Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: romeo338 on January 16, 2024, 07:32:25 AM
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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.
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There's no secret anywhere than what we all know and had already been revealed concerning trading, learn to do it, understand it and accept the risk involved in doing it, also, there's this other thing many don't take their time to do, which is in making research about a crypto we are viewing in prospect, this step goes a long way in helping achieve some certain level of convincing informations about what we want to invest for trade.
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There's no secret anywhere than what we all know and had already been revealed concerning trading, learn to do it, understand it and accept the risk involved in doing it, also, there's this other thing many don't take their time to do, which is in making research about a crypto we are viewing in prospect, this step goes a long way in helping achieve some certain level of convincing informations about what we want to invest for trade.
Thanks for that. I know that there is no "secret" as such. Iam just asking to to see what experienced traders in the small caps handle there approach in assessing coins and keeping track of it.
there was other questions in my initial post to get a conversation going on what people do and how. it would help those getting into the space to learn and grow as "what we all know and had already been revealed concerning trading" has not been discovered by many. Most people particular new to intermediate skill sets are growing and learning from conversation such as these....including myself.
thanks
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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.
It's hard to imagine that Excel is still being used to track investment portfolios, I think it should just be used to create a trading diary.
I don't understand specifically what your trading school is: Fundamental analysis or Technical analysis, Elliott wave or Ichimoku. Whatever style it is, perfect it and test it to find what works best for you.
I will talk about some tools: you can use TradingView or Coinigy to monitor coin price fluctuations. Blockfolio is the perfect app for portfolio tracking. Coingecko/Coinmarketcap also has a portfolio feature, including token purchase history to track DCA strategies.
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1. Managing their Loss and emotion. Making use of money they willing to loss
2. There are but won't recommend it. Most die out later due to unforeseen losses.
3.Yes even more but there's no gain without losses. And you shouldn't always expect to win.
4. Trading view a personal favorite. But collecting data shouldn't be centered on one location. Do thorough research on what you plan on trading.
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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?
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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?
I don't trade that much, like if I am trading in 2 to 10 alts then I obviously don't need excel or some type of sheet to store my data on, because I mostly trade on like 4 to 5 exchanges, and almost all of them have some type of mechanism that reminds me of my entry price, the amount I used to buy some alt, etc. like data. So why would I be using a spreadsheet for this? BTW use of spreadsheets is also very easy if you have set up everything like the formulas. But if you don't want to use a spreadsheet then you can use the coin gecko portfolio feature.
I use trading view to keep an eye on the prices of coins and token I am interested in, and I don't think I have ever face the need to buy that tool.
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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?
I simply do simple fundamental analysis, as I said before in my last post that, the current state is bullish and every coin will make you profit, no matter what you chose but still you have to be wise and do proper homework.
2. is there any paid memberships that have helped? any recommendations?
If you are thinking of joining VIP groups then mind my words that they are not helpful, I am not into any VIP group but I am into many free groups and I have been following them for a long time and I can say one thing for sure that they will always show there good trades to motivate you to buy there VIP group but they will never share the reality.
3. we want to achieve about 20-30% a month from this. has people able to achieve this?
Yeah, it is possible to achieve such results even in bear market but with proper technical and fundamental analysis.
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?
I mostly use Coingecko and Coinmarketcap, but trading view also comes in handy when I have to look prices on a smartphone because Coingecko is slower if used as app and CMC also slower maybe my side problem but you can chose any that suits you best.
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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?
1. I don't use excel I simple use my mind to remember the trades I made, or I write them separately on my notes app on my phone, but the use of excel to keep record of trade is also a good way. Because on most cases our trade goes for days and we forget about it or forget that at what price we entered the market and how much we invested. To keep record of these things we can make a spreadsheet for that if you wanted to make one then go on.
2. Only self reliability is the best option I found rather then paying for signals.
3. It is possible to make such profit even more than that but you have to be active and more strategic.
4. You can use any bit trading view is mostly used by many traders, because it is easy to use, if you are not a pro trader and don't use many indicators then still you can use Trading view or its alternative also without buying it premium.
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1. Managing their Loss and emotion. Making use of money they willing to loss
2. There are but won't recommend it. Most die out later due to unforeseen losses.
3.Yes even more but there's no gain without losses. And you shouldn't always expect to win.
4. Trading view a personal favorite. But collecting data shouldn't be centered on one location. Do thorough research on what you plan on trading.
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.
But of course you should. 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. Because of trading, you can get passive income, but that depends on the knowledge that the trading individuals have.
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Except for some new traders, most experienced traders do not relay of paid subscription for any price prediction groups because a lot of those groups are just purely scam and nothing else. Some could be real but only very few but despite that few are real, you can not still be accurate of price prediction all the time because the price of cryptocurrency is usually very dynamic.
