crypto trading tips:

in bitcoin •  7 years ago 

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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

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