OBAViJEST (OP)
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April 29, 2015, 12:24:14 AM |
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I know I'm already breaking a couple of the trading world's cardinal rules here, so please bear with me Here's my current situation:- 1.) Amassed $60 worth of BTC
- 2.) Withdrew $50 into cold storage, kept $10/0.044BTC to play around and/or learn with (ie. lose, so as to not get my hopes up
) - 3.) Transferred my BTC to Poloniex, and figured I'd try learning the basics of exchanges/trading
I've spread my bits around into various coins. Because I have no idea what I'm doing - and at the same time putting all my trust in you guys ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) , I'll tell you what coins I've vested in. My wealth is spread as such: [ARCH] ARCHcoin 10.69400404
[BTC] Bitcoin 0.00664344
[DOGE] Dogecoin 2603.47826087
[HUGE] BIGcoin 14520.12404124
[NMC] Namecoin 7.27706705
[NXT] NXT 222.94797859
[PPC] Peercoin 1.24685423
[SYS] Syscoin 538.00539083
[XMG] Magi 121.26715731
I've tried reading what various popular trading threads exist, yet usually leave the threads with as little knowledge as I had entered with (and sometimes embarrassed in myself, leaving threads like pumping dicks slathered in the self-praising semen from others getting off in such circle-jerks). I still failed at obtaining any useful info - buy low, sell high... but how do I know what low/high is? How should I be properly reading each coin's chart? Should I be looking at their /all graphs, or judge when to buy/sell by the hour/day/week/month/year? What's the importance of market cap vs price vs available supply vs volume, and how should I assess these factors when deciding whether or not to invest in an alt? I realize this is a lot to be asking, but it's just so difficult to find the answers I'm looking for, without ending up in wikipedia pages for fiat currencies, or " THE ANSWERS ALL HERE, LINE PUMPY'S POCKETS FOR THE MEANING OF LIFE, I'M SO RICH I'LL PROVE IT WITH TUMBLR GIFs"-esqe garbage! I highly appreciate any and all help, and will happily reward any descriptive advice with some changetip ![Kiss](https://bitcointalk.org/Smileys/default/kiss.gif) Cheers!
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notlist3d
Legendary
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April 29, 2015, 01:02:26 AM |
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I still failed at obtaining any useful info - buy low, sell high...but how do I know what low/high is? How should I be properly reading each coin's chart? Should I be looking at their /all graphs, or judge when to buy/sell by the hour/day/week/month/year? What's the importance of market cap vs price vs available supply vs volume, and how should I assess these factors when deciding whether or not to invest in an alt?
I don't think there is a easy answer sadly. Trading is a beast of it's own. Some are pump/dump, other have long term futures. The ones that have a good idea and making good money, don't tend to share the knowledge as it would cut into their profit. Just like trading bots, sure they are out there but a good configuration is treated like gold.
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CoinFriend
Sr. Member
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April 29, 2015, 01:10:23 AM |
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I know I'm already breaking a couple of the trading world's cardinal rules here, so please bear with me Here's my current situation:- 1.) Amassed $60 worth of BTC
- 2.) Withdrew $50 into cold storage, kept $10/0.044BTC to play around and/or learn with (ie. lose, so as to not get my hopes up
) - 3.) Transferred my BTC to Poloniex, and figured I'd try learning the basics of exchanges/trading
I've spread my bits around into various coins. Because I have no idea what I'm doing - and at the same time putting all my trust in you guys ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) , I'll tell you what coins I've vested in. My wealth is spread as such: [ARCH] ARCHcoin 10.69400404
[BTC] Bitcoin 0.00664344
[DOGE] Dogecoin 2603.47826087
[HUGE] BIGcoin 14520.12404124
[NMC] Namecoin 7.27706705
[NXT] NXT 222.94797859
[PPC] Peercoin 1.24685423
[SYS] Syscoin 538.00539083
[XMG] Magi 121.26715731
I've tried reading what various popular trading threads exist, yet usually leave the threads with as little knowledge as I had entered with (and sometimes embarrassed in myself, leaving threads like pumping dicks slathered in the self-praising semen from others getting off in such circle-jerks). I still failed at obtaining any useful info - buy low, sell high... but how do I know what low/high is? How should I be properly reading each coin's chart? Should I be looking at their /all graphs, or judge when to buy/sell by the hour/day/week/month/year? What's the importance of market cap vs price vs available supply vs volume, and how should I assess these factors when deciding whether or not to invest in an alt? I realize this is a lot to be asking, but it's just