Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: laubeaud on July 14, 2024, 01:59:08 PM
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In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.
What is your opinion about this?
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I trade only few trading pair but prefer with much volume transaction regarding each pair have difference volume, usually in Binance have FUSDT pair but there are less transaction volume although get interested offer without paying fees trading than trade with USDT pair. For bitcoin pair seems interested but to know detail with how much profitable earn easily when using USDT pair for trading.
Last years when Binance still not delisting with BUSD pair its my pair trading only still huge transaction volume and we can't pay any fees yet for trading with large profitable earn with buy or sell without fees.
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What type of trading are you referring to? And do you mean done simultaneously?
Spot trading may be quite good, you have the opportunity to find varied profits. Futures trading is not good enough, there are more complex setups that have to be done at once. Also, it can be increasingly difficult for someone to manage risk even if they use several supporting automated tools/robots.
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Trading on multiple pairs depending on the kind of coin you are trading on because some of these coins does not really poses that quality to couple them together since it's the easiest way to lose one asset because you wouldn't have a total control of your asset in your account, most times when the other assets is decreasing tremendously you would only focused on the other side instead of to carefully study one to two trading pairs. If trading with multiple pairs could involved having multiple screen opened then it could be a bit easier to monitor them than just using a single screen.
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In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.
What is your opinion about this?
- I have also tried to trade multiple pairs and can tell if it is difficult because I am not able to monitor the selected crypto trading activity every day. Because you will always depend on free time and capacity, which can also be done in reality.
So according to my experience, I can only do severa; pairs with monitoring are only in 3 pairs because I have other things to do that are also important, and I can only do that from 1 hour to 2 hours each day.
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Trading few pairs is better. Multiple pairs could lead to easier liquidation. And traders won't be able to follow the asset price movements as you've said. So the best idea is to trade one or two assets to avoid congestion and high risk of liquidation.
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i don't know if i have mastered a pair but its usually just BTC/USDT there is nothing else that people always want to trade bu the major pair. there used to be lots of altcoins paired to BTC such as ETH/BTC, exchanges delisted some of them. but most of what we see today are just altcoins/usdt.
other markets though are just not volatile enough that you can buy and sell at short period off time. there is not much movement of price in them. but if you are fan of a token i guess you can just gradually buy every dip. i tried buying some VET/USDT again lately just for staking for me.
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In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.
What is your opinion about this?
You are trading in two pairs only for a year :o :o You must have a graduation degree in patience. No one could really control their emotions to that level. I also tried to do the same but when I was fed up with trading in the same account I started to search more and I realized that we cannot analyze and observe many coins at the same time for better opportunities. Therefore I began to keep an eye on signals groups which are free and good ones. I don't follow them just see the coin by myself they share in their groups that have a good entry point.
Trading in one or two pairs for a year must make a person a good trader and you must have conquered all the patience-related issues with these pairs. These pairs must be in the top 10 and must be good ones otherwise its not wise to trade in lesser coins because this will not help in minimizing the risk.
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I think it is most depending on your amount of capital because you could put more into some trading pairs that would probably give you higher returns if you have traded it at a certain time. This is also possible if you are trading the market continuously that’s why I use a trading bot And it is trading for me 24/7 so I don’t need to check it all the time. I prefer more trading pairs if I have more capital. It is dependent on what strategy I’m going to use.
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Like many above I will say that for trading in multiple pairs initially you need to have a good amount of funds and then you need to have analysis skills and also have enough time to regularly check them. And if you don't have any of these things above, I would say that trading in multiple pairs will be very risky for you. I don't do much trading in multiple pairs as I don't have good skills myself.
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In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.
What is your opinion about this?
Before selecting a trading pair you need to see how valuable the pair you will exchange your tokens with is. As we mostly use USDT pair because we know that USDT is very valuable stable coin you can cashout USDT anytime you want and you can easily trade with USDT. Because almost all coins are listed in this pair. Bitcoin, Ethereum these pairs are almost the same. So we use these pairs a lot. You will not get all the coins in that pair you see other pairs. For this we always use some limited pairs.
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In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.
What is your opinion about this?
