Topic: How do you pick your trades? (Read 637 times)
my way is buy went the chart go down . then hold and watch. if it go up i will sell and go out the market
Of course the first thing I did was to analyze the market and see the news to be able to get information about the progress of the increase or decrease in the market that occurred. and in my opinion a large volume is great for trading
In my opinion is better to built trading plan by self , by this way we will know what the mistake and we can learn more from that mistake. To be expert trader is should be learn from the previous mistake, and no need to follow signal others trader. Risk management is the most important thing in crypto trading, because without that we can loss big money. With high fluctuacion of crypto make possible to loss money up to 90%. When buy is always wait patient to get bottom price and use stop loss in every trade.
Plan and strategy, without it you cannot be a good trader. A lot of traders nowadays tend to think after learning; they can just start doing different things to make things work out for them. But, it should be understood that, you need to practice and make sure you are able to build confidence around your strategy, stick to it, and see how far it goes for you. Nothing as good as having a plan before even entering a position and that is the edge professionals will always have over quacks.
In my opinion is better to built trading plan by self , by this way we will know what the mistake and we can learn more from that mistake. To be expert trader is should be learn from the previous mistake, and no need to follow signal others trader. Risk management is the most important thing in crypto trading, because without that we can loss big money. With high fluctuacion of crypto make possible to loss money up to 90%. When buy is always wait patient to get bottom price and use stop loss in every trade.
Plan and strategy, without it you cannot be a good trader. A lot of traders nowadays tend to think after learning; they can just start doing different things to make things work out for them. But, it should be understood that, you need to practice and make sure you are able to build confidence around your strategy, stick to it, and see how far it goes for you. Nothing as good as having a plan before even entering a position and that is the edge professionals will always have over quacks.
After picking the coins and have it in our balance, we still need to be patient for a while and still to watch the price so we can find a good time to determine when we should sell the coin. I am sure that this can be done with practice in every day so we can find a good strategy to cover our trade and we can make a profit later. I agree that making a plan and strategy will give us a chance to make a profit although it is not guaranteed for us to make it in every day at least, we have a chance to get the profit.
In my opinion is better to built trading plan by self , by this way we will know what the mistake and we can learn more from that mistake. To be expert trader is should be learn from the previous mistake, and no need to follow signal others trader. Risk management is the most important thing in crypto trading, because without that we can loss big money. With high fluctuacion of crypto make possible to loss money up to 90%. When buy is always wait patient to get bottom price and use stop loss in every trade.
Plan and strategy, without it you cannot be a good trader. A lot of traders nowadays tend to think after learning; they can just start doing different things to make things work out for them. But, it should be understood that, you need to practice and make sure you are able to build confidence around your strategy, stick to it, and see how far it goes for you. Nothing as good as having a plan before even entering a position and that is the edge professionals will always have over quacks.
You don't have to understand every single technical detail of each currency. However, you should read a lot about a currency that you want to invest in and make a very informed decision. Since there are still a lot of unknowns when it comes to the use cases of cryptocurrencies, it is very important to really understand every cryptocurrency you invest in. What problems does the cryptocurrency solve? Is this something that has real-world value? Also consider the development team and who is running the show. Do they have a long-term vision for the currency? By asking these simple questions, you will start to uncover which currencies may be valuable in the future and which ones will crash and burn. If a currency is available on big exchanges that many people have access to, then it has much more potential to increase in value. The easier a currency is to buy, the more likely it will benefit from hype or favorable news.
Regarding having an informed decision, that is very necessary. Decisions are some things you will get to have to make for yourself in this space a lot, which could be trading, investment decisions and many more and there is no way you can make those decisions without knowledge and information surrounding the decisions you want to make. This is not only something that even has to do with cryptocurrency as it cuts across any investment or decisions. The more informed you are about certain things, the better the decisions you make.
