Bitcoin Forum

hey guys,
really interested in how full-time crypto traders work.

some questions
1) What sites do you visit?
2) How much time do you spend on trading?
3) What websites help you build your strategy?
4) What instruments do you need for a more precise analysis?
5) What is the biggest problem in trading for you?
6) What price trackers do you use?
7) if you have time, please describe your typical trading day :)

Thank you for participating!  

I use Binance and Bittrex


I do not know it's very difficult to estimate how much time i spend on trading?


I do not have a site that helps me to create strategy, but I follow the news frequently

Firstly I am not a full time trader but I can also give the answer for it as a part time trader.

I do trading on binance and bittrex. I am more comfortable with them to use on their Android platform and website platform.
I spend one or two hours everyday.
Binance one and only Binance.
I always use indicators MA and RSI to check the value and while trading.
Price fluctuation and early open trades.

Thanks a lot!
What news sources do you read?
And where do you check the prices?

Thanks for your answer!

Do you do some research before trading?
WHere do you check the crypto prices?

I'm not a full time trader, but I can try to answer some of your questions.

bitmex.com and kraken.com


I'm currently trading the 4h time frame. So I have to look at the charts every four hours for 5 minutes to see if I should enter a trade or exit a trade.

That's the benefit of higher time frames. If you trade the higher time frames, you have a lot more freedom and you don't have to be obsessed with the price all the time.


This guy:

http://nononsenseforex.com/

has changed the way I trade. I recommend taking the time to test his system.


Nothing much at the moment.


The huge bitmex wicks. Just kidding.

This is very helpful, thanks!
Could you please describe your trading day?

I'm kind of a researcher and I want to start trading in the future. I want to know what to expect from trading and how to get ready for it.

1. Binance
2. I can really estimate how much I spend but I guess it's too low as I'm not on a day trading strategy.
3. Sometimes on CMC but I am doing some TA on Binance too as I there UI on doing some TA out there.
5. I guess the biggest problem only I have is the unavailability of money to go on full trading.
6. Telegram channels has lot of price trackers, usually those is where I can easily get some price info of coins/tokens.

I'm not really into full time trading but hoping that those I inputted will help you get some knowledge.

I use Binance and Bitmex for higher volume trades, whereas I go for Mercatox (yes, I use it too) for low volume trades but still make some money (sometimes the amount is very good that I make there).


I only look for margin trades as that's what scares me when active already. Other trades like alts are left till they reach their targets or hit a stop.


I don't follow any as I believe in myself. ;)


Finding best entry/exit points.


Berminal & Blockfolio.

1. I use Binance for the most part. Sometimes bittrex for altcoin trading.
2. Depends on what time of the month it is. Usually I don't go about spending or using $1000 of my bankroll but when the whole market is active, it can exceed more than that.
3. Tradingview
4. I'm not sure what exactly, but my trading exploits somewhat proved to be profitable already.
5. Time constraints against the whole world.
6. I don't really use one exclusively.
7. Just another day in front of my PC, trying to make money just like the rest of my co-traders.

I only use 2 exchanges in trading, namely binance and indodax. Actually I have not been proficient in trading, I do not dare to invest too much money, because I realize I am not smart. At the beginning I wanted to buy a coin, I saw the volume of the coin first. Then I bought a price below the market, I divided it into several pairs of prices.

I agree we cannot be smart enough at the beginning of trading specially by doing it all alone without any friends guiding you. Buying a coins isn't just you have desires to buy it just because you loved it's name. First and foremost, community upbringing for the coin price was the most important to look upon. Trading day can be done anytime of the day, don't find it as a pressure because trading is always flexible.

1) What sites do you visit?

    - I used Kucoin, Idax, Coinbene, Houbi, Bitrabbit and Okex

2) How much time do you spend on trading?

    - I spent 4 to 6 hours a day

3) What websites help you build your strategy?

    - I think that website was Kucoin

4) What instruments do you lack for a more precise analysis?

    - I don't any of it just all what I did was simple buy low and sell high

5) What is the biggest problem in trading for you?

    - So far I know what I'm doing in trading, meaning I am prepared for the
      consequences.
6) What price trackers do you use?
 
