fasdorcas
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October 08, 2018, 11:50:09 AM |
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The main thing is to understand the market situation and set the mind to buy the coins in more deep price you can say the full depth and lowest price of such coins that is only happen when you have maximum pending walls in different minimum prices, that will helps you more and more to get the coins in very best price and after stable of the market situation or if market go to the moon then you have a very good profit in the account.
Yeah, understanding the situation of the market will always help you to make better decisions and to always cross check the condition of each market to be able to take advantage of the fluctuations. The OP has really shared some pretty good tips and for someone like me, I am always looking to increase my BTC stash anyway and anywhere I see an opportunity in alts, I always take it immediately without even a second thought. It has really helped over the years to increase my position, but one thing is a lot of people are willing to want to trade, but they are not willing to learn, and somehow, this would always pose a great challenge.
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Raja_MBZ (OP)
Legendary
Offline
Activity: 1834
Merit: 1520
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October 25, 2018, 07:49:57 PM |
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Added the following point: 27. Keep your portfolio as much diversified as you can. Don't just go "all in" in anything! I'm amazed that I didn't talk about "diversification" in all these months; a very important point indeed.
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minairia3
Sr. Member
Offline
Activity: 1680
Merit: 326
20BET - Premium Casino & Sportsbook
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October 25, 2018, 08:48:31 PM |
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Most of you are probably gonna learn the hard way, like I did, by making a lot of mistakes, but maybe keeping in mind a few tips can help you reduce the learning time of stupid mistakes: 1. Your goal is to earn BTC, not the tethers (USD). Trade BTC/Alt pairs, not USDT pairs. 2. Do not buy something that has been multiplied by 2 or 3 recently. 3. Paid trading tips, pump n' dump groups, Twitter, or other sort of paid groups are not going to give you the right suggestions, in fact, their main goal is to squeeze some money out from you! Use Twitter and other such platforms only for remaining updated, not for decisions-making. 4. Always remain at least 40% in bitcoin, there're a lot of times when bitcoin makes a crazy move and alts get a heck of damage. 5. Never fall in love with some one coin only, otherwise this love will damage you in the end as much as real-life love. 6. Time comes when you feel like all other alts are getting pumped up except for yours, in that case, just hodl. It'd be too late to jump onto some other alt. 7. If you're buying something that's about to get hard-forked leaving two coins (out of one) in hope of a pump, don't forget to dump it like 2-3 days earlier. It's a trend now, a pre-fork dump. 8. If something is obvious, it's obviously wrong. -Joe Granville 9. Good things come to those who wait. -Al-Quran 10. Never FOMO/panic. Never think "if I hadn't sold it, I'd have been sitting on a million". Never cry over past, only learn from it and don't repeat the same mistake. 11. In crypto, the good thing is, you can always make a good comeback by being wise, even if you're left with 10% money you initially invested. 12. If you think no one's more unlucky than you, then watch some Youtube videos of victims of Bitconnect. 13. Wait for quality trades (good chances), don't just rush up to trade your bitcoin or dollars again after every successful profit. Decrease quantity of trades and increase quality of trades. Don't trade while you're exhausted (or too much happy on previous trade). 14. If you think you missed the chance by not buying something, don't be blue, try to find some other opportunity. There're always some golden opportunities available in crypto. 15. Trade in levels. Buying and selling, both, do it in levels. This reduces the risk greatly. 16. Try to "bitcoin cost average", if you buy something at 0.02 BTC price, and it goes down to 0.015 BTC, then buy more of it at 0.015 BTC so that you can get into profit faster once it recovers. 17. Make one fully-researched decision without fomo'ing out, and once you make it, stick to it. Finding absolute bottom to buy in at or absolute top to sell on at is pretty much impossible. 18. Very good and interesting analysis by @cy_stats on Twitter of altseason: https://pbs.twimg.com/media/DZstNL-XkAAKFZN.jpg19. Always keep in mind the following pattern of BTC & Alts, as seen in past years: *1) If bitcoin goes up heavily, all alts suffer. *2) If bitcoin goes down heavily, all alts suffer. *3) If bitcoin goes up slowly, only low volume alts suffer. *4) If bitcoin goes down slowly, only volume alts suffer. *5) If bitcoin stays sideways, every kind of alt grows. *6) If bitcoin stays sideways for a few weeks (4+), all alts grow and low-volume alts go "absolutely" crazy. 20. Do not use leverage unless you're really experienced. 21. I personally do not include the coins I've in exchanges in my portfolio. Remember, as long as you've your coins in the exchanges, they do not belong to you. They belong to the exchange and you should always remain ready for a hack/loss of those funds. If you're not trading something, it's way better to take it off the exchanges. 