Topic: Noob question - page 2. (Read 807 times)
yes you can start investing in trading altcoin ,which fractuate whole day. There are two famous site coinbase and poloniex for the coin trading. But that is not so easy as you were talking about. some big investor are in the market some time they manipulate the coin value of their own.
Of course you will have to hold it for the time being. Since the price is fluctuating, it can easily be 12$ the next day.
Now, let say the price goes down to 9$, so you can't sell it because you are going to lose, so what you gonna do is to hodl on your investment and wait for it to increase to 11$ to take profit.
You are assuming that it will go back up, but what do you do if it goes down further to $8 instead?
Value of cryptocurrencies go up and down every few hours, so if price today is 10$ and tomorrow 11$ can I just buy today and instantly sell tomorrow for 11$? That seems way too simple... Could you link me to or explain here how dose all this work?
Yes. That is the basic paradigm of trading. You buy low and sell high and so get instant profit. So if you are talking about hundreds or even thousands of dollars its a already a huge profit. That's why traders love how bitcoin price is volatile because you can take advantage of it.
Now, let say the price goes down to 9$, so you can't sell it because you are going to lose, so what you gonna do is to hodl on your investment and wait for it to increase to 11$ to take profit. Goodluck to you if you going to be a trader.
Value of cryptocurrencies go up and down every few hours, so if price today is 10$ and tomorrow 11$ can I just buy today and instantly sell tomorrow for 11$? That seems way too simple... Could you link me to or explain here how dose all this work?
What are you going to do if it goes to $9 tomorrow instead?
Of course you will have to hold it for the time being. Since the price is fluctuating, it can easily be 12$ the next day. All he is asking is if it is viable and it is. He can sell his bitcoin anytime he have profit however small it is. And he can buy again when the price falls. The hard thing is timing it. The price may not go down after he sells his bitcoin or may not go up after he bought.
Value of cryptocurrencies go up and down every few hours, so if price today is 10$ and tomorrow 11$ can I just buy today and instantly sell tomorrow for 11$? That seems way too simple... Could you link me to or explain here how dose all this work?
What are you going to do if it goes to $9 tomorrow instead?
Yes, and there is a technical Bitcoin term for it, hodling.
Easier to say than to practice, specially if you are a noob. Might take a long time until price rises again and you may panic sell or be too hasty and sell before the rise.
But until today the price always recovered and reached some new ATH, even if the bear market lasted few years.
Easier to say than to practice, specially if you are a noob. Might take a long time until price rises again and you may panic sell or be too hasty and sell before the rise.
But until today the price always recovered and reached some new ATH, even if the bear market lasted few years.
Well that's how trading anything works, right ?
Buy when low and sell when high.
But the thing is crypto currencies aren't stable at all. And that example is a rise of 10% ! Which is extremely difficult to achieve.
And you can buy today thinking that the price is low already and next day find it much lower !
That's way it's different than anything else (if you take stocks or gold into consideration as their price change range is somewhat small).
Buy when low and sell when high.
But the thing is crypto currencies aren't stable at all. And that example is a rise of 10% ! Which is extremely difficult to achieve.
And you can buy today thinking that the price is low already and next day find it much lower !
That's way it's different than anything else (if you take stocks or gold into consideration as their price change range is somewhat small).
Value of cryptocurrencies go up and down every few hours, so if price today is 10$ and tomorrow 11$ can I just buy today and instantly sell tomorrow for 11$? That seems way too simple... Could you link me to or explain here how dose all this work?
Hi Dragonknigh, you can try to get a demo account at a trading platform to learn more on how to trade crypto. I recommend eToro as you are able to get hold of a virtual account, which allows you to practise your trades and hone your skills before you start trading officially. Another useful feature is copy traders, where you can try to copy a few successful crypto traders to see what they are doing. Generally it's better to practice first before you start any real trades. And when you start, don't be greedy - start with a small capital first!
You can access eToro via http://partners.etoro.com/A65792_TClick.aspx. Good luck, and if you need more help, just holler!
Yes, thats trading, but coins dont always go up, they go down too.
Technically yes that is how you trade, it is as simple as buying them at a low price and selling them when the price is high. But there are still a lot of terms you can learn from when trading like short term which is what you are asking, you could also do long term wherein you sell the coin after a long period of time.
Value of cryptocurrencies go up and down every few hours, so if price today is 10$ and tomorrow 11$ can I just buy today and instantly sell tomorrow for 11$? That seems way too simple... Could you link me to or explain here how dose all this work?
Well, you will have to wait for it to go a little higher. Some of these exchanges charge trading fees on all trades and also
withdrawal and deposit fees. Once you reach the point where you "clear" the expenses to trade. {fees are covered} you
will make a profit buying low and selling high. I have made a few hundred dollars with single trades in hours with the
volatility of Bitcoin.
Yes that's the basic,but there is one thing you miss,if it just a little change,there are fees in any transaction,so if the coin only change just a few satoshi you could lose if you sell without counting the fees first
Yes you can do so. To do that, you have to register in a Bitcoin exchange site that allows to buy and sell.
However, keep in mind that most exchanges have trading minimums and fees for trading and withdrawing money. So you do not earn the whole difference between the buy and sell orders.
However, keep in mind that most exchanges have trading minimums and fees for trading and withdrawing money. So you do not earn the whole difference between the buy and sell orders.
The hard part is predicting the right fluctuation of bitcoin's price in order to gain profit. It is better to wait for the right time to trade your bitcoin in order not to lose money.
Bitcoin's price is always going up. But there are some period that it gets low, this results to people buying bitcoins in order to hoard it. Then the supply gets low and the demand increases resulting to the bitcoin's price going up.
Bitcoin's price is always going up. But there are some period that it gets low, this results to people buying bitcoins in order to hoard it. Then the supply gets low and the demand increases resulting to the bitcoin's price going up.
in theory yes. that is how you trade anything, you buy them when they are low and sell them when they are high. and that is exactly what you just described here. and you are right so far it sounds simple but the hard part is knowing what that "low" and "high" prices are to buy and sell respectively.
and from $10 to $11 may sound small but if you look closer that is a 10% profit and that doesn't really happen ever day easily!
visit the trading board here, you can find similar questions and if you use google you can find articles and videos for helping you get started with trading.
and from $10 to $11 may sound small but if you look closer that is a 10% profit and that doesn't really happen ever day easily!
visit the trading board here, you can find similar questions and if you use google you can find articles and videos for helping you get started with trading.
Value of cryptocurrencies go up and down every few hours, so if price today is 10$ and tomorrow 11$ can I just buy today and instantly sell tomorrow for 11$? That seems way too simple... Could you link me to or explain here how dose all this work?
Jump to: