In this post I’d like to share some strategy tips for Bitcoin and altcoin trading on coin exchanges on the internet. With these strategy tips for better altcoin trading you can increase your profits on the trading exchanges.
For a better Altcoin trading on altcoin and crypto exchanges, it is important to consider the following altcoin strategies when choosing your altcoins, to maximize your profits:
- The technology of the blockchain was supposed to solve a real problem, because so far many coins have no previous benefit for humanity.
Ideally, the coin is already common on many exchanges, is relatively new and still has a low trading price.
- Spread your investments across multiple concepts, including digital currencies and blockchain technology tokens (diversification).
- You should be concerned with technical chart analysis. Not because it could predict prices, but because many traders pay attention. Thus, all the rule of chart analysis by the great attention also have an effect (self-fulfilling prophecy).
- For maximum security and high profits, there is a simple rule: Sell at 100% price increase 50% of your coins. So you have liquidated all the costs again, you can invest in another cryptocurrency and still have the now free investment active.
- To trade altcoin arbitrage, you should use automatic trading bots for bitcoins and altcoins.
- You should generally sign up for several altcoin exchanges in order to trade more coins and to benefit from many new releases.
- You only make profits if you actually sell coins. So it is necessary to say goodbye to your beloved coins with profits, even if it is so difficult.
- In order to protect profits from a crash, it is important to make payments to your real money account again. As a basic idea for 10,000 EUR invested capital, one could pay each month 2,500 EUR of the profits. Then you would have after 4 months only net profit with which one acts as altcoin trader.
- It makes sense to learn profitable trading strategies from a book like the altcoin trading guide introduced by bestbitcoinexchange.net.
Positive Factors Influencing Price Charts
- Sometimes influencers from the scene recommend certain coins. Since these big names have many followers, the price of the coin usually goes up steeply. The early bird catches the worm here.
- If a large mining service includes a coin in the program, the price usually rises too fast.
- If a crypto concept with a real online version for end customers goes online, that’s a very good sign.
- As soon as a new coin appears on a big stock market, you should look at it closely. Mostly there are huge increases after the first corrections because there are now many more buyers for the coin than before.
- If behind the Coin is a capital company of a genuine stock exchange with real business model, that is doubly good. First, because the company has access to conservative capital. Second, because sales are already generated. A nice example is the new Naga Coin.
- With these many numbers, every human being can make mistakes. Therefore, every transfer and every trade should be checked twice or better four times (Double Check Twice).
- Between exchanges and wallets you should always send money in ether, because it is faster and cheaper than sending bitcoins.
- On the stock market, you should ideally trade in Bitcoin, as the spread is lower and the trading volume is higher.
- It’s good to practice with Altcoin Trading Software before you start. The Altcoin stock market hitbtc.com has a very good demo trading software.
- Also spread Altcoin trading on multiple exchanges to protect you from hacking attacks.