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Author Topic: First trade of altcoin, I am on the right direction ?  (Read 1392 times)
dossantosleite
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May 09, 2017, 01:09:38 PM
 #1

Made my first trade on poloniex.
Bought some xrp coins worth of 18,80USD and successfully sold for 19,30USD.

It's not much, but I just bought some coins, and made sell order a bit bigger price and it reached it and automatically sold. I am on the right track ?

For example. I now put buy order again a bit lower price and will wait till it will reach.And next put a bit higher price and wait till reach this point again.

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May 09, 2017, 07:38:01 PM
 #2

That´s the theory. buy low, sell high. the only problem is that you dont ever know where is the peak and can be stuck with is called a bag...
To buy like that you should choose "good" coins and try to figure out if they are not to pumped..you will certaily get a bag, but if it is a bag of a coin with pottencial it will eventually come back. if not you can end up with a bag full of nothing.

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May 09, 2017, 08:35:48 PM
 #3

You're on the right direction for day trading maybe, but altcoins have much more wild fluctuations than that and when you lose, you'll lose big.  The most successful traders will buy in when people think that altcoins are dying and sell when people think they're going to take over Bitcoin.  It's all about other people's sentiment and your own - sometimes you have to ignore it and do the opposite because what you feel is exactly what whales who make big money from it want you to feel.
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May 10, 2017, 05:51:21 AM
 #4

As long as you are making money from trading you are on right track, now you need to analyze why you can make profit, from which factors you're making decision to purchase ripple, you can learn while you trade, always learn from every trade you made and now is the right time to trade alt coins because most of the coin is going up

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May 10, 2017, 07:02:09 AM
 #5

Op is quite good in his trading strategy buying low and selling high. This won't be possible everytime, so to profit during those time is the perfect learning of trading. This is possible only through long time experience gained in the process of continued involvement into trading activities.


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May 10, 2017, 07:15:02 AM
 #6

Imo the best way in trading is following a professional you will lose less, and earn more. The problem here is.. Where to find that person  Grin
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May 10, 2017, 07:40:16 AM
 #7

Made my first trade on poloniex.
Bought some xrp coins worth of 18,80USD and successfully sold for 19,30USD.

It's not much, but I just bought some coins, and made sell order a bit bigger price and it reached it and automatically sold. I am on the right track ?

For example. I now put buy order again a bit lower price and will wait till it will reach.And next put a bit higher price and wait till reach this point again.



Yes , you are on the right track as you have invested in the hottest coin on poloniex i.e XBY. Next time you should wait for some more time after buying a coin, this way you can even get more profits in trading.

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May 10, 2017, 07:42:42 AM
 #8

Imo the best way in trading is following a professional you will lose less, and earn more. The problem here is.. Where to find that person  Grin

if profesional trader with contanst profit and big earn from trading
is never share trick, never share knowledge, no share signal, no signal selling
except open pump service


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May 10, 2017, 07:46:39 AM
 #9

This is how pyramids form, while you bought whatever that is with whatever price you were buying from someone else just like you who had his/her order to sell at that price and someone else like you also bought your coins from you and some other person must buy from him higher or else he will suffer loss of funds, is the community behind the said coin strong to buy the higher prices every time?

The one benefiting here are the ones controlling the supply, having most of the supply, and when no one willing to pay a higher price then those poor coin traders will have to either hold their coins which it wont earn then any money while they're holding or sell with lower prices.

If you buy a coin for $1 each and then sell for $1.5 you'll not going to buy back from someone dumping for them for $2 will you? because you sold for $1.5 so you'll wait for it to go down lower than $1.5 to buy in again.
Aka pyramid, most of the people will suffer and hold the heavy weight, if you try to stay on top of the pyramid then you'll have to invest large amounts thus becoming a big whale earning while others are losing.
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May 10, 2017, 08:50:26 AM
 #10

Op is quite good in his trading strategy buying low and selling high. This won't be possible everytime, so to profit during those time is the perfect learning of trading. This is possible only through long time experience gained in the process of continued involvement into trading activities.
Professional and skillful traders did not buy low and sell high! But buy high and sell higher or sell low and sell lower. Don't undermined the power of volumes and trend in trading because this is what drive the market to the particular direction.

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May 10, 2017, 09:11:39 AM
 #11

Imo the best way in trading is following a professional you will lose less, and earn more. The problem here is.. Where to find that person  Grin
Even professional traders experienced losing their money, i dont think following other person will make you earn more but you can follow som of their tips. If they will buy a specific coin it does not mean you will also but that coin

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aubert
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May 10, 2017, 09:35:49 AM
 #12

Imo the best way in trading is following a professional you will lose less, and earn more. The problem here is.. Where to find that person  Grin

if profesional trader with contanst profit and big earn from trading
is never share trick, never share knowledge, no share signal, no signal selling
except open pump service
That's about to right, why the heck a professional trader will share their daily trades, if people get profit out of following this trader they'll more likely to say nothing but if they're losing because of following this trader as well, they blame this trader. Sharing daily trades is just unnecessary for me, maybe someone also does.
Though, if you're always following those professionals activity, you'll never develop a decent skill, but still, gain profit out of it until you lost connection with those professionals.

