How to be a good traders of altcoins? - page 4.

Mrcharles

copper member

Activity: 336

Merit: 5

Quote from: suvo05 on August 04, 2019, 01:50:45 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?

Am in agreement with the fact that there are lots of chances and possibilities with altcoin, but trading requires a great deal of patience and experience to succeed. I am of the opinion that the trading skills should be gotten before putting in money in altcoin trading to avoid issues of losses.

gunhell16

sr. member

Activity: 1666

Merit: 453

First you need to gather some good websites (exchanges) which has great volume and users.
You need to follow many project tokens in the community and make a research for them, join their groups.
Have a decent budget to control and hold and sell if only needed.
You need skills to be successful on this!

hirngespenst

full member

Activity: 812

Merit: 114

Personally, I think this is the best time to put money in Bitcoin. Though Altcoin trading seems difficult at this moment, you may buy from the news and sell when you get a little profit. Making Big profit is very tough right now, Yesterday I traded with ENG coin, the trade movement was difficult to understand and today the market falls! But if you buy bitcoin, you will make more profit for sure!

MirclIX

jr. member

Activity: 392

Merit: 2

To become a good altcoin trader, in my opinion, you need to very well study the processes taking place at the moment in the cryptocurrency market.
It is very important to have serious knowledge in this area and of course to believe in luck.

Bonwin

member

Activity: 798

Merit: 38

Quote from: ?? on ??

I don't think you'll get a clear and good answer.Each trader has his own strategy and factors, which no one will tell.Yes,there are standard tips - it's to be calm,cold mind,learn from other people's mistakes and others.The main thing is to constantly learn and gain experience,success will come with time.

Yes, no successful trader will want to divulge all the secrets to his success, because he us riding on other people's shoulders. He might give some tips, just as you have done in the simplest way, but which is not enough to succeed. Therefore, to get more inspired, such person is to look for materials online that can guide in the training and with constant practice, most especially with an amount you can afford to lose and without relenting, you will see yourself becoming a pro in trading not only altcoins, but also bitcoin.

pieppiep

hero member

Activity: 1596

Merit: 502

Quote from: suvo05 on August 04, 2019, 01:50:45 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?

You need to have self-control in trading because you will face the up and down of the price, so you don't have to be panic when you see it. You need to learn about trading, especially about how to get the right time to trade because not all traders can do that. Some traders follow the price when it starts to increase, and they don't use their time to buy the coin when it's at a low price. Some traders follow the news, and many of them are stuck at a high price because they see the news is not right.

It is the best time to use the money to buy the bitcoin and altcoin, but for buying bitcoin, you need to determine when you can buy bitcoin. If you can see the price is at the red candle, you can buy it directly, but you should know that the red candle doesn't mean the price is at a low price. The price can go lower without you can know.

beachbummer

full member

Activity: 251

Merit: 100

Here's a link to a short article I wrote on trading.

Just 6 quick points with a small explanation:

https://www.publish0x.com/cryptobeach/how-sleep-night-while-trading-crypto-xwwlzw

Do let me know via the comments if you need more info.

PuertoLibre

legendary

Activity: 1834

Merit: 1003

Quote from: trickyriky on August 20, 2019, 03:55:19 PM

Quote from: ?? on ??

Being an altcoin trader is not easy, we must be able to be active in the market. Every day we have to check changes in the price of Coins. We also have to be patient, and not greedy to get big profits. And the most important thing is we have to understand, which coins have good potential.

For successful crypto trading, you must have sufficient knowledge. This will avoid stupid mistakes and minimize the risks of losing money. You should remember about:
1. Discipline. The market moves in a circle, sooner or later your perseverance will be rewarded.
2. Reasonable deal size. Do not invest more than the amount you are willing to lose.
3. Limitation of losses. make sure that the amount of losses does not exceed 1% of the deposit.
4. Learn from mistakes.
5. Patience above all.

Discipline - the process of planning the trades and trading the planned orders.
The golden rule can be broken on the bear side of the market
Cutting losses can give a trading edge to any trader even in the loss

trickyriky

sr. member

Activity: 882

Merit: 251

Quote from: ?? on ??

