How do you trade if you won't leave your coins on exchange - page 6.

DDante

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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?

Yes you are right but still it's better to start moving your funds out of exchanges to your private wallets when you make profits, leave only the exact amount you need for trading on the exchange, anything can go wrong at any time

lienfaye

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Quote from: OptimusPrime_3 on July 14, 2020, 02:42:57 AM

But I feel the exchange is what matters, just dont keep your coins on any exchange, be sure its trusted one.

Even the exchange is trusted and reputable still there's a risk, thats why its not advisable to hold your coins on exchange. But it depends on the trader itself, because its convenient for the trader's part to let their coins sleep on exchange so if the price is moving upward selling is like a snap.

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

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?

If the price is increasing and im ready to sell my coins then I will deposit it to exchange. Its not hard as long as the price is moving upward taking profit wont be a problem.

Ken_terrance

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Making Smart Money Work

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?

There is no way you won't deposit coins on exchange but it all depends on timing, the advice was never to leave your coins on exchanges like making use of the exchange wallet as your real wallet to store coins when you have no private backup of the wallet, you can trade in minutes or hours or days but do not leave your coins on exchanges means don't treat exchange wallets as yours

OptimusPrime_3

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Personally, I dont leave my coins on exchanges anymore especially low-rated ones.
Currently, I have some coins stuck in some exchanges and I cant withdraw anymore.
But I feel the exchange is what matters, just dont keep your coins on any exchange, be sure its trusted one.

Refrumatrix

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$CYBERCASH METAVERSE

No one can escape depositing their coins on exchange for trading unless you aren't going to trade or exchange token at all, it's impossible, at one point you will deposit your tokens and coins, make sure you use top exchanges they are more reliable than the rest

BigBos

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Quote from: libert19 on July 07, 2020, 12:43:12 AM

You have to take risk then, those who actively trade keep some coins on exchange and rest in their cold wallet.

You are at risk of getting hit while cross the road, doesn't mean you should not go out. There you take precuations, same applies here.

Well, putting the funds we have into an exchange is something we need to do before trading. Well, that is a sure thing. so, if in doubt, try choosing a popular exchange. Well, some people seem to want to make a big profit, but don't want to face the risks.

TimeTeller

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Quote from: Nazmul012 on July 13, 2020, 01:21:13 PM

Trading Patterns are different for one trader to another. If anyone wish for long trading then they have to put their fund in exchanges (Trusted exchange recommended). If anyone wish for short trading or follows trading signals, then they don't need to put their fund in exchanges all the time. They can withdraw after fulfill their target. So it's depends on trader how would they like to trade. basically i follow price of currencies and prefer short trade as i don't feel safe, putting my fund in exchanges in all the time long

Yes, if you decide to leave your coins better leave it on top exchanges like Binance.
For me, I feel secure if it is Binance as they have SAFU in place.
But for other exchanges without insurance, it is always better to transfer your funds in a secure place.
Better be safe than sorry when something goes awry. You'll never know when these hackers will attack, they won't give prior notice.

Nazmul012

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Trading Patterns are different for one trader to another. If anyone wish for long trading then they have to put their fund in exchanges (Trusted exchange recommended). If anyone wish for short trading or follows trading signals, then they don't need to put their fund in exchanges all the time. They can withdraw after fulfill their target. So it's depends on trader how would they like to trade. basically i follow price of currencies and prefer short trade as i don't feel safe, putting my fund in exchanges in all the time long

filterMX

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I personally like to trade depending on the conditions of the crypto market, if the crypto market seems to be stable, I prefer to place prices accordingly, but if the crypto market goes up and down quickly, I am more interested in trading every day.

cryptoknightt

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Quote from: target on May 06, 2020, 10:40:40 AM

You consider this issue every time BTC goes up. You would have to get out of the exchange in order to do safeguard your coins. Its risky to leave the coins but withdrawal fees are getting higher. What you can do is move your coins to XRP when withdrawing or any altcoin with cheap fees such as TRX or USDT. Or you can use dex with the noncustodial wallets, your coins don't go anywhere.

but withdrawing using xrp is also risky because xrp is not a stable coin, the problem is when we wait for the right moment to enter or exit, so if the xrp or other altcoin that we buy has decreased then it will have bad consequences.
I think it's better to keep it on an exchange, like binance, huobi, okex, or other exchanges that have a pretty good reputation.

bitcoinisbest

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Quote from: dragon695 on July 07, 2020, 12:50:06 AM

Quote from: libert19 on July 07, 2020, 12:43:12 AM

You have to take risk then, those who actively trade keep some coins on exchange and rest in their cold wallet.

You are at risk of getting hit while cross the road, doesn't mean you should not go out. There you take precuations, same applies here.

LOL, I like the way you give your example. It's funny and easy to understand. Yes, you're right. A trader neither trades all of their capital nor keeps a large portion of their capital out of the market. If we don't leave our coins on Exchanges because we are afraid of losing, we can't trade anyway. The important thing in this market is that you have to accept the risk and learn how to manage it!

