How to live out of cryptocurrencies and create safe passive income? (Beginner Level)
How to increase balance and maintain continuous profits? (secret sauce)
Well this is the most critical part so hear me out right!
Best thing you can do to keep things simple. Everyone complicates their minds and make unhealthy decisions. Remember healthy decision comes with a healthy mind and a healthy body. Necessarily and unfortunately, it doesn’t come with a healthy soul but you should keep intentions clear because crypto markets are all about instant Karma!
Once you have your Bitcoins in your wallet or on an exchange platform wallet, you will need to deposit them into an exchange where you can trade safely and easily.
Trading and managing your crypto portfolio (your selected coins that you hold) is how you will get profits.
Making risk management, utilizing game theory and enhancing your decision making skills are some points that will sustain continuous profits.
These may sound huge but you will get there by researching and experiencing the market with various circumstances in different cycles and patterns.
I recommend Binance for trading and holding your funds, especially in the beginning. It has most of the volume hence we can call it safer than the most. I also mostly use their trading platform whereas I use many others as well. But focus on Binance in the beginning, you will spread yourself to other platforms as you get soaked into the system and its glamour…
You can also learn all about fundamental analysis, technical analysis, major trade indicators, harmonic price formations, oscillators, Elliot and more economic terms to get the expertise of it but believe it takes so much time and attention. It is a wide topic. No one knows what is right for sure but if you have a system that works for you, it is good enough because only thing matters here is to close positions in profits. Nothing else.
Until you know your way around, you can follow experts in the field who know what they do. You will see by results whose strategy is working out how and try to adapt yourself to their mindset. You can also copy trade and follow honest traders that you trust. These people are mostly on Twitter or Telegram.
You should get Telegram, not twitter. Twitter is used for many things so it’s easy to get lost. But you can use Telegram as the whole crypto community does and focus this little application only for cryptoland.
There are desktop, iOS and Android versions here:
I also run a free group in Telegram where I publish my updated thoughts on the market and about specific projects so that everyone has access to fair information fast and without speculation. We also have VIP research group where all traders around the world discuss decisions and follow market trends so we are up-to-date all the time since it is one of the fastest paced environments, we also have to stick with same level of pace.
On this free group, I also post trading signals which is basically a set of rules on specific positions. You can follow these signals and try out my strategies see if they suit your preferences and analysis. I also post the results instantly so if you are following you will know and be able to act on my notifications instantly.
You can also reach me under Telegram nickname @IKIGAI0112358. You will see me as admin in the group.
Most signals has similar template. Here is an example signal sheet:
- BNB/BTC is the signal parity. In this parity, you will trade.
- Midterm is the signal timeframe.
- Buy Zone tells in which price zone you can place limit-buy orders.
- Sell targets tell in which prices you will place limit-sell orders.
- StopLoss price is the threshold where you will close your position with loss not to lose anymore.
- Most importantly: Take profit at each sell target at least %10 of your position to reduce risk as it gets bigger while price move upwards.
There are simple golden rules that you should also apply while following these signals.
- Always split your orders at least to three. For example if you have reserved 1 BTC for this signal; buy 0.40 BTC from 180000, buy 0.30 BTC from 181000 and buy 0.30 BTC more from 182000.
- Have at most 8 coins in your portfolio if you have less than 10 BTC. If you have more than 10 BTC, don’t have more than 16 including longterm signals. This means if you are in position for 8 signals, wait for at least 1 to close before opening another positions on other signals.
- Try not to go all-in whereas sometimes it can be so attractive, don’t do it. The stress and psychological affect doesn’t worth the reward. You can win this one, but you will definitely lose another and it’s gonna be big so don’t do it.
- Move StopLoss(SL) to buy zone when first sell is reached. Move SL to first sell target when second sell target is reached. Keep moving SL upwards while sell targets are getting hit. If you got stopped with the new SL, move your buy zone to the recent peak level. If price exceeds the recent peak level — which is most probably the highest sell target we met or between the one above; buy and keep SL at the same level. This how you will get the most out of the trade signals.
There are copy trade algorithms as well. But I don’t think they make sense. We are currently working on a fully automated trading algorithm which will be available through safe API connection with trading algorithm embedded inside. So that everything just goes automatic and you just select when you want to be able to withdraw your money. You can choose anytime, once a week, 3 months later whatever suits you. Accordingly you will be assigned with respective profit levels with concurrent conditions. I don’t trust other algorithms out there that’s why I am building my own.