how to trade efficiently?

[Anait]

To trade efficiently you need to be skilled enough to know about the market in a precise manner. Next thing is the funding or the amount required for buying and selling of altcoins to bitcoin as well to other pairs. This don't get you profit every time, so efficiently trading too is possible to some extent.

[1714841093]

1714841093

[1714841093]

1714841093

[1714841093]

1714841093

[Coin_trader]

Trading is like gambling where the risk is very high but if you are cautious and intelligently analyze how the trend goes, you will make more profit. There is no instant money, no instant millionaire at trading, if you can cite some few, it's just a sort of luck and might happen once in a blue moon.
You must know the history of a certain coin, know the trading volume, previous prices and then analyze if you can make profit by buying them in a certain period where the price is going low and there might be a chance of getting high again later and give you some profit.

[super5star]

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.

Trading requires your time – most of your day, in fact. Don’t consider it as an option if you have limited hours to spare. The process requires a trader to track the markets and spot opportunities, which can arise any time during the trading hours. Assess how much capital you're willing to risk on each trade (most successful day traders risk less than 1-2% of their account per trade). Set aside a surplus amount of funds that you can trade with and are prepared to lose (which may not happen) while keeping money for your basic living, expenses, etc.

[NuttyOrange]

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.

Trading requires your time – most of your day, in fact. Don’t consider it as an option if you have limited hours to spare. The process requires a trader to track the markets and spot opportunities, which can arise any time during the trading hours. Assess how much capital you're willing to risk on each trade (most successful day traders risk less than 1-2% of their account per trade). Set aside a surplus amount of funds that you can trade with and are prepared to lose (which may not happen) while keeping money for your basic living, expenses, etc.

Besides from what you have said. It needs to have an extensive knowledge on how to market runs. One must be able to study and master the trading in order to be successful in trading.

[Visbay]

Day trading is risky to starters/new traders, which can make you loss all your investment and no capital at all. It is more better you go for a long term trading plan, buy some few coins (after a good time on research about those coin) when there is dip in there prices and wait for it.

It’s a very good question about trade because I heard that some people they quit their from their trade and it’s a very bad news about it what I believe that trade is a very good source of income I know that some time you will face difficulties in here but on next day everything will be normal and you can take your profit for trade you will have to choose a very good and attractive thing with good price for your customers you can also use discount option for your users.

[upsidedown75]

- Don't buy any coins which are dumping hard or it is pumping hard
- Don't keep shitcoins with zero volume in your bag
- Don't put all your money in only one crypto
- Don't follow FUD/HYPES and buy/sell panicly
- Don't trade with your emotions, go with technical analysis
- Don't use all you have for trading, only use which you can afford to loss.

That last part is extremely necessary and even pro traders who know what they are doing know it is not the best idea to go all in and trading all that you have.

Trading however has been fun, and once you know what you are doing, it would always be so cool when you are making good quality decisions and seeing them coming through as expected and even if they do not, you still always know how to cautiously get out of the trade.

[wuvdoll]

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.

I think daily trading is too much stressful and time consuming. We are trying to make money to be able to do what we wanna do. And all the things we wanna do are gonna make us happy. If you get overwhelmed with daily trading success, you will fail at the first step of being happy. I think it this way. Long term investment to solid coins is the best option in this point of view.

It is highly stressful. I remembered when I started trading like this and I ended up getting myself so worked up than I can ever imagine and if not that I was really using much to trade, which I was able to get some good profit, I would not classify it as something worth it. It is always better instead to look for good trading positions and then do your thing. That is absolutely much better.

The tip to OP is if you are sure you know what you are doing and you have your strategies, you do not need to over work yourself. All you need to do is to always find a good market and use your analysis to find the best position to get in.

with some applications like coinigy, you can set alarms to notify you when that value is hit and then you enter your trade. With that, you can be making a whole lot trading without stress.

[ranman09]

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.

I trade mostly on safe coins like the ones in the top 10 of the coinmarketcap.com. I felt safe with them. Good thing i've read this thread I have been following a chat and they mostly have calls that are up for a second and then down. Seems like those kinds of calls manipulate the market just for a while.

