Are you a beginner? You do not know "What is trade coin?? "," How to trade coin here? "," How to trade effectively? ".
Then this article was born for you already!
Now then… let's get started!
What is Trade Coin?
These coins are very volatile, you can make a profit during the day. So it caught the "green eyes" of many trader from professional to amateur.
For many they see this as their official job.
Guide to join trade coin for newbies
1 step: Prepare
- Bank accounts (popular Vietcombank) to buy cryptocurrencies on fiat exchanges
- Trading accounts in VND
- Cold wallet if want long term storage (HOLD)
- Accounts of large exchanges have good liquidity if they want to trade coins
Step 2: Buy coins from VND
You can buy cryptocurrencies (virtual currencies, coins) from the trading support platforms in VND such as:
You can choose Binance P2P to trade coin on Binance
Step 3: Send coins to the floor to trade
Some reputable trade coin and cheap transaction fees:
Details of registration and trading instructions you click on the name of the floor above is offline
Watch now: Instructions to trade coins on Binance
Specialized terms in trade coin
- dump: Means prices fall sharply
- Pumb: Price rose sharply
- Stop loss (SL): Stop loss. When buying a coin, but at a certain time the price does not go up, instead of falling continuously, you feel that it continues to decrease, so you should stop loss. Accept losses and wait for the opportunity when it touches it to buy again, when the price increases, the sale will be in words
- Take profit (TP): Take profits. Ie feel that words like that is enough and feel reduced will sell
- What is support: A place where prices run up
- What is resistance?: A place where prices run lower
- Volume: Volume of transactions, you buy, there will be sellers. When the sale is completed, it is called a successful trade and counts as a Volume
- Long: Buy coin (Used for margin)
- Shorts: Sell coin (Used for margin)
- What is margin: Is a form Trade coin using leverage, usually 2,5 times, the exchange will give you 2,5 times the amount you have. When you have 1 BTC that you trade in margin, you will have 2,5 BTC to trade.
Some experience when Trade Coin
Actually, I'm not a citizen either Professional Trade Coin So here are just some of the small experiences during my trading coin and feel it should be effective to share with everyone. If anyone already has a Pro, you can skip it.
- If you have a little capital, you should choose trash coins to Trade, not trade BTC will profit less. When you have capital of 1 BTC or more, then Trade BTC
- For high-priced currencies like ETH, DASH, XMR, it will usually follow BTC
- Garbage coins will certainly be dominated by Bitcoin, so when BTC drops, the junk coins will rise and vice versa
- In some cases where Bitcoin has encountered bad news, users have the ability to invest through it Ethereum, DASH coin, Monero Coin, at that time this type has a high price. It is important that you judge the psychology of investors
- You guys should remember the Virtual currency trading platform always able to manipulate prices, and adjust the price up and down as they want. In addition, people with large capital can more or less do the price. You have to guess the intention when you see the coin go up and down. This part requires a lot of experience in trading coins.
- New to practice Trade coin only play junk coins, the advantage is low prices, low capital invested primarily to gain experience.
- One of my greatest experiences is "Doing reality"If you lose your money to get smart, you can try and lose about $ 1000 as you would find it much"
Simple trade coin strategy for beginners
Successful trading is never easy for novice traders. Here are the trade coin strategies for newbies. Hopefully over here, you have more knowledge and useful information to trade coins effectively.
This article will discuss some of the simplest strategies for beginner traders to start trading coin. Use market sentiment, trading volume, price movements, fundamental indicators, and charts to identify opportunities.
Before starting to trade coins, it's important to carefully consider how much you're willing to risk. Remember, the cryptocurrency markets are extremely 'volatile', so be as cautious as possible.
The simplest strategy on this list is the "hold long" strategy, which is simply because it requires very little knowledge to succeed.
The rules are simple: buy a coin that you feel will have a promising future and hold it for months or years.
You can buy Bitcoin from any popular Bitcoin exchange with fiat money and just check the price after 5 years (for example).
Unlike other strategies, having to check prices regularly is absolutely unnecessary.
This action should really be avoided to prevent you from fluctuating and selling early because of brief price movements.
Instead, you should only check the price after a long period of time - then you can sell if you have achieved the increase you are looking for.
