Bitcoin and Altcoin trading tips

[forexfactory]

Have a reason before entering each trade: Start a trade only when you know why you’re starting and have a clear strategy for afterwards.

Not all traders make gains from trading, since this is a zero-sum game (for everyone who benefits someone else loses on the other side).

The Altcoins market is driven by large whales (yes, the same ones responsible for placing huge blocks of hundreds of Bitcoins on the order book). The whales are just waiting patiently for innocent little fish like us to make mistakes.

Even if you aspire to trade on a daily basis, sometimes it is better not to earn and do nothing, instead of jumping into the rushing water and exposing your coins to losses. From my experience, there are days where you only keep your profits by not trading at all.

Target and stop when starting a trade: For each trade we must set a clear target level for taking profit and more importantly, a stop-loss level for cutting losses. A Stop-loss is setting the level of loss where the trade will get closed.

 

[Jurlare]

Great and very useful tips for all traders which are applicable on any financial market as well as crypto market. Crypto market have almost all elements of fiat ccy market in which sense, knowledge from both technical and fundamental analysis can be applied as well as many other trading aspects

 

[Budiharto]

cool. thanks for the info and tips

 

[Fehmeed]

must use trading bot?

 

[Jaysran]

Looks like a good tips. But I would like to learn trading. Where is the best place to start?

 

[2iquelo]

In short, cryptocurrencies are controlled by the big fish and the small fish who are the retail traders stand to lose whenever the big fish decide so. To be safe, I'll stick to trading real currencies until the time that cryptocurrencies will win my trust. For now, I leave it to the gurus

 

[Poinwan]

I agree with these trading tips for cryptocurrencies. Since crypto trading is still not stable enough in the market, it's only wise that you trade carefully and more so, use stop losses. Not trading at all is better than trading to lose since you get to keep your profits

 

[Pelanali]

Crypto market is not very deep, and in this sense it really can be controlled by investors who have higher amount of capital to invest in this market. We have already seen this situation as of the end of last year