r32godzilla
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August 24, 2018, 03:20:14 AM |
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First of all you should know that mostly altcoins are just pumped and dumped.Before buying any coin,i would advise you to check its price history by analysing the one day,one week and of course one month chart so that you could get a clear idea about that coin.Don't ever buy a coin just on seeing its price increasing fastly as it could be getting pumped.Since you are a newbie,i advice you to stick to older coins are their prices are little bit stable than newer coins.
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Findingnemo
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August 24, 2018, 06:19:48 AM |
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You need to be really lucky to have get away from the bear maket because we don't know about that until it happens maybe panic sellers are the one who stay away from the bear and also from bull markets.If you really want to make money in crypto currency don't try to stay away you need to take such risks.
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oanhphong
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August 24, 2018, 06:58:42 AM |
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Bear market is showing coin is constantly falling on the Bitcoin market. At this point, the psychology of fear and pessimism of investors spread the market and they will sell off all coins. The downward spiral of price is stronger. And they will buy to wait for whales. When we deal with electronic money need a bear market. They represent the market situation, where the market means the market is functioning well and there is more capital flowing into the market and on the other hand a growth market where the market is healthy and money is pushing into the market.
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bohr
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August 28, 2018, 09:28:06 PM |
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One important lesson to learn as far as cryptocurrency goes is that, you can not time the market no matter how skillful you in reading chart and graphs, you can only control your trading and investment entry and exit!
Of course you can't time it correctly you just read the charts and graph. The charts and graphs only speaks of the past. You should keep your self aware of the current events too. These events have a huge influence on the market. Events can trigger the price to go down (an exchange hack) or go up (lets say ETF approval). Also "expectations" can also lead the price to go above or fall. This is a big problem for many traders, they want to sell at the very top of the market and there are very few people able to do that and most of them are just lucky, it is impossible to predict what is going to be the maximum price of bitcoin but that doesn't matter as long as you sell when the market is going up and we are in the middle of a bull market you will still obtain great profits, it's not important if for example you sold at 15000 when you should have sold at 19000 in the last bull market, you still obtained profits and that is what matters.
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Jaycee99
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August 28, 2018, 10:26:30 PM |
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Guys, I am rather new to trading. Initially when I did get into crypto currencies my idea was to select a few coins and HODL until their value appreciated and maybe cash out some tokens whenever i am in need of money. Little did I know I was in for a big surprise few months into crypto currencies the market was so volatile.
However from what I noticed was if a trader, learnt to sell off in the high and then when the market inevitably pulls back we could secure ourselves a much higher position in the same tokens or different but for this to be done we need to be pretty good in our TA i guess and I am now very determined to explore this side. Can anyone please advise me how I should get started, some recommendations of what to read, what to watch and also the risk associated with what I plan to do.
Thanks so much.
Choosing the right strategy is the basis for Bitcoin trading, because the price of Bitcoin can change every day, this daily trading aims to find a quick profit from the movement of Bitcoin prices in the short term, so you should pay attention to support, resistance and moving averages to make sales or purchase. Agree making a strategy is a golden option for every trader and a person who will hold cryptocurrency. Making strategies will help you but still in thise strategy we will go down on the 1st try. So knowing how to handle it a a good option as well and not making any bad decisions in the end that you will regret. PS: Know a way, strategy but know how you will take failure. One important lesson to learn as far as cryptocurrency goes is that, you can not time the market no matter how skillful you in reading chart and graphs, you can only control your trading and investment entry and exit!
Of course you can't time it correctly you just read the charts and graph. The charts and graphs only speaks of the past. You should keep your self aware of the current events too. These events have a huge influence on the market. Events can trigger the price to go down (an exchange hack) or go up (lets say ETF approval). Also "expectations" can also lead the price to go above or fall. This is a big problem for many traders, they want to sell at the very top of the market and there are very few people able to do that and most of them are just lucky, it is impossible to predict what is going to be the maximum price of bitcoin but that doesn't matter as long as you sell when the market is going up and we are in the middle of a bull market you will still obtain great profits, it's not important if for example you sold at 15000 when you should have sold at 19000 in the last bull market, you still obtained profits and that is what matters. Few trader? As I know trader who are into trading has an option where they know "buy low sell it high" then make this happen by loking a the crypto on the time of the situation or rather everytime when they schedule when or when they want to.
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Arthurian60
Newbie
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Activity: 234
Merit: 0
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August 29, 2018, 05:14:40 AM |
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During bull race, its very easy to exit your trade. One thing is clear, you are already making profit and you will want to make more but the right thing to do is to exit trade while you are on your profit. It could be hard during bear market.
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tosmartak
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August 29, 2018, 05:39:59 AM Last edit: August 29, 2018, 06:28:59 AM by tosmartak |
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Just know how to monitor trends and you will be fine. That is the essence of technical analysis most times and it is not like you have to draw up so many lines on the chart before it will be effective. There are lots of trend indicators you can make use of, utilize them to see price actions on certain supports and resistance, then see the possibilities of trend changing in most cases.
