Resources For Learning Cryptocurrency Trading
As some of you may know who follow my Twitter I have decided to take on trading, I am still trying to mine as much as possibly but learning trading signals is something I have always wanted to learn. Its very daunting at first almost like learning a new language but once you start doing a few online courses and playing with a few trading exchanges it all starts to become a little less scary.
I am still very new in trading but I would like to share with you guys some of the resources that I have been using to learn more about technical analysis and also just the terms used in trading. When I first heard people talking about being 'Bullish' and 'Bearish' I was like what the hell are these people going on about.
Hopefully these will provide you with a bit of help as it did me
Beginner Technical Analysis
babypips.com is where I first got pointed to and if you know absolutely nothing about trading then this is the number one place to start. It breaks it down to beginners and then slowly starts teaching you the basics and you can extend your knowledge as far as you want. The one thing I like with babypips is the fact they give you assessments, this way it really keeps track of how much you are learning and what you need to go back and re-read
thepatternsite.com is a great resource for learning patterns, I would learn the above basics first then have a look round the patterns. One of the nice features if that they give you stats on patterns aswell as other useful information
Something a Bit More advanced
www.altcointrading.net If you are a bit more advanced than a beginner it may be worth heading on over to altcointrading, they have tons of resources and alot of tougher analysis to get your head round
Resources For Charts & Trading Analysis
tradingview.com is the go to place for charts, from stocks and shares to crypto tradingview has it covered. This is the must use program if you are looking at charts, it also has quite a social side to it which is quite nice. Just don't take what people say in the chat as financial advice
bitcoinwisdom.com is another place where you can look at charts and some more in depth information regarding particular exchanges. Its like a stripped back version of tradingview which is more useful looking at specific exchange volumes and trends
Exchanges & Futures Trading
binance.com is the number one exchange when it comes to trading crypto, you are able to see advanced charts and they list pretty much every coin you could possibly want. Personally at the time of writing this I would not use any other exchange
etoro.com now I wouldn't necessarily use this for trading but they offer a 'Virtual account' which for when you are starting out it is a great tool to place trades with money that is virtual. Great to practice some technical analysis then buy or sell some on eToro and see what the outcome would of been if it was real money
bitmex.com is not for the faint hearted, I only suggest using Bitmex once you are comfortable with trading and technical analysis. Bitmex offers futures contracts with leverage up to x100 so it is very very easy to get liquidated and lose all your BTC. If you do feel comfortable then I would consider putting a small amount in and playing with the exchange getting use to how futures contracts work
Technical analysis is never a sure thing, you are using it just to give you a guide of where you think the price will go. Crypto can change in a second with a bit of news so never use money you can afford to lose, play smart
Very good post, thanks for sharing.
thanks!