You may get nothing and lose all your investment!!!

The alt coin market has been in decline for considerable amount of time.

There are many new coins coming on to the market daily and performing poorly on listing.

Look at the last 5/10 coins that have come onto Binance…. most have dumped immediately on listing,  possible by early investors or ico buyers.

Other than occasional increase in value, the trend has been very very bearish...

Many analysts have already said, the value of many alts is 0.   So the question im asking is could the move to 0 already have begun.

Why are many on these forums very bullish and hoping for a rise in value that may never happen.

Without a doubt many of these projects have failed and many many more will fail within the next 12/24 months due to the drying up of funds for project teams.


So the big question is... is it time to sell up on many of these alt coins, that will go to 0 or will you continue to HODL

My crypto journey began in October 2017.....

From an Investment of 10k I am down to about 5K.....Had I not traded at all, I would very likely have 20/25k

A bit dissapointed you would think... Well not really just slightly annoyed at some of my decisions.

I am actually very happy that I did trade... Jumping in the deep end as i did I learned valuble knowledge that will hopefully help me to achieve my goals in the future.

Trading without knowledge made me learn about my mistakes, how professionals trade and the strategies they use and most importantly trading experience.  It is trading experience that will teach and help you control and improve your emotions.

I learned and educated myself about both fundamental analysis and technical analysis, candlestick patterns and formations, about trading view as well as learning about margin/levergage trading.  I had the confidence to try and move into stocks a few months ago and opened a small stock trading acount with tradenet using many youtube traders of stocks for guidance and education and have a goal of having a larger trading account in a few years time.

I believe you can learn greatly using freely available resources like youtube, udemy,forums, and many many available websites.

You must be prepared to lose some capital for the purpose of your trading journey as most professional traders have done.  Many good professional traders become successful after YEARS of learning and trading.

BEFORE you trade with larger account values.. I think the it is essential that you have learned the basics such as having a trading strategy as well as having some understanding of risk/reward.

One of the biggest mistakes I made was trading with my entire account value as new trader.
The account value is secondary to having good trading knowledge, and consistently making correct trading calls in growing your acount as well as having realistic targets.  A target of 100% growth anually is an incredible target to achieve, which is just under 3% per week for an professional trader never mind a newbie trader.  Thinking long term Is also important, imagine if you can grow your account by 100% anually, how much capital will you have in 10 years

If you can consistantly grow your small account their is no reason why the same wont apply with a larger account as a trader.  Preserving your capital is the most important aspect of trading.   Never feel like you have missed out or FOMO, as their will ALWAYS be another opportunity to make profit on a trade if you missed out on something.

when did you buy rail blocks?

why are you still holding when the market is tanking?

I sold xrb months ago, during the bitgrail hack!!

why are you still holding!!! when its reduced by over 50% ( edited nearly 70% down from its low in FEBUARY)

If you have been holding since then and you have 40% that is about $240,000 of your portfolio.

Which means you must have had way more than a million dollars a one point, a few months back actually because all those coins have tanked I believe since then...

A little bit about margin/leverage for those who are interested.  Risks and advantages..


You have $1000

You buy btc with NO leverage!

BTC 10% increase = $100 profit... Your account is $1100 and has grown by 10%

BTC 10% decrease = $100 loss... Your account is $900 and has lost 10%

NOW leverage trade of  5/1  ( ie 1 part yours, 4 parts borrowed/loaned from the exchange), so you trade with $5000

BTC 10% rise = $5000 + 10% = $5500.     $500... wow great profit, your account has grown by 50%... ie $1000+$500= $1500

BTC 10% decrease= $5000-10% = $4500.  $500 loss!! wtf.. you have decreased your account by 50%!!!  $1000-£500=  $500 left!!


Now imagine if you used 10/20/50 or even 100 times leverage!!

Your profits are magnified but so are your losses.....


IMPORTANT NOTE... the exchange will only allow you to lose YOUR money/margin.   Soon as its gets close to their borrowed funds they will liquidate you (force sell your BTC so they can get ALL their money back)

No, and it is not a good strategy to do so.

When price declines suddenly.. two things should come to mind.

Will it reverse or continue falling.  Buying at a sudden decline is sometimes referred to as catching a falling knive, you will very likely get injured.


When you buy a sudden decline, you need to have a reason to buy.

Either you buy support ( a point were the price reversed previously ) and anticipate that it will reverse again, with a stop loss of course.

Or you have another strategy like buying at undersold RSI on in my case RSI divergence and even another strategy.

If you look at vechain recently, i think its price declined a lot more than people anticipated as well as Nano previously and many other coins.  That should be a lesson not to just but on a sudden steep decline.

Trading BTC/TETHER


is like buying and selling BTC with FIAT (euro/usd/gbp/yen/yuan etc)

You are using tether, a substitute for the dollor BACKED by a PRIVATE COMPANY, rather than conventional FIAT currency.

You need to be aware tether is backed by a private company, so carries some risk, ie if the company was to cease trading.

