Topic: Need a piece of advice form experienced traders (Read 527 times)

I think there should be analysis and research about the closed market before trading somewhere Because many times it is wrong to declare therefore considering the environment around the Church then it should be traded. That is why one side should be used without trade so if one is damaged then the other will be poured Many bulls should be traded on the exchange side and then traded Otherwise we could lose the money we invested.

I don't recommend to do arbitrage trading if we are in the unpredicted market because we can feel hard to analyze the coin price movements. And we also difficult to buy at the right time and send it to another exchange. Besides that, we need to think about how long the transaction will be completed so we can sell it directly to the other exchanges. It is better to stick to one exchange until we can see the chance for us to arbitrage into another exchange.

I prefer to be attached to a market rather than take advantage of other markets when the price goes up or down to buy or sell. however, it is quite troublesome, because we need to move around to sell assets. so far, I have only been tied to one market, but when there is the potential to sell at high prices, I will take that opportunity. I am a trader, so I always aim for the highest profit.

of course to make purchases in trading the most important thing I usually do is to decide on the best price to buy it, so that later it has a target to resell when the market price has increased so that the percentage of profit obtained can be satisfying

Strategy to arbitrage indeed require a lot of time to continuously monitor market prices, This is because there is very little price difference between one market and another, We must be able to put our eyes on market prices so that we are not negligent to take a best moments.

I believe that is true but it is not an easy walk. That is what I meant by that.
You could also lose money here. If you trade at a bad time and the exchange suddenly dropped earlier than the other then it could mean a great loss in capital.
That is all I am saying.
But, if you are really good in it then I think you won't be having any problems about it.
How could you tell yourself you are good in it with this volatile market?

I don't know if you're just promoting a certain exchange or you are one of their members and trying to attract traders to use this. But I have to respect with you.

BTW, I'm not really familiar to this exchange and I don't want to put any conclusions that it works great or not. And it doesn't matter to me, the most important is we are satisfied enough and really taking care of the trader's funds and having safety assurance, nothing more.

Well, there is no difference when you have a reliable exchange. For example, I use CoinDeal and this is one of the most professional exchanges I've ever used. So, I know that it offers "normal" prices. There is no use changing platform every time when you buy Bitcoin... Especially when cryptocurrency exchanges often offer great profits for their "oldest" users. CoinDeal had a giveaway with free tokens and now, if you have some of them, they can lower your fees. So, it's good to use only one exchange.

I do know one guy that has accounts in many exchanges that he tries arbitrage, I think he uses a bot as well and that dude does make a small amount of money. I think there are telegram bots now that notify you when there is a difference bigger than the withdrawal amount and depending on how much you trade with.

I mean think about it when you have 10 bitcoins to play, the 0.0005 withdrawal fee becomes not that important and I think people get together to make a bigger bankroll and they do it together as well. It is not quite common and it is very difficult to achieve but those type of people who insist on succeeding finally manages it, we the people who just say "it is hard" and give up quickly fail to see the profits that could be made from these kinds of things.

People having many assets on different exchanges are usually for doing arbitrage, they have many exchanges account and watch the price everytime, and when they see a decent different price from one exchange to another, they will transfer the coins and sell it to another exchange, but this strategy is need really much time to spend to watch the charts between exchanges

Yes, I stick to one exchange.
Mostly Binance.
When I visit other exchanges, I just use it to look for how much my other coins value is.
But when it comes to bitcoin trading, I just stop to one exchanges.

Even if they have different prices the arbitrage is not that easy to get.
Sending from Binance to another exchange and back will just get you dizzy and also fees are need to be paid. Then what? You exchange it to USDT and back? There is no assurance for profit.

all stock exchanges will not be different, usually if there is a difference in the difference of many people who arbitrate, so the prices of all exchanges are almost the same to buy and sell bitcoin with usd, nothing is different, usually I see where exchanges that have high trading volume I will happy to make an account there because many users certainly look safe to me, another one I usually see from the withdrawal fee, the lower then I will be happy to be there, I have an account on binance

Even though I am not a pro trader who can make big profits, but you could say I am an experienced trader underwent trading for 4 years.
I will give a little advice regarding arbitrage which in my opinion is not very profitable to do, because doing arbitrage is not as easy as
imagined. Not just buying coins at one exchange and selling it at another exchange. Not that simple, it must also be calculated the withdrawal
fee and also requires substantial capital. Sometimes when we have coins for arbitrage, the prices drop suddenly when coins have been
successfully sent to other exchanges.So this will only waste time, and also we even lost the withdrawal fee. Therefore learning from this
experience right now I only trade in one exchanges, it turns out to be more time-saving and profitable.