22. If you're planning to have a big position in one of the coins, make sure to thoroughly investigate what's going behind the scenes (by joining its Discord or Telegram), else, you might find something suspicious later on which will be very annoying (and might result in a good loss). 23. Book your profits, don't be the one just "hodling" around. Hodling, in my opinion, works out when you're planning to buy something and then leaving it for a few years. If you're trading, it's not an option for you. Don't just sit back and look at your coins getting pumped up, remember, until and unless you take some profit off of them, that pump is actually useless for you. 24. Buying an altcoin that just entered a high-volume trading platform is simply a big gamble. If you're really planning to buy something which you think has dumped enough after a huge pump AND after getting listed at a high-volume trading platform, you better be ready for something awful. It's a pure gamble, by the next day, it can either get a huge dump or an awesome pump. I'd rather play a roll on FortuneJack instead of going for a trade like this ever again. 25. Before you buy something new, don't forget to have a look at its total supply & circulating supply. Moreover, make sure that there's not going to be an extreme addition soon into its circulating supply; like unlocking of founders reward or private investor coins can devalue your coin/token too much. 26. FOMO buying while the trend is overall downwards is stupidity. Place a buy order at around 3-6% less than the current price, there's a huge probability that it'll get filled. 27. Keep your portfolio as much diversified as you can. Don't just go "all in" in anything!
More tips coming up as soon as I think of them. I'm expecting to reach at least thirty tips soon. If you've been in trading and would like to share a tip as well, please post below. Nice guide. the last I just notice. because of the volatility the diversification strat is not applicable as there's no crypto is safe or stable for price movement. It's ok if you're bias about it so it should be "concentrated" portfolio. You only place your position to those you study and not those that are "safe" to invest.
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Finestream
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October 25, 2018, 11:53:50 PM |
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BTC has high fluctuacion as well. So my goal is not to increasing amount of BTC but to increase balance of fiat/USDT. If we have goal BTC , we will loss value in fiat when BTC down trend. Goal to trade crypto is to increase the amount of fiat , just the same like stocks and forex trading, and by increasing the fiat and then we can use it to buy other asset that does not have high fluctuacion like real estate or properties.
If that's your aim, then I'm sorry, you don't truly understand the strength of bitcoin. Bitcoin is slowly but surely becoming the global reserve currency. Fiat is an illusion, you don't know how much of it is your government printing it up. You might make some fiat trading bitcoin, but in the end, you'll only regret selling each and every satoshi. Try to save bitcoin, not fiat, mate! Yes.We are trading cryptos to increase our bitcoins and not to make fiat more.After all,bitcoin has still more value than fiat currencies so as much as possible,we should focus on increasing our portfolio by not focusing only on a single coin.We should learn to diversify our investments so we will make huge profits in the near future.
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Raja_MBZ (OP)
Legendary
Offline
Activity: 1834
Merit: 1520
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December 13, 2018, 06:18:54 PM |
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Added a new trading tip after quite a while:
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Finestream
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December 13, 2018, 10:46:30 PM |
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BTC has high fluctuacion as well. So my goal is not to increasing amount of BTC but to increase balance of fiat/USDT. If we have goal BTC , we will loss value in fiat when BTC down trend. Goal to trade crypto is to increase the amount of fiat , just the same like stocks and forex trading, and by increasing the fiat and then we can use it to buy other asset that does not have high fluctuacion like real estate or properties.
If that's your aim, then I'm sorry, you don't truly understand the strength of bitcoin. Bitcoin is slowly but surely becoming the global reserve currency. Fiat is an illusion, you don't know how much of it is your government printing it up. You might make some fiat trading bitcoin, but in the end, you'll only regret selling each and every satoshi. Try to save bitcoin, not fiat, mate! Yes.We are trading cryptos to increase our bitcoins and not to make fiat more.After all,bitcoin has still more value than fiat currencies so as much as possible,we should focus on increasing our portfolio by not focusing only on a single coin.We should learn to diversify our investments so we will make huge profits in the near future. I agree on you.We should focus on how to make huge profits in bitcoin rather than increasing your fiat.So atleast we will not fall in love with one coin only because if that single coin falls its price,then we will no longer make profits anymore.I suggest to research more on other potential coins so we will not lose in choosing the wrong ones.
