You are all right but there is something that is main reason for that. All alts fallow bitcoin mainy couse economic reason. Its pure math. Let me explain Now 90% of any altcoin volume is made in pair alt/btc and only 10% in fiat/alt. When in 90% altcoin is traded by bitcoin than bitoin drop have to make price drop of altcoin. Why? Beacuse calculated price (btc value x altcoin value in bitcoins) is getting lower and lower beacuse btc value is getting lower. Big USD market is making it more independent from bitcoin move, becuse arbitrage bots buys cheep bitcoin, cheep alft from it and sells it on usd market. So if its big enought it can cover bitcoin drop making alt/btc price higher. Thats why etherum is more independent. It has big fiat market with great volume. But still not high enough. How it looks like now (90% of altcoin volume in btc pair)? 1-Bitcoin price drop. 2-calculated altcoin price $ drop 3-arbitrage bots buys altcoins for btc and sell on usd market making drop there (because its not big enought and loosing with alt/btc market) - without pushing alt/btc price higher beacuse usd market is too small to do that. 4-people seeing price drop are selling to btc and then fiat or hold bitcoin what decrise alt/btc value what even more push price lower and make more investors sell. Thats why its so mechanical. Bitcoin drops and in the same second altcoin price drops. Bitcoin Price $ drop->Arbitrage bots->alt price $ drop->stoplos/trading bots leaves >alt/btc&$ price drop->investors sells->alt/btc&$ price drop-> next stoplos etc. thats how it looks. When it would be coues by investors decisions only ("ok ill sell becouse bitcoin - main currency- is droping") it wont be that fast i think. Thats why when bitcoin drop 30% altcoins mostly drop 50% It will also be possible when altcoins will have their reallife massured value. That will work like bigger usd market. TL:DR Simply put, alt gains aren't an indication of more money moving into the market (at least right now), gains are pumped and lost because money is simply being moved around from one position to the next and not indicative of growth.
Agreed  Money are pumped into cryptocurrencies mostly by bitcoin. So if any alt drops it only changes hands (someone who has bitcoin now has alt and someone who has alt now has bitcoin - amount of fiat pumped into market is still the same). When bitcoin drops it means that someone pulled money from whole market. |
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I would never recommend anybody to trade against a trend. I know that there is a strategy which are applicable to trade against a main trend but it is a very difficult strategy and to use it you need to be a skilled trader.
I have focused my trading strategy on investing in a long term main trend without catching retracements and playing versus main trend.
Yes your writing and advise is very nice. Trading against the trend is called negative trade. How can someone be comfortable to trade against the market. I only hear that in the swimming terms for those in "diving school as swimming against the waves"  . In the crypto market, this is as risky as not doing the right thing at the right time; although, I hear people do that but I wouldn't. Its ok for short term trades. When you are daytrading. Catch when something is oversold and sell when it rebounce few % in next 10 min. Its interesting strategy becouse in best scenario you can catch bottom of the downtrend before it change to uptrend. I mean exact bottom. Its cool. Sometimes happend but mostly i sell as alwais with few% and watch how my sold alt is growing Catching is one thing and changing thinking to bull in the same moment is second step in this best scenario. |
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Hi
This maybe a bit of an newbie question but I was just wondering how easy it is to trade an alt or shit coin against the USD
and also on Kucoin exchange
lets say you bought a coin and it was worth $0.005 and it goes up to $0.01 thats double the USD price but if the BTC price isnt reflective of it can I get back the value of the coin in USD valuation or UST or whats the best way to do so
