Bitcoin Forum
May 28, 2024, 02:10:04 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Economy / Trading Discussion / Re: Trading concept on: January 03, 2018, 06:29:15 PM
Thank you guys for the insight!!
2  Economy / Trading Discussion / Trading concept on: January 03, 2018, 10:38:27 AM
Hey guys,

I've been acquainted with cryptocurrencies for over a year now, invested in long term for over 6 months but recently decided to start diversifying my portfolio through daily trading. I have a question though.

If I want to buy a coin that I know is going to raise in value, should I:
1. Buy the coin with another coin that is giving a bearish signal
2. Buy the coin with another coin that is strong right now and that I made profit in

I use Binance as my exchange, and most trading pairs are with Bitcoin. Therefore, it is the coin I will be using the most to buy altcoins with. However, I don't want to liquidate all of my bitcoin assets because I want to stay invested in Bitcoin regardless. So, I would sell some of my other altcoins for Bitcoin and use that BTC to buy the alt.

Let's say I want to buy XRP:

1. I can sell some of my LTC into BTC, and from there buy the XRP. LTC is currently in a weak phase, so thus I don't mind getting rid of some of it.

2. I can sell some of my ETH into BTC, and form there buy the XRP. ETH is currently in a strong phase, so I already made profits and I don't want to get rid of a coin that is weak because it is bound to strengthen again.

Which of the two seems to be a more logical approach?

Thanks guys

PS. Please feel free to tell me any ebooks or whatever I can read to further my knowledge in the trading market.
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!