Being an altcoin trader is not easy, we must be able to be active in the market. Every day we have to check changes in the price of Coins. We also have to be patient, and not greedy to get big profits. And the most important thing is we have to understand, which coins have good potential.

For successful crypto trading, you must have sufficient knowledge. This will avoid stupid mistakes and minimize the risks of losing money. You should remember about:
1. Discipline. The market moves in a circle, sooner or later your perseverance will be rewarded.
2. Reasonable deal size. Do not invest more than the amount you are willing to lose.
3. Limitation of losses. make sure that the amount of losses does not exceed 1% of the deposit.
4. Learn from mistakes.
5. Patience above all.

wildey

sr. member

Activity: 1120

Merit: 254

Leading Crypto Sports Betting & Casino Platform

Quote from: sana54210 on August 19, 2019, 12:02:07 PM

Quote from: ?? on ??

For long term investment, I think this is a good time to buy a coin with potentials because the price is very down.
Talking about the strategy of being a good trader, first, you must be smart and following up the coin you wish to trade.
Also you need to set emotions aside,your emotions shouldn't control you, don't panic buy or panic sell.

The coins that I found most as having potentials are coins that were graded as some high rated top 10 coins, those are the coins that can be used as long-term project and can serve as store of value, we have some other ones that are great too, but I am still doubting their loyalty and their dedication to the project.

I use to believe in some projects like Cardano, Ada, stellar and many more off them, but I dint know what is really happening to them and why they are not making much efforts to ensure that their project is being used often, only bitcoin, Ethereum and some few ones are always talked about in the cryptocurrency industry, but I think they are still worth giving a trial, maybe it is just the bear market of altcoins affecting them which will soon be over.

we will only always guess about the development of prices on altcoin for now, especially for the 10 best altcoins. but, I also discovered the fact that the top 10 coins are very good coins to hold in the long run.

However, speaking of the top 10 altcoins, I want to focus on BNB which is a coin that is good enough to hold for a long time. for now, altcoin prices are very unstable, but we can see that the price is still close to the price of $ 30 for now, where for almost a long time this coin is stable at that price. the current development of binance is quite good, so I think the price can increase in the near future, and this is very suitable to be held in a long time.

however, to be a good trader, we need to see the potential of an altcoin and make a decision. in this matter, I see BNB like that.

sana54210

legendary

Activity: 3178

Merit: 1128

Quote from: ?? on ??

For long term investment, I think this is a good time to buy a coin with potentials because the price is very down.
Talking about the strategy of being a good trader, first, you must be smart and following up the coin you wish to trade.
Also you need to set emotions aside,your emotions shouldn't control you, don't panic buy or panic sell.

The coins that I found most as having potentials are coins that were graded as some high rated top 10 coins, those are the coins that can be used as long-term project and can serve as store of value, we have some other ones that are great too, but I am still doubting their loyalty and their dedication to the project.

I use to believe in some projects like Cardano, Ada, stellar and many more off them, but I dint know what is really happening to them and why they are not making much efforts to ensure that their project is being used often, only bitcoin, Ethereum and some few ones are always talked about in the cryptocurrency industry, but I think they are still worth giving a trial, maybe it is just the bear market of altcoins affecting them which will soon be over.

accounting 181293

member

Activity: 662

Merit: 11

www.cd3d.app

Quote from: suvo05 on August 04, 2019, 01:50:45 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?

the most important thing is don't be greedy many of us lose just because we are too greedy. so the first thing is to always focus on the targeted profit you want to achieve, don't be too big or small. after the target is reached you must immediately sell it. don't think the price will go higher (this is what often makes the trader lose).

second, always trade on coins that have a large merketcap, coins with large merketcap are difficult to manipulate (even though it is not impossible to manipulate, this is only to minimize the risk of loss).

and third, don't be influenced by any speculation. even if it's said by experts. we just simply trust news that contains facts.

mr_random

legendary

Activity: 1260

Merit: 1001

Quote from: Handsome Boy on August 08, 2019, 07:33:12 PM

Quote from: suvo05 on August 04, 2019, 01:50:45 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?

the best strategy if you want to trading on altcoin is :
1. You have to be patient (don't panic sell and panic buy)
2. always monitor the movements of altcoin (rising and falling coin that you want to invest or coin that you already have)
3. see opportunities (buy when there is a panic sell and sell when there is a panic buy)
4. provide a profit target and not greedy (I usually always target to get a 5-10% profit)
5. always read news about cryptocurrency, because it can give you a reference to choosing good altcoin as an investment

and true, that now is the right time to invest in altcoin, because the price of altcoin is still cheap and has not risen very high (bull run) for now, so this is your chance to get a big profit before the price of altcoin rises very high.