so difficult to find the answers I'm looking for, without ending up in wikipedia pages for fiat currencies, or " THE ANSWERS ALL HERE, LINE PUMPY'S POCKETS FOR THE MEANING OF LIFE, I'M SO RICH I'LL PROVE IT WITH TUMBLR GIFs"-esqe garbage! I highly appreciate any and all help, and will happily reward any descriptive advice with some changetip ![Kiss](https://bitcointalk.org/Smileys/default/kiss.gif) Cheers! Hey man, i trade every day and i can answer a lot of your questions. But it is not done wit a single post. I am sure you will get further question... To start with, i tell you first. It's a good idea that you play around with a small amount. Putt the biggest part in cold storage is a good and safe choice. Second, i like some of the coins you selected. And some i miss. But i would not all buy at the same time... And if you hold a coin for a longer time, it is an advantage if they are traded on different exchanges! Third, you have to choose exchanges also where you trade your coins. Choose only one exchange for the beginning, to understand how it works. Placing an order, order books and trade history. As well read the graphs, but this is a part for it self. About graphs is a lot to learn, but not a need to understand the basics. And later you will find out that you can buy on one exchange and sell on a other and that is profitable to use more exchanges. As next, write all the things and trades you do in a excel sheet. I did it in the beginning and it helped me a lot to understand what i do. Sometimes it is good for remember something also. And it will show you, all exchanges provide different quality. Yeah and i understand your question about the price really good. What is a low or high price. I can tell you, the way i trade there is the price is not very important! Because i try to hold the altcoins not for a long time. At best i buy and sell "at the same moment". Search for "arbitrage". if you buy a coin and hold it for a long time then you are invested in it. And if you are invested you should be sure that you have a good coin. And see also here, i wrote something about my way of trading (on different exchanges). https://bitcointalk.org/index.php?topic=1025442.msg11211078#msg11211078Also i can tell you, it is a lot of learning by doing. I learned it all by myself, by reading, thinking and try out something. Not all the provided data you need, like volume, price, market cap and many more. you will find out what is important for you and your strategy. a strategy you will build up after a while... you will see. I think this should be enough information for my first post ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Tell me your questions, i try to give answers good as possible. Cheers
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Vod
Legendary
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Licking my boob since 1970
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April 29, 2015, 01:18:14 AM |
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I still failed at obtaining any useful info - buy low, sell high...but how do I know what low/high is?
The people that could answer that would be on a beach somewhere sipping daiquiris. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) You have to learn how to read the ups and downs. If it was easy to make money everyone would be rich.
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CoinFriend
Sr. Member
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Offline
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Merit: 250
support.
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April 29, 2015, 01:33:18 AM |
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I still failed at obtaining any useful info - buy low, sell high...but how do I know what low/high is?
The people that could answer that would be on a beach somewhere sipping daiquiris. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) You have to learn how to read the ups and downs. If it was easy to make money everyone would be rich. Do you believe it is more easy to say what is a high and a low price if someone is on a beach? Right money making is not easy. And generating a profit from changing pices is a continual process and not a short time thing that you do one time and after it you can go to the beach. And like i said before, you learn to read the up and downs if you work with them. It's learning by doing. I don't think there is a easy answer sadly. Trading is a beast of it's own. Some are pump/dump, other have long term futures.
The ones that have a good idea and making good money, don't tend to share the knowledge as it would cut into their profit. Just like trading bots, sure they are out there but a good configuration is treated like gold.
And trading bots are also a topic for itself. You can work with them if you understand what you do. Before you are not able set a good configuration. And sure the best information will nobody share. But the basics are good to share. Because the market needs trader. If you trade you will see it this way.
