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Topic: How to be a good traders of altcoins? - page 6. (Read 4813 times)

legendary
Activity: 2240
Merit: 4133
eXch.cx - Automatic crypto Swap Exchange.
August 04, 2019, 04:30:08 PM
#12
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).
sr. member
Activity: 784
Merit: 250
DIA | Data infrastructure for DeFi
August 04, 2019, 04:14:40 PM
#11
Hard work pays off. This is a very important rule for every trader, because you would not achieve good profit without hours of work. Moreover, you should not panic at difficult situations, always stay calm and make cold blooded decisions.
full member
Activity: 476
Merit: 120
August 04, 2019, 04:12:30 PM
#10
Part of the investment in Bitcoin part in usd and waiting for the start of the Alt season, this is my strategy until Bitcoin gaining dominance, you cant normal trade.
Bitcoin is increasing its dominance. That alt season will be I'm sure, but to properly determine its beginning it is almost impossible task.
member
Activity: 546
Merit: 11
August 04, 2019, 04:02:21 PM
#9
Part of the investment in Bitcoin part in usd and waiting for the start of the Alt season, this is my strategy until Bitcoin gaining dominance, you cant normal trade.
member
Activity: 250
Merit: 10
August 04, 2019, 03:53:32 PM
#8
for me , first thing to do when want to trading on altcoin is checking the bitcoin price , when the price is on stable price then i will start to trading for alt coin
usually alt coin always get down when btc get pump or dump
sr. member
Activity: 1680
Merit: 259
August 04, 2019, 03:46:57 PM
#7
The most important thing is patience as a trader, we have to see good altcoin coins and be able to read charts and know the latest news about altcoin in some of the most important extraordinary people from Twitter or the website, maybe that will be a strategy for you.
sr. member
Activity: 1274
Merit: 267
August 04, 2019, 02:20:40 PM
#6
Just do it, you will have your own strategy after experience falling. Mentality is power, it doesnt matter how great your strategy if you can't win your ego, then you will always fall.
member
Activity: 854
Merit: 10
August 04, 2019, 02:16:35 PM
#5
Something you need to learn, if you want to trade is to have to know exactly where you will trade. And  looking for information, as much as you can about how to trade properly.
legendary
Activity: 1904
Merit: 1277
August 04, 2019, 02:07:12 PM
#4
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.
full member
Activity: 447
Merit: 100
August 04, 2019, 02:05:12 PM
#3
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 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.
sr. member
Activity: 1526
Merit: 282
tBTC - https://dapp.tbtc.network/
August 04, 2019, 02:00:25 PM
#2
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?

Be active, smart and hardworking.
cryptocurrency especially altcoin is not something that we can understand it easily because manipulation is one of the biggest parts in it. If you want to be a good trader, you need to learn everything about the object that you are traded for and then you need to read their community sentiment. Because the price is determined by the player themself.
about the time, nobody knows. Because we are totally different between one and another, and everybody has different needs too. So it is extremely hard to figure out what is the best time to put our money because we have a different perspective, goal and else.
sr. member
Activity: 1162
Merit: 260
August 04, 2019, 01:50:45 PM
#1
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?
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