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suvo05 (OP)
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August 04, 2019, 05:50:45 PM |
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When it comes to the trading of altcoin the I find it is one of the most complex jobs. There are lot of chances and possibilities. So to become a good trader of altcoins what are the main strategies do we need to have? Is it the best time to put money on the altcoin?
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Javi_Anibarro
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Activity: 1526
Merit: 282
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August 04, 2019, 06:00:25 PM |
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When it comes to the trading of altcoin the I find it is one of the most complex jobs. There are lot of chances and possibilities. So to become a good trader of altcoins what are the main strategies do we need to have? Is it the best time to put money on the altcoin?
Be active, smart and hardworking. cryptocurrency especially altcoin is not something that we can understand it easily because manipulation is one of the biggest parts in it. If you want to be a good trader, you need to learn everything about the object that you are traded for and then you need to read their community sentiment. Because the price is determined by the player themself. about the time, nobody knows. Because we are totally different between one and another, and everybody has different needs too. So it is extremely hard to figure out what is the best time to put our money because we have a different perspective, goal and else. |
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yangongear
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August 04, 2019, 06:05:12 PM |
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When it comes to the trading of altcoin the I find it is one of the most complex jobs. There are lot of chances and possibilities. So to become a good trader of altcoins what are the main strategies do we need to have? Is it the best time to put money on the altcoin?
The most logical way is that you should only trade the Altcoins/USDT pair (or with another stablecoin) instead of the ETH or BTC pairs. Because of that you only have to analyze the volatility of Altcoins, it is easier for you to keep track of both prices of Altcoins and BTC. In principle, you can buy gradually when the market falls, and sell when it grows again. |
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Cnut237
Legendary
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August 04, 2019, 06:07:12 PM |
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1. Have a plan and stick to it. Define your entry points and exit points before you start, and then stick to them.
2. Be logical. Don't succumb to FOMO or panic-selling.
3. Don't hold on too long. If a trade starts going the wrong way, then re-assess it to decide if this trend is likely to continue. Know when to cut your losses.
4. Get some experience. This is the best teacher.
5. Stay away from low volume coins that have a big bid/ask spread (big gap between highest buy order and lowest sell order). You'd need a big market swing on these just to break even.
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suryapro
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August 04, 2019, 06:16:35 PM |
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Something you need to learn, if you want to trade is to have to know exactly where you will trade. And looking for information, as much as you can about how to trade properly.
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rijaljun
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August 04, 2019, 06:20:40 PM |
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Just do it, you will have your own strategy after experience falling. Mentality is power, it doesnt matter how great your strategy if you can't win your ego, then you will always fall.
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herurist
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August 04, 2019, 07:46:57 PM |
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The most important thing is patience as a trader, we have to see good altcoin coins and be able to read charts and know the latest news about altcoin in some of the most important extraordinary people from Twitter or the website, maybe that will be a strategy for you.
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satriagedhe
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August 04, 2019, 07:53:32 PM |
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for me , first thing to do when want to trading on altcoin is checking the bitcoin price , when the price is on stable price then i will start to trading for alt coin
usually alt coin always get down when btc get pump or dump
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hrunya102
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August 04, 2019, 08:02:21 PM |
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Part of the investment in Bitcoin part in usd and waiting for the start of the Alt season, this is my strategy until Bitcoin gaining dominance, you cant normal trade.
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_ZeD_
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August 04, 2019, 08:12:30 PM |
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Part of the investment in Bitcoin part in usd and waiting for the start of the Alt season, this is my strategy until Bitcoin gaining dominance, you cant normal trade.
Bitcoin is increasing its dominance. That alt season will be I'm sure, but to properly determine its beginning it is almost impossible task. |
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#Darren
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DIA | Data infrastructure for DeFi
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August 04, 2019, 08:14:40 PM |
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Hard work pays off. This is a very important rule for every trader, because you would not achieve good profit without hours of work. Moreover, you should not panic at difficult situations, always stay calm and make cold blooded decisions.
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CryptopreneurBrainboss
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August 04, 2019, 08:30:08 PM |
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When it comes to the trading of altcoin I find out, it is one of the most complex jobs. There are lot of chances and possibilities. So to become a good trader of altcoins what are the main strategies do we need to have? Is now the best time to put money on the altcoin?
Just edited your OP to make it more understandable, trading of altcoin to be profitable has to do with, how informed you are as a trader and what are you chances of making the right call in regards to buying or selling your bag due to your speculation of what a news effect will have on the price of the altcoins. The altcoin market unlike that of bitcoin is mostly motivated by hype (a marketing strategy employed by altcoin to promote their project) irrespective of how legitimate or quality an altcoin is, without any hype of the project it becomes a dead project or goes under the radar away from the mainstream media. The best strategy has to do with buying the rumors (that's why I said you have to stay informed) if a project is getting listed on a high volume exchange anything soon it's a clear sign some hype will come towards that project which will reflect on the price of the coins so as a trader your job is to take advantage of that opportunity to by the rumors in anticipation of the news to sell (take profit). |
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anjho.ace
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August 04, 2019, 08:37:24 PM |
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You need to do researches and studies with alternative cryptocurrency, its team and its development.
