Topic: [GUIDE] How to achieve good profits with Cryptocurrency trading - page 2. (Read 364 times)
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.
All things that you mention are correct and maybe the people will might use this guideline to become good and wise trader. I have been creating my own guideline or strategies so in the future I can become successful trader and right now I keep on asking my friend to help me because he is also a good trader. Maybe in choosing exchange site you should use the major exchange for better trading experience.
I love the way you acknowledge and respect the elders in trade, but even if I already have the necessary knowledge and skills, I think I can still pick one or two things to hold on to from your little tip, but just that your topic does not speak of what your article is all about.
At first when I saw your title, I was thinking you want to expose to me a strategy that will enable me better my own, or make more money and then I realized that your tips was a tutorial and an advanced one for that matter, so if you say already skilled people should ignore it, I think this tutorial is meant for them, as they will be the one to easily understand what you are saying.
At first when I saw your title, I was thinking you want to expose to me a strategy that will enable me better my own, or make more money and then I realized that your tips was a tutorial and an advanced one for that matter, so if you say already skilled people should ignore it, I think this tutorial is meant for them, as they will be the one to easily understand what you are saying.
overall what the OP explained was not wrong, even some of them were very precise.
but if you are really involved in active trading now, you will be surprised by the current price changes.
trading is not as easy as you imagine even choosing coins at CMC is not easy, let alone trading in new altcoins and based on their ICO prices. it will bankrupt you quickly
but if you are really involved in active trading now, you will be surprised by the current price changes.
trading is not as easy as you imagine even choosing coins at CMC is not easy, let alone trading in new altcoins and based on their ICO prices. it will bankrupt you quickly
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.
Also, hedging your capital is always the best option to have the best profit. Rest assured that once you have already entered the market as a trader, your experiences will build you as a good trader. I learned that without experiences, being a good trader is nearly impossible.
Also, hedging your capital is always the best option to have the best profit. Rest assured that once you have already entered the market as a trader, your experiences will build you as a good trader. I learned that without experiences, being a good trader is nearly impossible.
Is it will be like confidence giving topic and that some people struggling in this situation to make the profit because of the market is not stable when it was not stable the difficulties are increased for the traders to make the transaction easily but using some good strategies we will definitely get the profit in this situation also.
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.
Experience will make you grow in trading, as a newbie in trading it will be up to you on how will you grow as a trader. Take your failure as a way to learn, experience and knowledge may come at a cost sometimes.
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Honestly newbies no need to be technical during the process.
After learning the basics, they will learned automatically those "other things" on the way that can help them become a good trader.
Experienced will be their foundation.
After learning the basics, they will learned automatically those "other things" on the way that can help them become a good trader.
Experienced will be their foundation.
Experience will make you grow in trading, as a newbie in trading it will be up to you on how will you grow as a trader. Take your failure as a way to learn, experience and knowledge may come at a cost sometimes.
Also consider to read some of their White Papers and know if the coin is worth your time and will actually have some potential.
Not necessarily especially with the new projects today.
It will just create confusions and expectations. Focus instead to the study of coin's volume and behaviour in a given period of time.
Overall, your pointers can be used as reference. That's good.
Well, this looks like this will.be effective on advance users here in the forum. A newbie will be having hard time for this.
That's why they called "newbie".
They need to start as small and work their way up.
Honestly newbies no need to be technical during the process.
After learning the basics, they will learned automatically those "other things" on the way that can help them become a good trader.
Experienced will be their foundation.
Well, this looks like this will.be effective on advance users here in the forum. A newbie will be having hard time for this.
Anyway, a good exchange will be probably from the local meaning an exchange that were basing in your country as much as possible will be advantage in trading. There are trading sites also suggested in facebook wall or newsfeed and had seen many of it already.
Anyway, a good exchange will be probably from the local meaning an exchange that were basing in your country as much as possible will be advantage in trading. There are trading sites also suggested in facebook wall or newsfeed and had seen many of it already.
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.
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.
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