Yo, I'm new as FUCK

Also what should my coinbase distribution be long-term? Right now I have it's like 80 BTC, 15 ETH, and 5 Lite.

Is this fundamentally wrong? Am I greatly undervaluing one of these currencies?

Because you hold each of the coins yourself, theres no institutional drawback to leaving an investment open indefinitely. To compare it to FX, it's like trading by outright swapping currencies rather than trading contracts on a brokerage.

Profits are not guaranteed by any means. Have you ever traded before?

ICO's are usually available on each coins respective website. Trading is available 24/7 again because the trading is not institutionalised in the same way as traditional brokerages are. Exchanges simply provide a platform for people to make buy and sell orders, and generate revenue from fees on transactions.

biz loves crypto because of its volatility. People expect some get-rich-quick ticket because it worked if you bought in a few years ago. Every coin is shilled as the next btc/eth/whatever.

The core of a good investment strategy within crypto is to identify weaknesses. Almost every coin has a promising concept, but after further investigation you will often find that either the product will take too long to get to market, is not user friendly enough for wide spread adoption, the token itself will not increase in value despite the company seeing gains, and so on. Something as simple as a SWOT analysis will take you far here.

Good luck.
Newfag.

They are trying to sell you something. Aren't you trying to buy something?

>Profits are not guaranteed by any means.
But coins like ETP for instance, are inevitably going to rebound, no? Obviously there's a chance that you buy into a coin at its end-peak, but that's generally not going to be likely...right?

>Have you ever traded before?
Nope.

>ICO's are usually available on each coins respective website
I tried finding a chainlink website to see how that would work. I couldn't find the website...but if I could have, what would that transaction look like? I send them BTC through an address and they give me their currency on their website? How can I later trade that currency back to BTC? Or am I not even getting the basics on this?

>Exchanges simply provide a platform for people to make buy and sell orders, and generate revenue from fees on transactions
Aren't exchanges for converting the top three currencies for lesser ones that are still official?

> People expect some get-rich-quick ticket because it worked if you bought in a few years ago.
But people do still seem to make a lot of money on this, despite the fact that the market has stagnated a bit. Or is that just a big meme, and nobody is making profits?

>The core of a good investment strategy within crypto is to identify weaknesses.
That's to avoid bad investments, right? To make good ones you look for strengths?

And thanks.

Also I put a limit thing on a purchase of ETP a few hours ago. The order is now not active. What does that mean? I still have ETP so isn't it still going by default?

>Profits are not guaranteed by any means
I say this because if you trade with this logic you're guaranteed to substantially reduce profits. You need to think about how much money you can make in X period of time, and to do that you need liquidity - money available to invest. Having 0 liquidity because 80% of your portfolio is tied up in shitcoins you're waiting 5 years for a POTENTIAL rebound of is not desirable.

You're right on the ICO front. They will post a deposit address, you send Xcoin to them and they will send you their token in an address you provide, or will give you an address if they arent ERC20.

Yep. Exchanges trade top coins into alts. This is part of why BTC is priced so high: Demand for alts increases demand for BTC,

It is definitely profitable still but again you need to trade with the right mindset. You need to trade without emotion if you want to be profitable, and excitement over "everyone is making money!" drives fomo and panic sells. See pic related, describing the overall mindset of traders amidst a bull rush. Great little paragraph.

>That's to avoid bad investments, right? To make good ones you look for strengths?
To make good investments you look for strengths and weaknesses. A coin can have a million reasons to rise, but a big enough fault will drive it to the ground, and over-excited trading will make you tunnelvision away from these faults. Pick a thread shilling any coin on here and watch as people regurgitate the same upsides while blatantly disregarding any valid criticism. These are the people who will lose money long run.

Nothing is gurenteed. Much like Veeky Forums itself, Crypto is a chaos oriented market. Anti-logic is at most in play.

If I only use coinbase, how will I be able to receive and interact with ICO currency? Should I move to another wallet-platform?

