How to be a good traders of altcoins?

[sherenikaw]

To be a good trader of altcoin, we must at least have a good strategy, good patience, and also good behavior.
Well, trading is something easy, but of course, it may give us the big risks. Higher the risks will probably give us higher profits.
To be a good trader, we must first learn many things about each coin that is suitable for trading or not. We must also learn from our experience, setting the right strategy, know the market circulation and systems.

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[samcrypto]

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 altcoins is profitable if you have a good experience, you found out the best way to earn cryptocurrency and its trading. Start to work about it, there’s no best time in trading with any coins because trading is about timing the market and that way you have to learn more about it.

[jawatulen]

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?

my simple strategy is by using an Indicator,,
and usually i use RSI indicators combining with EMA, when the price touch oversold area i will buy,
then if the price touch overbought area i will sell my alts  

[BITDV]

According to my experience here is my litle advice

1. Make your own standard qualification for coin to trade, otherwise there will be lot of chances like you said
2. Focus only with five altcoin and maximum in seven altcoin, to many altcoin to watch will make you lost focus and then loss
3. Watch support and resistance for every coin, if a coin drop and almost touch support line do not open position to trade just more watch at this coin (I assume you want to buy)
4. Do not engage in pump coin, it will make a new tears later (I assume you don't have those coin, and so don't buy). It's better regret because not buy those coin rather than lose
5. If you have altcoin, and your altcoin being pump so cheer up, watch more at this coin and sell at best price. Do not greedy like you want to sell at higher price. Let say you sell your coin at 400 satoshi and seven hour after you sell your coin goes to 600 sathosi, i advice you don't buy coin at those price (600 satoshi) and hope you can sell at 700 satoshi

This is work for short trade, for long trade and carry trade i have another standard

[hirushaa]

Do not invest your money without analysing about the coins .. you need to recognize the variations of the price charts .. There are some tricks to get an idea about the price variation of a coin .. so first of all you need to analize about that .. and if you need to buy a coin , you should analise the price variation of that particular coin for last year of last few month..

[tondenga2122]

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?

There are many traders that I see that can't handle their emotions.
When the price down, they are immediately panic and start selling their altcoins at the bottom. And then after the price bounce and goes up higher, they start buying at a high price.
This is why the main thing to learn from trading is how to handle your emotions. Emotions are the main skill to become a good trader.

[Caishen_Project]

The truth is altcoins trading are truly complex, don't let anybody say otherwise to you, it's what I have experienced. So my candid advice is this, before going fully into this altcoins trading, get an expert who very good in reading charts and that also know how to follow market movements and decisions, he or she can help you out by training you. That's my advice

[HellDiverUK]

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?

I dont think its best time to buy altcoin, its time to buy more bitcoin. If we look at the graphic of bitcoin in 2017 every bitcoin increase will be followed by altcoin, but this is not happening absolutely now, many altcoins fall when bitcoin goes up and goes down if bitcoin goes down. This is a new thing that is likely due to stable coins such as USDT etc..Many traders after making a profit from Bitcoin save it to a stable coin, not to altcoin

[akram143]

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?

1.Start with good capital.

2.Don't pick shit coins for long term.

3.Follow the trend.

4.Use market cap but don't use it alone to find prices.

5.Learn lessons from your mistakes.

[KrosaKz]

This is not an easy job, traders do this with different strategies and the level of expertise they know. True traders are old traders who have traded all the time, they have extensive knowledge about this. but i am not included. I prefer to take part in a long term investment

[poornamelessme]

In this current market, a good trader does his research, buys an altcoin on a dip on a good coin, then watches btc go crazy and crush the entire alt market, stares in horror as his alt collapses and if he's lucky, only loses about 20-30% on his/her investment. A bad trader loses 50-90%.

An exaggeration, of course, and I'm sure there are traders making some money under current market conditions. But right now trading alts probably isn't that profitable for most. Even buying good coins and timing things may not matter much, when the market is in freefall.

