How to trade cryptocurrency effectively?

[kreiskleidolon]

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

[Jee]

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.

[Zemytha]

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.

[MVT$]

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.

[aiviaa485]

@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

[arnishad]

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

[enci55]

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

[gurunanakji777]

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. 

[dentolas]

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

[Paglamon]

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?

[Octoalts]

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.

[masterrex]

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.

[LogiC]

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.

[sr.arthur4868]

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.

[Confero]

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.