Trade strategy / top three pointers for newbire!!

BitHodler

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Quote from: Reid on August 30, 2019, 04:22:36 PM

Wait, dont tell me it is going to be USDT?
Well then, I would rather pick Ethereum than it. Sure it aint that stable but it will be easy to come back since the price is getting cheaper.

There is USDC in case the trust in USDT isn't there, which is perfectly understandable. Ethereum isn't a good option with how volatile it is, and just because it has gone down a lot doesn't mean it's suddenly a good option.

If we look at the most stable top tier altcoin, then it definitely is XRP, but still, it can't compete with the characteristics stablecoins offer. People may not like their centralized nature, but they're doing their job exceptionally well.

There is a decentralized stablecoin called Dai, which operates on Ethereum, but there is little adoption and therefore not a good option if you want to take advantage of arbitrage opportunities across multiple platforms.

Reid

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Quote from: Nichols3018 on August 25, 2019, 05:39:58 PM

Here goes nothing.. 1: obviously if bitcoin is rising or falling most likely your investment is doing the same.. 2:find a stable option to place your money in. 3:not only observe day/week/monthly gained and losses, check the hourly status as well

Any samples of a stable option.

Wait, dont tell me it is going to be USDT?
Well then, I would rather pick Ethereum than it. Sure it aint that stable but it will be easy to come back since the price is getting cheaper.
If not, then I just get out. Go invest with gold. Stability right. I guess that is the most stable of all.

barbara44

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Quote from: vian30 on August 28, 2019, 10:38:03 PM

I think one of the options that possible beginners can do. The only "stable option" in the Crypto space is probably stable. However it is not a good idea to convert your Cryptocurrency or token to stablecoin and leave it in a centralized exchange. Convert and send to the address that you fully control.
I just thought and I'm also a beginner it would be nice if you try that option because trying it doesn't hurt ...

That option is good, but depends on how often you trade, you have to consider the cost of having to send your money across exchanges because of the fees that they charge, even binance that has the lowest fee will cost you a lot if you do that like 5 times in a day, and this is one of the reason why many keep their trade balance into stable coin because of fees and because of the volatility of the market.

Stable coin is meant to keep the status of your coin in value active while if you keep your trade money into the wallet back could make volatility affect it when the price declines, just like bitcoin price decline now, it would never affect the ones that has been transferred to stable coin because the dollar equivalent will still be retain an I think that is why stable coins are very important to us.

carter34

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Quote from: slaman29 on August 29, 2019, 02:08:16 AM

If I started as a newbie with a good solid list of pointers and I still failed in my early days, I wonder what the result will be for someone who used these sets of practically useless top 3 pointers haha.

I pity the newbie who takes the advice to check hourly status of gains and losses.

The pointers and other strategy you see on the forum is not a guarantee not to fail in adopted, they are not financial advise in all. I believe they are guiding ropes.
Failure in business is not to make one keep being on the ground, rather to make you get up and learn from the mistakes and get you re-strategize to face the business challenges ahead. Failing isn't bad because it should show you the way to success.

nydiacaskey01

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Quote from: Nichols3018 on August 25, 2019, 05:39:58 PM

1: obviously if bitcoin is rising or falling most likely your investment is doing the same.

That is why you need to closely monitor your investments. It will not hurt if you download blockfolio to monitor your portfolio or crypto assets.

Quote from: Nichols3018 on August 25, 2019, 05:39:58 PM

2:find a stable option to place your money in.

You should know by now that price of Crypto assets are not stable. You can earn 10% today and lose 20% tomorrow. That is why you need to plan your entry and exit. Dont just Buy and Hold.

Quote from: Nichols3018 on August 25, 2019, 05:39:58 PM

3:not only observe day/week/monthly gained and losses, check the hourly status as well

It depends on your plan and what kind of trader are you, if you are a day trader then yes you need to monitor hourly or from time to time but if you plan to buy and hold for a long time, then there's no need to monitor hourly.

slaman29

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If I started as a newbie with a good solid list of pointers and I still failed in my early days, I wonder what the result will be for someone who used these sets of practically useless top 3 pointers haha.

I pity the newbie who takes the advice to check hourly status of gains and losses.

cosmofly

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Besides, the newbie needs to spend a lot of time paying attention to the signals. The signals of the whales are very important in today's trading.
You know, when the whales transfer BTC to exchanges, that's the signal to run. and there are countless other signals that the chart will change direction.
Trading on signals also really brings wealth.

vian30

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I think one of the options that possible beginners can do. The only "stable option" in the Crypto space is probably stable. However it is not a good idea to convert your Cryptocurrency or token to stablecoin and leave it in a centralized exchange. Convert and send to the address that you fully control.
I just thought and I'm also a beginner it would be nice if you try that option because trying it doesn't hurt ...

Ucy

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I agree with this, especially as it concerns newbies. The only "stable option" in Crypto space is probably stablecoin. It is however not a good idea to convert your Cryptocurrency or token to stablecoin and leave it on centralized exchange. Convert and send to address you have full control of.
Example: You could convert parts of your Bitcoin to ether then buy the ether price equivalent in stablecoin, like DAI and move the stablecoin to an address you control the private keys.

arpon11

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Quote from: Nichols3018 on August 25, 2019, 05:39:58 PM

Here goes nothing.. 1: obviously if bitcoin is rising or falling most likely your investment is doing the same.. 2:find a stable option to place your money in. 3:not only observe day/week/monthly gained and losses, check the hourly status as well

Investment and trading is two different things and sometimes we referring to the two as the same. If you are buying bitcoin and sell another currency simultaneously but when we are talking of investment we are referring to buying and holding coins for the long term.