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hermankoles
Jr. Member
Offline
Activity: 275
Merit: 1
https://customcontract.network
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December 14, 2018, 09:41:22 AM |
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tips that are very helpful for me a beginner in trading where often make the wrong decisions in buying or selling coins, emotions and are less able to read market trends is a gap towards losses in trading
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✮✮❯✮❯✮❯ CCN-CUSTOMCONTRACT.NETWORK ❮✮❮✮❮✮❮✮✮ (https://customcontract.network//)
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MrVuuu
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December 14, 2018, 09:50:33 AM |
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excellent advice that is suitable even for experienced traders. Personally, I adhere to about 50% of the above rules, and nevertheless I go to the plus. I wonder what will happen if I stick to all 100%
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ShadowBits
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December 16, 2018, 02:24:26 PM |
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Most of you are probably gonna learn the hard way, like I did, by making a lot of mistakes, but maybe keeping in mind a few tips can help you reduce the learning time of stupid mistakes: 1. Your goal is to earn BTC, not the tethers (USD). Trade BTC/Alt pairs, not USDT pairs. 2. Do not buy something that has been multiplied by 2 or 3 recently. 3. Paid trading tips, pump n' dump groups, Twitter, or other sort of paid groups are not going to give you the right suggestions, in fact, their main goal is to squeeze some money out from you! Use Twitter and other such platforms only for remaining updated, not for decisions-making. 4. Always remain at least 40% in bitcoin, there're a lot of times when bitcoin makes a crazy move and alts get a heck of damage. 5. Never fall in love with some one coin only, otherwise this love will damage you in the end as much as real-life love. 6. Time comes when you feel like all other alts are getting pumped up except for yours, in that case, just hodl. It'd be too late to jump onto some other alt. 7. If you're buying something that's about to get hard-forked leaving two coins (out of one) in hope of a pump, don't forget to dump it like 2-3 days earlier. It's a trend now, a pre-fork dump. 8. If something is obvious, it's obviously wrong. -Joe Granville 9. Good things come to those who wait. -Al-Quran 10. Never FOMO/panic. Never think "if I hadn't sold it, I'd have been sitting on a million". Never cry over past, only learn from it and don't repeat the same mistake. 11. In crypto, the good thing is, you can always make a good comeback by being wise, even if you're left with 10% money you initially invested. 12. If you think no one's more unlucky than you, then watch some Youtube videos of victims of Bitconnect. 13. Wait for quality trades (good chances), don't just rush up to trade your bitcoin or dollars again after every successful profit. Decrease quantity of trades and increase quality of trades. Don't trade while you're exhausted (or too much happy on previous trade). 14. If you think you missed the chance by not buying something, don't be blue, try to find some other opportunity. There're always some golden opportunities available in crypto. 15. Trade in levels. Buying and selling, both, do it in levels. This reduces the risk greatly. 16. Try to "bitcoin cost average", if you buy something at 0.02 BTC price, and it goes down to 0.015 BTC, then buy more of it at 0.015 BTC so that you can get into profit faster once it recovers. 17. Make one fully-researched decision without fomo'ing out, and once you make it, stick to it. Finding absolute bottom to buy in at or absolute top to sell on at is pretty much impossible. 18. Very good and interesting analysis by @cy_stats on Twitter of altseason: https://pbs.twimg.com/media/DZstNL-XkAAKFZN.jpg19. Always keep in mind the following pattern of BTC & Alts, as seen in past years: *1) If bitcoin goes up heavily, all alts suffer. *2) If bitcoin goes down heavily, all alts suffer. *3) If bitcoin goes up slowly, only low volume alts suffer. *4) If bitcoin goes down slowly, only volume alts suffer. *5) If bitcoin stays sideways, every kind of alt grows. *6) If bitcoin stays sideways for a few weeks (4+), all alts grow and low-volume alts go "absolutely" crazy. 20. Do not use leverage unless you're really experienced. 21. I personally do not include the coins I've in exchanges in my portfolio. Remember, as long as you've your coins in the exchanges, they do not belong to you. They belong to the exchange and you should always remain ready for a hack/loss of those funds. If you're not trading something, it's way better to take it off the exchanges. 22. If you're planning to have a big position in one of the coins, make sure to thoroughly investigate what's going behind the scenes (by joining its Discord or Telegram), else, you might find something suspicious later on which will be very annoying (and might result in a good loss). 23. Book your profits, don't be the one just "hodling" around. Hodling, in my opinion, works out when you're planning to buy something and then leaving it for a few years. If you're trading, it's not an option for you. Don't just sit back and look at your coins getting pumped up, remember, until and unless you take some profit off of them, that pump is actually useless for you. 24. Buying an altcoin that just entered a high-volume trading platform is simply a big gamble. If you're really planning to buy something which you think has dumped enough after a huge pump AND after getting listed at a high-volume trading platform, you better be ready for something awful. It's a pure gamble, by the next day, it can either get a huge dump or an awesome pump. I'd rather play a roll on FortuneJack instead of going for a trade like this ever again. 25. Before you buy something new, don't forget to have a look at its total supply & circulating supply. Moreover, make sure that there's not going to be an extreme addition soon into its circulating supply; like unlocking of founders reward or private investor coins can devalue your coin/token too much. 26. FOMO buying while the trend is overall downwards is stupidity. Place a buy order at around 3-6% less than the current price, there's a huge probability that it'll get filled. 27. Keep your portfolio as much diversified as you can. Don't just go "all in" in anything! 28. Want some charting skills? Don't forget to read this free guide: The Complete Beginners Guide to Crypto Currency Trading by @BigCheds
If you've been in crypto trading and would like to share a tip as well, please post below. PLUS I'M NOT RESPONSIBLE FOR YOUR LOSSES (OR PROFITS)! I had never find something good as this. When I get my Bitcoin from my bounties again I would truly follow all of this tips and would hope that i will give me a nice outcome.
