In this current market, a good trader does his research, buys an altcoin on a dip on a good coin, then watches btc go crazy and crush the entire alt market, stares in horror as his alt collapses and if he's lucky, only loses about 20-30% on his/her investment. A bad trader loses 50-90%.
An exaggeration, of course, and I'm sure there are traders making some money under current market conditions. But right now trading alts probably isn't that profitable for most. Even buying good coins and timing things may not matter much, when the market is in freefall.
Topic: How to be a good traders of altcoins? - page 5. (Read 4855 times)
This is not an easy job, traders do this with different strategies and the level of expertise they know. True traders are old traders who have traded all the time, they have extensive knowledge about this. but i am not included. I prefer to take part in a long term investment
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?
1.Start with good capital.2.Don't pick shit coins for long term.
3.Follow the trend.
4.Use market cap but don't use it alone to find prices.
5.Learn lessons from your mistakes.
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?
I dont think its best time to buy altcoin, its time to buy more bitcoin. If we look at the graphic of bitcoin in 2017 every bitcoin increase will be followed by altcoin, but this is not happening absolutely now, many altcoins fall when bitcoin goes up and goes down if bitcoin goes down. This is a new thing that is likely due to stable coins such as USDT etc..Many traders after making a profit from Bitcoin save it to a stable coin, not to altcoin
The truth is altcoins trading are truly complex, don't let anybody say otherwise to you, it's what I have experienced. So my candid advice is this, before going fully into this altcoins trading, get an expert who very good in reading charts and that also know how to follow market movements and decisions, he or she can help you out by training you. That's my advice
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 many traders that I see that can't handle their emotions. When the price down, they are immediately panic and start selling their altcoins at the bottom. And then after the price bounce and goes up higher, they start buying at a high price.
This is why the main thing to learn from trading is how to handle your emotions. Emotions are the main skill to become a good trader.
Do not invest your money without analysing about the coins .. you need to recognize the variations of the price charts .. There are some tricks to get an idea about the price variation of a coin .. so first of all you need to analize about that .. and if you need to buy a coin , you should analise the price variation of that particular coin for last year of last few month..
According to my experience here is my litle advice
1. Make your own standard qualification for coin to trade, otherwise there will be lot of chances like you said
2. Focus only with five altcoin and maximum in seven altcoin, to many altcoin to watch will make you lost focus and then loss
3. Watch support and resistance for every coin, if a coin drop and almost touch support line do not open position to trade just more watch at this coin (I assume you want to buy)
4. Do not engage in pump coin, it will make a new tears later (I assume you don't have those coin, and so don't buy). It's better regret because not buy those coin rather than lose
5. If you have altcoin, and your altcoin being pump so cheer up, watch more at this coin and sell at best price. Do not greedy like you want to sell at higher price. Let say you sell your coin at 400 satoshi and seven hour after you sell your coin goes to 600 sathosi, i advice you don't buy coin at those price (600 satoshi) and hope you can sell at 700 satoshi
This is work for short trade, for long trade and carry trade i have another standard
1. Make your own standard qualification for coin to trade, otherwise there will be lot of chances like you said
2. Focus only with five altcoin and maximum in seven altcoin, to many altcoin to watch will make you lost focus and then loss
3. Watch support and resistance for every coin, if a coin drop and almost touch support line do not open position to trade just more watch at this coin (I assume you want to buy)
4. Do not engage in pump coin, it will make a new tears later (I assume you don't have those coin, and so don't buy). It's better regret because not buy those coin rather than lose
5. If you have altcoin, and your altcoin being pump so cheer up, watch more at this coin and sell at best price. Do not greedy like you want to sell at higher price. Let say you sell your coin at 400 satoshi and seven hour after you sell your coin goes to 600 sathosi, i advice you don't buy coin at those price (600 satoshi) and hope you can sell at 700 satoshi
This is work for short trade, for long trade and carry trade i have another standard
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?
my simple strategy is by using an Indicator,,
and usually i use RSI indicators combining with EMA, when the price touch oversold area i will buy,
then if the price touch overbought area i will sell my alts
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 profitable if you have a good experience, you found out the best way to earn cryptocurrency and its trading. Start to work about it, there’s no best time in trading with any coins because trading is about timing the market and that way you have to learn more about it.
To be a good trader of altcoin, we must at least have a good strategy, good patience, and also good behavior.
Well, trading is something easy, but of course, it may give us the big risks. Higher the risks will probably give us higher profits.
To be a good trader, we must first learn many things about each coin that is suitable for trading or not. We must also learn from our experience, setting the right strategy, know the market circulation and systems.
Well, trading is something easy, but of course, it may give us the big risks. Higher the risks will probably give us higher profits.
To be a good trader, we must first learn many things about each coin that is suitable for trading or not. We must also learn from our experience, setting the right strategy, know the market circulation and systems.
