Project Description

How To Start Trading Crypto

Essentially, one would think that whether you’re trading Forex, commodities, stocks or cryptocurrencies – it is all the same. The point of the game is to buy at a low price and sell high generating a profit. Therefore if you are familiar with trading traditional currencies, one would think that it would not be difficult to move into Bitcoin trading, cryptocurrencies and other assets. You should be able to essentially apply some of the same financial tools and indicators to trading cryptocurrencies very successfully.  But there are some differences you need to be aware of…

The crypto markets move fast and you can easily lose money – at warp speed.  The one huge difference between other trading and crypto-trading is that crypto markets move at “video game speed” – the market can literally crash out 40%, go full bear, then recover in two days to reach all new highs…that’s how fast it moves.  This is a major reason why few understand the crypto space, and report that “Bitcoin is dead” time and time again.  They are used to playing the game at much slower speeds, and it is a space in which kids who never lived without the Internet are comfortable.  When Forbes or CNN or FOX Business reports on bear markets in the traditional stock world, they’re usually right for a reasonable period of time – that market will go cold for months.  In crypto, it can go nova-hot tomorrow!

To keep up, you need an edge – and to get that, you’d better start reading.  You need to educate yourself, learn technical analysis (study the chart patterns), and know that you’ll be trading against bots regularly on the exchanges that make decisions based on moving averages, pull backs, breakouts, and all the other things that tech-analysists  love.  Learn about the top 10 “altcoins”, what their intent is, and what events will potentially affect their market price.

You also need a lot of time – because the rule of thumb is “sell the highs, buy the dips, do not sell the dips”.  But in order to do that, you literally have to watch the market constantly.  Traditional markets close at the end of the day, crypto markets trade 24/7 – they do not close.

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