Best way to Efficiently and Effectively trade Altcoins

[I-Bit]

If you are not a risk-taker, the chances of you getting a profit from trading are very low. What does it mean to say, How can you make money trading if you haven't bought any coins on a trading platform? If we don't do this, we can't be called traders.

Of course, we must take a risk if we want to trade. There is not trading with no risks. Sure, we also must buy coins to trade, how we trade if we have no coins. 

You also have an idea about the coin that you want to trade; don't just buy it or base it on your hunch or imagination. Trading is not the same as gambling.

Sometimes trading can be like gambling if we buy coins without any analysis or research. People who don't take a deep research before buying, or they never update any information about the coins and crypto market. This type of trading can be called as gambling. I think there are people do this although they assume they have a certain strategy.

[R100K-Martin-Lunger]

Hey there Guys, We have been trading crypto for a few years but through centralized exchanges and holding layer 1 coins. We want to this year look into trading Alt coins and exposing ourselves to larger gains that can come more frequently and thus make a monthly income from this. We are looking at the space however finding it very hard to create a efficient strategy on how to monitor coins and buy in. we are using excel and it is quite time consuming to monitor coins. we have looked into paid subscriptions on patreon and moralis money but don't know what is good at this stage. Also we dont know whether to move from centralized exchanges and get into decentralized exchanges. we wanted to find out from this conversation the following:

1. what have people done that has lead them to achieve the most efficient strategy that is time efficient in looking for, finding and trading altcoins? what systems do you use? example excel. and what are your daily steps to check and trade?
2. is there any paid memberships that have helped? any recommendations?
3. we want to achieve about 20-30% a month from this. has people able to achieve this?
4. we are looking at trading view, cryptobubbles and dextools. is there particular websites you look at to easy get the data you need to make the right trades?

Thanks Guys. hope this helps us and all people viewing this conversation. thanks.

Venturing into altcoin trading for more frequent gains is a strategic move. Many successful traders use a combination of tools like TradingView, CryptoBubbles, and DEXtools for insights. Automation, rather than Excel, can streamline your process. Paid memberships like Patreon or Moralis Money can offer curated insights but research their effectiveness first. Achieving 20-30% monthly is ambitious and varies per individual. For an efficient, time-saving strategy and more insights, check out R100K's guide on Crypto Trading Strategies(https://r100k.com/blog/crypto-trading-strategies-2024). This could provide a comprehensive view to help shape your approach.

[CryptoLaila]

Traders won't recommend paid subscription because they realized that the key to become profitable trader is not solely in the strategy.

Exactly., probably  a paid subscription for new alerts  though because I believe  they do capitalization on their strategy trying to improve it into a soft profit earner, this strategy is always their key to huge profits and its always  hard to disclose

[$crypto$]

If you are not a risk-taker, the chances of you getting a profit from trading are very low. What does it mean to say, How can you make money trading if you haven't bought any coins on a trading platform? If we don't do this, we can't be called traders.

Of course, we must take a risk if we want to trade. There is not trading with no risks. Sure, we also must buy coins to trade, how we trade if we have no coins. 

If we never take risks then we will never trade. Risk is something that must be discussed from the beginning before we enter the trade, hence there is such a thing as risk management that we must fully understand.

Not only in risk we must understand, in terms of profit we must really understand it, because it is not uncommon for people to lose money because they are too greedy in taking profits.

Sometimes people forget, yes when they lose money they can apply risk management, but when they get profits they become greedy, it actually becomes something that can harm themselves. Greed is the enemy of every trader.

[Mr. Magkaisa]

     -   As far as I know, as long as the knowledge of trading is extensive, the 20–30% profit in the capital investment that we will use in trading can be obtained in just one week, depending on the situation in which the market will move.

But it is not easy to get this percentage within a month. It is necessary in this situation that a trader is passionate about the trading activity he is doing in addition to the knowledge that he knows there is in the crypto field of this industry.

[Uruhara]

Actually trading in altcoins is much simpler if we understand fundamental analysis. As we always know what events will come this month and the next. We enter early and we leave when the event starts. Well it's very simple. But for those who don't know where to look at the event schedule, it will be very difficult for that person. But currently there are many big channels on Telegram that like to share crypto calendars which contain detailed upcoming events that we can use.

Or if you want to collect event data independently then you can see it on CMC and on Marketcal. For example, you can see the crypto event here (https://coinmarketcal.com/en/)

So I think it's better for us to focus on insight and how to get it first so that we don't just trade based on mere speculation. But we can already see the potential that exists. After that, use technical analysis to determine at what point we should enter or exit. I hope this helps 

[BitMaxz]

Actually trading in altcoins is much simpler if we understand fundamental analysis. As we always know what events will come this month and the next. We enter early and we leave when the event starts. Well it's very simple. But for those who don't know where to look at the event schedule, it will be very difficult for that person. But currently there are many big channels on Telegram that like to share crypto calendars which contain detailed upcoming events that we can use.

Or if you want to collect event data independently then you can see it on CMC and on Marketcal. For example, you can see the crypto event here (https://coinmarketcal.com/en/)

So I think it's better for us to focus on insight and how to get it first so that we don't just trade based on mere speculation. But we can already see the potential that exists. After that, use technical analysis to determine at what point we should enter or exit. I hope this helps 

That is a part of fundamentals but this is not only for upcoming events you also need some news related to the target crypto you are planning to invest and trade.
A news aggregator is one of the tools you need like cryptopanic and other things you need to do deep research to the project and check the whitepaper if it's not plagiarism or if it has potential including checking the team if they are real people or not plus the roadmap before you invest you will need them as one of the FA method to make sure you are investing to a legit one and not investing to a scam project that made only for churn and burn.

