Trading

[BitTyro]

The mantra of any trader is always been “Buy low, sell high.” It’s fool-proof if you follow that religiously. But trading is a lot more complicated than that. You need to do some research before jumping in the band wagon.

Anyway, I’ve been receiving some PM’s asking for “my strategy” but I can’t provide it per se. What I can give is some kind of a trading guide for beginners (at least, as of this of writing but may add some pointers for advance trader soon). I just want to point out that I’m not an expert in this field. I took some units on economics before but other than that, I gained my knowledge doing some nob trading before. You may, or may not follow what I’m saying but if you will, do it at your own risk.

TRADING FOR BEGINNERS

Article 1. Trading Platforms.

The first thing a would-be trader to do is to make an account on exchange sites. You can try:

poloniex
yobit
cryptopia
btc-e

I may be bias to coming up with that list, but those sites are what I’m using atm. You may suggest other sites that you are using for others to try.

Section 1: Poloniex

If you are looking for a high volume of alt coin trading, then you may want to check this site. They have a nice platform design and host more than 150 crypto currencies.  You have to pay 0.2% fee for buy and sell orders. Other than that, you don’t to pay anything even for deposit and withdrawal.

I might also add that Poliniex is for desktop users as their site is not mobile friendly.

Section 2. Yobit

I’m a newbie when it comes trading on Yobit. I just made an account there with regards to my signature. Since then, I did some trading on that site. I would’ve rate it 6 out of 10 because their interface is fairly simple to use. Just keep away on their troll box as I have seen some got banned buy asking stupid questions. Aside from that, they have a dice game that you may try playing while watching the price chart and they have a feature that gives some shitcoins.

Section. Cryptopia

Cryptopia is another big player when it comes to high alt coin trading volume. They have a 24 hr Market Summary for alt coin trades which is a good tool in analysing the market for any coin you are planning to trade. They also integrate a lotto game which is great if you want to try your luck. You can buy ticket using your coins like btw, doge, ltc and dot. They also host a marketplace where in you can buy or sell any goods you can imagine.

Section 4. BTC-e

If you are looking for an exchange site that has high BTC liquidity, then this is the site you may want to go. Trading volume on this exchange site can go as high as 20,000 btc on any given day. They also have a nice interface but it’s kinda buggy sometimes. You may remedy it by refreshing you browser.

(You may choose one, even all of them or you may also try other exchange site that I have not mentioned. Again, this is a bias list as this are the only exchange sites that I use atm.)

So, you now have a trading account, what’s next?

Article 2: Introduction to Trading

Any serious trader always read the market before opening any positions. Whether to buy or sell, it always depends on the market movement. I have never met any serious trader that blindly making a call without proper market analysis. For a beginner this a great feat to learn so I will try the best I could to explain it in a simple way.

For analysing the market movement you may want check:

bitcoinwisdom
poloniex

Section 1: Bitcoinwisdom is mainly for analysing the market on btc trades. They list many exchange site that includes bitfinex, bitstamp, coinbase, houbi, kraken and btc-e.
For the purpose of explaination, I will use btc-e here.

If you click on the btc-e button on the right site of their site, you will be directed to btc-e’s chart. You can choose to view it with any time interval you may choose. For me, being a day trader, I like to set it at 1 hr interval to have a clear view of btc’s price movement. I’m also using candlestick chart to get the most information I want. (I will going to explain it later)

Section 2: For altcoin trading, the site that I may suggest to check it’s trading volume is poloniex. It works almost the same compared to bitcoinwisdom’s chart but this time, its for alt coins. I just don’t want the white background on their site because it puts too much strain in my eyes  watching the chart. It’s good that they added nightmode and if you click that, you will be watching the chart just like on bitcoinwisdom.

Article 3. Market Analysis
Any beginner will easily lost just by looking on the chart alone. When I was just beginning on trading, I don’t know how to read charts. I just look for an up or down movement as this is the basic for any trade.

Section 1. Candlestick Chart.

This chart generally tells all you need to know about the market. If you choose a 1 hour time interval, it gives you an hourly open and close price. It also gives the price movement of that time frame. You can see how high and how low the price went. They are coloured red and green. If red, (I’m pretty sure you have an idea) the price went down from the opening price of that time frame and if its green the price went up from the opening price. If you notice that the sticks are mostly green, it means we are in a bullish or up trend. But if its mostly red, then we are heading to a bearish or down trend. Lastly, you may also want to check the the trading volume of that time interval. You can find that on the bottom of your screen in bar chart.