I usually start my trades looking at the biggest losers of the day, they often present better options to hop into a trade when coin/token is oversold and approaching support. No reason to hop into pumping coins mid-pump when there's better R:R-setups floating around.
I only use my own technical and sentimental analysis.
Common Support / Resistance Levels + stochastic RSI + Bollinger Bands or Fibonacci retracements.
I only trade coins & tokens with a high marketcap (top50) and solid history (no overhyped projects).
I'm not rich yet but it's a solid performance so far ;-)
Common Support / Resistance Levels + stochastic RSI + Bollinger Bands or Fibonacci retracements.
I only trade coins & tokens with a high marketcap (top50) and solid history (no overhyped projects).
I'm not rich yet but it's a solid performance so far ;-)
Nailed it
these indicators are hell a useful also with me
Every single trade should have a plan
A good entry point using Common support, assisted by 3 mention indicators
and an exit point for resistance levels
lastly placed your Risk management, your ever friend stop loss
This knowledge is something a lot of people who want to trade do not have and without the knowledge, they obviously cannot have a strategy or a plan. When a trader is approaching without proper plan and strategy then they will eventually end up in messing up all the things. When not capable of forming a strategy, it would be much better to stay away from the markets.
Buying and holding for long-term is my ways of making money from cryptocurrencies market. I don't too waste my time by analyzing the market using technical or fundamental analysis but I do buy low and sell high to make money. However, this year 2018 has not been too good.
Yes, everyone certainly knows the best way that works for them and buy and hold strategy is obviously not a bad idea as long as you are comfortable at the price you are buying low, have enough patience and time to always wait for the market to develop before making any selling attempt and vice versa.A lot of people really would not have so much time trying to analyze the market as they really would not know how, but at least as an investor, and sticking with some principles and policies of buying when everyone is fearful and selling when everyone is getting greedy, I am sure you would not miss it.
I only do trades on USDT-BTC pair and with the help of bot triggered with technical analysis running on tradingview.
I personally pick my trade through depth charts and sometimes it has worked but since the market is most times unpredicted and manipulated.
Technical analysis might not work well in a manipulated market, so for me aside from doing TA, I also do my trade based on the news and what other people says because sometimes news is more accurate but never depend on that alone since it can also be a fake news. How do you select what you invest your precious satoshi's in?
Free signals? Paid signals? Own TA? Depth charts? Pure luck? Acting on regular volatility?
Personally, my tipple of choice is depth charts. Would be happy to debate the relative merits and hear how other people make it work for them.
How do you protect against dumps (Bart!)? How do you pick the coins you want to analyse? Are you successful?
Free signals? Paid signals? Own TA? Depth charts? Pure luck? Acting on regular volatility?
Personally, my tipple of choice is depth charts. Would be happy to debate the relative merits and hear how other people make it work for them.
How do you protect against dumps (Bart!)? How do you pick the coins you want to analyse? Are you successful?
Using signal channels can help you about the possibility of which innovation will be. Because there are more than 10k of digital money and you can follow only 10-15 of them. You can find other solutions, but consensus is the best choice.
Mostly I pick my trades based on the news that is coming for a particular coins, if i notice that a coin have a up date coming in a few weeks to come, I will be the first to invest, so i normally stay connected with coins through their news channels, I spend some hours on daily basis going through their new and update release.
How do you select what you invest your precious satoshi's in?
Free signals? Paid signals? Own TA? Depth charts? Pure luck? Acting on regular volatility?
Personally, my tipple of choice is depth charts. Would be happy to debate the relative merits and hear how other people make it work for them.
How do you protect against dumps (Bart!)? How do you pick the coins you want to analyse? Are you successful?
Own TA all the way. Why should I ever want to follow someone when I can certainly do it all by myself and there is absolutely nothing as good as you being able to do it yourself. Luck is not something you should be looking forward to in trading, except maybe you are hoping for some huge gains, but usually you should be more focused on the aspect of trying to use your strategy to take advantage of the market volatility as the case may be which is something I expect any sensible person to always take into consideration.Free signals? Paid signals? Own TA? Depth charts? Pure luck? Acting on regular volatility?
