TRADING CRYPTOCURRENCIES - page 11

It is not a swimming pool, but a shark tank. How to choose the right exchanges, how to analyze the charts and trading them. Day Trading is not for the faint-hearted so we make sure to learn first, otherwise, we will surely lose money by doing it. We will show talk about how to read Buy/Sell walls,  check for the best crypto signal groups, and explain how to trade cryptos with leverage on Bitmex. We will provide a Bitcoin price analysis from time to time and check centralized and decentralized Bitcoin exchanges.In the market, we have to develop our own strategies to find out if we are bullish or bearish on a coin or token. Trading cryptos is not the same as trading the common financial markets, as cryptocurrencies are still a young market. If we want to learn how to trade the cryptocurrency market, we need a good knowledge setup, which should contain fundamental analysis, as well as technical analysis like charting, price action, and trend analysis. Due to the high volatility, every transaction contains risk for our trading account - especially if we use financial instruments like leveraged or margin trading. While there are trading courses which can teach us to develop a trading plan and execute a strategy, we will have to work on your psychology as well.We are often trading a virtual currency against another one, so the outcome depends very much on the development of the BTC price and the total crypto market cap. If we want to learn to trade we will have to estimate our risk appetite first and consider then the trading platforms we want to use. As a day trader, we can basically gain capital in two ways: Either on a common crypto exchange like Binance or on a mercantile exchange like Bitmex. Different from forex trading, the crypto exchange market is not yet regulated, which brings risks and so you have to act mindfully.We never invest more than we can afford to lose. We share some trades or a trading strategy from time to time for demonstration purposes, though we are not financial advisors and these trades are from an educational character, so we don't encourage to copy them. Enjoy your trading journey!

Trading Course Review: The Crypto Mastermind

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the crypto mastermind trading course

If you take a look through Crypto Facebook groups, you often come across requests of “what to trade – questions” like “I have 20k to invest, which coins will moon, so I can take some fast profits?”. Usually the lambo-moon-hodl party starts right away and everyone and his wheel-chaired stepmom joins in, to throw in the name of the coin, which they likely hold themselves. Wishful thinking at its best. Especially if someone wants a “fast return”, they are far away from the idea of “investing” into something, actually they request day trading advice unknowingly. And day trading is a tough game. Keep Reading

A Great Cryptocurrency Cointracker: Altpocket.io

in INVESTING IN CRYPTOCURRENCIES/CRYPTO TOOLS/TRADING CRYPTOCURRENCIES
A Great Cryptocurrency Cointracker: Altpocket.io 2

Altpocket.io is a great free cryptocurrency coin tracker that comes with direct API pulls from exchanges like Bittrex or Poloniex. It calculates your Profit/Loss and tracks your trades and combines these capabilities with social network features. Great tool – only downside is that it does not update live via API and takes some time to update.

Nice Overview: Multicoincharts

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Nice Overview: Multicoincharts 4

Multiple charts from Tradingview at a Glance, nice to have a MT4 Style chart window again.

RSI Hunter: Bookmark This Site

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RSI Hunter: Bookmark This Site 6

“RSI Hunter is an automated tool that helps you find cryptocurrencies that are signaling “oversold” and “overbought” on the Relative Strength Indicator.

RSI alone should not be used as a buy/sell signal, however it is a good starting point when researching potential entries.”

Bitcoin “Sea Monster” Pattern and how to trade it!

in TRADING CRYPTOCURRENCIES

This is a common pattern, will update article later to explain the details of why and how this technical pattern works, along with the TA explanation to help you learn how to be a TA master!

