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How to trade cryptocurrency

17 / April / 20 Bunsi Shakiramal Visitors: 281 Rating: ★★★★★

How to trade cryptocurrency: 7 rules for beginners
Cryptocurrency exchanges can both enrich and deprive all savings. Learn the basic rules of successful trading.
Every beginner will answer this question - buy cheaper, sell more expensive. Or the modern version of the proverb - Take on the bottoms, lei on the hai. But often it turns out to be much more complicated.

Once in the market with an uptrend, we conduct several operations with profit. After making sure of our success, we buy the next portion of coins and watch how it becomes cheaper every week.

How to trade cryptocurrency: 7 rules for beginners
Sometimes this option is supplemented by panic throwing - sell in the red, buy on a temporary increase (pullback) and watch for a further fall, for fear of not having time to enter again.

From here are a few basic rules of a crypto trader:
No panic. Fear is caused by a misunderstanding of the situation. As soon as you have experience in trading at least a few months, you will see that the cryptocurrency market does not burst in one day, and the subsidence of bitcoin per day for $ 1000 is just another temporary phenomenon that you just need to survive (if you did not manage to drain the coins on time )

Learn to understand the direction of the trend and its reversal. Otherwise, all trade turns into roulette. You can buy coins at a low price by closing the previous deal, and once in a downtrend, you can spend many months with this bag of coins. At this time, the money is actually frozen with an uncertain perspective. As an example, STRAT, which, being a good coin, has depreciated 2.5 times over the past two months. Or GBYTE, which has lost 90% of its value since July.

Learn technical analysis. Thoughtfully and methodically learn patterns, candles, waves. Build your charts and compare them with the vision of professional traders (for example, on the tradingview website). Large exchanges offer a good selection of indicators, but they will become a loyal assistant only with the ability to determine larger-scale course movements. Learn to work with different timeframes to see the picture on a scale. It is also advisable to read at least a couple of books on trade that have become classics. This can be the work of both the 80s and 20s. You will be surprised how stable the laws of exchange trading are.

Do not put everything on zero. The prospect of making a lot of money on one day pushes us all to rash steps. Nevertheless, the rule says: the more you invest, the higher the risk. Break your deposit into at least 10 coins (be sure to include bitcoin and teaser).

Be skeptical about pump groups and coin buying tips. Their only task is to make money. Most participants buy coins at the time of their maximum price, and are forced to keep them waiting for the next pump. The organizers also buy viola on the most favorable conditions, and merge at the time of the announcement of the pump or important news from the developers.

Do not try to buy the maximum number of unknown coins in the hope of their sharp multiple growth. Practice shows that most of them will sink into oblivion. If your portfolio has too many assets, you will not have time to keep track of each person’s movement and you will have to suffer losses.

Take trading as calmly as possible. All processes are cyclical. Bitcoin and strong altos have good potential for further growth. A recession can last either a week or several months. But after that the time of the bulls will definitely come. And even if a coin is removed from a major exchange (for example, BTS with Bittrex), this is not a sentence.

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