You should know how to read graph just like candlestick, and proper use of timing when buying or selling in the exchange. And invest in different
potential altcoins in the market like what other said here don't put your eggs in one basket. Good luck
Topic: Tips in Trading (Read 514 times)
My tips or advise to you as a trader you must be patience, have self-control and self-discipline too, must be a risk taker too.
You should know how to read graph just like candlestick, and proper use of timing when buying or selling in the exchange. And invest in different
potential altcoins in the market like what other said here don't put your eggs in one basket. Good luck
You should know how to read graph just like candlestick, and proper use of timing when buying or selling in the exchange. And invest in different
potential altcoins in the market like what other said here don't put your eggs in one basket. Good luck
you should learn mark price and strategies on volatile token trading. after all tokens are volatile thats why you need to scrutinize everything. as in everything. theres no place for novice in crypto world.
Scrutinizing is one thing, but investing and putting your money is different. Even if you DYOR, you can really see where the price will go. That's why it is advisable that before you trade, you should have at least a trading strategy, i.e. stop/loss, entry/exit plan. Otherwise you are totally gambling in this market.
The OP has provided a good beginner's advise on traders, it is really difficult to get past the stage wherein you at least learn from your past mistakes. That's why as beginners, you need how to learn to mitigate risk so that you won't get burned and REKT early in this market.
Will be a lot of work for a long list of portfolio.
I dont think I could do this kind of management.
For those who have short list this will an easy work. But it also needs some monitoring to happen.
The market doesnt go just the way we want it too. For a lot of times it goes south.
Orders could rot and I dont think we have that much patience to wait for a long time. There is still something good in doing it manually for even a short time.
That advice and method is really for traders and not for investors, because investors are the ones that usually keep long list of coins in their portfolio with the hope that at least certain percentage of them would increase to an optimal level for them to make enough profit from overtime.I dont think I could do this kind of management.
For those who have short list this will an easy work. But it also needs some monitoring to happen.
The market doesnt go just the way we want it too. For a lot of times it goes south.
Orders could rot and I dont think we have that much patience to wait for a long time. There is still something good in doing it manually for even a short time.
For what op is suggesting, it is only feasible for traders that trades just few coins, because such method requires dedication of time since you have to continuously monitor the price of those coins constantly, prices could change at any time, and before you realize it, you could have missed the opportunity if you are to trade with too many coins. It is a nice idea though and I think I would out it into practice on my bitcoin trading account and see how effective it could be.
Will be a lot of work for a long list of portfolio.
I dont think I could do this kind of management.
For those who have short list this will an easy work. But it also needs some monitoring to happen.
The market doesnt go just the way we want it too. For a lot of times it goes south.
Orders could rot and I dont think we have that much patience to wait for a long time. There is still something good in doing it manually for even a short time.
I dont think I could do this kind of management.
For those who have short list this will an easy work. But it also needs some monitoring to happen.
The market doesnt go just the way we want it too. For a lot of times it goes south.
Orders could rot and I dont think we have that much patience to wait for a long time. There is still something good in doing it manually for even a short time.
you should learn mark price and strategies on volatile token trading. after all tokens are volatile thats why you need to scrutinize everything. as in everything. theres no place for novice in crypto world.
I would add on few points:
- Analysis before investing
- ever bet must have stop loss
- exclude emotions
Yeah, I think that these are really important points. And if you let I would also add some words about crypto bots. I think that everyone should try using them in practice. If you'll learn how to use them wisely, you can make your trading easier. And I believe in it. Lately, I've decided to check info bot from CEX (https://t.me/CexIoInfoBot), and quite amazed by its work. By the way, have you heard about such a bot? And what you think about trading and using bots at the same time?
Each and everyone had on Strategies and I will do different kinds of things in different times because it is not a stable market and following the same to strategy is not usable in all the time that's why keeping your strategies not stable it is important to serve and get the profit every time.
Right market is so unpredictable, we don’t know, what will happen next, it is not good to keep in mind that you will have to sell next months because we know If today market is down so it can rise anytime, in trading the most important is not to take any decision at once, you will have to wait and hold when the price is down so latter on you can trade when the market will be high once again.
I am a forex trader first but in recent times, I have started up with Crypto trading, and the only suggestion/tip I can give is that we should work with proper plans and stick to that instead of changing and chopping.
While if there is anything in terms of ways then I say you can use Trading Tools, which are popular as this can help in making things somewhat easier. But aside this, I totally feel and believe that we shouldn’t do anything fancy.
While if there is anything in terms of ways then I say you can use Trading Tools, which are popular as this can help in making things somewhat easier. But aside this, I totally feel and believe that we shouldn’t do anything fancy.
Something I know works for many , is buy low and sell high but unfortunately this strategy isn't just working because some coins just die without passing initial price and we missing the volatility....I guess on the bright side volatility works in favor of the trader if you think of it.
That's almost a liquidity issue if the coin is dying.
Something I know works for many , is buy low and sell high but unfortunately this strategy isn't just working because some coins just die without passing initial price and we missing the volatility....I guess on the bright side volatility works in favor of the trader if you think of it.