Now market is very favourable for traders. Market huge moving being up and down. I think this situation is best for traders. sometime market being use of and sometime market Goose Down. in this situation is best for trading. but only one pair or two pair is not good for trading I think. I always chose good coin for trading. I choose to type of token or coin. One is for short time trade and one is for long time trade. End of the day I choose different types of fair.
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Yes, that will indeed give us better focus, especially because I'm not really a trading master, so it would be much more suitable for me to only focus on a few trading pairs, meaning only a few trading pairs. There is no need to put too much effort into following other people who may have different trading pairs every day. Yes, because they may be professional day traders, that is their ability to do multiple trades in a day.
However, for beginners, or for me personally, a few trading pairs are enough as long as we can optimize them well, that's also not in the future market, only in the Spot market and that also doesn't depend on trading results.
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In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.
What is your opinion about this?
I also think it's a good choice, where when someone understands one of the coins they choose... then from there they can form valuable opportunities that can even provide opportunities to increase income. I myself always prefer to focus on small quantities in order to really understand them by analyzing them... it's true that it will take a long time, but it will be worth it when we can maximize its potential one day.
For analysis with more than 10 coins, of course the time will be divided into very little... and multi-tasking is not very suitable for me at the moment, who still considers trading as a side job.
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In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.
What is your opinion about this?
The number of trading pairs depends on the trader's habits and preferences. Tracking fewer pairs helps traders focus and analyze chart movements more specifically and in detail, while tracking many pairs allows traders to take advantage of more opportunities in the market. For example, if a trader invests in and tracks 10 pairs, then at any given time, he can at least detect 1 trading signal from 1 pair.
I myself usually only track BTCUSD to make decisions for my entire crypto portfolio. When BTCUSD reverses, I will take a common action for all crypto assets: start buying or start selling, because I believe BTCUSD is the most important indicator of this market.
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I believe that you can do whichever you want, it doesn't matter. I mean being a good trader or at least doing good trades means that you know what you are doing, in which case you could make money from both multiple pairs or it could be a few pairs. However, if you have no idea how to trade or a bad trader, then you can use just a single one or a million of them and you would still make a loss. All in all I would highly suggest that you should be considering this situation to be very dangerous and risky, and not deal with any of them at this moment. Just focus on what to do and how we could get over it.
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For analysis with more than 10 coins, of course the time will be divided into very little... and multi-tasking is not very suitable for me at the moment, who still considers trading as a side job.
Trading just only one coin is time exhausting for me. If I want to trade multiple pairs, it has never been more than 3. But I prefer just one pair most of the time. But the main reason I quoted you is that you posted that trading can be a side job. Are you making profit from it? I use low amount of money to trade which makes my profit and loss to be very small and I see it not as side job.
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In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.
What is your opinion about this?
You are absolutely right.
And another way to explain this is, take your complete 10 fingers and put them all in your mouth at once, if you are comfortable having them all in your mouth, then it's completely OK to trade multiple pairs in the market, so long the money is large enough to divide into those several pairs.
But if having your 10 fingers in your mouth makes you uncomfortable, then I understand that so also will trading multiple pairs at the same time make you uncomfortable, and may possibly lead to loses, because keeping up with all the pairs that a position has been open on can be really challenging.
So yeah, for comfort, and to better understand the market so as to win more trades, it's absolutely good for the trader to focus on just a few pairs, or even one pair only, as long as the choosen pair has enough liquidity and volatility.
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The thing is that I do well more when I trade in a single pier than with multiple piers this is because at every point that I recorded my worst trading profits is when I traded in two coins, and this has been my worst experience since I started trading, trading a single coin is and will always remain my best trading approach.
Although some traders can also do well trading multiple coins and in multiple piers, it all depends on each trader's experience and tools, it is then hard to make a balance between the two to point out a difference between them.
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For me, it's better to use one trading pair particularly in crypto because they have different behavior, unlike for forex and stocks. One of the reason why I will not recommend to trade multiple pairs is because of volatility, and crypto are the volatile ones especially those who only have small marketcap. I know there are traders here who using multiple trading pairs, but for newbies, it's not recommendable. Someday, you will determine the reason why.
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In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.
What is your opinion about this?
I might be a failure when it comes to trading in crypto, but based on my experience, the more trading pairs you use, the more stressful it will be.
