CryptoCurrency Trading Training

Discussion in 'CryptoCurrency' started by Michael, Jan 2, 2018.


  1. Michael

    Michael Staff Member Administrator UF Member

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    In this thread, I and other CryptoCurrency traders will teach you the basics of crypto trading.

    Note: This thread is about trading altcoins with Bitcoin for profit. You can make money and also lose money. This is a better version of forex trading. I call it the new cool :)

    Note: Do yourself a favor and read everything including the external links on this first page. Failure to do this is a time bomb.

    Go through this thread Understanding CryptoCurrency - What It Is

    Cryptocurrency exchanges are businesses that allow customers to trade cryptocurrencies or digital currencies for other assets.

    The first step is to register an account with the following exchange by clicking on the name.

    1) Binance
    2) Kucoin
    3) Cryptopia
    4) HitBTC


    I would have mentioned Bittrex.com but as at the time of compiling this, they have disabled new user registration. This is temporary, no one knows when they will start accepting new users. poloniex.com is also good, but I don't use them due to pass horrible experience.

    Register an account with the above two websites and make sure you activate 2FA (Two Factor Authentication) using Google authentication.

    Note: 2FA is a must activate. Failure to do this is a suicide mission.
     
    Last edited: Jan 16, 2018 at 9:08 AM
  2. Michael

    Michael Staff Member Administrator UF Member

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    CryptoCurrency Trading Rules

    [​IMG]
     
  3. Michael

    Michael Staff Member Administrator UF Member

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    Last edited: Jan 18, 2018 at 12:23 PM
  4. Michael

    Michael Staff Member Administrator UF Member

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    Getting Ready To Trade
    1) Understanding the exchange platform
    2) Funding your exchange account with bitcoin


    1) Understanding the exchange platform: I assume by now you have registered with the exchange sites listed above, if you haven't kindly go and register using the link above. You need to understand the platform you will be trading with and it's very important to know how each of the platforms works. This is because some times, the coin you want to trade will be on Binance and not on Kucoin, vise versa. Watch the videos below.

    Binance Video Tutorial Part 1:
    Binance Video Tutorial Part 2:

    KuCoin Video Tutorial:

    Cryptopia Video Tutorial:

    2) Funding your exchange account with bitcoin: All exchange sites have bitcoin wallet. You can fund your exchange account directly, because the altcoins you are to trade are paired with BTC. You can fund your BTC wallet using any of your trusted bitcoin exchanger or seller.

    For Nigerians: I recommend www.topupgold.com

    When you have gotten your bitcoin wallet address from the exchange listed above, give it to your bitcoin seller/exchanger and they will fund it directly for you.

    Note: You can load your exchange wallet using any of the coin they listed, but cannot trade using any coin. Some exchange have ETH/NEO/LTC/USDT pairs, this simply means that you can only trade using the pairs. If in a case you have other coins, you can sell the coin to get btc and use btc to trade.
     
  5. Michael

    Michael Staff Member Administrator UF Member

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    TIPS
    Trade the rumor – sell the news

    There is lot’s of value created by ‘pump- & dumpers’ so watch out! Always set a goal, which you want to achieve, for example 25%. If you don’t check you exchanges daily, then the best thing you could probably do is add a limit order. A limit order is executed, when a limit price is reached. For example, if you buy a dogecoin for 0.05 BTC. You can make a limit order for 0.075 BTC. This means, when the dogecoin gets a value higher than 0.075 BTC, your order will instantly be executed. This makes sure, that you dont pass out on the moment – it can always fall back to 0.05 before you can see the trade opportunity. Source: coinstaker

    How To Invest in ICOs (Common Sense Tips) >


    Cryptocurrency Trading terms and meaning

    #ALTCOIN = Any crypto currency other than bitcoin.
    #ASHDRAKED = A situation where you lost all your money.
    #BAGHOLDER = A person who buys and hold coins in large quantity hoping to make good profits in the future.
    #BEAR/BEARISH = Negative price movement
    #BTFD = Buy The Fucking Dip (an indication to buy a coin when it has dumped so hard)
    #BULL/#BULLISH = Positive price movement
    #DILDO = Long green or red candles
    #DUMP = To Sell off a coin
    #DUMPING = Downward price movement
    #DYOR = Do Your Own Research
    #FA = Fundamental Analysis
    #FOMO = Fear Of Missing Out (A coin is pumping and you get the feeling it's gonna pump more, so you buy high)
    #FUD = Fear Uncertainty & Doubt
    #HODL = Hold/Hold a position
    #JOMO = Joy Of Missing Out
    #LONG = Margin bull position
    #MCAP = Market Capitalization
    #MOON = Continuous upward movement of price
    #OTC = Over The Counter
    #PUMP = Upward price movement
    #SAJ #CANDLE = Huge green candle
    #SHITCOIN = A coin with no potential value or use
    #SHORT = Margin bear position
    #SWING = Zig zag price movement (Upwards and downwards)
    #TA = Technical Analysis
    #REKT = When you have a bad loss
    #REVERSE INDICATOR = Someone who is always wrong predicting price movements.
    #RSI = Relative Strength Index
    #WHALE = Very Wealthy trader/Market mover



