The most important thing in trading crypto is a skill, but patience is also needed in order to make the appropriate action. Most traders difficult to control the emotions that can not make a good profit. Which the most important is to choose a site that truly reliable and not a scam.
yes skill and patient play important role in trading crypto, but to me experience and knowledge about a particular currency is also so much important for a successful trading, if you have some good knowledge about currency in which you are going to trade then the result will be really good. 
Topic: What would be your recommendations when trading crypto? - page 3. (Read 6595 times)
Trading in Altcoins is a good step for earning maximum profits.It depends upon which Altcoin you choose.You should see the market strategy of that altcoin, its founder who has invested in it and then only you should invest in it. You must see how long that altcoin has survived in the market.Then only, your investment will be secure.If you invest in a newly introduced altcoin, you have more chances of gaining more profits, but at the same time, you may loose your entire investment also.
Altcoin be alterantif when the price of bitcoin have very stable rates. plus altcoin just need the capital that is not too much to trade. altcoin is a very wise alternative, we can benefit greatly when the pump against the coin. 
Trading in Altcoins is a good step for earning maximum profits.It depends upon which Altcoin you choose.You should see the market strategy of that altcoin, its founder who has invested in it and then only you should invest in it. You must see how long that altcoin has survived in the market.Then only, your investment will be secure.If you invest in a newly introduced altcoin, you have more chances of gaining more profits, but at the same time, you may loose your entire investment also.
I agree because of the volatility of altcoin, it is now the favorite trading grounds of investors. Unlike bitcoin that someone needs a year to get a good profit, altcoin sometimes only need an hour or a day. The time is very essential because of the timing to get in the start of a pump and get out at the middle to near the peak of the pump.
Trading in Altcoins is a good step for earning maximum profits.It depends upon which Altcoin you choose.You should see the market strategy of that altcoin, its founder who has invested in it and then only you should invest in it. You must see how long that altcoin has survived in the market.Then only, your investment will be secure.If you invest in a newly introduced altcoin, you have more chances of gaining more profits, but at the same time, you may loose your entire investment also.
The best recommendations for newbies in forex, bitcoin or other arbitrage trading is sound money management. Note: there is know any strategy that work hundreds percent but good money management will save you from bad trade, maximize your profits and lower your risks.
Yes, money management is more important but it needs to be done along with a better trading strategy. Because, money management has only supporting role on profit making and but plays a vital role preventing losses whereas trading strategy has the main role of generating profits. But, we never ignore money management as it will help any trader in preventing losses.
The best recommendations for newbies in forex, bitcoin or other arbitrage trading is sound money management. Note: there is know any strategy that work hundreds percent but good money management will save you from bad trade, maximize your profits and lower your risks.
Yes, money management is more important but it needs to be done along with a better trading strategy. Because, money management has only supporting role on profit making and but plays a vital role preventing losses whereas trading strategy has the main role of generating profits. But, we never ignore money management as it will help any trader in preventing losses.
The best recommendations for newbies in forex, bitcoin or other arbitrage trading is sound money management. Note: there is know any strategy that work hundreds percent but good money management will save you from bad trade, maximize your profits and lower your risks.
Yes, money management is more important but it needs to be done along with a better trading strategy. Because, money management has only supporting role on profit making and but plays a vital role preventing losses whereas trading strategy has the main role of generating profits. But, we never ignore money management as it will help any trader in preventing losses.
The best recommendations for newbies in forex, bitcoin or other arbitrage trading is sound money management. Note: there is know any strategy that work hundreds percent but good money management will save you from bad trade, maximize your profits and lower your risks.
Yes, money management is more important but it needs to be done along with a better trading strategy. Because, money management has only supporting role on profit making and but plays a vital role preventing losses whereas trading strategy has the main role of generating profits. But, we never ignore money management as it will help any trader in preventing losses.
The best recommendations for newbies in forex, bitcoin or other arbitrage trading is sound money management. Note: there is know any strategy that work hundreds percent but good money management will save you from bad trade, maximize your profits and lower your risks.
Even though, I've been several years buying, selling and even holding Bitcoin and cryptocurrencies there is one thing that I need to master yet and that is the ability to trade effectively any crypto in order to maximize profits.
Since crypto is highly volatile (especially alt coins), there is a good chance to make decent profit via trading.
Any good recommendations or resources that you could recommend me in order to trade cryptocurrencies effectively? (books, or any other resource)
I know one key rule which is buy low, and sell high but most of the times I end up loosing more than what I have invested initially instead of maximizing profits.
Since crypto is highly volatile (especially alt coins), there is a good chance to make decent profit via trading.