As new to market you might not know that all altcoins USD price depends on bitcoin. Altcoins are for me only multiples of bitcoin price. I mean that if bitcoin drops 20% altcoin will drop 20% x multiplier. Multiplier depends on current news in altcoin, quality of altcoin etc. Its becouse they are in 90% paired with bitcoin. When bitcoin price is going down usd market of alt is not stron enought to hold price (calculated price throught bitcoin is going down and arbitrage bots are pulling down usd/alt pairs this makes invesors to sell and it also pulls down btc/alt price). Thats why its hard to predict USD/ALT price. When you are trading ALT/BTC you need to predict multiplier. When you are trading USD/ALT you need to predict multiplier and bitcoin future price. When you believe in future of bitcoin my suggestion is to invest in bitcoin and trading alt/btc trying to incrise its amount. If you are investing long/middle term its not a problem to jump throught BTC. Its 1 more trade and you are done (USD/BTC/ALT -> ALT/BTC/USD) and can forget that you didn't buy for USD. Its more a problem for daytrading. But to daytrade you need stable exchange. I dont think that kucoin is stable enought. Binance is very sharp. When i make offer its on market in less than second. Kucoin was not that sharp when i was using it few months ago. |
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I spent a lot of effort on learning about trade. I have also experienced many psychological feelings, ups and downs, so I would like to share from the bottom of my heart some tips for beginners or amateur traders:
1. Trade only 1 pair of currency: usdt and altcoin
2. Invest in good altcoins only (1-5 crypto), focus will bring about higher chance of winning. Treat btc as an altcoin and make a speculation with it. Learn how to identify a good crypto in order to hold the coin whenever the storms come.
3. BUY ON RED- SELL ON GREEN. Spend only one third of your money on trading long down waves. Two-thirds of the money should be allocated in the downtrend cycle of this market.
3. Prepare yourself for the great crisis that may happen during 2019-2021. Before that time, you should be flexible to convert your money flow from cash, real estate to gold and valuable assets. During the crisis, we can hold diamond at junk price (for crypto and securities) and buy good real estate at low prices.
My biggest mistake with which i still have problem is beeing more affreid not to earn than to loose. I mean than im more scared of miss good oportunity than do a waste trade. Thats why too often i take too big risk. Thats my sick nature with which im fighting each day saying to myself "Wrong invested money earns less than not invested." It is important to be calm. There will be dozens of opportunities. Even if we miss 50% pump or sell with 5% istead of 30% profit its still profit. Also after 1 red day there can be few next. Grabing coins after first red day with high capital is not the best option. |
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this is the problem that i have also experienced. all the decentralized exchanges that i have seen are too complicated and not-user-friendly. there is also a certain level of slowness to them in my experience which doesn't yet compete with the centralized ones where you can make buys and sells in matter of seconds (of course only when there is not a big load on their servers and they are not going down!)
And its not gonna change fast. All your moves on decentralized exchange must be confirmed by blockchain. It cost money and time. |
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Decentralized exchangers suggest much better price and even for dollar/euro exchange to my national fiat I prefer to use them. Almost everyone in my place go to decentralized exchangers when there is a need, I do not know anyone who would exchange money in a bank here.
What a nonsense. Did you buy account? You have 500 merit and you dont know whats the difference between centralized exchange (like binance, huobi, kukoin etc.) decentralized (etherdelta, forkdelta, ddex, idex) and bank. Name 1 decentralized exchange that support fiat... Decentralized exchange is not centralized exchange with decentralized coins... Dectralized exchange has very little volume what gives huge spread. To buy with good price you need to w8 for days or buy with market price 5-20% higher than on other exchanges. You buy coins there when they are not listed on centralized one or you dont trust those who lists coin you want to buy. |
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Dcentralized exchange that are based on smart contract are very safe! Smart contract can not be changed which means the moment you execute a trade there is no turning back or manipulation. Your address lock your trade and it is impossible for your trade to reverse!
