What tools are not enough for you to interact with cryptocurrency?

Quidat

hero member

Activity: 2548

Merit: 533

Quote from: tbterryboy on August 23, 2020, 03:37:08 PM

I feel like no tool is there to make you money, there is no way that just because you downloaded some tools you could be great at trading, or using any tools would mean profiting in trading. Obviously speaking they would "help" you, that way you wouldn't really be blind when trading and it matters but that is just one thing that could help you but when you get help from the tools it would make it easier.

So, when you are trading, you have to realize that you are either profiting thanks to your own knowledge, or you are losing money, the tools you are losing would mean absolutely zero when you are not a smart trader, it wouldn't really help you out the way you think it would help you out. So all in all I would say it is not as vital as people think it is.

Tools are already there and it depends on how a certain trader would do make use of it and since we do have different level of intelligence and experience then outcomes or results would really be different to each other.
For news aggregator or even to those exchange price differentiation or comparative then its useful and its one of the tools but it doesnt mean that you would really be making money or guaranteed results.
Nothing is enough when you dont make profits or money.Consider its working if you do already some greens or gains. Just continue the work and learn further because market is always
been unpredictable where you do need changes depending on the current market condition.

desticy

sr. member

Activity: 1512

Merit: 292

www.cd3d.app

First of all, I would like to see an application that allows a convenient format to view and make notes regarding my trading history.
I mean the full functionality for analyzing data for each transaction I completed. Of course, the application should be able to collect statistics from external platforms through API keys.

It is also desirable that the application had the function of creating notes in real time for each specific transaction, and could do this also in automatic mode.
Such functionality, of course, is best suited for beginners than experienced traders.
Although who knows, many experienced traders dream of good analysis tools.

tbterryboy

sr. member

Activity: 1890

Merit: 322

I feel like no tool is there to make you money, there is no way that just because you downloaded some tools you could be great at trading, or using any tools would mean profiting in trading. Obviously speaking they would "help" you, that way you wouldn't really be blind when trading and it matters but that is just one thing that could help you but when you get help from the tools it would make it easier.

So, when you are trading, you have to realize that you are either profiting thanks to your own knowledge, or you are losing money, the tools you are losing would mean absolutely zero when you are not a smart trader, it wouldn't really help you out the way you think it would help you out. So all in all I would say it is not as vital as people think it is.

Harriti

sr. member

Activity: 756

Merit: 256

HEX: Longer pays better

Right now im just using Twitter because there are big founders and famous ones there. we get hot news from Twitter and it will have a huge impact.
If you're developing a news app, you should develop it with a bot. Let's create a bot to announce all new posts from famous people or entities that our users want to follow. That will help your app a lot.

NavI_027

full member

Activity: 1232

Merit: 186

Like other said, I also think of adding price comparisin between exchanges in your project. Though I don't find it necessary since you cannot easily jump from one exchange to another after you saw that the price is cheaper there but still it can help us to become aware of which exchange is better to use for the long run.

And I hope you can also make a mobile version of your work since smartphones are way more portable than other devices. We can be able to use your app even we are out of our home

.

Shasha80

sr. member

Activity: 1876

Merit: 318

With the development of increasingly sophisticated technology, many tools have emerged that replace the role of humans.
Like trading bots which are becoming popular today, many think that using trading bots can provide passive income. Even
though the reality is not like that, still tools such as trading bots need manual settings from humans. So I'm not the one
opposed to creating tools for interaction with cryptocurrency, but don't rely 100% on tools. We use tools as support when
trading only.

carlfebz2

hero member

Activity: 2926

Merit: 722

Quote from: MCobian on August 19, 2020, 06:21:04 PM

Actually relying on tools or apps to make decisions in the world of crypto trading is very risky and makes us lazier analyze the market.
But if it is taken into consideration and comparison is not a problem. One of the tools that are commonly needed is a crypto price comparison
on various exchanges as well as buying and selling price determination tools are quite necessary for me.

There are actually those sites that does have prices between popular exchange.- I totally forgot the name but it did exist where you can make use of this feature to
differentiate and compare price of a certain coin on various platforms on which you can actually make some arbitrate if the said gap would really be worthy to put on.

When it comes to tools then this would be primary and the rest are just typical stuff which had been commonly added feature which you can see
in the market today.

MCobian

full member

Activity: 1190

Merit: 117

Actually relying on tools or apps to make decisions in the world of crypto trading is very risky and makes us lazier analyze the market.
But if it is taken into consideration and comparison is not a problem. One of the tools that are commonly needed is a crypto price comparison
on various exchanges as well as buying and selling price determination tools are quite necessary for me.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: bitbunnny on February 18, 2020, 11:27:38 AM

I completely support new technologies and advantages they give us but sometimes I think that people have become so lazy that they want that different tools and machines do all the work instead of them.
When it come to areas like crypto trading I don't trust tools enough because I don't think they can replace humans in decision making and risk assement.
I'm not against their use but only as a support tool, not something that I would completely rely on.