More trading pairs = more coins to be watching with. The more coins you're watching, the more charts you will be watching as well, and for me, it's stressful and kind of overwhelming since I'm a newbie at that time. I don't know for other experts out there, but there might be some who can focus on multiple trading pairs because they've used to it already since they might be trading for years now.
For most, it's stressful to trade on multiple pairs, and you will feel uncomfortable as well and because of that, you might make bad decisions.
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What is your opinion about this?
Your view on trading a few pairs and not everything is the same with mine because I don't believe that every trader should be into trading all pairs. If you have a discussion with old traders, they will tell you that they have particular pairs that they trade, and they have been following those pairs for years.
As a new trader, the fastest way to loose a lot of money to trading is to focus your attention on many currency pairs.
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For me, it's better to use one trading pair particularly in crypto because they have different behavior, unlike for forex and stocks. One of the reason why I will not recommend to trade multiple pairs is because of volatility, and crypto are the volatile ones especially those who only have small marketcap. I know there are traders here who using multiple trading pairs, but for newbies, it's not recommendable. Someday, you will determine the reason why.
- For traders who have been in the crypto business for a long time, I think it is fine to do multiple pairs in trading activity as long as the trader is able to manage what he is doing properly or correctly.
Because if it does not help him to get earnings, it is better that he stick to a trading pair first, and Bitcoin is seen as the best choice for this matter. And you are also right that it is not arguable for newbies in this field.
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For me, it's better to use one trading pair particularly in crypto because they have different behavior, unlike for forex and stocks. One of the reason why I will not recommend to trade multiple pairs is because of volatility, and crypto are the volatile ones especially those who only have small marketcap. I know there are traders here who using multiple trading pairs, but for newbies, it's not recommendable. Someday, you will determine the reason why.
- For traders who have been in the crypto business for a long time, I think it is fine to do multiple pairs in trading activity as long as the trader is able to manage what he is doing properly or correctly.
Because if it does not help him to get earnings, it is better that he stick to a trading pair first, and Bitcoin is seen as the best choice for this matter. And you are also right that it is not arguable for newbies in this field.
Yeah, that's what I'm saying. Newbies are prone to losses that's why they have to focus on one pair and also for better experience in trading. If a trader is already profitable single pair and wanted to try multiple, then why not? As long as you can manage to make profit then go, we knew it if we're not profitable with multiple trading pair and if so, then go back to a single trading pair.
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Yeah, that's what I'm saying. Newbies are prone to losses that's why they have to focus on one pair and also for better experience in trading. If a trader is already profitable single pair and wanted to try multiple, then why not? As long as you can manage to make profit then go, we knew it if we're not profitable with multiple trading pair and if so, then go back to a single trading pair.
Looking at the analogy, this is nothing but a job in the real world... so someone needs to have a more mature source of income, then for expansion purposes, we can look at other opportunities while still maintaining the previously mature income... the most important thing is to have a coin that is truly understood and also understands its movement patterns.
I really agree with this opinion, because I think this is very reliable for maintaining the existence of a trader.
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What is your opinion about this?
In multiple pairs, you can save your losses. If you incur a loss in one pair, you can easily cover that loss in another pair and maybe even make profits in another pair. In that way, you can cover your losses and earn profits at the same time. However, it is very difficult to manage all these pairs at a single time. Every pair has its own movements, and they are totally different from each other. Therefore, you have to understand and keep track of all the other movements. I prefer to use a fewer number of pairs so that you can easily manage them and gain expertise in those pairs. This way, your margin will increase by 40 to 70%.
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by multiple trading pairs Do you mean trading multiple altcoin/bitcoin pairs, altcoin/altcoin pairs, or altcoin/USDT pairs?
In the case of altcoin/USDT pairs, trading is relatively easier due to the ease of making a profit at the support and resistance levels of USDT, and the matter will become more difficult with altcoin/altcoin pairs and altcoin/bitcoin pairs. Therefore, if you are a beginner or have limited experience, it is better to trade only in altcoin/USDT pairs.
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In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.
What is your opinion about this?
Your Statment seem more like a forex trader because is actually one of the trading that involves so much mastering and otherwise, however in trading as a whole it doesn't make sense when a trader focused on numerous trading pairs because they will hardly understand anyone or master anyone of them, perhaps that's actually what most people failed to understand.
