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Author Topic: Crypto trading tips based on years of experience --- by Raja  (Read 16559 times)
Raja_MBZ
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July 23, 2018, 10:34:56 PM
 #41

Another tip added:

Quote
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.

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July 23, 2018, 11:07:37 PM
 #42

Thnx, good tips. I do a couple of things in a different way thou. I do not have 40%+ of BTC sometimes (sitting in alts mostly). About twitter. It can be really helpful in a lot of ways, there are some good traders who share their wisdom for free.
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July 23, 2018, 11:24:05 PM
Last edit: July 23, 2018, 11:44:59 PM by Raja_MBZ
 #43

Thnx, good tips. I do a couple of things in a different way thou. I do not have 40%+ of BTC sometimes (sitting in alts mostly). About twitter. It can be really helpful in a lot of ways, there are some good traders who share their wisdom for free.

Nice to see you went through the tips. Smiley

IMO, having some bitcoin along with altcoins is a must. Look at the CoinMarketCap; bitcoin dominance has increased by 5% in the last few days and alts have taken a lot of damage in the mean time. Remaining all the time 100% in alts is not a good idea. Wink

In crypto-currencies, bitcoin works like a "reserve" currency. Bitcoin's "reserve" status means it definitely deserves a nice place in your portfolio.

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July 23, 2018, 11:55:43 PM
 #44

Thnx, good tips. I do a couple of things in a different way thou. I do not have 40%+ of BTC sometimes (sitting in alts mostly). About twitter. It can be really helpful in a lot of ways, there are some good traders who share their wisdom for free.

Nice to see you went through the tips. Smiley

IMO, having some bitcoin along with altcoins is a must. Look at the CoinMarketCap; bitcoin dominance has increased by 5% in the last few days and alts have taken a lot of damage in the mean time. Remaining all the time 100% in alts is not a good idea. Wink

In crypto-currencies, bitcoin works like a "reserve" currency. Bitcoin's "reserve" status means it definitely deserves a nice place in your portfolio.
Yes.Bitcoin should always have a special place in our portfolio because even it if drops its price,it will not be an issue because it will surely grow in time.So invest more in bitcoin rather than in shit altcoins if you want to gain huge profits in the future.The long wait for bitcoin is always worth it the profits you'll gain.

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July 24, 2018, 03:20:42 AM
 #45

Great! This is what type of TIPS I am looking for. All tips that are written here are  all significant , must remember and shall be carried at all times. Since i am just a beginner and not that well experienced as you, you have a great journey in crypto that it summarizes all your experiences into these tips. You were right, invest 40% in bitcoin because the market gives a crazy moves. I remembered that i lost a hugr amouny bec. Of insuffecient knowledge back then about the market movements.

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July 24, 2018, 07:57:12 PM
 #46

Great! This is what type of TIPS I am looking for. All tips that are written here are  all significant , must remember and shall be carried at all times. Since i am just a beginner and not that well experienced as you, you have a great journey in crypto that it summarizes all your experiences into these tips. You were right, invest 40% in bitcoin because the market gives a crazy moves. I remembered that i lost a hugr amouny bec. Of insuffecient knowledge back then about the market movements.

I'm glad to hear that! Smiley

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August 23, 2018, 11:23:44 PM
 #47

Another tip regarding circulating/total supply of the coin has been added.

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August 24, 2018, 05:24:02 PM
 #48

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.
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October 02, 2018, 08:14:33 AM
 #49

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.

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October 02, 2018, 11:15:53 AM
 #50

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!

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October 02, 2018, 12:34:17 PM
 #51

This is pretty simple and good article I read. Yes lots of positive approaches about the crypto trading. I guess its pretty much straight that when you enter the crypto market then you will be facing lot of unpredictable stuff around here. You will never know the exact position of the crypto currency market at all, neither you will be able to rely on the signals around the crypto space. So the only option that we are left with is to follow the steps carefully which are mentioned in the OP here. Of course I am more closer to one point, that explains about the FOMO stuff. I have seen my friends going fomo investment all the time and making huge mistakes by such deeds. They never earned good profits when they invested in such fragile stage of the crypto currency.
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October 05, 2018, 07:49:48 AM
 #52

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.
Okay, maybe you are then missing on the future. Well, I would not judge you on your goals, and for what it is worth, I hope you have been able to find what you were looking for in fiat over the years. In as much as I hedge in fiat sometimes, the main idea for me is to increase my bitcoin stash and I see USDT as just any other altcoin in which I am taking advantage of the fluctuations and utilizing it for my own benefit.

Yeah, the idea of diversifying is always going to be there in the long run, when you talk about stocks and real estate and I would not actually advise anyone to not consider that at some point, but for fiat, I really do not know what to say about that.
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October 08, 2018, 11:50:09 AM
 #53

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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October 25, 2018, 07:49:57 PM
 #54

Added the following point:

Quote
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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October 25, 2018, 08:48:31 PM
 #55

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.jpg

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.

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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October 25, 2018, 11:53:50 PM
 #56

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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December 13, 2018, 06:18:54 PM
 #57

Added a new trading tip after quite a while:

Quote
28. Want some charting skills? Don't forget to read this free guide: The Complete Beginners Guide to Crypto Currency Trading by @BigCheds

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December 13, 2018, 10:46:30 PM
 #58

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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December 14, 2018, 09:41:22 AM
 #59

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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December 14, 2018, 09:50:33 AM
 #60

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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