Please recommend a good source to study about alt trading

[Emperor of Man]

Hi everyone. How you all been? I hope you're trading successfully and your pocket's full of money.

I've been in bitcoin and altcoin trading market for near a year, and I've read some useful tips here and there. I feel like it's time for me to start studying more advanced sources like good e-books or internet articles, etc...; that help me understand the market and altcoin trading strategies better.  

I'm specially interested in:

- Learning how can someone read the market and charts, to predict the price changes. Specially, finding a good exit point is important! You see guys, many people would have predicted ethereum's price increase a year ago, but even if I was one of those lucky people I would have sold my ETH when it became 2-3 USDs, so I would have missed its 50x price pump much sooner than it happened, and it's the same thing with any other coin, which makes big profit impossible. It bothers me a lot!  

- With lower priority, I want to become good in swing trading and gaining profit of a fast huge pump, like with ETC a few days ago. Like, how can we detect if the price pumps further, or if it's about to dump and it's time to sell and get out.

- Any other good reads that you can suggest, I don't care if it's about trading in general (like forex) or it's about technical analysis. If it's good and helps improve alt trading skills I'll read it, and doesn't matter if it's a large book. I'm a bookworm.  

You see, I have good friends who suggest me good trades and all, but I guess when it's your own analysis and hard work that made you do a good trade, then you will enjoy it a lot more, don't you?  

Thanks in advance.

[eddie13]

Hi everyone. How you all been? I hope you're trading successfully and your pocket's full of money.

I've been in bitcoin and altcoin trading market for near a year, and I've read some useful tips here and there. I feel like it's time for me to start studying more advanced sources like good e-books or internet articles, etc...; that help me understand the market and altcoin trading strategies better.  

I'm specially interested in:

- Learning how can someone read the market and predict the price changes. Specially, finding a good exit point is important! You see guys, many people would have predicted ethereum's price increase a year ago, but even if I was one of those lucky people I would have sold my ETH when it became 2-3 USDs, so I would have missed its 50x price pump much sooner than it happened, and it's the same thing with any other coin, which makes big profit impossible. It bothers me a lot!  

- With lower priority, I want to become good in swing trading and gaining profit of a fast huge pump, like with ETC a few days ago. Like, how can we detect if the price pumps further, or if it's about to dump and it's time to sell and get out.

- Any other good reads that you can suggest, I don't care if it's about trading in general (like forex) or it's about technical analysis. If it's good and helps improve alt trading skills I'll read it, and doesn't matter if it's a large book. I'm a bookworm.  

You see, I have good friends who suggest me good trades and all, but I guess when it's your own analysis and hard work that made you do a good trade, then you will enjoy it a lot more, don't you?  

Thanks in advance.

I like to think of myself as a pretty successful trader. Never made huge money but I made huge %s..

I don't think any kind of chart analysis applies to crypto trading. Maybe pay attention to double tops and corrections in uptrends, and corrections in downtrends.. But I'm talking you are currently watching the 1 minute chart and see it happen real time on the books..

Forget about any news or promises/roadmaps etc.. You want to stare at the charts looking for momentum..

Momentum and hype drive prices, nothing else matters. People panic buy and panic sell..

Stare at the charts/books to see the momentum, stare at the trollbox for the hype/fud..

The trollbox is an extremely useful tool, all tips and info comes from the trollbox. Everything you need..


But in the trollbox its not about what they say, its about their motives for why they are saying what they are saying.. You have to figure out what they are thinking and focus on WHY they want you to think what they are saying is true. What are they doing that makes them want you to believe what they say?

Nobody is going to tell you to buy before they buy, nobody is going to tell you to dump before they dump.. They may be honest while their locked into a position and waiting, maybe not, but when they want you to buy it's because they want it to raise before they sell or they want you to buy so they can sell and vise versa..

VERY very useful..

"If I had any more BTC I'd buy into that wall before its gone" MEANS "My sell order is just under that resistance and I want you to buy it"

"It's dumping, it's going to go through that 4k sat buywall" MEANS "I have a buy just above that 4k sat support trying to catch the falling knife"


Stare at them books untill you get an instinct for that momentum.. 40 hours a week staring at those books. learn to feel how that support comes in and moves a market or how to get your buys in the right spot to catch that falling knife for a dead cat bounce..