However is good for you to have understand the importance of focusing only a few pairs because overtime you will get use to it and understand how they behave on a certain period of time or months, perhaps one of the reasons why most people have become a professional trader now is not because of trading numerous pairs but instead they just focus one few pairs and study it very well.
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by multiple trading pairs Do you mean trading multiple altcoin/bitcoin pairs, altcoin/altcoin pairs, or altcoin/USDT pairs?
In the case of altcoin/USDT pairs, trading is relatively easier due to the ease of making a profit at the support and resistance levels of USDT, and the matter will become more difficult with altcoin/altcoin pairs and altcoin/bitcoin pairs. Therefore, if you are a beginner or have limited experience, it is better to trade only in altcoin/USDT pairs.
It would really that getting in line in someones experience and if you are really just that still a noob then it would really be that understandable that you would really be focusing on a single pair
and on the moment that you do already obtain that sufficient experience then this is the time that you would really be making adjustments. If you would be deciding on trading with multiple pairs
then it would be your choice and as long you could really be able to bare up with the risks then go ahead, but if you do prefer on having that less
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Yeah, that's what I'm saying. Newbies are prone to losses that's why they have to focus on one pair and also for better experience in trading. If a trader is already profitable single pair and wanted to try multiple, then why not? As long as you can manage to make profit then go, we knew it if we're not profitable with multiple trading pair and if so, then go back to a single trading pair.
Looking at the analogy, this is nothing but a job in the real world... so someone needs to have a more mature source of income, then for expansion purposes, we can look at other opportunities while still maintaining the previously mature income... the most important thing is to have a coin that is truly understood and also understands its movement patterns.
I really agree with this opinion, because I think this is very reliable for maintaining the existence of a trader.
In the eyes of others trading is a job but for me it's a business. But if we're just starting out, we can't really call it a business because we're not sure that we'll make money every week. Because to others instead of making money from trading, they lost a lot of money. And they continue to trade even though they always lose so if this happens, then what they are doing in trading is gambling.
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Looking at the analogy, this is nothing but a job in the real world... so someone needs to have a more mature source of income, then for expansion purposes, we can look at other opportunities while still maintaining the previously mature income... the most important thing is to have a coin that is truly understood and also understands its movement patterns.
I really agree with this opinion, because I think this is very reliable for maintaining the existence of a trader.
In the eyes of others trading is a job but for me it's a business. But if we're just starting out, we can't really call it a business because we're not sure that we'll make money every week. Because to others instead of making money from trading, they lost a lot of money. And they continue to trade even though they always lose so if this happens, then what they are doing in trading is gambling.
It depends on what we consider trading as, there are also those who consider trading as their side job to get more income, because their main focus in looking for work is in the real world.
But it is true that if we do not have experience and knowledge then we will experience more losses, that is why we must first mature our knowledge of this trade. Do not let trading turn into a position where it is a job that spends money.
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In the eyes of others trading is a job but for me it's a business. But if we're just starting out, we can't really call it a business because we're not sure that we'll make money every week. Because to others instead of making money from trading, they lost a lot of money. And they continue to trade even though they always lose so if this happens, then what they are doing in trading is gambling.
Any difference between job and business? I think not problem for some one make trading as main job if can manage well with profitable earn monthly higher than their income as work offline.
I made trading is my main income behind spent all my daily day with online working but have time to manage with other income way from investing and staking coins.
Lose in trading is not much problem during not trade in future and have time get recovery back, but we need learn from mistake and take profit in the future must brave take cut loss to buy with lower price.
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Any difference between job and business? I think not problem for some one make trading as main job if can manage well with profitable earn monthly higher than their income as work offline.
I made trading is my main income behind spent all my daily day with online working but have time to manage with other income way from investing and staking coins.
Lose in trading is not much problem during not trade in future and have time get recovery back, but we need learn from mistake and take profit in the future must brave take cut loss to buy with lower price.
Some people consider a job as an activity of buying and selling services... so someone who works will not be able to experience losses because he sells services... that is usually suitable for those who do not like to speculate...
while business is usually related to profit and loss... such as buying and selling... in business, thinking is more dominant than energy, so people who do not yet have a main income from work are usually reluctant to do business because they are dealing with risks
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I believe that you can do whichever you want, it doesn't matter. I mean being a good trader or at least doing good trades means that you know what you are doing, in which case you could make money from both multiple pairs or it could be a few pairs. However, if you have no idea how to trade or a bad trader, then you can use just a single one or a million of them and you would still make a loss. All in all I would highly suggest that you should be considering this situation to be very dangerous and risky, and not deal with any of them at this moment. Just focus on what to do and how we could get over it.