Certainly, coins which is bought for long term horizon should not be stored in web wallets or any exchanges. It is recommended to store it offline and not online. For traders they do trade with some capital and those are not kept under one exchange and as rightly pointed out that we should always be using the reputed exchanges and wallets for security reasons.

FOPL

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We can classify traders into three categories based on the time frame. Some trade almost every day, others once in a while and there are the people who just buy a coin/token and hold for years. if you find yourself in the last category then the best way to go is to find a wallet that you have private keys to. Most of these wallets give you full control of your fund. For midterm traders, they could also do same. Day traders can keep their funds on the exchange so long as they are trusted. You can also use platforms like https://changenow.io/ to exchange your tokens where you don't need to create an account, so don't keep your funds on the exchange.

On the other hand, Atomic Wallet, for example, is a non-custodial wallet and comes with an in-built exchange. It's highly recommended for all kinds of traders, even with newbies. You can easily swap your cryptos without leaving the wallet. The interesting part is that you get rewarded each time you make an exchange and hold a minimum of 300 AWC. The reward is set each month in AWC token.

peter0425

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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.

actually the most target of hackers are the Big exchange and we have seen that for many times that almost all great exchange here experienced this already.
So i stick to not leaving my money inside exchange after trading.

Quote

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?

Lol this is depend on your strategy,don't be stupid asking this because what you are saying is not leaving your money inside exchange because you are under trading even when you sleep in that case so it is normal to let your money stays for a while until your order sets.

dragon695

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Quote from: libert19 on July 07, 2020, 12:43:12 AM

You have to take risk then, those who actively trade keep some coins on exchange and rest in their cold wallet.

You are at risk of getting hit while cross the road, doesn't mean you should not go out. There you take precuations, same applies here.

LOL, I like the way you give your example. It's funny and easy to understand. Yes, you're right. A trader neither trades all of their capital nor keeps a large portion of their capital out of the market. If we don't leave our coins on Exchanges because we are afraid of losing, we can't trade anyway. The important thing in this market is that you have to accept the risk and learn how to manage it!

libert19

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You have to take risk then, those who actively trade keep some coins on exchange and rest in their cold wallet.

You are at risk of getting hit while cross the road, doesn't mean you should not go out. There you take precuations, same applies here.

aditasetia123

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Quote from: Tipstar on May 06, 2020, 09:11:33 PM

You can do that with a dex. Most of the stable coins are tokens on Ethereum platform and they are listed on Decentralized exchanges where you can create a contract to sell the coins in your wallet when there's users that want to buy at the price you want. It's all same like a centralized exchange except you are the one that holds the coin until the exchange is made.

dex exchange could be solution for people won't leave their assets in centralized exchanges. many coin holders harmed when their exchanges ruined out , its have several example what already happen to centralized exchange. look at cryptopia, idax pro and many other. personally i am be victim too when leave my coin in exchanges.

omnik

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Quote from: Furryball on June 16, 2020, 01:52:37 PM

Quote from: Febo on June 16, 2020, 01:41:30 PM

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?

Most people dont daytrade. I am sure most people tried, but then lost most and changed their mind. You cant trade something that is so easily to manipulate as is Bitcoin or other altcoins. You will get burned sooner or latter. Most people buy use and sell. Bitcoin was ment as cash, to buy stuff with it and not to trade altcoins. Or to get salary in it.

Saying most people don't day trade is a big lie, if there is no day trading on Exchanges Bitcoin can't maintain huge 24hrs market cap it's used to, I don't belief your words, we have many traders on top exchanges and there is no way you can't leave your Bitcoin on exchanges even if it's just for 24 hrs

Well no one knows to be exact how much people are day trading out there but the advices from the topic for not putting any money in the exchange for too long is usually for those people who uses exchange for the purpose of exchanging money and trying to gain profit out of it, day traders usually find their own way to safely store their money anyway.

BitKongy

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You can't escape that, you need to deposit on a exchange before selling your coins and if the present price is not too good you will have to drop your own bidding right? This might take even days before a buyer took the bid, there is no way you won't leave coins and tokens on exchanges for different reasons

totoy4741

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I don't really think that there a risk of storing your assets in a certain exchange especially high tier exchange such binance or okex that usually geared up with high security level of it is safe to say you can store it there for a period amount of time. There are a lots of ways, actually if you have some basic or above average knowledge about trading then just put your assets in trading exchanges when you think you are going to gain, and if you are not going tondo any trade, then you can always pull it out and keep it in your wallet.

takana212

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I myself prefer to trade using the long-term method of setting an appropriate price and waiting until the price reaches the target, even though it takes a long time, I am satisfied when the price is reached.

Topic: How do you trade if you won't leave your coins on exchange - page 6. (Read 2334 times)