Topic: I'm thinking about trading. My name says it all. (Read 646 times)
Since you are just thinking and planning to get into trading, better familiarize yourself first with the market and the potential coins that can be found on it to gain profit. I know you have said that it is just for past time but still you will be inputting a decent amount of money so you must be able to make use of it properly and effectively. Start first from the basic of educating yourself first all about trading and find the best platform that will cater your trading and better do trade into those with good credentials rather than trying into unknown trading platforms where you might be at risks. Gain yourself knowledge before engagement to lessen the probability of encountering certain risks associated with trading.
As you are new in trading, I will suggest you go with binnace. Because it has user-friendly mobile apps that will give you a smooth trading experience.
Now comes to fund management. If I had 1200$ now, I would always keep 300-400$ in bitcoin. The remaining 800$ I will use for Altcoins. From that, I will keep 200$ on ETH. For the remaining balance, I will keep eye on the top listed altcoins( for me it is the top 150 on coinmarketcap) movement. Once I see an entry point I will make an entry. And will leave the coin with a 10% profit margin or 5% stop-loss.
Now comes to fund management. If I had 1200$ now, I would always keep 300-400$ in bitcoin. The remaining 800$ I will use for Altcoins. From that, I will keep 200$ on ETH. For the remaining balance, I will keep eye on the top listed altcoins( for me it is the top 150 on coinmarketcap) movement. Once I see an entry point I will make an entry. And will leave the coin with a 10% profit margin or 5% stop-loss.
Smart decision to keep 1/3 in BTC and another part in ALT!
As you are new in trading, I will suggest you go with binnace. Because it has user-friendly mobile apps that will give you a smooth trading experience.
Now comes to fund management. If I had 1200$ now, I would always keep 300-400$ in bitcoin. The remaining 800$ I will use for Altcoins. From that, I will keep 200$ on ETH. For the remaining balance, I will keep eye on the top listed altcoins( for me it is the top 150 on coinmarketcap) movement. Once I see an entry point I will make an entry. And will leave the coin with a 10% profit margin or 5% stop-loss.
Now comes to fund management. If I had 1200$ now, I would always keep 300-400$ in bitcoin. The remaining 800$ I will use for Altcoins. From that, I will keep 200$ on ETH. For the remaining balance, I will keep eye on the top listed altcoins( for me it is the top 150 on coinmarketcap) movement. Once I see an entry point I will make an entry. And will leave the coin with a 10% profit margin or 5% stop-loss.
Knowing that market moves all together is number one topic that everyone should know, that is crypto trading 101, along with it is very volatile compared to everything else so you should be patient. So, just know these two things and you will be fine.
When crypto goes down, bitcoin and ethereum and everything else all goes down together they are usually things that act together, the % will change but it will be down together, when it goes up it goes up together and once again % how much they go up will be different but it will do it together, that is a vital information you should know.
Secondly price could be 10k today, 7k tomorrow and 12k next day, it could make wildest moves, do not be afraid or hyped about the moves, be calm and ready for anything that could happen.
When crypto goes down, bitcoin and ethereum and everything else all goes down together they are usually things that act together, the % will change but it will be down together, when it goes up it goes up together and once again % how much they go up will be different but it will do it together, that is a vital information you should know.
Secondly price could be 10k today, 7k tomorrow and 12k next day, it could make wildest moves, do not be afraid or hyped about the moves, be calm and ready for anything that could happen.
The crypto market is much better for trading but you need to know about the market first. The crypto market is not stable and you always have to learn these ups and downs these need to be analyzed when the currency price rises and falls. Know the trends of the indicators of trading signals many times in case of error in currency verification it is necessary to do good research.
I would say trading is not for everyone since you will need to be spending lots of time and effort plus losses if you really want to choose the trading career. It takes a lot of patience to make a good profit sometimes but don't expect a straight profit everyday since the market is so unique that you can't expect it to go where you want it to expect to go. This is how the market is so unpredictable that's why few people can only make a good profit from this market.
The crypto market is much better for trading but you need to know about the market first. The crypto market is not stable and you always have to learn these ups and downs these need to be analyzed when the currency price rises and falls. Know the trends of the indicators of trading signals many times in case of error in currency verification it is necessary to do good research.