Any good recommendations or resources that you could recommend me in order to trade cryptocurrencies effectively? (books, or any other resource)
I know one key rule which is buy low, and sell high but most of the times I end up loosing more than what I have invested initially instead of maximizing profits.
There is no book that tells you the secrets of trading, from my experience (which is not a lot but not small too) you learn more by doing.
Trade yourself (without bots) and analyze a lot the most traded coin on the exchange you plan to trade.
I'm not saying that the books don't teach us anything but we have to face with the real situation where you "play" with your funds.
And from experience you can gain skills and you think way different comparing with the trading that you started at day 1.
You need both theory & real action and apply it at same time to get the best result.
Then the next step is to make a steady profit , targetting a goals and coumpound every profit you got to your capital.
for now, i think my recommendations is what do you want to trade? btc pair altcoin or btc pair usd or btc pair euro. after you decide what you want to trade, then if you choose btc pair altcoin, you need to watch the altcoin you might want to select. this could be by watching the volume of the coins, the order buy and order sell, the market depth, the charts of the market, or the market history.
this can be your option when you want to trade crypto because with you analyze all the thing i mention, you can select which altcoin will be make you profit and you can avoid by selecting wrong altcoin. don't be afraid if you are not profit, just trial and error, and i am sure finally you can be a pro trader like other trader.
this can be your option when you want to trade crypto because with you analyze all the thing i mention, you can select which altcoin will be make you profit and you can avoid by selecting wrong altcoin. don't be afraid if you are not profit, just trial and error, and i am sure finally you can be a pro trader like other trader.
My recommendation when trading crypto is just to think about yourself first. Think that are you sure that you really want to enter trading? And once you decided that you really want it, then make some assumption on how much you are going to invest in trading and lastly, take some time for researching for the strong alt coins that you wanted to buy and trade.
Even though, I've been several years buying, selling and even holding Bitcoin and cryptocurrencies there is one thing that I need to master yet and that is the ability to trade effectively any crypto in order to maximize profits.
Since crypto is highly volatile (especially alt coins), there is a good chance to make decent profit via trading.
Any good recommendations or resources that you could recommend me in order to trade cryptocurrencies effectively? (books, or any other resource)
I know one key rule which is buy low, and sell high but most of the times I end up loosing more than what I have invested initially instead of maximizing profits.
Since crypto is highly volatile (especially alt coins), there is a good chance to make decent profit via trading.
Any good recommendations or resources that you could recommend me in order to trade cryptocurrencies effectively? (books, or any other resource)
I know one key rule which is buy low, and sell high but most of the times I end up loosing more than what I have invested initially instead of maximizing profits.
There is no book that tells you the secrets of trading, from my experience (which is not a lot but not small too) you learn more by doing.
Trade yourself (without bots) and analyze a lot the most traded coin on the exchange you plan to trade.
I'm not saying that the books don't teach us anything but we have to face with the real situation where you "play" with your funds.
And from experience you can gain skills and you think way different comparing with the trading that you started at day 1.
Even though, I've been several years buying, selling and even holding Bitcoin and cryptocurrencies there is one thing that I need to master yet and that is the ability to trade effectively any crypto in order to maximize profits.
Since crypto is highly volatile (especially alt coins), there is a good chance to make decent profit via trading.
Any good recommendations or resources that you could recommend me in order to trade cryptocurrencies effectively? (books, or any other resource)
I know one key rule which is buy low, and sell high but most of the times I end up loosing more than what I have invested initially instead of maximizing profits.
Since crypto is highly volatile (especially alt coins), there is a good chance to make decent profit via trading.
Any good recommendations or resources that you could recommend me in order to trade cryptocurrencies effectively? (books, or any other resource)
I know one key rule which is buy low, and sell high but most of the times I end up loosing more than what I have invested initially instead of maximizing profits.
We all end up loosing in trading because our emotions get the better of us. When the prices go up very fast we tend to chase it and buy at whatever price there is available because we are fearful that the "train will leave" without us. Then to only see that a fall in price happens making our trade a losing one. So one trait that would be good to have as a trader is to be calm in the face of the volatile nature of cryptocurrencies.
that is why you should never trade in your life because you are an emotional guy.
a trader should delete any emotional thinking out of his mind and instead starts thinking more logically and like a machine.
That is easier said than done. Even professional traders make bad trades because they also get affected emotionally. We are only human so we cannot really "switch off" our emotions.
Quote
and actually that is why many traders use bots for trading because that would eliminate the emotion part.
This is a very good suggestion. Using bots would automate your trade and follow all your orders even in the face of volatility. The limitation of this is your trades will become too "robotic". Some traders trade by feeling the market. It is an art form to them and it has to come with a little finesse. Bots will only ruin their style.
