up that one time, why it crashed the other time, not just charts but also knowing what happened to make that chart look like that, it would be a great help. After that you can use what you learned from bitcoin trading and the history of the coin into trading it for profit.

If you want to become a successful trader you should study indicators and make up your own strategy. Also try to investigate first of all the general situation (Bitcoin's movements and current trends), and then project themselves (docs, ideas, functions, team).
You had better look at coinmarketcap table top-100 first, maybe you will find something interesting for you there.

We can say for sure that mainstream currencies will exist and have a future. But you shouldn't invest everything only in them. First of all, it is not very profitable, because they already have big market caps and it is difficult for them to increase significantly. So try to diversify and invest about 10% of your capital in different risky but popular and promising altcoins. I would name Tezos, Vechain, Cosmos, Cardano, Polkadot, Solana.

If you are wondering about tokens that are popular now and might be successful in mid-term,I would rather recommend tokens of NFT-projects and games. Such as EGGs, Axie, PVU, BOT (just my list). I think that it is quite a good strategy to invest in trends, as when something is in hype, people go there and bring their capitals, as a result big rises.

I understand your enthusiasm as this market is bound to change the world and you want to be part of it, however you are not ready to trade altcoins at all, begin your journey with bitcoin and only once you have proven to yourself that you can obtain profits consistently then you can move to altcoins, if you try to run before you know how to walk you are going to fall down and lose so much of your capital that it will be impossible for you to ever recover.

You need to learn about crypto trading first then you can trade any altcoins, I suggest you should watch YouTube videos for more guidance in which you will learn how to trade and good altcoin. So first you should join a good exchange like Binance after that choose the top 10 altcoins from coinmarketcap, as a beginner you should invest in these coins.

if you want a good coin for future, i will suggest to rely with some alternative coin that keep making good progress nowadays, wherein despite of the situation they're making good results along with some trusted projects in the market.. Not those  showings references but somethings after all  there's no good results after all..  Be smart enough and always focus to the project where you can really obtained good return after all because that's the most important.. Stay away to some scam or from frauds project..

You are actually trying to tell us that you want to invest in altcoins that will not end up being a scam which I think is a very good idea. It is high time people start to invest in cryptocurrency to get a better reward especially if the coin is a good coin.

My advice for you is to make research online on good coins that are already in a good exchange that have a good possibility of giving you a good reward. You can always go for coin like bnb, Solena, Matic token, Ethereum and other good coins. There is risk attached when investing in cryptocurrency, just try as much to measure your risks before buying any coin then you can spot trade it which is not that risky like future trading.

Let me list out few best coins which are very less in price. Go with Matic, ADA, TRX, WOO and WRX. Other best coins like BTC, ETH and BNB. So check your balance. Based on what you have, you can choose any of these coins. Yes are best coins with good market cap in all best exchanges. You have to be very patient enough to wait to see the profit. Patience is the key to succeed in trading.

I just want to give you one friendly advice as a member of the forum just don't go for altcoins at all as many of them available in the market are not going to progress at all and your funds and security are at stake.If you want to invest and don't have any knowledge to identify a scam project or shitcoin then don't go for them and invest in Bitcoin only and you will get good returns.You might have to wait for some time and handle some panic sell off during all these years but after it you will not regret.

The amount you want to invest in altcoins could be diversified to bitcoin as it's not necessary to stack one full bitcoin and you could stacks satoshis also.

For instance at this time if you want to invest in bitcoin at approximately $48k you would get :

$100 -  0.00208BTC
$200 - 0.00416BTC
$300 -  0.00525BTC
 and so on

If you make past comparison you would get idea that bitcoin has given more than 300% annual growth to holders and have gone up by reaching ATL of $3k in 2017 and now still trading above $47k at this time.It has survived many dips and crash situation and no other altcoin is capable of that.Your $100 or even low investment at this time could make your networth enough by Just holding your coins safe in some hardware wallet like Ledger Nano S or Trezor when prices will be above $100k your profits would be 3x so just think wisely.

Before you can begin trading altcoins, you need to buy Bitcoin or a stable coin
Transfer Your Money To An Exchange which is very reliable in terms of security and trust.
Shortlist Your Altcoins. Ensure you do proper research on the altcoins you wish to trade.
Invest wisely .Monitor Your Gains.Do not be greedy ,there is always opportunity in the market
Sell Up When You're Ready. Cash Out because without cash out you are just counting numbers.