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Cosbycoin
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December 17, 2018, 06:09:13 AM |
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Most of you are probably gonna learn the hard way, like I did, by making a lot of mistakes, but maybe keeping in mind a few tips can help you reduce the learning time of stupid mistakes: 1. Your goal is to earn BTC, not the tethers (USD). Trade BTC/Alt pairs, not USDT pairs. 2. Do not buy something that has been multiplied by 2 or 3 recently. 3. Paid trading tips, pump n' dump groups, Twitter, or other sort of paid groups are not going to give you the right suggestions, in fact, their main goal is to squeeze some money out from you! Use Twitter and other such platforms only for remaining updated, not for decisions-making. 4. Always remain at least 40% in bitcoin, there're a lot of times when bitcoin makes a crazy move and alts get a heck of damage. 5. Never fall in love with some one coin only, otherwise this love will damage you in the end as much as real-life love. 6. Time comes when you feel like all other alts are getting pumped up except for yours, in that case, just hodl. It'd be too late to jump onto some other alt. 7. If you're buying something that's about to get hard-forked leaving two coins (out of one) in hope of a pump, don't forget to dump it like 2-3 days earlier. It's a trend now, a pre-fork dump. 8. If something is obvious, it's obviously wrong. -Joe Granville 9. Good things come to those who wait. -Al-Quran 10. Never FOMO/panic. Never think "if I hadn't sold it, I'd have been sitting on a million". Never cry over past, only learn from it and don't repeat the same mistake. 11. In crypto, the good thing is, you can always make a good comeback by being wise, even if you're left with 10% money you initially invested. 12. If you think no one's more unlucky than you, then watch some Youtube videos of victims of Bitconnect. 13. Wait for quality trades (good chances), don't just rush up to trade your bitcoin or dollars again after every successful profit. Decrease quantity of trades and increase quality of trades. Don't trade while you're exhausted (or too much happy on previous trade). 14. If you think you missed the chance by not buying something, don't be blue, try to find some other opportunity. There're always some golden opportunities available in crypto. 15. Trade in levels. Buying and selling, both, do it in levels. This reduces the risk greatly. 16. Try to "bitcoin cost average", if you buy something at 0.02 BTC price, and it goes down to 0.015 BTC, then buy more of it at 0.015 BTC so that you can get into profit faster once it recovers. 17. Make one fully-researched decision without fomo'ing out, and once you make it, stick to it. Finding absolute bottom to buy in at or absolute top to sell on at is pretty much impossible. 18. Very good and interesting analysis by @cy_stats on Twitter of altseason: https://pbs.twimg.com/media/DZstNL-XkAAKFZN.jpg19. Always keep in mind the following pattern of BTC & Alts, as seen in past years: *1) If bitcoin goes up heavily, all alts suffer. *2) If bitcoin goes down heavily, all alts suffer. *3) If bitcoin goes up slowly, only low volume alts suffer. *4) If bitcoin goes down slowly, only volume alts suffer. *5) If bitcoin stays sideways, every kind of alt grows. *6) If bitcoin stays sideways for a few weeks (4+), all alts grow and low-volume alts go "absolutely" crazy. 20. Do not use leverage unless you're really experienced. 21. I personally do not include the coins I've in exchanges in my portfolio. Remember, as long as you've your coins in the exchanges, they do not belong to you. They belong to the exchange and you should always remain ready for a hack/loss of those funds. If you're not trading something, it's way better to take it off the exchanges. 22. If you're planning to have a big position in one of the coins, make sure to thoroughly investigate what's going behind the scenes (by joining its Discord or Telegram), else, you might find something suspicious later on which will be very annoying (and might result in a good loss). 23. Book your profits, don't be the one just "hodling" around. Hodling, in my opinion, works out when you're planning to buy something and then leaving it for a few years. If you're trading, it's not an option for you. Don't just sit back and look at your coins getting pumped up, remember, until and unless you take some profit off of them, that pump is actually useless for you. 24. Buying an altcoin that just entered a high-volume trading platform is simply a big gamble. If you're really planning to buy something which you think has dumped enough after a huge pump AND after getting listed at a high-volume trading platform, you better be ready for something awful. It's a pure gamble, by the next day, it can either get a huge dump or an awesome pump. I'd rather play a roll on FortuneJack instead of going for a trade like this ever again. 