Be patient what you are trading. If you can't wait for a week or a month then stop trading cryptos. You'll just end up losing your capital if you are not patient in trading. Not all cryptos always pump. You can't predict when it will pump so you really need patience to gain profit.
Not the case here. You are talking about position trading (when you hold your assets for months to years) or in the best case swing trading (days to weeks).You know that there are other types of short time trading like Day trading (self explanatory) and Scalp trading (seconds to minutes)too?
Let the op decide which trading pattern he feel the most comfortable with and practice.
patience is not about waiting for weeks, months to reach the position. patience means waiting to reach that position and not give up with any single small swing.
as and exaggerated example if you want to sell bitcoin at $650 and have bought at $600 don't just panic and sell if you saw price going from $640 to $639
patience its meaning don't get panic if there is down trend and make cut loss for the coins, just make sure first before you want to cut loss. beside that, don't too rush when you see the price is suddenly get jump and you think oh this must be another pump and you decide to buy because you don't want to be late to make profit.
we don't know what will happen in the market, and with patient and still calm, we can make analyze and decide when we want to buy and sell our coins. sometime patient is worth than cut loss and we can still analyze other coins that maybe have opportunity to get jump for the price.
Thats really the hard part on doing trading because of doing assumptions anytime on price movements. Making decision on cut loss would do as long it would hit the right spot. Lets not assume that our expectations would be always right because price movements are really unpredictable and would even break our hopes. The main thing we could do here is to get out on the right time to make successful trades.
Be patient what you are trading. If you can't wait for a week or a month then stop trading cryptos. You'll just end up losing your capital if you are not patient in trading. Not all cryptos always pump. You can't predict when it will pump so you really need patience to gain profit.
Not the case here. You are talking about position trading (when you hold your assets for months to years) or in the best case swing trading (days to weeks).You know that there are other types of short time trading like Day trading (self explanatory) and Scalp trading (seconds to minutes)too?
Let the op decide which trading pattern he feel the most comfortable with and practice.
patience is not about waiting for weeks, months to reach the position. patience means waiting to reach that position and not give up with any single small swing.
as and exaggerated example if you want to sell bitcoin at $650 and have bought at $600 don't just panic and sell if you saw price going from $640 to $639
patience its meaning don't get panic if there is down trend and make cut loss for the coins, just make sure first before you want to cut loss. beside that, don't too rush when you see the price is suddenly get jump and you think oh this must be another pump and you decide to buy because you don't want to be late to make profit.
we don't know what will happen in the market, and with patient and still calm, we can make analyze and decide when we want to buy and sell our coins. sometime patient is worth than cut loss and we can still analyze other coins that maybe have opportunity to get jump for the price.
Be patient what you are trading. If you can't wait for a week or a month then stop trading cryptos. You'll just end up losing your capital if you are not patient in trading. Not all cryptos always pump. You can't predict when it will pump so you really need patience to gain profit.
Not the case here. You are talking about position trading (when you hold your assets for months to years) or in the best case swing trading (days to weeks).You know that there are other types of short time trading like Day trading (self explanatory) and Scalp trading (seconds to minutes)too?
Let the op decide which trading pattern he feel the most comfortable with and practice.
patience is not about waiting for weeks, months to reach the position. patience means waiting to reach that position and not give up with any single small swing.
as and exaggerated example if you want to sell bitcoin at $650 and have bought at $600 don't just panic and sell if you saw price going from $640 to $639
Be patient what you are trading. If you can't wait for a week or a month then stop trading cryptos. You'll just end up losing your capital if you are not patient in trading. Not all cryptos always pump. You can't predict when it will pump so you really need patience to gain profit.
Not the case here. You are talking about position trading (when you hold your assets for months to years) or in the best case swing trading (days to weeks).You know that there are other types of short time trading like Day trading (self explanatory) and Scalp trading (seconds to minutes)too?
Let the op decide which trading pattern he feel the most comfortable with and practice.
Be patient what you are trading. If you can't wait for a week or a month then stop trading cryptos. You'll just end up losing your capital if you are not patient in trading. Not all cryptos always pump. You can't predict when it will pump so you really need patience to gain profit.
I would recommend to spend time investigating the coins you want to invest in. Don't give notice to the trollbox on exchanges, they are mostly there to walk away with your money. Start with small amounts and when your confident in not losing your money, start increasing your investment portfolio
We should really not rely to those person who speaks on trollbox because as you said they would mostly there to take your money on to their coin thats why newbies dont have awareness in the troll box for sure would lose up money when they tend to trade with it. Buy low sell high doesnt work anytime when you are trading because same as others said here that you would really need up patience to do such actions or decisions.
Jump to: