Spot trading techniques

[Gladitorcomeback]

Honestly, you don't need to be an expert just to get a profit in the trading OP; just know the basics, and it can be the beginning of the way for you to get a profit on the spot. Now what is the basic thing you should know?

Of course, you should know what kind of trader you are. Are you a short- or long-term trader? What asset do you want to trade? What is your goal? What price value are you targeting, and when will you sell it? And above all, you must have the character of a good trader.

One might not need to be an expert, but one needs to have ample knowledge about the market before one can expect profits from it because it's not as easy as it may sound. People often think they can do it quickly. Still, they start getting confused when they enter the market because the market doesn't move based on our gut feelings, so when a newbie takes a trade, buys a cryptocurrency with their initial capital, and if that asset starts losing value, that is when they start getting nervous. They might even sell their assets at a loss out of fear of losing everything.

So short-term trading is not for everyone and long-term traders are often called investors because they buy an asset, hold it for a certain period that they have planned or maybe didn't even plan, and then sell it when they see they are getting enough profits. In investments, you don't get too nervous because you know there is a lot of time and the price can recover, but short term trades can make newbies feel this way because they believe they can lose their funds if the asset doesn't recover.

[TheUltraElite]

Futures trading is sure to be taken not lightly - if you go with your own money, it's one thing, but when you have a risk of being pushed out of the deal, you take every indicator you have into account.

Futures trading is gambling, Period.

When it comes to spot trading the difference is right in front of you, it is not same as gambling. In spot trading even after a bad trade, you have an asset at hand, to be able to sell, but will be painfully slow to recover and break even.

A lot of patience and a source of money beyond just trading will help maintain spot trading in top notch position.

[Popkon6]

I have just been buying and hodling and now I am interested in learning a simple spot trading strategy to master. Looking for some expert advice..

I usually don't like spot trading, because trading is the most likely to result in losses. But you can be successful by holding but it has to be long term and trusted coins. Note that if you buy tokens for spot training and the price slowly declines, you are at a loss.
 And you sell some of the little you have and then the market starts going up again you lose confidence and again you can't find money to trade. But if you are involved in long term holding then you can actually sell it at good time, because by buying low you can hold for long and sell at higher price later.

[pusaka]

Futures trading is sure to be taken not lightly - if you go with your own money, it's one thing, but when you have a risk of being pushed out of the deal, you take every indicator you have into account.

Futures trading is gambling, Period.

When it comes to spot trading the difference is right in front of you, it is not same as gambling. In spot trading even after a bad trade, you have an asset at hand, to be able to sell, but will be painfully slow to recover and break even.

A lot of patience and a source of money beyond just trading will help maintain spot trading in top notch position.

There is still a lot of debate between people who say futures trading is gambling and people who say futures trading is not gambling. But for me this is just a matter of perspective and it is the right of every individual to say it is gambling or not. Spot trading is indeed considered the lowest risk and quite safe, especially recommended for beginners. because in spot trading we only need patience to make a profit. But that doesn't mean it is free from panic or greed, because many people sell their assets when they experience losses because they are too afraid. There are also people who miss the moment because they are too greedy so they have to give up maximum profit because the price eventually goes down again.

[$weetne$$]

Correct. In my opinion, you can't say that you are a trader if you just do DCA (Dollar Cost Averaging) because this way is more likely to only buy, most of the time you buy and a lot of sell orders,
Like buying cheap bitcoins over time, accumulating more Bitcoin at lower prices along the way, the average buy price of your Bitcoin will be calculated and later on, it's up to you to sell it, where you can sell it once or sell it depends on you like taking some profits along the way.

Dollar cost average is a way that investors use to buy Bitcoin and not a way for trading. The confusion between being an investor and a trader is too much because people do not know the difference between the two since both are buying and selling Bitcoin. A spot trading technique that I use at time is breakout trading where I watch the market for a breakout and take advantage of it before it gets too late. I watch any coin that I want to trade, it could be Bitcoin or other cryptocurrency. I watch them for a breakout from the resistance level that was holding the coin before and when that happens I enter the trade. I do not hold my position for long though as a I keep watch for other resistance and try to sell before the coin starts to fall back to a support level.