If you are going to chose among the trading sites around, go with the top 10 according to CMC, they are not among the top 10 for nothing. One reason why I stick with only 3 trading sites is because they are trusted by many and the ease of withdrawing funds. If they are going to give me a hard time and wait for a long time like 48 hours to withdraw my funds then I will bring my business elsewhere.

I don't consider my self being an expert in trading but as I've experienced trading, I could find out that it is much better to have at least 2-3 exchanges to have. This serves as an option in which one has a high offer cause not all of them have the same. But we should have to consider its market volume first cause this only gives assurance that our funds could move and we can do buying and selling pretty quickly.

At first I want to mention that I amn't expert trader and for me no one is expert because trading is halfly luck too.
In your case, it depends on situation cause if you really have great deal, why to miss it? But in overall I'm bond with certain exchanges because deals on arbitrage trading isn't really good and personally I prefer to catch great moments rather than every moment.
I bond with certain exchanges cause I don't withdraw money from exchanges very often (a little bit lazy and hate fees) and because of this, security means a lot for me.

The exchange service you will use to trade will usually be very close to each other in terms of price, so there is no special service to sell at a higher price. The most important factor to consider when choosing an Exchange service is the high transaction volume, because prices with low transaction volume are too late and may react abnormally. I usually use Binance, Binance Dex and Switcheo exhange services.

I usually stick with one exchange and do my trades there and don't look at other places for the differences.

However, my reasoning for that is the fact that withdrawals take too much time and require a lot of money, so even if there is a better offer somewhere else I usually end up with enough loss during the transactions that I don't make any profits at all.

So, I would love to do arbitrage but I can't because I don't make profit while sending money from one place to another, its not like you can send it directly as it is and the difference thanks to withdrawal fee is usually bigger than the difference in the price so its not profitable to do so. I tried it couple times with local exchanges because difference there is higher but even with that it wasn't too much profitable.

Focusing on best rate across exchanges can be profitable if you can find good opportunity regularly... . That's called arbitraging. You could even buy very cheaply from individual sellers on peer-to-peer exchanges and sell higher on normal exchanges or to individual buyers.
Most traders probably have favorite exchange they stick with. Other traders are probably not loyal to any exchange. They switch between multiple exchanges when trading opportunities are found. And this can be handled better on a multi-exchange platform.

I personally always look for the best price when I want to sell / buy my Crypto. But I see rarely have a large price difference. It is better for you to trade not only in one market but trading in several markets that have a high volume, like Binance, Huobi, Kucoin etc.

I only used one exchange to monitor the flow of the price, upon seeing a good opportunity to buy or sell then I will make a move its better to find a good exchange site where you feel good to stay in that case you will find your own trafing set up.

I'm don't feel the need to make an exchange only in one market. Of course, I look for the best rate but for trading, volume/liquidity is more important. Market with better liquidity tends to have a better rate because any slight difference (spreads) between exchanges could be arbitraged.

Trading is about an exchange of currency into another coin that gives you profit, one of the primary goals of every trader is to have their earnings with the use of different styles like in short and long term trading. Those trading methods depend on your trading style, in trading having money or profit is not enough you also need to know what is the basic techniques and how to read when is the coin will be profitable. First, make your research this is they to success you must be knowledgeable in trading like what is the coin suits to your short or long term trading, second you must ready an initial balance for trading to know how does it work. By this knowledge you learned you can now use those as an advantage to other traders and gives you a lot of money, lastly is trust to your every trade you cannot pull out every time if you doubt you cannot earn profit by that.