Yes they are safe. Your funds are on your wallet or on your wallet in contract. There is 1 option that you can loose it. Correct me if i'm wrong. When decentralized exchange is hacked code written in contract can be different (instead of exchange funds will be transfer funds to hacker accout). And if you are not able to check if code written in contract is correct than you are not safe. |
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I'd like to share with you my idea how to decrise your transaction fees on binance to 0.03%. Ive done it weeks ago and it still works for me. First of all binance is now theone of the biggest cryptocurrency exchange with very low fee which is initially 0.1%. For investors its unnoticeable but for daytraders it is. In this post i'll show you how to decrise it by 60% or even 70%. Decrising fee by 50% to 0,05% I think almost every binance user knows it. When you have BNB (biance coin) your fee is decrised by 50% to 0,05% So all you have to do is buy small amout of BNB (whitch is by the way good investment). Smallest transaction on binance is 0.001 BTC ~ 10$ ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- EDIT:
Following content is vailating binance rules. I did not notice it. Thanks to SFR10 for correcting me. Binance will check for duplicate or fake accounts and will not pay out referral bonuses on these accounts. Duplicate or shared finances will result in disqualification. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Decrising fee by another 10% to 0,04%To do this you will have to take advantage of their referral program:  Just create another account using referral link from your current account. Than transfer all your cryptocurrencies to new account and use it as your main now. 20% form your fees will go to your old account, where they will accumulate. - after few weeks of trading i just withdraw more than 100$ - which is not a gamechanger but its more than 1/10 of average salary in my Country only by reducing fees. Decrising fee by another 10% to 0,03%This one is only for high volume traders. Becouse you need to hodl at least 500BNB which is ~8000$ (i highly dont recomend invest that much if you dont believe in future of BNB - personally i do) on your wallet. This will allow you to take advantege from secon binance bonus: "The commission you receive from the referral program will initially be set at a rate of 20%. For accounts holding 500BNB or more, this rate will increase to 40%." Last think I want to say is warning you about withdrawal fees. They don't depends on how much you want to withdraw. So to save your money its better to sell all your currencies and do one big transfert to your new account. Here you can check all withdrawal fees. https://www.binance.com/fees.html . As you can see NEO is free |
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TA was made to calculate emotions of average investor. I mean that we are not special. Most of investors buy when price goes up and sell
How do you calculate emotions? I don't think emotion is even a factor to consider in technical analysis. I think you should have used the word pattern instead of emotion. To come up with a good technical analysis you need to use tools like RSI, MACD, Aroon Indicator and more. This tools uses statistics, trends, patterns based on the trading volume and also price movement. Its not about calculating emotions. Its about calculating data. For example If most of investors have full panties and sell when price drops and you can observe that price is slowly going down and then accelerates then you know that investors are "panic selling". Now if in most situations that happend when price is crossing 100 day average - than you have first TA statemant - sell when price is crossing 100 day average. Now people are selling when it cross 100 day average becouse TA is telling it them. But beafore TA was made they was selling becouse they had full panties. By observing this data and charts full panties indicator was made and called "sell when crossing 100day average"(<1920 situation. Not current! ) Investor caused by his emotions make transactions what change price and volumen what gives data to technical analysis. I didnt say that TA is based by someones relationship with his mum.
If a trader Buys or Sell based on emotions then that is not technical analysis, they are trading based on chances and luck. Those who uses emotions in trading are more likely to lose money. Example is when a coin is being pumped, if you use your emotion, most likely you will Buy (FOMO), but if you use TA, like RSI or Bollinger Bands, you will have an idea where the price is trending, if its about to go down or up based on TA that uses statistics, trends and averaging. Talking about emotions im talking about how TA was developed in 16-18 century. Taking data from invesotrs who invest when TA was not developed. Not how it dont work by crypto pump and dump actions. I also didnt write nowhere that u should use emotions together with TA. I write that when there was no TA it was developed by price and volumen change caused by transactions made by investors. And current investor is totaly different that the investor who gives data to TA. Market is a place where we have winers and loosers. Saying that MACD RSI BOLYNGER will make you alwais win leads us to no loose. Its all about that in 1920 when noone knows what TA is someone invented methods to be better than others. Calculated by observing chart that invesotrs are more often shitting panties and sells when ... Now when average investor is trading bot who knows TA better than others and use it faster than others, dont gamble than playing this game manualy will alwais make you piggybank for bots. Only being better gives money. In this topic i just want to say that TA was made to be better than 1920 investor. But there is no 1920 investors now. There are 2018 investors. Full of trading bots, TA lovers, whales, market and transactions looks totaly diferent. It means that Data from which TA was made is different now. We are not fighting against 1920 investor to use wepon developed to fight against him.
