Bitcoin Forum

Hey everyone, I'm getting started in the crypto area I understand people look at charts to trade coins for profit! I am wondering does anyone else use any other techniques ??

I have read that a lot of the market is on hype and news... Does anyone trade based on news stories with any success is this possible ?

keen to hear everyones thoughts !

Thanks 

Buy low - Sell high!

Trading based on news is going to be one of the most profitable things you can do. Join telegram groups, follow twitter pages etc. Live Q&As are always good for getting information. Once you understand how certain information can effect the price it's really just a case of being the first to hear and understand the news and buying/selling accordingly.

Mostly there'll be two types of news - news that effects all of the crypto market, think regulations and other major news story.
                                                     - news specific to one coin, this will be things like progress updates on development or new partnerships etc.

telegram group & twitter. Follow the news and buy low sell high

Obviously, literally do your research as there no way to loose your hard earned money. Do keen observation over the markets, choose those are may profitable in the long term and always active social media to catch the hot news.

Charting isn't something which can ever be learned, cause it's not real. There's nothing behind it at all, TA is bullshit and the people that are trying to show people that these works are the people that are trying to shill all of the coins which they're doing 'technical analysis' for.

The only tactic is to do your own research and find your own way in crypto. Buy low and sell high!

Its advisable to do your own research (DYOR),its your investment so should be responsible for it
but its more effective to match your research by following reliable crypto enthusiast and reading news
so you could be more firm to what coins you should be investing

This is the basic thing but executing this step would really be hard. Fundamentals together with technical analysis is the common way on how to trade up and profitability would be entirely depending on how a trader would execute its orders which anyone do have their own ways on doing it which means tactics would be different and also comes with intuition too which is a factor on making up decisions.

Buy the rumor, sell the news. So if your actions on the trademarket are based on news then you might get burned seriously. Did it a few times myself in the past, did not enjoy. I do look at charts in the sense that I won't go near coins that have been pumped recently as a subsequent drop is usually around the corner in that case. There's no technical analysis involved for me personally, its more like simply 'eye-balling' actions on the cryptomarket and only with (alt)coins that are more or less established.

A simple word you input on the search bar here would do.

This might help you to understand trading before you go to a full time trading. Most of the day trader are newbie and doesn't have enough experience and knowledge on how to trade well but through to this link (https://bitcointalk.org/index.php?topic=2842850.msg29159034#msg29159034), there is a simple guide that might help you to understand trading very well.

1.Buy Bitcoin, Ethereum, LTC and more cryptocurrencies, that are well established and hold them on long term.
2. Take small amount for day trading and try your own tactics.
3. Look around on ICO and try to get airdrops or buy with small amount.
4. Lend a little amount on Bitfinex or Poloniex.

News ( as well as rumors  ) can effectively affect altcoins prices , as a consequence, you can rely on while trading , but I think news can affect " massively" only small coins unlike stronger coins ( like BTC or Eth ) which show a resistance .

Looking at facts and data would surely boost your profits if you are quite adept on what you're doing. Stats and numbers don't lie (except for some Chinese exchanges that posts fake trading volume on their exchange lol) and it can surely help you understand the market's situation without anyone else telling you. If you don't have enough time to study charts and only looking at cryptotrading as a part-time activity, you can join into some telegram groups and wait any signals that may come from the leaders of the said group. However, be warned though that when these people release their signal, it could be that they're already invested deep into a certain coin and would only urge people to join the hype for them to dump after.