Section 2. Volume
I have mentioned above that you may want to check the volume of any given time interval because it plays a huge role on the price trend and you can clearly see what is happening in the market. You may want to take notice whenever the price goes up but has low volume for it indicates that the price won’t hold and will fall back down sooner than you think. But if you see that it has a high volume to support the up ward trend, its a good sign that the trend is here to stay. Its also coloured red (trending down) and green (trending up).

Section 3. Order Book
In every exchange site, there is an order book. Most site has only Bids and Ask. The bids are positions that other traders put to buy coins at a price they want and the Ask are where you can put how much you are willing to sell you coins. You don’t really need to watch this but you may want to look for a Buy or Sell wall. This are positions with fairly large amount of coins and they are good indicator on where the price will go.


So, when you are starting to trade this are comprehensive guide that you may want to learn before starting. I have tried the best I could to explain. If anyone wants to add more, you can always post a comment and I will add it to the OP.

Lastly, if anyone want to clarify some things I have mentioned here, please, don’t quote the whole post. Just quote the part you want to clarify or better yet, just mention the Article and Sections (that’s the reason why I formatted that way).

Gumawa ako ng poll dahil may mga trader po yata dito sa ating sub-forum para makatulong sa pagdedesisyon ng mga kagaya kong nag-uumpisa pa lang sa trading.



Everyday at 0800 hr ay irereset ko ang poll.

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[jacee]

Sa totoo lang sa pagbabago ng price ngayo at nitog mga nakaraang araw simula nung bumaba an BTC price e wala pa akong gingawa. Haha. Inipon ko lang lahat sa BTC at hindi ako nagsell. Nagbabakasakali pa ako na tataas uli dahil sa tingin ko saglit lang naman na baba.

[Naoko]

Sa totoo lang sa pagbabago ng price ngayo at nitog mga nakaraang araw simula nung bumaba an BTC price e wala pa akong gingawa. Haha. Inipon ko lang lahat sa BTC at hindi ako nagsell. Nagbabakasakali pa ako na tataas uli dahil sa tingin ko saglit lang naman na baba.

Parehas sakin, malabo kasing tumagal sa baba ang presyo kasi malapit na yung halving

[BitTyro]

Sa totoo lang sa pagbabago ng price ngayo at nitog mga nakaraang araw simula nung bumaba an BTC price e wala pa akong gingawa. Haha. Inipon ko lang lahat sa BTC at hindi ako nagsell. Nagbabakasakali pa ako na tataas uli dahil sa tingin ko saglit lang naman na baba.

Parehas sakin, malabo kasing tumagal sa baba ang presyo kasi malapit na yung halving

ganyan din po ginagawa ko ngaun. eka nga, "Patience is a virtue."

kaya nga nag-oobserve lang ako sa galaw ng price. May time na gusto ko na magbenta lalo na nung bumaba sa $350-360 pero ang ginawa ko ay naglog-out agad sa trading account ko para hindi ako magpanic selling.

[Naoko]

Sa totoo lang sa pagbabago ng price ngayo at nitog mga nakaraang araw simula nung bumaba an BTC price e wala pa akong gingawa. Haha. Inipon ko lang lahat sa BTC at hindi ako nagsell. Nagbabakasakali pa ako na tataas uli dahil sa tingin ko saglit lang naman na baba.

Parehas sakin, malabo kasing tumagal sa baba ang presyo kasi malapit na yung halving

ganyan din po ginagawa ko ngaun. eka nga, "Patience is a virtue."

kaya nga nag-oobserve lang ako sa galaw ng price. May time na gusto ko na magbenta lalo na nung bumaba sa $350-360 pero ang ginawa ko ay naglog-out agad sa trading account ko para hindi ako magpanic selling.

bro san ka nga pala nag ttrade? ano nga pala difference ng exchange at margin trading? medyo nkakalito kasi nung nag try ako sa bitfinex kahapon

[jonathgb25]

Sa akin bibili na ako kasi tataas ulit yan. Sa opinyon ko lang. pero hindi tataas pa sa 22k na inabot niya.