For me, Technical analysis still works. But in needs a little support from your experience and psychological thinking about cryptocurrencies.
And that was my mistake making this post. I should use "investors psychology" instead of "emotions". English is not my native language. Thats why i sometimes use wrong word. |
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How TA works then?
TA was made to calculate emotions of average investor. I mean that we are not special. Most of investors buy when price goes up and sell when it goes down (mostly). It was calculatet into indicators to give you time advantege to show what will average investor do in next time frame to be beafore him. If you know that average investor who invest by his emotions will sell in next time frame all you need to do is sell beafore him Really mate! Then we should call it "emotional analysis" and not technical analysis! The definition says "Technical analysis employs models and trading rules based on price and volume transformations, such as the relative strength index, moving averages, regressions, inter-market and intra-market price correlations, business cycles, stock market cycles or, classically, through recognition of chart patterns". I don't see any emotional quotient is being used in this type of analysis. Technical analysis is purely based on the numbers and not by the emotions. That is the reason why TA doesn't really help understanding the crypto market which is driven by global emotion. Yes but what was changing price in 1900 when TA was developed? What was making this price and volume transformations to give data to made TA? What? magic wand? TA is as you said "based on the numbers" but those numbers are made by price and volume change made by INVESTORS DECISIONS. To buy or not to buy. Price will not move if invesotor wont make decision. And his decision is alwais subjective. If TA gives sell sygnal price is going down becouse analysis said so and magic wand make it happend or becouse someone made decision to sell? And what made him to do this decission in 1900 when there was no TA? Investor caused by his emotions make transactions what change price and volumen what gives data to technical analysis. I didnt say that TA is based by someones relationship with his mum. Chemistry describes love by enzyme flow (especialy testosterone dopamine oxytocin vasopressin). But its still chemistry not lovestry. |
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Always develop the habit of setting a target. After setting your target, work towards that target. When you get there, you stop. If you want to work harder set it higher and if you wonna go in a steady manner, set it low. To me that's the best time you can take your profit, that is when you reach your target.
Well you are setting your target by current market situation in buy time frame which can change drastlicly after few hours. I think that target should be changed then. Sell decision should be alwais made by current market situation. Not by market situation weeks ago or buy price times alwais the same amount (x1,5 for example) |
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Introduction - nothing special :The very first and most obvious statement is that price move up and down when investors are selling and buying. Change in demand and supply have influence on price what push it up or down. It don't magical moves. Every point on chart is point where 1 investor said "this is the lowest point - ill buy" and second investor "this is the highest point it won't go higher - ill sell". Second obvious statement - to earn on trading other investor have to lose. That's why to earn on market you need to better than he is. Third obvious statement - it TA works it shows you when money will be pumped by investors into asset. It definitely not work by magic. Now jump to Technical Analysis:How TA works then? TA was made to calculate emotions of average investor (edit: TA was made to calculate next moves of average investor). I mean that we are not special. Most of the investors buy when price goes up and sell when it goes down (mostly). It was calculated into indicators to give you time advantage to show what will average investor do in next time frame to be before him. If you know that average investor who invest by his emotions will sell in next time frame all you need to do is sell before him. For example, he will sell because price is going down - TA indicator will show it by crossing average. For example some of the investors won't sell because price was that low few weeks ago and it bounce. But he will sell when price will be lower (break support) TA gives huge advantage to be before average investor and earn money on their emotions by your calculated method. Historic:The principles of technical analysis are derived from hundreds of years of financial market data.[6] Some aspects of technical analysis began to appear in Amsterdam-based merchant Joseph de la Vega's accounts of the Dutch financial markets in the 17th century. In Asia, technical analysis is said to be a method developed by Homma Munehisa during the early 18th century which evolved into the use of candlestick techniques, and is today a technical analysis charting tool.