    CRYPTO TERMINOLOGIES AND MEANINGS
    ■Accumulation: Buying an asset to acquire a sizable position

    ■Air drop: Paying crypto holders a free token based on the balance held in their wallet

    ■Altcoin: Alternative cryptocurrency that’s not bitcoin

    ■BTFD: Buy the f%$k’n dip

    ■BagHolder: Someone left holding an asset after the price crashed

    ■BearGrind: A slow choppy sell-off with very weak bounces

    ■BearTrend: Downwards price movement creating a series of lower highs

    ■BlackSwam: A random bearish news event
    ■Bots: trading algorithms

    ■Bounce play: When the price bounces up quickly after a dump

    ■Breakdown: Price dropping below support

    ■Breakout: Price moving up past resistance

    ■Bull trend: Upwards price movement creating a series of higher lows

    ■Buy wall: A large bid on the order book

    ■Buying pressure: Buying momentum building to push prices higher

    ■Capitulation: The final point in the market when the last bagholders sell their positions before a reversal

    ■Catching falling knives: the act of dip buying when the markets are on a down trend

    ■Channel: A diagonal trading range between support and resistance

    ■Chop: Directionless price movement that lacks momentum

    ■Coin: a crypto asset used to secure a blockchain by rewarding miners

    ■Consolidation: A period of stability and sideways price action

    ■Continuation pattern: A technical pattern that often means continued movement along a price trend

    ■Contrarian: Going against the herd

    ■Crypto: short for cryptography or cryptocurrency

    ■Delegated proof-of-stake: a form of mining that consists of coin holders electing delegates to secure the blockchain

    ■Dumb money: Over emotional traders or investors

    ■Dump: A sharp downwards price movement

    ■ERC20: A standard for creating ETH based tokens

    ■FOMO: Fear of missing out

    ■FUD: Fear uncertainty and doubt

    ■Fakeout: Price pretending to break support or resistance

    ■Flash crash: A large price dump that quickly bounces

    ■Hard fork: A blockchain upgrade that’s not compatible with older versions of the software
    Honey Badger: A term used to describe bitcoin’s resilience

    ■ICO: initial coin offering, when tokens are sold in a crowdsale

    ■Insta-mine: A coin launching with very small difficulty so the developers can get a large portion of the supply for cheap, while trying to hide it’s a pre-mine.

    ■JOMO: Joy of missing out
    ■Leverage: increasing ones order size by borrowing coins

    ■Liquidation: when a market moves against a leveraged trader and they lose their entire position

    ■Long: Buying an asset

    ■Miners: people who run computers to secure transactions on a blockchain

    ■Momentum: Price movement

    ■Network split: when a blockchain splits into two separate blockchains as a result of hard forks

    ■Parabolic: when the markets shoot up very fast, usually before a dump and reversal
    Pre-mine: A launched coin where the developers start by keeping a % of the supply for themselves

    ■Price discovery: Buyers and sellers in the open market trading to establish a price

    ■Proof-of-stake: a form of mining that consists of holding a coin in a wallet

    ■Proof-of-work: a form of mining that consumes computational power and electricity

    ■Pump and dump: when traders push the price up high and immediately sell to crash the price

    ■Pump: when the price rises fast

    ■Resistance: A price area where sellers step in to push the price down

    ■Reversal: A change in price direction

    ■Salty Pleb: Used to describe jealous people who don’t own bitcoin

    ■Sell wall: A large ask on the order book
    Selling pressure: Selling momentum building to push prices lower

    ■Shitcoin: a term used by traders to describe altcoins as way to symbolize non-attachment

    ■Short squeeze: closing out shorts due to a break of resistance and stops being triggered

    ■Short: Borrowing an asset to sell on the markets

    ■Soft fork: An blockchain upgrade that’s backwards compatible with older versions of the software

    ■Spoofing: When traders flash fake buy or sell walls

    ■Spoofy the bear whale: A mythical creature that traders use to blame for their bad trades
    Stop order hunting: When traders push the price to trigger stop ordersCRYPTO TERMINOLOGIES AND MEANINGS
    ■Accumulation: Buying an asset to acquire a sizable position

    ■Air drop: Paying crypto holders a free token based on the balance held in their wallet

