Is this a good crypto strategy to trade?

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Deleted member 1603965

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I am trading golden crossover in daily chart. Also, I am looking for patterns like ascending triangle and stuff besides doing basic tokenomics search like market cap, whales holding etc on some popular crypto sites. Anything else I should be doing? I am a noob when it comes to crypto as a technology and have 0 understanding of it. What is your advice guys?
 
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My advice is to do whatever strategy you want, but do it on demo mode for at least 6-12 months.... then you will have an answer.
 
Dont invest money you are not ready to loose or hold for upto 2 years till it becomes profitable
 
GhostVision said:
My advice is to do whatever strategy you want, but do it on demo mode for at least 6-12 months.... then you will have an answer.
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OK. I will do that.
Nw_Work said:
Dont invest money you are not ready to loose or hold for upto 2 years till it becomes profitable
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Yeah, I have fielded a very small amount into it at the moment for trading, about 90 USDT.
 
Don't use leverage, crypto swings liquidate you easily or set up real good trailing stop losses
 
alurosu said:
Don't use leverage, crypto swings liquidate you easily
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Yeah, I am staying away from leveraged trading as I know it is far more riskier and can wipe off my capital easily.
 
Deleted member 1603965 said:
OK. I will do that.

Yeah, I have fielded a very small amount into it at the moment for trading, about 90 USDT.
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trading is much harder than you can imagine... if you really want to learn you need a lot of time and patience.

to become a good programmer... maybe you need 2-4+ years... to finish a university the same... it takes 3-6 years.... same for trading :) and if you only have small amounts, and you don't have capital after learning, you wasted your time.

My point is if you know how to make money with something else... trying to learn trading is a waste of time

focus on what you know how to do, don't waste time trying to learn something new!
 
GhostVision said:
trading is much harder than you can imagine... if you really want to learn you need a lot of time and patience.

to become a good programmer... maybe you need 2-4+ years... to finish a university the same... it takes 3-6 years.... same for trading :) and if you only have small amounts, and you don't have capital after learning, you wasted your time.

My point is if you know how to make money with something else... trying to learn trading is a waste of time

focus on what you know how to do, don't waste time trying to learn something new!
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I get your point but I have been a profitable stock trader at the Indian stock markets (not derivatives, just simple stocks). Like I made 10K INR this month (I know luck played some part in it as never gotten this much return in previous months) on a capital of 110K INR so far. Would you still recommend me to stay away from crypto or should I at least try it out for say a month or 2 and see what happens and then decide? I totally get your point about lesser capital being available.
 
Deleted member 1603965 said:
I get your point but I have been a profitable stock trader at the Indian stock markets (not derivatives, just simple stocks). Like I made 10K INR this month (I know luck played some part in it as never gotten this much return in previous months) on a capital of 110K INR so far. Would you still recommend me to stay away from crypto or should I at least try it out for say a month or 2 and see what happens and then decide? I totally get your point about lesser capital being available.
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how long have you been doing this?


because if you've been doing this for less than a year, it doesn't mean you have a good strategy.

I'll give you a simple example:

you enter the market to make/learn trading right in the bullmarket, you're on profit month after month, and you think you've learned trading and have the perfect strategy.

the market changes, you have a huge chance of losing everything, because absolutely everything in the market changes.

you need a lot of experience, to know how to adapt to the market = you can't learn that after a few years of trading, we're not talking months. And I think you have to be 100% in trading, you can't do that and do something else.
 
GhostVision said:
how long have you been doing this?


because if you've been doing this for less than a year, it doesn't mean you have a good strategy.

I'll give you a simple example:

you enter the market to make/learn trading right in the bullmarket, you're on profit month after month, and you think you've learned trading and have the perfect strategy.

the market changes, you have a huge chance of losing everything, because absolutely everything in the market changes.

you need a lot of experience, to know how to adapt to the market = you can't learn that after a few years of trading, we're not talking months. And I think you have to be 100% in trading, you can't do that and do something else.
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I have been doing this since April this year profitably. But still really good points made by you. I agree that a bull market may make me overconfident and make me take riskier/ stupid decisions. Yeah, I think commitment to trading is indeed a must to be successful.
 
Deleted member 1603965 said:
I am trading golden crossover in daily chart. Also, I am looking for patterns like ascending triangle and stuff besides doing basic tokenomics search like market cap, whales holding etc on some popular crypto sites. Anything else I should be doing? I am a noob when it comes to crypto as a technology and have 0 understanding of it. What is your advice guys?
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Crypto does not follow chart now. It is manipulated by whales. Do not invest more than what you can afford to loose.
 
seomaster5 said:
Crypto does not follow chart now. It is manipulated by whales. Do not invest more than what you can afford to loose.
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Noted. Can you share some links related to this or is this your personal experience? And yes, I am not investing much. Just 90 USDT which isn't much TBH.
 
Deleted member 1603965 said:
Noted. Can you share some links related to this or is this your personal experience? And yes, I am not investing much. Just 90 USDT which isn't much TBH.
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90 usdt is fine. In fact, for this amount , you should waste time in research even. Just invest in bitcoin and let it grow. If you invest that amount of time in real freelance work , you can ensure guaranteed returns for yourself.
 
seomaster5 said:
90 usdt is fine. In fact, for this amount , you should waste time in research even. Just invest in bitcoin and let it grow. If you invest that amount of time in real freelance work , you can ensure guaranteed returns for yourself.
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This does seem like a good idea. I will try to implement it.
 
Expand your market by advertising your products everywhere at low cost. It's the best way to let more people know who you are and what you're doing about it. Make money smartly
 
Pretty unpredictable market, everyone’s a genius when there’s an uptrend and you can easily get the feeling that you know what you’re doing, when in reality none knows sh*t about f*ck. Don’t leverage trade and definitely don’t invest more than you’re willing to lose. My advice would be doing a steady DCA in BTC and forget about the rest.
 
You don't need leverage in crypto. Try to learn many strategies. There's no good or bad strategy because what matters is the market condition. You either adapt to the market condition or you go and find another market condition suitable for your strategy. You can be good with only one strategy but it will require a lot of expertise and knowing when a condition is changing...also a lot of intuition. You might not even get a trade for many weeks. There's the other route which is going systematic and learning many strategies that are non correlated. This system is hard to build at first but once build it is very effective but it still requires maintenance from time to time. If one strategy is not working, the others will and you'll get a steady non volatile equity curve which is what you want as a trader. You will need a lot of trades each with small size for this to take effect. Most traders will take the one strategy path which can be the hardest but still doable. You will just need to be extremely disciplined and know how to read markets which comes with tons of experience
 
GhostVision said:
My advice is to do whatever strategy you want, but do it on demo mode for at least 6-12 months.... then you will have an answer.
Click to expand...
In 6-12 months, lot of opportunity is lost. One month demo trial is more than enough when someone pays attention.
 
The provided question doesn't outline a specific crypto trading strategy. Please provide details, and I'll do my best to assist.
 
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