You can start learning from YouTube, Medium, BitcoinTalk amd Twitter.
Start basics of Trading From YouTube their are lots of channels in YouTube that help you to How to trade in cryptomarket CryptoCred, CoinBureau and Tradesocialogy etc
In Twitter you can follow big name in the cryptomarket like BitconTrapper, Cryptowhale, BloodgodBTC,EmperiorBTC. CryptoNewton, and many more...
BloodGodbtc and Emperior has medium where they publish all their article and crypto related stuff
Learn and analyze their trades, and started trading with minimum account of money for practice
Following big names is good but it is still no guarantee for profit or successful trades and just like you also agreed and suggested learning and analysing trades, this is the best advise for any new trader because you want to learn but not to copy trade from big names because after all you want learn the ropes of the trading. . So staying with practice is the only guarantee and hope for success. |
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So what would be the right strategy of Diversifying Crypto Portfolio...
Diversification is good because if done at the right time, in due time you get the benefit. The way to invest and diversify is when there is bear season. Buying low is the best time to diversify and wait to sell high. There are speculation that after bitcoin bull , the bull for altcoins will come so maybe investing this time to sell immediately the altcoins begin or waiting for next year bear to buy and hodl for the next bitcoin halving. |
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These problems are basics of trading, you dump when the market rise and you buy when the market dumps. That is if you have belief in your asset and that is very easy for bitcoin compared to any altcoin or any fiat stock for instance - Bitcoin is not going bankrupt anytime.
But choosing when you exit is an important step too. You should reduce how much you are going FOMO, not buy when others are buying and exit at the top or near-top.
This is not difficult, you need some practice to keep emotions under control and in a few months you get the hang of it - if you dont, then trading is probably not for you. Not everybody has the mindset for trading and you should not blame yourself for it.
This is exactly the point about the analysis of the thread topic, leaving when the ovation is loudest and it takes practice to understand that there is ovation and that it is loudest. If you have a trading pattern that helps or shows you tops and lows then you have a good trading pattern because exiting time and entering times are important. If a trader don't understand those, the traders profit will keep getting eaten up. |
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It will make more easier for them in my opinion because the name of such tokens are CBDC means Central bank has the complete control and completely digitized money so they can print money simply and liquidate them into the people via banks but CBDC isn't supported by the most of the governments yet and I hope they won't because it will result into uncontrollable inflation rate at the time of economic crisis.
It is not that factual to say that CBDC will lead to uncontrollable inflation. That can happen because the government don't really keep checks on what they should do or what they need to do. Even fiat should lead to uncontrollable inflation if the government knows exactly how to go about controlling it so likewise the challenges of fiat may happen to CBDC and not just because it is digital currency then it is bad and will be facing uncontrollable inflation, the challenge is with government that don't do proper diligent work on her agencies in charge of different duties. |
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What i like when it comes swing trading is you can literally prevent losses from any scenario especially false break out and FOMO. because every time when the growth rate starting to change direction you can immediately sell and you can buy back from the price where it will gonna make a swing. a very safe way or the best strategy for trading.. Unlike other strategies that you will rely on the whole day process wherein no matter what happen at least you have stop loss.. Lol actually it depends on traders plan but i believe that's the common way of the most especially when it comes day traders..  Whichever strategy plan a trader use, it can lose if it is a wrong decision. For example a swing in the wrong trend is a sure way to lose it doesn't matter anything if you get it wrong. A day trader even has a chance to reduce the lose because it is a shorter trade that you the possibility of losing faster than swing that delays for you to confirm lose because it takes longer time and the direction is possible to confuse you. |
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Have you heard of Fibonacci?
You must try it on your charts to understand where will the market be heading, because knowing major levels of support and resistance will literally help you out in finding out whether a correction is near or the market is going to take a rebound. And keep note of things side by side as to what's happening outside markets but relates to the crypto you're invested in, so that will also help you predict it in a much better way.