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?
When is the best time put money on altcoin? It depends on what altcoins you preferred to trade as all altcoins do have a different price behavior.
Strategies are varied per traders too since they have a different set of altcoins. They also have different criteria when to execute a certain strategy. Following one of those strategies might become difficult for you.
For now, I suggest sticking first with top altcoins before jumping on a low cap altcoin.
The most logical way is that you should only trade the Altcoins/USDT pair (or with another stablecoin) instead of the ETH or BTC pairs. Because of that you only have to analyze the volatility of Altcoins, it is easier for you to keep track of both prices of Altcoins and BTC.
In principle, you can buy gradually when the market falls, and sell when it grows again.
Trading coins or tokens are paired according to market conditions, whichever is more profitable. The theory is easy, buy when prices go down, sell when prices go up. But the analysis is not easy, there are many factors including indicators and the news and rumours circulating must be considered. Mental must also be managed well, avoid panic buy and sell. In principle, you can buy gradually when the market falls, and sell when it grows again.
Firstly, to be a good trader, you need to understand technical analysis to the core. Secondly, avoid buying coins blindly, buy because you have analyzed fully and decided to buy. Set your stop loss and also avoid greed. Do not rely on people's judgement, do your own research and also, follow your mind. When you think it's time to get out of the trade, do so. Talking about things to do to become a good trader will mean writing a book, I hope my few points aid.
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?
Keep learn and watching the direction of the market and that's a must and i assume you are a new trader that wanna try your chance to trade in the crypto market, right? This is not the best time to put all of the money in altcoin and you just waiting for at least a big drop in altcoin before you try to invest your money to decrease the risk to lose your money. Just be patience waiting for the bearish trend to happen and the timing is an important part when you are aiming to get a lot of profit.
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 of altcoins is more difficult than trading Bitcoin, altcoins have a higher fluctuating prices and mostly not available on every exchange. The best strategy is to have small profit/loss margin, and stick to the plan without chasing bigger profits.
1. Have a plan and stick to it. Define your entry points and exit points before you start, and then stick to them.
2. Be logical. Don't succumb to FOMO or panic-selling.
3. Don't hold on too long. If a trade starts going the wrong way, then re-assess it to decide if this trend is likely to continue. Know when to cut your losses.
4. Get some experience. This is the best teacher.
5. Stay away from low volume coins that have a big bid/ask spread (big gap between highest buy order and lowest sell order). You'd need a big market swing on these just to break even.
2. Be logical. Don't succumb to FOMO or panic-selling.
3. Don't hold on too long. If a trade starts going the wrong way, then re-assess it to decide if this trend is likely to continue. Know when to cut your losses.
4. Get some experience. This is the best teacher.
5. Stay away from low volume coins that have a big bid/ask spread (big gap between highest buy order and lowest sell order). You'd need a big market swing on these just to break even.
To add also from the above list, a trader should know at least the background of that specific altcoin he wants to trade with. If he is trading that coin blindly or without any idea where the developments of that coin is heading to, he might be trapped in pump and dump coins or crappy coins that have been continuously wash traded by the dev team to attract potential buyers. Learn the basics of that coin and their market trend behavior so you have the grasp of what's going on with that coin.
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?
You must be good in analysis. It's the main basis on how you will decide with your each trade. You need to be updated also with what's happening in the market including the coins that you hold and you are trading so that you can see if there's a buzz happening for that specific coin.Is it the best time to put money on the altcoin?
No, bitcoin is.
You need to do researches and studies with alternative cryptocurrency, its team and its development.
You need to get the best alt to buy and save it to earn. if you want to do day trading then it is different from buying and earn later.
You need to be more knowledgable in market and its volume plus the movement.,
You need to get the best alt to buy and save it to earn. if you want to do day trading then it is different from buying and earn later.
You need to be more knowledgable in market and its volume plus the movement.,
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When it comes to the trading of altcoin I find out, 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 now the best time to put money on the altcoin?
Just edited your OP to make it more understandable, trading of altcoin to be profitable has to do with, how informed you are as a trader and what are you chances of making the right call in regards to buying or selling your bag due to your speculation of what a news effect will have on the price of the altcoins. The altcoin market unlike that of bitcoin is mostly motivated by hype (a marketing strategy employed by altcoin to promote their project) irrespective of how legitimate or quality an altcoin is, without any hype of the project it becomes a dead project or goes under the radar away from the mainstream media.
The best strategy has to do with buying the rumors (that's why I said you have to stay informed) if a project is getting listed on a high volume exchange anything soon it's a clear sign some hype will come towards that project which will reflect on the price of the coins so as a trader your job is to take advantage of that opportunity to by the rumors in anticipation of the news to sell (take profit).
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