How to trade altcoins

in #money10 years ago

As I mentioned in my prior post I have recently become interested in trading cryptocurrencies. My interest has been peaked largely because I now believe these currencies to truly be a viable product for the future.


Of course, the crypto we are all familiar with is bitcoin. I am a believer in the currency but am skeptical on the returns that you are likely to realize by trading it. Sure they can be appealing but when they are weighed against some other percentages being realized by altcoins they become less attractive. I see bitcoin more as an investment rather than a trading vehicle. 

(Obviously I am young and naive so if veteran traders have differing opinions please voice them in the comments.) 

For now, what really peaks my interest is the trading potential of altcoins. Of course, I have done a fair amount of research and realize that almost all of these currencies will be worthless in the future and most of their current value is generated through pump and dump tactics. In an effort to sidestep those particular coins I am focusing my attention on higher volume currencies that provide features that their predecessors do not (ETH,XMR,NAV,FCT).

My trading tactics have relied heavily on technical analysis and finding support and resistance zones. Consequently, I actually enjoy finding currencies that are more volatile because I have found that they are somewhat easier to predict. 

My question to fellow steamers out there is how they have been able to experience consistent green days. Currently, I lack confidence in my predictions and I would like to find a full proof strategy to guide my decision making.  



  

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This is a great article. Happy to share this on Twitter to my followers to read. Following and looking forward to reading your posts. Cheers. Stephen

Hey @doggerdingo, great post. I'm a new blogger and recently signed up. I would love it if you would have a quick look at my profile page and click follow if my writing interests you. Thankyou!

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