I recently started to focus a bit more on to become a day trader on various crypto exchanges. Like everything where there is money involved (Sorry Tokens) involved it is quite stressful yet very exciting.
Please note that I cannot and will never give financial advice as I am a novice at trading. As I mentioned above, I only recently started focussing a bit more on this. I did take a dabble into this environment, but I just became too busy with other things and my focus shifted.
A few of my friends are however traders and I am trying to learn as much as I can from them. A good friend @robertm, are a very successful business man, and have a great understanding of economies. Please follow him. He has mentioned many times that there is no real difference than the real world economies and the crypto world. Nothing is new in this environment.
BTC vs BCH or Bitcoin Cash.
Due to the fact that Bitcoin is at an all-time high, most of the altcoins including Steem are taking a real beating. I guess it will correct later when Bitcoin stabilises. I did however notice this morning that Bitcoin Cash is o a bit of a run. My timing was not too bad and I bought a few tokens on an exchange. I am not playing with huge amounts, (0.5 BTC) but the great thing is that I made close to 5% on my trade for the day.
I must say if I can do close to 5% every day, I will be able to sustain my trading habits on a full time basis.
Margin Trading
Due to the fact that we are in a bear market on Altcoins, I learnt from a friend yesterday about Margin trading. This is mind blowing, when you are new to trading. For those that do not know Margin Trading, it is quite interesting. The brass tax is that when you market trade, you are actually trading with somebody elses tokens :) You sell these (borrowed) tokens at a specific price, and as the price of the specific altcoin drops, you buy back the amount of tokens which you sold at the higher price, and return these tokens to the pool. The good thing here is that you make your profits as the altcoin drops. This is quite amazing if you think about it.
Well, let me get back to the excitement for the day … you never know if there is another 5% to be made for the day.
Happy Steeming!
Quite informative, though I would have liked you to shed a little more light on the margin trading concept. I would have to do some more research in order to understand it better.Thanks however for drawing my attention to it.
I'm curious to learn more about margin trading. What platform do you use to margin trade cryptos?
Hi @pbgreenpoint. I am using Poloniex ... Just go to the Margin Trading Option next to exhange. They have a nice explanation there as well.
Thank you very much :)
Nice! Got Good Info There Buddy!
Playing With Huge Amounts Can Always Be Risky. Beware Minnows = )
Very informative post.....lot of knowledge to be explore..!!!.
I am going to share the greatest trading system ever created.
Hold Bitcoin.
Amazing isn't it?
It is indeed :) when it is a bullish run like this :)
:D
30 days ago I got in on BTC, bought 0.87 BTC which cost about $4800 Canadian dollars, if I had held that and done nothing else, today I would have $8,000 Canadian dollars worth of BTC. You are so right, buy BTC and HODL!
Trading is great if you get a few great pics, but my experience has not be lucky, Ive bought too late in some instances and too early in others, and as they say "early is just as bad as too late".
Good luck in the crypto world and have a great day.
Thanks for the comment @infidel1258 I hope BTC grows and grows and we all make some cash :)
thats good keep going
Thanks for sharing this high quality content with us !
Appriciate that
thanks my dear.... this is a very prograssive and educative post.again thank u very much.
Hey @jacor
Did you try scalping trade ?
Specially now with BTC volatility it's pretty intense =D
In and out on 30 minute time frame, you can do +5% easily
Hey @jlcrypto, sounds interesting, how does it work? Can I do it on Polo or Bitrex?
Both could work yes but best on Bitfinex
You need a platform very reactive
All indicators on short period (3-5-13) and Time chart 1/3/5 minutes
With Fibonacci retracements to check support and resistance line, and trend line long term to form a triangle
You make sure the direction of the trend and then you try to enter and out at the best time
Check @cryptopassion , his analyses are very accurate and helpful
Let me know =)
Thanks very much @jlcrypto, I will definitely check it out :) Found a nice website with a nice explanation :) I am following both you and @cryptopassion now :) .
Ps: I did 177 Skydives all over Europe a few years ago... What an experience !!!
Thank you so much for the support, much appreciate it =) =)
Awesome for the skydive mate ! 177 mamamia !
Are you still feeling the adrenaline when you jump from the plane or not anymore?
NZ is described as one of the great place to jump from the sky =)
I haven't jumped for many years, but you cannot explain the adrenaline rush to anybody that has not experienced it :)
It is still one of my bucket list items to visit NZ and watch an All Black vs Springbok game ... Although I know we will probably lose, as the All Blacks is just in another class these days. And the Springboks is probably playing their worst rugby in all times due to the problems with the coach etc.
It was fantastic experience =)
I will do it again and again lol
I haven't watch a game yet but I'm planning to do it when I'm back to Auckland.
Nice to hear that you support rugby =)
If you pass by, let me know I will give you all my recommandations =D
Bitcoin is going to hit the $10,000 mark by December, this year. It's great for the king of cryptocurrency.
The altcoins have suffered serious consequences as a result of this. But there is no need to worry, as bitcoin stabilizes the altcoins are going to achieve their lost values.
My personal opinion to hold the following altcoins:
A good profit can be earned by trading these coins
Thanks for the tips @steemafia . Following you :)
That's cool to know keep us updated :)
How you guys do it well and survive the trading risk. Because if you ask me I lost almost everything trading
Going to be interesting see the alt pump, after segwit2x
That is indeed something to look forward to. :) Thanks for the comment
If anyone want to know about what is bitcoin visit https://steemit.com/bitcoin/@allishere/all-about-bitcoin
many things on classic fx-trading don't apply to crypto since its completely not based on to-the-second-world economy ... the price of the dollar versus depends on anything from the kid at school buying a pizza over noon break to the apple boss in japan buying Yen to do business there, none of that applies to crypto markets, all your classic things , pivot points and stuff (something i dont believe in either since bascially what they do is take all numerical data and go for the common denominator, regardless of how many "political periods" are in that timeframe, what disasters happened, if anyhone invented the cure for cancer, it all just gets flattened to the-most-likely-over-time ... that makes it a very dumb statistic) ... fibonacci levels always seem to do great since they have this uncanny thing like its being built into the fabric of the universe , right . If you were to believe in that i think for crypto it would only work for small timeframes and no go on a minor breakout. Other stuff ? martingale / grid theory ? if you look at bitcoin that would probably be one of the worst ... its a new science man and it hasnt settled into anything. Even buy on the dip is dangerous (especially with BTC)
but
good luck with that :)
viewed, voted, commented, and re-steemed ...
anyone follows me i'll follow back within a few days
thanks for the info sharing..resteem
I honestly consider Bitcoin as a lesser of benefit, but it has certainly given us the world, where you can find so many options with huge potential. And, one such option is Cryptonetix, it is the rising star! They are not the common and routine upcoming ICO, but much beyond that and that is what makes it so SPECIAL! I will certainly put my time into something like that which I know got monstrous potential! http://cryptonetix.com
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been said it was going to reach 7000. Bitcoin is unstoppable it is moving like a bullett train. Bitcoin cash is upnext keep an eye out. Will novemer be bitcoin cash month?
Great content, however it would be nice if u post more about margin trading ;) Thank u and bless up!
Hmmm, lets see, when btc goes up these alt-coins go down and vice versa. Sounds like you could ride one up, then switch to the other. Or, keep an equal investment in both coins.
I hope bitcoin rally continues:)
I am also a very novice trader. Currently just buying coins. I am looking at getting more into active trading and always looking for help. Thanks!