Taking Profits/Stacking Sats

[Bitlover10]

The market is really crazy and the way price manipulation going on is really bad impact on crypto market. The way shit coin pump is crazy.. Like yfi... In this market only and only big capital holder take profit because they manipulate price up and down. Leverage trading makes more risk for traders and exchanges don't think about it. Even in last dump binance not working and many people got liquidation. This should be stop

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[TheUltraElite]

Doing this manually is hard to be honest.

OP can develop his own bots to track markets. It is not that tough and AFAIK, he has knowledge on coding.

But for scalping , I would advice you to use  automatic trading bots since they are fast to execute your orders.

He already said in the OP that he does not want to use them.

The market is really crazy and the way price manipulation going on is really bad impact on crypto market. The way shit coin pump is crazy

Aha, thats the reason why many forum users have changed focus to trading. Unlike me who has been doing it since a long time. Me just watching the waves on my older shitcoins now and selling them.

Like if you bought them at this price it would be a mistake. Prices have risen and thus it is the time to dump them. Starting trading now is an incorrect one but not a bad one. 

Leverage trading makes more risk for traders and exchanges don't think about it.

Leverage and Spot are two different ballgames. If OP is new to trading I would suggest them Spot obviously and to stick to Spot later on because I feel it is the more safer of the two. Leverage and Margin just adds in more mental stress, which is important to minimize if you want to start healthy in this game.

Stick to bitcoins would be my advice. Time and again we have seen it prove it resilience in the same and if bought at good lows it can give good returns.

[Kelvinid]

Doing this manually is hard to be honest. You should use some bots like 3comma in order to automate your spot traders, else you are following some good signal providers with middle to long term signals. But for scalping , I would advice you to use  automatic trading bots since they are fast to execute your orders.

I don't believe that OP is looking for bots instead of his own. He actually wanted to trade manually and I know he has the capability to work on it or even near to perfections. Trading could only be hard if you are not comfortable with it and not your passion. No, nothing will it results good if we are not in our comfort zone.

Signals? Following those things is enough for you to drag in hell. Signals are not a thing that it helps to have better results in trading, instead of having those, we better make our own and we are also learning.

[CryptopreneurBrainboss]

If your portfolio is pegged to fiat value, you're probably going to be able to afford less and less BTC as the bull market continues. You'll be gaining and preserving USD value while losing BTC.

This is exactly what is getting me discourage from trading more often but I can't help it since holding bitcoin sometime becomes a little bit boring. It takes some experience for you realized that it's better holding your bitcoin instead of doing any of the suggested alternative mentioned above, whether it's trading stablecoin or trading altcoin. Many individuals don't pay attention to their sat value since they're lost in wanting to profit in USD (which they do) but loss when the sat value held is compared to their previous holding.

I understand want you intend doing OP but you just have to be conscious, I'll still vote for the holding of your sats instead of trading them for stablecoin. The rate at which bitcoin rises something's so quick that it can make you fomo into buying that'll end you having less bitcoin.

[Salauddin1994]

If the market situation is very bad then there will be a lot of risk in stacking if we analyze the market well and follow the trading strategies then the problem is easy to solve. But in order to make a profit you have to invest in good currency and keep it in stock. Even if the market is affected badly the difference in the price of the currency will happen but it will rise again but be careful about exchange sites.

[ridhataqo]

it's gonna be a boring experience to stack sats nowadays only from spot trading since it takes time and can only benefited from price going up.
margin/futures trading is a hype lately in cryptocurrency and many traders prefer it to spot trading.
at first i avoid it as well, but now i dwell into it since i could get profit, and loss, from both up and down movement.

but if you still don't want to margin/futures trade, the best way to stack sats of course to stick with bitcoin and scan for new projects with good prospect for short term, like defi craze that we've seen lately (sell and forget, then put your profit into bitcoin).

[MCobian]

I also prefer manual trading than using bots or margin trading. But manual trading should always monitor the market,
and you must use the stop-loss feature in case the market suddenly drops. What you did was right by saving some
coins on Binance, because we need funds to trade on Binance. It is risky, but we must be brave enough to face these
risks. The role of stablecoins like USDT is very important in trading, because I also chose USDT to secure the profit
I made. And I'll convert my USDT to Bitcoin or altcoins if the price is low enough to buy.

[AakZaki]

The market is really crazy and the way price manipulation going on is really bad impact on crypto market. The way shit coin pump is crazy.. Like yfi... In this market only and only big capital holder take profit because they manipulate price up and down. Leverage trading makes more risk for traders and exchanges don't think about it. Even in last dump binance not working and many people got liquidation. This should be stop

YFI is indeed very risky. Going up and down by hundreds of percent, that's pretty crazy these days.

The bad impact on the crypto market will indeed be felt when YFI is present. Many DEFI projects similar to the Y family have sprung up, many are even scams. Defi has a very high risk compared to ordinary crypto in general.

Many people are subject to liquidation, it is very painful when we are affected too.

