In this article, we will describe some basic terms for beginners in crypto trading. It is important to find out the basic facts about trading before you begin. We will go through where you can find news about crypto trading, some common strategies, where you can find charts and analysis, which subreddits and other social media channels are worth following, what crypto trading bots there are and some games you can use to learn more about cryptocurrency trading. We cover all of this in the following subheadings.
1. Cryptocurrency trading news
2. Crypto trading strategies
There are a variety of crypto trading strategies. In this section we will only mention day trading, swing trading or trend trading and HODL which are some basic strategies.
Crypto day trading is the most advanced and time-consuming trading strategy of these. Many bases their decisions on technical analysis and use crypto trading bots. The expression comes from the fact that the strategy is so short-term that one starts to buy and sell the crypto currency during one day.
Swing trading / Trend Trading
Technical analysis + Fundamental analysis.
Crypto swing trading is very similar to crypto trend trading. That means finding trends that last for days up to weeks and sometimes moonlight. These can come from trading psychology, which is often due to several technical indicators triggering a purchase or sales signal. It can also come from the fact that there are major fundamental events for the crypto currency. Therefore, it is important to keep track of both technical and fundamental analysis if you are to learn crypto swing trading or crypto trend trading.
Crypto HODL means that you buy to stay for a long time, which is usually about 6 months up to several years. It is important to understand and know the different crypto trading strategies. We believe you should learn all but just use one or two and master it. In this way, it is easier to gain an advantage over the market.
3. Crypto trading charts and analysis
It is important to follow chart and analysis for a cryptocurrency trading.
This is especially important if you intend to become skilled at technical analysis that usually involves trading in the short term. Technical analysis means analyzing the graphs to find different signals to buy or sell a crypto currency. There are many good sites to find different charts, but two of the largest are Coinmarketcap and Coingecko.
The absolute largest site for crypto trading charts and price updates. It contains a lot of information on historical price trends, trading volume, circulating supply, social links, trading volume per exchange and more
is also a large chart site with similar information as Coinmarketcap. In addition, they also have developer status, social status, chain status and Gecko ranking.
4. Crypto trading software
There is many different software that can help you with your trading. It depends a lot on which strategy you choose to follow, how active you are and what software that suits you personally. In this article, we write about Cointracking which allows you to keep track of your portfolio if you use several different trading platforms. Also, we will cover, trading view which is a tool that all technical analysis traders should have.
This is a software that helps you keep track of your portfolio if you use several trading venues. In addition, Cointracking is a good software for getting help with tax reports.
This is the most popular chart analysis software for crypto trading. It is very useful for technical analysis. It also has a social function where you can read about others who publish their trading strategies.
Reddit and other social media can be very useful and informative channels to stay updated on any topic and in this case crypto trading.
Crypto Trading Subreddits on Reddit
This is a general subreddit on cryptocurrency trading. The subreddit is very active and has a huge community.
This is similar to CryptoMarkets but is focused on only Bitcoin.
This is the largest company with focus on only cryptocurrency trading
Ethtrader is the largest cryptocurrency trading subreddit for Ethereum traders.
Crypto Trading on Twitter
Ran Neu-Ner: @CRYPTOMANRAN
Ran Neu-Ner is the host of CNBC’s Crypto Trader show. He also founded Onchain Capital.
Philakone is a popular crypto trader on Twitter who publishes crypto technical analysis and sends live trading sometimes.
Luke Martin: @VENTURECOINIST
Luke Martin is the biggest Twitter account for crypto traders. He regularly updates crypto technical analysis with charts and comments.
Crypto Trading on YouTube
6. Crypto trading bots
Crypto trading bots are software that will execute trades on pre-defined criteria programmed by you or anyone else. You can either buy a bot ready to automate your trades or you can buy access to platforms to create your own bot.
Haasonline is an automated trading platform for cryptocurrency trading. When you buy Haasonline you will access to bots, insurances, safeties, indicators and more.
Cryptotrader is an algorithmic trading platform for cryptocurrencies. Cryptotrader offers cloud based automated trading solutions including backtesting, email alerts live trading bots and more.
Cryptohopper offers automated crypto trading, mirror trading, trailing stops, paper trading, strategy designing and more.
7. Cryptocurrency trading games
There are a few games you can learn how to trade cryptocurrencies.
With AltcoinFantasy you can learn how to trade cryptocurrencies for free and win prizes at the same time. Altcoinfantasy offer different contest by different sponsors.
Sparkprofit is an app you can use for free for cryptocurrency trading and another asset trading. It’s completely free to use and you can win real money.
Several trading platforms offer demo accounts to learn how to trade. At eToro you can open demo account and get virtual money to use to train cryptocurrency trading. There are no prices in this app.
Further Reading: Top 3 Ripple Trading Platforms for US customers