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Author Topic: First trade of altcoin, I am on the right direction ?  (Read 1392 times)
RedX
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May 11, 2017, 01:29:43 AM
 #21

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 sir, you are on the right track. That is how really trading works but I will advise to also start study those altcoins that you are going to trade because you never know whether its just a shitcoin whose devs trying to make big profits on fools.
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May 11, 2017, 01:47:52 AM
 #22

That is not the real trading because you don't have enough basis in buying and selling altcoins. If i were you i will just stop trading for the mean time and study the market and understand it first before doing anything because that is a big amount that you are risking in trading and based on your performance you don't have basis so you are tend to loss.

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May 11, 2017, 09:35:38 AM
 #23

Quote
now the important question that you should be asking is "when and why would people buy and when and why do people sell"

Very good point. Any thoughts how to do it ? Wink
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May 11, 2017, 04:06:33 PM
 #24

Be aware with the buy low sell high tips which is actually very risky. I have experienced that with myself. Recently I traded two alt coins that is AL and TRICK which I bought at 1 BTC = AL 0.0000027 and 1 BTC = TRICK 0.0004700. I thought, (well) that was the lowest they had in few weeks of period. With that price I crossed my fingers for next week and if you go and check the price of theses coins today then are AL at 0.0000001 and TRICK is at 0.00000110. That is the heaviest loss I ever had.  Huh

So, it is not just about buying and selling at low/high it is more than that. You have to learn how the market moves, who is stronger candidate in the market. That is the way to ride this beauty with beast.  Roll Eyes

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May 11, 2017, 05:44:48 PM
 #25

you bought and sold xrp based on what?
Good catch. Now I am just reading OP again, but he has not mentioned any strategy he has followed for making those profits. He just got profits from the rally XRP got few days back but not based on any solid researches which must be essential for repeating same type of profitable trading.

The just want to call OP's first trade is fully based on luck. When we are missing the analytical part of trading, in long run we may get stuck with some position which will be giving negative income.
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May 11, 2017, 07:42:23 PM
 #26

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.


Good for you and am happy you were able to gain that much from ripple. From coinmarketcap price index I sow since last week that the price has double and even trading over 200% profit for a week.



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May 11, 2017, 07:46:40 PM
 #27

Let's see, you just successfully traded altcoins and made a profit.   What's your question again?   You just came here to brag, right?  Be honest.  And I'll be honest: You got lucky.  But trading in shitcoins is super risky,  and I'm sure you won't return once you start losing money.   No one ever does.
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May 11, 2017, 07:50:37 PM
 #28

I think you can learn a lot about exchanges and trading with alts. But Alts are almost all a joke and worth little to most of us (nothing to me). Time to step up to real money, by that I mean bitcoin.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin in ICELAND - https://bitcointalk.org/index.php?topic=1610684
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May 12, 2017, 02:35:35 AM
 #29

I think you can learn a lot about exchanges and trading with alts. But Alts are almost all a joke and worth little to most of us (nothing to me). Time to step up to real money, by that I mean bitcoin.
It is a joke for you because you can't earn money and didn't know how to trade altcoins so you are just saying almost of the Altcoins are just a joke. For me, Altcoins is one of the best way to grow our bitcoin and earn a lot of profit if you know how to trade well and you are not always greedy in buying and selling altcoins. Buying and holding bitcoin will take a lot of time for you to be rich.

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May 12, 2017, 06:54:46 AM
 #30

Let's see, you just successfully traded altcoins and made a profit.   What's your question again?   You just came here to brag, right?  Be honest.  And I'll be honest: You got lucky.  But trading in shitcoins is super risky,  and I'm sure you won't return once you start losing money.   No one ever does.

To brag that I earned like $0.30 ? Cheesy no, mate, I am not bragging. And I know it was a luck as I am just starting and know almost nothing about trading. I saw from charts that price was dumped and bought some coins and waited for the price to increase again. Now have done 4 times this move and all was successful, but I agree that this is luck, because I havent learned how to read charts and actually don't know and can't predict the price increase or decrease.

So because of what I created this thread to learn more.
The price of the coin increasing due to people buying coins, price decreasing if people selling the coin.
I think if the bitcoin price increasing, alt coins price will decrease because everybody selling alts to get bitcoins, and if the price of btc decreasing, people buying alts.
Not sure if I am correct.

But what else makes people buy and sell particular coins?
What is your strategy to read the chart's, to understand how market moves, to make price predictions ?
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May 12, 2017, 07:31:57 PM
 #31

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.
Wow! This is an excellent start for you. Now just keep one thing in mind to control your emotions and also the emotion of greed to earn more in a less time.

All the human being are greedy by nature but the best one are those who controls it and make their way go easy. I still remember my first trade which was not too good to motivate but I learned a lesson from it and started again and I am successful making minimum 3 bitcoin a month easily now.



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May 12, 2017, 10:02:21 PM
 #32

Well of course if you're making money you're doing something right. However you need to know if you place a new buy order you should try to do research and make a rational decision not an emotional one. You're already into a coin such like ripple, it can be quite tricky so maybe try reliable coins (LTC, ETH, DASH,..) instead a token like ripple.
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May 13, 2017, 03:49:53 AM
 #33

Well of course if you're making money you're doing something right. However you need to know if you place a new buy order you should try to do research and make a rational decision not an emotional one. You're already into a coin such like ripple, it can be quite tricky so maybe try reliable coins (LTC, ETH, DASH,..) instead a token like ripple.
Ripple is a good altcoin as long as you know how to play their game because in the past few days, the ripple is experiencing pump and dump because of the big whales that are keep playing the market of ripple. It is best to have knowledge and don't focus on making money instead so you are tend to be in the right direction.

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May 13, 2017, 08:33:43 PM
 #34

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
Yes the analysis of one’s self is very important it is basically to analyze the strategy that you are working on.  No matter if you earn or lose but the strategies need to be reviewed at every next business activity that you want to start. The analytical skills are very important for a business person. If your analytical skills are good you will never lose your investment.

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