[coin-chart symbol=”BTC” theme=”dark” window=”1d”] 

The Ultimate Bittrex Guide

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The Ultimate Bittrex Guide

If you are want to buy any cryptocurrency beside Bitcoin, Ethereum and Litecoin you will have an account on Bittrex soon. Bittrex is without a doubt THE major player when it comes to trade altcoins, although the site has some major issues like their design on mobile devices. Bittrex has the biggest volume so your chances are good to get your orders filled. Oh, question marks? I see – we will take a more detailed look at the exchange and show you how to use it the right way. If you landed on this post, because you wonder what all this stuff on Bittrex means, you are probably new to trading on exchanges. This Bittrex guide shall shed a light on how everything works, so you find your way into the exchange and use it profitable. Note: You will see a slight difference between our Bittrex charts and yours when you open it. This is because we use a Chrome extension that a) displays the much better Tradingview charts over the Bittrex charts and b) shows you the USD value in additional columns on some spots. This helps to keep on track with your spendings and earnings, as especially if you are new to the Cryptoworld it is not convinient to the most to calculate everything in Bitcoin. Keep Reading

Coinigy Review – Is it really worth its price?

in TRADING CRYPTOCURRENCIES/CRYPTO TOOLS
Coinigy Review - Is it really worth its price? 10

One thing you learn fast when you step into the altcoin game is that you will see yourself registering in multiple exchanges. Here a promising coin, there an excellent opportunity – but most likely you will find all those coins scattered on various exchanges. Ok – registering here and there is not a problem, but keeping the overview over all your wallets and running trades is a pain. Even more, the quality of the UX, the charts, and processes of these exchanges vary very much, and you have to find into each of them. Some provide essential or profound tools for technical analysis, some are not, and you can be happy to have candlestick charts at all. Coinigy is here to solve that problem, and in this Coinigy review, we want to have a look if the subscription-based website is kicking it.

Keep Reading

Blood Bath Incoming – Survival Strategies for Segwit2x

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Blood Bath Incoming - Survival Strategies for Segwit2x 12

Disclaimer

This article is for educational purposes only. We are no financial advisors. Do not make investment decisions based on this informations. The information provided from Smart Options is for informational purposes only. It should not be considered legal or financial advice. You should consult with a financial advisor or other professional to find out what may be best for your individual needs and risk tolerance. Please do your own research and never let anyone trade your account for you. We do not support or advertise Fund Management in any kind of manner. We solely review signal providers, their work/analysis/provided education. Please read this disclaimer and leave the website if you disagree with it.

With Segtwit2x coming on block 494784 (likely the 15th of November 2017), alts are bleeding again. Seeing the red sea in their portfolio makes it hard for many people to hold, leaving themselves asking if they should sell (likely at loss) to participate on the BTC fork and follow the herd for the buying frenzy, dare they miss out from the move.  From a technical analysis point of view it is forming a head and shoulder pattern and many people may start to resist buying it for now. With a support line around 5.2K it might break down to 4.8k – that would be a nice entry for the run until the fork comes. So what to do? Watching the blood bath and holding altcoins for a possible retracement, wait for the dip and get in & hold until the fork?

Keep Reading

No Moon, No Lambo, Just Hodl – The Psychologicial Anatomy of Shitcoin Trading

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No Moon, No Lambo, Just Hodl - The Psychologicial Anatomy of Shitcoin Trading 14

Lately been on Facebook? Telegram? Reddit? No? Any other social media platform? Surely you are subscribed to a discussion group on any platform to satisfy your needs for juicy crypto infos.
People heard more and more about other people that made some decent money fast with cryptos and want to get in, which is no wonder – they want their part of the cake. So far so understandable, however what happens in social media is no fun anymore, it is dumb.

Technical analysis (TA) is very close to a gamble, when it comes to low volume coins. One has to understand that technical analysis relies on volume and liquidity of the markets, furthermore it reflects often the algorithms of the big institutional traders like banks or big hedgefonds – and last but not least the emotions and sentiments of the traders. That works for FX, but do that on dead shitcoins and you are going to be burned. But also coins with volume in crypto trading rely onto emotional behaviour to a a high level and are therefore hard to predict, maybe a bit like your girlfriend when she gets emotional. You know her, yeah, but the reactions tend to be differently from what you expected.

Look, this coin floored since days, consolidated very deep – it MUST breakout!!!One!11!!!