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SirLolicon
Sr. Member
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Sound Engineer for Hire
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April 29, 2015, 01:38:29 AM |
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Buy Low Sell High.
To know what's low and high you have to determine it yourself. It's all about how you predict the market. if you think it's gonna be a strong day then you can probably buy a below the 24 hr average in bulk and sell a bit lower than the highest ask.
That's what I used to do, got 30$ out of 12$ worth of alt coin back when NXT was inflating
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OBAViJEST (OP)
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 29, 2015, 01:55:03 AM |
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I know I'm already breaking a couple of the trading world's cardinal rules here, so please bear with me Here's my current situation:- 1.) Amassed $60 worth of BTC
- 2.) Withdrew $50 into cold storage, kept $10/0.044BTC to play around and/or learn with (ie. lose, so as to not get my hopes up
) - 3.) Transferred my BTC to Poloniex, and figured I'd try learning the basics of exchanges/trading
I've spread my bits around into various coins. Because I have no idea what I'm doing - and at the same time putting all my trust in you guys ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) , I'll tell you what coins I've vested in. My wealth is spread as such: [ARCH] ARCHcoin 10.69400404
[BTC] Bitcoin 0.00664344
[DOGE] Dogecoin 2603.47826087
[HUGE] BIGcoin 14520.12404124
[NMC] Namecoin 7.27706705
[NXT] NXT 222.94797859
[PPC] Peercoin 1.24685423
[SYS] Syscoin 538.00539083
[XMG] Magi 121.26715731
I've tried reading what various popular trading threads exist, yet usually leave the threads with as little knowledge as I had entered with (and sometimes embarrassed in myself, leaving threads like pumping dicks slathered in the self-praising semen from others getting off in such circle-jerks). I still failed at obtaining any useful info - buy low, sell high... but how do I know what low/high is? How should I be properly reading each coin's chart? Should I be looking at their /all graphs, or judge when to buy/sell by the hour/day/week/month/year? What's the importance of market cap vs price vs available supply vs volume, and how should I assess these factors when deciding whether or not to invest in an alt? I realize this is a lot to be asking, but it's just so difficult to find the answers I'm looking for, without ending up in wikipedia pages for fiat currencies, or " THE ANSWERS ALL HERE, LINE PUMPY'S POCKETS FOR THE MEANING OF LIFE, I'M SO RICH I'LL PROVE IT WITH TUMBLR GIFs"-esqe garbage! I highly appreciate any and all help, and will happily reward any descriptive advice with some changetip ![Kiss](https://bitcointalk.org/Smileys/default/kiss.gif) Cheers! Hey man, i trade every day and i can answer a lot of your questions. But it is not done wit a single post. I am sure you will get further question... To start with, i tell you first. It's a good idea that you play around with a small amount. Putt the biggest part in cold storage is a good and safe choice. Second, i like some of the coins you selected. And some i miss. But i would not all buy at the same time... And if you hold a coin for a longer time, it is an advantage if they are traded on different exchanges! Third, you have to choose exchanges also where you trade your coins. Choose only one exchange for the beginning, to understand how it works. Placing an order, order books and trade history. As well read the graphs, but this is a part for it self. About graphs is a lot to learn, but not a need to understand the basics. And later you will find out that you can buy on one exchange and sell on a other and that is profitable to use more exchanges. As next, write all the things and trades you do in a excel sheet. I did it in the beginning and it helped me a lot to understand what i do. Sometimes it is good for remember something also. And it will show you, all exchanges provide different quality. Yeah and i understand your question about the price really good. What is a low or high price. I can tell you, the way i trade there is the price is not very important! Because i try to hold the altcoins not for a long time. At best i buy and sell "at the same moment". Search for "arbitrage". if you buy a coin and hold it for a long time then you are invested in it. And if you are invested you should be sure that you have a good coin. And see also here, i wrote something about my way of trading (on different exchanges). https://bitcointalk.org/index.php?topic=1025442.msg11211078#msg11211078Also i can tell you, it is a lot of learning by doing. I learned it all by myself, by reading, thinking and try out something. Not all the provided data you need, like volume, price, market cap and many more. you will find out what is important for you and your strategy. a strategy you will build up after a while... you will see. I think this should be enough information for my first post ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Tell me your questions, i try to give answers good as possible. Cheers Thanks a lot for this, sent you a PM ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) And thank you to everyone else here, I've read each response in detail, and will reply to each of you in due time...but for now, switching between PCs ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Thanks again.
