Topic: How Do Price trackers Help You Make a Trading Decision? - page 2. (Read 339 times)
If you need to track the price, you simply need to access the coinmarketcap. But if you need data to trade, you must access the data of the trading platform.
Quote from: kidis
many traders don't use price trackers such as CMC and go directly to the exchanges where they prefer to trade.
I never heard any traders who don't use price tracker I think almost all traders are using price tracker except for believers who believe in the specific coin. They are directly buying it on exchanges as their own investment and believe to get rich instantly.He's not saying that traders aren't using price trackers. He is saying that traders don't use CMC as price tracker but go directly to the exchange they use, which makes perfect sense.
It makes zero sense for anyone to use CMC as price tracker because it's 1) delayed mostly, 2) is a combination of multiple exchange prices, and 3) tends to be inaccurate due to API connection errors. CMC is just an easy way to get an overall view of how the market as a whole performs, which is how I use it. The other feature I use is the historical snapshot feature that allows me to see what the prices and market caps were years ago.
In a nutshell, using tradingview provides way more utility and seems to be the most popular price tracking/charting source.
Hello everyone.
really interested in the question above because as I see, many traders don't use price trackers such as CMC and go directly to the exchanges where they prefer to trade. Or am I wrong?
Well, if you are to go on a live trade, what is the point opening coinmarketcap again, traders would just simply log in to their trading platform and get any information they wish to get on it since they are making use of the platform at that time. Coinmarketcap is only more useful when you just briefly want to check the status of coins when you are not having anything to do on the trading platform just to keep yourself abreast of information. really interested in the question above because as I see, many traders don't use price trackers such as CMC and go directly to the exchanges where they prefer to trade. Or am I wrong?
Just like I do, before I start posting anything on this forum, what I do first is to go to CMC and not exchange to get current status of bitcoin price in case I bump into any discussion where I have to mention it, to do that on exchange is not worth it because you have to log in to have full view.
Hello everyone.
really interested in the question above because as I see, many traders don't use price trackers such as CMC and go directly to the exchanges where they prefer to trade. Or am I wrong?
Since we are into trading and we watch out for the movement of the coins that we have in our bags it would help traders to see how much they already gained or loss just by looking at their tracker. One app that I usually see that traders download to their smart phone is Blockfollio because there you input the price of the coin by the time you bought it and you will easily see the % if you gained profits or not.really interested in the question above because as I see, many traders don't use price trackers such as CMC and go directly to the exchanges where they prefer to trade. Or am I wrong?
Others just use a simple journal that they can bring anywhere, they write down the price of the coins by the time they bought it and compare to the current price, old school you may say but it still works and practiced by a lot of traders.
Quote from: kidis
many traders don't use price trackers such as CMC and go directly to the exchanges where they prefer to trade.
I never heard any traders who don't use price tracker I think almost all traders are using price tracker except for believers who believe in the specific coin. They are directly buying it on exchanges as their own investment and believe to get rich instantly.True,i dont see for traders not to use up any tracker yet these people do really need to track price actively compared to those people who do just simply hold up with their coins.
Ive been visiting CMC once in a while when checking out some alt prices and preev.com for btc price.When im on mobile i do make use of blockfolio on checking out my current holdings with specific prices of each coin.
Price tracker is always important for traders to monitor the price movement of bitcoin or altcoin because you will miss the opportunity to buy low price.
Remember that traders are always "buy low and sell high" to make a profit.
Sample the price yesterday is $9000 and today is $10,400 so how do you know the price of bitcoin yesterday if you don't check CMC or coingeko. If you are a trader and bought bitcoin yesterday at $9000 and sold it today at $10,400 you already made a profit. So price tracker is very important in trading so don't forget to use them.
Remember that traders are always "buy low and sell high" to make a profit.
Sample the price yesterday is $9000 and today is $10,400 so how do you know the price of bitcoin yesterday if you don't check CMC or coingeko. If you are a trader and bought bitcoin yesterday at $9000 and sold it today at $10,400 you already made a profit. So price tracker is very important in trading so don't forget to use them.
Quote from: kidis
many traders don't use price trackers such as CMC and go directly to the exchanges where they prefer to trade.
I never heard any traders who don't use price tracker I think almost all traders are using price tracker except for believers who believe in the specific coin. They are directly buying it on exchanges as their own investment and believe to get rich instantly.
Hello everyone.
really interested in the question above because as I see, many traders don't use price trackers such as CMC and go directly to the exchanges where they prefer to trade. Or am I wrong?
really interested in the question above because as I see, many traders don't use price trackers such as CMC and go directly to the exchanges where they prefer to trade. Or am I wrong?
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