Hi guys,
I just start to trade altcoins since the start of March 2016, and currently I only have a few knowledge of how to understand the markets behavior.
What I know now? First is reading the candlesticks bar which shows whether it is a dump or pump. I currently going for low amount of coins in CCEX and Poloniex as they can give me better returns. What am I doing is a short-trade, buy 60 sell 62, depends on how fast others react.
But when chatting at Poloniex, MODS always remind me that I must research, to be honest I don't know where should I start.
So I tried Googling, understanding the altcoin market and get a few knowledge how to understand the basics.
My question is, when this guys tell me to do my research what does it exactly mean? Can you give an example so a newbie like me that never been in programming and trading before could understand.
Thanks guys, and I will be keeping in touch.
I just start to trade altcoins since the start of March 2016, and currently I only have a few knowledge of how to understand the markets behavior.
What I know now? First is reading the candlesticks bar which shows whether it is a dump or pump. I currently going for low amount of coins in CCEX and Poloniex as they can give me better returns. What am I doing is a short-trade, buy 60 sell 62, depends on how fast others react.
But when chatting at Poloniex, MODS always remind me that I must research, to be honest I don't know where should I start.
So I tried Googling, understanding the altcoin market and get a few knowledge how to understand the basics.
My question is, when this guys tell me to do my research what does it exactly mean? Can you give an example so a newbie like me that never been in programming and trading before could understand.
Thanks guys, and I will be keeping in touch.
They remind you to research so if you complain you lost your money because the coin tanks, they can say it is your fault for not doing your research.
If you watch the markets , you can tell the majority of investors do not do any research, they just pump a coin and when sufficient people have buy orders beneath their pump , they dump making a profit. Because when you do research a coin and you see that its wallets have no active connections and is basically dead, it price can still skyrocket.
So buy low and sell high in small increments , if all you want to do is play day trader.
Pumps & Dumps will not necessary show up in research , so don't waste time with it.
However if you do your research and find a coin you do believe in, then you keep buying it no matter what shenanigans happen on the trading market.
For me that coin was ZEIT . (Going to Change the World, IMO )
Back to your original question.
Where can you do research?
Read the Coin's Forum every day, keep at eye on CoinMarketCap, and keep up with coin news on internet sites.
Oh , and keep a local wallet , even if it is only to check and make sure the coins has not died on you.
(Just remember a dead coin has never stopped a trader from Pumping it.)
Good Luck.
