Best Trading Strategies- Best Practices

[carter34]

Always check or study the market movement of a specific coin before investing. Be patient enough to wait for the right timing when to trade for you to be able to avoid losing your money. Analyze the factors why that coin is increases its price and why that coin dumps. In that way, you will be able to predict its next price at some point.

This is an easy and simple way to trade comfortably and make consistent profit. Again, avoid taking unnecessary risk especially if your analysis has not approved of it or confirmed it. Patience is key to waiting for the right signal.

[1714995477]

1714995477

[Slow death]

I'll be honest here

I learned about support and resistance, I learned about candles and then I started to trade, I open the exchange, I spend hours watching the chart and when I see the buying patterns I buy and sell when I see that it is at the right time to sell.

I don't have much knowledge of trade, but with this same method I'm doing well and that's what matters to me.

PS: there are days when I have a little loss because of the Stop - Loss, but when I have a profit I recover that loss.

Making a trade is not simple, especially when the person loses begins to be afraid to enter the market because he thinks there will be another loss.

[Negotiation]

Without these, patience is always required in doing business How can you succeed if you cannot work patiently? In trading you must control your emotions and move forward with patience. As well as following the techniques so many licenses need to be analyzed well before trading.

[Distinctin]

I only work with my grades according to what I understand the market movement. If you are able to read the chart, it gonna be good for you.
And the other thing is that we need to watch closely to the market trend, you'll don't need to sell your coins to much high if the price trend won't look that way cause you're going to bored of waiting before it sold out.

[bitbunnny]

Before decision about any type of trading model or strategy you need knowledge about cryptocurrencies and market. Also you need to define what is your final goal and time framework you want to achieve it.
Also, don't expect to become successful trader over nir, it takes time and experience. And don't copy others, what is good for someone else doesn't necessary be good for you too.

[Savemore]

I only work with my grades according to what I understand the market movement. If you are able to read the chart, it gonna be good for you.
And the other thing is that we need to watch closely to the market trend, you'll don't need to sell your coins to much high if the price trend won't look that way cause you're going to bored of waiting before it sold out.

Before we trade, we should first analyze the trend. We should find out if the strategy that we are going to use is applicable in that kind of trend. It is preferable to trade a coin if the trend is an uptrend because we are keep seeing higher highs and higher lows. Downtrend strategies are often called counter trend strategies where the risks are too high. I am not yet used to trade a coin that is in downtrend because my risk appetite is still low.

[Ryker1]

Well, you may also try to check the professional trader's portfolio and analyze how they do their trades in the market. The pattern they use and the assets they sell and buy. The chart might also help you and you need to take a quick view, always. You probably also check the news and the blogs about the altcoins so you can have a glimpse of what happens in the market. One I can tell is for you to keep on the trade market until you master it. The number one talent you need to possess in this industry is the persistence and emotion control. Never ever feed your risk appetite and avoid being greedy. Indeed, there is no specific strategy in Trading, --you have to learn your own strategy by trading often and learn from your mistakes.

[pajak666]

Best practice is using demo account or join some trading competition, look's hard and wasting time but you'll get every experience you need to face market risk. Your list is about analysis and tips to avoid big loss, safety is first thing need to do before replace open position. Read and watch is good but without practice you'll never know market works.

Competitions won't teach much about risk management unfortunately. In these to achieve high places you must go waaay more aggressive as this is what most people will do. Most of competitors will fail and bust, but most profitable/risky strategy will most likely win or place higher than real life strat which has to preserve capital in reasonable manner.

[breathlessz]

I only work with my grades according to what I understand the market movement. If you are able to read the chart, it gonna be good for you.
And the other thing is that we need to watch closely to the market trend, you'll don't need to sell your coins to much high if the price trend won't look that way cause you're going to bored of waiting before it sold out.

Before we trade, we should first analyze the trend. We should find out if the strategy that we are going to use is applicable in that kind of trend. It is preferable to trade a coin if the trend is an uptrend because we are keep seeing higher highs and higher lows. Downtrend strategies are often called counter trend strategies where the risks are too high. I am not yet used to trade a coin that is in downtrend because my risk appetite is still low.

maybe it will be easier to follow the uptrend as it is now, where we only need to hold long-term and wait for results, because like bitcoin right now, of course buying positions are more prospective and waiting for bitcoin to rise. and most important is psychology that we must pay attention to

[Yamifoud]

As a beginner, we must have to observe closely the price flow for us to have some ideas on its trend. There is no need to bothered looking for many strategies and even used it in trades, only you need that it seems to be most applicable to the current trend and you'll better on how to use it.

Even you have a lot of strategies you applied it doesn't give you assurance...it matters most the way you are going to play your trade. And newbie trader can do is to observe the market behavior and don't aim so high immediately.

[Negotiation]

I only work with my grades according to what I understand the market movement. If you are able to read the chart, it gonna be good for you.
And the other thing is that we need to watch closely to the market trend, you'll don't need to sell your coins to much high if the price trend won't look that way cause you're going to bored of waiting before it sold out.

