Consistency is what you need in trading alts

[Ayers]

What’s your take on this subject? And if you have any tips, I’d appreciate you sharing them

If you are a trader consistency and discipline are absolutely crucial for you. Many people consider trading to be like gambling and think it is a game of luck and because of this mindset they lose all their money. However it is not mere luck rather surviving in the market is possible oIf you are a trader, consistency and discipline are absolutely crucial for you. Many people consider trading to be like gambling and think it's a game of luck, and because of this mindset, they lose all their money. However, it is not mere luck, rather, it is by following certain specific plans every day that one can survive in the market. In most cases, I use support and resistance as fundamental tools in my trading, as they are the best for risk management. Instead of randomly buying and selling coins, these practical strategies should be used in investing

[allthebitandbobs]

A few months ago, someone also made impressive numbers just by trading support and resistance on X. Again, the key factor was consistency.

What’s your take on this subject? And if you have any tips, I’d appreciate you sharing them

Trading based on support and resistance price level is being called as "pivot point strategy" but there would be no compulsion about all the market must be obeying this support and resistance level all the times. It means some times, support level-1 would be working and in other time, support level-2 would be reacting as a strong reverse point. If you take entry on support level-1 then support level-2 would be your stoploss and you may hit it more often. In summary, support and resistance based trading alone will not be enough and may get you stuck at any given day.

By consistency, if you mean about sticking within our pre-determined trading plans, I agree 100%.

Sticking within plans must be one of the thumb rule of successful trading. When you are not within basics of trading, you will neve achieve consistency in crypto trading. Following basics more strictly along with effective trading strategy may help you in long run.

[Rubuchi]

Indicators are used to know the support and resistance but they can failed. In fact, they are not very accurate. What I think may be accurate is price action but which can fail at anytime also.

Trading alts is very risky, it should be seen as gambling. Using just little amount of money for. It can easily take all the money someone has just like gambling and someone can be lucky but the chance to lose is high.

if you want to survive long term in altcoin just like it is said in bitcoin too then you will need to stay very active and consistent with your trades. Unlike the bitcoin, altcoins are said to be more risky and will require you to be more vigilant, to put more time and monitoring to it because it is more volatile than bitcoin and can some can rise and fall in value instantly. If you are trading altcoins , you should only be using money that you can afford to lose completely, like bitcoin but for altcoins you should consider it more because trading altcoins is as dangerous as gambling unless if you are trading stronger altcoins like Etherium and Solana ecetctra.

[AlphaBheta]

You may be interested and copy his trading style, but whether you like it or not the results will never be the same. So sometimes you need to think outside the box and focus on trading that you know, techniques that are understood not just copying others that you basically force just because he is successful in altcoin trading. Consistency is important but as a trader you also need to have a personal stance and trading style according to the portion of assets owned.

That's right, the results may never be the same but there are core fundamentals concepts of trading and consistency is one of them. Myself for example I've been consistent with Bitget crazy 48h trade events for a while now, just completed phase 11 and phase12 has started and I've been grinding, each phases gets better due to consistency and understanding.. you could also check it out cos constant opportunity to prove yourself would enable you be consistent

[Ahli38]

What’s your take on this subject? And if you have any tips, I’d appreciate you sharing them

Consistency in trading altcoins can involve many things. And all of that requires experience or even a long journey. Many beginners who trade altcoins often get caught up in unclear signals. Without having to follow signals or even quick methods that may not necessarily promise profits. When in fact they only need patience and consistency in learning many things. The most important thing to do is to conduct in-depth research on the fundamentals of the altcoins they are going to trade. Next alt traders also need to develop their strategies. I personally prefer the narrative trading strategy, where it also needs to be followed as smart money often participates in certain narratives in altcoins. However diversification is also necessary to avoid large losses if we experience losses in one altcoin. And consistency must be combined with a good strategy or even risk management. It must also be combined with good discipline without having to risk excessive leverage. Experience will be valuable in the end.

[Juse14]

Indicators are used to know the support and resistance but they can failed. In fact, they are not very accurate. What I think may be accurate is price action but which can fail at anytime also.

Trading alts is very risky, it should be seen as gambling. Using just little amount of money for. It can easily take all the money someone has just like gambling and someone can be lucky but the chance to lose is high.