Question: How to sell with maximum profits in high targets when the signal reaches first target?
Possible Things To do:
1. Sell 50 percent of your amount
2. If possible, devide your funds so that you can enter two or more signal.
3. Buy only on your buy zone just open order and leave it to be filled.
thank you for your valuable topic and it will be helpful for everyone to learn something new and make it possible to develop their trading experience and the experience only make you to get the successful person in any type of field and if you got this you will be the most important and valuable trader in this field. Possible Things To do:
1. Sell 50 percent of your amount
- If the price crashed after the first target the stoploss will be executed with the profit of first target for the rest of 50 percent of amount.
- If the price didn't crashed and reach second target, sell 20 percent of the amount then set stoploss for the rest of 30'percent of the amount a bit little below the second target.
- If the the price crashed after the second target the stoploss order will be executed with thr profit of second target.
- Make this steps for the rest of amount in the third and fourth target.
2. If possible, devide your funds so that you can enter two or more signal.
3. Buy only on your buy zone just open order and leave it to be filled.
Each and everyone had on Strategies and I will do different kinds of things in different times because it is not a stable market and following the same to strategy is not usable in all the time that's why keeping your strategies not stable it is important to serve and get the profit every time.
I haven't tried this kind of strategy but I don't think selling 50% would be better. However, I don't want to complicate things. Though I'm managing my funds and my profit well, I don't want to set a specific strategy which I can't follow due to the market's volatility. I guess the basic strategy which is to buy low and sell high would still work better.
Buy low and sell high, have a high risk what will you do if the support level got break? Would you just keep buying every time the market making a new dip ? Lets give some example :Bitcoin from $20.000 to $15.000 Buy
Bitcoin from $15.000 to $10.000 Buy
Bitcoin from $10.000 to $7.500 Buy
Bitcoin from $7.500 to $5.000 Buy
And reach the bottom at $3300, save your money investment its the priority then you can thinking about the profit, selling the crypto 50% i think its a good method, because using a Money Management. Then you can keep the other asset for chasing the profit.
I will share now some tips that I prefer as a trader. 1st of all you must have the knowledge on how trading works and what is trading do, 2nd you must have a capital to start on trading so that you can invest or those capital it doesnt matter if it is large or small but it is good if you have a high capital in the first place so that you can gain a profit that is higher too.
One of the most important is the knowledge. I will add some more on your comment, if you really want to start trading you must have a knowledge in which you can gain by researching or studying in some internet sites but one of the best way to do is to ask in this forum and ask those who are experts in trading so that you will know what is their experiences in trading.
I will share now some tips that I prefer as a trader. 1st of all you must have the knowledge on how trading works and what is trading do, 2nd you must have a capital to start on trading so that you can invest or those capital it doesnt matter if it is large or small but it is good if you have a high capital in the first place so that you can gain a profit that is higher too.
I haven't tried this kind of strategy but I don't think selling 50% would be better. However, I don't want to complicate things. Though I'm managing my funds and my profit well, I don't want to set a specific strategy which I can't follow due to the market's volatility. I guess the basic strategy which is to buy low and sell high would still work better.
If you do Scalping, it does not make any sense to sell 50%. If it arrived at your target price or the spreads went down, sale. Sell everything.
Don't ever trade without a risk management strategy, first of all. You won't ever get anywhere in trading without a proper way of managing risks, especially if you're making several trades a day. Even if you've got good accuracy with predictions, a few losses in a row can easily wipe you out if you don't have good risk management.
Don't ever FOMO into a trade or let emotions get any part of your trades. Emotions are what cause 90% of losses in trading from what I've experienced and seen with other peoples' trading. Also, remember you do not always have to be making a trade. Sometimes the best thing to do is just to not trade at all; there's always a better entry you can make in the future. If you're having repeated problems with emotional trading, lower the total amount you're actively trading.
Don't ever FOMO into a trade or let emotions get any part of your trades. Emotions are what cause 90% of losses in trading from what I've experienced and seen with other peoples' trading. Also, remember you do not always have to be making a trade. Sometimes the best thing to do is just to not trade at all; there's always a better entry you can make in the future. If you're having repeated problems with emotional trading, lower the total amount you're actively trading.
This is basically a hedging strategy where you do protect your profits and making adjustments with stoploss once you reached out or nearly hit up that take profit area.
20-30% stoploss is considerable compared to forex markets which is usually on 2-5% but its understandable that crypto do need wide area due to volatility intensity.
I would say this is effective if you do know on what you are doing but im really very very sure, this would be applicable for those traders who do know to use up technicals
with good analyzing and computing skills and very sharp eyes.
20-30% stoploss is considerable compared to forex markets which is usually on 2-5% but its understandable that crypto do need wide area due to volatility intensity.
I would say this is effective if you do know on what you are doing but im really very very sure, this would be applicable for those traders who do know to use up technicals
with good analyzing and computing skills and very sharp eyes.
I would add on few points:
Some of the suggestions that you give are simpler and easier to understand even though in reality it is very difficult to do that step. But at least that is what traders must understand and do to be able to benefit from trading and minimize losses. - Analysis before investing
- ever bet must have stop loss
- exclude emotions
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