You will become a success
Economy Trading Psychology

Top 5 tactics when trading cryptocurrencies

This five tactics will help you to be a better trader when you have learned to use them. It is what I primarily use most of the time to create an income from cryptocurrencies.

First tactic

Hold

Holding the coin is sometimes good, but is to be done with care because some coins never recover after a downfall. But I often use the holding strategy on coins that have fallen below the price I have purchased it at, and I of cause still see a potential for the currency to rise again.

I determine the potential by looking at how much of adoption is there, how does the technical side of the coin look, and is there a continuous development in the core or around the coin. With this, in minded I determine if I am holding. There is no reason to hold coins were you don’t see a potential for a rise in price.

Selected for you
Grow your business by accepting cryptocurrencies such as Bitcoin

Second tactic

NO FOMO

A tactic  I use when I see a coin going towards the moon. You can either buy or do nothing but you need to act quickly, if there you should profit from the bull run, and it is not necessarily profitable to go in on all bull runs. Especially if you get caught in someone else’s “pump and dump,” so in short not giving in to your fear of missing out can sometimes be better than buy buy buy.

How I decide if I am going to invest or not is actually a simple process, when the coin goes on the quick bull run, I ask my self, does I know the currency well enough to invest, if no I stay away, if yes I move on. Is It a possible short “pump and dump” if yes stay away, if no I move on to the last question, did I consider to invest in the coin before the quick price rise if yes then buy buy buy

Third tactic

5/100

This is a simple starter buy-in option it has giving me profit over a 24 month period after I adopted this tactic, but it may not always provide a profit.

The method is to take 5 dollars every month and invest it in the coin at place 100 on the market capitalization chart. Some of the coins will never go up, but then again it is only 5 dollars.

Selected for you
Who is Naval Ravikant

Fourth tactic

Trends

A tactic I often use when I usually trade, I analyze the market look at what the overall trend has been over the last month watching for a sudden change, when you look in top 100 you will typically be able to see a pattern of the coin going up or down. And the trend will many times continue in the cryptocurrency market, but as all other markets trend’ can turn faster than we can react to, so make sure you keep an eye on the market, and when I trend spot I will never buy when price is on the way down I wait until it turns green for more than 24 hours, and if it goes quickly I look to the NO FOMO tactic

Fifth tactic

Believing

In no way a tactic that show good judgment, but I will at times invest in a coin just because I think the project looks promising, I have made good money on this tactic but it requires a great deal of research, and sometimes it is not the significant profit you receive, and you can get a wallet with useless coins. But I think with excellent knowledge about the project, you can form an informed opinion.

And remember to read our disclaimer. Besides that, it is essential to do your own research and form your personal opinion.

BullGuard Internet Security

The Golden boy
I have a long background in cryptocurrencies, I first heard of Bitcoin back in 2011, did take much notice of it back then, but as time went on, I have got more and more into the idea of a decentralised economy. And have slowly accumulated cryptocurrencies since around 2013, since I didn’t have a lot of money at the time I started slowly. I thought of it more as a statement than an investment. It is first in 2016 I began to see how significant a potential there were in bitcoin and other cryptocurrencies.

Leave a Reply