How do you trade your crypto currency? - page 2.

miltan

newbie

Activity: 6

Merit: 0

Quote from: ralle14 on November 27, 2017, 09:07:37 AM

Quote from: debby duchess on November 27, 2017, 06:02:41 AM

Want to know how you trade and how it works. Thanks

I use a local exchange where I have the choice to exchange my bitcoins to fiat. Download an app that notifies me with the price of bitcoin once I receive a notification for the price i'm waiting for i'll start converting my bitcoin to fiat.

Quote from: miltan on November 27, 2017, 08:15:13 AM

Best trading strategy?
Buy (low) and HODL. Forget about it like for a year or so, and when you come back you investment will most probably have increased in value. (depending on where you invest of course)
Honestly, there are some people who check prices everyday and that will drive you crazy. If you can't live without checking prices, then I think it's healthy to check prices once or twice a week, during peak times 4-5 times a week imo.

Checking prices once a week is risky because what if bitcoin's price starts to go down by 5-10% every day. You could've minimize your losses if you check the prices everyday.

Assuming one would buy low and forget about it for a while, those corrections won't make a big difference. Going down 5-10 % everyday for a very long period is a worst case scenario, in which case I agree with you on checking prices more frequently.

ditinhu

full member

Activity: 140

Merit: 100

Change your currency for another when your currency is low and the other currency is low.

But always look at the values in dollars, because with these increases of Bitcoin often the currency is low in value for bitcoin but not in dollars.

Always trade for strong coins like Litecoin, Xmr, Dash or Ethereum, depending on the currency you exchange you can get into a huge loss.

ralle14

legendary

Activity: 3290

Merit: 1901

Shuffle.com

Quote from: debby duchess on November 27, 2017, 06:02:41 AM

Want to know how you trade and how it works. Thanks

I use a local exchange where I have the choice to exchange my bitcoins to fiat. Download an app that notifies me with the price of bitcoin once I receive a notification for the price i'm waiting for i'll start converting my bitcoin to fiat.

Quote from: miltan on November 27, 2017, 08:15:13 AM

Best trading strategy?
Buy (low) and HODL. Forget about it like for a year or so, and when you come back you investment will most probably have increased in value. (depending on where you invest of course)
Honestly, there are some people who check prices everyday and that will drive you crazy. If you can't live without checking prices, then I think it's healthy to check prices once or twice a week, during peak times 4-5 times a week imo.

Checking prices once a week is risky because what if bitcoin's price starts to go down by 5-10% every day. You could've minimize your losses if you check the prices everyday.

ihsanskanzaone

full member

Activity: 182

Merit: 100

I exchanged my crypto currency at bitcoin.co.id site why I chose bitcoin.co.id site because on this site we can do bitcoin storage and trading and the main reason because in this site we can also exchange bitcoin into applicable currency in my country that is Rupiah. Another advantage of this site is that we can also redeem other coins into bitcoins according to the prices on the market and we are also free to include prices on our traded bitcoins.

miltan

newbie

Activity: 6

Merit: 0

Best trading strategy?
Buy (low) and HODL. Forget about it like for a year or so, and when you come back you investment will most probably have increased in value. (depending on where you invest of course)
Honestly, there are some people who check prices everyday and that will drive you crazy. If you can't live without checking prices, then I think it's healthy to check prices once or twice a week, during peak times 4-5 times a week imo.

okala

full member

Activity: 980

Merit: 114

Quote from: debby duchess on November 27, 2017, 06:02:41 AM

Want to know how you trade and how it works. Thanks

Trading crypto currencies demand a lot of knowledge and expertise and you should not going into it without adequate understand how how to trade it successfully. I have spent about 2 years now learning crypto currencies trading and one thing that I have find out is how to make some profit by buying low and sell high though this demand alot of emotional control and expertise.

no0dlepunk

sr. member

Activity: 490

Merit: 258

Quote from: debby duchess on November 27, 2017, 06:02:41 AM

Want to know how you trade and how it works. Thanks

I use poloniex. Normally I watch the price and the volume and then wait until they cross each other. Some tricks in the stock market works, while some doesn't. I'm not a successful trader though, and I make more money in HODLing bitcoins. So please take this advice, do not trade unless you have a psychic ability. Whales are like catastrophes, you don't know when they are about to come... and if you aren't prepared, you'll regret that day.

PS: still mad at Roger Ver.

crzy

full member

Activity: 2128

Merit: 180

Quote from: debby duchess on November 27, 2017, 07:21:18 AM

Quote from: japaninja on November 27, 2017, 06:24:14 AM

You trade your coins/cryptocurrencies on an exchange similar to traditional online stock market exchanges. Best to be safe and stick with the well-known ones like the following:

-Poloniex
-Bittrex
-Binance
-Bitfinex

I suggest you do more google research before actually trading.

which one works for you?

Personally Poloniex and Bittrex really works for me. But of course it is still base on your preferred site because all of them are really good. I can with cryptocurrency with those exchanges and sometime on my wallet alone I trade. Yeah do more research about cryptocurrency and how trading works to save your money from being loss.

wordspavovv

full member

Activity: 139

Merit: 100

Quote from: debby duchess on November 27, 2017, 06:02:41 AM

Want to know how you trade and how it works. Thanks

You need an account to a trading platform, poloniex and bittrex are some
Then you can buy cheap and sell high

A better way of trading is to buy ICOs and when are available in trading platforms to sell them or wait until is the right time to sell them...

debby duchess

newbie

Activity: 5

Merit: 0

Quote from: japaninja on November 27, 2017, 06:24:14 AM

You trade your coins/cryptocurrencies on an exchange similar to traditional online stock market exchanges. Best to be safe and stick with the well-known ones like the following:

-Poloniex
-Bittrex
-Binance
-Bitfinex

I suggest you do more google research before actually trading.

which one works for you?

nl247

full member

Activity: 518

Merit: 145

Knowing all the exchanges to trade is one thing which the user above me have already listed out but knowing how to trade is the most important thing. No one on this forum will definitely sit you down to let you know how to trade safely and effectively as you have to search online, the forum and YouTube yourself to get some resources you may need to learn. However, I will advise you make some search on YouTube, as you will get some good resources to get you going pretty fast there.

japaninja

newbie

Activity: 26

Merit: 0

You trade your coins/cryptocurrencies on an exchange similar to traditional online stock market exchanges. Best to be safe and stick with the well-known ones like the following:

-Poloniex
-Bittrex
-Binance
-Bitfinex

I suggest you do more google research before actually trading.

debby duchess

newbie

Activity: 5

Merit: 0

Want to know how you trade and how it works. Thanks

Topic: How do you trade your crypto currency? - page 2. (Read 750 times)