Doesn't matter. As long as it is not above the basis price of all the exchange.
Stay with one exchange. Follow how much per bitcoin is.

If you are talking about arbitrage then it will be a difficult path.
Better to just stay with trading in one exchange then do everything you can to make profit.
That is already risky, you should not put it in higher risk.

These topic is very often and common so what you're looking for is easy to find based on the experiences and opinions here. Try to explore here and the answer to your questions will follow. The opinions here are almost the same and is aiming to  help you prevent losses while you perform trading.

I suggest that go deeper from this website, don't rely on what is obvious but the basics of trading will really help you to become a professional trader.

If there are option that you can buy much cheaper in other exchange even i dont register there i will grab that . That was a potential earnings but before doing that you should review the exchange you want to try and check if theres negative feed back given on that exchange.

For trade, when i do trading like usual i will keep into current exchange. Because if must move between exchanges need more fees and it means i must look more profit to cover it. And i think every exchange especially bitcoin market will have a little spread in price. If there are a lot of spread, arbitrage trader must already stand by in that market.

Just like what others said, there ain't much difference when it comes to rates across various exchanges. Instead of deciding depending on that, find an exchange where you feel comfortable with and where you could easily access or insert funds easily from your country, be it a local exchange or not.
As for this "bond" you talk about, well, as long as the exchange is reputable, has no bad records in the past, user friendly and has nice customer support, go for it. If i take this right, emotional attachment has no place in choosing an exchange.

Of not, there are a lot of exchanges out there, so I don't understand why you're stuck win just one. And to add to that, just a precautionary measure, don't put everything in an exchange though, better have your money in a wallet that you control over with.

It's also good to experiment and experience other exchanges though, regardless of the exchange rate, just saying.

Holding funds on wallet: When you are this kind of trader you will look for the best price when selling your cryptos not sticking with any particular exchange but you can't got with a random trading platform so it should be combination of reputation of exchange and its price. This kind of traders will be basically long term traders.

Holding funds on exchanges: Means you are trusting that exchange more and doing trades more often in this case you may not switch exchanges for few bucks which actually cost more expense that your profits from it.

well my choice is trust and how long they are in business.

 but in todays time, not every exchange is not fully secure  ... even big exchange are also not fully secure to keep funds for long run,after cryptopia hack i don't trust any exchange or keeping funds for long run.lost good amount of alts in cryptopia hack and learned my lessons in hard way.

not if the potential for artbitrage remains below 5% (btc), I prefer to trade it again in the same market, but this is not the case with certain altcoins because the volume of each coin in the exchange market can produce quite a large price difference. In artbitrage many conditions must be understood, there are markets that have higher withdrawal fees such as livecoin and hotbit.

In terms of trading, there's a lot of suggestion styles and techniques came from different person base on their experiences. Trading is all about an exchange of a thing for another thing, but in crypto, this in exchange for coins to different coins that are profitable. In trading there's a lot of tips and techniques one those is knowing what trading, because you cannot enjoy learning something if you don't know what to do, next, is having you must know how to read the graph commonly it gives you a clue when this is the right time to invest. Last is trust to your self even what happens because every failure there's a lesson that you can use in the future.

If you are trying to make money from the spread between trades I think you will be disappointed, the money earned from the spread is very small and not worth your effort.
In fact, there are many exchanges that have very high price differences, but the number of transactions is very small and the fees are too high. I think it's best to use reputable trading and have a low withdrawal fee.

Most of us will do that, we need far rate for buy and sell but low in withdraw transactions. That's the work and take time to decide because rate change every minutes/ hours without announcement. Some people with huge fund take the simple, never see rate but analyze market direction. Their profit will close rate/ fee but for this strategy need more than money because patient also needed.

I am bond with my current exchanges not just because I have an account there but because I have chosen the trusted and established exchanges where I am trading my coins. If you are looking for the best rates, the exchanges I have decided to trade in were included. Focus on your trading strategies, best platforms of a particular exchange is easy to find but the trading success rates depends on you.