[7][8] In the 1920s and 1930s Richard W. Schabacker published several books which continued the work of Charles Dow and William Peter Hamilton in their books Stock Market Theory and Practice and Technical Market Analysis. In 1948 Robert D. Edwards and John Magee published Technical Analysis of Stock Trends which is widely considered to be one of the seminal works of the discipline. It is exclusively concerned with trend analysis and chart patterns and remains in use to the present. Early technical analysis was almost exclusively the analysis of charts, because the processing power of computers was not available for the modern degree of statistical analysis. Charles Dow reportedly originated a form of point and figure chart analysis. Wikipedia - https://en.wikipedia.org/wiki/Technical_analysisBack to Technical Analysis:As you can see TA indicators was made in 17-18th century. Who was average investor then? Most of them was published to everyone in 1920. Average investor from 1920 didn't have computer and to make transaction he had to go to exchange next day and make offer personally. Since TA indicators was developed word change dramatically. Average investor is completely different investor. How does average investor look now compared to 1920 investor: 1- He has computer and can make decision/trade in few seconds than change his mind and make oposit trade. In 1920 you had to go to exchange personally or in 1970+ call your broker to make a transaction. 2- He has access to news few minutes after they appear - in 1920 you had to w8 for newspaper 3- HE IS USING TA because its common knowledge and first think you are facing with when you decide to trade is TA - in 1920 average investor didn't know what TA is 4- Average investor now probably is not a person any more. It is trading bot or IA bot5- How many daytraders was in 1920 and how long they had to wait for their trade to be made? 6'- Cryptocurrency trader world is changed by arbitrage bots from various exchanges that is short term change charts dramatically (you have lots of buy offer where only few would buy because arbitrage bots are buying to sell on other exchanges). ConclusionFrom logical point of view TA indicators should not work any more. It was made in different world to know what will 1920 investor do in next time frame to do it before him. Now average investor use TA. You will not be better than him using TA too especially if average investor now could be trading bot that will always be faster and better than you. Because he is using the same indicators but he is always on market and makes decision in less than second. In 21 century the only way to be better than other investors is to be a whale. Yes. He knows that average investor use TA or is a trading bot who use TA. He knows that if price will bounce from support it will make TA lovers think that its "double bottom" and huge demand will appear. He can help price to bounce from support to dump price after on bigger demand (when whale wants to sell). He knows that if price will break support it will make TA lovers think that its "price is going to next support" and huge supply will appear. He can help price to break support to buy after on bigger supply (when whale wants to buy). In this point of view the only method to earn on trading when you are not a whale is to swim with whales. Looking for them on market. Trying to find them in the sea of charts. I would love to discuss what you guys think about it. How TA worked and if TA works in 21 century. I'll set a poll for that too.
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the best time to make a profit withdrawal from the trading you do is when you are able to earn more than 50% then you can make a withdrawal of profit.
Its the worst tactick. Your sell decision should be made by current market situation. It should definitly not be made by your entry price x1,5. Ill tell you sicret MARKET DONT KNOW WHERE YOU BOUGHT AT. When i buy and i see that market is not realising my scenario i sell no matter if its +5% +15% +150% or -5%. |
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What? Take profit when the market is green? Huh?
If you're day trading, you buy low and sell high. Use RSI and Bollinger bands for day trading with a coin that has volume in an exchange.
Use fib. retracement or other charting TA for longer trades. It's that simple.
Great utopia where everyone is winning. If it was that easy everyone will earn - thats impossible on market. To earn you need to be better than others. When you are using TA indicators everyone knows your moves. Everyone knows where you will buy and sell. Thats why to sell whale will show you buy oportunity. TA indicators investor is like trading bot but much slower, more stupid and susceptible for emotions and gambling. He become piggybank for those bots who will alwais be faster and better than him. |
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Cryptocurrency Trading is fun and captivating especially when you are always up with profit no matter the situation of the market, of course who wouldn't be happy when you are successful in what you do?