From my experience with Fibonacci retracement , it is not a trend finder. Fibonacci is just like any other indicator that can be overwhelmed by market rush. Fibonacci is an indicator that you can set to your taste of trading strategy so I consider it as an indicator that can be manipulated or lagging behind the market price. I used it but it is not a trend finder, just one of the indicators that the market volatility will easily beat the set to confuse you. |
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daily is difficult mate wherein its like a gamble especially if you don't have enough knowledge in trading ..
It is not difficult it just depends on the strategy that you have learnt. With trading daily you can make daily income as op is asking for what to get running on, daily trading will be better for him because he may not have the patient for swing trade Dear All... I will try to search on youtube also for reference.
That will be a nice step for you. Avoid pay group if you are not sure of it but trying with practice account or demo account will be nice to build your confidence and emotion too. |
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The uncertainty and price change are the same thing and every good trader bears that to mind. It is just like you climbing to a mountain if you loose your grip you see yourself on the foot of the mountain. This is the reason that stoploss is important to trade with. So one important way to escape the uncertainty effect on the account is to trade with stoploss.
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It is good that you have realised early enough to leave bounty and airdrop jagons and try to find a better life for yourself but you need to also grow in passion for trading because it is not just where you will make fast, easy or quick money. Regarding to channel for trading. I don't use any channel because it is not a sure way for good trading. You can learn from watching YouTube videos, research with google and stay on this board and ask questions.
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Btc price sideways move not what traders want.
Trading should and must work only one way one direction.
Short or LONG
Perhaps something for SEC to deal with the finance regulaters want to regulate...well here thing they can regulate now need to stop sideways moves on the markets.
No price is not moving one way or sideways because traders are still making profit all that matters is spotting your order. The market is still buying and selling as demand and supply is operating. Orders for buy and sell are still pending despite the correction after two days. SEC or no Sec regulation can't change market direction to be stable because the regulation can't stop demand and supply or volatility. When you make order for buy at same time another trader is selling to you. If the market is in sideways we still identify waves which is certainly the changes in price. |
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I woke up this morning and had a premonition I logged on to Coinbase and check the rate to convert from Bitcoin to tether or USDC. It turns out there is no fee, like when you buy Bitcoin from Fiat. This was my confusion. I thought every time you went from Bitcoin to any other money (be it fiat or crypto) you had to pay the fee of what would end up being something like $10 per $1,000. I didn't know, and now I understand better what stable coins are for. You trade from Bitcoin, when you think it's going to go down, to a stable coin and then back to Bitcoin from tether or whatever stable coin when you think it's going to go up. And you don't have to pay the fees because you're not buying in from Fiat.
Yes there is no fee charge in such. That is not considered as transaction yet but conversion that you have just made to keep your coin stable or pegged with the dollar at a point until a certain time you want to unpeg it or reconvert it back to cryptocurrency. Also it is the same with binance. When converting your coins to USDT, there is no charge on it. Nowadays, you can trade crypto with pretty much any CFD broker. Have you tried?
OK.. they might not offer many cryptocurrencies but still a decent start.
I think brokers added bitcoin against USD on their platform for now. Some of the altcoins added are yet to be active. At least I have seen a pair on ltc with USD but it is yet active for trade. |
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I am not a fan of day trading since I cannot keep monitoring the prices. I do take the updates every once in a while though.
I personally like swing trading where I just trade once and then keep waiting until the trend reverses.
This I get maximum profits with less risk and no active monitoring of prices.
Yes swing traders are longer time traders that are particular about the trend and few pairs too. This type of trading is stress free and can allow a trader more time for other activities and engagement. But sometimes a good day trader gets more profit in accumulation than the swinger but the swinger has more opportunity of hitting take profit because it reduces risk by decreasing stop loss possibility through the lot size. It just depends on the trading pattern either passive or seasonal. |
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Trading passively or seasonal depends on your trading strategy. Some people don't trade seasonal because they want to but they find themselves trading that way because of the strategy they are having. Like in forex trade, I have read traders that only trade on the first Friday of every month when the American unemployment rate is released and also Non-Farm Employment Change. They trade this and wait for another month. Also with cryptocurrency, it is not advisable to always be in the market because you will take unnecessary orders because of pressure of profiting.