[Iykecollinz]

After several failed attempts trading altcoin along with the volitle btc pair, I have decided to stick with bitcoin and altcoins that only the stable coin pair like usdt, Usdc, Pax or usd on exchanges. At least I will be confident that I have made some profit and it is retained than keeping it in btc and btc falls the next day

[qazgroup]

What i have learnt is that there are two very high impact factors that are the main reason of altcoin price movements one of them is the fundamental news of the project/company/team behind the alt and secondly the most important factor that is driving the alt price nowadays is the btc dominancy which is growing and having a negative  impact on alt prices at the moment, lastly technical analysis is also a key thing but again it can be helpful all the times.

[iTradeChips]

Planning is essential to become a good trader. I always have a spreadsheet with me that has a list of the prices of the altcoins that I want to invest with and then I do some analysis as to when will I be making a buy of that coin. Then using a little math to calculate how much I want to earn and how long I could achieve that, then I make a sale. Then profit. After that you repeat.

[chanler]

A good trader should meet some criteria, but of course, everybody has different criteria. 'At least, they should have these things:
1. Awareness of the risks and profits that will be gained as a trader
2. Updated info andmarket analyze on the market.
3. Experienced
4. KNow well about the right coins for trading, for investment or holding
5. Never be panic whatever the condition of the market
6/ Can take the right decision at the right moment
7. Want to learn and learn more by doing and learning about crypto updates and its certain strategy

[Furious 7]

Very dizzy to follow the movements of altcoin, difficult to predict. I almost gave up becoming a trader.
altcoin is always changing and influenced by bitcoin, I did not find altcoin interesting to trade.
maybe BNB is the only coin that looks interesting.

[South Park]

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 altcoins is no different than to trade any other asset since there are basically only to ways to trade and that is to use fundamental analysis or technical analysis, but both have its limitations, in the case of fundamental analysis you need to try to analyze every single piece of information about the altcoin but the problem is the market is full of scammers creating fake news and falsifying information, so fundamental analysis does not seem to be as effective as it could, you could use technical analysis but the main condition to apply it is to do it in coins with enough volume so you cannot use it with icos and coins with a low volume.

[Rubick99]

If you mean that good trader is someone who always gets profit when doing the transaction on the market, that is impossible to do. We just can manage our balances wisely to buy altcoin, like buying a coin step by step to reduce the risk and taking profit in the price that first time you have bought. One thing that you must know, where the price will be going after you bought them, not hoping that you will profit by gambling method.

[Handsome Boy]

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 best strategy if you want to trading on altcoin is :
1. You have to be patient (don't panic sell and panic buy)
2. always monitor the movements of altcoin (rising and falling coin that you want to invest or coin that you already have)
3. see opportunities (buy when there is a panic sell and sell when there is a panic buy)
4. provide a profit target and not greedy (I usually always target to get a 5-10% profit)
5. always read news about cryptocurrency, because it can give you a reference to choosing good altcoin as an investment

and true, that now is the right time to invest in altcoin, because the price of altcoin is still cheap and has not risen very high (bull run) for now, so this is your chance to get a big profit before the price of altcoin rises very high.

[mr_random]

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 best strategy if you want to trading on altcoin is :
1. You have to be patient (don't panic sell and panic buy)
2. always monitor the movements of altcoin (rising and falling coin that you want to invest or coin that you already have)
3. see opportunities (buy when there is a panic sell and sell when there is a panic buy)
4. provide a profit target and not greedy (I usually always target to get a 5-10% profit)
5. always read news about cryptocurrency, because it can give you a reference to choosing good altcoin as an investment

and true, that now is the right time to invest in altcoin, because the price of altcoin is still cheap and has not risen very high (bull run) for now, so this is your chance to get a big profit before the price of altcoin rises very high.

Patience is the important factor in the trading and ignoring it will lead the more losses. Having a decent trading setup will let the trader take the opportunities to form the altcoin market strategy. Reading the daily news will make the person more knowledgeable trader and having enough understanding is always good than trading blindly the volatile crypto markets. Profit trailing bots will do a job instead of tracking every single trade setup one by one, subscription fee worths to give a privilege the software programmers for the same job. Overall, the generalization will only explain the idea to the beginner altcoin traders but it is not sufficient for comp[letyin the crypto trading lessons.