Patience is the important factor in the trading and ignoring it will lead the more losses. Having a decent trading setup will let the trader take the opportunities to form the altcoin market strategy. Reading the daily news will make the person more knowledgeable trader and having enough understanding is always good than trading blindly the volatile crypto markets. Profit trailing bots will do a job instead of tracking every single trade setup one by one, subscription fee worths to give a privilege the software programmers for the same job. Overall, the generalization will only explain the idea to the beginner altcoin traders but it is not sufficient for comp[letyin the crypto trading lessons.

Handsome Boy

copper member

Activity: 812

Merit: 12

I ❤ ₿itcoin and Ethereum

Quote from: suvo05 on August 04, 2019, 01:50:45 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?

the best strategy if you want to trading on altcoin is :
1. You have to be patient (don't panic sell and panic buy)
2. always monitor the movements of altcoin (rising and falling coin that you want to invest or coin that you already have)
3. see opportunities (buy when there is a panic sell and sell when there is a panic buy)
4. provide a profit target and not greedy (I usually always target to get a 5-10% profit)
5. always read news about cryptocurrency, because it can give you a reference to choosing good altcoin as an investment

and true, that now is the right time to invest in altcoin, because the price of altcoin is still cheap and has not risen very high (bull run) for now, so this is your chance to get a big profit before the price of altcoin rises very high.

Rubick99

member

Activity: 484

Merit: 11

If you mean that good trader is someone who always gets profit when doing the transaction on the market, that is impossible to do. We just can manage our balances wisely to buy altcoin, like buying a coin step by step to reduce the risk and taking profit in the price that first time you have bought. One thing that you must know, where the price will be going after you bought them, not hoping that you will profit by gambling method.

South Park

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I am terrible at Fantasy Football!!!

Quote from: suvo05 on August 04, 2019, 01:50:45 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?

Trading altcoins is no different than to trade any other asset since there are basically only to ways to trade and that is to use fundamental analysis or technical analysis, but both have its limitations, in the case of fundamental analysis you need to try to analyze every single piece of information about the altcoin but the problem is the market is full of scammers creating fake news and falsifying information, so fundamental analysis does not seem to be as effective as it could, you could use technical analysis but the main condition to apply it is to do it in coins with enough volume so you cannot use it with icos and coins with a low volume.

Furious 7

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Activity: 2856

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https://duelbits.com/

Very dizzy to follow the movements of altcoin, difficult to predict. I almost gave up becoming a trader.
altcoin is always changing and influenced by bitcoin, I did not find altcoin interesting to trade.
maybe BNB is the only coin that looks interesting.

chanler

member

Activity: 753

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mulierum.com

A good trader should meet some criteria, but of course, everybody has different criteria. 'At least, they should have these things:
1. Awareness of the risks and profits that will be gained as a trader
2. Updated info andmarket analyze on the market.
3. Experienced
4. KNow well about the right coins for trading, for investment or holding
5. Never be panic whatever the condition of the market
6/ Can take the right decision at the right moment
7. Want to learn and learn more by doing and learning about crypto updates and its certain strategy

iTradeChips

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Leading Crypto Sports Betting & Casino Platform

Planning is essential to become a good trader. I always have a spreadsheet with me that has a list of the prices of the altcoins that I want to invest with and then I do some analysis as to when will I be making a buy of that coin. Then using a little math to calculate how much I want to earn and how long I could achieve that, then I make a sale. Then profit. After that you repeat.

qazgroup

member

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RiveMont

What i have learnt is that there are two very high impact factors that are the main reason of altcoin price movements one of them is the fundamental news of the project/company/team behind the alt and secondly the most important factor that is driving the alt price nowadays is the btc dominancy which is growing and having a negative impact on alt prices at the moment, lastly technical analysis is also a key thing but again it can be helpful all the times.

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