[tottong]

The Relative Strength Index is a part of technical analysis that is very commonly used by traders today and in the past, but for traders who often trade in the spot area, this RSI is not often considered even though they also take advantage of certain moments to achieve profit. But if traders who often trade in the futures area on Binance, of course this must be considered often because they often expect profits in the short term in a matter of days before they buy back and trade again in the same area.

That is clearly different because spot and future trading basically have differences even though the results still talk about profit.
RSI is only used as an analysis material before entering the market in future trading because if the RSI percentage approaches a larger number, it is likely that the market will reverse direction to go down or vice versa.
Usually when someone wants to enter a trade, the RSI will be adjusted to the coin price conditions because don't let the coin price have risen to the highest area when entering.

You always have to calculate all the possibilities that will happen in order to better understand the impact of the risks that will occur.
It is not easy to trade futures because there are indeed many risks that need to be considered to enter the market before trading.

Correction according to what I know about RSI. If the RSI is high, the chance of an increase is high. Conversely, if the RSI is low, the chance of a decrease is high. Not as you said. The reference can be seen and observed on the Bitcoin price chart.

On the contrary and what you said may be based on observations about the increase but for future traders they will see the entry position at a lower RSI percentage for the Buy/Long trading process because with a lower position the price increase will trigger higher.
When you decide to enter at a high RSI, the opportunity for the market to reverse direction becomes more likely because the RSI percentage condition is already high.

[michellee]

I have just been buying and hodling and now I am interested in learning a simple spot trading strategy to master. Looking for some expert advice..

I usually don't like spot trading, because trading is the most likely to result in losses. But you can be successful by holding but it has to be long term and trusted coins. Note that if you buy tokens for spot training and the price slowly declines, you are at a loss.
 And you sell some of the little you have and then the market starts going up again you lose confidence and again you can't find money to trade. But if you are involved in long term holding then you can actually sell it at good time, because by buying low you can hold for long and sell at higher price later.

To start spot trading, you need to have skills to analyze which will not easy to find the coins. But if you stick to Bitcoin pair USDT, I guess you will have a chance to make a profit. But you need to remember that Bitcoin price can moves to anywhere without you notice. But if you trade for altcoin/tokens/memecoins paird USDT, I guess that will not easy because you need to analyze one by one to find the right coin.

That is why you needs skills to trade because that is your chance to get the right coin and make a profit. But if you don't want to learn, holding will be your best way to make a profit but you need to make sure that you hold the right coin which is Bitcoin. Bitcoin will be suit for you to hold for a long term than altcoin, memecoins, or even tokens.

[fikrett]

Correct. In my opinion, you can't say that you are a trader if you just do DCA (Dollar Cost Averaging) because this way is more likely to only buy, most of the time you buy and a lot of sell orders,
Like buying cheap bitcoins over time, accumulating more Bitcoin at lower prices along the way, the average buy price of your Bitcoin will be calculated and later on, it's up to you to sell it, where you can sell it once or sell it depends on you like taking some profits along the way.

Dollar cost average is a way that investors use to buy Bitcoin and not a way for trading. The confusion between being an investor and a trader is too much because people do not know the difference between the two since both are buying and selling Bitcoin. A spot trading technique that I use at time is breakout trading where I watch the market for a breakout and take advantage of it before it gets too late. I watch any coin that I want to trade, it could be Bitcoin or other cryptocurrency. I watch them for a breakout from the resistance level that was holding the coin before and when that happens I enter the trade. I do not hold my position for long though as a I keep watch for other resistance and try to sell before the coin starts to fall back to a support level.

Interesting idea - for how long do you hold your positions, usually?

