RE: How to start trading crypto currencies?

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How to start trading crypto currencies?

in cryptocurrency •  7 years ago 

This is my strategy for trading:

  • I am trading with altcoins which have more than 100 million market capitalization. (It secures me from pump and dump)

  • I did a great research on each altcoin and chose 10 to 15 which, I believe, have a real value (they are based on innovation and have a great team). These are the only altcoins I buy and sell.

  • In order to diversify risk, I divide BTC in 4 categories/groups/part and trade with 4 altcoins. I read news every day and write information that are useful.

  • When price goes down (more than a 7, 8% in a day) I go to Poloniex and look what is happening. If I estimate that there is a possibility to fell down more, I wait. Otherwise, I buy.

  • When to sell? Well, It depends on expectations. Sometimes I set up a price target (4-6%). Sometimes I wait to see what will happen and look at the numbers and charts every half an hour or one hour. If I see some decline, I do not gamble, but sell. If the price grows, than I wait more.

HOPE YOU FIND THIS USEFUL.

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