25. Before you buy something new, don't forget to have a look at its total supply & circulating supply. Moreover, make sure that there's not going to be an extreme addition soon into its circulating supply; like unlocking of founders reward or private investor coins can devalue your coin/token too much. 26. FOMO buying while the trend is overall downwards is stupidity. Place a buy order at around 3-6% less than the current price, there's a huge probability that it'll get filled. 27. Keep your portfolio as much diversified as you can. Don't just go "all in" in anything! 28. Want some charting skills? Don't forget to read this free guide: The Complete Beginners Guide to Crypto Currency Trading by @BigCheds
If you've been in crypto trading and would like to share a tip as well, please post below. PLUS I'M NOT RESPONSIBLE FOR YOUR LOSSES (OR PROFITS)! A lot of people saying that fomo is a risk lol, there is never a time will invest without taking risk, cause the risk is always there, just that fomo makes it worst. And the tips here are really good, although I’m not sure of the number 1 point. Your goal is to earn BTC and not USD? I still got to think about that, but like seriously what do you gain by focusing on earning more BTC instead of dollars? You invested/bought the BTC with USD, so your main focus should be on whether you’re making more of what you invested which is USD. Even if you didn’t make much BTC and the price goes up, you will still make more USD. If I’m wrong, correct me.
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Raja_MBZ (OP)
Legendary
Offline
Activity: 1834
Merit: 1520
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December 17, 2018, 08:03:18 PM |
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~snip~
... And the tips here are really good, although I’m not sure of the number 1 point. Your goal is to earn BTC and not USD? I still got to think about that, but like seriously what do you gain by focusing on earning more BTC instead of dollars? You invested/bought the BTC with USD, so your main focus should be on whether you’re making more of what you invested which is USD. Even if you didn’t make much BTC and the price goes up, you will still make more USD. If I’m wrong, correct me. Bitcoin is undervalued. I'm sure you agree with that, don't you? If you think that bitcoin is overvalued at this point (~$3300), then you should just leave crypto (literally). Let's have an example: -You make 0.001 BTC profit in a trade. BTC is trading at ~$3300 currently but you decide to keep that profit in USD. -As a result, you get $3.3 in your wallet. -Bitcoin, after a few months, gets to ~$6600. -You realize that you could've made another 2x from the trade if you had hodl'ed your profits in BTC. I'd recommend you to go through the fundamentals of bitcoin (again), and stack as much bitcoin as you can while it's cheap. DON'T CARELESSLY SPEND YOUR PRECIOUS LIMITED BITCOIN ON UNLIMITED WORTHLESS FIAT!
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Raja_MBZ (OP)
Legendary
Offline
Activity: 1834
Merit: 1520
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January 27, 2019, 09:45:06 PM |
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Point added: 29. Never blindly follow anyone. Even if you join any paid trading group, make sure that you DYOR before jumping into any trade.
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Raja_MBZ (OP)
Legendary
Offline
Activity: 1834
Merit: 1520
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May 10, 2019, 10:34:15 PM |
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Alts are getting full-time rekt these days, and if you're trading, the following analysis could help you: 19. Always keep in mind the following pattern of BTC & Alts, as seen in past years:
*1) If bitcoin goes up heavily, all alts suffer. *2) If bitcoin goes down heavily, all alts suffer. *3) If bitcoin goes up slowly, only low volume alts suffer. *4) If bitcoin goes down slowly, only volume alts suffer. *5) If bitcoin stays sideways, every kind of alt grows. *6) If bitcoin stays sideways for a few weeks (4+), all alts grow and low-volume alts go "absolutely" crazy.
