Topic: How do you trade with crypto currency? - page 6. (Read 9165 times)

The most important aspect of trading any asset class is the effective money management rather than the trading technique. If combining technical and fundamental analysis can give a full proof profit formula, then every trader should be making money with all the modern algorithm tools that are available currently. The price movements are cyclical in nature. Traders get in to a cycle where the market moves as per their intutions and calculations. This gives the confidence for the trader to bet more and stay constantly invested in the market. When the market turns against the traders calculation, the ego to accept losses and the confidence attained from the previous positive trades will make the traders to loose more than what they have earned. Hence, be it crypto currency, Forex, stock or commodities, the most important trading technique will be to do proper money management of his portfolio and manage effectively his 'planned risk' versus the 'actual risk'.

In regards to trading crypto currency, depending too much on technical analysis could be disastrous as the digital currency market is not mature enough yet. Technical analysis proves prudent when the traded product has huge liquidity and wider participants. Current volume traded in digital currencies are far less as compared to the FX and equity market. Hence external factors like government interventions, technical hitches for the underlying blockchain, security concerns etc can induce huge volatility to the digital currency.

Keeping a close watch on the latest activities in fintech news in regards to blockchain technology will be a good benchmark to ascertain the sustainability of the cryptocurrencies. At this initial development phase of cryptocurrencies, fundamentals should be given equal importance along with technicals.


Regards,
Belfrics Manager,
Belfrics

Yes, actually in crypto trading i also feel rumors are here, and sometime i can't think that what will be the right price of that currency which i buy it, and later on i realize nothing is happen as i think about it. So that why i remember one thing, if you have correct information about cryto currency, than you will earn money from trading.

I don't know how to explain how I trade, I go to yobit and then watch market. After some time I decide to buy and wait for rise. I'm not for waiting, and I go there to have fun while I buy and sell coins, and playing like I'm on Wall street. That is interesting for some time, and then it become boring when I see that I lost a lot of money. I think I will stop to trade soon, I had fun but its not for me. I think I don't have good prediction skills with altcoins.

I do not trade the high risk high profit coins. I only trade the Monero, Lisk, Dah or Ethereum, they are safter.

I do trade  them too but I'm more interested on the  high risk high profit coins.  Those that is labeled or potential Pump and Dump coins.  You can earn 10x easy with  these coins but well if your unlucky you will end up bagholding useless coins.  Though Im interested in this type of coins, i never comment in their thread because i know it  willl be gone soon. so why  waist my time.

I only trade those popular coins with a lots of volume, user support and always have good news about the development.

I trade altcoins like Monero, Ethereum and its classic version, and I trade them based on their announcements, and especially the most important thing, and that's people's sentiments... I try and watch and see how's everyone reacting upon market's moves regarding that crypto and I act accordingly...

It is quiet easy to trade with the cryptocurrency's because every person who is dealing with the crypto tokens wants to trade with you not everyone off course some people just want to store them but there are plenty enough.

Most of my trades are only base on the news I've received and tweets from the dev team of the coins i've follow. That's just it and i get out immediately after selling the coins unless i have so much trust to the devs.  i wonder how OP did the technical analysis and which indicators he is using.

Listening to tips can be dangerous.   If you want to conduct an orchestra,  you have to turn your back to the crowd.  I forget who said that, but I've always stuck to it with investing.  It's often the best course of action to not do what others are doing and vice versa.   This forum is sort of an echo chamber of bulls but most people are NOT investing in bitcoin.  That's all the tip I need.

Usually when i do trading i am searching for the updated news, then i find coin with the high trade and i tried to purchase various alt coin, the key to my trading is news and patience, well i havent earn a lot for now but i think i still earn some profit

Sometimes I also search for those coins for which will have a bigger volume of trade and which will have higher fluctuation rate, with these kind of coins I am able to earn a faster profit, but in some cases when I imagine a good profit from a coin then I do not care that this coins is new or older.

In fact, you are incorrect. When people refer to this catch phrase as a trading strategy (also known as BTFD), they typically mean that they buy when the price goes down from what they consider an average price and sell if it surges above it (or, at least, hope to sell). And it does seem to be the most widely used method of "trading" as well as losing money in the long run...

Since the most common strategy cannot be profitable by definition (en masse)

i lost a lot of money with alt coins so i trade bitcoin/fiat now only, as it is easier

Mostly of traders using analysis tecnical for looking for trend up or down and there are some traders who used analysis fundamental usualy for long term strategy, i my self using analysis tecnical because i use short term strategy.

since i am not a altcoin trader , i am a small bitcoin trader .

but in case of other currecy trading i will suggest you , you should always hold every free currency ( you can go at yobit ) . in this way you can get a better amount of profit when any of the rate of currency increase . and if rate of one decrease then rate of another will increase this will retard the loss in trading ( thus is my successful friend's stergy to trade) .

That is called short term many trader now is like short trade to see how much they get profit. But short trade is not safe much safer the long trade than short trade because many trader defisit there bal. Because they do the wrong move.

Are you serious not considering the price is going up or down because the traders can get their profit just from that and  that has become a most common thing in trading and, maybe you will sell and buy if the price is getting a stable.

this is also what i am doing in trading. beside buy low and sell high, buy fast as we can then sell it fast too no matter the rate is up or down. when you can do this is in altcoin that maybe have middle movement then you can get good profit.

Trading with cryptocurrencies is not such a different thing than trading other things first you have to search a person who want to trade with yoiu and that does not have to be a person who you know you can also find them over here or further on the internet there are always people who want to trade with you for sure!