Always remember that it is a market and things can change as well as fake signals coming up which means you cannot always be 100% right and that is why you will always need your stop loss based on your strategy. MA and Ichimoku cloud coupled with any momentum indicator can suffice such as Stoch RSI so you can at least monitor overbought and oversold zones as well.
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sedahan13
Member
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Activity: 462
Merit: 10
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October 07, 2018, 09:38:04 AM |
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History price of each crypto will give you answer for that, since Bitcoin created and tradeable on the market the price is very high volatility, the price can be going up 10 to 20 times in afew month and then going down to 80% to 90%, so if you like to start hold Bitcoin or others crypto you have to start when the price already going down to 80% to 90% and then hold it until reach 10 or 20 times.
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TheUltraElite
Legendary
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Activity: 3052
Merit: 1327
Ready for diwali/halloween?
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October 07, 2018, 09:42:21 AM |
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During bull race, its very easy to exit your trade. One thing is clear, you are already making profit and you will want to make more but the right thing to do is to exit trade while you are on your profit. It could be hard during bear market. I think everyone here knows that one should sell for profit while its in bull market. You dont need to reiterate that except to newbies. You need to be really lucky to have get away from the bear maket because we don't know about that until it happens maybe panic sellers are the one who stay away from the bear and also from bull markets.If you really want to make money in crypto currency don't try to stay away you need to take such risks. Staying away is not a bad thing. You can stop trading and watch the market for a period until the tides turn. Its for every trader to know when to buy and when to sell. You would not want to give in to the FUD on the market and sell at loss. Unless its some really bad shitcoin you wont want to do it. For major altcoins and bitcoin hodling till we see a uptrend is how it should be done.
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naidray
Legendary
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Activity: 1232
Merit: 1029
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October 08, 2018, 09:12:56 AM |
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Guys, I am rather new to trading. Initially when I did get into crypto currencies my idea was to select a few coins and HODL until their value appreciated and maybe cash out some tokens whenever i am in need of money. Little did I know I was in for a big surprise few months into crypto currencies the market was so volatile.
However from what I noticed was if a trader, learnt to sell off in the high and then when the market inevitably pulls back we could secure ourselves a much higher position in the same tokens or different but for this to be done we need to be pretty good in our TA i guess and I am now very determined to explore this side. Can anyone please advise me how I should get started, some recommendations of what to read, what to watch and also the risk associated with what I plan to do.
I think the wisest decision would be when the price of something goes up you could use trailing stop, which means you can put up 5% increases incrementally and whenever it goes down back to the 5% level you sell it. (For more clarity on this, please google for how to trade with trailing stop-loss strategies, there would be lots of articles to guide you better toward making you a master on it.) For example, you buy something at 100 and it went up to 107, if it goes up to 110 you reset the sell price to 110, when its 113 you wait, if it goes down to 110 you sell if it goes up to 115 you reset back to 115 and you keep doing this with each 5% price of it. That way you can both keep going up with the price during bull and never fear the bear because max you could ever lose is 5% with this.
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raven7886
Legendary
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Activity: 1512
Merit: 1041
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October 09, 2018, 04:07:07 PM |
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History price of each crypto will give you answer for that, since Bitcoin created and tradeable on the market the price is very high volatility, the price can be going up 10 to 20 times in afew month and then going down to 80% to 90%, so if you like to start hold Bitcoin or others crypto you have to start when the price already going down to 80% to 90% and then hold it until reach 10 or 20 times.
Talking about supports, resistance and then price action, I guess they are like the main things that apply to every form of trading when it comes to knowing when you should be buying and when you should be selling. Getting in and out of the market requires strategy and as long as you do not have one, then you are simply gambling. Now, one thing with strategy is that, there are so many strategies and a strategy used by A may not be a strategy used by B, but what is important is to find your own that suits you best and stick with it, and that is the only way you will even be able to have an idea where to sell or buy or set stop loss as the case would be.
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emmybd
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October 09, 2018, 05:53:44 PM |
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It can't be exactly predicted when to enter and pull out of the market, but you would learn a lot of things as you gain experienc, so be patient and carry on trading as the time passes you would gain experience.
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BALIK
Copper Member
Hero Member
Offline
Activity: 2254
Merit: 608
🍓 BALIK Never DM First
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October 09, 2018, 06:01:18 PM |
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I'm really not a fan of technical analysis, I see too many groups promoting TA and the majority of them get it wrong. The cryptocurrency markets don't follow expected trends, and certainly don't have any recurring patterns that can be predicted with any reliability. I prefer to stick with sentiment analysis, if you see market sentiment significantly dropping, then get the hell out quick, and vice-versa. You can also look at the volume, if there's a significant drop, take it as a bearish indicator, and again vice-versa.
