In this post, I will tell you the cryptocurrencies I trade and my reasons for trading them.
"Why should I listen to you?" You're probably asking.
Well, I have been trading for about 5 years(I demo traded profitably for 1 year and have been professionally trading for 4 years) and I have found a great deal of success with it, multiplying my initial investment about 30x over over the course of a 4 year period. (Pretty safe to say I know my stuff)
With that out of the way, let's get started!
PS: This isn't investment or financial advice! Remember the post says "cryptocurrencies I trade" not "cryptocurrencies you should trade". Stay safe and DYOR!
Ethereum is gold to me. Without Ethereum, I probably won't have multiplied my account to where it is today. Ethereum's charts are the standard for account building trades, with very simplified ranges and clearly defined supports and resistances.
I strongly believe that anyone who at least has a basic idea of support and resistances and who trades Ethereum (or any of the other ERC-20 tokens that I list here) should never lose money. Seriously.
Why do I trade Ethereum? Very simple. I wish to multiply my account, but based on the USD value of my account, not the Ethereum value. This means that I am willing to lose some Ethereum every now and then in order to gain USD. Probably not a smart move for future purposes, but I still do it anyway. I love dollars!
A lot of anti-tether readers would want to spear my throat for uttering that ticker symbol. But hear me out.
The reason I trade Tether Gold is simple. I know how Gold trades already, and having fractional digital gold is just plain awesome.
See, I used to be a stock and commodity trader before crypto found me. Back then, I used to trade Gold and crude oil as my major commodities, as well as most NASDAQ and penny stocks for fast profits. So I already know how gold works.
The problem is that there is a fixed amount of gold that you can buy. And that amount cannot be below that fixed amount.
But seeing as just about anyone can splash $1700 on some XAUt, it really lowers the barrier to entry.
In fact, you can buy XAUt with BITCOIN. Which is just insane.
That's the major reason why I trade it, and it makes up a whopping 10% of my portfolio
Litecoin has been the basis for several controversial arguments over here on my blog, where some users just couldn't agree with what I wrote about their favourite coin, and decided to insult me about it. Yet, Litecoin is one of the largest occupants of my portfolio, and I won't exchange 1 LTC for 1BTC at the moment.(I would probably exchange it for 2BTC though)
I live Litecoin simply because it ranges like a pro. Litecoin traders usually have psychological levels where they believe the coin should not go under or above, and this leads to a super predictable chart where one simply buys at the psychological support and sells at the psychological resistance. Could making money be any easier?
Of course, there would be breakouts to either the downside or upside, but there's only happens when it happens in Bitcoin, and it hardly happens in Bitcoin.
That's why I love LTC. It's predictable.
Anyway, that's my list. What coins do you trade?
Let me know in the comments!