Terms to know while Trading Cryptocurrency : Crypto 101
As many people become more aware and enlightened about cryptocurrencies and their immense capabilities and potential, this has also brought along a wave of traders (both seasoned and green) on platforms such as Bittrex, Poloniex etc.
Here are some terms to help you get started and also meanings to those who may have come across already.
ALTCOIN - Any cryptocurrency other than Bitcoin.
ASHDRAKED - A situation where you lost all your money.
BAGHOLDER - A person who buys and hold coins in large quantity hoping to make good profits in the future.
BEAR/BEARISH - Negative price movement
BTD - Buy the Dip (an indication to buy a coin when it has dumped hard)
BULL/BULLISH - Positive price movement
DILDO - Long green or red candles
DUMP - To Sell off a coin
DUMPING - Downward price movement
DYOR - Do Your Own Research
FA - Fundamental Analysis
FOMO - Fear of Missing Out (A coin is pumping and you get the feeling it's gonna pump more, so you buy high)
FUD - Fear Uncertainty & Doubt
HODL - Hold/Hold a position
JOMO - Joy of Missing Out
LONG - Margin bull position
MCAP/MARKETCAP - Market Capitalization
MOON - Continuous upward movement of price
OTC - Over the Counter
PUMP - Upward price movement
SAJ CANDLE - Huge green candle
SHITCOIN - A coin with no potential value or use
SHORT - Margin bear position
SWING - Zig-Zag price movement (Upwards and downwards)
TA - Technical Analysis
REKT - When you have a bad loss
REVERSE INDICATOR - Someone who is always wrongly predicting price movements.
RSI - Relative Strength Index
WHALE - Very Wealthy trader/Market mover
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Nice post 👍👍
Your response is appreciated :) Hopefully, people will learn a thing or two
Great post bro! Knowing the jargon is 90% of the game!!
Thanks! You're right. At least we should all have an idea of what we're getting into. Knowledge is power.