How do you trade if you won't leave your coins on exchange - page 2.

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Quote from: Fivestar4everMVP on September 17, 2020, 06:41:58 AM

For me, I don't day trade, I invest by buying, withdrawing to my personal wallet and hodling, though buying and hodling does not nessarilly mean I don't leave some coin in exchanges, I do leave some at times but I make sure whats left there isnt significant.
But it's best to use dex, but then when we talk of dex, we start talking about liquidity which is a huge problem dex have.

of course, what is left will not be of good value. the amount is small and will not be able to be sold on the exchange. some can run out like you said using DEX. but in other cases exchanges limit the number of coins or tokens that can be traded.
I don't think we need to worry about that. because there is already a greater value than we can withdraw to our wallet.

sangjoewara

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Quote from: Tahid12 on September 17, 2020, 01:19:33 AM

Its not possible to trade without putting your coins on exchange. You have to do it before start treading, No matter long trade or short trade. And don't get afraid to do so, rather set strong security 2FA, Google authentication to protect your fund. You should trade on some popular & secure exchanges like okex, binance to stay safe from being hacked

Yes, that's right, in terms of trading and looking for profit, strong security is really needed so that the funds or assets that we have been able to be safe on the exchange, especially if the exchanges we are using are top exchanges like Binance and okex, it is clear in general that security already existed before we improve further.

Fivestar4everMVP

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For me, I don't day trade, I invest by buying, withdrawing to my personal wallet and hodling, though buying and hodling does not nessarilly mean I don't leave some coin in exchanges, I do leave some at times but I make sure whats left there isnt significant.
But it's best to use dex, but then when we talk of dex, we start talking about liquidity which is a huge problem dex have.

MCobian

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That's why you should not withdraw all the coins we have on exchanges, I always store coins on exchanges which are used for trading only.
So every profit I make from trading, then I moved it to my hardware wallet. Moreover, people who usually do day trading, should be obliged
to leave some coins on the exchange, which will indeed be used as trading capital.

Saisher

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Quote from: Shasha80 on August 20, 2020, 10:48:45 AM

You're misunderstood the advice of don't leave your coins on exchanges, what that means is don't keep all our capital on exchanges.
So the coins that are on exchanges are only the coins that we trade with, as you said how we trade, if there are no coins that we
store on exchanges.

That's also what I'm doing I only leave coins that I want to trade for the whole week, I will never leave a coin for a whole month there just sitting there everyday there is a risk that the exchange could be hacked and even if the exchange is trustworthy, it will take you months or even years to get your funds, so it's better to only leave a coin that you will exchange right away.

Tahid12

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Its not possible to trade without putting your coins on exchange. You have to do it before start treading, No matter long trade or short trade. And don't get afraid to do so, rather set strong security 2FA, Google authentication to protect your fund. You should trade on some popular & secure exchanges like okex, binance to stay safe from being hacked

Pamadar

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Quote from: Shasha80 on August 20, 2020, 10:48:45 AM

You're misunderstood the advice of don't leave your coins on exchanges, what that means is don't keep all our capital on exchanges.
So the coins that are on exchanges are only the coins that we trade with, as you said how we trade, if there are no coins that we
store on exchanges.

Precisely. The coins that we intended to trade needs to be there, how you can execute anything if you don't have the assets.
Logically, there's nothing to argue as traders understand this but with newcomers advise are need to be balanced and if you
are really serious with your goals you should picked the right thing and logically applicable.

Cryptoababe

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Quote from: VDraci on May 06, 2020, 10:35:07 AM

We are told several times on this forum never to leave your coins on exchange, well I know the difference about low rated exchanges and high rated exchanges and I know that many traders prefer high rated exchanges for trading because of volume and Liquidity but my point is there is no way to be a trader without your coins sleeping in exchange wallets, why? Because sometimes while you are asleep bitcoin can hit a new price target.

For example BTC is trading at 8000$ and I put up a sell order at 9000$, most times this won't happen in an instant, sometimes you wake up the next day and your order became successful isn't it? Now for those saying 'don't leave your coins on exchanges' how do you trade?