Personally, my tipple of choice is depth charts. Would be happy to debate the relative merits and hear how other people make it work for them.
How do you protect against dumps (Bart!)? How do you pick the coins you want to analyse? Are you successful?
In depth knowledge of how to trade is certainly the most important thing when it comes to trading. Without that, you are going to be short of strategy to trade the market effectively, rely so much on luck and then in that form you would just be gambling and that can terribly or will terribly lead bad in the long run. Analysis is important and that is how you are able to plan your trade. If you fail to plan, then absolutely, you plan to fail. As simple as that!
How do you select what you invest your precious satoshi's in?
Free signals? Paid signals? Own TA? Depth charts? Pure luck? Acting on regular volatility?
Personally, my tipple of choice is depth charts. Would be happy to debate the relative merits and hear how other people make it work for them.
How do you protect against dumps (Bart!)? How do you pick the coins you want to analyse? Are you successful?
Free signals? Paid signals? Own TA? Depth charts? Pure luck? Acting on regular volatility?
Personally, my tipple of choice is depth charts. Would be happy to debate the relative merits and hear how other people make it work for them.
How do you protect against dumps (Bart!)? How do you pick the coins you want to analyse? Are you successful?
i usually go to coinmarketcap and check those coins with good trading volumes. among these coins i pick some with good price differences among different exchanges. then i buy on the cheaper exchange and sell on the expensive exchange. do this a couple of times daily and you will earn during normal trading days.
in trading it has many ways, and I prefer to learn about chart movements in trading, because it is very profitable for me to feel.
My friend told me who already do trades for a year that if i wanted to invest to an altcoin, it must be in top 50 on coinmarketcap. That altcoin must have low circulating supplies because the demand will be great in the future. What I found effectively in trading is that you have to be patient and only invest when the market is on a blood bath. It is very effective because it secures a profit when a greener market returns.
Or it can crash further as it happened with Bitcoin on its way down from the 2017 December highs. There was no end to bloodbath around $13000-15000 when the price first rebounded to almost $17000 (though it was no more than a regular dead cat's bounce). Then another stop was at $12000. Actually, there were two stops at that level at different times, the first one ending with a rebound and the second one with further crash, which landed us below $7000. And blood ran in torrents back then. Regarding low circulating supply, it doesn't guarantee anything
42Coin was expected to have only 42 coins (which should have given it value), but it still ended like a typical shitcoin
Tradingview offers the option to add alerts to certain price ranges or ranges in indicators. This is pretty much what allows professional traders to have a life on the side when trading, no need to look at charts all day and wait for prices to enter your buy/sell-zones. Just add alert to it and be ready to rock n' roll when it goes of.
My friend told me who already do trades for a year that if i wanted to invest to an altcoin, it must be in top 50 on coinmarketcap. That altcoin must have low circulating supplies because the demand will be great in the future. What I found effectively in trading is that you have to be patient and only invest when the market is on a blood bath. It is very effective because it secures a profit when a greener market returns.
Personally, I don't follow any signals or any crypto expert's trading or buying signal. Because experts have a lot of money, if his prediction goes wrong then he will be okay, but i will be finished! That's why I always follow myself and I am happy with it. Everyone should make own trading style. By following someone you can't grow well.
Lol. I guess the thing you should be more concerned about right now is the fact that even if you want to follow some experts, the best way to go about it is to be knowledgeable enough to be able to make decisions on your own. Picking a trade requires knowing certain things, when it comes to the currency, when you should be getting in, when you should be getting out and when you should be stopping loss. All these things are stuffs that require knowledge and great deal of information, so no matter how much you follow an expert, you will always get screwed because even an expert will tell you TA are not always 100% accurate but what they know how to do best that you is to have a plan, know when they should be exiting the market and that is what is classified as risk management.
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