Pt.5 Trading cryptocurrencies

So....which coins to start? Stay with the the big names?
Or..... take a chance at the cheaper coins?

Learning the basics:

The basics of Fibonacci and Elliot Wave theories. (IMPORTANT)

Crypto-market is almost very similar to the stock market itself but with a lot more intense trading. The basic laws still applies except to me it just seems an extremely accelerated version of agricultural stock.
@haejin shows perfect examples of putting these basic theories into action. On Steemit, @haejin has been an inspirational help to many in understanding the market and what is occurring simply from an emotional free and news free environment. Check him out and his lessons at:
https://steemit.com/@haejin

What the coins do?

It is always good to understand how the coin works in the crypto-world. Otherwise; always stick to high volume coins with big daily trade volumes. CryptoCompare is like a wiki-pedia to cryptocurrencies, check it out at:
https://www.cryptocompare.com

Check out the developers/miners

Always check out it’s community, many major cryptocurrency has its own social media pages such as Facebook and Twitter. Bitcointalk and Reddit both are the perfect forums to go check out other people’s views and you can even find the developers and miner’s forums.
Check it out at:
https://bitcointalk.org
http://www.reddit.com

Understand what suits you.

Understand that you cannot be around watching crypto markets all day long as most of us have a family and a normal day job. With this in mind then we have to what kind of investor we will be. Whether we are long term “HODLers”(hold on for dear life), quick in and out or maybe even a day trader.

Just a few tips for trading

• Never rely on purely just news
• Coins depend a lot on their miners/ developers, so make sure it’s a good team!
• Trade on bigger exchanges as they try to filter out the riskier options
• Always try to buy low and sell high
• NEVER PANIC BUY when you see ALL GREEN and the coin flying! See how much longer it’ll go on for realisticly.
• NEVER PANIC SELL, just hold first and see what is actually happening!

•   Always go for coins with HIGHER volumes when day trading.
  

A few great ones to check out would be Doge, Rdd, Xrp, Verge and Zcash.

CryptoZen's Guide to Cryptocurrency

Pt. 1: How to Buy Bitcoin and other cryptocurrencies
https://steemit.com/bitcoin/@zen-analyst/pt-1-how-to-buy-bitcoin-and-other-cryptocurrencies-australia

PT. 2 The Guide to "Bitcoin" and Cryptocurrency Exchanges
https://steemit.com/bitcoin/@zen-analyst/pt-2-the-bitcoin-cryptocurrency-exchanges-recommendations

PT. 3 What is a Cryptocurrency wallet?
https://steemit.com/bitcoin/@zen-analyst/pt-3-what-is-a-cryptocurrency-wallet

Pt. 4 Transferring cryptocurrency from wallet to wallet
https://steemit.com/bitcoin/@zen-analyst/pt-4-transferring-cryptocurrency-from-wallet-to-wallet

I will start talking about different trade strategies soon and spotting the booms and what the signs are!

This information should not be taken as as investment advice and merely treated as entertainment

Am I missing any other good recommendations for us Aussies?
Let me know!

Merry Christmas and Happy new year everyone!

CryptoZen