Topic: [GUIDE] How to achieve good profits with Cryptocurrency trading (Read 364 times)

That is a very common things and some of the basic in trading, but in order to understand more you need to look for the trends and learn about candle stick, if you are new try to follow free group advice, see how they predict and learn about it, group advice only can act as reference don't go all in on what they said, and to become a better traders you need to build experience, theory and practical can be different, at that point you need your experience to make the best judgement

Being a trader is not easy as anyone imagine becauss the market is full of hype people and everything can be change in a short period of time. This tips and strategy is a good example that every trader need to learn you can also use tradingview to monitor the flow of altcoin to think when the right time to enter this coins.

You should not go into trading because of what you read online but because you are very ready to learn through demo and were able to develop strategies that will give profits.  The plan to make a good strategy is far better than making profits as loses is also part of successful investments.

You should not go into trading because of what you read online but because you are very ready to learn through demo and were able to develop strategies that will give profits.  The plan to make a good strategy is far better than making profits as loses is also part of successful investments.

You're right, but the thing is that when the majority of the people pay attention to the same sites, regardless of how good or bad they are, they will matter. In case of Coinmarketcap, it really does matter.

If you already have the skills and knowledge to achieve it you can ignore this topic.

By this time you probably already heard of cryptocurrencies Trading.
But what does this trading really means?

Trading:
Well in theory trading is when you get something from an individual who you have just gave something to him as well.
In practice, and by practice i mean in the crypto market or any kind of market, you buy some cryptocurrencies from someone and that someone gets your money as an exchange. (Someone can be an individual, a company or something else). On the same way when you sell you give your coins to an individual and that individual gives you money as an exchange.

How trading affects the market (prices / volume):
When you buy some cryptocurrency (Alt Coins especially since they have their prices lower and fluctuate most of the time (volatile)) price of the coin goes up.
The reason why is because the demand for the stock goes up and so Sellers will ask for a newer higher price from the one they bought (there will be less coins to offer).
And so does vice versa (selling -> price goes down because they will lower the sell price - there will be more coins to offer).

Which coins should you buy / sell:
For you to know which coins you should buy or sell to get most of the profits, you should follow some trading information sheet as https://coinmarketcap.com/ for example.
Consider that has alot of Circulating Supply and Volume (24h). These 2 informations state if a coin is dead or basically active on the market.
If you do start trading with a dead coin you will probabily end up with lower price for selling (vs the one you actually bought) and lose some profit since there will not be so much activity with it.
Also consider to read some of their White Papers and know if the coin is worth your time and will actually have some potential.


You can use for example Coinbase pro for your tradings. As it's trustable and reliable till current moment.
DISCLAIMER: I'm not advertising any exchange site, just some feedback from my own.


If you do think i have explained some of the basics about trading feel free to correct me and thank you.
Also suggest some other good exchanges for trading.

I would advise against using websites such as Coinmarketcap.com to get any trading related information such as volume, ranking, ... if you want that kind of information then just visit the exchange that you are already using instead. these sites are only good if you wanted to find a specific altcoin in their search engine and figure out where it is listed so that you can trade it there. otherwise they usually fake volume, they have pretty bad design for ranking coins (since it is based on market cap) and they can be very misleading specially to newcomers.

Well your guide is pretty basic one. I don't think trading cryptocurrencies is such an easy job. What you have written sound good in theory however in practice it is not possible to make profits just by studying circulating supply and volume. Also you said reading whitepaper will help in trading but WP basically help in choosing ICOs/IEOs, once coin is trading on exchange and project is executed, studying whitepaper almost become irrelevant.
Now coming to Coinbase. No doubt Coinbase is one of the biggest exchange cum wallet and quite popular but the problem is limited choice. Not many of the cryptocurrencies are listed on Coinbase hence it would be difficult to switch between different coins.

Being a trader is not easy as anyone imagine becauss the market is full of hype people and everything can be change in a short period of time.

Simply: avoiding any currency that rises madly.

Consider that has alot of Circulating Supply and Volume (24h). These 2 informations state if a coin is dead or basically active on the market.

If you already have the skills and knowledge to achieve it you can ignore this topic.

By this time you probably already heard of cryptocurrencies Trading.
But what does this trading really means?

Trading:
Well in theory trading is when you get something from an individual who you have just gave something to him as well.
In practice, and by practice i mean in the crypto market or any kind of market, you buy some cryptocurrencies from someone and that someone gets your money as an exchange. (Someone can be an individual, a company or something else). On the same way when you sell you give your coins to an individual and that individual gives you money as an exchange.

How trading affects the market (prices / volume):
When you buy some cryptocurrency (Alt Coins especially since they have their prices lower and fluctuate most of the time (volatile)) price of the coin goes up.
The reason why is because the demand for the stock goes up and so Sellers will ask for a newer higher price from the one they bought (there will be less coins to offer).
And so does vice versa (selling -> price goes down because they will lower the sell price - there will be more coins to offer).

Which coins should you buy / sell:
For you to know which coins you should buy or sell to get most of the profits, you should follow some trading information sheet as https://coinmarketcap.com/ for example.
Consider that has alot of Circulating Supply and Volume (24h). These 2 informations state if a coin is dead or basically active on the market.
If you do start trading with a dead coin you will probabily end up with lower price for selling (vs the one you actually bought) and lose some profit since there will not be so much activity with it.
Also consider to read some of their White Papers and know if the coin is worth your time and will actually have some potential.


You can use for example Coinbase pro for your tradings. As it's trustable and reliable till current moment.
DISCLAIMER: I'm not advertising any exchange site, just some feedback from my own.


If you do think i have explained some of the basics about trading feel free to correct me and thank you.
Also suggest some other good exchanges for trading.

I cannot really consider my self an active trader since most of my trades were from my bounties. When I was new in this forum I honestly don't know what to do with my bounty how to trade, and how to consider which price and even the interface of the platform is new to me. Good thing there are guides like this that helped me thru and learned about the basics of trading.

If you want to have an effective trading career in cryptocurrency, then sleeping is for the losers. Since the cryptocurrency market is so much volatile, sleeping for an hour would cause you to lose a lot of profit already. Some people manage their sleep and using their analyzation skills to know when to sleep to avoid losing profits.