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Author Topic: how to trade efficiently?  (Read 1895 times)
Jating
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December 13, 2017, 02:12:15 AM
 #21

I know that it varies from people to people and their strategies but there must be some important and basic points which people tend to forget all the time .
Of course I don't want you to reveal your trading strategy but some good tips that would really help me out.

One thing I really learned from doing trading and become successful is that you have to be prepared. It means treat everyday differently. It will not be the same success day in day out. And if you are not comfortable get out early and don't pressure yourself.

Emotions are the worst enemy of a trader in any market, specially in bitcoin, so you need to check your emotions and tossed it out and get rid of it. Don't react to the market impulsively, used all the tools at your disposal to make a sound judgement.

As far as reading the graphs, it will come to you, you don't have to worry. It will come as you gained experienced. Most traders used TA, but I believed that there are successful ones who doesn't used it at all.

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December 13, 2017, 05:02:24 AM
 #22

I know that it varies from people to people and their strategies but there must be some important and basic points which people tend to forget all the time .
Of course I don't want you to reveal your trading strategy but some good tips that would really help me out.

First of all you need understand how risky trading is, because if you do not understand it most likely you will get emotional and be illogical when trading. If you think you can control your emotions when trading then study technical analysis there are thousands of tutorial videos in the internet,  You do not need to learn chart reading specifically in crypto currency chart for stock market and forex are okay because all of them has the same concept. Practice by creating a demo account, do not rush creating a live account. If your trade are  winning in Demo account it does not guarantee that it will be the same in the live account but at least you have some experience in trading.
Diversify but do not over diversify i personally have three to five coins for trading but I am holding a few more on my long term. Also do not listen to some random person in the internet all of has their own motive, you will notice this in social media like facebook and telegram ignore them do your own research.
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December 15, 2017, 08:38:22 AM
 #23

I know that it varies from people to people and their strategies but there must be some important and basic points which people tend to forget all the time .
Of course I don't want you to reveal your trading strategy but some good tips that would really help me out.

One thing I really learned from doing trading and become successful is that you have to be prepared. It means treat everyday differently. It will not be the same success day in day out. And if you are not comfortable get out early and don't pressure yourself.

Emotions are the worst enemy of a trader in any market, specially in bitcoin, so you need to check your emotions and tossed it out and get rid of it. Don't react to the market impulsively, used all the tools at your disposal to make a sound judgement.

As far as reading the graphs, it will come to you, you don't have to worry. It will come as you gained experienced. Most traders used TA, but I believed that there are successful ones who doesn't used it at all.
It needs a lot of homework and concentration to be successful trader. It is important to have understanding of the current market where you want trading or investment. It also depends on the capital you are willing to invest in the market or trading. Trading requires great efforts which need time, if someone have sufficient time for his day trading then he should start from minimum of his capital and those having no time should opt for long term investment.
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December 15, 2017, 08:44:19 AM
 #24

I know that it varies from people to people and their strategies but there must be some important and basic points which people tend to forget all the time .
Of course I don't want you to reveal your trading strategy but some good tips that would really help me out.

First of all, leave day trading to the bots! Go for longer term trades on recently heavily dumped coins. Don't diversify too much, and don't buy small amounts of a lot of coin. You will end up only with scraps. Concentrate on few well researched coins instead. Hunt down coins with solid, new technology and buy the dips.
And stay away from pump groups. The good ones are closed clubs with rather high buy-in price.
Good suggestions but he can actually make day active trades but depending on how much time he would put up into trading.If time is to hectic then better go for longer terms when it comes on trading cryptos and as being suggested don't diversify too much and it much better to have a few coins but on solid ones rather than on have many but on weaker or doesn't have any potential for long term.This would really matter on how a certain individual would do its just like on researching up important things.
Very good advisers. But how did we know if this coins has a great potential for us to buy more of it. Im just an still newbie at this kind of way. I think I need more advice guys.


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December 15, 2017, 09:04:28 AM
 #25

I know that it varies from people to people and their strategies but there must be some important and basic points which people tend to forget all the time .
Of course I don't want you to reveal your trading strategy but some good tips that would really help me out.

First of all, leave day trading to the bots! Go for longer term trades on recently heavily dumped coins. Don't diversify too much, and don't buy small amounts of a lot of coin. You will end up only with scraps. Concentrate on few well researched coins instead. Hunt down coins with solid, new technology and buy the dips.
And stay away from pump groups. The good ones are closed clubs with rather high buy-in price.

learning new each time I visit this forum, nothing amaze me more than people that share their knowledge for others to benefit. I will use this to further enlarge my stack and help other more, so that I can lessen their burdens. And I will imitate you in sharing my knowledge so others will be saved from poverty and change the life from what they have right now.

