Topic: Questions for traders - page 2. (Read 1144 times)

1) Which cryptocurrencies do you trade?
i am trading NSR, ETH, ETC, BTM, DOGE and many more, i only trade if i can see there is a chance i can make profit

2) Which exchanges do you usually work on?
usually i am trading in poloniex, yobit, and bittrex but sometimes i take a look in bleutrade and bter.

3) Which strategies do you use in your trades? Does it involve Arbitrage trading? What's the most difficult part of it?
my strategies is simple, i bought when i see there is a sign to get up in price and i sell when the price i think its already up enough and i can take a profit. i don't use arbitrage trading because its too risky for me. the most difficult part is when we buy one coins in for example 10 satoshi but after that the price is down until 7 satoshi, its hard to decide to hold or to make cut loss because we don't know the price is still down or want to increase.

Poloniex culd be a good platform for you to start. I see mayn other users suggest it also. I don't have any special tecnique, iz's just matter of experience and knowledege you get with time. Arbitrage trading could be very profitable but you have to fully enageged in it and at the moment this is not very profitable because differences are not so big. Just go slow, one step at the time to get as much exeperience that you can and the results will come.

Well, personally i like to margin trade Ethereum. It is quite volatile and has pretty good liquidity so I guess that is always a good combination. I never baghold any coins i trade because in my opinion in the long run bitcoin is going to outperform any altcoin.

Usually i use poloniex and bittrex, they are the two main exchanges I use.

I just use common sense. I'm not an expert, I treat trading as semi-entertainment.

1) Mainly bitcoin and some of the alts (PSB, NEM, ETH, Monero and other coins on ICO)

2) Formerly on Bitfinex but since lots of problems lately I transfer to Kraken. I preferred also Poloniex in terms of altcoin trades.

3) Focus and putting some time to monitor the price. Other alts have high rate of price volatility and prone to manipulation that's why we need to focus on latest trend to avoid being late.

Strategies vary per user. If you found yourself succesful in a strategy of yours just continue doing that.

bitcoin is the fixed one and all the rest are changing based on which coins are worth buying at that particular time.


bittrex


most I am looking for potential in altcoins to buy before the rise and sell on top, I tried some analysis but they usually don't work on altcoins.
and about arbitrage it is much harder and less profitable so I am not a fan of it.

In terms of trading problems, I can't pointed it out since there are lots but actualyl I don't treated it as a problem since it's part of trading activity.

1) Bitcoin and other alts

2) Bitstamp = Bitcoin / Polonies, Crytopia, CCEX = other alts since my preferred coins are not present on the said site.

3) Common Strategies. The point is, you have to monitor the price closely "especially" in other alts since price volatility there is most active compare to bitcoin today.

Bitcoin was general crypto. ICN, ETH, RIPPLE.
Minor to the Major exchange(Yobit, Bittrex, Kraken, Poloniex)
No, just use the standard technique, I think average price in the market for each coin wasn't having a large of gap.

Hi everyone,

I'm getting to know better the market for cryptocurrency trading. In special, I'm really interested in understanding which are the biggest challenges/problems you face when trading. My intention is to study and analyze deeply these problems and evaluate potential solutions that will be valuable for traders, so it would be really great if I could get some feedback from you. So, basically, I have some few main questions but, please, feel free to provide any feedback you may want to.

1) Which cryptocurrencies do you trade?
2) Which exchanges do you usually work on?
3) Which strategies do you use in your trades? Does it involve Arbitrage trading? What's the most difficult part of it?


Thank you!
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UPDATE:

I have been receiving great feedback! Thank you so much for this. Yes, I understand that everyone has a own strategy when it comes to trading, so I was really trying to understand better the difficulties you encounter. I think I'm starting to get some initial relevant ones.

Many of you said that watching prices closely, putting effort tracking many altcoins you hold and even acting fast enough can be tough. I have some additional questions:

1) Do you use some kind of bot or any similar tool to help with you decisions? If you do, do you think that this tool/bot that you're using could be improved somehow to help you even more?
2) If you don't use such tools, why would that be ?

Also, some of you mentioned that is challenge deciding when to buy/hold/sell your coins, specially when pumping and bumping are involved. I understand that prices are unpredictable, but even though, you probably use some kind of analysis or any source of information to help with you decisions. Some few questions:

1) If you're willing to reveal them, which sources do you trust when making your analysis?
2) How effectively do they help you today?
3) Which are the most difficult/time consuming/tricky tasks when you're actually collecting the info/making your analysis?

I'd like to thank you again for taking some time to put your feedback here.