Before we trade, we should first analyze the trend. We should find out if the strategy that we are going to use is applicable in that kind of trend. It is preferable to trade a coin if the trend is an uptrend because we are keep seeing higher highs and higher lows. Downtrend strategies are often called counter trend strategies where the risks are too high. I am not yet used to trade a coin that is in downtrend because my risk appetite is still low.

maybe it will be easier to follow the uptrend as it is now, where we only need to hold long-term and wait for results, because like bitcoin right now, of course buying positions are more prospective and waiting for bitcoin to rise. and most important is psychology that we must pay attention to

You are right I like to trade long term and the uptrend is really good at doing business The risk here is very low and you can easily find different strategies for doing business You can easily find out about currency prices and market conditions. You do not need to download anything, you must work objectively in order to trade.

[rianamitt]

What parameters need to be checked for market study before investing in Bitcoin

[onrise]

Best practice is using demo account or join some trading competition, look's hard and wasting time but you'll get every experience you need to face market risk. Your list is about analysis and tips to avoid big loss, safety is first thing need to do before replace open position. Read and watch is good but without practice you'll never know market works.

Initially people can try this for some time and see how the results are coming. Is their analysis going right or no. But finally, it is said till the time you do not enter the market you would not be able to check it completely as when your money is involved things changes. So, try with small capital and do trade on top coins initially to see your calls and how are the returns on your trades happening. Slowly you can move to little less expensive coins but be safe you deal in good coins and not unknown coins as risk in such coins is much higher as they can be delisted quickly as well.

[btcto200k]

A decent startegy that works for me is using RSI + 55 EMA on the hourly chart.

Basically, if RSI is going above 60 and the candle crosses the EMA, I go long.
if RSI is going below 40 and the candle crosses below the EMA, I go short.

R:R is atleast 1:5 or more. In Bitcoin, it happens to bounce around a lot and hit my SL often. Although its quite a good strategy for alts and such.

You can maybe try adding more indicators to this strat and refine it yourself. Currently I trade ETH with this startegy on BBOD (it has zero fee trading).
It works for me.

I also scalp a bit on there, zero fee is quite good for us scalpers.

Happy trading! 

[Hypnosis00]

One thing I consider most in trading is to know our own limitations. Some people push themselves in trading even though they don't have such capabilities. Yes, knowledge could be gain as we go into trading but the question is, are we preferred and accept losses? Maybe not.

If we know a word enough, we simply skip from losing too much. Changing our mindset to a positive one and being contented of what we might get during our trades( even it is just 1% gains), it surely we will go far.

[barbara44]

I'll be honest here

I learned about support and resistance, I learned about candles and then I started to trade, I open the exchange, I spend hours watching the chart and when I see the buying patterns I buy and sell when I see that it is at the right time to sell.

I don't have much knowledge of trade, but with this same method I'm doing well and that's what matters to me.

PS: there are days when I have a little loss because of the Stop - Loss, but when I have a profit I recover that loss.

Making a trade is not simple, especially when the person loses begins to be afraid to enter the market because he thinks there will be another loss.

Fear is the worst enemy of any individual. Trading markets never guarantees you about the profits but you do have to face some loss depending on the market conditions. Trading would be beneficial if you could follow few basic rules and the way you use to trade also might be beneficial at the initial stage but I am afraid, you would have to spend hours each day just to speculate the graphs and find approximate entry and exit points.

The method you use might also give benefits but hardwork is much required. On the other hand, you can learn more about the patterns and strategies like Bollinger Bands, RSI, etc which would make you able to predict the approx peak and dip to accumulate onto the markets.

[mbakruroh]

Your list is about learn trading by technical method but I think combine with fundamental will be great. Fundamental make from rumor and can invite people to enter/ out market with perspective not logic. Most people using this method for speculation and because this one technical method lost their great prediction. Stay learn and practice with your best method because practice make perfect.

[beerlover]

Usually when it comes to altcoins you could predict "why" something happened but not "when" something will happen, I know its not helpful that the price of a coin going up and you checking why means you are already late to it and you will have hard time figuring out what the next move would be depending on it so why would you care if you didn't profited.

However, reality is if you know the community of a coin that means you know a coin, if the community is excited about a deal with a company and increases the price, you can position yourself when you hear they are about to do another, if a coin gets a v2 development for proof of work, then you can position for v3 as well.

Check out what the community likes and dislikes and whenever you read news about them doing something similar in the future, buy some more and wait for it because more often than not community will react the same way once again.

[MufasaR]

I think all currency pairs require a different approach/strategy but from what I have seen and works most of the time, trade when you recognize the pattern and remember your risk management techniques to avoid blowing your account.

[davinchi]

Your list is about learn trading by technical method but I think combine with fundamental will be great. Fundamental make from rumor and can invite people to enter/ out market with perspective not logic. Most people using this method for speculation and because this one technical method lost their great prediction. Stay learn and practice with your best method because practice make perfect.

Which fundamental methods can actually be used in order to gain profits from the trading market? And I can't understand how could we be able to predict the false traps or rumors as you said just by doing some fundamental research? Technical Analysis plays an important part and it could really help us to recover and make profits from the highly volatile markets.

OP seems a new trader who have recently joined into trading and for his case, understanding and implying the points mentioned in the OP would be a good head start. People need to start slow in order to gain immense knowledge. If new traders hurry onto learning new things before understanding the previous thing consciously than I am sure they would only bear loss.