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Oasisman
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May 10, 2019, 11:02:47 PM |
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11. In crypto, the good thing is, you can always make a good comeback by being wise, even if you're left with 10% money you initially invested.
Yes, comback is real! But with just 10% left from your capital, it seems that most of the people might turn their back and give up. I have a friend who have lost around 80% to his invested capital, that incident made him so drained. He sold everything thats left. It took months for him before he decided to come back and start from the bottom. Its really hard to make a comeback after a huge loss, most specially when youre trying to persistently recover what you have lost from your portfolio. It needs a lot of patience.
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DarkEagleMan
Jr. Member
Offline
Activity: 84
Merit: 5
A Blockchain Mobile Operator With Token Rewards
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May 10, 2019, 11:59:08 PM |
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Thanks for your advice. They are very interesting and worth following some of them, always taking into consideration that the trader is always an eternal apprentice, and even the best available strategies should always be adapted to the personality and style of each individual trader, but undoubtedly your experience is very useful for those of us who are hardly in the process of learning in this difficult profession.
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△ M!R△CLE TELE (https://miracletele.com/) ▌ BRINGING MAGIC TO THE TELECOM INDUSTRY ▐
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bonker
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May 11, 2019, 02:14:16 AM |
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Most of you are probably gonna learn the hard way, like I did, by making a lot of mistakes, but maybe keeping in mind a few tips can help you reduce the learning time of stupid mistakes: 1. Your goal is to earn BTC, not the tether/fiat. Trade BTC/Alt pairs, not USDT pairs. 2. Do not buy something that has been multiplied by 2 or 3 recently. 3. Paid trading tips, pump n' dump groups, Twitter, or other sorts of paid groups are not going to give you the right suggestions, in fact, their main goal is to squeeze some money out from you! Use Twitter and other such platforms only for remaining updated, not for decision-making. 4. Always remain at least 40% in bitcoin, there're a lot of times when bitcoin makes a crazy move and alts get a heck of damage. 5. Never fall in love with someone coin only, otherwise, this love will damage you in the end as much as real-life love. 6. A time comes when you feel like all other alts are getting pumped up except for yours, in that case, just hodl. It'd be too late to jump onto some other alt. 7. If you're buying something that's about to get hard-forked leaving two coins (out of one) in hope of a pump, don't forget to dump it like 2-3 days earlier. It's a trend now, a pre-fork dump. 8. If something is obvious, it's obviously wrong. -Joe Granville 9. Good things come to those who wait. -Al-Quran 10. Never FOMO/panic. Never think "if I hadn't sold it, I'd have been sitting on a million". Never cry over the past, only learn from it and don't repeat the same mistake. 11. In crypto, the good thing is, you can always make a good comeback by being wise, even if you're left with 10% money you initially invested. 12. If you think no one's more unlucky than you, then watch some Youtube videos of victims of Bitconnect. 13. Wait for quality trades (good chances), don't just rush up to trade your bitcoin or dollars again after every successful profit. Decrease quantity of trades and increase the quality of trades. Don't trade while you're exhausted (or too much happy on previous trade). 14. If you think you missed the chance by not buying something, don't be blue, try to find some other opportunity. There're always some golden opportunities available in crypto. 15. Trade in levels. Buying and selling, both, do it in levels. This reduces the risk greatly. 16. Try to "bitcoin cost average", if you buy something at 0.02 BTC price, and it goes down to 0.015 BTC, then buy more of it at 0.015 BTC so that you can get into profit faster once it recovers. 17. Make one fully-researched decision without FOMO'ing out, and once you make it, stick to it. Finding absolute bottom to buy in at or absolute top to sell on at is pretty much impossible. 18. Very good and interesting analysis by @cy_stats on Twitter of altseason: https://pbs.twimg.com/media/DZstNL-XkAAKFZN.jpg19. Always keep in mind the following pattern of BTC & Alts, as seen in past years: *1) If bitcoin goes up heavily, all alts suffer. *2) If bitcoin goes down heavily, all alts suffer. *3) If bitcoin goes up slowly, only low volume alts suffer. *4) If bitcoin goes down slowly, only volume alts suffer. *5) If bitcoin stays sideways, every kind of alt grows. *6) If bitcoin stays sideways for a few weeks (4+), all alts grow and low-volume alts go "absolutely" crazy. 20. Do not use leverage unless you're really experienced. 21. I personally do not include the coins I've in exchanges in my portfolio. Remember, as long as you've your coins in the exchanges, they do not belong to you. They belong to the exchange and you should always remain ready for a hack/loss of those funds. If you're not trading something, it's way better to take it off the exchanges. 