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Mayuyu48
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April 29, 2015, 02:11:33 AM |
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If you want to buy low sell high method, try to learn about trading analysis. Speculation section is good place to learn. but watch out there are so many trolls there ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) My advice is set target of price that you want to sell your coin if current price reach the target, just sell it. This is safe way for trading altcoin. And set target for losses too, if your coin value decreased more than 30%, for example. just sell it without wait more loss but be careful with greedy behavior, it will ruin your strategy
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OBAViJEST (OP)
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April 29, 2015, 03:18:25 AM |
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If you want to buy low sell high method, try to learn about trading analysis. Speculation section is good place to learn. but watch out there are so many trolls there ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) My advice is set target of price that you want to sell your coin if current price reach the target, just sell it. This is safe way for trading altcoin. And set target for losses too, if your coin value decreased more than 30%, for example. just sell it without wait more loss but be careful with greedy behavior, it will ruin your strategy Thanks, I saw the options for 'stop-limits' but was not 100% sure how to implement their use. Appreciate your help ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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not altcoin hitler
Member
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Amazix
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April 29, 2015, 07:04:42 AM Last edit: April 29, 2015, 07:40:20 AM by not altcoin hitler |
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I still failed at obtaining any useful info - buy low, sell high...but how do I know what low/high is? How should I be properly reading each coin's chart? Should I be looking at their /all graphs, or judge when to buy/sell by the hour/day/week/month/year? What's the importance of market cap vs price vs available supply vs volume, and how should I assess these factors when deciding whether or not to invest in an alt?
- Marketcap devided by number of coins equals price of a coin ... or: price of the coin multiplied by number of coins equals marketcap (logically) - tradevolume devided by price equals number of coins traded - look out for inflationrate. How many new coins are created per day/month/year? New coins mostly go to market. So inflation makes up the supply. And as we know demand AND supply make the price. If demand is consistently higher than inflation, coin theoretically goes up. - In daytrading you sell when it goes down to rebuy more coins lower - Looking at alltime graph or 1 year graph is certainly helpful to get an idea what potential the coin has (or had) and what the trend is (right now i think many coins can be found that are close to rock bottom) - Tradevolume can fluctuate wildly day to day - generally one shouldn't 'invest' in coins at all. I thought similar but it turned out that this place is full of scum, incompetence, vapourware and crooks and most coins don't live all that long. Maybe even bitcoin won't live all that long, who knows? Daytrading and swingtrading is what 80% of people do especially if you are a small fish that can't afford to, so to speak, make a coin his 'own bitch'. - with small bankroll like you, often trading at the spread can be lucrative. You'll find coins with large spread on every exchange. Trading that spread profitable is also possible. - if you devide daily tradevolume by daily inflationrate you'll get a metric that let's you compare all these coins directly. Think about this. - never listen to any adivce on this board. Everyone just wants into your pocket. Only trade according to your own research and judgement. - newer coins are more risky and volatile than older coins. - never buy based on promises or hype In trading 90% of people loose. It is competition. Either you learn fast and make it to top 20% and later 10% and end up living off it or you're going to be erased in the long run. We've seen many people vanish here in the past year, many lost everything. (look at altcoin charts, some things are down 99,9%) Alts are volatile as hell. Good financial management and risk mitigation is where it's at. Never all in! Take some profits when possible. Don't be greedy. Try to cut losses early. Observe how buyers rule until they are exhausting and slowing down and are engulfed by a large seller and then sellers rule until they are exhausted and are engulfed by a large buyer. That's the beat of the market. Contrary to mayuyu: Avoid speculation section. It's biased. Don't cut your gains when you're sensible enough to read the market. Ride the winners to where they take you but pay attention and be alert to sell once the buyers are exhausting. Guessing tops and bottoms can be learned. You know you've achieved it when your medium sized marketorder frequently tends to tip the market. (godmode trader) Daytrading 101 training can help. Controlling your emotions (fear and greed) is where it's at. Marketaction is a reflection of fear and greed aswell as hopes of the market participants. Learn to capitalize on fear and greed of others. Most important: don't believe a word you read here. Trust nobody, not even admins. Good luck
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OBAViJEST (OP)
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 29, 2015, 07:28:00 PM |
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I still failed at obtaining any useful info - buy low, sell high...but how do I know what low/high is? How should I be properly reading each coin's chart? Should I be looking at their /all graphs, or judge when to buy/sell by the hour/day/week/month/year? What's the importance of market cap vs price vs available supply vs volume, and how should I assess these factors when deciding whether or not to invest in an alt?