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December 15, 2017, 09:24:27 AM
 #26

I think the best strategy is to starts with a small amount of money. Buy when the price dips and sell when the price increases. As you gain experience invest more.

that will be my starting game too.
You better do not use that as your starting game. Let me describe to you what would happen;

1. You will get lucky at first and then you will make some good profit.
2. You will be so happy that you will think you have gotten a good strategy but all you are doing is gambling your positions.
3. You will then start going in big on every dip thinking they are dips most especially on altcoins and then the dip keeps going down the more and then at some point, you start applying the rule of patience and then you see your account almost drained and you sell off out of panic at huge loss.
4. You come back to this forum and then open a topic and say trading sucks and you are quitting.
 
If you trade without strategies, then you are gambling. These are just some of the scenarios that could happen, it is just the best case scenario. It could be worst. My advise is for you to go and learn and stop taking trading as buy low, sell high because you will regret that decision.



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December 15, 2017, 09:29:52 AM
 #27

My trading strategy is search a potential coin , the easy way for this is pay a signal service
and avoid to pump group
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December 15, 2017, 10:55:41 AM
 #28

I know that it varies from people to people and their strategies but there must be some important and basic points which people tend to forget all the time .
Of course I don't want you to reveal your trading strategy but some good tips that would really help me out.

One thing I really learned from doing trading and become successful is that you have to be prepared. It means treat everyday differently. It will not be the same success day in day out. And if you are not comfortable get out early and don't pressure yourself.

Emotions are the worst enemy of a trader in any market, specially in bitcoin, so you need to check your emotions and tossed it out and get rid of it. Don't react to the market impulsively, used all the tools at your disposal to make a sound judgement.

As far as reading the graphs, it will come to you, you don't have to worry. It will come as you gained experienced. Most traders used TA, but I believed that there are successful ones who doesn't used it at all.
It needs a lot of homework and concentration to be successful trader. It is important to have understanding of the current market where you want trading or investment. It also depends on the capital you are willing to invest in the market or trading. Trading requires great efforts which need time, if someone have sufficient time for his day trading then he should start from minimum of his capital and those having no time should opt for long term investment.
Trading needs skills especially in analyzing data. Trading is fun and a risky business because basically its only buy and sell. Its just you need to be wise to get a huge profit.

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December 15, 2017, 10:57:50 AM
 #29

I'd like to add that efficient traders no longer need to follow 'Gurus' or ask for the opinion of other traders. They follow their own system based on their previous bad and good trades.
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December 15, 2017, 11:08:54 AM
 #30

first you need to know a lot of information about what you want to trade. then identify the nature and movement of trading. because some coins have a time when there is a very aggressive price movement that will certainly make a profit. and most importantly do trading with analysis not by heart
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December 15, 2017, 11:49:13 AM
 #31

first you need to know a lot of information about what you want to trade. then identify the nature and movement of trading. because some coins have a time when there is a very aggressive price movement that will certainly make a profit. and most importantly do trading with analysis not by heart
Better hold it for long especially its a potential coim, there are many alts already that are in top bit have only a less value before, if not into day trading better hold it a bit.

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justdimin
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December 16, 2017, 08:52:15 AM
 #32

I think the best strategy is to starts with a small amount of money. Buy when the price dips and sell when the price increases. As you gain experience invest more.

that will be my starting game too.
A lot of people keep making this huge mistake and looking only for dips and watching out for when the increase will come. You need to know what you are doing, and also analyze chats. Even at dips, you need to wait for the right moment to get in because what you are looking at as dip, may not even be the last moment of dip yet.

Learn, learn and learn even if you want to start with small and stop thinking you can gain the experience by just starting and then learn from it.
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December 16, 2017, 10:36:58 AM
 #33

My strategy is to set my trading plan carefully and follow it. I will also research the potential coins before jumping into it. I try to avoid pump so that I won’t be dumped on.
Well for me I've prefer to watch over the value if it is peaking then i will grab the oppprtunity.
As a trader we must hunt the true value and the right time so in order to be effecient I must follow the steps so that it wont be risky and most important to be active so that I always know whats happening on it.
pushkarmore
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December 16, 2017, 10:47:09 AM
 #34

Each and every trader has his own different trading style depending on their trading timeframe and trading approach. If you are an intraday trader and expecting some intraday tips from me then i would tell that you better use dow theory in intraday trading which really has good profit potential and also try to trade with the daily and weekly trend in action coins. For delivery trading, you better go for Multi timeframe analysis which is called top-down approach or bottom-up approach, which is having good potential to give you good trades with a bigger profit margin.

beerlover
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December 16, 2017, 12:49:36 PM
 #35

I know that it varies from people to people and their strategies but there must be some important and basic points which people tend to forget all the time .
Of course I don't want you to reveal your trading strategy but some good tips that would really help me out.