[UNIVERSE]

Trading is a high risk thing. However, if we really want to do it, we need good knowledge and insight into crypto, market analysis, and so on so that our trading can run well.

Are you right to do future trading? because with this maybe the results will be very good. but remember, HIGH Return, HIGH risk. For this reason, it is actually not recommended for beginners to do this. "

Do you intend to join paid VIP trading signals? Actually, this could be successful, but it will still depend on how you can analyze the market and ultimately be able to apply the signals given by them. because if not, it's useless. This will not be as successful as the signal givers.

So in essence, try step by step and understand the flow. Because sometimes each trade has its own tactics and flow to achieve success in trading.

[pacar_tiri]

Trading is a high risk thing. However, if we really want to do it, we need good knowledge and insight into crypto, market analysis, and so on so that our trading can run well.

Are you right to do future trading? because with this maybe the results will be very good. but remember, HIGH Return, HIGH risk. For this reason, it is actually not recommended for beginners to do this. "

Do you intend to join paid VIP trading signals? Actually, this could be successful, but it will still depend on how you can analyze the market and ultimately be able to apply the signals given by them. because if not, it's useless. This will not be as successful as the signal givers.

So in essence, try step by step and understand the flow. Because sometimes each trade has its own tactics and flow to achieve success in trading.

Trading only requires having capital and doing research on the coins you want to buy, and after that, you buy and wait for the price to rise, whereas if you use methods other than that, then the trading you do will indeed be very risky, especially when joining the VIP group, where you indirectly become a buyer of the coins that have been purchased by the group owner. so that group owners will feel safe because they have bought in advance and are prepared to sell.

[Litzki1990]

If you have good idea and good knowledge about tedding you can make profit but you can't say that you will definitely make profit. If you want to trade with ALT coins then first of all you need to select some coins in the market which have high market volume and which have their own platform as well as which have been in the market for a long time. In this case, you can keep some coins in the list of favorites including BNB, Ethereum, Matic. The market volume of these coins is quite high so if you can trade with these coins properly understanding the market then you have a good chance of profit here.  However, there are some coins that have the potential to give substantial profits, but they disappear from the market most of the time, so avoid investing in those coins.

[TopT3ns]

If you have good idea and good knowledge about tedding you can make profit but you can't say that you will definitely make profit. If you want to trade with ALT coins then first of all you need to select some coins in the market which have high market volume and which have their own platform as well as which have been in the market for a long time. In this case, you can keep some coins in the list of favorites including BNB, Ethereum, Matic. The market volume of these coins is quite high so if you can trade with these coins properly understanding the market then you have a good chance of profit here.  However, there are some coins that have the potential to give substantial profits, but they disappear from the market most of the time, so avoid investing in those coins.

Altcoins have very high risks, and when you have done research, it will not let you go without risk. What you have to do is have the courage to face the risks that exist. As is currently happening, the price of Bitcoin has tended to collapse, and this may have a bad impact. regarding altcoin price movements, which will collapse in the future.

[Carbitcoin]

Clearly, trading fiat currencies and, for example, binary options are very different from trading cryptocurrency. You always need to look for the right approach to achieve results. From the point of view of fundamental analysis, the cryptocurrency market can present many surprises.  Digital assets can change dramatically in price due to various events: deviation from the project development plan, forks, an increase or decrease in exchange trading fees, a sharp change in the popularity of a coin among miners, etc. Based on this, before trading, you need knowledge of analysis

[Captain Corporate]

One thing that I can guarantee that whatever strategy one person used, doesn't mean it will be great for another person. I have been in the crypto world for a decade now and I have seen this a million times. I have seen people share their strategy, and proof that they made money with that strategy, and then I have seen others copy that and made no money at all. You just need to realize that what works for others may not work for you and what works for you may not work for others. Rest can be done, but do not listen to people who think that they are giving you a way to make money, that's not possible for others to do that.

[Litzki1990]

For long term investment we always prefer bitcoin but besides long term investment when a traders is trading for small amount of profit but that investor prefers bitcoin as well as some ALT coins. ALT coin definitely gives more profit than bitcoin in terms of trading if a trader can trade the right coin with proper rules. Every coin has considerable importance in the market and every coin is definitely market important. Every investor besides holding bitcoins is also adding some ALT coins to their portfolio to enrich their portfolio. I am a bitcoin investor as well as do a lot of trading in ALT coins so all types of coins are important to me.

[IvugeoEvolutionCoin]

Clearly, trading fiat currencies and, for example, binary options are very different from trading cryptocurrency. You always need to look for the right approach to achieve results. From the point of view of fundamental analysis, the cryptocurrency market can present many surprises.  Digital assets can change dramatically in price due to various events: deviation from the project development plan, forks, an increase or decrease in exchange trading fees, a sharp change in the popularity of a coin among miners, etc. Based on this, before trading, you need knowledge of analysis

I agree with your statement because cryptocurrency price movements depend on the situation and conditions of the news in several media and of course developments such as forks and halvings will have a good impact on cryptocurrency price movements, but you need to pay attention that price increases will not always be high because sometimes the increase is only a few percent.