As a trader, my best trading strategy in alt coin investment is to buy on a low price and sell high. I trade more of the coins that are only listed of tier one cex and I prefer to buy coins with very low price (e.g: $0.0001 or $0.05) so that I can actually buy a huge number of the coin and if the price can just move from $0.05 to $0.15 it can give a tangible profit. Also, I like to trade mostly on newly listed coins. Lastly, if a coin is listed with just a small trading volum, I will dive in because I know that as the volume keeps growing, it means more investors are pumping in funds and it will surely chase the price to go up, but if it's listed with a huge trading volume, there are chances that the volume can be dropping gradually so as the price.
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Except for some new traders, most experienced traders do not relay of paid subscription for any price prediction groups because a lot of those groups are just purely scam and nothing else. Some could be real but only very few but despite that few are real, you can not still be accurate of price prediction all the time because the price of cryptocurrency is usually very dynamic.
You're right. Most experienced traders don't join any paid groups for trading, they don't need others' prediction. We can do our own prediction if we have knowledge, it is much better and safer than we rely on other people's prediction. There are many scam cases with prediction groups, they boast to give accurate prediction but it is nothing. Sometimes, the groups can be inactive anymore, then we lose our money.
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You're right. Most experienced traders don't join any paid groups for trading, they don't need others' prediction. We can do our own prediction if we have knowledge, it is much better and safer than we rely on other people's prediction. There are many scam cases with prediction groups, they boast to give accurate prediction but it is nothing. Sometimes, the groups can be inactive anymore, then we lose our money.
Absolutely agree, don't believe in trading group.
I think they just gain your paid.
I agree , better to believe in our prediction and analysis.
It's our money, do with your own risk.
No guarantee will gain profit by joining group.
No one can predict the market accurately, It's just predictions.
Same like our prediction.
So, Be careful..
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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.
What kind of paid subscriptions are you looking for? Is it to look for low volume/market cap coins with good potential and so on? I'm not sure if any service like that is reliable since most of them will be a pump and dump group sooner or later IMO. Have you tried checking some trading platforms where you can connect your exchange API key to view your trades? It is definitely a risky thing to do but I don't see how you can make the management easier with that kind of target unless you build your script or tool. I also don't see how moving to DEX is a good move if profit and liquidity are your goal unless you want to find some hidden gem which is probably not gonna give you 30% profit per month in the short-term, if ever. CMIIW.
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Except for some new traders, most experienced traders do not relay of paid subscription for any price prediction groups because a lot of those groups are just purely scam and nothing else. Some could be real but only very few but despite that few are real, you can not still be accurate of price prediction all the time because the price of cryptocurrency is usually very dynamic.
As a trader, my best trading strategy in alt coin investment is to buy on a low price and sell high. I trade more of the coins that are only listed of tier one cex and I prefer to buy coins with very low price (e.g: $0.0001 or $0.05) so that I can actually buy a huge number of the coin and if the price can just move from $0.05 to $0.15 it can give a tangible profit. Also, I like to trade mostly on newly listed coins. Lastly, if a coin is listed with just a small trading volum, I will dive in because I know that as the volume keeps growing, it means more investors are pumping in funds and it will surely chase the price to go up, but if it's listed with a huge trading volume, there are chances that the volume can be dropping gradually so as the price.
Traders won't recommend paid subscription because they realized that the key to become profitable trader is not solely in the strategy.
They learned that we only need one strategy and master it because there is no strategy that have 100% win rate. So if you keep joining paid mentorship program, you're just wasting your money and time because when you apply it in your trade you feel like it's not working, you just didn't realize that the real problem is you, our mindset.
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There's no secret anywhere than what we all know and had already been revealed concerning trading, learn to do it, understand it and accept the risk involved in doing it, also, there's this other thing many don't take their time to do, which is in making research about a crypto we are viewing in prospect, this step goes a long way in helping achieve some certain level of convincing informations about what we want to invest for trade.
The secret to trading is knowing the difference between the technical and the fundamental analysis. If you pick the technical aspect and learn all the basic things, the trend line, how to use the indicators, the fibonaci rules and retracement; and then pick the fundamental aspect of it and learn what is happening surrounding each coin, you grasp everything needs for trading. Anything that comes after this is doing to be your own experience and that is what will determine your the profit and the losses you will be making.
Time is also an important factor here, the more time you spend in this trading journey the more expert you become and the easiest it becomes for you to navigate through the turbulence because if you have been atleast 4 years( a halving), you will understand everything here.
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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. ;D
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.
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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.
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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
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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. ;D
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.
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- 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.
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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 :)
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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.
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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.
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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.
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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.
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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.
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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
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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.
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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.
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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.