First of all, leave day trading to the bots! Go for longer term trades on recently heavily dumped coins. Don't diversify too much, and don't buy small amounts of a lot of coin. You will end up only with scraps. Concentrate on few well researched coins instead. Hunt down coins with solid, new technology and buy the dips.
And stay away from pump groups. The good ones are closed clubs with rather high buy-in price.
Good suggestions but he can actually make day active trades but depending on how much time he would put up into trading.If time is to hectic then better go for longer terms when it comes on trading cryptos and as being suggested don't diversify too much and it much better to have a few coins but on solid ones rather than on have many but on weaker or doesn't have any potential for long term.This would really matter on how a certain individual would do its just like on researching up important things.
Very good advisers. But how did we know if this coins has a great potential for us to buy more of it. Im just an still newbie at this kind of way. I think I need more advice guys.
Start with the team, start with the price at the ICO, see from the whitepaper if it is a project or a product you would buy and then see if the team will have all it takes to push it to the top. From there, you will know if it is still undervalued or not and the chances of it getting to the peak and then you can make your decisions based on that.

You still have to live room for errors though, not all companies will survive, but by doing this, you can at least be rest assured that you are going to do great as an investor.
reronggo
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December 16, 2017, 12:58:28 PM
 #36

I know that it varies from people to people and their strategies but there must be some important and basic points which people tend to forget all the time .
Of course I don't want you to reveal your trading strategy but some good tips that would really help me out.

First of all, leave day trading to the bots! Go for longer term trades on recently heavily dumped coins. Don't diversify too much, and don't buy small amounts of a lot of coin. You will end up only with scraps. Concentrate on few well researched coins instead. Hunt down coins with solid, new technology and buy the dips.
And stay away from pump groups. The good ones are closed clubs with rather high buy-in price.
Good suggestions but he can actually make day active trades but depending on how much time he would put up into trading.If time is to hectic then better go for longer terms when it comes on trading cryptos and as being suggested don't diversify too much and it much better to have a few coins but on solid ones rather than on have many but on weaker or doesn't have any potential for long term.This would really matter on how a certain individual would do its just like on researching up important things.
Very good advisers. But how did we know if this coins has a great potential for us to buy more of it. Im just an still newbie at this kind of way. I think I need more advice guys.
Start with the team, start with the price at the ICO, see from the whitepaper if it is a project or a product you would buy and then see if the team will have all it takes to push it to the top. From there, you will know if it is still undervalued or not and the chances of it getting to the peak and then you can make your decisions based on that.

You still have to live room for errors though, not all companies will survive, but by doing this, you can at least be rest assured that you are going to do great as an investor.
all of what i can comperehend with your post is doing a research or analyze very deeply each coin before listed on market. i agree, a coin which has solid team will be good coin to choose as investment. personally, i'm getting hard to analyze such particular coin to be conveyed as potential coin.

julzcoinbit
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December 16, 2017, 01:22:54 PM
 #37

I know that it varies from people to people and their strategies but there must be some important and basic points which people tend to forget all the time .
Of course I don't want you to reveal your trading strategy but some good tips that would really help me out.

Being a good trader especially on day trader you must have a full time to monitor coins price in the market whether it dumps or pumps, time consumed is there wasting electricity for looking a little money. And then analized and have a researched of coins you invested for. Why not you try in long term investment you just pick up a solid and trusted coins from crypto market and then keep and save.
I strongly recommend with you bitcoins.

I agree on your point dude, it's really hard to be trader which you need a fulltime on doing it. In my part, it's really time consuming and in some point I want to give up but eventually I didn't give up I'll try to monitor from time to time in order to be the first to know the update of the altcoin I want to trade. A long way to run in order to have a profit, though you need enough patience to wait so that you can have thay profitable income you've been waiting for. Also, you need to hold some altcoins if you want to hold as much as you want then if you feel that its a good value that makes you feel its comfortable, well for sure you can have a profit.
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December 16, 2017, 02:01:14 PM
 #38

I know that it varies from people to people and their strategies but there must be some important and basic points which people tend to forget all the time .
Of course I don't want you to reveal your trading strategy but some good tips that would really help me out.

Not sure about the fool proof technique that are used in the trading but I would really just do the normal swing trading as always done by entry level person or even the less risk taker. I have always done it that way only and it works for me. I have full control over my emotions thats the first thing you should acquire within you. If the patience are there and you are ready to hold for long terms then nothing can stop you from winning the market. Whatever I do might be more or less investment really but as I do it the buy/sell way I am sure its part of the trade also.


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Low Sigma
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December 16, 2017, 02:02:21 PM
 #39

I know that it varies from people to people and their strategies but there must be some important and basic points which people tend to forget all the time .
Of course I don't want you to reveal your trading strategy but some good tips that would really help me out.

Start by automating some of your tasks, learn Python or pay someone to code it for you.

Before entering into a trade, always think ahead "what I'm going to do if the market is going -10% against my trade?" Or in other words: stress test your trades. So when that -10% will come, you will know exactly what to do and execute the next step with your clear mind, not stressed and driven by emotions.
DuaLipa
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December 16, 2017, 02:04:42 PM
 #40

I know that it varies from people to people and their strategies but there must be some important and basic points which people tend to forget all the time .
Of course I don't want you to reveal your trading strategy but some good tips that would really help me out.

Efficiency is a complicated and complex term, but when you trade altcoins or bitcoin, you need to act fast, and you need to react well against market news and all the rumors taking place. Rumors are to fool you.
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