How to be a good traders of altcoins?

nanaimogold

sr. member

Activity: 661

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Quote from: reality18 on August 23, 2019, 10:53:25 PM

To become a good trader, one must be ready to learn how things work when it comes to cryptocurrency trading because it goes beyond the mere principle of buying at certain low price and selling at certain high price to make profit. The trader must first know which exchange platform to choose for trading, which altcoins are favourable for trading at a particular point in time, how to access and analyze market trends and data, how to read market graphs etc.

The key is study study study. That's the only way to be good at trading. When I started out newly, I had to familiarise myself with technical analysis and I found materials from babypips very helpful. Also experience and patience matters alot. Even when you make mistakes, always keep your cool and learn from every incident and remain consistent

adjed

sr. member

Activity: 400

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To.be a successful traders there are many things one would require (and no, I am not talking about bots) but one of the major ones is Stop-loss, you have to learn how to use it and use it very frequently, this is why it's advisable to do your day trading in big exchanges with large volume to ensure that the Stop-loss works very well, additionally, don't joke with stable coins.

Etsu

jr. member

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Going through lot of suggestions here, I'm really impressed. The very few times i've tried trading altcoins, i got really burnt. I hope this various guidelines will work out

shushu9977

full member

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If you have enough Knowledge of crypto, then than you should be a good trader. A good trader always research, know of best time to buy crypto and also sell the crypto, good knowledge of market position etc. There is no time to put money for altcoins, all time is the best time if you have proper knowledge about the crypto.

DonFacundo

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The main strategy is to buy low and sell high of course, and I think there is no the best time to buy altcoins if you do trading just buy at low price, but if you like to hold an altcoin for long term then this is the best time to buy and wait bull run.

Herry Toms

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Well, the answer is simple to trade with the trend. The irony about altcoins is: People think selling them is not a good way and they keep on buying even when the market is going down. You will get hurt if you trying to catch the falling knife. Look at major alts how much they are down instead of hoping and wishing if people sold them at the top the would have a lot of profits till nows.
To trade altcoins, we need to change our perspective that everything can happen to define loss in advance and the market decide.

Wipangga

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Activity: 600

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if I think a good strategy for crypto trading, if I think I previously put my money in altcoin, for me first I will have a lot of good research, so I think it will also be better to hold back and get profits in altcoin trading, and now is also a good time to get profit in the future by buying altcoin prices now.

Dakijon

jr. member

Activity: 32

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No lesson or knowledge about how to become good trading. only experience are best to be good trader. you will come lose money and time when begin trading like profesional. it's true, my friend begin trading at 10 years ago, until now never be good trader.

Emilyp

member

Activity: 546

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Trading Altcoins needs one to have knowledge of analysing charts, studying the fundamentals behind a project. When I trade, I always checked my trades from time to time because trading requires active focus on the market to keep adjusting your trades based on the current trend.

jcarlo

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Quote from: suvo05 on August 04, 2019, 12:50:45 PM

When it comes to the trading of altcoin the I find it is one of the most complex jobs. There are lot of chances and possibilities. So to become a good trader of altcoins what are the main strategies do we need to have? Is it the best time to put money on the altcoin?

In my opinion, each person has a different strategy, depending on the person's comfort in using the trading plan. The most important thing is when we choose altcoin, we see from the number of daily transactions and the products produced. As long as these two factors are met, I think holding on for the long term or trading on altcoin will make it comfortable for us

zero714309

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Learn by process,have a good technical/skills,money management and one good thing is experience. We need to know how good that altcoin so we can know the movement because each altcoin have different typical.

reality18

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To become a good trader, one must be ready to learn how things work when it comes to cryptocurrency trading because it goes beyond the mere principle of buying at certain low price and selling at certain high price to make profit. The trader must first know which exchange platform to choose for trading, which altcoins are favourable for trading at a particular point in time, how to access and analyze market trends and data, how to read market graphs etc.

charlop24

copper member

Activity: 560

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Quote from: upyem2k on August 23, 2019, 12:32:14 AM

I doubt if there is anything like good or bad trader of altcoins. It is just a matter of luck. Those you think are very good in trading have also bought or sold at a wrong timing losing a whole lots of money. I believe it is nothing but just luck to make a fortune in altcoins trading.

