Kelvinyung
Regular Member
- Feb 24, 2018
- 375
- 143
I want to learn how to trade and spot the right coin to invest in. If you have any guide or where i can get started , please I'd like you to help me out
How does one learn cryptocurrency trading?
- Thread starter Kelvinyung
- Start date
Daisychen509
Banned - selling outside of the marketplace.
- Apr 13, 2020
- 134
- 33
My experince, just invest a little bit and learn step by step
alurosu
Elite Member
- Jun 16, 2020
- 2,187
- 1,662
The market is still young and unregulated. Any random event can ruin your TA. It's possible, but not recommend it.
Safer bet is to invest your extra money regularly and hold it long term (few years). Pick solid coins that are proven and don't disappear until then.
Safer bet is to invest your extra money regularly and hold it long term (few years). Pick solid coins that are proven and don't disappear until then.
cryptobanner
Junior Member
- Mar 10, 2018
- 127
- 39
Pay attention to the fees, they are too high to trade
Kelvinyung
Regular Member
- Feb 24, 2018
- 375
- 143
Thanks . What are your metrics for picking solid coins
alurosu
Elite Member
- Jun 16, 2020
- 2,187
- 1,662
Number of wallets, number of transactions and most importantly number of developers + projects that are built on it
sdc_
Junior Member
- Jan 21, 2020
- 158
- 86
Some additional factors to consider include sentiment analysis, growth/activity in social network pages (e.g. a coins subreddit), actual real-world use cases and partnerships with other companies.
Kelvinyung
Regular Member
- Feb 24, 2018
- 375
- 143
How do you research for a coin to buy ? how do you get prelaunch info on coins?
I am actively trading crypto and I can give you my 2c. Since the crypto markets are opened 24/7 it's really time consuming to watch the charts and not miss important TA setups. I have 2 different systems based on technical analysis but they run on auto-pilot (trading bots). I just monitor the systems once a week and adjust the settings where needed. If you want to get the most out of crypto trading, look for automated solutions...by this I don't mean to "buy trading signals". The only way to make $$$ trading is to find your own strategy and find a way to automate your trades.
I personally use a really awesome platform for building trading algorithms and live-trading. Feel free to check it out it's free to use up to 5K trading volume: Trality.com
There are other platforms as well but be careful some of those offering "profitable bots" are not transparent and you will most likely lose all your money. I lost few thousands learning that
Atm I have 2 bots running on Trality and my main strategy is buy and hodl at different times (signals are generated based on a combination between Moving averages, RSI and volume). I also have stop losses in place to avoid losing a lot of money suddenly because crypto is really really volatile. Always buying at different points, especially dips. So far I'm at a bit over $10,000 profit. Started trading in January.
Good luck!
I personally use a really awesome platform for building trading algorithms and live-trading. Feel free to check it out it's free to use up to 5K trading volume: Trality.com
There are other platforms as well but be careful some of those offering "profitable bots" are not transparent and you will most likely lose all your money. I lost few thousands learning that
Atm I have 2 bots running on Trality and my main strategy is buy and hodl at different times (signals are generated based on a combination between Moving averages, RSI and volume). I also have stop losses in place to avoid losing a lot of money suddenly because crypto is really really volatile. Always buying at different points, especially dips. So far I'm at a bit over $10,000 profit. Started trading in January.
Good luck!
- Mar 21, 2013
- 24,760
- 31,550
Follow these easy steps:
1) Don't
1) Don't
Buy and Hodl is true but the coin needs to be right. Any shitcoin would get your portfolio to 0$ even in bull market
Aziel
Newbie
- Apr 6, 2021
- 3
- 6
First of all I would recommend understanding how cryptocurrency works, what X and Y are, etc.
Learn what market cap is, what diluted market cap is, how you can use them to see if a project is overvalued, undervalued, etc.
Simply knowing how Bitcoin works and what it is supposed to do is not enough, go deep into different protocols such as automated market makers, liquidity providing, yield farming, leveraged yield farming, programmable liquidity, aggregators, forks, NFTs, etc.
Learn how every protocol works and what it is supposed to do, then from the most popular projects go down to the where tens of projects release daily, study them all (you don't have to buy).
Then when you think you have a pretty good understanding of crypto and the markets you can start playing around.
Throw in a little bit of TA as well to give you a bit of understanding of market sentiment and you have a pretty good chance of succeeding.
My honest opinion is to not use TA only, especially if you don't understand the ecosystem. I rarely use TA to trade, mostly just to see market sentiment on weekly charts and so on.
Learn what market cap is, what diluted market cap is, how you can use them to see if a project is overvalued, undervalued, etc.
Simply knowing how Bitcoin works and what it is supposed to do is not enough, go deep into different protocols such as automated market makers, liquidity providing, yield farming, leveraged yield farming, programmable liquidity, aggregators, forks, NFTs, etc.
Learn how every protocol works and what it is supposed to do, then from the most popular projects go down to the where tens of projects release daily, study them all (you don't have to buy).
Then when you think you have a pretty good understanding of crypto and the markets you can start playing around.
Throw in a little bit of TA as well to give you a bit of understanding of market sentiment and you have a pretty good chance of succeeding.
My honest opinion is to not use TA only, especially if you don't understand the ecosystem. I rarely use TA to trade, mostly just to see market sentiment on weekly charts and so on.
Willyfish
Inappropriate behavior toward members + Rule 3.5
- Dec 6, 2019
- 2,494
- 14,243
I agree with the guy 100% on this one.
You have a higher probability to win the lottery on the long term than to become rich with cryptos.
We hear a lot about Bitcoin right now but it's presented as a get rich quick scheme and we now how this finish...
And you are saying this based on what exactly? What is your crypto experience? Based on your answer, I can tell you have close to zero knowledge about cryptocurrencies. You got this whole thing wrong mate.
Willyfish
Inappropriate behavior toward members + Rule 3.5
- Dec 6, 2019
- 2,494
- 14,243
I was into forex trading, not in cryptos you are right. But daytrading is daytrading and I can say with confidence that it is the same game, you have to do your technical or fundamental analysis too and 99.9% will lose their money. Cryptos are the new gold rush, don't you think?
adconsult
Regular Member
- Nov 16, 2020
- 224
- 69
My advice would be check out Quickfingers Luc on youtube, most solid and reliable trading method I have found that doesn't require you to learn technical analysis. Proper investing on the other hand comes down to doing research, being on the frontier of what the next big thing might be. I guess when it comes to investing there is no way around spending hours going through coins, websites, forums, etc.