    ■Altcoin: Alternative cryptocurrency that’s not bitcoin

    ■BTFD: Buy the f%$k’n dip

    ■BagHolder: Someone left holding an asset after the price crashed

    ■BearGrind: A slow choppy sell-off with very weak bounces

    ■BearTrend: Downwards price movement creating a series of lower highs

    ■BlackSwam: A random bearish news event
    ■Bots: trading algorithms

    ■Bounce play: When the price bounces up quickly after a dump

    ■Breakdown: Price dropping below support

    ■Breakout: Price moving up past resistance

    ■Bull trend: Upwards price movement creating a series of higher lows

    ■Buy wall: A large bid on the order book

    ■Buying pressure: Buying momentum building to push prices higher

    ■Capitulation: The final point in the market when the last bagholders sell their positions before a reversal

    ■Catching falling knives: the act of dip buying when the markets are on a down trend

    ■Channel: A diagonal trading range between support and resistance

    ■Chop: Directionless price movement that lacks momentum

    ■Coin: a crypto asset used to secure a blockchain by rewarding miners

    ■Consolidation: A period of stability and sideways price action

    ■Continuation pattern: A technical pattern that often means continued movement along a price trend

    ■Contrarian: Going against the herd

    ■Crypto: short for cryptography or cryptocurrency

    ■Delegated proof-of-stake: a form of mining that consists of coin holders electing delegates to secure the blockchain

    ■Dumb money: Over emotional traders or investors

    ■Dump: A sharp downwards price movement

    ■ERC20: A standard for creating ETH based tokens

    ■FOMO: Fear of missing out

    ■FUD: Fear uncertainty and doubt

    ■Fakeout: Price pretending to break support or resistance

    ■Flash crash: A large price dump that quickly bounces

    ■Hard fork: A blockchain upgrade that’s not compatible with older versions of the software
    Honey Badger: A term used to describe bitcoin’s resilience

    ■ICO: initial coin offering, when tokens are sold in a crowdsale

    ■Insta-mine: A coin launching with very small difficulty so the developers can get a large portion of the supply for cheap, while trying to hide it’s a pre-mine.

    ■JOMO: Joy of missing out
    ■Leverage: increasing ones order size by borrowing coins

    ■Liquidation: when a market moves against a leveraged trader and they lose their entire position

    ■Long: Buying an asset

    ■Miners: people who run computers to secure transactions on a blockchain

    ■Momentum: Price movement

    ■Network split: when a blockchain splits into two separate blockchains as a result of hard forks

    ■Parabolic: when the markets shoot up very fast, usually before a dump and reversal
    Pre-mine: A launched coin where the developers start by keeping a % of the supply for themselves

    ■Price discovery: Buyers and sellers in the open market trading to establish a price

    ■Proof-of-stake: a form of mining that consists of holding a coin in a wallet

    ■Proof-of-work: a form of mining that consumes computational power and electricity

    ■Pump and dump: when traders push the price up high and immediately sell to crash the price

    ■Pump: when the price rises fast

    ■Resistance: A price area where sellers step in to push the price down

    ■Reversal: A change in price direction

    ■Salty Pleb: Used to describe jealous people who don’t own bitcoin

    ■Sell wall: A large ask on the order book
    Selling pressure: Selling momentum building to push prices lower

    ■Shitcoin: a term used by traders to describe altcoins as way to symbolize non-attachment

    ■Short squeeze: closing out shorts due to a break of resistance and stops being triggered

    ■Short: Borrowing an asset to sell on the markets

    ■Soft fork: An blockchain upgrade that’s backwards compatible with older versions of the software

    ■Spoofing: When traders flash fake buy or sell walls

    ■Spoofy the bear whale: A mythical creature that traders use to blame for their bad trades
    Stop order hunting: When traders push the price to trigger stop orders
     
    Last edited: Jan 12, 2018
  6. Michael

    Michael Staff Member Administrator UF Member

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    ICOs PICK
    Note: You are responsible for the outcome of any action you took here.

    Dadi

    Description:

    DADI is a global, decentralized cloud services platform, offering compute power, database storage, content delivery and other functionality to help businesses scale and grow. With DADI there is no single authority that regulates computing resource distribution. The platform uses cost-efficient fog computing organized by a Decentralized Autonomous Organization (DAO) rather than a centralized cloud structure, removing the need to pay in advance for private and monopolized cloud computing platforms such as Amazon Web Services (AWS), Microsoft Azureand Google Cloud.

    This is going to be massive. Crowdsale will begin on the 22nd of January, 2018, and will run for 30 days (or until the Crowdsale is sold out).

    Register for this ICO > http://bit.ly/dadizedd

    .........................................................................................................................................

