Which knowledge is important for crypto trading? - page 9.

poplolnman

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Quote from: Emperor of Man on January 09, 2018, 03:09:23 PM

I would recommend:

- Read a lot of the cryptocurrency-related sites and messengers, like these forums, telegram and slack groups, twitter, reddit, etc. No doubt, that's your best source.

- Analyze the charts of every improtant crypto that you like precisely. If you're interested in a coin, learn everything about it.

- There's controversy over usefulness of technical analysis, but I think at least learning the basics will help. There is no knowledge that is not power.

Actually it's really simple , just look at the exchange price difference and look which one go up first then make a move to buy the late up coin that basically could be at the next price level and so on. That's the most easier way , if you looking for the complex one then learn about trading skills like an analytical skill etc.

GalaxyWorld

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Quote from: ramzhies on January 11, 2018, 08:03:04 AM

crypto is driven by supply and demand.. most of the time, if there's upcomng news regarding that coin, price will surge up..
as for me, i always start on sleeping ones with notable background and fundamentals.. if the coin has an update on the roadmap, being listed on new exchange etc.. these are the common scenarios that pushes the price on new all time high..

The most important thing in crypto trading is the observation of market volatility. I used to use the technical analysis of the candlestick charts of the Forex market on crypto but I find it to be ineffective because the market is quite small and it is dominated by the price action of the beginning private and strongly influenced by the bad news of the market. So if you know how to observe and predict the market, then you will succeed with crypto.

ramzhies

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crypto is driven by supply and demand.. most of the time, if there's upcomng news regarding that coin, price will surge up..
as for me, i always start on sleeping ones with notable background and fundamentals.. if the coin has an update on the roadmap, being listed on new exchange etc.. these are the common scenarios that pushes the price on new all time high..

semarmesem195

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Activity: 294

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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...

In my opinion, in the trade of knowledge to be mastered is about the development associated with the business to be traded (crypto). With we know the developments that occur in the crypto, then we should not be afraid of failure in trade because we already anticipate the risk of failure with which we get from the development of crypto. And one more thing to do when you want to trade is understand "economic patterns" so you do not experience the economic bubble.

BitcoinNational

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Quote from: Emperor of Man on January 09, 2018, 03:09:23 PM

I would recommend:

- Read a lot of the cryptocurrency-related sites and messengers, like these forums, telegram and slack groups, twitter, reddit, etc. No doubt, that's your best source.

- Analyze the charts of every improtant crypto that you like precisely. If you're interested in a coin, learn everything about it.

- There's controversy over usefulness of technical analysis, but I think at least learning the basics will help. There is no knowledge that is not power.

I would say the same. About technical analysis, I would also recommend you to read at least the basics. I don't know a lot about it, but a friend of mine has learnt a lot with these technics and now, he is really good and has made good operations. It seems it's worth learning it

Xardasim

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I mainly use coinmarketcap for checking daily movements on cryptocurrency world. Crypto enthuaism is biggest reason for me for finding perfect financial system at world. Crypto trading is risky but rewards are also big.

Xising

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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...

I think it is the knowledge of information about the coins that one intends to trade. It is true that patience is a strong requirement in being able to trade successfully. Still, when the coin is truly worthless, then no matter how patient a person is, it will still not work out to be successful. That is why, we need to carefully plan and study everything first.

pinoyden

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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...

first of all , i would like to congratulate you because you now decided to do trading. secondly you need to do a lot of research regarding on the coins before you purchase them because not all coins can give you a return for your invested capital and lastly you need to have a patience and self control in order to handle your emotions because trading is too stressful if you dont have a those traits that i mention earlier. goodluck.

Qartersa

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I think you have already gotten the best responses to your question. But if I were you, you should master how to pluck up your attitude and emotions first and foremost. Trading is easy to learn especially when there are many guides and studies you can refer to. What is determinative of your success in trading is your attitude towards a win or lose or both all at the same time. Always try to gather your emotions under all circumstances because once your emotions falter, you cannot decide rationally no matter how educated you are at trading. All the best to each and everyone!

