What is your base currency if you trade in alt-coins? - page 3.

mmo_online_1981

sr. member

Activity: 798

Merit: 250

For me, at the moment only used BTC for all exchange! In near future, i think may be ETH coin

gomei

hero member

Activity: 770

Merit: 500

For me, ETH is the base currency for now. If I buy ICO tokens with 10 ETH, after that I will buy 10 ETH to keep I have the fixed amount of ETH.

decoder88

full member

Activity: 346

Merit: 103

Quote from: cryptomia on July 18, 2017, 06:26:38 AM

Everyone has their own strategy and style when it comes to trading players. You are in need of a base currency you are familiar with or it most based on your country of residence I think...

Yeah dude... You're right about that.. Like me, i have my own stategy and style on how am i going to transac or trade with other people. You just need to familiarize with it based on your country..

hase0278

hero member

Activity: 882

Merit: 544

Quote from: MikeyDotCom on July 14, 2017, 09:45:03 AM

Your base currency, is the currency you have, when all your positions are closed. This should be the U.S. dollar. Let me explain. If all positions are closed you expect the market to go down. If the market goes down, you can buy more bitcoins with the same amount of U.S. dollars, for the next position. So, if you’re trading any crypto currency part with BTC as the base currency (like XMR/BTC, ZEC/BTC etc.), you should close all your position when the BTC/USD is in a down trend, since any other coin that has BTC as the base currency will go down too. Let’s look at some examples.

(BTC/USDT daily charts)

(XRP/USDT daily charts)

(ETH/USDT daily charts)

If you study all pairs, you will find out the all BTC base currency pairs are moving in the same direction as the BTC/USD.
That’s why I only trade crypto currency pairs with the U.S. dollar as the base currency. Poloniex offers 11 pairs I can trade on: BTC/USD, ETH/USD, ETC/USD, LTC/USD, XRP/USD, ZEC/USD, DASH/USD, STR/USD, NXT/USD, XMR/USD and REP/USD. So, I spread my investment over those 11 positions.

My base currency when all positions are closed is btc because I often trade on btc to altcoins or altcoins to btc market, and I have used USD markets only a few times on trading so my base currency is BTC. Like you said I try to close my position when BTC/USD market is in a down trend, but not all BTC base currency pairs moves in the same direction as BTC/USD, therefore, most of BTC base currency pairs moves in the same direction as BTC/USD market.

Lagduf

sr. member

Activity: 1162

Merit: 260

I use bitcoin as base currency, I think that the bitcoin already accepted in the majority of the exchange site, i mean all of the exchange sites that gives the more easiest to use the bitcoin as the base pair. and bitcoin has the best volatility right now.

cryptomia

newbie

Activity: 21

Merit: 0

Everyone has their own strategy and style when it comes to trading players. You are in need of a base currency you are familiar with or it most based on your country of residence I think...

Jerald

full member

Activity: 293

Merit: 107

I'm using it really BTC it's a quality that's really good the best to investing

MikeyDotCom

newbie

Activity: 12

Merit: 0

Quote from: coin_coin on July 14, 2017, 09:48:01 AM

I often use BTC, I invest it for long term ,no matter it dump or pump , I hold it tightly.

Everyone has there own trading style. And, ofcourse it depends on when you bought it, but even if you invest long term, it's smart to exit the BTC if the trend goes down. You don't know for how long it will dump.

Look at the charts below. I got out of the bitcoin when it dumpt on 12 june, at $2560. Today we are at $2264. This is a dump of $300 per coin. I personly don't like to loss money.

http://i.imgur.com/ZGjMuiF.jpg

coin_coin

full member

Activity: 182

Merit: 100

I often use BTC, I invest it for long term ,no matter it dump or pump , I hold it tightly.

MikeyDotCom

newbie

Activity: 12

Merit: 0

Your base currency, is the currency you have, when all your positions are closed. This should be the U.S. dollar. Let me explain. If all positions are closed you expect the market to go down. If the market goes down, you can buy more bitcoins with the same amount of U.S. dollars, for the next position. So, if you’re trading any crypto currency part with BTC as the base currency (like XMR/BTC, ZEC/BTC etc.), you should close all your position when the BTC/USD is in a down trend, since any other coin that has BTC as the base currency will go down too. Let’s look at some examples.

http://i.imgur.com/WUYUD5r.jpg
(BTC/USDT daily charts)

http://i.imgur.com/6r1Wv5O.jpg
(XRP/USDT daily charts)

http://i.imgur.com/tNeWyBS.jpg
(ETH/USDT daily charts)

If you study all pairs, you will find out the all BTC base currency pairs are moving in the same direction as the BTC/USD.
That’s why I only trade crypto currency pairs with the U.S. dollar as the base currency. Poloniex offers 11 pairs I can trade on: BTC/USD, ETH/USD, ETC/USD, LTC/USD, XRP/USD, ZEC/USD, DASH/USD, STR/USD, NXT/USD, XMR/USD and REP/USD. So, I spread my investment over those 11 positions.

Topic: What is your base currency if you trade in alt-coins? - page 3. (Read 1002 times)