Ridwan Fauzi

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Quote from: Nichols3018 on August 25, 2019, 05:39:58 PM

Here goes nothing.. 1: obviously if bitcoin is rising or falling most likely your investment is doing the same.. 2:find a stable option to place your money in. 3:not only observe day/week/monthly gained and losses, check the hourly status as well

An experience, you may be forget to create the experience thing on trading. I believe if there is someone who have a high level strategy but he didn't have an experience or even the history of his trading just he forgot then it will be useless.

The strategy will adapt in our style, I mean yoh have to find the strategy that will make you comfortable when you use it. Don't be another person, I mean don't just imitated another person strategy it couldn't be suitble for your style. I believe there is someone who don't like being day trader but he only have an interest to trade weekly.

silversurfer1958

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Along with those rules, newbies need to have good knowledge of trading. These are the must-haves for successful trading.
Especially for the crypto market, it is very volatile. Just a few distracted moments, you can lose 10% of your account.

Yamifoud

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Quote from: Nichols3018 on August 25, 2019, 05:39:58 PM

Here goes nothing.. 1: obviously if bitcoin is rising or falling most likely your investment is doing the same.. 2:find a stable option to place your money in. 3:not only observe day/week/monthly gained and losses, check the hourly status as well

When you starts to observe the prices too often means the high chances of getting panic from that you may try to exit from the market if there is a sharp dump on the prices so try to keep the price checking habit as long as possible.

Not actually, it only happens when you never control your emotions. I'll keep my coins in track all the times, we can only do that if we regularly check it.
How it affects? It keeps us aware of the market flows, not necessarily we get to troubles because of the dumps that we might see, it is our chance to take actions before we're getting late and losing our funds.

leowonderful

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Bitcoin FTW!

• Stop trading if you're on some sort of a losing streak or if you don't see any good opportunities to enter a trade. It's tempting to always have a trade open, but realistically the best option is often just to sit out instead of overtrading and losing money instead of earning it.
• Don't rely too much on any one indicator or on indicators as a whole. They're not always right, and indicators should generally be used just as a guideline to make a trade and not the only thing you use.
• Make at least a basic risk management plan. You're almost definitely going to do better with one, and if your exchange supports it, set stop losses when possible (use TA to determine stop locations) so you can cap losses. If you constantly get stopped out on trades that reverse the other way soon after you get stopped out, reevaluate where your stops are and move them away from obvious spots.

carter34

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A newbie should try and stop struggling with the type of trader he or she is. For information purpose, there are majorly two types of trader, day trader and swing trader. A swing trader is the person that hodls for long and of course relies on longtime frame to analyze the market while the reverse is the case for day trader. Hence, defining your trade type will help you know how long you are to stay in the market.

MonsterV

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I made a list activities in analysis, which I divide into several successive sections. For example: Seeing today's news, market conditions, technical analysis, etc. From my list these arrangements, I concluded impact that would occur, only then would I confirm it with another analysis.

Well actually many strategies that I use, but strategy above is my mainstay strategy because I can not analyze without having to sort activities that I do. Certainly no matter how we make strategy, there is no strategy that is 100% profitable.

Quote from: BITDV on August 25, 2019, 10:12:43 PM

In cryptocurrency didn't give too much time in candle analysis.

In forex, i choose weekly trade or minimum TF is 4H to analysis. 4H give me more better setup and take daily or even weekly trade.

Actually TF 4H is still sufficient in scalping, as long as our analysis can be correct. I myself play in 2 markets is forex market and crypto forex market I play daily and my crypto play a long time.

Herbert2020

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Quote from: Nichols3018 on August 25, 2019, 05:39:58 PM

1: obviously if bitcoin is rising or falling most likely your investment is doing the same..

if your investment is bitcoin, that is an obvious statement!
if your investment has altcoins in it then your statement is false. when bitcoin rises or falls, the altcoins dump.

Quote

2:find a stable option to place your money in.

note that if the stable option is fiat, you are doing OK. but if the stable option were another altcoin including the stablecoins then you are taking additional risks. specially if you store them on exchanges you would be taking another additional risk.

Quote

3:not only observe day/week/monthly gained and losses, check the hourly status as well

that completely depends on the trading strategy...

michellee

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Yes, that is what the new people should do if they want to make a profit from trading. The most important to learn trading is trying to buy low, and sell high so we can get more experience in trading and we could also practice the lesson. We have many stable coins which are getting impact when bitcoin or altcoin is going to down and although that coin is down, the down will not be too deep and sometimes, the price can be back to the price before in shortly.

Always check the time frame at the market so we know the difference of the volume and that will help us to analyze what is going on on that day. That will also help us to decide the next things that we need to do.

BITDV

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My trading strategy for forex and for trading cryptocurrency bit difffrent. In cryptocurrency, i made a news list in microsoft excel. To make this list, i look news from many reputable website and also reputable person. For example, there's hot news last week about satoshi reveal, i put that news in my spreadsheet and update news status in my spreadsheet if that news gave so much effect. In cryptocurrency didn't give too much time in candle analysis.

In forex, i choose weekly trade or minimum TF is 4H to analysis. 4H give me more better setup and take daily or even weekly trade.

glendall

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some that I will do,
first I will start playing on which TF, and this I choose based on how many hours I can in front of a PC,
after that divide the funds that I have into three parts, trading funds, safe funds and urgent funds,
after that I look for a good chart movement and trade there.
those are some things and strategies that I often do before starting my main trading.

Topic: Trade strategy / top three pointers for newbire!! (Read 331 times)