    - Nope I'm not using any price trackers

7) if you have time, please describe your typical trading day :)

   - Every morning when I wake up I turn on my pc then checking my coins in the exchange on which
     I set them to sell if it sold or not.

1. I visit Binance, Bittrex, Poloniex, Kucoin, HitBTC, and some other exchanges site.
2. I am trading in a different time in a day, and if it is necessary, I can trade in more than 2 hours because I can see an opportunity at the market so I can make more profit.
3. Only coinmarketcap to check and then I will always visit the exchanges directly so I can know what is happening in the market.
4. I don't use too many analysis. I only try to buy low and sell high like the others. But I always check on the market before I traded.
5. The biggest problem in trading for me is when the dumping price happens because sometimes, I am not in front of my computer, so I miss the chance to sell at a high price.
6. Price trackers? If you mean TabTraders, then yes, I use that app to help me to determine the buy and sell price.
7. I don't trade in daily because I don't know if I can spend my time to trade, but I still try to trade in weekly.

Binance and other local trading platform.


I think I can spend max 4 hours on my trading activities.


A lot, but I mostly used tradingview and see what other analyst are saying.


https://cryptowat.ch/


Nothing unusual though, I'll go and trade in the morning with coffee, read the news around login put some trades, go on my offline business, sit on the table again watch the trend read more news continue trading (if time permits).

As a researcher like you have mentioned, you can have an insight of what can you expect from trading with lots of various guides, advice, recommendations etc. on the internet. Lots of resources already available out there if the purpose is only about preparations of doing trades.

About self-experience, I don't really understand what you meant behind "what's our trading day". Do you mean the literal time of the day? No, it's not how trades work. You will deal with the volatility here so anytime will do. Even for let's say you want to trade in the morning, if the price movement is not yet favored according to your own criteria then that's it. You will still come again, later on, to check unless you are on HODL status (hold)..

If you pointing about day trades, then you will likely have to watch closely your trades regularly as you need to execute your strategy on a shorter timeframe.

1) bitcointalk, cryptowat.ch, tradingview, twitter.
2) accounting for charting and dealing with recordkeeping/taxes, i'd say ~10 hours a week.
3) too much to list here. a good place to start is babypips.
4) i'm not sure what you mean.
5) controlling emotions. occasionally fomo'ing.
6) cryptowat.ch, tradingview.
7) check the charts, adjust stops, wait. it's good to have other things to do so i'm not hyper focusing on the chart. a watched pot never boils!

I only visit few sites because I prevent myself from being victim of phishing sites,I only often visit CoinMarketCap,Etherdelta,Porkdelta,Bittrex,And Codex
Way back when I am still trading,i spent at least 4-6 hours a day
Not in some sites but from the groups from telegram and Facebook,and from PMs from various good traders
Of course when the market suddenly flows down without my notice specially when I am busy at work
For me?it is weekdays when the traders are not totally in focus because of being busy in their real life activities

Thank you for your answer, this will help me!
Can you recommend some telegram channels?

Thanks!
Could you tell me what helps you find best entry/exit points? Gut feeling?
You're a full-time trader, right?

Thanks a bunch!
some more questions:
1) could you specify the price trackers you use?
2) do you use any social media?

Thanks for sharing!
Do you read any news or use social media to get more insights before starting to trade?

Thank you so much.
So you keep track of the prices on a particular exchange?

Thanks a lot, your answers made it clear!
5. Would you be interested in alerts then? A feature that will notify you if a price for a specific coin goes up and down?
6. yeah I mean price trackers like cmc, coin360 or sth
7. One more question: do you make living by trading? or you have a job?

Great! thank you so much, no further questions ;)

I conducted research and there were some questions left, so I asked you guys, coz I know BT community would help.

Yeah I meant the typical day of a trader. Like you wake up, check up your assets right in your bed, make coffee, go to work, do some trades there etc

Thanks for your response!

As for instruments, sometimes you visit the site you use daily and feel like there's something that would make any process easier.
For example, you want to see more filters on a price tracker, alerts on an exchange when a price is up or down

Thanks for your answer!
Why do traders check price on cmc you can check it on an exchange where you trade?