Good luck..

[Emperor of Man]

Thank you for your great points. I do follow the trollbox and care about the hype/fud/momentum, so I mostly agree with you. Regarding this part:

I don't think any kind of chart analysis applies to crypto trading.

I've seen people who do read charts proficiently, and predict the market movements well, although I don't know is it any kind of analysis, or what kind of science do they have. I know what you're talking about, and I've also seen many people who tried to analyze the market, and got disappointed after a while. You see, you analyze the BTC market the best you can, concluding it will rise, and all of a sudden Mike Hearn makes a public announcement that mocks all of your prediction skills! lol

But still, there are people who do this well in usual situations when no altcoiny weird announcement or sudden changes have occured, and I wanna know how can someone do this as good as them?

[eddie13]

Maybe it has to do with them having been there done that, seeing the same patterns repeating themselves, like déjà vu..

I mostly traded strictly day trading, like multiple trades a day, never holding overnight.. Trading alts and holding BTC I mean.. Not so much swing trading or anything longer term.. I liked flipping the books with big gaps too.. If you can get 3% between the buy and sell books and flip it 10X thats a good profit..

When looking longer term look for trend changes..

What's the trend been? Downtrend.. What's it doing right now? Going down - - wait
What's the trend been? Downtrend.. What's it doing right now? stabilizing - - wait a bit more
What's the trend been? Downtrend.. What's it doing right now? been stable for once in months - - maybe get in

What's the trend been? Uptrend.. What's it doing right now? Going up - - maybe get in
What's the trend been? Uptrend.. What's it doing right now? stabilizing - - sell or wait a bit longer
What's the trend been? Uptrend.. What's it doing right now? Been stable - - sell
What's the trend been? Uptrend.. What's it doing right now? Going down - - get short

You will be wrong more times than you are right so cut your losses as early as possible if the market turns against you..
If you make 4 trades and loose 2% each time and then one trade you were right and make 12% then you just made about 6%..

Before you even make the trade figure out how much you are going to loose if you want back out or change your mind.. Try to buy where you can dump it back for no more than a 5% loss incase things change or you change your mind..

If the markets are slow/dead right now, and you are just soo addicted to trading that you just have to buy into SOMETHING... You are going to loose..
Wait untill you see a real opportunity instead of trying to plan an imaginary one..

[tokeweed]

Books are helpful but I suggest diving in and start trading.  Nothing beats experience in my opinion.  One useful tip someone taught me is don't try to buy the very bottom and sell at the top.  Just trade the meat of the trend and you'll be fine.

Managing your money and sizing your trades well in relation to how much your funds are will do wonders.  Some people tend to go all in in each trade.  That's a quick way to lose money.  You should conserve your trading money and cut your losses if need be.

[Ubiquoin]

Books are helpful but I suggest diving in and start trading...

Completely true.

The best way to learn is by doing small trades and spreading them out a bit based on how you think things may go.

When things start working for you, do more of the thing that is working.

[eddie13]

Books are helpful but I suggest diving in and start trading...

Completely true.

The best way to learn is by doing small trades and spreading them out a bit based on how you think things may go.

When things start working for you, do more of the thing that is working.

That is a great tactic, but you have to take into consideration that is is much easier to make big %s with smaller BTC because you don't push the market..

When your trading small BTC the market acts like your order doesn't even exist, play low volume coins that have big spreads with small BTC and flip the spread all day long.. 

When your playing with bigger BTC, you place an order suddenly 3 bots jump infront of you, then 2 real people, then the bots jump infront of them, you effectively change the price, and its much harder to get those bigger BTC orders filled..


Play with .01 until you double it, even if you loose it down to .005 turn it into .02, then double it again..
When you accomplish that then you have gained some skill and know what your doing a little bit.. Try bigger BTC..
If you cant do that then maybe you shouldn't invest in trading, or prepare to loose a lot of BTC learning..

[Emperor of Man]

Most of the posts here have been personal opinions of BCT users, which I appreciate.

Also, people mostly believe that we should learn it by doing it (which I have been trying to do for months, and I'm a lot better than what I used to be at the beginning).

