BLOODBATH TRADING TIPS (SURVIVAL TIPS)
CRYPTO TRADING TIPS ON THIS BLOODBATH:-
1: Grow balls, be patient. The crypto market is a bullish market (for now and maybe many years to come).
2: Buy on the rumor, sell on the news.
3: Diversify, not all your money in one coin: Not all your eggs in one basket.
4: NEVER sell at a loss, unless you're sure you will make more money on an other coin. See tip 1!
5: Before you invest in a coin, look if it is listed on multiple exchanges like Poloniex, Bittrex, Kraken, Bitstamp and Bitfinex. See tip 9.
6: Don't start with margin trading Until you made some solid profits with normal trading.
7: Don't be a fool and use pump groups, only the initiators win and only you will win when there is a snowball effect.
8: Investigate a coin which you want to enter long term, if they have a solid businessplan and have a practical use and it is in a niche and there are no coins out there that do the same, then it might be worth while. Also don't underestimate a good PR machine, people will jump in coins that have a good PR machine, even if they are worthless.
9: Stay out of ICO's, it is like a lottery, there are to many out there and much of hem won't be arround in a few years, just like the 400+ altcoins that were created in 2013 and vaporized in 2016. It will be more luck then wishdom if you make money on it.
10: Don't look at the 5-15-30 minute candles, look at the 2h, 4h candles, 2 weeks or a month back, or even longer.
11: Don't look at charts all day, they make you paranoid and remember tip 1!
Tip me when these things make you rich some day
nice tips bitdude...... but what of trading platforms that do not have up to 2hrs candle sticks or more and what is a snow ball effect?
Alright, for platforms without longer Candlesticks, I suggest you research thoroughly on the coin before buying. You might jump in when it's at it dumping stage and gets dumped at.
Snowball effect is more like a sudden pump or when there's reversal of the coin from its dump to mooning. It's happens but rarely.
Nice post. Followed you. Please follow me.
Sure will, am glad you pointed it out
Nice one.
Thanks, glad you like it
Fantastic tips.. but arent 30 mins candles foday trades?
Good advices, I actually think that most investors in hype coins panic sell and panic buy, allowing the rest to profit on this emotional trading. The problem is that you don't know when the panic strikes. for example in the last BTC tank, I thought it will hit at least 10 days later, not almost 1 month before. This is how much of a panic is out there. Most of us trading "pennies" in comparison with people taking out huge amounts of money out of the cryptocurrency markets.
Makes me wonder.. Thanks.
Great contribution