Many traders only trade btc/tether or btc/TUSD (trueusd) or OTHER ALTS/Tether

You can trade BTC with FIAT pairings directly if you prefer as do, on exchanges like Bitfinex/Kraken plus a few others, so you skip the use of tether completely.

Can you please explain why you consider margin trading to be gambling and regular trading as just TRADING...


LOL, the only differenece is that you are controlling a larger position than you would normally could without leverage/margin as you are borrowing funds.


The difference and ONLY difference is the risk and reward.   The probability of the trade being successful or not does not change wether you use margin/leverage or not.

Margin trading is most certainly not gambling.

As a matter of fact it is an essential tool for any serious and professional trader.

Yes margin trading amplifies gains as well as losses.   Only use when the odds are in your favour.

All forex traders use margin/leverage.  You would not be able make reasonable profits otherwise

I use Kraken on a daily basis, and have no complaints what so ever.  Tbh absolutely love it, I however use trading view charts rather than those on the krake/cryptowatch interface.

They have about 5/6 coins you can short.

It is very established and safe exchange based in the UK/Germany.

Another very good aspect of Kraken are the fiat pairings, GBP, USD, EURO. 

You can 5* leverage on BTC and ETH and 2* on the other pairings.

Trading view is best mate for charting and indicators.


Ive never traded forex, but the indicators I use work according to my trading style.   You must have obviously have your trading style.

I would test/back test to see if your indicators work for you in cryptocurrency, I dont see any reason why they should'nt.


I have multiple charts saved on trading view to give me various outlooks on a coin (mostly BTC and ETH)

My main chart consists of

12/26EMA
MACD
RSI
VOLUME
VWAP

My other charts include all my other indicators I find useful.

BEFORE you trade you need to LEARN how to trade... It can take years to become a good and consistently profitable trader.

You will need to learn about candlesticks/patterns, charting, technical analysis and indicators, margin and leverage trading.

I would suggest starting trading with £$100 maximum to test the waters as well as trial and error.

If its cryptos you want to trade, id suggest an exchange that lets you margin trade so you can attemt to make money if the price rises or goes down..

You can also look at CFD stock trading, which can be profitable as it allows you to trade with leverage.

Udemy

Baby pips for general trading/knowledge

YouTube, Youtube and Youtube to learn about technical analysis and indictators/candlesticks/charts.

Trading view for charting (tutorials on YT)

Stock charts for more knowlege on TA and general learning/knowledge.

I also started with cryptos, but have now doing CFD stock trading too.

The good thing with stocks is prices move much much quicker than crypto.

You can start off wit a small account with various brokers, but not all.

The main/bigger brokers have something called a PDT rule as well as $25,000 dollor account min.

With certain CFD stock brokers you can trade with 20 leverage for huge gains!!  but risk blowing your account easily too.

I think most people have very little brain cells.

It is impossible to grow you account by 5/15% a day!!!


1% a day consistently is incredibly hard.....

Lets do some figures

1% daily compounding on say £1000


You would have just under £35,000 by the end of the year.  That is a 3500% return....


Anyone who says they can achieve that is a bull*****


That would make them over a millonaire in the second year and year 3/4 and onwards god knows!!!!

If anyone can achieve 1% daily that woud make them better investor than Warren Buffet an the best trader ever!!!

I think a target of 100% anually is an incredible target to achieve, which is 3% per week  (over 7 days).

with 10k, i think you can hit a million in 10/11 yrs.  Which is life changing for the most us, i would say

I would say deposit £100 into an exchange that allows margin trading, So this will allow you to make profit if the price goes up as well as down of a particular coin.

An exchange like bitfinex, bitmex, kraken are the ones I suggest.

As well as making live trades, paper trade too as much as possible.

Learn how to place the varios orders such as the normal buy/sell as well as market/limit and then moving onto stop buy and stop sell.  As well as placing trades using margin/leverage.


Learn the ins in outs of trading as well as educate yourself on the positives and negatives using margin/levereage trading.


I have a pesonal goal of 100% return anually,  so as to achieve my greater target say in 9/10 years down the line.

Your goal may be something less but it is vitally important it is realistic.  

I trade on Kraken using margin.

I think margin trading is a very useful tool if you understand it positives and negatives.   It is essential to use during right trading opportunities to increase your potential gain, but you must have stoploss in place according to your risk/reward stategy.

I will blatantly say it is not possible,


If I am correct.. if you invest £100 at a gain of 10% based on compounding principle, you will have gained 14000% gain after 52 weeks

ie. £14000 if i am not mistaken.


a 100% return on say £5000 is about a £100 a week on average for year one...based on this principle you can achieve a six figure sum after 10/11 years

The problem is a lot of people invested without with poor advice of pumpers, youtubers with self interests.


You sold while at loss as many others have done.   Your decision may be correct as the market is still in a downtrend.


What many new investors fail to realise is that 90% of crypos will undoubtedly go to 0, so no one can say for certainty if the coins you sold was a bad move imo