Author

Topic: What to learn in crypto (Read 228 times)

member
Activity: 126
Merit: 29
Get Maximalist or Get Wrecked
November 20, 2018, 12:03:29 AM
#14
Many top-100 coins get high value merely because of price manipulation. Yes, price manipulation also presents in the stock and forex market, but here, it's 100x more severe.

I encourage you to do your research about the technology (consensus mechanism, algorithm, purpose), team, and economics (total supply, inflation, coin holder), etc. before you put your money into a cryptocurrency, this is similar to the fundamental analysis that we use in the stock market.

Not hating on your post, it is perfect example why so many "wanna-be" traders are going to lose their money whenever this "game" dries up.

Then with less people trying to play the shitcoin game, it gets harder and harder to make money as an individual or with a shitcoin.

As bitcoin drops (like it is now) people move from shitcoins back into bitcoin.

The best thing to learn in crypto is there are many hodler's of bitcoin that don't tread into the cesspool of altcoins because there are too many frauds and scams. Until some new ways of assessing value are actually clear, trading will still be popular but there is little doubt there is going to be a crash in Alts at SOME point here. Considering Bitcoin and Ethereum are still not "classified" by the SEC as securities or defined properly as new asset classes.

https://toshitimes.com/sec-suspends-tradeable-assets-for-bitcoin-and-ethereum-on-exchanges/

The people coming into crypto looking for a quick buck have many other people in crypto hoping they lose their money and leave. Buying bitcoin and hodling is the only real way to store value long term.
newbie
Activity: 8
Merit: 0
November 19, 2018, 11:33:47 PM
#13
In crypto volatility and manipulatinon is very much and in not all coins technicals work because volumes are only not there it's hard to find good coin as we can't do fundamental analysis like in stocks also
newbie
Activity: 52
Merit: 0
November 18, 2018, 12:12:02 AM
#12
i also from forex background i am also in similar situation  form some days even i am watching markets and if i get see some new concepts i search in google or youtube to learn regarding those concepts for new members it will confuse a lot
newbie
Activity: 56
Merit: 0
November 17, 2018, 10:05:03 PM
#11
Welcome to crypto
Starting with the basics, learn about blockchain technology, how it works, its use case, everything about it.
I would recommend the following books for you to read
1. "The Internet of Money" by Andreas Antonopoulos
2. "Digital Gold" by Nathaniel Popper
3. "Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond" by Chris Burniske and Jack Tatar

Since you have a background trading forex, crypto shouldn't be so difficult for you. A reminder, just know that crypto is too volatile and invest only what you can afford to loose.

Thanks for recommendation of books
No i wont invest i will be observing markets and keep track of some coins 
newbie
Activity: 56
Merit: 0
November 17, 2018, 10:01:13 PM
#10
Hi @steve57, if we assume that each coin price in crypto market truly represents its technological value, then the technical analysis would be sufficient. However, that's not the case. Many top-100 coins get high value merely because of price manipulation. Yes, price manipulation also presents in the stock and forex market, but here, it's 100x more severe.

I encourage you to do your research about the technology (consensus mechanism, algorithm, purpose), team, and economics (total supply, inflation, coin holder), etc. before you put your money into a cryptocurrency, this is similar to the fundamental analysis that we use in the stock market.
yes what in crypto volatility is more and even i observed manipulation is also more , i think only few coins are fit for technical analysis i should depend more on fundamentals for  crypto 
legendary
Activity: 2814
Merit: 2472
https://JetCash.com
November 17, 2018, 02:04:12 PM
#9
Patience would enable you avoid panic sales,and you'll also be able to hodl your coins till you're comfortable selling off..

A good trader can make more money in a bear market than a bull market. HODLing isn't an option in this case. In fact an uncovered bear with gearing runs the risk of getting wiped out pretty quickly, if the whales decide on a temp. pump to squeeze out the bears. I would advise against short term trading until you find out about Bitcoin's differences.