22. If you're planning to have a big position in one of the coins, make sure to thoroughly investigate what's going behind the scenes (by joining its Discord or Telegram), else, you might find something suspicious later on which will be very annoying (and might result in a good loss). 23. Book your profits, don't be the one just "hodling" around. Hodling, in my opinion, works out when you're planning to buy something and then leaving it for a few years. If you're trading, it's not an option for you. Don't just sit back and look at your coins getting pumped up, remember, until and unless you take some profit off of them, that pump is actually useless for you. 24. Buying an altcoin that just entered a high-volume trading platform is simply a big gamble. If you're really planning to buy something which you think has dumped enough after a huge pump AND after getting listed at a high-volume trading platform, you better be ready for something awful. It's a pure gamble, by the next day, it can either get a huge dump or an awesome pump. I'd rather play a roll on FortuneJack instead of going for a trade like this ever again. 25. Before you buy something new, don't forget to have a look at its total supply & circulating supply. Moreover, make sure that there's not going to be an extreme addition soon into its circulating supply; like unlocking of founders reward or private investor coins can devalue your coin/token too much. 26. FOMO buying while the trend is overall downwards is stupidity. Place a buy order at around 3-6% less than the current price, there's a huge probability that it'll get filled. 27. Keep your portfolio as much diversified as you can. Don't just go "all in" in anything! 28. Want some charting skills? Don't forget to read this free guide: The Complete Beginners Guide to Crypto Currency Trading by @BigCheds29. Never blindly follow anyone. Even if you join any paid trading group, make sure that you DYOR before jumping into any trade.
If you've been in crypto trading and would like to share a tip as well, please post below. PLUS I'M NOT RESPONSIBLE FOR YOUR LOSSES (OR PROFITS)! all the points where useful and some points were definitely and must be followed by the traders because it will give the experience for everyone to go forward that's why we need to follow them properly.
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playboy654
Member
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Activity: 546
Merit: 32
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May 11, 2019, 11:10:00 AM |
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One of the important thing is you need to make every chances to be successful because the chances given by cryptocurrency was very very low if you use that you will be a successful person so using the opportunity always important for a trader to make his journey more better.
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senyorito123
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May 11, 2019, 09:46:57 PM |
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Most of you are probably gonna learn the hard way, like I did, by making a lot of mistakes, but maybe keeping in mind a few tips can help you reduce the learning time of stupid mistakes: 1. Your goal is to earn BTC, not the tether/fiat. Trade BTC/Alt pairs, not USDT pairs. 2. Do not buy something that has been multiplied by 2 or 3 recently. 3. Paid trading tips, pump n' dump groups, Twitter, or other sorts of paid groups are not going to give you the right suggestions, in fact, their main goal is to squeeze some money out from you! Use Twitter and other such platforms only for remaining updated, not for decision-making. 4. Always remain at least 40% in bitcoin, there're a lot of times when bitcoin makes a crazy move and alts get a heck of damage. 5. Never fall in love with someone coin only, otherwise, this love will damage you in the end as much as real-life love. 6. A time comes when you feel like all other alts are getting pumped up except for yours, in that case, just hodl. It'd be too late to jump onto some other alt. 7. If you're buying something that's about to get hard-forked leaving two coins (out of one) in hope of a pump, don't forget to dump it like 2-3 days earlier. It's a trend now, a pre-fork dump. 8. If something is obvious, it's obviously wrong. -Joe Granville 9. Good things come to those who wait. -Al-Quran 10. Never FOMO/panic. Never think "if I hadn't sold it, I'd have been sitting on a million". Never cry over the past, only learn from it and don't repeat the same mistake. 11. In crypto, the good thing is, you can always make a good comeback by being wise, even if you're left with 10% money you initially invested. 12. If you think no one's more unlucky than you, then watch some Youtube videos of victims of Bitconnect. 13. Wait for quality trades (good chances), don't just rush up to trade your bitcoin or dollars again after every successful profit. Decrease quantity of trades and increase the quality of trades. Don't trade while you're exhausted (or too much happy on previous trade). 14. If you think you missed the chance by not buying something, don't be blue, try to find some other opportunity. There're always some golden opportunities available in crypto. 15. Trade in levels. Buying and selling, both, do it in levels. This reduces the risk greatly. 16. Try to "bitcoin cost average", if you buy something at 0.02 BTC price, and it goes down to 0.015 BTC, then buy more of it at 0.015 BTC so that you can get into profit faster once it recovers. 