Basic altcoin trading strategies

[Be Honest]

Investors who prefer to invest in altcoins can take advantage of the advice of experienced market players to reduce risks.

Most investors get acquainted with the world of cryptocurrency through bitcoin, the leading digital means of payment. However, later they start taking an interest in other coins. In general, investors are attracted by the altcoins. Experts warn against errors when investing in this cryptocurrency, and give advice on how to minimize risks in this situation.

[VictorDeni]

Investors who prefer to invest in altcoins can take advantage of the advice of experienced market players to reduce risks.

Most investors get acquainted with the world of cryptocurrency through bitcoin, the leading digital means of payment. However, later they start taking an interest in other coins. In general, investors are attracted by the altcoins. Experts warn against errors when investing in this cryptocurrency, and give advice on how to minimize risks in this situation.

Invest in an altcoin during the ICO

According to experts, you should try and get in a presale or buy early in the ICO to get bonus tokens. Right when the coin hits the exchange watch to see if it immediately spikes. If it does, sell when you have made what you feel comfortable making. There is a good chance that the coin will not spike when it hits the exchange. If you had gotten the coin at the presale price then you will still make a profit of 50% – 100% depending on the deal you got. When you are using this strategy, experts suggest buying into a few coins and not putting all your cash into just one.

Wait for a coin to hit the exchange and buy it when does its initial dip

Some analysts believe that you will most likely get it cheaper than anyone from the ICO sale. The reason a lot of these coins dip when they hit exchanges is because presale buyers and those that received free coins for helping market the ICO are dumping coins on the market. This may skew the actual market cap of the company.

It is worth turning to technical analysis

Let the altcoin hit the exchange and watch it through its initial spike and dip. Analyze the charts and see how it starts to move against chart indicators such as MACD, Signal and basic technical charting. See if any candle chart patterns form that will give you an idea of its direction. Watch the volume to see if it is increasing or falling. Continuously judge the market cap against other coins to determine if the coin is over or undervalued. For this strategy you can also do a lot more research because this is more of a longer term method (not necessarily long term or buy and hold). Check the company website for updates on their roadmap as this will affect the coin price, sometimes drastically.

[Mr. Cid]

Thank you for sharing this method! It helps me a lot and during my first one month of trading, I managed to 35 USD.

[Newbie_trader]

Investors who prefer to invest in altcoins can take advantage of the advice of experienced market players to reduce risks.

Yeah, but there are times that their advice does not fit into the investors' trading budget.

[Mr. Cid]

Yeah, but there are times that their advice does not fit into the investors' trading budget.

As a trader, it is our responsibility to do our research. We should not easily believe what others are going to feed us. Some of them are just a nuisance.

[Chinajax]

Most of the trading strategy is based on technical trading tool I mean trading indicator. But, I believe only trading indicator may not able to represent the data of world financial status. This is way, I use most dependable trading strategy price action. I have learned this reliable trading strategy through video tutorials of TradingBanks basic and advance.

[Chinajax]

In no way forex trading is safe. There is always risk involved with trading. Even if a trader has the luxury of a mentor, that does not mean he is safe from risk.