I find Carl from The Moon interesting, but there are several other You Tube posters who make good and informed videos. This is Carl's latest video.
https://www.youtube.com/watch?v=KYxFWOEbuPU
jr. member
Activity: 98
Merit: 2
November 17, 2018, 01:48:16 PM
#8
One very important factor to learn in this network in my opinion is patience,really it's as important as all the technicalities one should also be familiar with while trading...
Patience would enable you avoid panic sales,and you'll also be able to hodl your coins till you're comfortable selling off..
The market is unpredictable,so patience is always important
copper member
Activity: 2856
Merit: 3071
https://bit.ly/387FXHi lightning theory
November 17, 2018, 01:38:38 PM
#7
Technical analysis, if you’re trading is probably the most important thing still.

I'm not sure that is true of Bitcoin, unless you are a day trader, or trying to earn in a bear market of course. For a long term investor ( a couple of years or more ), the fundamentals are more important in my opinion. The price seems to be heavily manipulated at the moment, and manyaAa forecast based on TA seems to be self-fulfilling. I suspect that this is the result of whale manipulation in periods of low activity. Other factors such as the hash war surrounding the Bitcoin Cash fork can also have an impact on the price.

Imo if you’re a long term investor it’s best not to look at the price. A huge bull run will take about a month so you can check it weekly and know when it’ll happen. I would suggest probably not selling with a rise as minimal as 10% and instead waiting out for it t increase by a lot more (2x maybe).
legendary
Activity: 2814
Merit: 2472
https://JetCash.com
November 17, 2018, 01:22:00 PM
#6
Technical analysis, if you’re trading is probably the most important thing still.

I'm not sure that is true of Bitcoin, unless you are a day trader, or trying to earn in a bear market of course. For a long term investor ( a couple of years or more ), the fundamentals are more important in my opinion. The price seems to be heavily manipulated at the moment, and many a forecast based on TA seems to be self-fulfilling. I suspect that this is the result of whale manipulation in periods of low activity. Other factors such as the hash war surrounding the Bitcoin Cash fork can also have an impact on the price.
jr. member
Activity: 237
Merit: 4
November 17, 2018, 12:57:15 PM
#5
Welcome to crypto
Starting with the basics, learn about blockchain technology, how it works, its use case, everything about it.
I would recommend the following books for you to read
1. "The Internet of Money" by Andreas Antonopoulos
2. "Digital Gold" by Nathaniel Popper
3. "Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond" by Chris Burniske and Jack Tatar

Since you have a background trading forex, crypto shouldn't be so difficult for you. A reminder, just know that crypto is too volatile and invest only what you can afford to loose.
jr. member
Activity: 140
Merit: 2
FUTURE OF SECURITY TOKENS
November 17, 2018, 11:52:57 AM
#4
Well I personally entered the cryptocurrency world because I was thrilled with the advantages blockchain has over traditional means of transactions. Well I also invest but I invest in established coins it reduces my risk Factor
copper member
Activity: 2324
Merit: 2142
Slots Enthusiast & Expert
November 17, 2018, 11:21:01 AM
#3
Hi @steve57, if we assume that each coin price in crypto market truly represents its technological value, then the technical analysis would be sufficient. However, that's not the case. Many top-100 coins get high value merely because of price manipulation. Yes, price manipulation also presents in the stock and forex market, but here, it's 100x more severe.

I encourage you to do your research about the technology (consensus mechanism, algorithm, purpose), team, and economics (total supply, inflation, coin holder), etc. before you put your money into a cryptocurrency, this is similar to the fundamental analysis that we use in the stock market.
copper member
Activity: 2856
Merit: 3071
https://bit.ly/387FXHi lightning theory
November 17, 2018, 11:01:49 AM
#2
Welcome to the forum! If there’s anything specific you’d like to know just ask.

I guess smart traders of forex might have done background analysis of the companies they wrrr incestding in also.

I didn’t come from a forex background myself, I came more from computer science research that I did and I was quite young. Technical analysis, if you’re trading is probably the most important thing still. No one seems aware of bugs anymore unless you have a high understanding of the currency so the price remains stable even when a large vulnerability is found (like the most recent one).
newbie
Activity: 56
Merit: 0
November 17, 2018, 10:23:05 AM
#1
Hi friends I am trading in forex and stock exchanges from past 2 years . and completely new to crypto but i don't know what concepts to learn other than technical analysis ,as technical analysis was enough for me in forex and stock exchanges
But in crypto the are many new concepts which i have not even heard before , i think many of you entered into crypto like me (from trading in forex and stock exchanges ) share your experience also for newbies 
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