Still, I'm waiting for recommendations about good e-books or studies or sources, to boost my experience, since I believe science + experience do magic.

[pereira4]

Hi everyone. How you all been? I hope you're trading successfully and your pocket's full of money.

I've been in bitcoin and altcoin trading market for near a year, and I've read some useful tips here and there. I feel like it's time for me to start studying more advanced sources like good e-books or internet articles, etc...; that help me understand the market and altcoin trading strategies better.  

I'm specially interested in:

- Learning how can someone read the market and predict the price changes. Specially, finding a good exit point is important! You see guys, many people would have predicted ethereum's price increase a year ago, but even if I was one of those lucky people I would have sold my ETH when it became 2-3 USDs, so I would have missed its 50x price pump much sooner than it happened, and it's the same thing with any other coin, which makes big profit impossible. It bothers me a lot!  

- With lower priority, I want to become good in swing trading and gaining profit of a fast huge pump, like with ETC a few days ago. Like, how can we detect if the price pumps further, or if it's about to dump and it's time to sell and get out.

- Any other good reads that you can suggest, I don't care if it's about trading in general (like forex) or it's about technical analysis. If it's good and helps improve alt trading skills I'll read it, and doesn't matter if it's a large book. I'm a bookworm.  

You see, I have good friends who suggest me good trades and all, but I guess when it's your own analysis and hard work that made you do a good trade, then you will enjoy it a lot more, don't you?  

Thanks in advance.

I like to think of myself as a pretty successful trader. Never made huge money but I made huge %s..

I don't think any kind of chart analysis applies to crypto trading. Maybe pay attention to double tops and corrections in uptrends, and corrections in downtrends.. But I'm talking you are currently watching the 1 minute chart and see it happen real time on the books..

Forget about any news or promises/roadmaps etc.. You want to stare at the charts looking for momentum..

Momentum and hype drive prices, nothing else matters. People panic buy and panic sell..

Stare at the charts/books to see the momentum, stare at the trollbox for the hype/fud..

The trollbox is an extremely useful tool, all tips and info comes from the trollbox. Everything you need..


But in the trollbox its not about what they say, its about their motives for why they are saying what they are saying.. You have to figure out what they are thinking and focus on WHY they want you to think what they are saying is true. What are they doing that makes them want you to believe what they say?

Nobody is going to tell you to buy before they buy, nobody is going to tell you to dump before they dump.. They may be honest while their locked into a position and waiting, maybe not, but when they want you to buy it's because they want it to raise before they sell or they want you to buy so they can sell and vise versa..

VERY very useful..

"If I had any more BTC I'd buy into that wall before its gone" MEANS "My sell order is just under that resistance and I want you to buy it"

"It's dumping, it's going to go through that 4k sat buywall" MEANS "I have a buy just above that 4k sat support trying to catch the falling knife"


Stare at them books untill you get an instinct for that momentum.. 40 hours a week staring at those books. learn to feel how that support comes in and moves a market or how to get your buys in the right spot to catch that falling knife for a dead cat bounce..

Good luck..

Not even looking at a chart for trends will help. You may think that after a big fall, something starts going up, and you say "okay, time to buy", but then you find out that right when you buy, it continues going down and you just bought at a small bump in a road that's going down and it's rocky.

Basically there's no way to predict the market unless you have insider information. There are fake huge walls all the time that appear and disappear, single decisions by devs can move entire markets etc.. too much chaos.

[eddie13]

Still, I'm waiting for recommendations about good e-books or studies or sources, to boost my experience, since I believe science + experience do magic.

I started on Cryptsy and didn't even know how to read candle charts so I ended up doing a lot of research on how to read charts and basic patterns in the forex trading field..

Then I watched a ton of these types of daytrading "courses" on youtube..
https://www.youtube.com/playlist?list=PL1xI23WKVWicMYEhxhgWxJ9wfGUR9iP9x

I like how this guy says to forget about fundamentals (news) and trade only on technicals (momentum)..

I don't think I've ever found any great Crypto trading courses that I thought were worth a crap.. My research stayed mostly in forex and stock day trading, strictly day trading..

Sorry I don't have much for specific links, but if you search around in those areas/genres of trading information I think that is where the best available information is..

