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What are some cryptocurrencies trading tricks? I trade on B

Feed-Creator-559cd23ba · 2024-01-01T11:58:31.000Z

What are some cryptocurrencies trading tricks? I trade on Binance, I’ve made & lost a lot of money over the past couple of months, here are my strategies (in random order). First: Buy the dips. The problem is knowing if it’s a dip or a larger downtrend. Most crypto has a natural peak & bottom typically on a daily basis. Second: Don’t chase breakouts. So you’re in your exchange, surfing trends - and BAM! You see one skyrocketing. Your natural impulse is to buy this shooting star. Then 2 seconds later it crashes & takes you with it. Third: Never Buy Peaks. If you absolutely can’t resist the urge to buy a coin that’s increasing in value, at the very least NEVER, EVER buy when the green line is close to being vertical. Fourth: Trade against USDT pairs. This isn’t set in stone, but when you trade against ETH or BTC, there’s natural movement on both sides of the pair. Fifth: Trade coins with volume. The higher the trading volume, the more predictable trends will be. When you’re looking at alt-coins, try to find ones that have a significant trading volume. Sixth: Long-Term Coin Fundamentals Don’t Affect Short-Term Trades. You’re going to meet a lot of enthusiasts for XRP, XML, Cardano, ZeroX, etc. Seventh: Daily News DOES Matter. I subscribe to CCN and a few other crypto news sources, and when a big story comes out it does affect coin value. Two months ago, a cluster of news stories drove XRP from $2.60 to $4.68. Eighth: Coin Hype Is Bullshit. You’re going to read a lot of hype from long-term holders trying to boost their coin’s value. For instance, Justin Sun and his army of TRX advocates keep blogging about why it’s supposed to be amazing. Ninth: Ignore The Mainstream Press. I see stories about crypto “crashing” on a daily basis, which in turn inspires FUD in traders, which in turn causes crashes. Tenth: Know when to walk away. If you’ve been trading for a couple of hours, you get tired, your reflexes can go to shit. #TradingAdvice #TradingMastery #investingtips #InvestingInsights #CryptoScoop

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