IF you're looking for pro advices, twitter is the place for you. Pro traders and crypto influencers are sharing their though through their tweets and you could follow many crypto traders that you think is a pro. Also you could follow the official coin accounts to get up to date with their news

I don’t because the rates are almost the same and I’m just using the exchanges that is really trusted in this market so I don’t make any effort to look for the rate individually. The rate of bitcoin will always change, so make sure that you have enough time to analyze so you wont miss the chance buying a cheap one.

While I like to get good rates for trading and buying and selling coins just like anyone else on this planet that's trading Bitcoin, I mostly stick to a few exchanges that I have accounts at as a lot of exchanges that show exchanges that are greater than normal or too good to be true are often not legit or there's some strings attached that makes it hard to withdraw or perhaps something fee-related. I've tried arbitraging in the past, but it's something mostly dominated by bots now and I found it to not be worth my time.

Instead of getting good results by looking for the best rates, it might destroy your whole funds in the process.

It's not that arbitrage isn't a good method after all but for that to be effective, it needs lots of things to consider. It's not advisable for beginners.

Before we go technical here, what's your goal? We might have a good suggestion instead of playing around with the arbitrage method.

As others have said, arbitraging is really not advisable considering the fees (trading, withdrawal) involved. If you account those fees, you will come up with very minimal profit if not zero. Unless, you find an altcoin other than bitcoin to trade. Because there are some good finds that the price difference are quite big. But you have to be careful as the trading or withdrawal might take too long because for one, there maybe few traders on that market, so you have to wait for considerable of time to sell your coin and once you got it, withdrawal from that exchange is not instant. So it depends on your priorities. But on my end, I don't think it is advisable to waste your time on this if you don't have enough resources.

If you do mean on buy/sell btc then i do only hang up with a single exchange rather than on multiple ones yet as mentioned earlier if you do pertain with arbitrage then it isnt really worth the time yet

prices on exchange doesnt really differ that much when it comes to gaps/spread between prices.So its not really worth to try or think of. When it comes to best rates then you should not
stress out yourself to this one.

Most of the exchanges except few reputable exchanges have fake volumes, it means if you decide to open an account in an exchange which has a lower price comparing to the others there's a good chance that you can't buy or sell at the price that you're seeing on cmc or the exchange itself, because it's just bot trading from the exchange itself to show good liquidity which isn't there, so if you try to buy or sell at the price that is being traded at that moment in an exchange your order wouldn't get filled because exchange bots only buy from/ sell to themselves and ignore other orders...

You can check whether an exchange has a fake volume yourself, you just take a look at buy and sell orderbook and have an eye one trade history which shows recent trade of that pair, if an order went through at a price and shown on the recent trades but at that moment wasn't on the buy or sell orderbooks it means they have fake volume, in these exchanges you can only buy from the sell orderbook or sell to buy orderbook, buy and sell orderbook prices on these kind of exchanges are usually way more different(worse) than the price that you're seeing being traded by bots and shown with shiny color, also there are issues with some exchanges like withdrawal problems when you want to withdraw and they ask for kyc or freeze your funds for all kind of reasons ...

So based on my own experience I wouldn't suggest anyone to just look for a better price in an exchange specially when it comes to crypto whether it's for purpose of arbitraging or simply just buying cheaper or selling higher.

Arbitraging (trying to profit from the best rates) isn't worth my time. The spreads between exchanges are too small to profit much from.

When there are massive price discrepancies that actually look attractive to arbitrage, it's usually because of insolvency or customer inability to withdraw funds. For example, when Wex.nz disabled BTC withdrawals, the price of BTC started trading extremely low compared to the spot price. Misguided arbitragers deposited USDT to buy up the "low-priced" BTC only to find out the "BTC" was worthless because it couldn't be withdrawn.

So I mainly stick with my chosen exchanges, which for now are Coinbase Pro, Kucoin, and Bitmex.

The price difference between exchanges shouldn't impact your trading results significantly enough to consider moving your money around to buy from another exchange unless you are an arbitrage trader who keeps a quantity of dollars on many exchanges and trying to profit from that.

If I were you I'd chose an exchange with the best combination between trust/reliability and fees.

Are you guys looking for the best rates in the market when deciding to buy/sell Bitcoin or you're bond with the certain exchanges where you have an account?