[Myleschetty]

There has been very big changes in Bitcoin price in 2 years. In fact, this year could be one of the best years for Bitcoin price I think. It has been over 10k dollars for a very long time. Bitcoin use is also increasing year by year. So yes, Bitcoin is in a nice shape.

Every circumstance have it own benefit but I don't think this year market will be that big as you said because the world economy and the damage causes by the pandemic will still impact the market.

[Steamtyme]

It can be extremely profitable. There is a tendency for people to wait out of greed and see how high a pump goes, but in my experience that usually doesn't end well.
Lack of order book depth usually cuts both ways. Consider doing this on both sides of the book. On the buy side, we call them "stink bids."
~snip~
 You don't want to be stuck holding fiat during a bubble!

Well this past week, if I had something set up I likely would have made at least one buy. I did however get something done manually before everything tanked off for a bit there. My first buy was at 3X so I took out my investment, and on the drop used that to DCA a different coin, almost caught it's low.

Apart from that I'm going to be funneling some FIAT in for more BTC, and play it by ear for the next month or so.

OP, you can try indexing with this index builder, https://pandaanalytics.com/index
It can help you allocate how much of each cryptocurrency to own in your portfolio, and can guide you to resize each allocation based on profitability and volatility.

Hmm looks neat. I might check it out if I keep up with trading into the future. Most of my coins are of the potential "bag holder" variety. I'll either win or lose but they may become something that builds up more of a trading market in the future.

Doing this manually is hard to be honest.

OP can develop his own bots to track markets. It is not that tough and AFAIK, he has knowledge on coding.

Nope. Tried to learn coding in my spare time but couldn't find a resource that I was a good fit for me. Still interests me and might be something I dabble with again in the future.

Leverage and Spot are two different ballgames. If OP is new to trading I would suggest them Spot obviously and to stick to Spot later on because I feel it is the more safer of the two. Leverage and Margin just adds in more mental stress, which is important to minimize if you want to start healthy in this game.

Stick to bitcoins would be my advice. Time and again we have seen it prove it resilience in the same and if bought at good lows it can give good returns.

I did look into the leverage and margin side of things and decided it just wasn't for me. This is going to be a rather passive and lazy adventure for me. There are certainly markets out there I could have given it a go in, but I'm not looking to examine charts daily or hourly. Just a guy looking to grab bags and attempt to make profits

Had a good laugh this past week. I do generally tell people if I'm buying something wait a few days it will get cheaper. Most are on the mend, and are back to nearly my entry point.  I'm also definitely not getting out of BTC, just expanding my portfolio a bit.

[TheUltraElite]

Sorry for the late reply, so I assume you would be trying to get into a long term hodl if observing charts for hours is not your thing.

There are two ways you could approach this:

1. Check the charts once to decide your buying points, make a spreadsheet to mark those. Then it is all a game of patience, buy it at the right price. I cant stress this enough, buying at the wrong point because you are becoming impatient is the bad mistake. You would have to regret it during your hodl period. If prices keep dropping, buy more at lower prices with increasing difference in price. 10kUSD+ is not a proper range to buy anything if you ask me.

So better to wait till it drops to 9k or better even lower. This would need some judgement from your part.

2. I see I was wrong about your coding skills, never mind, I know you are into mining so I have assumed that. Anyway you can take part in day trading as well if you get bots to monitor the charts. I think you might be knowing of the Gunbot developed by our very own Gunthar? Search for it if you havent already. But yes this is day trading on spot so more losing of sleep if you know what I mean.

[tvplus006]

...Stick to bitcoins would be my advice. Time and again we have seen it prove it resilience in the same and if bought at good lows it can give good returns.

Trading BTC and ETH will be the right choice for long-term trading. Yes, in recent months, you could make a big profit on altcoins. But this is only if you sold them on time and now keep your balance in stablecoins. I am sure that many people still hold altcoins and they may lose their balance, as it was in 2017, when altcoins lost up to 90% of their value.

[RealMalatesta]

Bitcoin, Ethereum and using USDT to trade them would be basically ideal in any type of situation. I personally do not like USDT and would use any other if I can but the places I use usually has them. Go to binance they have their own and that is trustworthy as well, binance is huge and I do not think they will let any of that go to waste over few million stable coin neither.

So, if you move money around in those three ones, you are going to end up with a lot of profit, do not get hyped and make too quick moves and lose, make calculated moves so that you know where you are getting in and where you are getting out. In a yearly move bitcoin gives possibility as much as 10x if you buy at the right bottom and sell at the right top but it is a big challenge.

[lixer]

Well, the problem is with timing it right, you can’t really time it right unless you will have to depend on certain events that takes place for your timing it properly. But sometimes these events might be ones that won’t even have any effect, that’s another problem. Events you can use as example, like the Halving and pandemic, these two things affected the price, especially the pandemic.

The pandemic was a big opportunity to buy Bitcoin , but so many people didn’t realize that, instead of investing their money they were busy asking some dumb questions like whether Bitcoin will ever recover from the low price and whether it’s dead.