SirLancelot

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Quote from: cryptoglam on January 09, 2018, 11:08:08 AM

I think you really need to understand how it works and what it impacts and try to see a whole picture of what's going on but be emotionally ready for sudden changes

Yes absolutely one must be ready and learning all ifs and buts for what actually crypto world is. There are some people who even don’t learn properly and they start working and thus definitely they are encountering with heavy losses every other time. So better is to make yourself full of knowledge as needed and only then you would be diving in this ocean of traders.

chichigirl

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HELENA

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...

Be familiar with trading, coin and latest updates about the coin. You will earn if you invested it right and you have your patience with you. Those are the important qualities in trading to gain.

Emperor of Man

hero member

Activity: 886

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I would recommend:

- Read a lot of the cryptocurrency-related sites and messengers, like these forums, telegram and slack groups, twitter, reddit, etc. No doubt, that's your best source.

- Analyze the charts of every improtant crypto that you like precisely. If you're interested in a coin, learn everything about it.

- There's controversy over usefulness of technical analysis, but I think at least learning the basics will help. There is no knowledge that is not power.

Aprodite

member

Activity: 364

Merit: 17

I think the first is the community of coins to be purchased. If the coin you are going to buy has a good community. then the coin is a good coin. Next you only need to find the coin information from the community, usually the coin will go up if dev will make a new project concerned with the coin. But this way is for long-term investment. And hereafter is patience. you must be patient in trading (patience is the key to success in trading)

Ailmand

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Quote from: MissionPhailed on October 02, 2017, 01:29:27 PM

The majority of existing crypto is basically crap and will ultimately fail on the longer term. Try to find out which coins actually add something to the cryptosphere and consider investing in those. I won't name specific coins as I haven't done the necessary research myself yet. Set out a strategy (when to sell/buy) and adhere to it as much as possible. Oh yeah, and diversification is usually not a bad thing!

I somehow agree. I think the most valuable knowledge in trading is actually which coins you should better hold or trade for. Like the above-stated reply said, not all coins would survive with an exception of a few. With this idea in mind, you should have ample knowledge in order to at least deduce which coins would have that driving force and continuing power to prosper and not just die out after some time. I think most developers are just riding the wave and are not really eyeing for a better future for the coins they make.

PrinceCaspian

sr. member

Activity: 378

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You should focus in improving your knowledge about technical analysis compared to fundamental because technical analysis is like understanding the language of the coins because you can understand if they are going to fall or not and that is a great advantage in crypto trading and as a crypto trader.

Racekid

newbie

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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...

Setting Goals
If you wanna be a successful trader, you've to learn to set achievable goals. You've to state when you will take profits and set your Stop loss. And most importantly, doing your due Diligence. When you research about a project and you are really sure of it, be rest assured you would reap good profits. Without setting up goals, you're going nowhere

zemb

member

Activity: 168

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You need a lot of knowledge in trading like be patient, being a researcher and use some tips and strategy. Making a research you can know what is the best coin to buy because you read a lot of information of different coin

AjithBtc

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Quote from: gabmen on January 09, 2018, 11:22:19 AM

Quote from: cryptoglam on January 09, 2018, 11:08:08 AM

I think you really need to understand how it works and what it impacts and try to see a whole picture of what's going on but be emotionally ready for sudden changes

Right. First before any technicalities, you have to know yourself. Emotions taking the better of your judgement may be a big mistake. Then you have to extensively study the coins and their backgrounds before investing so you'll not end up investing in shitcoins.

Before getting into crypto trading its a must to have a long study about the different assets that were under selection for the purpose of buying or for investment. As in the above quote it can be clearly known about the particular coin through the analysis using the growth charts. More accurate the prediction about the growth, more will be the profiting.

gabmen

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Quote from: cryptoglam on January 09, 2018, 11:08:08 AM

I think you really need to understand how it works and what it impacts and try to see a whole picture of what's going on but be emotionally ready for sudden changes

Right. First before any technicalities, you have to know yourself. Emotions taking the better of your judgement may be a big mistake. Then you have to extensively study the coins and their backgrounds before investing so you'll not end up investing in shitcoins.

cryptoglam

newbie

Activity: 42

Merit: 0

I think you really need to understand how it works and what it impacts and try to see a whole picture of what's going on but be emotionally ready for sudden changes

Topic: Which knowledge is important for crypto trading? - page 9. (Read 5180 times)