[BitTyro]

Sa totoo lang sa pagbabago ng price ngayo at nitog mga nakaraang araw simula nung bumaba an BTC price e wala pa akong gingawa. Haha. Inipon ko lang lahat sa BTC at hindi ako nagsell. Nagbabakasakali pa ako na tataas uli dahil sa tingin ko saglit lang naman na baba.

Parehas sakin, malabo kasing tumagal sa baba ang presyo kasi malapit na yung halving

ganyan din po ginagawa ko ngaun. eka nga, "Patience is a virtue."

kaya nga nag-oobserve lang ako sa galaw ng price. May time na gusto ko na magbenta lalo na nung bumaba sa $350-360 pero ang ginawa ko ay naglog-out agad sa trading account ko para hindi ako magpanic selling.

bro san ka nga pala nag ttrade? ano nga pala difference ng exchange at margin trading? medyo nkakalito kasi nung nag try ako sa bitfinex kahapon

sa poloniex ako nagtitrade boss.

hindi ko po na try sa bitfinex. ang ginagawa ko lang ay normal na trading or exchange. bumibili ako ng btc kung sa palagay ko ay nasa pinakamababa na ang price at nagbebenta ako pag mataas na ang price at kuntento na ako sa tubo ko. halos ganun din sa margin trading. ang kaibahan lang ay pwede ka mangutang sa broker (ang bitfinex) ng hanggang 50% ng dineposit mo sa margin account mo. kung kagaya mo ako na nag-uumpisa pa lang sa trading, mas mabuti kung wag ka muna mag margin trading para hindi ka mapressure na kumita agad sa investment mo. Ito ay pang shortterm investment lang kasi may babayaran kang interest pag nagamit mo na ang margin mo. Halimbawa, nagdeposit ka ng $500, ang pwede mo gastusin sa margin account mo ay $1000. Pero kung hindi ka pa lumagpas ng 500,  wala ka pang interest na babayaran.

kaya kung balak mo bumili at mag hold lang as investment, wag ka magmargin.

[Emworks]

Sa totoo lang sa pagbabago ng price ngayo at nitog mga nakaraang araw simula nung bumaba an BTC price e wala pa akong gingawa. Haha. Inipon ko lang lahat sa BTC at hindi ako nagsell. Nagbabakasakali pa ako na tataas uli dahil sa tingin ko saglit lang naman na baba.

Parehas sakin, malabo kasing tumagal sa baba ang presyo kasi malapit na yung halving

ganyan din po ginagawa ko ngaun. eka nga, "Patience is a virtue."

kaya nga nag-oobserve lang ako sa galaw ng price. May time na gusto ko na magbenta lalo na nung bumaba sa $350-360 pero ang ginawa ko ay naglog-out agad sa trading account ko para hindi ako magpanic selling.

bro san ka nga pala nag ttrade? ano nga pala difference ng exchange at margin trading? medyo nkakalito kasi nung nag try ako sa bitfinex kahapon

sa poloniex ako nagtitrade boss.

hindi ko po na try sa bitfinex. ang ginagawa ko lang ay normal na trading or exchange. bumibili ako ng btc kung sa palagay ko ay nasa pinakamababa na ang price at nagbebenta ako pag mataas na ang price at kuntento na ako sa tubo ko. halos ganun din sa margin trading. ang kaibahan lang ay pwede ka mangutang sa broker (ang bitfinex) ng hanggang 50% ng dineposit mo sa margin account mo. kung kagaya mo ako na nag-uumpisa pa lang sa trading, mas mabuti kung wag ka muna mag margin trading para hindi ka mapressure na kumita agad sa investment mo. Ito ay pang shortterm investment lang kasi may babayaran kang interest pag nagamit mo na ang margin mo. Halimbawa, nagdeposit ka ng $500, ang pwede mo gastusin sa margin account mo ay $1000. Pero kung hindi ka pa lumagpas ng 500,  wala ka pang interest na babayaran.

kaya kung balak mo bumili at mag hold lang as investment, wag ka magmargin.





ask ko lang how much btc ang pwede e start sa trading? and as a begginer san maganda magtrade,poloniex or yobit?

[BitTyro]

wala namang minimumum sa mga trading platforms. pero syempre, kung mas malaki ang puhunan mo, mas marami kang mabibili, at mas marami ka maibebenta pag nag profit ka na.