And should I just stick to alts, do you think? These ICO's seem like money-drains.

And what do you make of this airswap thing?

I wouldn't advise sticking with one exchange - keep your long term holds in a separate wallet (Hardware wallet if you're playing with a stack worth protecting). If you buy an ICO and want to trade it, you need to find an exchange it is trading on. Hence, if it doesnt get added to coinbase and you decide to exclusively use coinbase, you cannot trade it.

Take my advice with a grain of salt because you dont want to trade based on other peoples recommendations, etc etc. I think given the pretty consistent drop in token values after ICO now is a bad time to be buying ICOs. They're designed to be profitable for the company producing them, and ultimately the trend in price drops means people wanting a serious stack will be comfortable waiting until after ICO to buy, meaning lower demand at/above ICO price initially, indicating a downside. I dont really deal in ICO's though.

Havent really looked into airswap but afaik its just a cheaper shapeshift.io, or more user friendly Etherdelta. Cool concept but I havent read enough to say buy/sell.

But even if I'm not on an exchange where that coin is trading, do I still have that coin somewhere in the ether? And is there a way to find out what's trading on which exchange?

Thanks again for the help duder. All of this is incredibly daunting, so running into people who are willing to divulge what they know about the game is super cool.

>Do the same day-trading rules of stocks apply to crypto currencies?
no

>Do the same day-trading rules of stocks apply to crypto currencies?

depends what you mean - the only 'rules' are the microstructure of the exchange you're trading on/regulations in place

these vary between stock exchanges let alone crypto - but the basics tend to be the same.. i.e. the general concept of what a limit order is, what a market order is etc..

though if you're talking about observed behaviour that you might be able to exploit - yes and no... you'll probably find some effects that persist across markets - momentum/trend following approaches for example

other methods of trading might seek to capture effects that are more specific to a particular market or one or more related markets

basically, it depends... but prior experience in one, the experience of dealing with the data, looking for inefficiencies and trying to exploit them (and the associated maths re: positions sizes, risk management etc..) is all transferable and useful

more likely because it is new, the audience here is a bit younger than the average investor, generally ahead of the curve - people were talking about crypto on here well before the press started giving it attention... and as a result of that lots of the people who've got in early have made some decent money - whether that was through foresight or just pot luck though having been on here or various internet forums where others have promoted it

whether in the long term the current prices are a bubble, a new version of tulip mainia etc.. is yet to be seen - I don't think the constant creation of yet another shitcoin is healthy and plenty of those will fail/never take off - BTC and ETC are obviously well established though there are still risks as block chain starts to develop... as soon as some powerful groups (either govt or corporations) start endorsing any other 'official' crypto currencies this could start to eat into market share (after all not all of the utility of crypto is from using it for shady shit)

yes you have to follow the pattern daytrader rules if you have under 5 buttcoins.

the platforms have yet to implement this feature, which is why headlines with 'sec' and 'buttcoin' are frequently in the news.

Be very careful to follow these regulations in your own trading, or the sec WILL send you a letter. On your second offense you'll get officer visiting your home. Third offense is a full raid, complete with cavity search. if you use any 'plausible deniability' technique, you will be interned for quite a long time (execution is inevitable)

just play it safe until you have the 5 buttcoins and then you can do whatever the fuck you want. You also gain access to the ant product catalog (nsa) and become deputized under the 3 letter agency of your choice (irs gets the best guns). The kill quota is pretty harsh to be honest though.

Coinmarketcap.com can tell you where coins are trading.

Yep, if you sign up for an ICO, the token will be in the wallet you designated them to send it to. Again, this will be provided to you if it is not an ERC20 token (a token that operates on the Ethereum network).

No worries man. The biggest thing to keep in mind, broadly, is your trading strategy and the discipline it will follow. Look up some basic Technical analysis tools (resistance/trends, Fibbonacci levels, key resistances) that will help you pick entry and exit points a bit together. I know its a bit over-poetic but the paragraph in the pic I posted has a lot to say about exiting in the midst of a moon - Let your profits run but don't be afraid to cash out if things start to reverse.

