Which knowledge is important for crypto trading? - page 18.

metenjean

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Quote from: Sohailul on October 02, 2017, 12:53:50 PM

I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...

If you want to pick the best coin for trading then i suggest picking major coins such as BITCOIN, MONERO, DOGE, etc but if you're looking for long term trading investment then you need to possibly read whitepaper of the token or projects that you have interest in it Grin

Domenc

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The knowledge of crypto coin market value is the most important thing that a trader must know before trading .
All other factors comes after this . If you invest in any alt coin without knowing its market value then there are more chances of getting loss then that of profit . There are thousands of altcoins in the market ,choosing the best ones is the foremost task for trading . Other than that I would say that bitcoin is most trustworthy coin as compared to others so you must start with bitcoin .

jenni161

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Quote from: frowsiter on October 02, 2017, 11:59:31 PM

Quote from: Sohailul on October 02, 2017, 12:53:50 PM

I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...

Go for the swing trading in the initial stages as it is the most easy stuff for newbie trader. It's simple bug at low and sell at high game which you can win if you find some good coins. Try to trade top most linked coins on the exchanger which will be shown on the different exchanger itself. If you mid them then just nite them die and again wait for the opportunity to buy at low. Repeat this for every coin that you think is potential coin. Not only this but you can also try copy the experts on the forum. Keep an eye on the people about what coin they are speaking about and also join the pump groups who will artificially pump the coin for getting profits. This might be confusing to understand at this point but you will get feel for everything soon.

Where can I find these pump groups? Another newbie asks.

eternalgloom

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Quote from: InsightCryp.to on November 03, 2017, 04:07:41 PM

Wow, I thought studying about charting and basic trading is already enough. Thanks for the tips you guys posted, this thread is really helpful. I wish I could master the skills that would fit my trading style. Thanks!

Reading or watching tutorials is a really good start, but it's very important to get some hands on experience too.
Start trading with little amounts and pick coins that are volatile (big price swings), you'll get a feel for the market and can apply your strategies immediately.

Also don't forget to make a log of your strategies and the profits or losses it generated.
There are services that offer this automatically though

jonatuzc

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Quote from: tawfiquecse on November 04, 2017, 04:12:27 AM

At first You have to find best coin in low rate, You may use google or bitcointalk forum site. After select coins you can now trading. You must be updated everytime for any news . Because in every minutes every seconds the coin price is changing .
you have to also understand which coins price is now low rate and when price is high.. Then Buy huge altcoins in lowrate and keep eyes when the price is high. If price is high then sale all your altcoins , you can get a good profit from it.

Obviously if someone wants to actually get into cryptocurrency trading market then the most important knowledge he must have is about the present rates of various digital currencies.

One of the easiest method to earn more profit in a less amount of time is to go for altcoin trading because they are among the lowest rated coin and once you buy them at low price then there comes a time when the prices face fluctuation towards the positive side at that time selling your coins would earn huge great profit indeed.

tawfiquecse

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At first You have to find best coin in low rate, You may use google or bitcointalk forum site. After select coins you can now trading. You must be updated everytime for any news . Because in every minutes every seconds the coin price is changing .
you have to also understand which coins price is now low rate and when price is high.. Then Buy huge altcoins in lowrate and keep eyes when the price is high. If price is high then sale all your altcoins , you can get a good profit from it.

Nerman

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This is a bad way to start trading you should educate your self first before going to trading. You might see yourself losing a lot of money if you do not know waht you are doing. Trading seems simple but it is not a game you can end up broke by doing bad trades.you should have at least tried it first in a demo account but since you are already have a live account key thing is to control your emotions sounds easy but seeing your trades going negative is not pleasant to the eyes. Also try to learn at least the basics of candles sticks and support and resistance. There are a ton of videos/tutorial in you tube that you can watch.

krayzie32

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https://streamies.io/

If you start by number zero, you have to learn day by day. Read more and more topic in this forum. It will help you get knowledge.

okala

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Candlestick formations is the best knowledge one should strive to have about trading. As a trader I can actually tell you how candlestick perttan contains every information one will need about any coins one needs to trade. Technical information and fundamental issues are all computed into candlestick at a particular time of trading circles . If you understand how it works you have a gold in your hands.

InsightCryp.to

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Wow, I thought studying about charting and basic trading is already enough. Thanks for the tips you guys posted, this thread is really helpful. I wish I could master the skills that would fit my trading style. Thanks!

ahasan909

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Quote from: Sohailul on October 02, 2017, 12:53:50 PM

I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...

You have to search which coin are best in the market just search Google for more information.
so my opinion

Btc LTC ,Waves,LTG, MCO, eth is still best for trading

Aniik

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We live in an age of modern science where impossible can be replaced by possible. So,there are thousand types of way to know about bitcoin.Because, the knowledge is important for crypto trading. Firstly, English language is needed in this respect. After buying some coin,you hold it for increasing it's demand.Then you surely gets more money.So,you have some basic knowledge about trading and that's enough in this regard.

