Trading Cryptocurrencies

[Lifestudent38]

Hi guys, the topic of discussion is aimed at gathering input from other traders about how they make their choices in the Crypto Market, and hopefully hereby we can get a more holistic view of the current Crypto-Traders Psychology.

What do you base your decisions on when you enter a trade in the crypto-sphere?

[Noobaru]

I always check the project behind the coin/token I am trading and their news channels. The team is also important and where they are on their roadmap. The thing that is most important to me, is if they do stick to their timeline and deliver updates on time. Then if my analysis has positive results, I consider trading their cryptocurrency/token.

[batang_bitcoin]

What do you base your decisions on when you enter a trade in the crypto-sphere?

The risk definitely is the first deal. I make sure that I can take the risk if ever I lose in my trade but if not then that's an achievement and it boost my confidence as a trader. Before I listen to those news that are literally giving the market a bad sign to collapse or put into a correction but now I don't. I'm not that good in trading so getting those helpful advice from other traders which I think will be beneficial to my trading habit is being absorbed, we are all old and we know what are the good advice and not because other advice now are just shilling their coins.

[Lifestudent38]

I always check the project behind the coin/token I am trading and their news channels. The team is also important and where they are on their roadmap. The thing that is most important to me, is if they do stick to their timeline and deliver updates on time. Then if my analysis has positive results, I consider trading their cryptocurrency/token.

How do you know that the team of people are who they claim they are? We have seen many projects/ico's with pretty pictures of team members only to learn later on that it was a fake representation! I think its good here if you can reach those team members and interact with them via Telegram/ Twitter/ Linkedin.

I fully agree with the view that updates are delivered according to a roadmap of the project - the delivery of the service or app are usually the most significant sign of trust for me  I will also add that even with late updates - its okay but it will make a person more cautious about trading with them in the future.

[Lifestudent38]

What do you base your decisions on when you enter a trade in the crypto-sphere?

The risk definitely is the first deal. I make sure that I can take the risk if ever I lose in my trade but if not then that's an achievement and it boost my confidence as a trader. Before I listen to those news that are literally giving the market a bad sign to collapse or put into a correction but now I don't. I'm not that good in trading so getting those helpful advice from other traders which I think will be beneficial to my trading habit is being absorbed, we are all old and we know what are the good advice and not because other advice now are just shilling their coins.

Absolutely, never ever enter a trade with funds you cannot afford to lose!!

The reason why I was asking is because BTC and ETH most notably does not seem to respond on technical levels they way FX or commodities do... and I am sensing some foul play - like miners pushing up prices and then dumping when they reach their targets.

[Lifestudent38]

The one thing that has scored me some winning trades is Price Action trading.

Example was LTC/BTC that was at 0.006 during December which was the lower end of the price range, I bought LTC on that dip thinking it would go easily to 0.01 (good 40% return) only to awake to it going ot 0.021 - a cool 300% return  )

It would be awesome to spot more opportunities like this...

[jagaban]

I'm an upcoming trader and I use Bittrex exchange. I prefer long term trading and for that I use fundamental analysis. Here I listen to news and events about coins on the exchange. I make my trade based on this and it never fails me.

[Semight12]

One of the best factors to be considered while trading is the news update about the commodity you are trading. You can buy base on upcoming event of the coin you are buying and sell while price goes up. News affect price of every coin both positively and negatively

[Leftneck]

which must be considered is the ico background, such as the development team whether it can work well or not.
lalilu see ico review from other web.

[anti-scam]

One of the best factors to be considered while trading is the news update about the commodity you are trading. You can buy base on upcoming event of the coin you are buying and sell while price goes up. News affect price of every coin both positively and negatively

this is what I worry about, a lot of people make a bad issue to press the price. This issue always succeeds in making BTC prices plunge, and traders feel panicked so the market experiences a bad trend.
Traders need quick and precise information to be able to anticipate this.

[allezbitcoin]

One of the best factors to be considered while trading is the news update about the commodity you are trading. You can buy base on upcoming event of the coin you are buying and sell while price goes up. News affect price of every coin both positively and negatively

this is what I worry about, a lot of people make a bad issue to press the price. This issue always succeeds in making BTC prices plunge, and traders feel panicked so the market experiences a bad trend.
Traders need quick and precise information to be able to anticipate this.