If something's already taken off for the moon, don't try chase it. Incrementing your profit taking is a great way to secure gains (take 50% at a certain level, 25% at the next, so on).

Biggest tip for you I have of all is that crypto trading, especially in small, low volume coins, is INCREDIBLY manipulated by high volume traders (whales), and they use media platforms including this and reddit to pump and dump coins as they please. Learn how buy/sell walls affect the market, and think about why an institutional investor would push the market in the direction they are. Discussion platforms are still great places to gather information on market sentiment and forecast what manipulators are trying to do (if you see 50 pump threads for a single coin like LINK last night, chances are they're trying to push the price up for a dump, which is exactly what happened).

The people who succeed here are the people who arent looking for a get-rich-quick scheme, they're the ones who follow consistent smaller gains (we're still talking 50%-400%, immense gains compared to other markets).

Anything else you want to know? I want to see you posting about your first million a year or so down the line.

P.S. sorry for shit tier grammar I'm studying while posting

Actually this and everything else about sums most of the field up, it seems.

I guess for the time being, I should avoid investing beyond the three main coins and look into those analysis tools.

>three main coins
BTC, ETH and LINK?

Unquestionably the best decision until you get to grips. Most people rush into it and only start to ask questions once they're down 30%. I'd even stick to just BTC and ETH since XRP isnt really traded against in most places. Good luck mate

P.S. All in LINK

>look into those analysis tools

they're more pseudo science than anything... aimed at people who don't have much of a stats/quant background and/or aren't willing to put the effort in to learn

'technical analysis' is therefore popular with bucktshops, brokers etc.. as it at least gives customers a framework which they can pick up very easily and from which they can start active trading - thus it is very popular and what you'll generally read about in most books aimed at retail traders - whether it actually 'works' on the other hand is a different matter

Maybe 5 years ago that might've been the case, however nowadays the institutional investors has started to input their capital. Before it use to be completely emotional investors where market sentiment is easy to predict other investors shared the same emotions as you.

Now its all fucking bots and algorithms that does all the trading and you get insitutional investors from JP Morgan that crash the price over any small negative news.

This guy is correct, it is basically meme magic. Beauty of the crypto market is because most people arent aware it's a meme, people will actually trade based on TA in a self-fulfilling prophecy kind of way. Hence why I just said basics, dont fall for any of the memes like bollingers, macd, ichimoku or whatever else gets shilled. Key resistance levels are unanimously relevant in all forms of trading, but any tools beyond that are essentially irrelevant. If indicators were that promising we'd see profitable bots trading off of one or two indicators, and that doesnt happen for a reason.

techniques that 'don't work' have value, they increase participation.

>This guy is correct, it is basically meme magic. Beauty of the crypto market is because most people arent aware it's a meme, people will actually trade based on TA in a self-fulfilling prophecy kind of way.

No it isn't fuck off.

All the trading nowadays are either done by whales or institutional investors that fuck the small fish like us.

You can read every quant book under the sun, but clearly you still won't know how to respond to manipulation and market psychology. Trading is mass psychology, algorithms and models might be profitable to some extent but theres a reason whales and institutional investors are trading cryptos by hand - the money's elsewhere.

Drop litecoin it's shit.

Worded that like a fucking retard which doesnt help my case but you get the point

define 'whale'
most of these tokens will succumb to price manipulation by someone with 50 ether

You don't need litecoin.
Go 2/3 btc 1/3 eth.
And I'd recommend buying a sizeable chunk of LINK on the side because it's gonna be huge.

i think you meant 1:2 btc eth

I'm not much of a math guy.

Is it maybe best if I just stick to buying BTC/ETH low and building bank in that manner?

Seems like the best way to play here may not be to play at all.

yup move on unless you're a cold hearted killer. isn't that totes obvious?

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