Heyyyrenz

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There are many ways for you to become better in trading you can read news, articles and blogs that has a potential you can also do a research for yourself in here https://coinmarketcap.com/ you watch the price graph, history, volume and price of the coin you want to invest.

and also you can read different types of strategies in trading one example is the most famous "Buy low and sell high" in which you're going to buy low price coins and sell it when the price starts to rise. You can read this article if you want to or search for yourself: https://www.buybitcoinworldwide.com/trading/

Another thing is you can either choose either do a long term trading or Day trading. In Day trading is where you're going to sell your coin in a small profit, in Long term trading is where you will invest in coin for a long time and wait for it to pump and you're going to sell it when the price is at peak.

kevpantof

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Quote from: ?? on ??

With so many coins available nowadays, to only check the news isn't sufficient anymore for successful trading. You need also to analyse the coin, its publisher and their marketing budget.

Yes, the higher the demand for a certain coin is, the higher will be its price, but the effort is to create the high demand and this will cost a lot of money and if the project hasn't enough budget or publicity it will likely fail.

It is crystal clear that you cannot perform great in trading until and unless you don’t have sound knowledge about the coins you want to trade with. Just reading whitepaper of the coin is not enough for knowing all about the project. You really need to work hard in order to reach the authentic and useful information of the coin. There is no doubt that great demand indicates great price.

sayet

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Quote from: gentlemand on October 02, 2017, 02:54:25 PM

What is your knowledge of yourself?

Traders fail most often because they have no control over their emotions. If most people did the exact opposite of what their emotions were telling them to do then they'd come out on top.

Does risking any amount of money make you nervous? Most people play right into the hands of the people who conquered their emotions long ago. They're depending on you to buy at the peaks they create and then sell back to them when things are looking their worst.

Think through how you've reacted to stress in the past and then decide whether trading is something that you'll be successful at.

Thanks for this write up.

romecheo

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Patience, self control and thorough studies on crypto currencies are most important, upon entering into the world of Trading, you must invest more of your time, no short cut available on trading.

TagaMungkahi

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Bounty Campaign Manager? --> https://goo.gl/YRVVt3

Quote from: Sohailul on October 02, 2017, 12:53:50 PM

I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...

I think you should still follow the basics which is sell when it's high and buy when it's low. Only entertain trust-able cryptos with good background and history and an active developers. Always remember the lat price that you sell and buy, that should be always your new markup. Overall, you need to know the basics on trading.

amaral1977

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Quote from: Sohailul on October 02, 2017, 12:53:50 PM

I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...

Holding some of the best established cryptos is the first step. This is a growing market and beat in day trading is not easy. Even if you profit its not easy to profit more than just holding the big ones, being BTC the biggest. That said you can still play around a littl. However i would not put more than 10% in day trade and if im bag holding, just assume the loss if you want to keep playing, or wait. panic selling is never a good option.

When you move from this first step and actually trade you should first learn how the platforms work, then which coins are around and what they are proposing to deliver. Is always best to risk trading coins you won´t mind holding if the trade doesn´st go your way. For instance i stil believe we can see a DGB spike and i have a small stash bought over 500 sats. As i like the coin, i´ll just hold on o it and see if it recovers because i believe it will.

then you might want to learn a bit about tech analysis. even if you do not do it yourself it is usefull to understand what people are tweeting about bollinger bands , fib levels or RSI.

When this is achieved maybe a year or two have passed and you might post again with new questions:)

ivanst776

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Quote from: waser12 on October 06, 2017, 06:06:22 AM

probably the most important thing to understand is that there are no guarantees and stability...

Trading is considered a risky profession because of the volatility of assets. However, it is also a very beneficial job. Every problem has a solution and trading can be done safely. The foremost skill that can save a person from loss in trading is patience. In the dip season, the investors must buy more asset but people sell out due to panic. This is the worst mistake in trading.

coinplus

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Quote from: marcbitcoins on October 06, 2017, 08:05:49 AM

Quote from: Sohailul on October 02, 2017, 12:53:50 PM

I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...

You should learn the golden rules of trading before you joining any trades my golden rules are:
1. Make peace with your losses so they wont disturb you future.
2. What other people think of your trading is non of your business.
3. Don't compare your trades to others because comparison is the thief of joy.
4. The Only person in charge of your success is you.
5. Stop thinking so much sometimes you just need to take action.

That number 4 really got my attention. The only person in charge of your success is you. Even in real life situations, you are the only one who can make plans, strategies, know exactly what you want to do, own up to your decisions and make the best out of anything you want to do. Don't follow the crowd, be sure of what you want to do as long as you know what you are doing, stick to it and own up to it even if you make mistakes and never forget that learning is very important.

Topic: Which knowledge is important for crypto trading? - page 18. (Read 5180 times)