How to trade cryptocurrency effectively?

[backfirst77]

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.

[Lanirex]

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.

[tonymillions84]

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.

[ZionRTZ]

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.

[Cryptoz]

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.

[88percent]

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.

[a_ps]

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.

[hsyncl]

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...

[khufuking]

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.

[Bobcrypto]

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.

[indexx]

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.

[comer]

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.

[ComeBack]

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.