The indicator only helps us to see the market and the conclusions are taken for speculation into the future, the accuracy is not always good but I think it will be much worse if applied to altcoins.
Altcoin trading will be profitable if you are good at it, but most people are not able to do that and will only waste their time here without getting anything, leaving with money and going home empty-handed, that's what often happens to altcoin traders until where to get lucky that can change life circumstances it will be a different story but ii is not 2020-2023.

The chances of losing will be very high if you don't have the ability, that's enough to represent it.

[Pandorak]

First of all, it must be understood that experienced traders very rarely open positions. Often, most of them only entry when they are confident about the direction of the market. Beforehand, they have analysed accurately and are just waiting for the moment to come. So, when the price moves according to their desired setup, only then will they open a position. Sometimes, overtrading will cause losses. Momentum is not created but waited for, those who are patient will definitely have a higher success rate.

[gunhell16]

Indicators are used to know the support and resistance but they can failed. In fact, they are not very accurate. What I think may be accurate is price action but which can fail at anytime also.

Trading alts is very risky, it should be seen as gambling. Using just little amount of money for. It can easily take all the money someone has just like gambling and someone can be lucky but the chance to lose is high.

Even with Bitcoin, when we engage in trading activities there is still risk involved. What really matters is that we know how to handle risk management in this crypto industry. That’s why we see so many support and resistance levels.

Right now, it’s hard to determine where price action will happen, and it’s also difficult to know whether the outcome of the technical analysis we do for this will actually be accurate.

[xLays]

I’ve seen a lot of people with great skills but a lack of consistency in their trading or honestly, in anything they do. It may not always be rosy, but showing up daily and improving by even less than 1% can truly work magic over time.

I’ve spoken to many traders recently, including one guy who’s currently top 3 on the Crazy 48h Phase 11 leaderboard. I asked him to share his strategy, and he mentioned that he trades much smarter now. He sticks to just one strategy: support and resistance. No fancy setups, just the basics. Sometimes he uses GetAgent for a daily timeframe rundown, but above all, he’s consistent. He shows up every day and tries to improve.

A few months ago, someone also made impressive numbers just by trading support and resistance on X. Again, the key factor was consistency.

What’s your take on this subject? And if you have any tips, I’d appreciate you sharing them

I think this is the main problem for many of us: lack of consistency, not only in trading but in other areas as well. I include myself in this.
I have a monetized social media page and consistency is huge factor in earning more from content monetization. Even if your content isn’t always high quality, consistently uploading can still generate income over time.
It’s the same in trading. Even if you’re only making around 1% profit, consistency allows that to compound and grow daily. Skills matter, but without consistency results will always be limited.

[Charles-Tim]

Even with Bitcoin, when we engage in trading activities there is still risk involved. What really matters is that we know how to handle risk management in this crypto industry. That’s why we see so many support and resistance levels.

Yes, I totally agree with you, it is still very risky to trade bitcoin but especially if the trader is using high leverage to trade bitcoin. James Wynn that we see how he is trading is a good example when he used 40x for opening bitcoin positions and getting liquidated and lost hundreds of millions of dollars.

If trading bitcoin with just 1x leverage or low leverage, it is less risky.

[bounceback]

Altcoins trading can not survive with consistency, because their market is highly volatile and frequently manipulated, this make trading them to be like gambling, although you can have some indicators that could help you to select the best in the market, but you must be ready to act fast and right all the time, don't follow the hype, new lunch altcoins have higher potential of pumping than the large volume multiple exchange and per coins.

Indeed, sometimes some newly launched altcoins often experience significant price increases, but we need to know that the increase that occurs in newly launched altcoins will only last for a short time, so it will be very risky if we buy at the peak price because the price can immediately return to the starting point at launch after some early investors dump the coins to realize their profits, don't be tempted by big profits through new projects, especially if we don't have good skills in altcoin trading because even the slightest mistake we make will cause us to suffer losses.

[JeffBrad12]

Support and resistance is overrated. There are many times where support become useless and resistance is being used to trick people into driving the buy demand and yet the price dumped afterward.
Those top traders definitely aren't sharing their strategy for free and give the lamest advice ever, probably made it up.

I've used support and resistance a lot of time so I know that sometime market just ignores it right off the bat and can be a trap set by market controllers.
Don't believe anything easily like that is my advice, trading involve technical analysis, capability to read the room such as impending unlocks that could potentially make the price go down and stroke of luck.