    Titanium

    Description:

    Just as steel changed the building industry forever, Titanium will usher in a new era of network construction. With TBIS’ proprietary Company as a Service™ and Infrastructure as a Service, every device, from enterprise level on down, can be virtualized; routers, firewalls, and specialized equipment such as cryptocurrency miners, can exist in an entirely cloud-based environment based on the decentralized Ethereum Blockchain. Paired with cutting-edge enterprise management and monitoring technology, this will create a shock-proof internet infrastructure that will be both lightweight and completely revolutionary in scope. Imagine being able to set up an enterprise level infrastructure for a global company from a tablet in your living room, without spending any time installing rack servers, routers, load balancers, or any other network component beyond what is needed to access the network.

    Register for ICO > http://bit.ly/titaniumzedd

    Ending January 20, 2018 at 8:00pm PST
    .......................................................................................................................................

    Note: Research about this ICO(s) before investing in them. Always remember that you are the CEO of your portfolio.
     
    Last edited: Jan 16, 2018 at 11:59 AM
  7. Michael

    Michael Staff Member Administrator UF Member

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    The land is red, don't panic instead buy the dip.

    “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” ― Warren Buffett
     
  8. Michael

    Michael Staff Member Administrator UF Member

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    Observation: Any coin listed on Binance will pump to over 100%.
    I see lots of PnD going on there. So, it's advisable to follow them on twitter and enable notification for all tweet, if they list a coin, buy it immediately and sell when it gets to 100%.

    Note: Never you buy when it's above 100% increase in 24 hours to avoid catching a falling knife.

    Just be watchful, if it's below 100%, buy it and sell as soon as it cross 100%.

    PS: This is just my observation.
     
  9. Michael

    Michael Staff Member Administrator UF Member

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    ENJ will be listed on Kucoin by 22:00 (UTC +8)

    Nigeria time: 3PM

    Buy below 3,000 sat on Binance as soon as you can.

    Note: Have an entry point and exit point or you become a holder.
     
  10. Michael

    Michael Staff Member Administrator UF Member

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    To survive

    1: Never invest what you cannot afford to lose
    2: Time in the market is better than timing the market
    3: The best time to buy was yesterday, the second best time is now
    4: Nothing goes up forever, expect dips
    5: If you can't buy 10, buy 5; if you can't buy 5, buy 1
    6: Even small positions can have massive returns
    7: Never buy what you don't understand
    8: Be fearful when others are greedy and be greedy when others are fearful -Warren Buffet
    9: Someone will always make more than you, focus on relative, not absolute gains
    10: Sometimes you WILL lose money, refer to rules 1 and 2 to minimize loss.
    11: Don't panic when price goes down a bit!
    12: Don't put all eggs in the same basket.
     
  11. Michael

    Michael Staff Member Administrator UF Member

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    Remember the rule.

    This isn't the time to sell, it's time to accumulate. Be greedy when others are fearful.

    Buy the dip people. #Bloodbath
     
  12. Michael

    Michael Staff Member Administrator UF Member

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    The first site I visit in the morning is www.coinmarketcap.com

    In this business, you need to be always be updated with whatever that's happening.

    I will drop some sites later.
     
  13. Michael

    Michael Staff Member Administrator UF Member

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    On January 16, 2018 Datum Coin (DAT) token will join our list of tradable tokens. KuCoin traders will have access to DAT/BTC and DAT/ETH trading pairs upon listing. Users can start trading DAT on KuCoin January 16, 2018 at 23:00 (UTC +8)
    #KCS #DAT #BTC #ETH @datumnetwork https://t.co/ZUYGNVuXrR

    4PM WAT
     
  14. Michael

    Michael Staff Member Administrator UF Member

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    BitClave (CAT) token is getting listed. KuCoin traders will have access to CAT/BTC and CAT/ETH trading pairs upon listing. Users can start trading CAT on KuCoin January 16, 2018 at 22:00 (UTC +8).
    Promotion Details: https://t.co/IooQ34wlby
    #KCS #CAT #BTC #ETH @bitclave https://t.co/CK4VBheoC

    3PM WAT
     
  15. Michael

    Michael Staff Member Administrator UF Member

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    Updated.
     
  16. Michael

    Michael Staff Member Administrator UF Member

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    How to calculate percentage profit.

    The percentage profit or loss can be calculated by working out the difference between the cost price and the selling price, then divide this answer by the original price (cost price) and multiply by 100.

    Example: I bought a unit of STEEM at 0.00032500 and I want to sell it at 0.00037000.

    0.00037000 (selling price) - 0.00032500 (cost price) = 0.000045 (Profit)

    0.000045/0.00032500 * 100 = 13.85%

    So I made 13.85% profit.
     
    Last edited: Jan 18, 2018 at 4:09 PM

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