Hold is certainly not the most effective strategy on this list, and there is no guarantee that cryptocurrencies will continue to grow in the future.
Moreover, it is not always optimal to buy at the moment, as cryptocurrencies are often subject to strong fluctuations in the short term.
Because of this, you can improve your "long-term" strategy a bit by using 'average cost'.
You want to buy 2 BTC, do not buy immediately 2 coins, but buy each one.
The first wave you buy 1 BTC for $ 7.000, then after a few days buy another for $ 6.400, the average cost per BTC will be $ 6.700.
The average cost aims to protect you from a major collapse right after you invest.
This can give you some protection against significant market volatility.
This is especially useful when you enter investment in a current bearish market.
In any case, when planning to invest in a coin, especially for the "novice" trader, we recommend that you do some basic analysis first.
This means checking if the coin really has a reason to grow.
This includes testing your competitors, community interests, and the capacity of the coin development team.
Advice: When it comes to "long hold", sometimes ignorance is blessed.
In the long run, most leading cryptocurrencies will experience both a sharp decline and a significant return.
Avoid checking prices often as this can lead to you getting out of the market too early while it's only a temporary downtrend.
The strategy of "day trading" is in stark contrast to "long-term hold".
It is defined as the act of buying and selling coins on the same day or several times a day, taking advantage of small price movements.
"Intraday trading" is likely to bring huge profits if done correctly due to the inherent volatility of cryptocurrencies.
However, "intraday trading" will certainly be more risky than "long-term hold".
Because it makes it easy for you to lose a significant portion of your portfolio if you miss the day the coin goes down without increasing.
Because of this, when "day trading", it is important to only use the right amount you can afford to LOSE.
And establish appropriate STOP COMMAND to prevent any serious loss.
In the world of cryptocurrencies, everything moves very fast and unpredictably.
Many coins can experience price movements of up to 5% throughout the day, simply due to small changes in supply and demand.
Remember, always keep calm and stick to the plan.
There are many useful technical indicators you can use to find a good entry point for your trade.
Including moving averages (EMA), Relative Strength Index (RSI), and moving averages (MACD).
But you should note that none of these offers 100% effectiveness.
Tip: The value of most cryptocurrencies is heavily influenced by the overall sentiment of the market.
In this industry the old adage of "Buy rumors, sell the truth"Often right.
Want to find a fast-paced trading strategy with the ability to make a profit quickly? Scalping is for you.
It should be noted that the "scalping" strategy is quite similar to the "day trading" strategy.
But it is faster and also more risky and should only be done on high-volume currencies.
With the "Scalping" strategy, the trader will open a position and then close it in the session that day; In other words, they never hold a position overnight.
Whereas with a "day trading" strategy, traders can look for opportunities to enter the market once or twice, even a few times a day.
But the frequency of market participation of a scalper (surfing trader) is very high and they try to make a small profit many times in one session.
Scalping basically allows traders to take advantage of the difference a coin sees over short time frames, such as one, three or five minutes.
Currently, almost all cryptocurrencies with significant trading volumes are volatile.
The only exception is stablecoins like Tether (USDT) and True USD - which tend to be much less volatile.
To make your trade coin work easier, we recommend that you use only major cryptocurrency exchanges.
And stick with the top 30 cryptocurrencies on Coinmarketcap.
Smaller price movements often occur much more frequently than large fluctuations.
With fluctuations between 0.5% and 1% in a minute is common - even in periods of low volatility.
Thanks to this, scalpers can earn themselves a profit every day, regardless of whether the market is up or down.
Scalping is one of the interesting strategies used for trading. However, it is also one of the most risky strategies.
Such a large decline can quickly wipe out all your previous profits. Therefore, the scalper should not ignore the stop loss command.
And this method is definitely not for the faint of heart.
For additional help, you can use volatility indicators for this strategy. The simplest way for a "novice" trader is the Bollinger band.
In addition, you can also use the average of the exact price range (ATR) or the Volatility Index (VIX).
The highest volatility is when the upper and lower Bollinger bands are far apart; Lower volatility is when they are near each other.
For the purpose of this strategy, you should look for the time period when the Bollinger bands are furthest apart from each other to find entry points.
Tip: Scalper should choose the brokers with the lowest transaction fees.