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minairia3
Sr. Member
Offline
Activity: 1638
Merit: 326
Vave.com - Crypto Casino
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October 09, 2018, 06:25:56 PM |
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Guys, I am rather new to trading. Initially when I did get into crypto currencies my idea was to select a few coins and HODL until their value appreciated and maybe cash out some tokens whenever i am in need of money. Little did I know I was in for a big surprise few months into crypto currencies the market was so volatile.
However from what I noticed was if a trader, learnt to sell off in the high and then when the market inevitably pulls back we could secure ourselves a much higher position in the same tokens or different but for this to be done we need to be pretty good in our TA i guess and I am now very determined to explore this side. Can anyone please advise me how I should get started, some recommendations of what to read, what to watch and also the risk associated with what I plan to do.
Thanks so much.
Can you take the no real money trade for atleast 3 months? And this is just the practice period and not the study. Though you can mix the theoretical and application approach for better learning, one can attest that you really need patience to have a discipline. This is to test your emotions and greed in ways to be objective at all times. However I believe that emotions can be tame in the real arena.
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Diced90
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October 09, 2018, 09:13:53 PM |
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If your idea of trading the bitcoin in to trade in and out of bitcoin market, your bitcoin would be spent and you wouldn't know when you have gotten out wrongly and miss the opportunity and benefit you would have gotten if you hold!
I agree. If one all it does is in and out of markets then the benefits of long term holding will not be encountered. Plus, I feel that in this manner people don't value the coin as much.
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Nellayar
Full Member
Offline
Activity: 868
Merit: 185
Roobet supporter and player!
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October 09, 2018, 09:41:24 PM |
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I think you can use some indicators to find out that there is already a reversal of trend. These indicators will help us to identify when the trend will change or will continuously going to its direction. I use MACD or BOLLINGER BANDS to know if the trend is at my bias. However, i do not depend only on TA rather I make research or view some news.
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prtty2gal2
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October 10, 2018, 09:25:30 AM |
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During bull race, its very easy to exit your trade. One thing is clear, you are already making profit and you will want to make more but the right thing to do is to exit trade while you are on your profit. It could be hard during bear market. I think everyone here knows that one should sell for profit while its in bull market. You dont need to reiterate that except to newbies. You need to be really lucky to have get away from the bear maket because we don't know about that until it happens maybe panic sellers are the one who stay away from the bear and also from bull markets.If you really want to make money in crypto currency don't try to stay away you need to take such risks. Staying away is not a bad thing. You can stop trading and watch the market for a period until the tides turn. Its for every trader to know when to buy and when to sell. You would not want to give in to the FUD on the market and sell at loss. Unless its some really bad shitcoin you wont want to do it. For major altcoins and bitcoin hodling till we see a uptrend is how it should be done. At least if OP don't know when to get in and out, he can read how market was. And then he can analyze by himself so he will know when is right time to jump or out from bear/bull market. I would not even advise anyone who wants to trade to go ahead after asking such a question as that shows how ignorant he is when it comes to trading and will have a lot to learn before he should even start considering trading at all. It is bad to see how people think trading is just a piece of cake they can just hop into but there is a lot to it. People will always tell you when to buy in or sell based on their own strategy and asking a question like this will only confuse the OP the more with all the answers he will get. The best things is to learn, get a strategy, keep refining and building on it and then get better at your trading skills over time.
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iASIC
Member
Offline
Activity: 308
Merit: 10
AMA BCT
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October 10, 2018, 12:00:49 PM |
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Guys, I am rather new to trading. Initially when I did get into crypto currencies my idea was to select a few coins and HODL until their value appreciated and maybe cash out some tokens whenever i am in need of money. Little did I know I was in for a big surprise few months into crypto currencies the market was so volatile.
However from what I noticed was if a trader, learnt to sell off in the high and then when the market inevitably pulls back we could secure ourselves a much higher position in the same tokens or different but for this to be done we need to be pretty good in our TA i guess and I am now very determined to explore this side. Can anyone please advise me how I should get started, some recommendations of what to read, what to watch and also the risk associated with what I plan to do.
Thanks so much.
It is based on your trading experience. Do not expect people to come up with the best solution for you. My sincere advice is to try to trade with a small amount of money. Set your goals and strategies. That is the most effective way to know what you need to know.
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galambo
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October 10, 2018, 12:14:40 PM |
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I actually think you might need a long time to understand this. Understanding the start and end of bear/bull markets is not really that easy and once we claim to understand it we can stay out of risk of loosing our funds in a dump. peoples usually try to understand these markets and they consume a more than predictable time which than makes them bear the losses and consequences.
Bitcoin markets are much unstable and also are not that trustworthy. They can anytime move up or move down which can give us a major loss. Even if we are an hour late, we can see the price reaching the dip. This usually demotivates most of the traders and they get afraid of the bear/bull markets.
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