Normally, I wake up and check the prices right away, that is the number one priority almost all the time because that is the most important info you will have about trading, the prices.

Obviously, after that I read the news sites regarding crypto like ccn and what not and see if anything major happened, that is important too because if there is a big news but no movement that means something else and if there is no news and big movement that means something else too.

After that I talk on telegram channels with people and what they feel and what not to see what market is thinking because lets be honest this is a market where people purely speculate the price and make it worth that much. Only after that I check couple of people on trading view and see what they think and then act on it, 99% of the time I don't do any movements and keep my position, but rarely something big happens and I react to it.

It's not gut feeling, but I mostly go for Price Action trades with just Fibonacci placed on the charts for help with better support and resistance levels where I also try to find a pivot point when I place it on larger time frames (it can't be the entry though, but a rare possibility of BTC going there back at least once in a lifetime - that's what I believe).

I don't trade full-time as it doesn't suit my appetite, it's all based on my mood and most significantly, the money that I'm going to roll in into this. ;)

I like binance.

3-5 Hour per day.

maybe like https://www.tradingview.com help for analysis.

I think the biggest problem Think of getting more profits in a short period of time.

wow, thanks for the insights!
do you check prices on coinmarketcap or something in the morning? or you go straight to the exchange where you trade?

[1] Local Exchange (Indodax) other exchange Binance/Kucoin.
[2] Only a few mins/hours (30-60 mins / 1 Hours - 2 Hours).
[3] I'm not using a site and not a technical analysis, I'm fundamental analysis so basically, i will find random site information about the new project.
[4] Get a good rumor/news. ;D
[5] Emotion, Psychology, Financial Money.
[6] Coinmarketcap.
[7] Fundamental & Medium/Long Holder or Trader.

1. I prefer binance, bittrex and sometimes Kucoin.
2. It is not certain, on average 10 hours is sometimes also lacking.
3. several news sites as fundamental analysis
4. I will not do the OP before I am absolutely sure,
5. There is FUD and manipulation because this can disrupt the market

Thanks!
Where do you get rumors? ;D any particular channel?

binance is the site I visited
for maybe 8-9 hours a day to monitor prices
the biggest problem is when in daily trading the price has no increase and remains stagnant in a downward position. this becomes a big problem that must be prepared for traders is patience waiting for prices to rise.

Sometimes from a channel, cryptocurrency calendar news or my friend share the rumor for my group. The rumor always make a good fomo, went the rumor become news that the time you are selling.

1. indodax
2.1-2 hours and two day a week
3.twitter news and steemit news
5. miss calculation on market
im not full day trading tho

Thank you! Would be nice if you share an ordinary day of trader  :)

Generally binance bitrex and poloniex is my favorite exchange but I visit other exchange too when needed.

At this point I am out trade. Just visit sometime for tracking price movement.
Basically I learn from here and sometime try to google and youtube to solve my problems.
Instrument? I visit sometime tradingview website for analysis.
emotion.
coinmarketcap and portfolio android app.
Nothing to describe at this moment just want to don't be greedy,panic and emotional. then you will success.

Thank you for your answer.
have you ever tried COIN360 instead of coinmarketcap?

I started my day by visiting https://coinmarketcap.com and reviews by myself the coins that I usually trade. From there I visit binance and poloniex to see the market close of yesterday and that enables me to know the sentiment of today. However, I don't base my trading on signal providers or joined a trading or trading room on Twitter or Telegram but analyze the coins I wanted to trade using my own indicators and information I was able to gathered from coinmarketcap.com about those coins and it has been helpful to me in this. I decided to depend on my personal analysis because of my experience in forex and how I keep spending money for signal and latest indicators.

Currently, I choose Binance as an exchange platform to perform trading every day. And I use the Coinmarketcap website to check the total amount of Altcoin transactions I have. If the total trade falls, it means that the price will fall and I will sell it. Wait until everything becomes stable. I will repurchase it. Everyone has their own tactics and skills to determine Altcoin's trend.