17. Make one fully-researched decision without FOMO'ing out, and once you make it, stick to it. Finding absolute bottom to buy in at or absolute top to sell on at is pretty much impossible. 18. Very good and interesting analysis by @cy_stats on Twitter of altseason: https://pbs.twimg.com/media/DZstNL-XkAAKFZN.jpg19. Always keep in mind the following pattern of BTC & Alts, as seen in past years: *1) If bitcoin goes up heavily, all alts suffer. *2) If bitcoin goes down heavily, all alts suffer. *3) If bitcoin goes up slowly, only low volume alts suffer. *4) If bitcoin goes down slowly, only volume alts suffer. *5) If bitcoin stays sideways, every kind of alt grows. *6) If bitcoin stays sideways for a few weeks (4+), all alts grow and low-volume alts go "absolutely" crazy. 20. Do not use leverage unless you're really experienced. 21. I personally do not include the coins I've in exchanges in my portfolio. Remember, as long as you've your coins in the exchanges, they do not belong to you. They belong to the exchange and you should always remain ready for a hack/loss of those funds. If you're not trading something, it's way better to take it off the exchanges. 22. If you're planning to have a big position in one of the coins, make sure to thoroughly investigate what's going behind the scenes (by joining its Discord or Telegram), else, you might find something suspicious later on which will be very annoying (and might result in a good loss). 23. Book your profits, don't be the one just "hodling" around. Hodling, in my opinion, works out when you're planning to buy something and then leaving it for a few years. If you're trading, it's not an option for you. Don't just sit back and look at your coins getting pumped up, remember, until and unless you take some profit off of them, that pump is actually useless for you. 24. Buying an altcoin that just entered a high-volume trading platform is simply a big gamble. If you're really planning to buy something which you think has dumped enough after a huge pump AND after getting listed at a high-volume trading platform, you better be ready for something awful. It's a pure gamble, by the next day, it can either get a huge dump or an awesome pump. I'd rather play a roll on FortuneJack instead of going for a trade like this ever again. 25. Before you buy something new, don't forget to have a look at its total supply & circulating supply. Moreover, make sure that there's not going to be an extreme addition soon into its circulating supply; like unlocking of founders reward or private investor coins can devalue your coin/token too much. 26. FOMO buying while the trend is overall downwards is stupidity. Place a buy order at around 3-6% less than the current price, there's a huge probability that it'll get filled. 27. Keep your portfolio as much diversified as you can. Don't just go "all in" in anything! 28. Want some charting skills? Don't forget to read this free guide: The Complete Beginners Guide to Crypto Currency Trading by @BigCheds29. Never blindly follow anyone. Even if you join any paid trading group, make sure that you DYOR before jumping into any trade.
If you've been in crypto trading and would like to share a tip as well, please post below. PLUS I'M NOT RESPONSIBLE FOR YOUR LOSSES (OR PROFITS)! all the points where useful and some points were definitely and must be followed by the traders because it will give the experience for everyone to go forward that's why we need to follow them properly. These are very informative tips. Experience is indeed the best teacher. Through experience, mistakes, and failures, we learn a lot of things that can help guide us and make us wiser to face another challenges in crypto world. It can also be beneficial to not make same mistakes over and over again.
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Mahanton
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May 11, 2019, 10:20:49 PM |
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11. In crypto, the good thing is, you can always make a good comeback by being wise, even if you're left with 10% money you initially invested.
Yes, comback is real! But with just 10% left from your capital, it seems that most of the people might turn their back and give up. I have a friend who have lost around 80% to his invested capital, that incident made him so drained. He sold everything thats left. It took months for him before he decided to come back and start from the bottom. Its really hard to make a comeback after a huge loss, most specially when youre trying to persistently recover what you have lost from your portfolio. It needs a lot of patience. Emotion would really be a great factor that would really affect such comeback mindset.Most of people will normally have that kind of reaction where they do usually give up when they do almost lost out their entire capital with these kind of investment.Even myself would definitely do the same thing yet it is hard to control your patience along the way when we already talking about money.
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superscommessebitcoin
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May 11, 2019, 11:37:37 PM |
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I can tell from my experience that I have also made many of these mistakes. I traded altcoins to Fiat and bought coins after they rose in price. And accordingly it led me to losses. But I try to constantly do work on mistakes and constantly learn something new.
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