This section would Talk about The latest Crypto Trading Resources
Trading volumes of cryptoassets are exploding. More Bitcoin is traded daily than Apple or Amazon stocks. How to leverage this phenomenon into trading profit? This section would talk about how exactly you can recognize the chart patterns, support and resistance and armed with the right news, make that trade which has a very high probability to win.
Cryptocurrency trading has got a very high advantage compared to the Stock or the FOREX Markets. This is a market that is just started to evolve and is unregulated. That means there is varying price difference between exchanges which again is justified on the economics of that domestic market. Which means a lot of arbitrage opportunities exists here.
Anyways in here I’d just like to focus on what i learn about (General Crypto Currency Exchange / Trading ) and try to document it as much as I can so that you also can make use of that data.
Compare Coin Price Table: This is our own section where the latest prices are updated real-time from the major exchanges.
Cryptocurrency trading tools
Coindata.IO is a cliometric based trading tool with several great features that other apps don’t have. On the contrary of Forex trading, in the Bitcon / Altcoin world you can see trading volumes on the exchanges. Why volume matters? You can see the whales’ trading intentions through the volume they trade: buy / sell walls appearing / disappearing, preparing to pump or dump the actual coin you trade.
Cryptocurrency Charting tools
GOLDEN RULES OF TRADING
- If you are new to trading then always go with the trend of the market as its always a safer bet.
- Try to mostly stick with the trend till you have enough experience to recognize the definite patterns of reversal.
- One needs to have a lot of patience and wait for the right patterns that gives a much higher probability of winning the trade.
- Never risk more that Two percent on any trade. If you do that, then its no more speculation but infact gambling, and then its just a matter of time for bankruptcy.
- Never revenge the market, by taking an opposite position or by increasing lot sizes and waiting for the markets to turn back.
- Never take a trade unless you get that clear indication and patterns that has a high probability of winning that trade.
THE WHALE WAY OF TRADING
- An Emotionless way of trading by understanding the sentiment of the market using latest market News.
- A basic discipline or rules that is not violated when it comes to trading. Discipline is everything, and specially in a highly speculative environment like this, its does take a high level of discipline to stick to ones grounds.
- A trend means that that particular instrument is at a minimum of 45% incline or decline.