You need to get the best alt to buy and save it to earn. if you want to do day trading then it is different from buying and earn later.
You need to be more knowledgable in market and its volume plus the movement.,
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passwordnow
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August 04, 2019, 10:19:55 PM |
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When it comes to the trading of altcoin the I find it is one of the most complex jobs. There are lot of chances and possibilities. So to become a good trader of altcoins what are the main strategies do we need to have?
You must be good in analysis. It's the main basis on how you will decide with your each trade. You need to be updated also with what's happening in the market including the coins that you hold and you are trading so that you can see if there's a buzz happening for that specific coin. Is it the best time to put money on the altcoin?
No, bitcoin is. |
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Twinkledoe
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August 04, 2019, 10:24:21 PM |
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1. Have a plan and stick to it. Define your entry points and exit points before you start, and then stick to them.
2. Be logical. Don't succumb to FOMO or panic-selling.
3. Don't hold on too long. If a trade starts going the wrong way, then re-assess it to decide if this trend is likely to continue. Know when to cut your losses.
4. Get some experience. This is the best teacher.
5. Stay away from low volume coins that have a big bid/ask spread (big gap between highest buy order and lowest sell order). You'd need a big market swing on these just to break even.
To add also from the above list, a trader should know at least the background of that specific altcoin he wants to trade with. If he is trading that coin blindly or without any idea where the developments of that coin is heading to, he might be trapped in pump and dump coins or crappy coins that have been continuously wash traded by the dev team to attract potential buyers. Learn the basics of that coin and their market trend behavior so you have the grasp of what's going on with that coin. |
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[btc]YSG
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August 04, 2019, 10:26:53 PM |
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When it comes to the trading of altcoin the I find it is one of the most complex jobs. There are lot of chances and possibilities. So to become a good trader of altcoins what are the main strategies do we need to have? Is it the best time to put money on the altcoin?
Trading of altcoins is more difficult than trading Bitcoin, altcoins have a higher fluctuating prices and mostly not available on every exchange. The best strategy is to have small profit/loss margin, and stick to the plan without chasing bigger profits. |
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WalkerIVIV
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August 04, 2019, 10:38:22 PM |
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When it comes to the trading of altcoin the I find it is one of the most complex jobs. There are lot of chances and possibilities. So to become a good trader of altcoins what are the main strategies do we need to have? Is it the best time to put money on the altcoin?
Keep learn and watching the direction of the market and that's a must and i assume you are a new trader that wanna try your chance to trade in the crypto market, right? This is not the best time to put all of the money in altcoin and you just waiting for at least a big drop in altcoin before you try to invest your money to decrease the risk to lose your money. Just be patience waiting for the bearish trend to happen and the timing is an important part when you are aiming to get a lot of profit. |
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key4co.in
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August 04, 2019, 10:50:52 PM |
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Firstly, to be a good trader, you need to understand technical analysis to the core. Secondly, avoid buying coins blindly, buy because you have analyzed fully and decided to buy. Set your stop loss and also avoid greed. Do not rely on people's judgement, do your own research and also, follow your mind. When you think it's time to get out of the trade, do so. Talking about things to do to become a good trader will mean writing a book, I hope my few points aid.
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danggoron
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August 04, 2019, 10:53:05 PM |
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The most logical way is that you should only trade the Altcoins/USDT pair (or with another stablecoin) instead of the ETH or BTC pairs. Because of that you only have to analyze the volatility of Altcoins, it is easier for you to keep track of both prices of Altcoins and BTC.
In principle, you can buy gradually when the market falls, and sell when it grows again.
Trading coins or tokens are paired according to market conditions, whichever is more profitable. The theory is easy, buy when prices go down, sell when prices go up. But the analysis is not easy, there are many factors including indicators and the news and rumours circulating must be considered. Mental must also be managed well, avoid panic buy and sell. |
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goinmerry
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August 04, 2019, 11:00:52 PM |
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When it comes to the trading of altcoin the I find it is one of the most complex jobs. There are lot of chances and possibilities. So to become a good trader of altcoins what are the main strategies do we need to have? Is it the best time to put money on the altcoin?
When is the best time put money on altcoin? It depends on what altcoins you preferred to trade as all altcoins do have a different price behavior. Strategies are varied per traders too since they have a different set of altcoins. They also have different criteria when to execute a certain strategy. Following one of those strategies might become difficult for you. For now, I suggest sticking first with top altcoins before jumping on a low cap altcoin. |
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