- Marketcap devided by number of coins equals price of a coin ... or: price of the coin multiplied by number of coins equals marketcap (logically) - tradevolume devided by price equals number of coins traded - look out for inflationrate. How many new coins are created per day/month/year? New coins mostly go to market. So inflation makes up the supply. And as we know demand AND supply make the price. If demand is consistently higher than inflation, coin theoretically goes up. - In daytrading you sell when it goes down to rebuy more coins lower - Looking at alltime graph or 1 year graph is certainly helpful to get an idea what potential the coin has (or had) and what the trend is (right now i think many coins can be found that are close to rock bottom) - Tradevolume can fluctuate wildly day to day - generally one shouldn't 'invest' in coins at all. I thought similar but it turned out that this place is full of scum, incompetence, vapourware and crooks and most coins don't live all that long. Maybe even bitcoin won't live all that long, who knows? Daytrading and swingtrading is what 80% of people do especially if you are a small fish that can't afford to, so to speak, make a coin his 'own bitch'. - with small bankroll like you, often trading at the spread can be lucrative. You'll find coins with large spread on every exchange. Trading that spread profitable is also possible. - if you devide daily tradevolume by daily inflationrate you'll get a metric that let's you compare all these coins directly. Think about this. - never listen to any adivce on this board. Everyone just wants into your pocket. Only trade according to your own research and judgement. - newer coins are more risky and volatile than older coins. - never buy based on promises or hype In trading 90% of people loose. It is competition. Either you learn fast and make it to top 20% and later 10% and end up living off it or you're going to be erased in the long run. We've seen many people vanish here in the past year, many lost everything. (look at altcoin charts, some things are down 99,9%) Alts are volatile as hell. Good financial management and risk mitigation is where it's at. Never all in! Take some profits when possible. Don't be greedy. Try to cut losses early. Observe how buyers rule until they are exhausting and slowing down and are engulfed by a large seller and then sellers rule until they are exhausted and are engulfed by a large buyer. That's the beat of the market. Contrary to mayuyu: Avoid speculation section. It's biased. Don't cut your gains when you're sensible enough to read the market. Ride the winners to where they take you but pay attention and be alert to sell once the buyers are exhausting. Guessing tops and bottoms can be learned. You know you've achieved it when your medium sized marketorder frequently tends to tip the market. (godmode trader) Daytrading 101 training can help. Controlling your emotions (fear and greed) is where it's at. Marketaction is a reflection of fear and greed aswell as hopes of the market participants. Learn to capitalize on fear and greed of others. Most important: don't believe a word you read here. Trust nobody, not even admins. Good luck Thanks for the detailed info. I'll read it further in a couple minutes & respond more Pm me with any one of your emails, or a reddit username, I'll send you a nice changetip for the help
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CoinFriend
Sr. Member
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April 29, 2015, 08:18:52 PM |
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I still failed at obtaining any useful info - buy low, sell high...but how do I know what low/high is? How should I be properly reading each coin's chart? Should I be looking at their /all graphs, or judge when to buy/sell by the hour/day/week/month/year? What's the importance of market cap vs price vs available supply vs volume, and how should I assess these factors when deciding whether or not to invest in an alt?