As a beginner, mas safe kung buy and hold (HODL'ers, welcome to the club) ka na lang muna. But if you are willing to take the risk, you can do day trade.

I may sound bias, pero mas comfortable ako magtrade sa polo.

[Emworks]

wala namang minimumum sa mga trading platforms. pero syempre, kung mas malaki ang puhunan mo, mas marami kang mabibili, at mas marami ka maibebenta pag nag profit ka na.

As a beginner, mas safe kung buy and hold (HODL'ers, welcome to the club) ka na lang muna. But if you are willing to take the risk, you can do day trade.

I may sound bias, pero mas comfortable ako magtrade sa polo.


buy low sell high muna as begginner ok din yun habang kinakapa ang trading,i saw un bitfinex maganda un margin trading nila kaso parang nalilito ako pano start un.siguro ill try muna your suggestion mo.you said "day trade" you mean ba un short and long selling?

[BitTyro]

buy low sell high muna as begginner ok din yun habang kinakapa ang trading,i saw un bitfinex maganda un margin trading nila kaso parang nalilito ako pano start un.siguro ill try muna your suggestion mo.you said "day trade" you mean ba un short and long selling?

Pag sinabing day trade, bibili ka at ibebenta mo rin sa araw na yun. Kailangan mo lang ng medyo malaking puhunan para maleverage mo yung mga maliliit na price adjustments sa market. Kung kaya mo din lang, maganda ang day trade kasi malalaki yung mga price flactuations ngayon. Halimbawa, nakabili sa halagang $390, at pag umabot sa $420 at kuntento ka na sa profit mo na $30, pwde ka na magbenta.

[Emworks]

ok pla trading para nga lang sugal,high risk

pero mas ok atleast alam mo kung pano ka nag earn and na lose ng btc,compare sa lately ko experience, i lose 30k worth of btc.

mukhang kailangan pa more knowledge sa trading.before ko yan e start.

[Emworks]

idol how long have you been sa buy and sell ng btc?

[BitTyro]

idol how long have you been sa buy and sell ng btc?

medyo matagal na din ako nagbibitcoin. pero bumili lang ako last October ng ilang btc. Yung 0.5 ang ginagamit ko ngayon sa trading at yung iba nasa cold wallet. hold ko muna habang nag-aabang ng halving.

May tinitignan nga ako ngayon na altcoin at mukhang may kinabukasan dun. ahahaha. nagtry lang ako bumili then hold lang muna.

[Dabs]

Meron akong kwento sa inyo.

In 2013, mga December, bumili ako ng 1 or 2 bitcoin. Na trade ko sya to litecoins. Ang value yata noon was $10 USD yung litecoins.

Literally overnight, tumaas yung litecoins to $20. (Or it could have been from $20 to $40, basta nag double).

So, I traded it back to bitcoins.

Then yung bitcoins tumaas din ang value by January 2014.

So binenta ko.

Nag quadruple yung pera ko.

Ang sayang, kasi ang ginamit ko lang na pera was equivalent to maybe $1000 USD, or mga about 40,000 pesos.

So, I made about 40k pesos nga. Sana dinagdagan ko ng zero sa dulo, (so sana 400k, or 4M and kinita ko, hehe.)


Anyway, hindi na mangyayari ang ganyan kalaki na pag akyat o baba ng value ng bitcoin short term. Ang pwede mo gawen, is to buy every month or every week, set aside an amount just to buy bitcoin, pa kaunti unti, for this whole year 2016.

Then wag mo galawen. Wag mo withdraw. Wag mo gamitin. Itago mo lang, or maybe invest mo sa mga gambling sites na matino (like mine, or any of the other big ones.)

If you keep it for the long term, then posible mag double or quadruple and value ng lahat ng binili mo, peso cost averaged.

Example, bumili ka ng 5000 worth per month, in 10 years, kung no change in value, you will have 600,000. But with the increase in value, you might be holding 1M worth, or more.

Ang pinaka sayang, is na abutan ko sa 2012 ang bitcoin. 1 BTC = 200 pesos only. pak sheet! eh, kung bumili ako ng marami noon, kaso lang nga, wala naman exchanges dito sa pinas, sa mga local traders lang, or mag wire transfer ka pa sa abroad.

Imagine, pay 100,000.00 pesos, get 500 bitcoins in 2012. (Or pay 1M, get 5000 bitcoins).

