Golden Rules for trading Cryptocurrency

[rosiepeks]

Rules to trading cryptocurrencies

Do not chase trades cause its going to leave you burnt, the lose will be tremendous

Dont buy/invest in coins you dont understand, you should be able to do a fundamental and technical analysis on coins, for e.g if a coin you do not believe in goes down you’re scare it won’t come back up, but if you believe in it, even when its 50% down you would still believe it will come back up

Trading to get rice rather than trading to build wealth, too many people are trying to pull in 50% gains by buying coins that are not even heard of, stop that you will never get rich, you have to set specific boundaries for your self


if you have questions, im open to hear them guys

 

[PinguSpy]

invest in the ..

- team
- roadmap
- technology and what are the problem that they are trying to solve
- low supply coin


i like to treat this crypto coin as a "stocks".

so you only invest into stock that has good company team, tech, roadmap etc.

because in stock, we got company that turn dead after few years, or company that become multi billion company such as google, apple, amazon after few years

 

[LJ Junior]

What do you think will make more money, trading or long-term hold?
I'm holding few coins that I believe in but I make more money on trades. 10-15% profit on each trade, btw my trade is not intra day, it usually a week or 10 days. So, this bundles of 10-15% profits are making me more money and of-course long term holds are still on the hold mode. I will wait & see.

 

[Centimetro]

What do you think will make more money, trading or long-term hold?
I'm holding few coins that I believe in but I make more money on trades. 10-15% profit on each trade, btw my trade is not intra day, it usually a week or 10 days. So, this bundles of 10-15% profits are making me more money and of-course long term holds are still on the hold mode. I will wait & see.

Trading if you are good, for sure. It's elementary math, undeniable that trade is more profitable, especially when you are reinvesting your wins

But trading is much, much, much harder than investing and holding, so the "average" person will probably make more money long-term holding.

 

[Roguetrader1]

Both trading and holding long term for massive profit can be rewarding. if you know some fundamentals of trading, then im sure you will do well, but don't be greedy and know when to exit. However, it can be very time and energy consuming. You will find yourself waking up at crack of dawn or in the middle of the night just to check on the market. because if you don't check it, you could miss on a big profit or worse still, lose a lot. hence, to put a stop loss. On the otherhand, if you have patience and not be bothered checking the market on a daily basis, then hold your coins til they mature enough and you feel you made enough money to pay for a holiday, car, a real estate investment, education (dont buy a car actually, its the worse vanity you can ever buy lol). Having experience on both side of the spectrum helps with decision making. Take the challenges on both sides and experience it enough to make your own judgements. Only then, and until then, will you decide which is more profitable for you and gives you more financial freedom. Having financial freedom gives you the freedom to do whatever you want without the constraint of financial authorities. if you have debt, get out of it. There's no such thing as a '"Good Debt". So go on and create wealth and never be under the thumb of poverty and financial institution. Good luck and good fortune.

 

[Botwiz]

9 x 10 times your loser cause you think your a loser.

 

[jasonH]

Heres some tips for you;

1. Only trade with exchanges that deal in fiat USD.... avoid all others that cash you out in USDT or crypto
2. keep a portion of your profits for tax (youll have to pay even if you lose it all)
3. Buy real trading tools, not bots.... pattern trading tools are best
4. if you dont know what a trade plan is... then learn trading before you gamble your money away.
5. Dont use margin or leverage, you will suffer for it eventually.
6. Read @bitfinexed thread on twitter before you start.

and no, I dont trade crypto, cant understand why anyone would... liquidity is garbage and most exchanges use so much manipulation.

 

[mm34505]

one rule

buy XRP and hold for 2-3 years

 

[jasonH]

one rule

buy XRP and hold for 2-3 years

LOL

 

[BoostChef]

one rule

buy XRP and hold for 2-3 years

HAHAHAHA! I'm Dead.

 

[mm34505]

LOL

HAHAHAHA! I'm Dead.

oh no dont tell me you 2 are bitcoin fan boys

 

[jasonH]

oh no dont tell me you 2 are bitcoin fan boys

Not at all, I exited the crypto space in November last year after I discovered the Tether scam. Trading crypto markets is too risky and the manipulation from big players like Bitfinex, whales, and mt gox trustee can cut you off at the knees at any time.... plus, withdrawing in USD is next to impossible on most platforms where volume is of any significance.... sure, im not saying there are thousands of people that may have made money... buts its not for me.

 

[mm34505]

Not at all, I exited the crypto space in November last year after I discovered the Tether scam. Trading crypto markets is too risky and the manipulation from big players like Bitfinex, whales, and mt gox trustee can cut you off at the knees at any time.... plus, withdrawing in USD is next to impossible on most platforms where volume is of any significance.... sure, im not saying there are thousands of people that may have made money... buts its not for me.

Withdrawing USD is very easy actually, If you need help or guides and have a legit verified account on a few exchanges like CB and Kraken you can withdraw direct to bank account

 

[Marcel Freiberg]

Thought of a Golden rule as well:
Buy cheap, sell high = BINGO

Sorry, but for me it doesn’t really matters if you trade or hold, it is gambling and as usual there will be winners and losers.

 

[John Thor]

Now it's a good time to buy NEO. Within few months you will double up your money.