Yes, likely to break out south, though – as the rest of it is rare holders recognized they have some capital bound onto a dead fish and want to get at least something out. This is also one reason why it is dumb to say HODL on each and every coin. “I have 10k dodgecoins, what shall I do?” Reply: “HODL!!!!” – Heck, no – you should not HODL a dead coin, this makes no sense.  Let’s be honest, it often happens like this:

Facebook Group participant Fred :

$ASScoin is going to moooooooon sooooooon. Very good whitepaper, I read all the details, great team with many *vic -ending names, fantastic tech, so complicated I don’t even understand what it is about. Hop on, this is gonna be a $10 coin easily in a few month. #lambo #moon #hodl

Newbies are reading it, desperate wannabe-overnight-rich action takers are reading it and a fraction of them will comment it – many will just buy silently, not doing any research at all. Why taking the effort, Fred has it already done and vouched for it. Hey, he has 1k facebook friends, can’t be wrong at all. Despite the low volume of the coin and the many groups Fred has posted this, they generated a little spike on $ASScoin. Some recognize what’s going on and sell of again quickly, feeling dumb, but ok, just a few dollars in fees and a bit of rate loss. Others though are still waiting for $ASScoin to skyrocket, having $50 in it, the order form of the lambo dealer is pre-filled already – but nothing happens. Now all these people sitting in reddit, forums, facebook and telegram groups seeing an other follower of Fred asking

Hey, whatcha all think will $ASScoin moon soon?

The question hits the 30 others, that bought $ASScoin as well, some maybe with more significant money, some might have thrown the kid’s college money or their pension on it.

YES, just HODL, HODL FOR YA DEAR LIFE, MOON soooooooon, then lambo for everyone. HOOOODDDLLLLLLLLL I am all in! CAN’T go wrong!!!!!1111!!!!!!!! It is only a loss if you sell at a loss!!!!11!11ONE!! It is at discount rate right now!!!!! I am selling my wife, the kids and my kidney to buy morreeeeee!

Seeing this kind of dedication, the newbies just don’t want to be the noob that sells at a loss and holds tightly. Even throws some extra packs on it, but waits and waits and waits. No moon, no lambo, just hodl. The thing the newbie has fallen for, was the dream, the emotion of another one. Everyone can publish everything in the internet. There are many reasons why you will find wrong informations within cryptoverse:

  • Newbies, that want to appear as Pro seeking to get attention
  • Wrong TA (Technical Analysis) applied
  • Correct TA applied to no volume charts, bad price action
  • People actually trying to convince themself, that their decision to hold is the correct one. Sellers are weak hands, only hodlers are right, generally speaking
  • Paid advertizers posting to groups to push ICOs
  • People want to push their held shit coins
  • People spreading myths / beliefs that they just overtook from someone else
  • Pump and Dumps

It is all about the strategy you use and not to fall for experienced traders, exploiting low volumes for pump and dump actions. First at all we need to have a differentiated look at what you do with your money. Decide if you want to invest or if you want to do day trading.

Investing

You do your research on projects, allocate a defined percentage of your funds to the project and buy tokens for it. First think of how many projects you will be able to follow in the long run. Subscribe to their social media channels, their website rss, their github. Let’s say you think you will be able to follow 5 projects, so you split your total amount of funds by 5 and use each portion for one project you want to invest in, by buying their tokens.

Before you buy anything you want to do your research, a basic overview can be achieved by asking these questions:  1. Which problem does this project solve? And has it realistic chances to do so? 2. How is the realisition of it, is there something done already like an existing MVP? 3. How is the github activity? 4. How is the team? 5. Is there an actual use for the token itself? You can go along with the very detailed and good methodology of Cryptohydra. Then you put a % of your allocated money into it and simply forget about the price of the coin, just follow the news of the project to check if it is doing any good. Alternatively, if you want some more action, you can create a portfolio and check the price development. Once you see a 100% increase you could withdraw 50% and leave the rest in your wallet. These 50% can be used for new projects you like to invest in. So you diversify more and more over time. Diversification is key if you want to grow your account hands-free. Theoretically speaking, you spread your money over promising projects and hope that some of them skyrocket, compensating the loss on others with profits.