1) I often visit CMC and some news sites about crypto. Besides, I often follow the Twitter news of crypto businesses.
2) I usually spend 4 - 6 hours for trading.
3) I do not use any trading signal tool.
4) knowledge of price charts and how to analyze the value of a business.
5) psychology and discipline.
6) I don't.
7) I only participated in the transaction for 4 months and I need to learn more. I don't have many good deals to share for you now. :'(

Traders is usually trade to the bittrex and of course the Binance the favorite exchanger of the players as of now . You can trade started trade to Binance just like us.

I visited to the CMC everyday now to check the price of the coins that I bought or in my list to see any details that I need to know.

I do tradimg more hours now because the market now is doing great so it better to spend more time with trading to check the price regularly.

I use different types of exchanges to exchange my cryptocurrency in some tense it will be profitable and in some times it will be e same how much I invested so I think the time will not been important but how you can do the trading is the matter of success.

I do not think that all days are alike. It depends on whether I have a lot of work on my main job or not. However, there is one site, which I open first when I get up. It is the Coin Market Cap, which gives the picture of the market.

it is true that you can do trading on any day, but you have to know that trading has the right time to buy and sell coins, you can see cases of rising bitcoin prices lately, this is very suitable for attracting profits, because when rising is the right time to make a profit withdrawal and when the price falls you can buy as much as you can.

to do daily trading, of course we analyze a smaller time frame. so you can take advantage of the small trends that are happening that day. indeed in this way it can collect a lot of profits, but the risks faced are also greater

1.Some p2p sites and exchanges which got high volume
2.Few minutes in average per day.
3.Not good at technical aalysis si just stick with fundamental strategy.
4.Yourself.
5.Volatility is the problem as well as gift.

1.   I mostly use Binance too, because of their very low trading fee and the fastness in executing my order.
2.   Would I say I spend 10 hours in a day? Because not all the 10 hours are completely used for the trading, but
      my eyes are completely focused on my indicator.
3.   For me, it would still be Coinmarketcap, Binance and Bittrex while application is blockfolio.
4.   I do not think I have any because experts have already built all the necessary tools to cover this area,
      although there are always new things which a releft for me to explore.
5.   The biggest problem for me has always been how to read indicators.
6.   Tradeview, CMC, blockfolio and Luno.
7.   I trade every day except Saturdays and Sundays.

I am not your full time trader because I think I don't have the complete confidence to enter into trading completely but I spend some times to learn about the trading field and do little trading also for me it changes from cryptocurrency to normal currency and also normal currency to the cryptocurrency is my trading experience.

You mean trading platform? =Binance

Depends yet I do have short and long positions.
New sites and trading simulators.
Basic technical tools and stuff.
Unpredictable market.
Tradingview
Random basis,if I do see an opportunity I do easily dive in.

First is this website BTT forum, then bitmex, binance, coins.ph
Everyday, I see to it I am tracking my trading like 20mins for 3-5times a day. Depending if I have entered an entry in trading.
This forum helps me a lot, I've learnt a lot here especially in trading and other trading strategies. If there is a vague terms, google and youtube is easy to access.

I am following news about price speculations and been using my own technical analysis.

With 5,6 and 7 questions.
The most problem I have encountered is being liquidated in my margin trading. I haven't set my stop loss before since I don't know yet how to set it up. But that makes me to learn my mistakes. I don't have price trackers or a signal group in other terms, I just trade by using some of my indicators or technical analysis.

I'm a kind of person that likes to try every exchange lol, so I have created an account with Coinbase, Binance, Bitfinex, Bittrex and Kraken. I also created an account on Cryptopia but I never made used of the exchange, created an account cause I saw someone mention that they are good, so I decided to create an account there which I never used till now, maybe one day I would try them out. Coinbase was what I started with but along the way I stopped making use of their website and switched to Binance, and it has been my number one till now and they also have a mobile app as well. I hardly use Bitfinex, Bittrex and Kraken. I am not a full time trader, I only trade when I have the time, but I'm always on my phone doing research and whenever I think it's the right time to place a winning trade, I never miss it.

before a trading I clarified all the things in all type of websites because after the trading we don't have the opportunity to verify that that's why I spend lots of time every time when I trading and also if some problems is always happening in some time definitely get out from that.