The truth is not everyone trades and not everyone wants to trade. So those saying don't leave your coins on exchanges are either not traders or they are trying to tell you not to hold coins on exchanges.
Not all coins you have that you will be using to trade. So you can keep the ones you wanna hold in your private wallet..

sempak

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If your target price is very far from reality then you should not let your coins sit on the exchange. What they mean don't leave your coins on exchange is that they ask you to be careful since before there were incidents that the exchange was hacked and it might be one of your bitcoins but I think it's more secure now and you need to provide KYC so if you lost your money then at least you have verification to provide when they will refund your money.

wxxyrqa

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No one uses the wallet address of their cryptocurrency exchange account to store all of their capital. In any case, the choice of an exchange for trading cryptocurrency should be carried out not only by the criteria of low commissions or a convenient interface, but also by the level of security. Binance suits me best, since I can access my account and confirm actions with SMS confirmation by phone number, email and 2-factor authentication. Thus, my funds in the binance account are safe, but nevertheless, I keep on the exchange exactly as much as I need for trading and nothing more.

Shasha80

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You're misunderstood the advice of don't leave your coins on exchanges, what that means is don't keep all our capital on exchanges.
So the coins that are on exchanges are only the coins that we trade with, as you said how we trade, if there are no coins that we
store on exchanges.

budi691

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trustworthy exchange to choose to leave coins, binance exchange is one of the exchanges that can be trusted, because I already did, leaving coins on the exchange was risky but I did it to reduce high fees,

Kopetunto

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Quote from: bbcolex on August 16, 2020, 03:45:49 AM

you can try decentralized exchange or Uniswap/Bancor these are the example of instant swap it's like other known exchange but you dont need to put your funds or coins into the exchange itself.

trading on decentralized exchange or Uniswap I think for beginners is not recommended, because we don't know about the order book,
and in contrast to other exchanges, trading on Binance alone I think is quite good and safe

Docbee

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Quote from: VDraci on May 06, 2020, 10:35:07 AM

We are told several times on this forum never to leave your coins on exchange, well I know the difference about low rated exchanges and high rated exchanges and I know that many traders prefer high rated exchanges for trading because of volume and Liquidity but my point is there is no way to be a trader without your coins sleeping in exchange wallets, why? Because sometimes while you are asleep bitcoin can hit a new price target.

For example BTC is trading at 8000$ and I put up a sell order at 9000$, most times this won't happen in an instant, sometimes you wake up the next day and your order became successful isn't it? Now for those saying 'don't leave your coins on exchanges' how do you trade?

Trading your coins and/or tokens on exchanges doesn't mean you should leave your asset on the exchanges. You can have your coins in your app wallet address or hard wallet, then transfer it to exchange when you are ready for the trading. If you are thinking of transfer gas fee, then that's far less comparable to what you stand to lose if such exchange e.g. Vindax is hacked.

nikki4

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Quote from: ?? on ??

I think you get it wrong, we said never left your coin in exchange if you ain't intend to trade it aka just use the exchange as a personal multi wallet and growing to comfort about it. If you're a trader, by all mean holding it on a trusted exchange to able to trade anytime you want.

Right, we make those posts only for holders. Some people don't withdraw BTC or altcoins from exchange, only one reason is transaction cost. Traders have to leave their coins in exchange, but one exchange is very risky. Although traders are using multiple exchanges for their funds. As I take experience from others, always withdraw your profits if you think profits are good.

blue_hurricanger

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Advice is usually like that, you have to twist some part of it to make it work for your case since everyone has their own circumstance. "Never to leave your coins on exchange" harming traders since they can't leave their fund on exchange for long no matter low rated or high rated as you has said. I come up with idea to twist and make it work for me by only hold a part of my fund on exchange while the rest on my wallet.

xOdiumNostrumx

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Leaving your funds on an exchange for prolonged periods of time is my last resort solely in situations when my hardware wallet does not support a specific coin that I am holding. And I have in mind only tier 1 exchanges not some shady ones, I would never trust my funds with the latter. The answer to the asked question is, dont day trade and stick to swing trading, that way it is less likely that you will get rekd in the short term and you will as well avoid the risk of keeping your funds on the exchange.

S4VV4S

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Quote from: WannaCry on August 16, 2020, 12:37:47 AM

mostly of the traders leave their coin in an exchange where they trust.. it may save the transaction fee and time also.. as you mention that bitcoin price may hit a new price target while you're away..

My advice, never put eggs in one basket, Don't put all your assets in just one Exchange, Spread your assets into other big markets, Because if hack occurs in one market, then you don't lose all your assets, because there are still your assets in another market.

bbcolex

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you can try decentralized exchange or Uniswap/Bancor these are the example of instant swap it's like other known exchange but you dont need to put your funds or coins into the exchange itself.

ilovealtcoins

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I feel confused about your inquiry. How to trade without money on the exchange? I don't think it is possible to do so in a centralized trading platform. If you want to trade with money still in your wallet, consider decentralized exchanges. There will be smart contracts so you can efficiently arrange your buy and sell orders but I'm afraid the liquidity won't be good.

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