Trading

If you want to do day trading on coins / tokens, you want to be extra careful. Technical analysis might help on coins with volume like  or , but will give you rarely reliable informations on $ASScoin.  Be prepared for a long and painful road, if you want to learn it. However, it is advisable to learn some basics like support & resistance to find good entry points for investing (like in the prior paragraph) to optimize the outcome. If you want to take a deeper look into daytrading Coinigy could be a first step into learning it.

Some words I found on Bitcointalk. Obviously I don’t agree in every case with it, but I found it entertaining enough to share:

I type d that tyitle twice because I knew it was wrong the first time.  Still wrong.  w/e.  GF’s out at a lesbian bar, BTC crashing WHY AM I HOLDING? I’LL TELL YOU WHY.  It’s because I’m a bad trader and I KNOW I’M A BAD TRADER.  Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro.  Likewise the weak hands are like OH NO IT’S GOING DOWN I’M GONNA SELL he he he and then they’re like OH GOD MY ASSHOLE when the SMART traders who KNOW WHAT THE FUCK THEY’RE DOING buy back in but you know what?  I’m not part of that group.  When the traders buy back in I’m already part of the market capital so GUESS WHO YOU’RE CHEATING day traders NOT ME~!  Those taunt threads saying “OHH YOU SHOULD HAVE SOLD” YEAH NO SHIT.  NO SHIT I SHOULD HAVE SOLD.  I SHOULD HAVE SOLD MOMENTS BEFORE EVERY SELL AND BOUGHT MOMENTS BEFORE EVERY BUY BUT YOU KNOW WHAT NOT EVERYBODY IS AS COOL AS YOU.  You only sell in a bear market if you are a good day trader or an illusioned noob.  The people inbetween hold.  In a zero-sum game such as this, traders can only take your money if you sell.

Bitcoin ALGO sell update, OUT OUT OUT!

in TRADING CRYPTOCURRENCIES
BTC SELL
BITCOIN SELL

Disclaimer

This article is for educational purposes only. We are no financial advisors. Do not make investment decisions based on this informations. The information provided from Smart Options is for informational purposes only. It should not be considered legal or financial advice. You should consult with a financial advisor or other professional to find out what may be best for your individual needs and risk tolerance. Please do your own research and never let anyone trade your account for you. We do not support or advertise Fund Management in any kind of manner. We solely review signal providers, their work/analysis/provided education. Please read this disclaimer and leave the website if you disagree with it.

We have completely exited all of our bitcoin holdings and even some of the ALT follower coins, such as ETH, Litecoin and a few others that joined BTC in this last major up move from 4679 to 5800! We will look for a price decline back under 4700 now before attempting to buy again. Often on the FIAT side if a currency moves much beyond a resistance point like the 5,000-4679 area as Bitcoin has done, it will retreat with just as much and often more ferocity once the momentum peaks, kind of like a bullet shot up in their air hitting terminal velocity before it curves back down. Per our own rules we will wait till around the 1st week or so in Dec or so, as this is the likely statistical pulse move that my ALGOs compute for buyers to start again. As long as we are in this red block on a time basis that you can see in the above chart, selling should be the strong actuator in price behavior moving forward. Though again my ALGOs are being recalculated in time in this very new dynamic field of crypto currencies, as these new babies of price which do not have large institutional participation and histories on which to compute solid data models on, could make prediction a rough ride! In the mean time we will plug in the data and see how it turns out doing our best to profit with the ALGOs computations as they stand. Remember bitcoin even if the originator in this market is still fairly young and emotional wide price swings with a high degree of seemingly random action might be the norm for some time to come. We will work on trying to find the best and most profitable data in order to grow our capital in this new and exciting field. Hope and prayer are generally the mark of newbie traders, but in this case we might need it! LoL 🙂

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Thank you, Darling! Let's stay in touch so we can feed with more Crypto frenzy!