Unlike day trading (trading takes place throughout a day), swing trading is conducted over longer time frames, usually one or two weeks.
Swing trading aims to capture greater profits on a longer time frame than trading and scalping.
This makes it an ideal strategy for beginners.
As a swing trader, you are primarily concerned with daily and weekly charts, and less time is spent than scalpers and day traders.
A smart swing trader will use both technical indicators and fundamental analysis.
To determine whether a coin will experience a significant price swing or be motivated enough to change the trend.
News is especially important for cryptocurrencies, because negative or positive news can easily change the trend of the coin.
When swing trading, it is important to stay up to date with the latest developments in the community, as it may affect the price action of your options.
Indicators like RSI or MACD can be really useful when used in long time frames.
In addition, charts should also be used because they can provide a good amount of information about the coin and when to enter or exit a position.
Swing trading is suitable for those with small to medium investments.
Unlike scalping (and sometimes day trading), this strategy does not require strict stop loss orders.
Although we still recommend you to use a relatively close stop loss order to protect yourself against major declines.
As a beginner, we do not recommend swing trading on margin trading.
Or use leverage, as they should only be reserved for experienced traders.
Tip: As a beginner, we recommend against the trend.
The cryptocurrency market has been in a downtrend for almost a year; Therefore, to earn profit on long positions can be very difficult.
This is the time when you should only play short positions.
Trade coin based on RSI
Trade based on Relative Strength Index (RSI) is one of the popular strategies for "novice" traders.
The RSI is a simple momentum indicator that measures the speed and change of recent price movements to help identify overbought and oversold markets.
Most traders will usually place the RSI in the 30–70 range. If the RSI falls below 30, it means the coin is oversold => the price can recover soon.
While an RSI above 70 may indicate an overbought => potentially leading to a sell-off.
To better understand the RSI, we will look at the example of Bitcoin (BTC):
The RSI (purple line) was widened at 12:00 and quickly penetrated the 30 level mark a few times before the price rebounded.
Just a few hours later, the RSI hit 70 and the price of BTC went into a downtrend.
It looks like this is a strategy that cannot be mistaken, but don't be fooled. RSI is not always accurate.
Because of this, the most important thing is to set your stop loss just below your entry price, which will allow you to exit your position if the RSI continues to decline.
If your stop loss is triggered, you can track further moves of the RSI and other strength indicators.
To determine whether you should revisit the lower RSI to prepare for a spike soon after.
Tip: When looking at 4-hour or daily charts, you should pay attention to the RSI to identify overbought or overbought.
Avoid the Pump-Dump groups
As you continue to research on trading strategies, you will almost certainly come across something called a group of 'pump-dump'.
These are groups that tend to give viewers their unusual profits based on false or often misleading claims.
Typically, pumps will try to hold a large number of orders on a particular asset to raise the price of the coin.
At that time, prices will surge sharply and traders often rush in to make a profit but when a certain point is reached, the 'pumps' will dump (sell off) the coin.
And of course the traders will be the ones who get it.
You may feel that you can still make a profit in such pump-ups, but this is very unlikely and will almost certainly cost you money in the long run.
Tip: In traditional markets, pumping and dumping an asset is illegal, a form of market manipulation by large whales.
16 principles of trading coins to avoid losses for newbies
Here are 16 principles, as well as a bit of trading coin experience that you should keep in mind to minimize losses.
Principle 1: Determining the level of investment capital
Identify the capital spent as idle capital, if lost does not affect life and start with very small amounts.
Principle 2: Determining goals
- TRADER (buy - sell surf)
- HOLDER (long term hold)
- TRADER & HOLDER
Principle 3: Determining the coin market
The coin market is divided into 3 segments:
- Low risk: Top coin 1-4
- Medium risk: Top coin 5-11
- High risk: The coins have good information but have small capital.
I will call 3a, 3b, 3c corresponding to Low risk, Medium risk and High risk in the next sections.
Principle 4: Division of capital appropriately
If possible, 100% of the capital should be divided as follows:
60% on 3a + 20% on 3b and 20% on 3c.
Therefore, segment 3a will be Long-term, segment 3b will be Medium-term and segment 3c will be Surfing.