People are sharing their experiences here, and I know that the experiences of every person are different; some are good, and some are very good. In this, I am sharing my own thoughts. If you are new or have some experience in trading, I suggest trading with a few pairs that will be more precise compared to multiple pairs, which can distract your mind and lead to incorrect analysis of the patterns, ultimately resulting in losses.
I am not saying that your suggestions are wrong, but I just want to make it easier for those who are new to trading.
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In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.
What is your opinion about this?
You are right if we will focus on one or two coins all the time then it also becoming easier to understand the nature of the coin without looking at charts for so long because with time we are already aware of how much potential this coin has, I have spent a lot of time on Gala and some other coins like 1 or 2 more, but I spent more time on gala when I started trading and with more time I realize more about the graph even though I had not extra technical skills to read candles but I was able to predict by seeing the charts.
With time I realize I am fed up with this coin as I was making loss then I thought why not give chance to another coin, so I bought Bnb which also was a good choice and then I invested in two more coins and after some days when I invested in the same two coins by being greedy I liquidated myself and lost my money and from that day I left future. Both trading in single and multiple coins have their own pros and cons I prefer we should change with the trend.
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I believe that you can do whichever you want, it doesn't matter. I mean being a good trader or at least doing good trades means that you know what you are doing, in which case you could make money from both multiple pairs or it could be a few pairs. However, if you have no idea how to trade or a bad trader, then you can use just a single one or a million of them and you would still make a loss. All in all I would highly suggest that you should be considering this situation to be very dangerous and risky, and not deal with any of them at this moment. Just focus on what to do and how we could get over it.
People are sharing their experiences here, and I know that the experiences of every person are different; some are good, and some are very good. In this, I am sharing my own thoughts. If you are new or have some experience in trading, I suggest trading with a few pairs that will be more precise compared to multiple pairs, which can distract your mind and lead to incorrect analysis of the patterns, ultimately resulting in losses.
I am not saying that your suggestions are wrong, but I just want to make it easier for those who are new to trading.
I have experience a lot from trading in the short time that I have being trading and for sure, I is far better to trade a single coin than multiple coins, just as I mentioned in my earlier comment on the risk of trading multiple coins and my bad experience from such action.
My reason is that, I with a single coin, pier you can make a clear analysis and also build the basic concept and tool to always be on a profit side all the time or minimise losses.
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I have experience a lot from trading in the short time that I have being trading and for sure, I is far better to trade a single coin than multiple coins, just as I mentioned in my earlier comment on the risk of trading multiple coins and my bad experience from such action.
My reason is that, I with a single coin, pier you can make a clear analysis and also build the basic concept and tool to always be on a profit side all the time or minimise losses.
For new traders, I think BTCUSD is the only pair they should focus on and trade to gain experience. BTCUSD has all the conditions of a reasonable trading pair: well-known, large trading volume, large number of traders participating, and less manipulation.
However, more experienced traders will seek out many trading pairs to take advantage of capital, opportunities, and time in the market to generate maximum profits. As I see it, they often trade other pairs like ETHUSD, DOGEUSD, BNBUSD, SOLUSD... and also make a lot of profit!"
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For new traders, I think BTCUSD is the only pair they should focus on and trade to gain experience. BTCUSD has all the conditions of a reasonable trading pair: well-known, large trading volume, large number of traders participating, and less manipulation.
However, more experienced traders will seek out many trading pairs to take advantage of capital, opportunities, and time in the market to generate maximum profits. As I see it, they often trade other pairs like ETHUSD, DOGEUSD, BNBUSD, SOLUSD... and also make a lot of profit!"
You are right about that because as a beginner who hasn't studied about the market movement or manipulation of other coin can never have experience to trade them. So it's important to focused on a single pairs for new traders because it would take much time to understand the overall market movement, for expert who has been in the space for long and knows the ways coins has been moving can eventually venture into trading variety of coins though sometimes it's create quicker ways to lose trade since they are always manipulative.