[john_egbert]

I have just been buying and hodling and now I am interested in learning a simple spot trading strategy to master. Looking for some expert advice..

I usually don't like spot trading, because trading is the most likely to result in losses. But you can be successful by holding but it has to be long term and trusted coins. Note that if you buy tokens for spot training and the price slowly declines, you are at a loss.
 And you sell some of the little you have and then the market starts going up again you lose confidence and again you can't find money to trade. But if you are involved in long term holding then you can actually sell it at good time, because by buying low you can hold for long and sell at higher price later.

To start spot trading, you need to have skills to analyze which will not easy to find the coins. But if you stick to Bitcoin pair USDT, I guess you will have a chance to make a profit. But you need to remember that Bitcoin price can moves to anywhere without you notice. But if you trade for altcoin/tokens/memecoins paird USDT, I guess that will not easy because you need to analyze one by one to find the right coin.

That is why you needs skills to trade because that is your chance to get the right coin and make a profit. But if you don't want to learn, holding will be your best way to make a profit but you need to make sure that you hold the right coin which is Bitcoin. Bitcoin will be suit for you to hold for a long term than altcoin, memecoins, or even tokens.

With BTC - you need to wait much longer to gain something out of it.
But with other coins - deals hold much more risk in them.
BTC suits all your needs if you like playing it slow.

[Gladitorcomeback]

There is still a lot of debate between people who say futures trading is gambling and people who say futures trading is not gambling. But for me this is just a matter of perspective and it is the right of every individual to say it is gambling or not. Spot trading is indeed considered the lowest risk and quite safe, especially recommended for beginners. because in spot trading we only need patience to make a profit. But that doesn't mean it is free from panic or greed, because many people sell their assets when they experience losses because they are too afraid. There are also people who miss the moment because they are too greedy so they have to give up maximum profit because the price eventually goes down again.

Futures trading is undoubtedly risky, but calling it gambling would be utterly wrong because you can't get anything out of futures trading if you don't know anything about it or the market in general. In gambling, your profits or losses depend on your luck and knowledge or understanding, which has nothing to do with it. In contrast, in futures trading, your profits or losses depend on how much knowledge you have about the trading practices and the market.

Futures trading isn't recommended for newbie traders because they are usually new to the market and don't understand technical stuff such as analysis, reading charts, using indicators to find out what is about to happen next, etc. One should only venture into futures trading when they have understood each and everything about the trading itself and the market so that they don't waste their money.

A newbie won't even be able to make a few trades before they would get liquidated by the market because futures trading involves a lot of technical stuff.

[Awaklara]

There is still a lot of debate between people who say futures trading is gambling and people who say futures trading is not gambling. But for me this is just a matter of perspective and it is the right of every individual to say it is gambling or not. Spot trading is indeed considered the lowest risk and quite safe, especially recommended for beginners. because in spot trading we only need patience to make a profit. But that doesn't mean it is free from panic or greed, because many people sell their assets when they experience losses because they are too afraid. There are also people who miss the moment because they are too greedy so they have to give up maximum profit because the price eventually goes down again.

Futures trading is undoubtedly risky, but calling it gambling would be utterly wrong because you can't get anything out of futures trading if you don't know anything about it or the market in general. In gambling, your profits or losses depend on your luck and knowledge or understanding, which has nothing to do with it. In contrast, in futures trading, your profits or losses depend on how much knowledge you have about the trading practices and the market.

Futures trading isn't recommended for newbie traders because they are usually new to the market and don't understand technical stuff such as analysis, reading charts, using indicators to find out what is about to happen next, etc. One should only venture into futures trading when they have understood each and everything about the trading itself and the market so that they don't waste their money.