In many situations we are confronted with the choices of should I exit the market now or should I stay, and swiftly as this may be decision need to be made fast to be able to keep up with a moving trade. For day traders avoid exiting the market when the chart is already down especially if you are not at profit, it is better to take profit when you are comfortably at profit even though the market is still green and wait for a next dip than waiting till market has gone against you and you are struggling with cutting off more loss.
When im daytrading i alwais sell when price is going up. Even when im on loss. I w8 for rebounce to sell there. I mostly dont look at AT indicators like it is written in book. I mean than "if rsi is bla bla bla than buy". Becouse rsi can be oversold for weeks during bear market and overbought for weeks in bear market. When im using indicators i alwais only support on them. Main indicator is my expirience. When im trading in longer term i buy coins when i come to the market and my first impression is "wtf is that so cheap" and sell when i think im on the moon. I dont w8 for it to rotate back to earth. Even if it is trip to mars not moon. There will be more and more opportunity to earn. Only 1 out of 10 will be to Mars. I also invest longterm into bitcoin - i dont need to look at chart or prices. I only read whats in news about bitcoin and other currencies. If its ok i w8 for "mars" |
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For me fundamental analysis is good for longterm investment. For short term feeling market emotions is more important. Knowing when there is panic peak etc - dont confuse it with TA.
TA:
TA worked years ago. Now majority of volume is made by bots and ai bots.
Most of TA indicators was made years ago for low variability stock market when you need to call your broker to made trade.
TA especialy dont work on market this small bacause even few mil used wisely by whale can push price +-50%
TA indicators investor is like trading bot but much slower, more stupid and susceptible for emotions and gambling. You become piggybank for those bots who will alwais be faster and better than you.
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What makes Lightning Network an innovation to help Bitcoin?
With Lightning Network, All Bitcoin transactions will be executed quickly and efficiently. In addition, transaction fees are also significantly reduced. That's what I heard about it. However, until now, everything have not changed! Its changing every day. We have more and more nodes and chanels each day. You can check it here: https://lnmainnet.gaben.win/ (2000+nodes and 6000+ chanels) - its evolving each day and its not linear increase. There is also lightning test app v 0.2.0 on github. |
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Firstly you yave to learn about technical analysis because this is will be basic of day trading. Use time frame minimum 1 hours and learn price action of crypto by understanding chart pattern and candlestick pattern. You should understand about support and resistance level to decide entry buy and sell. Other important thing you have to set percentace of take profit and stop loss in every trade.
TA worked years ago. Not now with majority of volume made by bots and ai bots. Most of indicators was made years ago (19xx) for low variability stock market when you need to call your broker to made trade. And none of TA indicators was made to work on market on which arbitrage bots works from various exchanges and coins. Min 1h? why if altcoins has such variability that you can earn few % in 5-20 min on 5 min candle like i do. TA especialy dont work on market this small bacause even few mil used wisely by whale can push price +-50% Just think for a moment. If you are trading from IA indicators you are like trading bot but much slower, more stupid and susceptible for emotions and gambling. You become piggybank for those bots who will alwais be faster and better than you. You can follow these tips:
1. Learn about tech behind cryptocurrencies (mintable coins, non-mintable coins, Blockchain and other tech stuff ).
2. Learn about cryptocurrencies trends of past year and whats going on currenctly.
3. Select the best crypto coin or coins you are interested to invest in.
4. Research about their tech more and follow the trends for some period.
5. Learn the basics of crypto investments i.e. When to enter and when to exit.
6. Make a plan your investment Goals.
7. Keep following latest news and announcements.
OP is asking for daytrading not investing. To become daytrader you need to make as many trades as you can with minimum bet to make your learning as cheap as possible. Do as manny mistakes as you can and earn from every. Watch how price react for news, panic sell, panic buy and use that panic as your advantage. Daytrader earns buying risk and selling hopes. Investor buy hopes and sell dreams or risk if price goes down |
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