Trading Crypto

Discussion in 'Cryptocurrencies' started by Trader Curt, Feb 5, 2019.

  1. As a begginer trader, I find it pretty hard to trade crypto. With highly volatile markets it makes me wonder if trading normal stocks would be any easier.

    The thing I hate the most is that Bitcoin dominates the entire market, and if Bitcoin decides to have a little spurt, then every single altcoin plunges immediately. I don't know if this has to do with the price of other altcoins trying to correct themselves, or if people are getting out of other altcoins to flock to Bitcoin, or maybe right now it's just a very bearish market, (which it is), but whatever the case, daytrading crypto for me has been an extremely bumpy ride. And the fact that I'm also a begginer makes me wonder if this is the right market to trade in.

    Would trading normal stocks be better? As a begginer maybe it would be better to learn in highly volatile markets before learning normal stocks? Am I playing on the wrong field?
     
  2. Nobert

    Nobert

    Iv read in ,, Market Wizards'' first edition, about a trader, who kept expierencing loses, because, he had problem, with his ,, adiction '', to trade silver. He made a joke about himself being a warewolf or something. ( how else, in a ,,rational'' way to explain that :) )

    I think somewhere here,Bellafiore mentions that they traded BTC at his prop firm, but that was around 2017 august/december, so longs mostly ( and clearly they had an edge )


    For today, i know nothing about crypto market,tho, if all of it depends on a single coin ( which makes Ray Dalio to laugh whenever you mention it ), then it doesn't sound that ,,attractive'' to me.

    Those endless fields of altcoins ( shitcoins (?) ) and their pumps and dumps.

    You can practice equities trading on TDAmeritrade , the best demo for me so far :

    Screenshot (93).png
     
  3. In 30-40 years we will all be trading or settling our trades on a blockchain like Ethereum. It will be distributed, and glorious. Many fortunes will be lost before Goldman Sachs buys The One True Blockchain
     
    subban, heavenskrow and Nobert like this.
  4. Thanks I just downloaded it.
     
    Nobert likes this.
  5. In my opinion, yes. The more I understood the players and evolution of crypto, the less I think any of the current cryptos are viable long-term. So, I had to ask myself why would I trade crypto in a long-only account for a market that's likely in a permanent bear market? That's just my take so glad to see you're looking into other markets now.

     
  6. Sprout

    Sprout

    The future might be closer than you think.

    There is a centralized order matching with decentralized trader accounts Digital Futures offering. It’a still in testnet phase. Uses a DGTX token in-house with contract option to peg.

    Futures pairs BTC/ETH/LTC

    No fees trading.

    https://digitexfutures.com/

    Do your due diligence,... enjoy!
     
    Trader Curt likes this.
  7. Sprout

    Sprout


    If stocks are where you want to go, William O’Neil’s books and IBD are pretty solid.

    A more highly tuned (and challenging) version is searching in the archives on PVT (Position Vector Trading.)

    Good luck!

    If you fall down x, get up x+1 !
     
    Trader Curt likes this.
  8. maxinger

    maxinger

    I day trade various futures.

    Very rarely do I trade bitcoin futures.

    Bitcoin is one of the worst futures to trade.
    Liquidity is very poor.
    Its day range is rather small perhaps 50 points only? ie low volatility !
    Do not be fooled by news reporters claiming its movement is very hugh, and billions of dollars were wiped out and those things.
    Rarely will you get healthy day range.

    Anyway, if you like bitcoin trading, by all means go and trade it.
     
    Trader Curt likes this.
  9. Thanks everyone for the imput.

    I know regular stocks are probably easier, with more volume and less volatility. But as a begginer, I think that trading in a harsh enviornment would help me learn faster and give me more learning experience than in an easy going enviornment.

    And that TD ameritrade platform seems like a lot of learning has to be done before you can even begin to trade. My simple mind can't take all the functions and

    So I think I'm going to keep doing as I'm doing, and when the market is bearish i'll learn how to trade normal stocks.
     
  10. Trader Curt:

    Good luck to you. I can't say I agree with your reasoning but to each his own.
     
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