A newbie won't even be able to make a few trades before they would get liquidated by the market because futures trading involves a lot of technical stuff.

for that reason, some people might say that futures trading is more like gambling. A newbie trader without knowledge tries to trade futures, what does the trader rely on? he will use his feelings to guess and make trading positions. what is expected from the trader? the expectation of profit from his luck as a novice trader.

newbie traders will be more advised to trade spot. it is better even though they only master some basic analysis techniques, spot trading also provides lessons on how calmness in trading is very important. even in determining the decision to buy or sell.

[michellee]

With BTC - you need to wait much longer to gain something out of it.
But with other coins - deals hold much more risk in them.
BTC suits all your needs if you like playing it slow.

No problem with that because if you have that situation, you can moves to altcoin, memecoins, or tokens so you can still make a profit. But you must understand about the risk that can be high especially in the bear market. You can use Bitcoin for your long term investment while you use altcoin for trading and get an additional income for you. But that will not easy because you need to consider to have a better skill so you can analyzes the market before you trade. But when Bitcoin moves fast, that will be your time to take your profit by buying low and sell high and sometimes, you don't have to wait for longer to action.

[SamReomo]

There is actually nothing more in spot trading than what you have explained, the easiest thing is buying low and selling high.

Yes, in spot trading buying at low price is the actual and proven way to make profit, I know that some people do follow the trend in spot trading but that's not the way to go, as proven by losses of many traders.

Buying low when you see huge dips and holding that position for time and then selling with profit is actually the best strategy I've been following and it has made me huge profits and is still making me profits on daily basis.

[EarnOnVictor]

I have just been buying and hodling and now I am interested in learning a simple spot trading strategy to master. Looking for some expert advice..

I see no big deal about the spots trading and I even advise you to just buy and keep your asset in a non-custodial wallet if the coin/token is readily available and pairable. The reason why people should buy through spots is for the unavailability of the crypto asset, in this case, you mostly see them with exchanges which is not convenient when your money is big enough. Regardless, I have two pieces of advice for you on this request;

1. Be conversant with the news related to your coin/token and the important ones like Bitcoin in the crypto world.

2. Be a friend of your chart. Once you can read your chart well, it will guide you properly. Learn it if you don't know it yet.

[john_egbert]

There is actually nothing more in spot trading than what you have explained, the easiest thing is buying low and selling high.

Yes, in spot trading buying at low price is the actual and proven way to make profit, I know that some people do follow the trend in spot trading but that's not the way to go, as proven by losses of many traders.

Buying low when you see huge dips and holding that position for time and then selling with profit is actually the best strategy I've been following and it has made me huge profits and is still making me profits on daily basis.

What do you usually hold in such a way that you mentioned?

[FortuneFollower]

I have just been buying and hodling and now I am interested in learning a simple spot trading strategy to master. Looking for some expert advice..

I see no big deal about the spots trading and I even advise you to just buy and keep your asset in a non-custodial wallet if the coin/token is readily available and pairable. The reason why people should buy through spots is for the unavailability of the crypto asset, in this case, you mostly see them with exchanges which is not convenient when your money is big enough. Regardless, I have two pieces of advice for you on this request;

1. Be conversant with the news related to your coin/token and the important ones like Bitcoin in the crypto world.

2. Be a friend of your chart. Once you can read your chart well, it will guide you properly. Learn it if you don't know it yet.

Read the chart and the news, stay afloat, and adapt to them - success will be around the corner afterward.
The spot is great for those who are willing to try things out without much nerve put into it.

[betswift]

With BTC - you need to wait much longer to gain something out of it.
But with other coins - deals hold much more risk in them.
BTC suits all your needs if you like playing it slow.

No problem with that because if you have that situation, you can moves to altcoin, memecoins, or tokens so you can still make a profit. But you must understand about the risk that can be high especially in the bear market. You can use Bitcoin for your long term investment while you use altcoin for trading and get an additional income for you. But that will not easy because you need to consider to have a better skill so you can analyzes the market before you trade. But when Bitcoin moves fast, that will be your time to take your profit by buying low and sell high and sometimes, you don't have to wait for longer to action.