We are in the world of cryptocurrency so things like that is something reasonable, especially now that many people are happy to make bad news about bitcoin. the news is not good for bitcoin and make bitcoin prices go down, of course their goal is only one that is for earn big profits.

[Svelto]

I will look a few factors before buying a coin. For long term hold, the product must be disruptive to the market. I will then look at the roadmap and development of the project. If the above factors are good, I will proceed to buy the coin.

[bozo333]

Trading is the best way to earn more money in quick period but this platform is little risk so we should analyse the right coin in right time then only it will make huge profit in this platform. But lot of traders are failed in the first trading so we must trust our trading it will more supporting to future investment.

[IgorShumilo]

I make several decisions:
1. Do not invest more than 20 percent of my salary.
2. Do not invest all funds in one coin / token.
3. Do not participate in pumps.
4. Before buying a coin / token, study more information about it.
5. Look at the situation on the market, buy when the time bears and sell when the bulls are.
6. Follow the news on a specific coin / token.

[dollarneed]

I make several decisions:
1. Do not invest more than 20 percent of my salary.
2. Do not invest all funds in one coin / token.
3. Do not participate in pumps.
4. Before buying a coin / token, study more information about it.
5. Look at the situation on the market, buy when the time bears and sell when the bulls are.
6. Follow the news on a specific coin / token.

Completely agree with you.
The point is don't invest more than you can't afford to lose. In addition, just invest with your extra money and don't forget to make a research about the coin that you want to invest in, there are so many shitcoins out there so we have to be selective in selecting whether the coin has good future or not.

[shirackjs]

I make several decisions:
1. Do not invest more than 20 percent of my salary.
2. Do not invest all funds in one coin / token.
3. Do not participate in pumps.
4. Before buying a coin / token, study more information about it.
5. Look at the situation on the market, buy when the time bears and sell when the bulls are.
6. Follow the news on a specific coin / token.

I agreed with all the points and it is similar to my investment principles. By following the points, i made quite a number of good trades. The principles also help me not to get into fomo and pumps.

[Ridwan Fauzi]

If you want ask about trading or to be a trader you can learn more in this section https://bitcointalk.org/index.php?board=8.0 there a lot information about trading.

Being a trader you should be able to manage your mental or lust. Analyze is restriction to knowledge when you buy and sell, but the deciding is your mental and lust. Technical analysis and fundamental analysis is the knowledge you should learn before starting trading, starting trading is very easy to do but to get your profit does not determine within a month.

[gowobonyok]

Crypto trading can be very profitable but the risk is also great. different from other assets, bitcoin the price can change in a very short time.

[anti-scam]

One of the best factors to be considered while trading is the news update about the commodity you are trading. You can buy base on upcoming event of the coin you are buying and sell while price goes up. News affect price of every coin both positively and negatively

this is what I worry about, a lot of people make a bad issue to press the price. This issue always succeeds in making BTC prices plunge, and traders feel panicked so the market experiences a bad trend.
Traders need quick and precise information to be able to anticipate this.

We are in the world of cryptocurrency so things like that is something reasonable, especially now that many people are happy to make bad news about bitcoin. the news is not good for bitcoin and make bitcoin prices go down, of course their goal is only one that is for earn big profits.

They do it in an organized and well-planned way, look at just a few months ago Bitcoin is constantly under pressure and bad issues come and go.
and now they are enjoying their work, because they managed to buy Bitcoin for a cheap price.
A lesson that panic will make them more happy.

[shinratensei_]

What do you base your decisions on when you enter a trade in the crypto-sphere?

The risk definitely is the first deal. I make sure that I can take the risk if ever I lose in my trade but if not then that's an achievement and it boost my confidence as a trader. Before I listen to those news that are literally giving the market a bad sign to collapse or put into a correction but now I don't. I'm not that good in trading so getting those helpful advice from other traders which I think will be beneficial to my trading habit is being absorbed, we are all old and we know what are the good advice and not because other advice now are just shilling their coins.

Absolutely, never ever enter a trade with funds you cannot afford to lose!!

The reason why I was asking is because BTC and ETH most notably does not seem to respond on technical levels they way FX or commodities do... and I am sensing some foul play - like miners pushing up prices and then dumping when they reach their targets.

Of course how the majority of newcomers are entering the crypto market with all of their amounts that they can't afford to lose and a lot of people are being so mad after they are getting a bit lost in their amount. I don't think so, miners are not involving in the market manipulation. I guess they are only trying to get their revenue from mining the coin.