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princerepon
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August 24, 2019, 06:16:08 PM |
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Maybe someone expierenced or Ben can help me with this - I am having real trouble grasping whether to be trading against BTC or USDT? Many seem to say BTC, but I have been in situations when trading alt coins against BTC and they are 4 % up yet I have lost money because both were down against USD.
Is there any simple rule of thumb as to when to trade against USD and BTC?
Maybe always trade against USD unless BTC is in Bull Mode /?
Generally i trade with BTC but sometimes i also fall into the trap like this. I think BTC trade is best in bull market and bear for USD. I don't know but somehow i think USD is the best option because USD market price don't drop hugely. But in many times you can see, you sold some coin with BTC, you collect it for buy some new coin after finish your research but next day you see BTC dump. You loss some bucks. It's happen to me and it's too much frustrated. |
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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MonsterV
Legendary
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Activity: 2212
Merit: 1008
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August 24, 2019, 06:26:40 PM |
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Don't listen to them, trade with what you like and make you profit more easily. Because for me it makes no difference trading in BTC or USD, so please adjust to your own needs. If you want to multiply your BTC then please trade with BTC, but if you want to make more your dollars then please trade in USD. Determine goal from now on and then trade without having to be confused anymore. Generally i trade with BTC but sometimes i also fall into the trap like this. I think BTC trade is best in bull market and bear for USD. I don't know but somehow i think USD is the best option because USD market price don't drop hugely. But in many times you can see, you sold some coin with BTC, you collect it for buy some new coin after finish your research but next day you see BTC dump. You loss some bucks. It's happen to me and it's too much frustrated.
So if you prioritize fixed profits, please use USD in trading. But if you want to hold bitcoin while trading then use BTC as your trade. So my advice, it's better to trade in USD if you are a daily trader, crypto market fluctuations are so high unless you accept all the risks. |
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BaseFEX
Copper Member
Newbie
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Activity: 45
Merit: 0
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August 28, 2019, 08:52:30 AM
Last edit: August 29, 2019, 05:46:36 AM by BaseFEX |
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When you trade against BTC you are exposing your positions to BTC's innate volatility. Particularly in futures trading, when you short BTC using BTC, you lose more than you should since your margin is less valuable along the way. (It sometimes can be a good thing though, doubling your profits, when you have confidence in your bullish predications over BTC.) Therefore stablecoin and USD could be a better cash than BTC due to its stability. This means better predicability, and makes it easier to use, even for some sophisticated, professional traders. This is why we introduced USDT-settled pairs in addition to BTC pairs. |
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BaseFEX
Copper Member
Newbie
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Activity: 45
Merit: 0
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August 29, 2019, 05:50:35 AM |
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When you trade against BTC you are exposing your positions to BTC's innate volatility. Particularly in futures trading, when you short BTC using BTC, you lose more than you should since your margin is less valuable along the way. (It sometimes can be a good thing though, doubling your profits, when you have confidence in your bullish predications over BTC.)
Therefore stablecoin and USD could be a better cash than BTC due to its stability. This means better predicability, and makes it easier to use, even for some sophisticated, professional traders. This is why we introduced USDT-settled pairs in addition to BTC pairs.
Yes, the volatility of bitcoin is faster than USD, so you need to stay to always pay attention to prices when you trade. I also prefer bitcoin, because the rotation may be faster because prices are fast rising and falling. it's just that the risk may be greater compared to trading using USD. for earlier, try to trade on the demo trading app/site about both. Agree. For day trader or anyone who seek returns in frequent, short time window trades, trading against BTC might make some sense IF you are comfortable with its volatility. Otherwise, especially when the price is going down, USDT could be helpful because you won't be shorting double. |
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danherbias07
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Activity: 3122
Merit: 1119
Leading Crypto Sports Betting & Casino Platform
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August 29, 2019, 06:36:19 AM |
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How did you knew that lose monet when you traded with altcoins to bitcoin?
That just means you are already in conversion while doing it or the exchange have that kind of feature.
Take that out.
If you are trading a coin to another coin then you are making profit by gaining more of the preferred coin.
Stop the conversion thing. You only do that with USD vs any coin.
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michellee
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August 29, 2019, 06:41:09 AM |
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When you trade against BTC you are exposing your positions to BTC's innate volatility. Particularly in futures trading, when you short BTC using BTC, you lose more than you should since your margin is less valuable along the way. (It sometimes can be a good thing though, doubling your profits, when you have confidence in your bullish predications over BTC.)
Therefore stablecoin and USD could be a better cash than BTC due to its stability. This means better predicability, and makes it easier to use, even for some sophisticated, professional traders. This is why we introduced USDT-settled pairs in addition to BTC pairs.
Yes, the volatility of bitcoin is faster than USD, so you need to stay to always pay attention to prices when you trade. I also prefer bitcoin, because the rotation may be faster because prices are fast rising and falling. it's just that the risk may be greater compared to trading using USD. for earlier, try to trade on the demo trading app/site about both. But be careful when you choose bitcoin pair usdt because the bitcoin market was moving so fast and if you don't have enough skills, I don't think that you can make a profit. It is better to calm for a while and see what will happen later. And if you think that you can follow the market, you can enter the market, make a little buy order while you can wait again, and if the price is down deeper, then you can buy more bitcoin. In this way, you need more money to buy more bitcoin, especially if you place many orders buy on the market. But I think that not every order buy you have will be filled as the price still up and down. |
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SvonioneFromMangoCoinz
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Activity: 663
Merit: 10
https://streamies.io/
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August 29, 2019, 06:51:38 AM |
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Maybe someone expierenced or Ben can help me with this - I am having real trouble grasping whether to be trading against BTC or USDT? Many seem to say BTC, but I have been in situations when trading alt coins against BTC and they are 4 % up yet I have lost money because both were down against USD.
Is there any simple rule of thumb as to when to trade against USD and BTC?
Maybe always trade against USD unless BTC is in Bull Mode /?
I have a very basic rule and will usually never make too many losses. For example you have $ 1000. Do not rush to buy Bitcoin because it is recommended by many friends. Be alert and wait for the value of BTC to fall from 5% - 7%, which is an opportunity for you to spend 33.3% to buy Bitcoin. After that, if it decreases by another 1.5%, you will continue to use 33.3% more to buy more and continue with DCA. and when you buy all 1000 $, place a stoploss about 2%. After that, you only need to wait 2-3 days, the market will recover by itself and you can have 3-4% in a short time. |
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