Bitcoin moves fast only during the needed cycle, whereas alts can't catch a break sometimes - that's their beauty and their curse.
Everybody chooses what suits them best.

[justdimin]

A newbie trader without knowledge tries to trade futures, what does the trader rely on? he will use his feelings to guess and make trading positions. what is expected from the trader? the expectation of profit from his luck as a novice trader.

newbie traders will be more advised to trade spot. it is better even though they only master some basic analysis techniques, spot trading also provides lessons on how calmness in trading is very important. even in determining the decision to buy or sell.

This is so true, a lot of people end up with basically nothing because they don't know what they are doing, and because of that they are not really dealing with anything good at all when they are dealing with futures. Even if they are not a newbie (but certainly when they are a newbie) we are seeing how they are getting bad results too, because futures isn't easy and there is also leverage to discuss, which means they could be liquidated very quickly if they are not careful at all. I bet that when you are a veteran and make a wrong move, you still lose your money very quickly anyways.

The best way to start leverage would be just focusing on how to get a greater return on the long run, would make a lot of sense so we shouldn't be considering how to get better results. I believe futures is a risky situation and we can't make any money at all from this, can't be bothered with anything so at the end, just do spot or even better keep holding it.

[GreatArkansas]

Correct. In my opinion, you can't say that you are a trader if you just do DCA (Dollar Cost Averaging) because this way is more likely to only buy, most of the time you buy and a lot of sell orders,
Like buying cheap bitcoins over time, accumulating more Bitcoin at lower prices along the way, the average buy price of your Bitcoin will be calculated and later on, it's up to you to sell it, where you can sell it once or sell it depends on you like taking some profits along the way.

Dollar cost average is a way that investors use to buy Bitcoin and not a way for trading. The confusion between being an investor and a trader is too much because people do not know the difference between the two since both are buying and selling Bitcoin. A spot trading technique that I use at time is breakout trading where I watch the market for a breakout and take advantage of it before it gets too late. I watch any coin that I want to trade, it could be Bitcoin or other cryptocurrency. I watch them for a breakout from the resistance level that was holding the coin before and when that happens I enter the trade. I do not hold my position for long though as a I keep watch for other resistance and try to sell before the coin starts to fall back to a support level.

Interesting idea - for how long do you hold your positions, usually?

For me, it usually less than 1 week - it depends on how the price goes like let's say my stop losses or target price is not being triggered for days. Sometimes I tend to close it even in small losses or small profits, just to close it and wait for another opportunity.

So most of the time, I just rely on my stop loss price and target price every time, but I still need to monitor it just in case some changes cause of volatile, some candle wicks, etc.

[tygeade]

a lot of people end up with basically nothing because they don't know what they are doing, and because of that they are not really dealing with anything good at all when they are dealing with futures. Even if they are not a newbie (but certainly when they are a newbie) we are seeing how they are getting bad results too, because futures isn't easy and there is also leverage to discuss, which means they could be liquidated very quickly if they are not careful at all. I bet that when you are a veteran and make a wrong move, you still lose your money very quickly anyways.

The best way to start leverage would be just focusing on how to get a greater return on the long run, would make a lot of sense so we shouldn't be considering how to get better results. I believe futures is a risky situation and we can't make any money at all from this, can't be bothered with anything so at the end, just do spot or even better keep holding it.

Yes, long term would be a lot better and focusing on making money gradually is the way to go because if you end up losing money quickly, then you will try to make it back quickly too and that will end up being terrible for you. If you try to make money gradually and slowly, then you are going to not lose too much that quickly, it will be slow to lose as well and recovery will be quicker without much loss.

This is why people focus on accumulating more bitcoin and not really trading wild tokens neither. Look at all dexscreener hyped memecoins, they are not really the things you should be looking at and because of those type of places we end up losing a lot of money. I can't justify making money on those kind of ways, they all feel like they are a wrong way of making money.