Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: kreiskleidolon on February 26, 2019, 04:46:57 PM
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It goes by saying that a good trader marks for continuous profit.
does crypto work like forex?
i mean some of the techniques on trading real currencies or even stocks do apply but for a novice trader... or even the old gramps..
are there any 'taboos' to watch out for in crypto trading?
Appreciate your help. Thanks
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THE first day i start trading i was new and i start to buy alts as friends recomended to me, when signal go 10 to 15% i use to sell, i never hold and i never love any coin by that time. I get good profit. But later on i start to hold and get more gready i want more profit i ignore stop lose so that lead to lost alot of profit.
Never follow any fomo if coin go high never buy even if all say it isgoing another 100% just wait another oppotinity. Buy low sell when you satisfiy with profit.
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We only need to learn various types of trading patterns. Crypto and forex, in my opinion, are the same. No difference. If you have been trading forex, maybe you will get used to various patterns. So you don't need to worry about trading on crypto.
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There's a proper board to discuss Cryptocurrency Trading
https://www.altcoinstalks.com/index.php?board=132.0
The basics of trading applies to all markets but the strategy differs. I have read some posts by traditional market traders that they had to adjust/change strategies when they came into the cryptocurrency market.
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@Zemytha
In fact, I have never been to trade on Forex and trade with Forex, for this I cannot give advice to Thread owners.
Maybe I also have to learn more from you to trade on Forex and Forex, but if I want and unfortunately I am not interested in either. LOL
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Nothing has modified until currently and that i hope the market can modification its direction and that we would finally see a true optimistic market wherever AN altcoin will offer x5 throughout an evening. we've been expecting ciao and that i suppose it's time
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In my opinion Crypto market is very different from the forex market, and the transaction system and payment mechanism of the currency are different, if we crypt at a certain price, then the crypto will not disappear or decrease but the value goes up and down, whereas in forex not like that
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Greediness is the root cause of loss in cryptos. I would say nobody is perfect in crypto trading the main thing is to follow always quit the trade whenever you are in profit and as a trader it is no use to give priority to only top coins. Do trade the high volume coins so that one can not stuck in a trade and never follow the Fud and fake news.
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well, I'm not a great trader, or maybe even an average one, but I can tell you that there are a few differences to watch out for... namely supply is finite and the market is small in cap and user number, what makes it volatile and in full control by the market makers... this does not mean that the charts don't follow some general patterns, but attention must be doubled...
good luck
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Brother, your idea is not quite right. You have not understood anything of this idea. Repeat what you think about the Aipto market . Let's see if you think of your thoughts?
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The most effective way to trade crypto in my opinion is that we must continue to monitor market price movements. We must often read news about cryptocurrency, and we also have to often do research on the coins we trade. Do not let us choose the wrong coin, so we lose funds.
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It goes by saying that a good trader marks for continuous profit.
does crypto work like forex?
i mean some of the techniques on trading real currencies or even stocks do apply but for a novice trader... or even the old gramps..
are there any 'taboos' to watch out for in crypto trading?
Appreciate your help. Thanks
Im just doing day trading frequently But most of the time im use to earned a minimal amount of BTC, Sometimes im lossing too But thats not deterring me to pursue my goal and desire im treated day trading like a challenge although that crypto-currency trading has similar characteristics like to those on forex but crypto is more volatile and risky comparing to forex.
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THE first day i start trading i was new and i start to buy alts as friends recomended to me, when signal go 10 to 15% i use to sell, i never hold and i never love any coin by that time. I get good profit. But later on i start to hold and get more gready i want more profit i ignore stop lose so that lead to lost alot of profit.
Never follow any fomo if coin go high never buy even if all say it isgoing another 100% just wait another oppotinity. Buy low sell when you satisfiy with profit.
This is a good advice mate. I often get a scenario like this. When the coin is likely to be hyped, I bought some expecting to gain since whales will pump it but it turn out I just lose more than what I should gain. Stop believing on those signals sometime they are the one just making up or guessing the possible movement of price. Also, it isn't guaranteed.
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Trade effectively, you must know about charts. So you know when you sell and buy. Do not let you buy wrong. And don't let you leave your trading. You should've put a buy order to sell it.
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I am not very good at trading Cryptocurrency, but I have my own way to profit in crypto coin trading. first I will choose which coins I will trade, I will not trade on many coins. but I will choose coins that have fast price movements on the market. I will continue to monitor the movement of the coin, and I will buy when the price drops and will sell when the price rises. I am not too eager to get a big profit, when the coin I choose has experienced a price increase of around 20% - 30% then I will sell it.
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Actually it's the same as trading techniques, trading management or analysis used in forex and crypto trading. What distinguishes between forex and crypto is a trading system that is only in the same direction for crypto, that is, we can only buy to make a profit, if forex can sell and buy for profit.
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Many ways can be done to trade effectively in Cryptocurrency. But in broad outline, we must understand about Coin Crypto price charts. We also don't get hung up on popular coins like Bitcoin and Ethereum, because sometimes new coins that appear can also give us big profits.
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i think trading is trading. there is no different. you can apply the same formula used in trading forex in crypto. it will work out for you the same way. no different. it involves the same formula of buy low and sell high. nothing else. practice makes perfect.
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does crypto work like forex?
i mean some of the techniques on trading real currencies or even stocks do apply but for a novice trader... or even the old gramps..
The same trading concept applies to Forex and Cryptocurrency. Given that the crypto market is more volatile compared to forex, you might want to adopt to that and make some changes.
are there any 'taboos' to watch out for in crypto trading?
The usual panic selling. Buying high selling low stuff.
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I think there is no the most effective way in trading that is applicable for all condition. The strategy should be based on the current situation. You need to consider your strategy with the bearish time like today. And know more strategies.
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I am not trading crypto, for now. I think it is better to invest. The current condition on market looks very bad. The prices are very unstable and tend to go down. I think it will be too risky if we choose a bad way in trading.
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Basically, trading in crypto is the same as the system. But what distinguishes is the age of birth between crypto trading with forem and shares. The trading crypto is still young, the votatile level is very high, even very able to exit the system. So keep the basic knowledge of trading with SL pairs always used.
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I'm no longer 10 percent as soon as I see the profit figures, I'm relieved of that coin. The more you wait, the more surely brings damage...
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You can't treat Crypto as you treat forex, you will end up getting rekt and this is coming from someone traded both before, you can do all the analysis you want on Crypto but at the end of the day there are other factors that have more impact on Crypto, graph analysis representing just a small part in the Crypto world while in forex the situation is totally different.
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I'm no longer 10 percent as soon as I see the profit figures, I'm relieved of that coin. The more you wait, the more surely brings damage...
Yes, like you said, it obvious that many individuals has defferent trading strategies. There are guys that trade at a greater profit margin below 10% while some guys guys sell above 10%, and as for me, i like selling even below 10% as a regular trader.
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Forex shouldn't be the same with crypto. Every market has its own nature. I think we cannot apply 100% what works on Forex to crypto. I think we are better to have own ways to trade on cryptocurrency. Research, analysis, and advice are very crucial in crypto.
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There are lot of tools to guide traders to make effective decision. Season traders make profit little by little, in this way they make continuous gain in the market. I am not a good trader but from my experience, its better to hold coin for a long time until it touches to our desire price.
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Based on my experiences, For me crypto trading is easier than to forex. There's really a lot of techniques on doing a trading here in crypto it will just going to depend on what do you think suit to you.