I am not against using these type of stuff for trading, you can use any indicator you want and you will be able to actually profit from them as well if you are lucky. But when you are a newbie and you do not know the full extent of TA you should know that TA doesn't guarantee success. If it did guaranteed success whatever indicator is 100% right we would all take a look at that and make trades according to it and we all would be rich.
However TA is just a guide, it could show you the path but you have to take that path yourself and sometimes that road is paved with challenges and you may end up losing money as well. Do not think of TA as something that will surely make you profit, it is just a thing that helps you so that you do not go in blind to trading.
However TA is just a guide, it could show you the path but you have to take that path yourself and sometimes that road is paved with challenges and you may end up losing money as well. Do not think of TA as something that will surely make you profit, it is just a thing that helps you so that you do not go in blind to trading.
Maybe you can share what analysis have you learned?
If you want day profit with $1200 i think this is very possible.
But how much your target profit for 1D ?
NOTE.
Key for Day Trading is "take control of your desires".
Using $1200 will not be a problem to do day trading, but he needs to have the skills to choose the coin and analyze it. No matter how much money you want to use to trade, if you don't have skills, it is difficult to buy low and sell high because you need to analyze it to find the coin. Maybe he will divide $1200 into some part to be used for trading because if he goes all in with that money, that will not be wise as the market still move, and we are hard to predict where the price will go.If you want day profit with $1200 i think this is very possible.
But how much your target profit for 1D ?
NOTE.
Key for Day Trading is "take control of your desires".
hahahahai think he already research about crypto. aAnd i want him to share what he has gained from the research here.
Because a lots of analysis about crypto movements.
But i am not hahahaha...
This is my analysis indicator, may be useful....
1. Bolinger Band
2. Parabolic SAR
3. Stochastic Oscillator
4. Moving Average
I am used 4 point above every trade in future market or / and spot market.
I still prefer to use the usual exchange because I don't have to keep on the front of my computer to analyze or execute, and I can do other things besides trading.
Hello, everyone.
I did some research on trading cryptocurrencies, but I suppose it's better I get some input from experienced members here.
Here's the thing - I have a lot of free time on my hands. I'm thinking about buying a tiny amount (1.000 EUR or 1200 USD) worth of cryptocurrency (I'm leaning towards Ethereum or Bitcoin) and basically buying lower and selling higher throughout the day.
No, I don't expect to get rich from this. I simply need something to pass the time and if I can also make a profit off it, why not?
So I believe what I'm interested in is called "day trading". I have found numerous pros and cons regarding this method, but as I said, I want to engage in something on a daily basis, investing and holding on for a period of time is something I'm really not interested in.
I heard of Coinbase, Coinstats and Binance. Are there any other platforms worth looking into?
Thank you.
Binance or Bitmex are the only two platforms that could give you chance of having a profitable day trading. Coinbase is a big no for day trading you will end up spending a hell lot on the fees itself. But apart from platform it would require a great deal of discipline. Moreover be ready lose all the money that you are going to throw in for the first round. Take this as an entry fees which market takes to teach you some great things. But if you have time on hand and are willing to utilize this time to the best 6-7 months of consistent trading would start reaping out some profits for you. As you said it won't make you rich but would give you a good ROI of your money. Do study the Risk management and money management principles before hopping in to trade they are of utmost importance. I did some research on trading cryptocurrencies, but I suppose it's better I get some input from experienced members here.
Here's the thing - I have a lot of free time on my hands. I'm thinking about buying a tiny amount (1.000 EUR or 1200 USD) worth of cryptocurrency (I'm leaning towards Ethereum or Bitcoin) and basically buying lower and selling higher throughout the day.
No, I don't expect to get rich from this. I simply need something to pass the time and if I can also make a profit off it, why not?
So I believe what I'm interested in is called "day trading". I have found numerous pros and cons regarding this method, but as I said, I want to engage in something on a daily basis, investing and holding on for a period of time is something I'm really not interested in.
I heard of Coinbase, Coinstats and Binance. Are there any other platforms worth looking into?
Thank you.
