newbie with newbie questions

[direktor1977]

So, I was wondering how you do trading?

1. Which exchanges you use and why?

2. Proces... so first you screen the coins, how? You get signals from somewhere? Where? Telegram groups? Is it reliable? You pay? After screening the coins then proceed to technical analysis or chart analysis? You do daily trading, scalping, swing... what is your method and why?

Thanks for answers.

[Guest JamesOnFire]

On 8/23/2023 at 8:06 AM, direktor1977 said:

So, I was wondering how you do trading?

1. Which exchanges you use and why?

2. Proces... so first you screen the coins, how? You get signals from somewhere? Where? Telegram groups? Is it reliable? You pay? After screening the coins then proceed to technical analysis or chart analysis? You do daily trading, scalping, swing... what is your method and why?

Thanks for answers.

Hello @direktor1977,

1. I use a couple of exchanges. Binance, Coinbase, Gate.io, KuCoin and Huobi. There are two main reasons for using multiple exchanges. The most important one is that i trade man cryptos including some that are not very popular yet so they are not available on big exchanges like Binance or Coinbase but they are available on Gate.io or KuCoin.

Another reason for using multiple exchanges is to do arbitrage sometimes but also to have the funds secured in case that one exchange goes down under.

2. I dont use signals and do not trust signal websites. You know if they have signals why they dont use them to make more money. Thats because the signals are not very reliable on the long run.

I do coin analysis and if I ideintify a growth pattern I purchase it and later on sell it. I do not keep the coins for more than a week. Sometimes when a crash occurs I keep them for longer to not loose much but most of the time i do day trading.

hope it helps

Hows trading going for you so far?

Edited August 25, 2023 by JamesOnFire