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you can see the struggle to make it there, for couple of times bitcoin took 65,000 and almost 69,000 but failed to reach 70k.
so yes it is a hardest but once taken surely there will another ATH.
I think the struggle is still on and today everybody thought bitcoin won't recover after price dropped down to around $55,200 and 300 and that created fear, but later the price moved back to $57k and trading at $58k this evening. I think is a struggle to continue bull to resistance $70k.
Many put their stop loss at $1000. The stops got run and it went back up.
Yes to understand how to apply stop loss is another trading skill on its own. It is not all trader that understand how to apply it and that is why some avoid it. Sometimes you apply it below or above and get more losses. |
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This is already a year of the bull run because bitcoin reach a new ATH this year, it's just in the past few days that bitcoin price is dropping and it's not a big deal as we've witnessed this kind of correction in the past. This year also, we witness bitcoin's low but was able to recover easily, so a dump now should not be surprising as it could really happen despite in a bullish market.
Yes bitcoin dump happened in 2018 after the ATH but this time may not be the same. Now we have better believers than it was last 4 years. The instructions buying taking longer before they dump that means more coins will still be in the wallet of stronger hands, that will keep price a little steady until the next halving. This time won't be same with last time, dump may be just minor before correction and continuation. |
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Is this normal?
Can he not take the commission out of the ROI and then send me the rest?
This seem my concern and your mind is telling you something also. So why would you have a profit and the broker still want you to send money and not to deduct from your Return on your investment. It looks suspicious. What broker is that ? Always use a popular platform when dealing online. |
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I expect op to make some analysis and explanation about the chart because the chart represent his mind to where price is going and what may happen after reaching to the spot rather instead of dropping the link. Well I see a support of $56,252 on your chart and price has touched that support but went down to $55,606 few hours ago this morning, but has picked some rise to
$56,775. Is looking like it is not certain where to go from here being weekend, maybe the new week will determine trading area.
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Op I'm disputing the fact that you said trading is not meant for everybody, trading is for everyone who is cryptocurrency enthusiasm,
I think what op means is in different shades as for whether trading is not for everybody. Yes not everybody can bear losses and trading is about losses and profit. Some don't have patience and understanding trade you have to be patient. These categories can't trade because of the capacity they lack and if they continue to trade they will continue making losses. That is the aspect I understand what Op means.
and it only come like game of luck because of it's nature of profit, so everybody who are into cryptocurrency especially bitcoin can adventure into trade as well,
No not all categories of bitcoin or cryptocurrency ethusiast will trade. Some prefer to hodl because they can't trade. And trading isn't referred to as luck game like gambling because gambling is about luck, it is not analysis based but trading is based on chart and analysis. |
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@Mpamaegbu
Newbies like us do not like to hear loses cause it always pissed us off. Profits is what we always like to hear, maybe it keeps us going to the doom site. I'm relearning.
The earlier you hear about losses the better for you and other newbies because it will help you to learn the business of trading faster and cut off from losing your account often. If you know that losses is a nightmare then you can start reading, learning and looking for ways to stop losses or reducing it and your best option is to adopt the use of stop loss and taking of smaller risk and not being greedy. So it is important that you love the word loss in trading because you can't avoid it but if it comes few times, that is better. |
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My opinion for the traders is always that they should take the profit from the market and then leave at a site, but most of the people due to their greed losses their most of the money, I always suggest that whether your profit is small or great then it will give you more profit, as I had seen a lot of people doing mistake in following other strategies.
I was once greedy having refused to take profits appropriately which culminated to incurring losses, I learnt my lessons and mistake thus making me to become a better trader. I have learnt this also. Whenever there is a hype I expect that after sometime traders are going to cash out then I follow up with that too. When this happens the price can go down but it will recover but before it will recover may take sometime and that means delayed trade and stocked up cash, instead of waiting I consider to cash out to stay outside and wait for a time to go in. |
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