Topic: Trading Cryptocurrencies - page 3. (Read 415 times)
I'm an upcoming trader and I use Bittrex exchange. I prefer long term trading and for that I use fundamental analysis. Here I listen to news and events about coins on the exchange. I make my trade based on this and it never fails me.
The one thing that has scored me some winning trades is Price Action trading.
Example was LTC/BTC that was at 0.006 during December which was the lower end of the price range, I bought LTC on that dip thinking it would go easily to 0.01 (good 40% return) only to awake to it going ot 0.021 - a cool 300% return
)
It would be awesome to spot more opportunities like this...
Example was LTC/BTC that was at 0.006 during December which was the lower end of the price range, I bought LTC on that dip thinking it would go easily to 0.01 (good 40% return) only to awake to it going ot 0.021 - a cool 300% return
)It would be awesome to spot more opportunities like this...
What do you base your decisions on when you enter a trade in the crypto-sphere?
The risk definitely is the first deal. I make sure that I can take the risk if ever I lose in my trade but if not then that's an achievement and it boost my confidence as a trader. Before I listen to those news that are literally giving the market a bad sign to collapse or put into a correction but now I don't. I'm not that good in trading so getting those helpful advice from other traders which I think will be beneficial to my trading habit is being absorbed, we are all old and we know what are the good advice and not because other advice now are just shilling their coins.Absolutely, never ever enter a trade with funds you cannot afford to lose!!
The reason why I was asking is because BTC and ETH most notably does not seem to respond on technical levels they way FX or commodities do... and I am sensing some foul play - like miners pushing up prices and then dumping when they reach their targets.
I always check the project behind the coin/token I am trading and their news channels. The team is also important and where they are on their roadmap. The thing that is most important to me, is if they do stick to their timeline and deliver updates on time. Then if my analysis has positive results, I consider trading their cryptocurrency/token.
How do you know that the team of people are who they claim they are? We have seen many projects/ico's with pretty pictures of team members only to learn later on that it was a fake representation! I think its good here if you can reach those team members and interact with them via Telegram/ Twitter/ Linkedin.
I fully agree with the view that updates are delivered according to a roadmap of the project - the delivery of the service or app are usually the most significant sign of trust for me
I will also add that even with late updates - its okay but it will make a person more cautious about trading with them in the future. What do you base your decisions on when you enter a trade in the crypto-sphere?
The risk definitely is the first deal. I make sure that I can take the risk if ever I lose in my trade but if not then that's an achievement and it boost my confidence as a trader. Before I listen to those news that are literally giving the market a bad sign to collapse or put into a correction but now I don't. I'm not that good in trading so getting those helpful advice from other traders which I think will be beneficial to my trading habit is being absorbed, we are all old and we know what are the good advice and not because other advice now are just shilling their coins.
I always check the project behind the coin/token I am trading and their news channels. The team is also important and where they are on their roadmap. The thing that is most important to me, is if they do stick to their timeline and deliver updates on time. Then if my analysis has positive results, I consider trading their cryptocurrency/token.
Hi guys, the topic of discussion is aimed at gathering input from other traders about how they make their choices in the Crypto Market, and hopefully hereby we can get a more holistic view of the current Crypto-Traders Psychology.
What do you base your decisions on when you enter a trade in the crypto-sphere?
What do you base your decisions on when you enter a trade in the crypto-sphere?
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