I don’t have any answers for you. I’m probably going to hodl, just because I’m bad a timing the market. Although selling/rebuying at the right time is obviously more profitable.
Yes, because the only thing that matters is gaining the “main coin”. If you are in for the short term, then I guess you can ignore BTC or maybe ETH (if they are stable for your cash out process), in order to trade your alt for cash quickly before BTC/ETH moves around a lot on the charts. But otherwise, BTC and ETH are like your fiat. That’s how I view it. Depending how volatile ETH and BTC is depends on which I use for swing trading and buy-ins. I use LTC and ETH for moving into binance though.
Why what? Why are you going on with the questions? What’s your point? I explained it as clearly as I can. If something is “obvious” to you it may not be to me. Yes, everything has been explained to me. And so what? Humans learn through experience, not other people’s advice.
Not at all an issue. I’ve read so many strategies, from the simple to the complex, and thought maybe you implemented something based on a fiat/alt observation or pattern rather than BTC(or ETH)/alt.
Sometimes things that seem like simple lessons are more complex. It’s like doing squats or deadlifts. There are a thousand little technique improvements for what seems like a rudimentary motion humans can perform every day, with what looks like from the outside, no real thought. Trading feels the same to me.
Yes, it’s like driving. Someone can explain to you how to drive a car, but it only when you do it yourself you really begin to learn. Same thing with crypto and trading. You have to be in market, doing trades before you really start to understand how it works. I’m learning a lot going through this crash. Made some mistakes, hopefully I will not do so again.
For sure. Any immediate plans with your portfolio? Do you like to get all out into BTC (if you day trade/swing at all) or do you hodl?
I just didn’t have a useful strategy before, I think. But I’m building one now. In the army, the generals make the strategy, because they have the experience. You don’t ask someone who’s just enlisted to draw up the plans, lol. However, that is the reality when you start in crypto. You just don’t have the experience.
For now, my plan is to probably to hodl. I have experimented with trading, but I’m not any good at it. And I don’t trust someone’s chart on the internet. Especially when there are charts out there showing BTC going in totally opposite directions.
I think we are in the same boat. Classic case of to early for the next party and to late for the last one. Cleaning up the last party sucks and then just waiting for the next one to start…
I came in after reading and thought I knew what was up till the market turned…it easy to play a bull market but damn this bear is a mean bitch. I find it funny guys who are have green portfolios telling green traders who are in the red what was obvious. It seems obvious now I guess…but without first hand experience one can never know
Good call. It’s so speculative. My philosophy is when it’s moving down, it’s moving down, and when it’s moving up, it’s moving up. I just try to get in on the relative beginning of the swing trades, top and bottom, not absolute bottom or top.
One of the first things you learn is to do your own research and not follow others. Well this is our research. If we had listened and sold and it went up more who would we blame?
Waiting for it if it goes down or a break out. If it goes up i won’t sell it and if goes the other way around going to take that sweet 600$ gains and buy on a lower price again.
Can I ask at what point you decide to sell? When you see a red candle starting…and what do you do if then it goes above where you sold very quickly, do you just risk taking a loss and buying back again if it continues up? I keep messing this up, and just thought I’d ask…sorry for the noobie questions
I buy when this three things or indicator are perfectly alligning. Meaning it’s oversold on the RSI and the MACD is about to cross.
And then sell when i’m contented of the gains i will get or when my original selling price prediction will be achieved. I don’t randomly buy but i don’t randomly sell either although selling for me is kind of situational in a sense that i try not to be so greedy. Every trade we all do is taking a risk/loss you just have to live with that demon that your money is considered lost when you start.
When BTC continues to go up and i already sold my BTC into tether then i always look for other coins that will be on an advantage of rising up soon or i hold my tether till it goes down on a comfortable buying point.
Note : Don’t worry keep learning we both are noobie still
Copying people that are more smarter than you is better than trying to be smart and fall on your face, this is what i always say to myself.
move to the 4 hour chart…always one of the first great trading lessons
Thanks for the info, very useful. So what if you are trying to sell with the intention of buying in lower, you do the exact opposite? : look for it being overbought on the RSI, and MACD crossing the other way?
I dont want to get into day trading really, but I just want to work out how to sell if there is a long bearish move and get back in cheaper. Its too painful to buy high and watch it continue to fall for weeks like recently! There were plenty of chances to get out before, but I just havent been skilled enough to make it work!
I tend to swicth between the 4,1 and 15. Do you use the 4 hour even when looking for the moment where the tide turns? Seems a bit too zoomed out
2 hour is also good and clean
i will look at 45 for divergence, 2hour is clean to follow. Im not sure your going to catch the tide on the 15…you will be going in and out all like a pedelo in ibiza.
Try Ichi Cloud. Its a great indicator, everything is on there.You can have a glance walking past and have an idea where everything is.It looks messy but it isnt really.
Ha thats what I have been doing! Sorry what do you guys mean when you say its clean?
Also, to get MACD, RSI in trading view, do you have to pay?