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

Yeah good suggestion which are really necessary for a trader but after all those skill development every trader have to apply their own judgement.

To be a successful trader you must have some special things which will build up with your past experience of trading. I always prefer to choose best projects with strong background otherwise all you skill and experience will not work. Some people think that trading is a game of luck but i will say that its kinda 90% traders skill, 5% market condition and 5% luck fact.

I think that is how things work when it comes to assets that are famous for their profitability. You achieve great profits in trading if your cost of investment is the lowest and the price moves up high. However the prospects of high profits fades away when your cost of investment is high. Yeah hype does excite people and make them make emotional decision but with the passage of time, you end up making good understanding about trading in crypto.

People’s opinion would be the worst strategy for one to ever use in trading, when we follow people’s opinion through what we see online, we will get too excited and won’t face the real reality of the live trade, I have followed online opinions and I have been burnt several times before learning, but I am not saying that one should not follow experts online, one should only follow them to learnt their strategies but not rely on what they tell us alone.

We need our own strategy like you said to be able to fully invest successfully, and the best way to now is our strategy is ripe enough to go live into trading, there will be need to have enough practice through the demo practice.

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

 Trading is about willingness and eagerness to learn the fundamentals to create sensible strategy that give a way to claim good profits. In fact, many traders are aware the consequences when we are lack of wisdom and in order to be a successful we have to be wise and knowledgeable on dealing trade to evade from loses.

Despite of all the allegations, they still the most visit site in cryptos, maybe because it's the pioneer in that field and sure there's still some that use it as a guide. Personally, checking the CMC is almost a habit for me though I don't fully depend on it.

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The guide is realistic but bare in mind that this couldn't guarantee a profit. Losses is inevitable.

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.

It's so easy to achieve good profit in trading, but you would need to make some sacrifice which is spending most of your time to understand the market, because once you are able to understand the crypto market, you will be able to make profit at all time even in a bearish market, one just have to make that sacrifice which is very hard for a lot of people to make because it is very time consuming, though I would advise traders to do it.

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.

There is the so called first, second and third page effect. The higher up the list you are, the more traffic you can expect, and thus more people will be tempted to invest in your project.

I dislike seeing these sites have that much importance nowadays, but things are as they are. Coinmarketcap is currently in the top 500 websites of the world, ranked as nr 478 right now.

Dont know whats the point on trying to check out WP when the coin is already on exchangers and as you said its totally relevant on having these kind of
study.This is indeed a basic guide which most people do really know about this one or simply theres nothing special with these words. Achieving good profits would
vary on each trader yet we do know that each do have its own ways and application with their own trades.

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.

Maybe you could add one more tips.
Just stick with the top 50 coin lists from the coinmarketcap, and then search on the exchange on their price, how good the price is up and down so you will have a sign to get in and get out from the coin.
From that top 50 coin list, you will have so many coins that could be profitable especially if you have skills to analyze one by one of the coin.
I am sure that you will more than 5 profitable coin to buy and sell so you can achieve good profits.

This is surely the risk factor in this trading. You look like an experienced trader to have pointed this .In trying to make profit, a trader is suppose to also understand something about this because nobody has the monopoly of what next will happen as soon as you trigger your order. We need to trade as our finance is capable.

Are you saying that traders need to avoid BTC, ETH and other popular cryptocurrencies since they rise drastically in value now and then? Hilarious. It is possible to earn huge profits from shit coins too, but the risk is far higher when compared to investing in popular crypto like BTC.

The 'Invest only what you are willing to lose' rule applies to every coin including BTC.

Well that’s if you don’t go for the coins at level 2000 just because you’re trying to buy cheap coins. If you don’t know what you’re doing, it would be best for you if you just buy coins at the top like Ethereum or Bitcoin (and others too) instead of taking the risk of buying a coin that would just end up being worthless and considered shit at last. Sometimes I don’t even have time for any other coin except Bitcoin alone, I’d just go for only Bitcoin and nothing else.

The best advice for a beginner is to hodl Bitcoin and learn a lot more before thinking about investing and then start with small investments.
(Don’t Invest more than you can lose)

lots of platforms and currencies are faking them volume. Also, do not forget airdrop/forks/dead coin may lead to losses.
Simply: avoiding any currency that rises madly.
Dependence on the capacity of the market will lead to losses so I do not recommend: https://coinmarketcap.com/

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.

yes I agree this point because everyone is going and running faster for only money making so especially as a trader we have to work more and more than other jobs and it will not give any time for rest in any time the opportunity became so we need to use it like life changing opportunity.

Until now, I still don’t trade with the coins or tokens I got through bounty, I have been leaving a lot of them in my wallet for them to grow and catch them out when the bull run comes and I have never thought of using them for trading despite the fact I trade with other coins like BTC, I think this tutorial is also an eye opener to me.

This has made me see the possibility of trading with my bounty coins instead of just keeping them, now that bull run for altcoins is still quite far, because I think until after BTC finishes his own bull run before altcoins can start rising after its consolidation.

To this area of sleeping and not watch over your trade, I think sleep or no sleep won't cause an expert trader to lose profit. In fact, too much of watching over your trade can easily bring up some panic.

There are some techniques to apply or use to make you maximize your profit or not to lose beyond what you want to risk. For example, you can apply take profit or stop loss.

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.

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 

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.

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.

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.

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That's why they called "newbie".

They need to start as small and work their way up.

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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.

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.

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.