Post
Topic
Board Altcoin Discussion
Re: Tip and Tricks about when to buy or when to sell?
by
SirLancelot
on 15/02/2023, 12:21:50 UTC
Hello,
I know that trading requires knowledge, but any tricks for newbies about when to buy or sell? For example, looking at the volume, looking at the queue for buying and selling and etc.
Sorry if my question is not a good question.
There is no such thing as a bad question so don't hesitate to ask here. I am also not an experienced day-trader or something like that so for me it is also pretty hard to tell when the perfect time is to invest into a project, but i would also guess that no one really knows the perfect time for that. All we can do is guess. There are a few indicators though, that can give you at least an indication where the price of a project might go soon. You can look at the order book for example when you are using centralized exchanges like Binance, Kucoin and so on. If the buy side is way bigger than the sell side, then it is very likely that the sell resistance will be broken soon and that the price will rise.
Of course there is a bad question but that isn't the one that has been asked by the OP. Experienced or not, we all have a difficulty when deciding to sell and buy but there is a general rule that everyone is following and that is to buy low and sell high. This is easy to do and this doesn't require a good knowledge but a simple common sense can be enough already.

You said you are not an experienced trader but I see that you gave a pro tip there. This and the other tips that users gave on this thread are surely going to be useful for the OP. Not sure if this is already given but another tip that I know is to buy the rumours and sell the news. It's name says it all, on how to initiate it but the OP can research further about it.