[Emperor of Man]

Still, I'm waiting for recommendations about good e-books or studies or sources, to boost my experience, since I believe science + experience do magic.

I started on Cryptsy and didn't even know how to read candle charts so I ended up doing a lot of research on how to read charts and basic patterns in the forex trading field..

Then I watched a ton of these types of daytrading "courses" on youtube..
https://www.youtube.com/playlist?list=PL1xI23WKVWicMYEhxhgWxJ9wfGUR9iP9x

I like how this guy says to forget about fundamentals (news) and trade only on technicals (momentum)..

I don't think I've ever found any great Crypto trading courses that I thought were worth a crap.. My research stayed mostly in forex and stock day trading, strictly day trading..

Sorry I don't have much for specific links, but if you search around in those areas/genres of trading information I think that is where the best available information is..

Looks good. Thank you very much.

Did you watch all of the 12 classes? Was it well instructive?

I mean, I have been studying for a few days already, and my antenna detected some so called "instructors" and "masters" whose only concern is to earn profit, by cheating you into buying when they sell, and selling when they buy, with wrong logic and obviously stupid advise! That makes me afraid. Did you find these videos useful and trustworthy? 

[eddie13]

To be honest I think the biggest things I got from forex/stock daydrading videos and reading was the fancy terminology, recognizing basic technical patterns, and getting very used to candle charts.. Pretty much to where I could speak about it in a semi-educated manner..

They don't really teach you nothing about the books iirc. In crypto you have the books, and the books are more important than the charts.. You want to watch the books and see changes in the books not the chart..
The chart is for what has happened, the books are for what is happening NOW and what's about to happen..

I don't really know if I noticed them actually trying to give bad trading advice, but like I said I don't think their style of analysis applies to crypto the same anyway..

It's like reading a manual for a harley trying to figure out how to fix a yamaha..
The major parts are called the same things and do the same jobs but they are nothing alike..  

[ttookk]

I don't think any kind of chart analysis applies to crypto trading.

If enough people are applying technical analysis, there is a high chance of it becoming a self-fulfilling prophecy. This in addition to the small market alt trading is may create its own dynamic, especially since the "outside forces" that normal stocks face are low to non-existent in crypto (i.e. no changing ressource prices and so on).

At this point, though, it becomes a game of outsmarting other traders. If people "know" how the market will act, would you, as a whale act accordingly?

[Bemerand]

Your here, the smartest thing you can do is engage in conversation on here with other users make small investments in some coins and start following news on them, the sooner you begin to take part the sooner you will learn, Bitcointalk.org is the best learning tool you need

[RoseMann]

Your here, the smartest thing you can do is engage in conversation on here with other users make small investments in some coins and start following news on them, the sooner you begin to take part the sooner you will learn, Bitcointalk.org is the best learning tool you need

My words exactly

[Emperor of Man]

To be honest I think the biggest things I got from forex/stock daydrading videos and reading was the fancy terminology, recognizing basic technical patterns, and getting very used to candle charts.. Pretty much to where I could speak about it in a semi-educated manner..

Fair enough. I'll watch them all, and thank you again.

Just one thing: youtube contains a few of the videos, not the whole 12 classes course, right?



Waiting for more recommendations. If you can think of any educational source to study, just state it, or give me the link. Thank you.

[Pursuer]

I don't think you can find anything specifically about trading "altcoins" or even cryptocurrency in general you should start looking for more general trading, like how to trade. that way you can find more recourses like for stock market, forex markets,.... the same rules apply.

something like this: http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis

I don't think any kind of chart analysis applies to crypto trading.

this is both right and wrong
all these analysis are useful but not the whole thing.
you have to know them to make better trades but using them alone is not useful. it is just a tool in your hands.

[raphma]

is hard to find good material and specific about cryptos, so just search for forex. Is almost the same analysis/techniques but with some particularities of each market.
for example, a good material is www.theforexguy.com

[greatr]

when i was learning about altcoin trading i just did the research myself on a wide variety of exchanges, to be honest right now after it i manage to make some profit with trading

[robdark]

interesting thread, do you think the forex charting stuff like head and shoulders etc works for crypto, and how do you see it? cause sometimes you think you asee a pattern and then you are like ehh, no.

What would you guys says is the number one indicator of where a market will go in crypto?