Remember those candlestick charts we see on every exchange? By studying them, we can find indicators, and understanding what these indicators mean can help us better predict the future price of the chart. There are tons of indicators and they can take some practice to become adept at identifying. You may find it easier to focus on practicing to identify them one by one until you become comfortable with them, slowly building your repertoire until you feel you’re ready to go full boar with your trading career.
Here again, it is important considering a number of factors when choosing a stop loss level correctly. Most traders fail when they fall in love with a trade or the coin itself. They may say, “Here it will turn around, and I will get out of this trade with a minimum loss, I’m sure”. They’re letting their ego take control of them and unlike the traditional stock exchange where extreme daily movements are considered 2-3% in value, Crypto trades are a lot more riskier: in my life as a trader I’ve seen a coin dumping by 80% just in a few hours! And nobody wants to be the one who is left holding it.
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Great guide, however, I would suggest one small edit. Instead of recommending Google Authenticator, use Authy instead, it supports google authenticator 2FA and the biggest drawback with Google Authenticator is if you lose your phone, it breaks or gets stolen you won’t be able to log back into binance unless you wrote down the secret key that binance provided whilst enabling 2FA.
Read Part 3 of BTCManager’s series, ‘A Guide to Trading Cryptocurrency,’ here. In Part 4, we look at a very easy to pick up technique that, like the Ichimoku Kinko Hyo, originates from Japan. Renko charts are another Japanese technique that is easy-to-use and reliable for making profitable trades. Similar to candlestick charts, Renko charts are even easier to analyse…
We did it! We made it through all the fundamentals needed to start trading cryptocurrency. I think you might agree that each individual concept on it’s own is not terribly complicated. You might even be thinking: “This sounds really easy! I’m going to be a millionaire by Christmas!” It’s great to be ambitious about getting started, but slow your roll. It’s going to take some work to put all of these concepts together, and the only way to do it is to start trading.
One of the most powerful tools made available by the Blockfolio app is the price tracking functionality it offers. The Blockfolio app is able to deliver running price updates via push notifications directly to a smartphone as soon as a currency reaches a predetermined level, increasing reaction speed for high priority buying and selling actions when prices reach a specific threshold.
For instance, suppose you’re day trading Bitcoin and have a rule that you’ll close your position if its price hits 10% over the price for which you bought it. Bitcoin hits that marker so, like a good day trader, you follow your rule strictly and sell. But then, unexpectedly the price just keeps going up as the market continues to recognize Bitcoin’s value. By focusing on day trading, you missed out on greater potential profits.
So I decided to take a peek at github, here's what I saw 11,200 repositories for bitcoin vs 3,563 for ethereum. **for non technical folks - repositories are where developers are storing code for projects** However, you have to note that Bitcoin was released in January 2009 and Ethereum was released in July 2015. Total volume isn't the best measure, let's take a look at the languages used.
Know when to take a loss. Nothing is less fun than taking a loss, but if you are going short in BTC and you haven’t set a stop, sometimes it makes more sense to take a loss and wait for a better price than it does to suddenly start going long. The best way to know when to hold ’em and or fold ’em is some basic TA on longer term charts (I will use things like MACD on 6hr – 12hr – 1 day candles to confirm trends) paired with unwavering discipline.
The fight over whether bitcoin’s currency code should be BTC or XBT is ongoing (as of November 2017). When bitcoin was first introduced, BTC became both the abbreviation for bitcoin and its currency code. As bitcoin gained momentum and recognition, a large portion of the community asked for a better currency code that adheres to the International Standards Organization’s rules on cryptocurrency codes, mainly that currencies not associated with a specific country should start with the letter X, hence XBT.

Expect Price Spikes, Expect Corrections, Be Patient, and Stick to a Strategy: Cryptocurrency tends to make big moves in its price and volume. It is easy to get FOMO (fear of missing out) and buy high, and it is easy to get overwhelmed by FUD (fear, uncertainty, and doubt) and sell. If you miss a price jump, it isn’t necessarily time to go all-in in an emotionally charged panic. Instead wait patiently for the price to settle (which could take weeks or months) or average in or out slowly. Taking gains after the price goes way up, or making a buy after the price goes way down makes sense. Panic buying after the price just went way up, or panic selling after it went way down is rarely the right move.
Watch the Order Book. The order book (found on all exchanges) can give you a good sense of what buy/sell orders are “on the books” (sitting on the market waiting to be bought or sold). If you see a lot of sell orders at a certain price and want to sell, you may aim to sell under that price. Likewise, if you are waiting for the price to drop to buy, look at the distribution of other people’s buy orders. Just watch out for artificial buy walls and sell walls (large orders that aren’t meant to fill). You’ll almost always find buy walls and sell walls at support and resistance levels.
There are lots of studies about emotion in trading. Fear of missing out, greed, etc. are very common causes for people to make mistakes while trading. No matter how experienced you are, you will eventually be led by emotions and this might make you lose money, so you have to prepare yourself to do it as little as possible and to control yourself better or you will lose more than win.