Note: Do not listen to people who invest all in 3c, if lucky, x2, x5, x10 accounts ... but the possibility of losing money will be very high. "Greed, greed", I keep slowly but surely, do not need much words just hope not lose capital, when you lose capital you will fall into misery!
For example: Capital you have $ 100, if you will slowly x2 account. Now you have $ 200, but if you hurry to lose 50% of capital means you only have $ 50, the difficulty starts here. Now if you want to have $ 200 then you have to x4 account. Not easy at all.
Principle 5: Mistakes when choosing coins
Newbies often make the mistake of choosing cheap coins that they buy because of it, cheap hope it quickly x2, x10 but ignore information that is wrong because these coins will kill those who do not know quickly. .
For example: Coin A costs 0.1 BTC and coin B costs 0.000000050 (50 satoshi) and have you ever thought of what would happen if A and B both lost 1 shatoshi ???. A reduction of 1 Sat is nothing but a decrease of 1 Sat means your coin B wallet has decreased by 2%, is it horrible ???
Principle 6: Intensive capital management
After you invest on the principles of 3a, 3b, and 3c, you should not use all of your equity in one investment for every purchase or sale of all your coins in one sale.
When buying and selling, you have to combine more news and technical analysis, according to the experience, the seniors 20% ahead are technical analysis and 80% are news; Therefore, when the market has no significant news, it is mainly based on technology and vice versa.
If the initial capital is too small to divide so much, you should choose 3a or 3b and HOLDER is primarily, the probability of 3a is over 85% but slowly. And remember, do not buy a peak selling bottom!
Back to the time 1 bit, the old one who used to play FOR - RECEIVED knows the high interest rate is 30% / month, which means that 100 days you have x2 new account, if you continue playing, 100% of your capital is still at risk ro.
In the stock market, there are stocks that you keep in stock from 6 months to 1 year is normal, IPO is much longer ...
Today Trade coin you should not be so impatient will spoil! Do not see others winning big born greed! Sometimes I have to review that I want to buy in the morning with profit (if it is too good), is it too much and too greedy?
More than 10 days ago some people bought XRP at 1 even 130 or 150, until the time the price range of 170 - 100.
But because XRP is a top 3 investment item 3a, you should wait for no more than 100 days you will stop earning capital and at least 50-100% depending on the price at the time of purchase!
So in short, if you want to make money and preserve capital, you must know how to wait for the opportunity. Particularly for 3c group, the opposite is fast and shortened, newbie should not play too big in this segment.
Principle 7: Technical analysis
Many of you are wondering what do technical analysis do now ?! Nothing to worry about, I myself don't know too much technical analysis ... just know what to know!
Firstly, you have to know how to read the candles, the resistance, the support, the resistance, the support,
Street Bollinger Bands, if you like, add MACD that's ok, (who knows more then just analyze, if not, see the analyst and re-evaluate yourself) (the results are not much of a difference with small capital).
These things are on youtube to find out, full of clips that are easy to understand. When analyzing for too long the opportunity will fly away, the careless analysis will pay the price!
Ah! Forget an important issue in the analysis is to pay attention to the analysis time frame of 1 ', 15', 30h, 1h, ..., 4 day ... will give different values in the short or long term.
Well Blogtienao also has a series of articles on Technical Analysis that you can view.
Watch now: What is technical analysis?
Principle 8: Identify news and rumors
Need to distinguish the difference between news and rumors, News is a confirmation that is true, once a fake news, it is a rumor. When you receive a news, you should find out and analyze whether it is news or rumor. The first is to consider the messenger, the original news source and the original messenger credibility, check out more in other forums and comments on this news and don't forget to check the posting time. A reputable person will have many Views, Likes, Followers, Subscribed and many good comments or vice versa, but if you know the person who posted the original news, then nothing is equal.
Sometimes the rumor that many people accept will be good news in the short term (surfing). Recently, a top 1 coin was about to be released on Okcoin and as a result, that coin has nearly tripled from the bottom price! After Okcoin confirmed the untrue news, this coin remained close to x10 because it is the top coin (if it is another coin, it will fall deeply).
Also, you should not listen to the instigations of some pump coin groups, especially junk coins (small volume), this is the rumor of one or some self-seeking people that people like you will be victims. . If your knowledge is limited, you should only invest in groups 1a and 1 little 1b (see previous article).