[RealPhotoshoper]

Day trading is risky to starters/new traders, which can make you loss all your investment and no capital at all. It is more better you go for a long term trading plan, buy some few coins (after a good time on research about those coin) when there is dip in there prices and wait for it.

Long term trading needs a proper analysis , otherwise it could be wasteful.
For example , in 2 days you should have gained profit more than 50% if you do day trading with scalping technique.
But as you have a plan to trade it in long term , by the end of the day your plan ended it goes down to -30% guess how much you have lost? Time and value! You still need a proper analysis.

[Xiomara]

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.

I trade mostly on safe coins like the ones in the top 10 of the coinmarketcap.com. I felt safe with them. Good thing i've read this thread I have been following a chat and they mostly have calls that are up for a second and then down. Seems like those kinds of calls manipulate the market just for a while.

Absolutely agree, you should choose coins more carefully, it's better to buy a little but with certainty that it will grow in price. For this, it is necessary to observe the market and study the issues of price changes!

[djselery]

To trade efficiently we need to study carefully the market, the chart, and especially to choose the right coins to buy and trade, which have the most promising potential. Otherwise without this steps the risk of losing is very high, and we can waste our money instead earning.

[ChrisSand]

Better to do in small amount first and let it grow. Then your earnings from that make as your principal investment. Also, be sure to take high risk. Trading is a game, you will not always win.

[acheampong64]

well, there are times where many will be selling their coins, which is mostly when ETH or BTC prices go high, and that's predictably a good time to buy those kind of coins because after they come back to buy, you'll be a great holder. Another strategy is to not just by any coin. Do your background checks very well so yiu don't end up buying scrap. Don't sell all your good coins 😊 always reserve some for the rainy day. to end with, don't ever stop investing!!

[rocketbits]

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 many tricks are done to make trading, the key is to be patient and control the emotions and can know some important information about the market.

These all things should be mixed up and make a shake of them with some vanilla flavor that is wise decisions. Actually trading is not that much difficult, there are some common rules that if to be careered out nicely drying the game, everything just falls in your account. Being patient and controlling over your emotions either good or bad, this will enhance your power of trading.

[TorbiK]

In trading, especially cryptocurrencies, the most important thing is calmness. If you do not rush anywhere and do not give in to spontaneous emotions, earning and trading becomes easy. Follow your rules and do not break them.

[gabmen]

In trading, especially cryptocurrencies, the most important thing is calmness. If you do not rush anywhere and do not give in to spontaneous emotions, earning and trading becomes easy. Follow your rules and do not break them.

Right. It goes hand in hand with being patient and having a clear mind. Its also important not only to be calm and patient but you have to know about the market as well. Read, watch, study and be observant. News about crypto also affects the market soundly.

[SamRobsondd]

In Crypto world efficiently trading is less possible unless you are a long term holder.. say 2-3years

Its better to buy GunBot, which is extremely effective for me and does 100's of trades in a day

Best automated Crypto trading bot for Poloniex, Bittrex, Binance, Kraken, BitFinex Exchange

Available at https://www.tradingbotpro.com/

[vintages]

Anyone who is profiting well in cryptocurrency trading, I believe is following the major rules of trading.
I don't think there is any secret rules or methods involved in trading.
And these majors rules are;
Properly analysis your trading plan or how you intend to setup.
Choose proper coins, do not just trade on any coins just like that, watch the coins closely a see how they they flow before trading on it.
I personally believe you should start small, then as time goes on you can increase.
Don't get too greedy and learn to control your emotions.
And above all, trade with money you are willingly and ready to loss.  Do not put all your savings in it.
Most rules are already stated in the comments. Happy trading

[Coin_trader]

You must learn the scalping and arbitrage trading, you need more trading fund to gain more profit while doing the scalping, while arbitrage trading is risky when the transaction is not that fast during the transfer from one to another exchange.

[PrinceCaspian]

If you want to trade efficiently then i can say that you should learn a lot of things first like study how to determine the great points of buying price and selling price and use that in your trading performance and observe your performance and always study because in trading, study doesn't stop because you need new knowledge every single day.