Steemit Crypto Academy Contest / S3W4 – Cryptocurrency Trading by @amryksr
Since I joined Steemit in early February 2017 I have plunged into the world of cryptocurrency. This means that when selling Steem or SBD assets it is already included in the world of cryptocurrency. Cryptocurrency trading is the process of selling or buying Cryptocurrencies or digital currencies, be it Steem, SBD, Bitcoin ETH, EOS and other coins.
In my opinion, I belong to the Day Trader. Because I sell and buy cryptocurrency and close it on the same day. The reason I became a day trader is because I didn't have the courage to trade cryptocurrencies for too long. Because if you close more trades in a day, most likely I can't control it.
Moreover, I have big ambitions when I already get a little profit and I want it to be bigger than what I get. If I close a trade more than a day or the same day, then I am afraid that I will lose all assets. And undeniably can bring havoc or I achieve a loss. That's why I chose to become a day trader.
I usually use 1 day frame in analyzing or use 4 hour time frame. The reason I chose the 4 hour time frame is because I have such a short time. I'm a worker and if I spend 24 hours a day trading it's impossible, because I have to do other work. So for the 4 hour time frame I have time and usually I choose that time frame at night.
In crypto asset pairs I like BTC/USDT, BNB/USDT, Steem/USDT and coin pairs with USDT. The reason I chose a pair with USDT, is because the price of the coin is stable, unlike other coin pairs.
To trade I always do on the Binance exchange. The reason for choosing the Binance exchange besides being easy to trade, Binance is perfect for all circles, especially for beginner traders and for cheaper trading fees.
To gain trading experience, it is important to trade regularly. This statement is very true. In order to get trading experience we have to do it continuously and it doesn't have to be done in large quantities, just with a little capital, we can trade every day, so that knowledge of experience in trading increases.
It is impossible when we are in a trade we never lose. All traders have experienced losses, whether they are small or large. But from these losses we can rise and be confident so that our future trades can be better.
If we trade frequently and every day, we will know the smallest things that are traded. Just like I used to never know the term in crypto, for now I have understood little by little. I didn't know it was scalping, moving averages, bollinger bands, stochastic and other terms. By trading regularly, I already know the term.
In the long run, do your gains outweigh your losses? The answer is I get a bigger profit. Every month I will evaluate myself in making trades, this is to get bigger profits in the future. Suppose this month I experience a loss, then I will change my trading strategy next month so that I can make a profit and cover the loss I got last month. So trading experience is the key to success so that future trades can be profitable.
Whenever I am not satisfied with the results I get, then I will change the trading system. Be it changing the trading time or changing something else. Maybe in the last month when trading emotionally and in a hurry, it will come to have to think rationally and make trades after careful thought.
Talking about artificial intelligence towards crypto trading is very interesting. With artificial intelligence on crypto trading, it will avoid or minimize the possibility of losses in crypto. With artificial intelligence, we will get accuracy in trading.
By doing automated trading robots, we don't have to monitor trades manually anymore. However I have no desire to trade with automated trading robots yet. I have my own reasons for not wanting to trade with automated trading robots.
The reason I don't want to trade with automated trading robots is that not all brokers allow the use of trading robots, the cost of buying automated robots is still expensive, even though they already have automatics, traders still have to monitor them, are less able to adapt to certain markets, and still need special skills to set up a trading robot.
Therefore, I still do not have the desire to trade with a trading robot and I am still satisfied with trading manually. And if the trading robot is minimal from weaknesses, it is possible that I will join a trading robot.
If you have plunged into cryptocurrency, we must really understand, don't just trade without understanding. When we don't have experience and when we trade we still have ego and emotions, then we don't get profit, but big losses will befall us. To be able to trade, you don't have to spend a lot of money, even with a small fee, you can make a profit. As long as we want to learn, we can.
I invite my friends to be able to participate in the Challenge held by @crypto-academy. Please participate @zainalbakri, @ayijufridar, @husaini, @f2i5, @afrizalbinalka, @irawandedy, @klen.civil, @musdezal, @jufrimj, @tucsond and other friends.
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Overall,you have done great to share your cryptocurrency trading experience with us. Thank you for participating in this contest.
Total|7/10
Thanks to @reminiscence01 for the verification and comments. I am satisfied with your response.
Day trading is as well a safe method of trading , which with this , you get to take your profit within the day, then you could as well seek other opportunity the following day.
Good luck.
till date I still love to trade and close it every day.
Mohon penjelasan scalping, future dll saya ga paham
Ini @abialfatih
Terimkasih
You are right my friend, trading regularly helps in getting more experience in cryptocurrency trading, also being a day trader is good, you would be able to take a profit on time and close the trade, I'm a Day trader too. Thank you for sharing.
I prefer to close trades on a daily basis. If I close a trade for more than a day, I'm afraid I can't control it.
Greetings my friend, you have discussed well enough about crypto trading and your experience with it , it's nice to see you have been able to acquire a good trading set up for yourself, good luck
I will try to do my best not to lose. Even if I get a loss, I minimize the loss as little as possible.
Many bots services have their own associated costs for sure. That's one of the disadvantages for taking the decision of using it in your trades friend. Great publication you did at the crypto academy.
I still don't like automated trading robot services, because there are still many shortcomings that are obtained from automated trading robots.
Só true. With automated processes you'll be rich very slow 🦥
I once asked people who trade through robots and they said it was better to trade on their own. It is possible to trade on your own, which is greater than the profit from the robot.
In fact it's true because machines really doesn't know what is going on in markets. It's more suitable if you have enough money because benefits are really low and not too much patience and time to stay stick to the screen all the time.
Machines can also be wrong in predicting, because machines are also created by humans.
True. We can face many situations in the crypto market by trading regularly and We can get experience by trading regularly and We can learn a lot of things.
To trade every day becomes a valuable experience and makes us will know the hardest things. Even with small capital, we can trade every day.
Yes, Trading regularly teaches us many things and gives us experience.
I agree with that. Experience is invaluable in trading. With experience we can do our best.
Hi amryksr.
I also like to use the daily chart to estimate the price behavior in the next 10 days, I also don't like to be glued to the chart very often, it is very distressing and time consuming.
At the moment I am not ready to trade with trading bots either, and that I didn't know they had a cost associated with them.
Regards.
Me too, for now not planning to use bots, still like the manual one.
Oh good to hear, ima swing trader but I like trading with the daily timeframe. It give 24hours market fluctuations indicating various high and low points for clear entering.
I also like BNB/ USDT a lot, I have a believe that the asset pair will always give me profit. USDT paired with different assets are good combination and it’s a stable coin.
Yeah that’s true, as a trader in one way or the other, your analysis will fail you onetime and market will move in opposite direction. Even when you set a stop loss level, you will still make losses. But with this failures, we gain a lot of experience and build upon our mistakes.
Good luck and try to visit my post as well.
It seems that you understand very well about traders, while I still don't understand and are not very smart. Because I often experience losses.
Making losses is part of trading, we build upon our mistakes to be perfect.
I also try to minimize losses and work out ways to make profits.
Great man
I would like to encourage you to learn and research more on the cryptocurrency market and what it entails. This will expose you to other trading systems, technical indicators and the like. This would make you confident on your dealings on the market without any fear of loosing funds.
I will study hard again about cryptocurrency trading.