- Marketcap devided by number of coins equals price of a coin ... or: price of the coin multiplied by number of coins equals marketcap (logically) - tradevolume devided by price equals number of coins traded - look out for inflationrate. How many new coins are created per day/month/year? New coins mostly go to market. So inflation makes up the supply. And as we know demand AND supply make the price. If demand is consistently higher than inflation, coin theoretically goes up. - In daytrading you sell when it goes down to rebuy more coins lower - Looking at alltime graph or 1 year graph is certainly helpful to get an idea what potential the coin has (or had) and what the trend is (right now i think many coins can be found that are close to rock bottom) - Tradevolume can fluctuate wildly day to day - generally one shouldn't 'invest' in coins at all. I thought similar but it turned out that this place is full of scum, incompetence, vapourware and crooks and most coins don't live all that long. Maybe even bitcoin won't live all that long, who knows? Daytrading and swingtrading is what 80% of people do especially if you are a small fish that can't afford to, so to speak, make a coin his 'own bitch'. - with small bankroll like you, often trading at the spread can be lucrative. You'll find coins with large spread on every exchange. Trading that spread profitable is also possible. - if you devide daily tradevolume by daily inflationrate you'll get a metric that let's you compare all these coins directly. Think about this. - never listen to any adivce on this board. Everyone just wants into your pocket. Only trade according to your own research and judgement. - newer coins are more risky and volatile than older coins. - never buy based on promises or hype In trading 90% of people loose. It is competition. Either you learn fast and make it to top 20% and later 10% and end up living off it or you're going to be erased in the long run. We've seen many people vanish here in the past year, many lost everything. (look at altcoin charts, some things are down 99,9%) Alts are volatile as hell. Good financial management and risk mitigation is where it's at. Never all in! Take some profits when possible. Don't be greedy. Try to cut losses early. Observe how buyers rule until they are exhausting and slowing down and are engulfed by a large seller and then sellers rule until they are exhausted and are engulfed by a large buyer. That's the beat of the market. Contrary to mayuyu: Avoid speculation section. It's biased. Don't cut your gains when you're sensible enough to read the market. Ride the winners to where they take you but pay attention and be alert to sell once the buyers are exhausting. Guessing tops and bottoms can be learned. You know you've achieved it when your medium sized marketorder frequently tends to tip the market. (godmode trader) Daytrading 101 training can help. Controlling your emotions (fear and greed) is where it's at. Marketaction is a reflection of fear and greed aswell as hopes of the market participants. Learn to capitalize on fear and greed of others. Most important: don't believe a word you read here. Trust nobody, not even admins. Good luck Thanks for the detailed info. I'll read it further in a couple minutes & respond more Pm me with any one of your emails, or a reddit username, I'll send you a nice changetip for the help yes, he wrote many good points and mostly all of them need a further discussion, otherwise the topics would be not profound enough. and he also mix two different things. day trading and long term trading. not all data which is provided on a exchange is important for both kinds of trading. my opinion, first you should know the basics. for example,what is a base currency. and then we can talk about the data and values which is shown on a exchange. and you should understand the currency/coin itself, to know why the price against a other currency change! (or why not!) and before you execute a trade you must be sure, what kind of trade you perform to profit from. day trading needs a lot experience and understanding, because you should be sure that you know the direction in which the market move. and it need some time to read and understand a chart perfect. but i wont say, trading is a competition only. it is also a fair way to profit from difference on the market. It is a way which balancing creates. especially if you do arbitrage. arbitrage can also generate profit in short time frames and is more secure as day trading! arbitrage is very secure, if you understand the procedure and do it right! day trading is speculation! If you want to buy low sell high method, try to learn about trading analysis. Speculation section is good place to learn. but watch out there are so many trolls there ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) My advice is set target of price that you want to sell your coin if current price reach the target, just sell it. This is safe way for trading altcoin. And set target for losses too, if your coin value decreased more than 30%, for example. just sell it without wait more loss but be careful with greedy behavior, it will ruin your strategy Thanks, I saw the options for 'stop-limits' but was not 100% sure how to implement their use. Appreciate your help ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) this order type for example is a advantage for day traders. a stop order executes your trade if you are not on your computer and watch the market. there are different kind of stop orders also. the order type which is available on every exchange (the standard order) is called "good till canceled" and what the guy here talk about, with a target price, it sound a lot like day trading.
