Topic: How to understand the altcoin market? - page 2. (Read 1618 times)
People who tell you to do your research usually mean that you have to pick a coin or several and buy those then after that to follow the market. It is easy to see which ones are hot but it takes a real good trader to spot a coin that is not very known and then buy alot of that when it is not very high in price then watch it shoot up in price in the next few weeks.
Hi guys,
I just start to trade altcoins since the start of March 2016, and currently I only have a few knowledge of how to understand the markets behavior.
What I know now? First is reading the candlesticks bar which shows whether it is a dump or pump. I currently going for low amount of coins in CCEX and Poloniex as they can give me better returns. What am I doing is a short-trade, buy 60 sell 62, depends on how fast others react.
But when chatting at Poloniex, MODS always remind me that I must research, to be honest I don't know where should I start.
So I tried Googling, understanding the altcoin market and get a few knowledge how to understand the basics.
My question is, when this guys tell me to do my research what does it exactly mean? Can you give an example so a newbie like me that never been in programming and trading before could understand.
Thanks guys, and I will be keeping in touch.
I just start to trade altcoins since the start of March 2016, and currently I only have a few knowledge of how to understand the markets behavior.
What I know now? First is reading the candlesticks bar which shows whether it is a dump or pump. I currently going for low amount of coins in CCEX and Poloniex as they can give me better returns. What am I doing is a short-trade, buy 60 sell 62, depends on how fast others react.
But when chatting at Poloniex, MODS always remind me that I must research, to be honest I don't know where should I start.
So I tried Googling, understanding the altcoin market and get a few knowledge how to understand the basics.
My question is, when this guys tell me to do my research what does it exactly mean? Can you give an example so a newbie like me that never been in programming and trading before could understand.
Thanks guys, and I will be keeping in touch.
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