Hello my fellow cryptocurrency trader. How are you feeling today?
Before we get started in this incredible and wild adventure that is cryptocurrency trading, the “stock market for the people”, I want to introduce you to the basics of what you will be reading here.
The main reason you are here is to learn how to trade cryptocurrencies successfully and make money while doing it, that’s what I hope. For that, before I post my first trade analysis, I need to introduce you to the basics, and that is, the instructions that you will be reading about and receiving from me on every coin analysis (or trade idea) that I publish.
These coin analysis are quick and short guide that you can follow to trade cryptocoins successfully, meaning, if you follow the instructions in the analysis that I will be posting, you will be able to come out a winner. Become a successful trader. While making money, you can learn how to trade in the process as I will be sharing, always, all the tips and tricks that I use to win no matter what. So let’s get started, shall we? Yes!
Cryptocurrency Trading – The Basics
Now, let’s start with the most important part, let’s start with the basics.
So, we already agreed that you have two main purposes for being here: (1) Making money trading cryptocurrencies and (2) learning how to do it on your own. Perfect, so let’s start with the most important part, making money.
For each coin analysis that I share, which we also call a “trade idea”, there will be three main points that you need to follow. These points are the instructions needed to be successful in any trade, these are: (1) Buy-in, (2) Stop-loss and (3) Targets. Let’s get started.
When you read my trade ideas, after the introduction and some chit-chat, maybe some basics about the coin that I am analyzing, the first thing that you should be concerned with is the “Buy-in”, which indicates a buy-in price range for the coin in question.
So, right after I share an idea, I recommend a certain price when you should “buy-in” into this coin. This is the price range that I recommend you purchase this coin in the analysis.
As an example, let’s say that I am sharing a coin analysis / trade idea for a cryptocoin / altcoin named DGB. All prices will be shown according to their BTC pair, meaning, COIN/BTC. In this example, DGB/BTC.
So let’s say the buy-in range is 80-100 satoshis or 0.00000080 – 0.00000100. What this means is that whenever the price is within that range, that can be 85 as it can be 99, you can buy this coin, because, this coin is within the buy-in range.
In some cases, the price will be lower than the buy, in the case that a coin doesn’t take off after I share it. In this case, it is still ok to buy and you will actually be buying it at a bargain. In some other cases, the price can be higher than the buy-in and still be a good opportunity to buy, I will talk more about this in the future, but for now, you should focus on buying in within the recommended range.
The stop-loss is very simple and straight forward. It is the price at witch we close a trade to stop losing money if things don’t go our way.
As a cryptocurrency analyzer, I get to look at “signals” from the charts which will tell me where a coin might move next. These signals, with the indicators and tools that I use are very strong, so far, we have shown to be right about 98% of the time, but, these are just signals and the market is unpredictable. I can analyze all I want but the market can still move either way, anything can happen, things can change fast.
So, let’s say I post a coin analysis aiming to make a 500% in 3 months, based on the signals given by the charts. You have your buy-in range, and your targets, which we will look at next. But after sharing the trade idea the price starts to go down, if a certain point is reached, then you have a stop-loss, which is a price when you sell for a certain lost. So you can have a 20% potential loss based on my recommendation, with a 500% potential gain.
Now, I use a strategy where I only recommend coins that reached their “bottom”, bounce, breakout and start moving up, meaning, there is already an “uptrend” set up, so the stop-loss become useless. So far, almost in 100% of the cases, with the exception of some analysis of coins that didn’t follow my own strategy, the stop loss is always useless.
So this is a fail safe mechanism but it will be mostly unnecessary for us. Still, it will be shared as we are successful traders and with this, we can increase our success even more.
Note for early beginners: You can ignore the stop loss.
This is the best part, targets is where we sell our coins for a profit. So, when you look at a trade idea, you will see several prices called targets.
There are many ways to approach these targets, and I will be sharing different strategies on how to do so, but, the basic and most simple way to approach a target is to sell your coins.
So first you buy in, then you wait and finally you sell when you reach your target. You can even set an “automatic” sell order, meaning, you place the sell order at the target price before the price is reached. By doing this, once the price is reached, you have completed a successful trade. You bought in, waited and came out in profit. THAT’S ALL.
So you only have 2 steps to follow to make money trading cryptocurrencies when you follow me, and that is:
- You buy-in within the recommended range.
- You sell at the target price.
Note: Something important about the targets is the “target range”. The targets have specific numbers, but these are not specific targets… So, when aiming for these targets, you can use a range to set your sell orders. You can sell 5-10% below target if you want your sell order to fill up for sure, just as you can sell 5-10% above target if you are looking for maximum profits.
That’s it. It doesn’t get any easier than that. That’s right.
The time that it takes to reach a target can vary from 1 day to 6 months. If you feel you need to do anything between the time you buy in and the time a target is reached, that is completely up to you. But there aren’t many options, you can only buy and sell. And to make money, we BUY LOW and SELL HIGH.
Target reached: When a trade starts to develop, we will hit our targets as the price of the coin we are trading starts to go up. A target is considered “reached” if we comes as close as 5% to the target price. Example, if the target is at 100 satoshis (0.00000100 btc) and we reach 95 satoshis (0.00000095) as a top, this target would still be considered reached (see our active trades for some examples or you can simply ignore this – this is really not that important).
You will find the following “codes” in the title of my trades, and they mean the following:
- [CLOSED] – This trade won’t be receiving anymore updates. We can still be holding this coin, hitting targets or simply waiting, but as long as a trade says “closed” on the title, it won’t be receiving any updates unless new action starts.
- [P] – This trade is private and not available to the public. This trade is only available for paid members
- Trade updates: Trades are mainly updated when a new target is reached and to update the stop loss or add a trailing stop loss. For daily updates that are not really “important” you can find them on my public profile on Trading View.
Trading for Beginners – Conclusion
So these are the basics for trading cryptocurrencies, pretty simple, incredibly simple, absolutely easy and straight forward. If you follow these steps, then you are already on your way to becoming a successful trader. Buy and hold, wait and then sell. That’s all.
Now, I know some of you have problems waiting, I know some of you have panic and all.
This is only an introduction, I will teach how to become a master at waiting and being able to hold.
So it doesn’t matter if you made mistakes in the past.
It doesn’t matter if you think that you are too late to learn.
I know for a fact that you are special, because you decide to come here to trade.
So let me remind you my beautiful friend, that you might have lost some opportunities, but there’s more.
Opportunities are endless in this field. You will realize this pretty soon, as you won’t be able to join them all.
So forget how good or bad where your past trades.
Because were now together, and everything will be great.
And if you are feeling bad because in the past you couldn’t trade.
Take a second and remember… that are an incredible human being, and YOU DESERVE THE BEST.