Right now as a newbie I would say that buying and holding for a while is a better option for you, however do not just assume that is the only thing you can do. All the new people do bring in something to crypto world, what can you do? What do you do in your free time? What is your work and what are you trained in? Think of all these things and try to combine them with how you can make more bitcoin as well.
I would personally say that if you could potentially make a point about how to trade carefully, I would say 1000 dollar is not a lot of money and you could maybe try to trade with half of that while the other half stays in bitcoin. That way bitcoin could be 20k one day and you will have 1k anyway, and meanwhile other 500 will be worked towards making better results with no downside.
I would personally say that if you could potentially make a point about how to trade carefully, I would say 1000 dollar is not a lot of money and you could maybe try to trade with half of that while the other half stays in bitcoin. That way bitcoin could be 20k one day and you will have 1k anyway, and meanwhile other 500 will be worked towards making better results with no downside.
Although OP is interested in the trading his money, then I would suggest why not go for gambling over reputed casinos. I mean all you want to do is spare your time with the money you have got.
May half of your thousand bucks can be placed into gambling and believe me there are large number of fun games you would want to play.
Well, about the exchangers, people have already answered it up here. But do try out of the box passing of time too. ;-)
May half of your thousand bucks can be placed into gambling and believe me there are large number of fun games you would want to play.
Well, about the exchangers, people have already answered it up here. But do try out of the box passing of time too. ;-)
I don't expect to get rich from this. I simply need something to pass the time and if I can also make a profit off it, why not?
So I believe what I'm interested in is called "day trading". I have found numerous pros and cons regarding this method, but as I said, I want to engage in something on a daily basis, investing and holding on for a period of time is something I'm really not interested in.
I feel like lots of contradictions within the statement I have quoted above. I mean when you do not expect to be rich out of your small capital then you do not need to engage in crypto trading actively. This is how this crypto space and its trading working and I guess you cannot do anything about that.So I believe what I'm interested in is called "day trading". I have found numerous pros and cons regarding this method, but as I said, I want to engage in something on a daily basis, investing and holding on for a period of time is something I'm really not interested in.
Yes, I either you need to change your approach toward crypto trading or else you may need to rearrange your targets so that you can actively stay in crypto trading.
There are people here who are dreaming about making millions out of crypto trading but they do not have enough time and that is the reason they are simply choosing holding way of investment and keep looking forward their long-term targets. When you are having enough free time for trading then you must need to rearrange your target which will help as per your active way of trading.
Heard that eToro also has copy trading.
Yeah and it also has a few other so-called signal tools, but they're being quiet about their Twitter sentiment tool hyped back about a year ago. It was actually losing them a lot of money until this year of course, where the rally has been pushing everyone's portfolio up by a lot. Defi sentiment feeding into profits so expect all these tools to get another round of shilling.
@OP: Don't trade=p
Maybe you can share what analysis have you learned?
If you want day profit with $1200 i think this is very possible.
But how much your target profit for 1D ?
NOTE.
Key for Day Trading is "take control of your desires".
Using $1200 will not be a problem to do day trading, but he needs to have the skills to choose the coin and analyze it. No matter how much money you want to use to trade, if you don't have skills, it is difficult to buy low and sell high because you need to analyze it to find the coin. Maybe he will divide $1200 into some part to be used for trading because if he goes all in with that money, that will not be wise as the market still move, and we are hard to predict where the price will go.If you want day profit with $1200 i think this is very possible.
But how much your target profit for 1D ?
NOTE.
Key for Day Trading is "take control of your desires".
hahahahai think he already research about crypto. aAnd i want him to share what he has gained from the research here.
Because a lots of analysis about crypto movements.
But i am not hahahaha...
This is my analysis indicator, may be useful....
1. Bolinger Band
2. Parabolic SAR
3. Stochastic Oscillator
4. Moving Average
I am used 4 point above every trade in future market or / and spot market.
