Bitcoin Forum

What are some of your must have trading tools?

For me, it's a SMS CryptoCurrency alert system. No more missed sales opportunities because I was out of the office or sleeping :)

there are not "must have" tools for trading in my opinion. if you are good at it, you can make profit even with your bare hands and at the same time all these tools won't change a thing if you have no idea what you are doing in this market 8)

but of course any kind of help that you can get from bots, alerts, automations, stop losses, ... is good as long as it is free and helpful.

It's an app that let me monitor my holdings bases on the price in trading site I have it. It offers alett system which can keep you lossing since it can help you to cancel your order once it hits the point you set. This is quite helpful for people who don't have much of time in trading.

yes for becoming a good trader you need to have good trading experience and knowledge. i think these are the good tools for becoming a good trader. because in trading we not only depend on our luck but we must also have good experience and knowledge, and experience in trading can only be get with the passage of time. we must spend time in trading with small amount and we get experience then we can increase our investment.

The only "must have" trading tools you need are brain and patience. Beside these, everything else is just a strategy choice.

Most of the traders are exiting winning positions too early and exiting losing ones too late.

Also many people are trading so many alt's they don't really have a clue what they are trading or the backing behind it.. its the wild west right now everyone buying anything available in the hope for "big things"  That's not trading. that idiocy.

MUST have? i would say an account in an exchange and a excell spreadsheet to keep track of your entry and exit points and overall profits and losses. That way in a few weeks/months when you look at a coin you now exactly at what prices you got in.

The ability to spot a trend. Definitely a must have.

that isn't quite effective and how about if you're hangout with your friends and forgot to bringing your phone but meanwhile there is several SMS regarding the movement of price and after back to your home you realize that missed some of good opportunity to get profit because you're too stupid didn't bring your phone so for me it's simple that trading tools is the knowledge and yourself

Must have?
- Well defined strategy:
1. entry price
2. exit price

- Well defined risk management:
1. trade size
2. periodically stress test your strategy/portfolio
3. what happens if

I would also add diversification.

Automate or semi automate your rules. By doing that, you will be more consistent with your rules and less emotionally. If you don't have any skills with programming, then pay a programmer to do it for you.

Are you referring to some third party paid recommendations services ? Are you sure that it is a type of trading tool ? I wonder you must be still in your beginning days of your trading. In this free world you may term your alert system as a tool. But when you will be depending on some paid services I guess you will never need anything else as your profits and looses are depending on some other people.

I guess this must not be a right way of trading. People may go lazy and may get you delayed predictions which may end up risking your entire capital.

Provide me with candlestick charts pattern and I am good to go. I can explain the mind of traders by analyze candlestick formation and signal. I don't depends on any other tools than my bear hand and my mind in forecast the trend, the traders sentiment and volumes.

I've not the trading tools, bust just tries to use the app that gives me about the latest update of the coin price. Sms alert not working smoothly for me, rather than using the SMS alert and I will prefer to use the manual check.
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but looks the SMS alert doesn't give you a lot of detail about the latest pump of coin

My Friend said :
For trading you must have :
Method  | you must have system trading
Money   |you  must have management of money and risk
Mind     |you  must can control my emotion

The tool I usually use is a ZTrader application with the application I can monitor the price anywhere and anytime. You can also set the alarm for your order if you are sleeping or relaxing.

Is your SMS alert app going crazy right now?  :D