CryptoCurrency Trading Training

Michael

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#1
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.
 
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Michael

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#3
CryptoCurrency Trading Notes

Read > The 10 golden rules of investing

Read > 25 Rules for Investing

The investment rules above is applicable to crypto trading, it's a golden investment rules you must know if you truly want to succeed in this business.
A MUST READ: Eight Simple Rules for Protecting Your Cryptocurrency

A MUST READ:
Safe Trading on Cryptocurrency Exchanges: 20 Security Tips

READ > 8 must read tips for trading Bitcoin and Altcoins
 
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Michael

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#4
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.
 

Michael

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#5
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 your 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
#PnD = Pump and dump
 
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Michael

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#7
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
 

Michael

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#8
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.
 

Michael

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#9
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.
 

Michael

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#10
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.
 

Michael

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#11
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
 

Michael

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#13
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
 

Michael

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#15

Michael

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#16
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.
 
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Michael

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#17
Observation: Binance guys indulge in insider trading.

Before they list any coin, it will first pump in other exchange. Today they listed PIVX, it have already started pumping in other exchange 30 minutes ago. This simply tells us that something is wrong, this isn't normal.
Note: This is not just the only scenario.

If you trade because Binance list a coin and buy into it, you're catching a falling knife.

Any coin already in other exchange they list always reverse back after the pump.

Trade with your sense not your emotions. In this space, you have to get rid of your emotions if you don't want to get burnt.

If any coin I am holding get listed to Binance, I will sell it and buy back after the pump.
 

Michael

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#18
If you have any question, you can post it here.


Later in the day, I will tell you why your portfolio is always red and what to do to avoid it.

Stay tune
 
#19
I have three questions.

1. Is steem coin gud for long term hold? Am buying into it 100$ every month.

2. Btw steem coin, steem dollars and other steem coins, which is the real deal. They kind of confuse me. But i chose steem coin.

3. Is there no paper wallet for steem? I find it hard getting a wallet to store my steem after buying at bittrex. Maybe am looking at the wrong place.

My hold are; btc, ethereum, bitcoin cash, litcoin, stratis, ark, and steem. Which i find a way to invest 1000$ (shared into all) monthly. I do this cos its a portion of my earning (i dont want to be greedy). Is this wise? Pls advice.

Thank you
 

Michael

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#20
I have three questions.

1. Is steem coin gud for long term hold? Am buying into it 100$ every month.

2. Btw steem coin, steem dollars and other steem coins, which is the real deal. They kind of confuse me. But i chose steem coin.

3. Is there no paper wallet for steem? I find it hard getting a wallet to store my steem after buying at bittrex. Maybe am looking at the wrong place.

My hold are; btc, ethereum, bitcoin cash, litcoin, stratis, ark, and steem. Which i find a way to invest 1000$ (shared into all) monthly. I do this cos its a portion of my earning (i dont want to be greedy). Is this wise? Pls advice.

Thank you
1) Steem is good for long term, but buying $100 monthly may not be the coolest idea, when there are other coins with great potentials and real world usage. Check out WAVES, TFL, SC and BAT.

2) Steem coin you buy from exchanges, steem dollar you earn using the platform when they upvote your content.

3) I haven't found any offline wallet for storing steem. I ain't sure if there's any at the moment.


Your portfolio is okay but, it will be wise if you replace bitcoin cash with PIVX.
 
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#21
Thank you... wilp consider going into pivx.
1) Steem is good for long term, but buying $100 monthly may not be the coolest idea, when there are other coins with great potentials and real world usage. Check out WAVES, TFL, SC and BAT.

2) Steem coin you buy from exchanges, steem dollar you earn using the platform when they upvote your content.

3) I haven't found any offline wallet for storing steem. I ain't sure if there's any at the moment.


Your portfolio is okay but, it will be wise if you replace bitcoin cash with PIVX.
 

Michael

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#22
WHY YOU WILL ALWAYS LOSE MONEY
"Be fearful when others are greedy and be greedy when others are fearful." -Warren Buffet

Not obeying this powerful quote is why you will keep losing money. When everyone is excited, exit the market and wait for the dip. Just like last month everyone was excited, too many noise on crypto space bitcoin price at $19k. I quietly exit the market because I noticed that almost everyone is greedy.

I re-entered the market this January and bought the dip. I bought the dip when many are afraid and sold in panic. Whenever there is too much excitement in the market that is many people getting on board and bitcoin price gaining over $2k daily for days, altcoins and shitcoins hitting all time high, just watch out for price correction because it will surely come.

Obey Trade the rumor – sell the news tip posted above. Listen, no altcoin is worth holding forever. Check the list of top 20 every month and see how the reshuffling is going on. The nightmare here is, altcoins price is measured in satoshi (BTC).

If you have 0.1245 BTC in your wallet today, it can never change, come 2050 it will remain the same, but that is not applicable to altcoins. It's either in increases or decrease in sat.

Always set a goal before buying any coin, I personally don't romance with any altcoin. I set my percentage profit and get out immediately I achieve it, no time trading with emotions.

My personal trading mission: Accumulate more bitcoin.

If you have any question, kindly ask.
 
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Michael

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#23
If you want low transaction fee, embrace segwit wallet.

40,000 BTC was sent with $1.15 fee using segwit wallet.

Hash code: 92785a57f6e9e9eb9d37a00e6e8be7f888376f65fa2b8f868db261cbf6cca7b0


I suggest we all start using segwit enabled wallet. I recommend Electrum

Lists of Bitcoin wallets that have SegWit.

Bitcoin Core - PC, Linux, Mac.
Electrum - PC
Armory - PC.
Samourai - Android.
BitWallet - IOS
GreenAddress - IOS
BitGo - IOS, Android, Web
Trezor - Cold Storage
Ledger - Cold storage

Use them for low fee. Encourage others to use Segwit wallet.
 
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Michael

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#24
Breaking the silence...

Do you know that in Nigeria stock market, they (cowboys) pumped Oando to 25 NGN per share and later got to 5 NGN per share?

This is financial market, expect anything. If you live by the golden rule of Warren Buffet, you won't feel this bloodbath.

Exit the market when everyone is greedy (December 2017) and jump in when everyone is fearful (Now).

This is the time to buy the dip, 'olodo' stop buying the top of what you don't fully understand.

History always repeat itself in financial market.

If you bought the top, the only way you can help yourself is to hodl than selling. The future is so bright.

Note: This is for those whose sense of reasoning still works.
 

Michael

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#25
Information: Do not buy any coin that just get listed on Binance. If you must buy, wait for like 24 hours after listing to avoid catching a falling knife.
 
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