Eh di ngayon, meron sana 10M to 100M pesos.

[Dekker3D]

Meron akong kwento sa inyo.

In 2013, mga December, bumili ako ng 1 or 2 bitcoin. Na trade ko sya to litecoins. Ang value yata noon was $10 USD yung litecoins.

Literally overnight, tumaas yung litecoins to $20. (Or it could have been from $20 to $40, basta nag double).

So, I traded it back to bitcoins.

Then yung bitcoins tumaas din ang value by January 2014.

So binenta ko.

Nag quadruple yung pera ko.

Ang sayang, kasi ang ginamit ko lang na pera was equivalent to maybe $1000 USD, or mga about 40,000 pesos.

So, I made about 40k pesos nga. Sana dinagdagan ko ng zero sa dulo, (so sana 400k, or 4M and kinita ko, hehe.)


Anyway, hindi na mangyayari ang ganyan kalaki na pag akyat o baba ng value ng bitcoin short term. Ang pwede mo gawen, is to buy every month or every week, set aside an amount just to buy bitcoin, pa kaunti unti, for this whole year 2016.

Then wag mo galawen. Wag mo withdraw. Wag mo gamitin. Itago mo lang, or maybe invest mo sa mga gambling sites na matino (like mine, or any of the other big ones.)

If you keep it for the long term, then posible mag double or quadruple and value ng lahat ng binili mo, peso cost averaged.

Example, bumili ka ng 5000 worth per month, in 10 years, kung no change in value, you will have 600,000. But with the increase in value, you might be holding 1M worth, or more.

Ang pinaka sayang, is na abutan ko sa 2012 ang bitcoin. 1 BTC = 200 pesos only. pak sheet! eh, kung bumili ako ng marami noon, kaso lang nga, wala naman exchanges dito sa pinas, sa mga local traders lang, or mag wire transfer ka pa sa abroad.

Imagine, pay 100,000.00 pesos, get 500 bitcoins in 2012. (Or pay 1M, get 5000 bitcoins).

Eh di ngayon, meron sana 10M to 100M pesos.

Wow 200 pesos. Sana may coins.ph na nun. Siguro kung ganyan ang price ng bitcoin ngaun walang mag signature campaign kasi maliit lang din ang kikitain pero baka naman mataas ang rewards.

[Naoko]

@Dabs pwede ba malaman kung pano mo nalaman ang bitcoin? kasi sakin nakita ko lng to dahil sa coinurl na link shortener tapos may bayad kaya visit dun sa link

[jonathgb25]

ok pla trading para nga lang sugal,high risk

pero mas ok atleast alam mo kung pano ka nag earn and na lose ng btc,compare sa lately ko experience, i lose 30k worth of btc.

mukhang kailangan pa more knowledge sa trading.before ko yan e start.

Madali lang ang trading, basta "buy low, sell high" lang yan. Ang mahirap lang sa trading ay ang forecasting ng mga value kasi kailangan expert ka sa pag-analyze ng candlestick analysis at iba pa.

[Dabs]

@Dabs pwede ba malaman kung pano mo nalaman ang bitcoin? kasi sakin nakita ko lng to dahil sa coinurl na link shortener tapos may bayad kaya visit dun sa link

I don't remember. I had just heard about it in 2012, maybe a few months before I registered in this forum. Then I studied it, made wallets, helped newbies, ... You really should understand the high-level concept of bitcoins in several weeks, or even months. The details and the implications of the technology were not understood then, except for the deflationary nature of bitcoin that allowed people to predict the price of the coin as far back as 2012.

But of course, not too may people believed, or were skeptical. Bitcoin has been dying, died, or is dead for the past 7 years. Yun ang sabi nila. Eh, ano ... vampire? walking dead? hahahaha.

Hindi na mawawala ang bitcoin basta meron internet. The only question is value or price. Most people think that the value will only increase in the future.

[Emworks]

idol dabs nabanggit mo 2012 ka pa nag bibitcoin mamaw  ka na sa bitcoin lately lang kasi ako na invloved sa bTC .
may na basa ko na umabot sa $1000+ per bitcoin ang value do you think possible pa ba na tumaas sya ng ganun price?

isa kasi un sa napapanganga ako from cent to thousand dollar ang value ng bitcoin,possible pa kaya idol dabs?