One of the things to know here is that cryptocurrency exchange is not part of the regular stock exchange. They are not the same as Wall Street and its exchanges, although they share same general mechanics. The number of best platforms keeps growing as the market is still forming, here is a top 5 list of cryptocurrency exchanges ranked by trading volume.
Crypto exchanges no longer serve a small community of early adopters, but an entire market of crypto enthusiasts that just can’t get the level of service they are looking for when trying to exchange cryptocurrencies. Introduced by the same people who brought AAATrade to the world of CFDs, CryptoExchange is a relatively young cryptocurrency exchange that has gained popularity among crypto enthusiasts these days. The platform aims to resolve the hassle associated with the slow approval process and poor customer support that characterizes traditional exchanges.
The problem with this approach is that once you sell, you’ve actually lost money (you don’t lose until you sell), and while in some cases, cutting your losses does make sense, most coins will bounce back in days, if not hours, and then the same people, seeing a surge, buy back at higher prices, only to repeat the cycle. Buying high and selling low is a one-way ticket to going broke.
With the KuCoin exchange, you’ll also get an is an easy, hassle-free experience along with different popular as well as rare cryptocurrencies such as DragonChain, IOTA, etc. If mobile apps are your preference, you can trade on KuCoin easily as it has apps for both Android and iOS. In order to go ahead with trading in KuCoin, you can deposit any crypto initially and start immediately. In terms of fee, KuCoin also takes 0.1% per transaction, half of which can be taken by you through the unique dividend system offered by the exchange.
It’s human nature to be cautious at first and then progressively relaxed, even reckless. My observations suggest that it is best to behave in the opposite, counter-intuitive way: commit yourself to the market with reckless abandon in the early days, and then start the scaling out process, applying the brakes and get the hell out when it appears to be the later stages.
Cryptocurrency exchanges are websites where you can buy, sell or exchange cryptocurrencies for other digital currency or traditional currency like US dollars or Euro. For those that want to trade professionally and have access to fancy trading tools, you will likely need to use an exchange that requires you to verify your ID and open an account. If you just want to make the occasional, straightforward trade, there are also platforms that you can use that do not require an account.
Once you have narrowed down on cryptos with high daily trading volumes, focus on their historical price movements. The best way to do this is to use a financial ratio known as the Sharpe ratio.  Don’t worry about calculating it, since you can easily find it online.  The Sharpe ratio measures the potential return of an asset based on its volatility.  Figures higher than 1 are usually a sign of an asset with high potential returns. Given that cryptos had a stellar year in 2017, most of them have a Sharpe ratio of higher than 1.  Therefore, for you to make use of this ratio, narrow down on cryptos that have the highest Sharpe ratio relative to the rest of the market to Profitable Cryptocurrency Trading
Bitcoin is different than any currency you’ve used before, so it’s very important to understand some key points. You can use them to send or receive any amount of money, with anyone, anywhere in the world, at very low cost. Bitcoin payments are impossible to block, and bitcoin wallets can’t be frozen. Actually, the Bitcoin network is unstoppable and un-censorable.
The reader is likely the sort of person that reads up on investing but most people who enter markets do so without reading a book. They invest like the old pilots of early flight. They just get in the plane and take off and then figure out what to do next. That is not often going to end well. The legions of crypto traders and investors are simply not doing their homework in the same way as dotcom investors hadn’t got a clue about the technology they were investing in or about the market itself they were putting so much of their wealth into.
Keep a critical perspective on the data that exchanges are providing you: technical analysis is only as good as the data it’s analyzing. When looking at volume numbers, for example, ask yourself: What’s the source of this information? Has it been validated? Could other factors be skewing the number? Beyond just looking at the numbers, it’s important to understand the meaning of those numbers: what they imply, and what biases could be influencing them.
In 2015 and the beginning of 2016, when Bitcoin held solid – as solid as Bitcoin can be – shuffling around $300 per one BTC, the game was trading Altcoins in order to gain more Bitcoin. It was expected that Bitcoin would grow higher in the future (the Pygmalion effect). Having a rather volatile base asset, such as Bitcoin, raises our need to compare our portfolio performance both in terms of its Bitcoin’s value and its dollar’s value. Many traders decreased the number of Bitcoin they are holding during the past year (hey, and it wasn’t hard when Ethereum got cut 70% from its Bitcoin all-time high…) although it had a nice dollar yield. Bitcoin’s growth made a lot of money for the crypto market, causing its total market cap to increase 30 times during the last year! As traders, it is important to keep Bitcoin as your base asset, but also not to forget the dollar value, and to take profit sometimes. You should always see the bigger picture – crypto is only one tier of your investment options. There are also the stock markets, real estate, bonds and many more investment opportunities. It is important to spread the risks among the crypto portfolio, as well as in the whole household investment portfolio.

Let’s say on January 2, 2017, you owned $1,000 and exchanged it into euros (EUR) with another market trader at a rate of EUR€0.9565, leaving you with EUR€956.50. Then, on November 24, 2017, the value of the US dollar had fallen from EUR€0.9565 to EUR€0.8380, so you decide to exchange your euros back into US dollars. After finding someone willing to sell their US dollars for your euros, you carry out the exchange at the new price. Your EUR€956.50 is now worth $1,141.40, leaving you with a profit of a little more than 14%.
Trading strategies have been practiced since the first human civilizations formed. This means that even though we have converted them to our current trading market, the basis of everything is still bartered trade. What are we trying to say here? We’re trying to say that no matter what the strategy is; the main point of following one is to make a profit.

Litecoin, like all major altcoins, has depreciated substantially against BTC. This decline has been precipitous and nearly monotonic since May, with even the slightest corrective rally sold off immediately. However, we may find solace in the fact this pair appears to have found footing around 9070, which appears to be a very significant level of support. In the ...

They can also be expensive. Whilst there are many options like BTC Robot that offer free 60 day trials, you will usually be charged a monthly subscription fee that will eat into your profit. They can also be expensive to set up if you have to pay someone to programme your bot. On top of that, you’ll need to pay to have your bot updated as the market changes.
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