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zidanw
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May 10, 2017, 12:28:52 PM
 #13

Imo the best way in trading is following a professional you will lose less, and earn more. The problem here is.. Where to find that person  Grin

if profesional trader with contanst profit and big earn from trading
is never share trick, never share knowledge, no share signal, no signal selling
except open pump service
That's about to right, why the heck a professional trader will share their daily trades, if people get profit out of following this trader they'll more likely to say nothing but if they're losing because of following this trader as well, they blame this trader. Sharing daily trades is just unnecessary for me, maybe someone also does.
Though, if you're always following those professionals activity, you'll never develop a decent skill, but still, gain profit out of it until you lost connection with those professionals.
Yes if lost then they will blame him so it would be better not to give a signal or anything for trading, you will learn something after doing in trading.
For the OP sometimes it does not go according to our wish (price does not rise), we have to see market situation whether there is buy/sell wall and volume.

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torry28
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May 10, 2017, 12:48:50 PM
 #14

Made my first trade on poloniex.
Bought some xrp coins worth of 18,80USD and successfully sold for 19,30USD.

It's not much, but I just bought some coins, and made sell order a bit bigger price and it reached it and automatically sold. I am on the right track ?

For example. I now put buy order again a bit lower price and will wait till it will reach.And next put a bit higher price and wait till reach this point again.


You already made a great job with your first trade mate! Congratulations. Doesn't matter how big or small profit you made, as long as it's profit, you already do what other traders do too Wink
No one can know when is the right time to buy and sell, there are only predictions and speculations. The only one you must know is, don't regret when you decide to trade.

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amacar2
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May 10, 2017, 12:54:36 PM
 #15

You are right on buying low and selling high but you can't depend on same price range. You have to read charts before putting anything in any coin, only buy something when there is some uptrend and quickly sell them when it surges a little bit if you like to make profit with day trading. Day trading is both profitable and risky, so make your move according to market rather than your emotions.

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dossantosleite
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May 10, 2017, 01:07:21 PM
 #16

You are right on buying low and selling high but you can't depend on same price range. You have to read charts before putting anything in any coin, only buy something when there is some uptrend and quickly sell them when it surges a little bit if you like to make profit with day trading. Day trading is both profitable and risky, so make your move according to market rather than your emotions.

Yeah, right now I really don't understand and unable to read the charts... i understand what the candles mean, but dont understand clearly how they are moving and how we can predict movements.

So if i understand right, if the price is droping it means that people are selling coins, if people start buying same coin, the price would increase ,correct?
BitcoinHodler
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May 10, 2017, 03:29:43 PM
 #17

Made my first trade on poloniex.
Bought some xrp coins worth of 18,80USD and successfully sold for 19,30USD.

It's not much, but I just bought some coins, and made sell order a bit bigger price and it reached it and automatically sold. I am on the right track ?

For example. I now put buy order again a bit lower price and will wait till it will reach.And next put a bit higher price and wait till reach this point again.

it depends!
if you are just making guesses about which way price can go, or mostly hoping it moves in your favor then no you are way off the track.
but if you are analyzing the market, reading charts and some news and then placing the buy/sell orders then yeah you are on the right track.
and these two may seem similar but they are so much different.

Yeah, right now I really don't understand and unable to read the charts... i understand what the candles mean, but dont understand clearly how they are moving and how we can predict movements.
well then that is your mistake.
you should try and learn how these things work, know what a pump and dump is, since you are trading altcoins.
learn to find out why altcoins get pumped and how long that takes.

So if i understand right, if the price is droping it means that people are selling coins, if people start buying same coin, the price would increase ,correct?
correct.
now the important question that you should be asking is "when and why would people buy and when and why do people sell"














 

 

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Rufsilf
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May 10, 2017, 03:38:35 PM
 #18

Made my first trade on poloniex.
Bought some xrp coins worth of 18,80USD and successfully sold for 19,30USD.

It's not much, but I just bought some coins, and made sell order a bit bigger price and it reached it and automatically sold. I am on the right track ?

For example. I now put buy order again a bit lower price and will wait till it will reach.And next put a bit higher price and wait till reach this point again.


Yes you are in the right path because you are buying low and selling high but it is not that easy for you to make profits that often because the market is still unpredictable and there is a lot of things that might happen when you are buying or holding some altcoins. So if you want to be on the right track, make sure to have a great analysis also so you will be on a better bid.

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johnwest
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May 10, 2017, 04:02:54 PM
 #19

Trading is a less risky type of gambling. Prediction and speculations are near to impossible thing nowadays and any coin can become shitcoin. So invest in good projects and hope to get some returns. Just that dont get into emotions when you lose too much.

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missmarvel
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May 10, 2017, 05:40:34 PM
 #20

you bought and sold xrp based on what?
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