Crytocurrency trading

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copcvcj

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HELP " SO I DECIDED TO GET INTO CRYPTOCURRENCY TRADINGS BUT I AM NEW TO IT . CAN SOME POINT ME TO THE RIGHT PLACE DIR ME TO LEARN HOW TO READ/UNDERSTAND THE CHARTS AND BE ABLE TO DIFFERENTIATE BARS(RED,GREEN ) .CAN SOMEONE POINT ME WHERE WHICH PLATFORM IS BEST FOR TRADING / LEARNING. ANY HELP WOULD BE GREAT GUYS .

PLEASE I AM STILL NEW IN TRADINGS . THANKS
 
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From personal experience you're pretty much guaranteed to lose money if trying to invest in crypto currency now. They're mostly pumped and dumped, wouldn't try it.
 
As long as cryptocurrency is concerned, even the experienced traders lose money doing this. You being a complete newbie, chances are you'll lose all your money on cryptocurrency trading. I'll advice you look for other means of making money, at least for now.
 
I think blockhain technology will thrive one day whats your reasons for not believing in the crypto industry?
 
There are already some us who are already regretting for getting in too late.
 
Literally am not getting the answers i want lol
 
Before answering your post, some advice:
If you are day trading, I suggest you try with, at most, a little bit of money. After you make enough trades you'll end up finding out that day trading is just gambling. If you are impatient, then crypto trading is not for you. You have to trade on a much longer time frame to make a decent buck. As much as people like to forget, the stock market returns on average 4-10% annually over a decade. Meanwhile, in the crypto market it fluctuates so much daily that one day you might be up 30%, lose 30% the next and then be back up 10%.

My main advice to you is to buy bitcoin now and check back on it in a year and then decide what you want to do. Crypto can be a daily emotional roller coaster that will make you greedy and reckless when times are good, and when they are bad, you might get depressed.

Now to answer your post: Technical analysis doesn't really work with crypto since it's not an established medium just yet and can be heavily influenced by news more than trading signals. To learn trading analysis anyways you can go to babypips.com/learn/forex
 
Last edited:
omnirand said:
Before answering your post, some advice:
If you are day trading, I suggest you try with, at most, a little bit of money. After you make enough trades you'll end up finding out that day trading is just gambling. If you are impatient, then crypto trading is not for you. You have to trade on a much longer time frame to make a decent buck. As much as people like to forget, the stock market returns on average 4-10% annually over a decade. Meanwhile, in the crypto market it fluctuates so much daily that one day you might be up 30%, lose 30% the next and then be back up 10%.

My main advice to you is to buy bitcoin now and check back on it in a year and then decide what you want to do. Crypto can be a daily emotional roller coaster that will make you greedy and reckless when times are good, and when they are bad, you might get depressed.

Now to answer your post: Technical analysis doesn't really work with crypto since it's not an established medium just yet and can be heavily influenced by news more than trading signals. To learn trading analysis anyways you can go to babypips.com/learn/forex
Click to expand...

I agree crypto is definately a long term game, we are still in the early stages with crypto and i don't think its anywhere near being a household name that people recognise just yet but its definately growing a lot more people have heard of bitcoin but have never used it and probably because they have no use for it at the moment, but when our core payment solutions that we use everyday start to use Blockchain technology i think we will then start to see a change in the market and will start to stabilise
 
Im a holder of XRP because i researched the technology and i beleive in it. XRP had real world use cases and solutions for worldwide problems
 
I'd say it depends on how much money you have. But you can turn something upwards of $1k into $10k+ if you gamble on the right one. Forget about day trading. It's too volatile, you're likely to get burned. There are a lot of trading bots out there.

My advice would be to find an altcoin that's ranked between 50-150 on Coinmarketcap (read about it, what it does, why other people might see value in it) and just buy it and hold it in the hopes that it will go up some day.
 
Interested in short term then buy TRX for now.. Everyone saying it will pump till 31st May.. But buy at your OWN RISK.
 
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