I agree with you, in trading cryptocurrency, there's an extent of experience, which is built over time and the issue of luck. Some trades are won out of luck and not because of the TA or FA conducted. There's actually no certainty in trading cryptocurrency as the market is not regulated.

michellee

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Quote from: suvo05 on August 04, 2019, 12:50:45 PM

When it comes to the trading of altcoin the I find it is one of the most complex jobs. There are lot of chances and possibilities. So to become a good trader of altcoins what are the main strategies do we need to have? Is it the best time to put money on the altcoin?

There are too many strategies we need to have, but the most thing is controlling ourselves in trading because that will be needed if we want to be a good trader. We need to have the ability to control ourselves, so we can trade without panic, worry, or think for the bad thing but that will not be easy as we know that controlling ourselves will be the hard thing. Besides that, you need to manage your money to be used in trading so you can use it to buy the right coin, and if you can do this, the next thing is to learn about the analysis. Learning the analysis is difficult, and it cannot master in one night, but we need to practice in every time we trade and sometimes, we could feel it's so difficult, and that will make us give up to learn.

Bossfidelity

copper member

Activity: 350

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There are various strategies employed by professional traders to get the best out of the market. One of such is trading altcoin with the USDT pair to easily know when one is making profits, rather than the btc or eth pair which could be complicated upon conversion. I personally prefer setting my orders in bits to increase my chances.

barbara44

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Quote from: Freescan on August 22, 2019, 03:13:41 AM

very risky if you use altcoin to trade especially when the market is unstable it is likely you will lose quickly, you better drive with bitcoin for daily trading, because bitcoin price movements are increasing.

For this season, I think it will be right to actually focus more on bitcoin trading now because anyone that is trading altcoins at this time that the markets are bleeding so much is doing so at his or her own risk. The best time to actually make much in trading is during bull run, and as we can see that only bitcoin is still the one that has been in its bull run since 3 months ago, and many people are beginning to pump their altcoins for bitcoin.

The only thing that is good about altcoins right now is just to buy them and hold since they are very cheap, this season will favor more of holders than traders, I mean holder can buy very low now and then wait for altcoins season for them to make so much money.

Nnuego

jr. member

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Buy altcoin when it is cheap and be patient enough to sell back when the price is pretty high. Invest on good ICO's project that has already been listed, and try much as to hodl their token

Lexurdania

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Quote from: suvo05 on August 04, 2019, 12:50:45 PM

When it comes to the trading of altcoin the I find it is one of the most complex jobs. There are lot of chances and possibilities. So to become a good trader of altcoins what are the main strategies do we need to have? Is it the best time to put money on the altcoin?

In my opinion, in every trade we do, there is no standard strategy because the market is very dynamic and price fluctuations are very high. The most important thing is that we implement our trading plan and are always patient to wait for the right moment

mamahdedeh

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Quote from: Polar91 on August 22, 2019, 08:00:30 PM

Quote from: suvo05 on August 04, 2019, 12:50:45 PM

When it comes to the trading of altcoin the I find it is one of the most complex jobs. There are lot of chances and possibilities. So to become a good trader of altcoins what are the main strategies do we need to have? Is it the best time to put money on the altcoin?

Sounds like you're an investor rather than a trader. Anyway, to be a good trader in altcoin you need to know which coin has the biggest volume per day, which coins are top gainers for a day, and which coins are the top losers for a day. By determining this, you can sort which altcoins are good to be traded; that's the time you'll apply the technical analysis, fundamental analysis, and risk management at the same time as much as possible.

of course bitcoin market analysis every day becomes our food, besides that we must have a good strategy to anticipate market conditions if it is not in accordance with our analysis. many things must be run when we trade, another case when investing, where there is no need to monitor the market often, because it is our goal for the long term

upyem2k

jr. member

Activity: 448

Merit: 1

I doubt if there is anything like good or bad trader of altcoins. It is just a matter of luck. Those you think are very good in trading have also bought or sold at a wrong timing losing a whole lots of money. I believe it is nothing but just luck to make a fortune in altcoins trading.

Topic: How to be a good traders of altcoins? (Read 4875 times)