When I'm having a hard time making a decision, I often think that a crystal ball would help me in such cases) But until you can buy it in a store, you have to do all the work yourself. Too bad OP didn't tell us about his idea of a currency comparison tool on exchanges. I think this should be useful in arbitration.

Sadlife

sr. member

Activity: 1400

Merit: 269

What type of program is it ? trading chart, software of extension ?
Well for me, it would be nice if there's a chart that has all of tradingview indicators because most tools is limited if you are only a free user there and it could be nice if that tool also has Oil, stocks, Gold prices which you could also compare Cryptocurrency in volatility, inflation and volume.

Quidat

hero member

Activity: 2548

Merit: 533

Quote from: Kelvinid on March 08, 2020, 05:47:40 PM

Quote from: whyrqa on March 07, 2020, 11:48:33 AM

Today, I am very limited in my capabilities and the more so as I am just starting to learn daily trading. But the fact is that I try to never store my assets in the wallets of the trading exchange and constantly withdraw them to Myetherwallet wallet. I use an Android-based smartphone and I am very worried about the constant entries in myetherwallet wallet. I use the Chrome browser to enter the wallet and believe that this is the most risky way to use my assets. Can someone advise me the best for android to use MEW for trade ?

If you have a laptop or PC available, better have to use it. Using phones to access your wallet is not really a good idea especially when you are doing transfer transactions. You have that worried also and don't make that worry turns into regrets later. Keeping our keys is very important and what you are doing now, by using your phone is simply you are trying to expose it to the others. What if, if your phone has stolen? This is something you'll need to think and keeping our keys inside our phone is not recommended.

Being paranoid isnt bad but too much of this would really limit you out into things that you can possibly do without any problems.
Im not saying i disagree into your sentiment but its not really that unsafe to make use of our phones when making these transfer or transactions
as long you do know on where you do keep your keys and doesnt carelessly installing random apps into your phone then risk of getting
hacked is less.Just know the basics of securing everything even you are making transactions with your phone it would be still hard for
others to get those coins.Just prioritize into things that should need to be kept.

4IRIK

jr. member

Activity: 62

Merit: 3

I guess tech analysis knowledge and risk management. Also good software.

Personally I trade on Bitmex (futures) with trailing stops (highly recommended) and support my trades with Bitinsure app. (https://www.bitinsure.com/)
It controls my risks (drawdown, losses and other trading limits and sends me alerts when any of them is reached. Also it gathers and calculates real-time stats so I do not spend any time on monitoring my accounts, looking of drawdown and other risks and have my performance stats at hand

Kelvinid

sr. member

Activity: 2800

Merit: 344

when lambo...

Quote from: whyrqa on March 07, 2020, 11:48:33 AM

Today, I am very limited in my capabilities and the more so as I am just starting to learn daily trading. But the fact is that I try to never store my assets in the wallets of the trading exchange and constantly withdraw them to Myetherwallet wallet. I use an Android-based smartphone and I am very worried about the constant entries in myetherwallet wallet. I use the Chrome browser to enter the wallet and believe that this is the most risky way to use my assets. Can someone advise me the best for android to use MEW for trade ?

If you have a laptop or PC available, better have to use it. Using phones to access your wallet is not really a good idea especially when you are doing transfer transactions. You have that worried also and don't make that worry turns into regrets later. Keeping our keys is very important and what you are doing now, by using your phone is simply you are trying to expose it to the others. What if, if your phone has stolen? This is something you'll need to think and keeping our keys inside our phone is not recommended.

whyrqa

full member

Activity: 1093

Merit: 103

Today, I am very limited in my capabilities and the more so as I am just starting to learn daily trading. But the fact is that I try to never store my assets in the wallets of the trading exchange and constantly withdraw them to Myetherwallet wallet. I use an Android-based smartphone and I am very worried about the constant entries in myetherwallet wallet. I use the Chrome browser to enter the wallet and believe that this is the most risky way to use my assets. Can someone advise me the best for android to use MEW for trade ?

Oceat

sr. member

Activity: 2506

Merit: 368

I think it's better to make some survey questionnaire that you want to answer to the people who aren't satisfied with the apps that they are using when interacting. A guidelines app that can be easily understood while asking some questions. Looking some answers here may take some time for you to find out IMO.