The following example you will immediately get the problem: Coin Y is priced at 5 Shatoshi, the volume is 100 BTC and in the group informs you 19h tonight WHALE eat goods will Pump to the moon (on that moon). Thus, the "house" in the Pump group only needs to have a hand of around 30 BTC and starts to buy Y coins slowly, until about 19h they buy in bulk, pushing the price to about 10 -20%.
At that time, everyone believed that WHALE had appeared, believed it was real and started buying. Suppose in the group you have 500 people, some people participate a lot, some people are few and some do not participate ... on average, each participant has 1 BTC so the total capital put into coin Y = 0.2BTC x 0.2 = 500BTC, now prices immediately increased by more than 100%.
While 500 brothers are enthusiastically buying in, but does anyone know that the Y coins they are buying in are mostly from the "dealer" released to you to deposit, the house is safe and has doubled your account. What will be your fate ??? We step on each other to live, kill fellow subjects ... those who get out early will be 50% profitable, 40% ... 10% or lucky to draw capital, most of the rest is broken.
Thus the number of people with little profit still believes that WHALE pump is real, the rest blame themselves on the order too slowly, most importantly, the reputation of the "house" is still intact and 500 brothers continue. be taken advantage of in the next games. It is pitiful. The figures in this article are for illustration purposes, if this Group Pump has several thousand people, the consequences will be even worse.
In short, the news that pump (not 100% is all bad) must be checked, re-checked its truthfulness many times and important should be received from ACEs who have "mind" and are reputable and decisive. The last is you.
News and rumors after confirming the truth to how much% and need to combine with a little technical analysis that you can confidently fight alone.
Principle 9: Self psychology | Time Trade Fund | Ways to enter and order
Psychologically, you must be really strong, if you want to know that knowledge from item 1 /. to 8 /. in the previous 2 articles. When the market fluctuates sharply, it is necessary to determine temporarily which peaks and troughs, immediately determine what to buy and what to sell at once, when deciding whether to make a definite buy-sell or long-term hug and decide if not. regrets!
Trade time fund: should spend a reasonable time for each way of fighting TRADER or HOLDER. (Now you work as an office worker on 8pm, the salary is only about 5 million VND / month). Also spend a lot of time researching the coin information I have and will hold.
SELL / BUY orders: you need to determine how much capital for that order, do not enter by emotion, for example the number of 10, 100, 1000 ... will not control the efficiency or damage caused by that order. You must specify this command $ 10, $ 100 ... or 0.01 btc, 0.05btc, 0.1 btc ... until the profit (loss) of 10%, 20% ... also know how effective or how much damage. Sometimes you hold up to 10.000 A coins, when the doubling price thinks you have a big hit, it turns out 10.000 A coins cost only 2 $ for example!
On SELL / BUY orders you should turn on Bollinger bands and determine temporary peaks and troughs. When you want to buy, you should set a little higher than the bottom price (can identify more bottom 1, bottom 1 ...); Similarly, when you want to sell, sell a little below the peak price (can identify more peaks 2, peak 1 ...). In short, you can buy several times and sell many times (so it should).
Principle 10: TAKE PROFIT (take profit) & STOP LOSS (stop loss)
You have to determine in advance this problem when entering the potential order will win by how many% and reduce how much% to cut losses (combined with long or short-term strategy). Maybe you set a goal of 10%, then latch and cut 10%, it will be correct but not enough.
Usually you consider the Bollinger Bands to see if the price is top or bottom (short and long term) + Current news whether it goes well or not.
The floor fee is small, not large, not large, but to be aware of it, some ACEs come into the atmosphere a little later to see the negative account because of the wrong charge. For example, if Bittrex floor has a fee of 0.25%, then you have to charge for a purchase of 1 x 0.25 = 2%. When entering the Sell order must be greater than 0.5% to be profitable. Quick calculation tip easy to understand: you take profits and cut losses 0.5% for example, then just take the purchase price x 8% or purchase price x 92% will have immediate results. Unless urgent landing to preserve capital, surfers should profit 108% or more, too low just do everything for the floor.