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odolvlobo
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April 29, 2015, 08:43:05 PM Last edit: April 29, 2015, 10:41:04 PM by odolvlobo |
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The only way to make money trading to know more about the thing you are trading than the people you are trading with. If you trade based on charts or speculation or rumor, you are going to lose to the people that actually know what's going on.
Don't believe most of what other people say. They know a lot less than they think they know.
Don't get suckered by people selling books and bots and get-rich-quick schemes. There is no successful trading strategy. Successful trading is opportunistic -- you see an opportunity and you take it. I guess you could consider that a strategy.
Finally, don't fall for the pump-and-dump scams. If you aren't the one doing the pumping, then you must be the victim.
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OBAViJEST (OP)
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April 29, 2015, 09:14:37 PM |
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The only way to make money trading to know more about the thing you are trading than the people you are trading with. If you trade based on charts or speculation or rumor, you are going to lose to the people that actually know what's going on.
Don't believe most of what other people say. They know a lot less than they think they know.
Don't get suckered by people selling stuff books and bots and get-rich-quick schemes. There is no successful trading strategy. Successful trading is opportunistic -- you see an opportunity and you take it.
Finally, don't fall for the pump-and-dump scams. If you aren't the one doing the pumping, then you must be the victim.
Could you elaborate a bit on the whole pump-and-dump 'process'? Is this what people in the 'pumpers picks' thread got suckered into doing? It feels like that whole thread is one guy taking advantage of everyone else there...
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CoinFriend
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support.
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April 29, 2015, 10:18:28 PM |
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The only way to make money trading to know more about the thing you are trading than the people you are trading with. If you trade based on charts or speculation or rumor, you are going to lose to the people that actually know what's going on.
wow, what a "legendary" answer in the newbie section. in other words he say, stay away from trading, there are big players and they rip you off. any reason for that answer? this happened only, if you go on a market and buy a coin and hope to sell it at a higher price. also it could happen if you invest all your money. if you are smart than you can calculate a bit. Maybe you find a coin which you can buy for BTC at cheaper price as the sell price on the LTC market. That means you buy for BTC and sell for LTC, the LTC you exchange back to BTC after it. If your calculation before was correct then you have more BTC as before. This is a typical 3 way arbitrage. You can do it inner-exchange, also is it possible to execute one step on a other exchange. This way of trading is total independently from other traders, because it is very fast possible. It is no speculation, only calculation. And you don't need to look at a chart. Also the volume is unimportant. It is only a need that the price constellation is available and the calculation is correct. Don't believe most of what other people say. They know a lot less than they think they know.
yeah, including the people who say those words all the time and provide answers like yours. Are you scared that someone could steal your trade opportunities? Don't get suckered by people selling stuff books and bots and get-rich-quick schemes. There is no successful trading strategy. Successful trading is opportunistic -- you see an opportunity and you take it.
And yeah i agree with some points of this. Bots are not for newbies. Only who know what he is doing exactly can use a bot to do something automatic. But they have nothing to do with get rich quick schemes. Also book are something different! There is good perusal for reading charts, for sure. And if someone trade successful, he use a strategy. I speak from experience which i have made! And i have a strict strategy which i use. And again, arbitrage is a strategy! Can you explain your answer with a bit more details? Or have you read this somewhere else? Also a good strategy is to trade with very small amounts! Small as possible. If something goes wrong then you are able to cover the looses more easy. And for sure, arbitrage is a opportunity which is not possible at all time. If you see and calculate this this opportunity, you can take it!
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rokkyroad
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April 29, 2015, 10:31:02 PM |
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The only way to make money trading to know more about the thing you are trading than the people you are trading with. If you trade based on charts or speculation or rumor, you are going to lose to the people that actually know what's going on.
Don't believe most of what other people say. They know a lot less than they think they know.
Don't get suckered by people selling stuff books and bots and get-rich-quick schemes. There is no successful trading strategy. Successful trading is opportunistic -- you see an opportunity and you take it.