Superalgos

copper member

Activity: 87

Merit: 6

Quote from: PotatoWizard on February 17, 2020, 02:38:06 PM

I am creating my crypto project from scratch.
My friend and I are crypto enthusiasts. And we want to do our bit to the community. So far, it was in our power to make only a news aggregator, but we are actively working to expand its functionality.
We want to make some useful tools. For example, I personally did not find a convenient portfolio for myself, so we plan to add these things to the site.
Also, we have the idea of a tool for comparing currencies on exchanges. We want to make a convenient place where all the tools you need are collected in one place. And in the end, we plan to make a convenient and practical toolbox out of just a news aggregator.

What tools do you use to interact with cryptocurrency? What functions do you need? What do you advise us to strive for?

Maybe you can start by understanding what the future of crypto-trading will bring: Superalgos V.0.0.6 is around the corner...

davinchi

legendary

Activity: 2100

Merit: 1058

You can get a good response if you are able to integrate each and every tool needed on a single platform. You have to work hard in order to do so and also it would be good if you could circulate a survey form which might give you the exact answers for the needs of traders.

I am personally in need of a platform where I could find each and every detailed updated news about the cryptocurrencies 24 hours a day. This would help me save a lot of my time by digging some other platforms for reliable news. Moreover, you should try to educate more and more people towards crypto trading by listing some free courses onto the platform. I am sure this might generate a decent traffic onto the platform.

ice098

hero member

Activity: 1498

Merit: 586

Cryptocasino.com

Quote from: Polar91 on March 04, 2020, 09:59:26 AM

Quote from: PotatoWizard on February 17, 2020, 02:38:06 PM

Also, we have the idea of a tool for comparing currencies on exchanges. We want to make a convenient place where all the tools you need are collected in one place. And in the end, we plan to make a convenient and practical toolbox out of just a news aggregator.

It's already existing and being provided by companies such as Blockfolio, Tab Trader. Although you may add features thus you may differ from them, you'll end up being one of their competitors which is difficult for a starting company such as your company.

Quote from: PotatoWizard on February 17, 2020, 02:38:06 PM

What tools do you use to interact with cryptocurrency? What functions do you need? What do you advise us to strive for?

Most likely features for trading. There are a lot of features that can be added in trading. If you'll take a look at stock trading tools, there are a lot of elements from them which you can apply in crypto trading.

I am looking for a certain tools that could provide me an assurance that I can manage trading without any hassle. But as far as I can see nowadays, implementing any type of tools won't work until such time market demands will be back on a normal trend. We need to look closely on the factors that could help us establish a strong foundation before trading crypto asset.

RealMalatesta

legendary

Activity: 2338

Merit: 1124

Quote from: justdimin on March 03, 2020, 10:28:38 AM

I guess there are dozens of amazing portfolio tools that you can use plus there are even ones that arranges how much taxes you should pay as well so portfolio is not really a great idea.

However, when it comes to news aggregator that is not a bad idea but also not a one that could make you a lot of money.

If you really want to make something that would both help people out and also earn you money I would highly suggest a platform like fiverr where people could apply for jobs and others could list what they are looking for and you could take a cut from that.

There has been some tries for something like that before but none of them survived for too long since they couldn't find people to list jobs, if you could find business' that can list jobs then that idea could make a ton of money.

There is huge competition for the field OP is gaining interest and it might get challenging to gain some demand but the plan you mentioned might really make him able to get a stable source of income. There is huge demand for platforms offering jobs but majority of such platforms do not care to update new listing and the old listing dominate the main screen which makes a lot of people lose faith from such platforms.

OP might create a platform understanding the exact needs of unemployed people and it might really make him earn great profits. There are a lot of unemployed people as well as there are a number of firms which do not get appropriate employees and hence lack in the completion of work. A better platform to solve these needs can make millions.

Polar91

hero member

Activity: 1120

Merit: 553

Filipino Translator 🇵🇭

Quote from: PotatoWizard on February 17, 2020, 02:38:06 PM

Also, we have the idea of a tool for comparing currencies on exchanges. We want to make a convenient place where all the tools you need are collected in one place. And in the end, we plan to make a convenient and practical toolbox out of just a news aggregator.

It's already existing and being provided by companies such as Blockfolio, Tab Trader. Although you may add features thus you may differ from them, you'll end up being one of their competitors which is difficult for a starting company such as your company.

Quote from: PotatoWizard on February 17, 2020, 02:38:06 PM

What tools do you use to interact with cryptocurrency? What functions do you need? What do you advise us to strive for?

Most likely features for trading. There are a lot of features that can be added in trading. If you'll take a look at stock trading tools, there are a lot of elements from them which you can apply in crypto trading.

Topic: What tools are not enough for you to interact with cryptocurrency? (Read 497 times)