Jump to content

Ethan

Why Altcoin is falling in value today

Recommended Posts

Ethan
Posted (edited)

5 Hidden Tips for Successful Crypto Trading

 

 

If you at least have tried cryptocurrencies trading, you will know that trading can be tricky. Therefore, you need to know as much as possible to do everything correct and earn big profit.

If you’re reading this article, you might know that altcoins with small capacity always have a great chance for massive gains. But since cryptocurrency market is complex and fast changing, you have to protect yourself with shield of knowledge. These are 5 tips for your successful trading.

 

1. Always Watch How Bitcoin Shifts

You might be wondering isn’t this post about altcoins

Yes, it is, but the main asset that drives change on the Crypto market is still bitcoin. Bitcoin is top cryptocurrency and at the same time, the standard of cryptocurrency. They have strong brand name that affects all other coins. When altcoin market shifts significantly, take a look at bitcoin’s market first.

You have to be noted that bitcoins and altcoins have an inverse relationship. When the value of altcoins decreases, bitcoins gain value. On the other hand, bitcoins usually fall when altcoins rises. So, if the crypto market is volatile, you should be in touch with latest news of bitcoin.

 

2. Don’t Enter a Trade in Rush

This is a common mistake among novice traders that you should definitely avoid. People who are new to trading often enter in rush, and most of them lose big.

For example, a particular coin is on bull, and you have executed an order slightly lower to current price. But you are not in it, and price keeps rising. Here, you should leave them and forget about it, but most of the people has fear of getting left behind, and enters the trade with high price.

 Instead of doing such action, just wait to see how it ends. This is basically the best decision you can make in this case. You are just not invited to that trade, but someday, you will be. Doing so really does raise the chances of losing big.

 

3. Take Breaks

Cryptocurrency market rapidly changes and needs a lot of your attention. But that doesn’t mean that you should be checking how your investments are doing all day long. Of course, checking your investments and seeing the rise is amazing but you should also remember that you’re leading yourself to a greater risk of developing obsession to trading. This may bring serious negative impact to your life and your trading.

Take breaks and make certain schedule and stick to them. Fresh mind and reasonable breaks increase the chance of making good trading decisions.

 

4. No Altcoins for Long-Term Investments

Unfortunately, most altcoins lose their value over time, and you should have this in mind before executing some trades to keep them for medium and long-term investments. Chances are high that it would be a bad decision to having an altcoin for long term because it’ll become much less valuable.

 

5. Don’t Day Trade

If you need to improve your knowledge of trading, day trading is a bad idea. Even for experienced traders, they need to takes a lot of time and effort to win in day trading.

If you are day trading an altcoin of your choice and you have a rule of closing your position when you earned 10 percent, but when the price rose over 10 percent, there’s a high chance that the price will keep increasing. This way, you’ll miss an opportunity to earn more.

Instead of day trading, try to buy and hold your coin for a bit longer. This strategy increases the possibility that your trading will be much more successful and less stressful.

 

 

click on our link to find out more useful info

http://thecoinedu.com/5-hidden-tips-for-successful-crypto-trading/

 

Edited by Ethan (see edit history)

Share this post


Link to post
Share on other sites
Spencer

You are providing same tips as for forex trading. And indeed, there are some similarities between forex and crypto trading. However, analysis is a little bit different, especially when it comes to fundamentals.

Share this post


Link to post
Share on other sites
Vl. Jo

I thought here the author will tell why altcoins are falling in value

Share this post


Link to post
Share on other sites
lewis17

The altcoin run that everybody knows and loves – Ethereum, Ripple, all those things – was three weeks long. And so it’s a very, very short window. Liquidity moves into major market caps, into mid caps, into small caps and then into shitcoins. So the money moves downwards. So, we can see a bull run and an alt season and the multipliers are going to be great because altcoins have just been bleeding the last two months just nonstop. And so once we do reach a bottom, once we do reach reversals, we’re going to see huge gains off of altcoins if and when we see that bottom happen. One of the good ones is VEIL with it current price @0.15$, it definitely gona see an upwards movement soon.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

Cryptocurrenytalk Logo

 

News, information, and discussions about cryptocurrencies, blockchains, technology, and events. Blockchaintalk is your source for advice on what to mine, technical details, new launch announcements, and advice from trusted members of the community. Cryptocurrencytalk is your source for everything crypto. We love discussing the world of cryptocurrencies.

 

   
×
×
  • Create New...

Important Information

By using CRYPTOCURRENCYTALK.COM, you agree to our Terms of Use.