If you are new to trading, you should not do day trading first. Because in my opinion day trading is not suitable for newbies,
to be able to do day trading you must have trading skills and experience. There is a big possibility that you will experience a loss,
if you insist on day trading, then you plan to use a capital of $ 1,200. That's a lot of capital in my opinion, you should start trading
from $ 100 first. If you succeed in using $ 100 of capital, you can increase the amount of capital used. Then regarding the selection
of coins, for newbies it is as good as trading using Bitcoin or Ethereum, because both coins are very safe for trading. And my advice
is to use Binance exchange as a trading place, because it is very reliable and also has complete features for trading.
to be able to do day trading you must have trading skills and experience. There is a big possibility that you will experience a loss,
if you insist on day trading, then you plan to use a capital of $ 1,200. That's a lot of capital in my opinion, you should start trading
from $ 100 first. If you succeed in using $ 100 of capital, you can increase the amount of capital used. Then regarding the selection
of coins, for newbies it is as good as trading using Bitcoin or Ethereum, because both coins are very safe for trading. And my advice
is to use Binance exchange as a trading place, because it is very reliable and also has complete features for trading.
I'm using the binance and I already stick to this platform because they have different features I really love which is a good thing when I make a trader with my computer I can access this too at my application which is easier to find out what is happening on my trade unlike using the browser.
If the OP things he is good at trading and want to win those trades still it takes a long experience before he win all of those earnings. My first trade does not go far but I have profit too.
Knowledge and experience are one of the best tandem to win.
Dude if you are new to Crypto, trading is the last thing you wanna do. First thing you need to do is get in the crypto world then by doing research you can slowly start trading. Also always try to find out why a certain coin is having a sudden increase or fall.
If the OP things he is good at trading and want to win those trades still it takes a long experience before he win all of those earnings. My first trade does not go far but I have profit too.
Knowledge and experience are one of the best tandem to win.
Maybe you can share what analysis have you learned?
If you want day profit with $1200 i think this is very possible.
But how much your target profit for 1D ?
NOTE.
Key for Day Trading is "take control of your desires".
Using $1200 will not be a problem to do day trading, but he needs to have the skills to choose the coin and analyze it. No matter how much money you want to use to trade, if you don't have skills, it is difficult to buy low and sell high because you need to analyze it to find the coin. Maybe he will divide $1200 into some part to be used for trading because if he goes all in with that money, that will not be wise as the market still move, and we are hard to predict where the price will go.If you want day profit with $1200 i think this is very possible.
But how much your target profit for 1D ?
NOTE.
Key for Day Trading is "take control of your desires".
hahahahai think he already research about crypto. aAnd i want him to share what he has gained from the research here.
Because a lots of analysis about crypto movements.
Dude if you are new to Crypto, trading is the last thing you wanna do. First thing you need to do is get in the crypto world then by doing research you can slowly start trading. Also always try to find out why a certain coin is having a sudden increase or fall.
Maybe you can share what analysis have you learned?
If you want day profit with $1200 i think this is very possible.
But how much your target profit for 1D ?
NOTE.
Key for Day Trading is "take control of your desires".
If you want day profit with $1200 i think this is very possible.
But how much your target profit for 1D ?
NOTE.
Key for Day Trading is "take control of your desires".
Using $1200 will not be a problem to do day trading, but he needs to have the skills to choose the coin and analyze it. No matter how much money you want to use to trade, if you don't have skills, it is difficult to buy low and sell high because you need to analyze it to find the coin. Maybe he will divide $1200 into some part to be used for trading because if he goes all in with that money, that will not be wise as the market still move, and we are hard to predict where the price will go.
what
hahahahai think he already research about crypto. aAnd i want him to share what he has gained from the research here.
Because a lots of analysis about crypto movements.
Maybe you can share what analysis have you learned?
If you want day profit with $1200 i think this is very possible.
But how much your target profit for 1D ?
NOTE.
Key for Day Trading is "take control of your desires".
If you want day profit with $1200 i think this is very possible.
But how much your target profit for 1D ?
NOTE.
Key for Day Trading is "take control of your desires".
Using $1200 will not be a problem to do day trading, but he needs to have the skills to choose the coin and analyze it. No matter how much money you want to use to trade, if you don't have skills, it is difficult to buy low and sell high because you need to analyze it to find the coin. Maybe he will divide $1200 into some part to be used for trading because if he goes all in with that money, that will not be wise as the market still move, and we are hard to predict where the price will go.
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