Example 1: The price has bottomed out but this decline is merely a correction, in addition there is no news so bad, what should we do to cut the loss even if it has decreased by 10%?
If it is sure that it will fall further, sell stop loss and buy back at a lower price.
In addition, you should have the DCA method (average price).
Example 2: Buying 1 coin A bought at $ 100, now it drops to $ 80, you buy 1 more A, so you will have 2 coin A at an average price of $ 90 ... and so on if You have faith with A. When you sell too to avoid premature or loss of appetite you also split up selling prices gradually increasing from the price that feels like taking profits.
Principle 11: Cow trap | Bear trap | Fire account
Sometimes you will see a coin increase rapidly and also horrified (and vice versa) this is when WHALE set traps, those who lack experience, knowledge, psychological weakness will be trapped, or buy high prices and then fall carpet, or sell extremely cheap prices and watch the coin has just sold soaring.
Usually, the Margin players who play big when the account is burned also have the same phenomenon, the price in an instant drops deeply and then increases again. So when the market fluctuates and predicts there will be many accounts will burn, the order to buy cheaply a bit will have many surprises!
Principle 12: BUY WALL (buy wall) | SELL WALL (wall for sale)
Buy and sell walls are the places that are blocking buying or selling prices with a sufficiently large or very large quantity. Usually this information is for reference only because you have to know that when the giants want to scare you into their trap they will place this stop and you must know that this order has the right to cancel. anytime before the order is matched.
Therefore Buy Wall or Sell Wall can be real, it can also be virtual. I myself refer to this indicator and are worth about 20% or less in the decision.
Principle 13: SCAM and the need to know
All your personal accounts: email, facebook, zalo, telegram, trade account, blockchain wallet, bank account, including your laoptop, phone and your usual SIM ... are all money, so Must be secure and maximum protected, turn on 2-layer security, absolutely not be foolish to provide any information about the account or message on the phone even when you need someone else's help ==> Toàn all are Scam.
No matter how successful you trade, when Scam is equal to 0 and obsession can not be forgotten! Pay special attention when bringing your phone, Ipad, Laptop out for repair.
Principle 14: Distinguish between raw news and rumors
Raw news and rumors that have not been filtered from abroad, I have many, need you to collaborate and analyze more to support everyone to win, alone too much to understand incessantly. The original is in English on reputable websites and tweeters of some CEOs of some coins. Everything is completely free because you know you have more income and I have not lost anything!
English, you do not have to worry, use the CHROME browser to open and right click to translate into Vietnamese, but it is important to understand the article very confusing when the forecast is reduced but you understand that the increase will come. will come! This myself is often confused because no one is sure it increases or decreases!
Principle 15: Price fluctuations BTC
Trade coin should pay a little attention to the price of BTC because when Bitcoin fluctuates, the altcoin market is more or less affected. There is no clear rule that is negative or negative with BTC and there are more than 700 coins, there will be ups and downs, just be aware that it is dynamic to not be too nervous and calm. see what to do next or simply wait.
Principle 16: The last important rule
You have the right to see what others have to say and analyze ... but believe it or not, it is up to you. Should see for reference + your knowledge = income.
Tin Dump or Pump Valid for how long and should be considered in the short and long term. Many of you buy in the morning, then complain about it again ... increase the next day ... Or buy the next day, increase 5-10% and you do not know how to evaluate not to surf so the next few days will be deeply reduced! Also complain!
You should create your own knowledge. Create yourself a fishing rod that goes fishing instead of having to go every day to ask for a fish to eat is very dangerous.
Limitations should not ask someone to buy and sell what! And I can't answer such questions myself!
News and rumors are a double-edged sword that can help you today and kill you tomorrow if you don't know the screening platform!
Solution for people who do not have time to learn trade coin
If you do not have time to learn trade coins, or analysis. Then you can refer to the signals from Blogtienao's official trade coin channel (Trade Coin BTA)
These signals are 100% free. Of course the signal is not 100% true.
So you have to allocate capital and combine with your own knowledge to be profitable.
To become a professional trader is not easy, a few days are possible. With the article "What is Trade Coin? Learn the definitions and basic concepts"I will just stop there Trade coin guide .
To become a pro and make a profit from Trade coins, you need to learn, work and lose money many times before you can gain a lot of experience. Good luck.