Bitcoin Forum

How do you trade?Use a wallet to trade or use leverage to trade

I personally don't know how to read charts, I just lurk into some channels and watch their calls. Once I spot a token or coin to buy, I buy it, set a stop-loss limit normally at -3% of the current price then I forget it. I will just check once a day what happened, if that token went up I sell when I'm satisfied with the price, if not and my stop loss is still at play, i let it run another day.

First i dont understand what do you mean.do you want to learn how to trade or how to keep coins safe?trade and wallet are different things.about trade, if you are new, first step has to be learn support and resistance.then you can learn others.

So technically, you're into signals, had you gain any decent amount? I always see that as waste of money and I had a friend that left upon following the signal and just lost his money. I mean only those in upper position always reap the profit.

Don't complicate things, just use wallet to trade anyway and besides leverage is risky for beginners.

Good luck with that it is better to learn it on your own rather than to depend on a signal group.
You are risking your own money just because some strangers told you to buy the coin?
That's hilarious I hope you wouldn't regret it on the future.
And for OP it is better to start with the basics rather than jumping to the complicated strategy .

leverage is your friend if you have a small trading capital, but never go to high in levereage even 10x is enough to blast through your capital and ruin you. go small like 2x or 3x and you can make some nice profit.

You should not really depend on signals, most of them are just created to benefit themselves and scam. You should make an effort to learn how to read charts and do technical analysis. What you are doing is risky, you are just leaving your trade with a stop-loss limit and get back to it the next day and see if you like the current price.

Leverage is the riskiest trading tactics, and it can potentially be profitable if you are not putting big money at your best, as otherwise the exchange will drop the price or pump the price and grab your money. Regular trading is better if you have big stake. And it's safer to keep your coins off exchanges.

Actually what you do is the same as gambling. You must really understand the reason for the trading signal being made.
If you don't understand it, it's the same as throwing your money away. You better buy other items that are more useful for your life.

Exactly, we have to be wise and risk taker in trading, because if we penetrate in this field we have to take the risk and accept the possible conclusion. I preferably trade when the market phase has shown good opportunity to deal off and it is sbout our own statistic on creating sensible strategies.

I trade with a goal that is set. Being a trader must have a goal amount that could satisfy you. Because sometimes emotion comes when you have no goal and you could become greedy which could lead you to end up having a loss. I was an emotional trader and had no goal that is why I lost too big.

do you mean to trade where and what wallet to use to keep coins from trading? if this is what you mean I trade in several large exchanges that seem convincing like binance and I save in an offline wallet like nano ledger for safer storage.

What exactly you mean?

Please clarify that are you asking about trading at the binance kind of site or localbitcoins kind of site on fiat cash pairs. Please explain it correctly.

Yes, it is indeed very regrettable for what is done, indeed it is not an active trader, but I think everyone is very capable of making their own analysis with a little basic understanding in trading because being used to and becoming something that will be liked if you are successful, don't depend too much others and other people can also do everything.

It is leverage of course.
It is like it is built for those who have small capital.

Once I used idex also just trading my bounty toke  and yes it did work.
But that was before.
Now every token listed dex or not are getting a lower value once listed.
It is hard to make profits out of that. Better just do it with old coins which already have a value and still fluctuating.

i usually trading using a signal from telegram channel that i follow and from that i earn around 10%~30%
but as you know that the signal usually that not correct sometimes i lost around 5~10%

I've always used wallet in trading, I don't know that it can also use leverage, but I don't know what is that, can someone here tell me what's the difference between trading using wallet and leverage?

I think the normal trading will be known by the people mostly and this type of leverage trading will not been guide by anyone for most of the people but both are profitable and if you know the proper way to find the perfect profit by using your experience only you can live and survive with lots of profit for the future.

So I would at first suggest you not to follow any others method.
It's always safe to follow what your heart says to do so.
And there is no perfect method that gonna work.
And if you want to trade then just choose the best exchange and the choose the best coin accordingly.
This is my way of trading.
Wish you get more profits in future and Best of luck.

These two doesn’t even relate to me, the last one mentioned is just a tool in our trading platform that gives us more benefit over our trade while wallet is where you keep your coins. The simple rule of trade is just to buy low and sell high, and the time interval you wish to do this depends on your own decision, strategy and market condition.

To successful start buying low and selling high, you have to go through some trading platforms where you can see the pairs you wishes to trade and that can be through an exchange like Binance or a forex broker that trade cryptocurrency. So what you have said is not clear enough to me.

I guess OP has confused to ask about what he wants to know.

How do you trade? Buying low and selling high, that is the key.

Perhaps, he means about Mycelium wallet since I read on the other thread that saying with Mycelium, we can buy and sell bitcoin with any sellers available on the Mycelium market.

And related to the leveraged trade, I didn't make that trade for a long time ago, and now, I am trying with using usual trading in the binance, bittrex, poloniex and others.