Finally, don't fall for the pump-and-dump scams. If you aren't the one doing the pumping, then you must be the victim.
Best advice ever. Trade with chump change for fun. Don't put any serious money into it. Altcoins are a losing proposition these days.
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" If you have to spam and shout to justify your existence then you are a shit coin." TaunSew
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odolvlobo
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April 29, 2015, 10:39:53 PM |
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The only way to make money trading to know more about the thing you are trading than the people you are trading with. If you trade based on charts or speculation or rumor, you are going to lose to the people that actually know what's going on.
wow, what a "legendary" answer in the newbie section. in other words he say, stay away from trading, there are big players and they rip you off. any reason for that answer? this happened only, if you go on a market and buy a coin and hope to sell it at a higher price. also it could happen if you invest all your money. if you are smart than you can calculate a bit. Maybe you find a coin which you can buy for BTC at cheaper price as the sell price on the LTC market. That means you buy for BTC and sell for LTC, the LTC you exchange back to BTC after it. If your calculation before was correct then you have more BTC as before. This is a typical 3 way arbitrage. You can do it inner-exchange, also is it possible to execute one step on a other exchange. This way of trading is total independently from other traders, because it is very fast possible. It is no speculation, only calculation. And you don't need to look at a chart. Also the volume is unimportant. It is only a need that the price constellation is available and the calculation is correct. I'm not saying don't trade, I'm saying don't trade widgets if you don't know what a widget is or how it works or why someone would want to buy or sell a widget. If you don't have a good idea where the price is going to go, then you are just guessing and you are going to lose money. Arbitrage does not work as well as most people think. Don't believe most of what other people say. They know a lot less than they think they know.
yeah, including the people who say those words all the time and provide answers like yours. Are you scared that someone could steal your trade opportunities? Well, I'm not making any claims or predictions. Don't get suckered by people selling stuff -- books and bots and get-rich-quick schemes. There is no successful trading strategy. Successful trading is opportunistic -- you see an opportunity and you take it.
And yeah i agree with some points of this. Bots are not for newbies. Only who know what he is doing exactly can use a bot to do something automatic. But they have nothing to do with get rich quick schemes. Also book are something different! There is good perusal for reading charts, for sure. And if someone trade successful, he use a strategy. I speak from experience which i have made! And i have a strict strategy which i use. And again, arbitrage is a strategy! Can you explain your answer with a bit more details? Or have you read this somewhere else? Also a good strategy is to trade with very small amounts! Small as possible. If something goes wrong then you are able to cover the looses more easy. And for sure, arbitrage is a opportunity which is not possible at all time. If you see and calculate this this opportunity, you can take it! Arbitrage works in theory, but not so well in practice.
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RussianRaibow
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April 29, 2015, 10:46:20 PM |
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The only way to make money trading to know more about the thing you are trading than the people you are trading with. If you trade based on charts or speculation or rumor, you are going to lose to the people that actually know what's going on.
How do u deny the importance of charts ? Do u think between 2 broking house trading on wall street knows one thing better than the other ?
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I AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMER
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odolvlobo
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April 29, 2015, 10:55:06 PM |
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Finally, don't fall for the pump-and-dump scams. If you aren't the one doing the pumping, then you must be the victim.
Could you elaborate a bit on the whole pump-and-dump 'process'? Is this what people in the 'pumpers picks' thread got suckered into doing? It feels like that whole thread is one guy taking advantage of everyone else there... it's very straightforward. - Step 1: Buy an asset.
- Step 2: Convince people that the price of the asset is going to rise, and that they should buy it -- the "pump".
- Step 3. Sell the asset once the price has risen because of all the people fooled by the "pump" bought it. -- the "dump"
- Step 4. Enjoy the wealth. Laugh at the people that lose money as the price returns to normal.
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odolvlobo
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April 29, 2015, 10:58:43 PM |
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How do u deny the importance of charts ?
I deny the importance of astrology. It has charts, too. Do u think between 2 broking house trading on wall street knows one thing better than the other ?
Some do, some don't, but both know more than their clients and that's how they make the most money.
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