How to get profit while trading?

How to get profit while trading?

By Kavi | Kavya | 4 May 2020


 

crypto

Crypto trading is not an easy job to make profit as we know the market is very volatile and risk of loosing all your funds. but if we follow few tricks then very easily we can make 30 - 50 % profit margin. 

 

Trick no. 1

Patience and wait:  when you trade and hold cryptocurrency then you need to be assure about yourself that you have plenty of patience ,always become calm and relax in every condition of market activities . This is one of the major key to play in crypto market with less loss and more profit .waiting in trade most of the time became best decision because there are no bad feeling when price go up and you could not make an entry to make a position on right time ,crypto is very volatile where price will gain from 10% to 80% quickly but also there is fact that price will go down at same speed. 

 

Trick no. 2

Market crash and price analysis: There are lots of traders who has no proper knowledge of market but just follow simply price trend from coin- market  or coingecko and ultimately loose their fund less than half .The reason of loosing their fund is that they really don't do any historical research for the particular coins and they take position when market is just crashing .  

 

Trick no. 3

Choose right exchange:  Never ever choose exchange anyhow otherwise you will be paying more trading fees and big difference in buy and sell of option in coins which lead your fund getting more lesser on every marginal trading if you make. There are list of exchanges where you will be paying less fee in every aspect of coins.

  • Binance takes 0.1% trade fees but if the trading done with binance coin then fee reduced to 50% less also withdrawal is 0.0005 btc per transaction .there are no deposit fees.
  • Kucoin trade fee is 0.1 % and withdrawal fee similar to binance . 
  • Bittrex trade fee is 0.2% and withdrawal is 0.0005 btc per transaction.
  • Houbi global trade fee is 0.2% 

 

Trick no. 4 

Control your emotion: Do not fall in love with you favourite coins , exchange , wallet full collection of coins because trading is not about holding your coins for longer time . if you want to hold any coin then always choose top 10 crypto from market which has potential to get more valuable in future.   

 

Trick no 5.

conversion: Never ever greedy when you earning huge profit and you want to continue by transferring your coin to other exchange because of arbitrage .you might don't know why your coin price is much different and high in other exchange ,the most common reason has been noticed because their trading fee and withdrawal fee is high and there are huge gap in buying and selling margin .

And after trade always convert your crypto in fiat currency like USD or any other stable coin like USDT, DAI  which will give you stability .

 

Trick no 6.

Buy crypto with low transaction fees:  This is also very important, when you buy crypto from fiat then try to do some research on comparison . there are some platform like crypto.com which charge lowest fee if you buy it by debit or credit card also if you can check you local exchange which has linked with your bank account where buying transaction  is very low. 

Never ever buy crypto with such platform which can charge you 4.5 or 5.5% transaction fee .

So if we follow all these tricks then very easily we can be a good profit gainer and traders. 

 

 

 

 

Resources:

https://bitcoinexchangeguide.com/lowest-cryptocurrency-exchange-trading-fees-list/

https://www.coingecko.com/en/exchanges

https://steemit.com/money/@profitgenerator/profit-from-crypto-crash

https://steemit.com/crypto/@sirlordboss/adventures-of-a-crypto-noob-7-profit

 

 

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Kavi
Kavi

Chief mentor of 'skill2up.in' and blogging is my passion.


Kavya
Kavya

Hello everyone i am kavya and i love to travel and writing essay, reports and blog.

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