if you’re new to crypto and you’re feeling overwhelmed then this article is for you when I first started with crypto there were certain things that I wish I knew and in this article .
I’m going to reveal what those things are and how they can ultimately help you to succeed in your new trading Journey you’re going to learn how to buy and sell crypto.
How to choose the best coins you’ll understand how much money you should be allocating into each of those coins and then lastly. I’m going to give you a strategy which will show you exactly when to buy and when to sell those different cryptos before getting into.
Whale School – Learn Crypto Trading
This article whale trading school. Which is my free course is going to be going live on Wednesday you’ll get 60 videos worth of content which will teach you how to trade and navigate the markets not only. That but you’ll get live Workshop sessions which will give you additional.
Alpha in and you’ll get a community which have been through what you’re going through. Right now they’ll help you along the way so that you can succeed in your crypto journey and you’ll have access to them on a daily basis in Discord be quick. Because we have extremely limited spots available they are running out quick you can get the link in the description below fill in your email address and I’ll see you guys there now let’s get into the rest of the video how do you buy and sell crypto well the first step is you’re going to.
How to Buy & Sell Crypto – By Bit Tutorial
Need to sign up to a crypto exchange now we have multiple different partners.
Which we do endorse and we recommend to use these as these are safe exchanges to work with the one that I’m going to use for this example is bit so. if we have a look at the screen over here I am on bit right now I’ve signed up and I’ve already clicked the deposit button and deposited money into that exchange now you need to go through to the section.
Buying and Selling crypto
Where you’re going to buy and sell now remember you get different types of ways of buying and selling crypto. One way is buying spot simply means that you’re buying the underlying asset and you’re not using any form of Leverage so to do that you’ll go through to trade over here you will click on spot trade.
There it is and it will take you through to a platform that looks like this with a user. interface that has a whole bunch of different information now. I don’t want to overwhelm you with the information all that you need to focus on is that you have the right coin.
Selected number one so in this instance we’re going to buy some Bitcoin you can see it’s got. Bitcoin selected on the top over there and then if you move over to the right hand side you can see we have selected spot.
Spot means that we are buying the underlying asset so if you go through to the below section you have an order price now. if you want to set orders for lower prices to get in at a better price based on a pullback you can of course adjust this information over.
Here if you leave it as is you’ll be buying in at this exact price so the way that you can scale. Your position is in two different ways number one you can.
How to Scale into Positions
Use the slider bar which will determine how much Capital you have in the account if I slide it all the way to the right hand side it shows you over there .
Buy buying 0.02 Bitcoin which a usdt value brings it down to $1,00 $999.95 the alternative is that you just write over here.
How much you want to buy do you want to buy $500 then you can do that you can click buy bear in mind this is called a limit order a limit order. Means that you’re buying at that exact.
Limit & Market Orders Explained
Price that’s stipulated over here if you want a quick execution and entry into the market. You need to do what’s called a market order which is this button over so let’s go ahead and do that. I’m going to buy $500 worth of bitcoin click buy everything looks good it all checks out we say yes by Bitcoin and that’s it.
I have Bitcoin now if I go through to my assets over here click on spot you can see here are my spot positions right.
I have Bitcoin uh you can hide the zero balances I’ve got my Bitcoin position over here 0.013 Bitcoin if you want to view which accounts have been funded well you’ll need to go through to this section over.
Here which says overview underneath that you can see your various different
accounts you got funding spot derivatives and usdt . Derivatives in order to fulfill a spot buy there will actually have to be capital in that account so. if you are struggling and you’re finding that it’s rejecting there’s a good chance.
That there’s no uh capital in that spot account and therefore all you need to do is click on that and go through and make a transfer. if you want to move money from one account to another. You can have a look at the top right section over here it says transfer your option is either to click that button or you can come through over here and you click.
This one it says transfer when you hover your cursor above it so. I’m going to move some of the spot to the derivatives account so again we’re going from spot and we’re moving it to derivatives. I’m going to move $500 so I’ll click all of it over there and then we click confirm and that will simply move that money across there you go transfer complete. That money has now been moved into the derivatives account which is where we do our leverage trading which you’ll learn about in whale school next up in this.
How to Choose the Best Altcoins to Trade
Segment of the Article I’m going to show you. How to choose the best coins when it comes to making your decisions of which ones to get into the market. if you have a look over here I’m using coin gecko. Now you can use other platforms another big one is going to be coin market cap but I just like coin gecko.
There’s not really any real difference it gives you a whole list of different coins over here you’re also able to create portfolios. So if you want to go through to portfolios you can save coins over.
There on your watch list which you can monitor going into the future now you’re actually able to take this platform to the next level and really use it like a professional and this is typically the way. That I do it you’ll notice that as you progress into this bull run you’re going to pick up a lot of different calls and information.
influences people are going to start to say buy this coin buy that coin. it’s going to go up a 100 times it’s going to go up a thousand times and I want to give you one tool that I wish I knew when I started with crypto. Will show you how to prove whether this is going to be a good coin to get into or not and simply put it’s by pivoting the chart and looking at it in terms of Bitcoin valuation as well as in terms of Ethereum’s evaluation so I’m going to start over here with this coin DEC now.
Trading Altcoins – Decred DCR Example
Deed was a big name coin back in the prior. Cycles all the way from 2017 and when you click on that you can see the current price you can go down over here and you can actually see a price chart and surprisingly. it actually did pretty well now it went all the way up to $123 in 2018 and then in the next cycle. Which was 2021 it went all the way up to $233 this is actually not typical of what you expect in a bull market usually.
These coins fail to put in a higher high in the following cycle now what’s important about. This is you may look at this thinking that well this is a super strong candidate and you should be buying and holding. This for the long run but this is where the magic comes. I want you to to go through to the top section over here and click on the settings and then you’re going to Pivot and change the currency. Bitcoin so under that you’ll click over there BTC change that through to bitcoin once you click on bitcoin. it’s now denominating it in Bitcoin terms which means it will show you is this coin better to hold than what Bitcoin is or should you rather just be holding Bitcoin.
Looking for something stronger well if you scroll down and you have a look at the actual chart it tells you everything you need to know and this is the story right it did perform well against. Bitcoin in 2017 and again in 2018 but ever since then it’s just been bleeding out against Bitcoin losing.
Bitcoin denominated terms which means that you would have been better off just Holding. Bitcoin so although when you look at the USD value it looked pretty good and you might even think to yourself right now this is something to hold it’s telling you a different story. Bitcoin terms you’re actually losing money and you should rather be holding. Bitcoin now of course you can do exactly the same thing when comparing against Ethereum and the reason that we do this is simply because Bitcoin and Ethereum.
The Blue Chips of the crypto market and they’re ultimately going to be your safer place so if we move over here. Ether and we click over there we’re now measuring in Ethereum terms and you’re seeing very much the same picture over here in Ethereum terms it continues to bleed towards the downside these proving and showing you that you’re better off just holding either Bitcoin or Ethereum now what about an example of a strong.
Coin what should that chart look like against Bitcoin and against Ethereum one coin that I can think of which is outperform the majority of coins.
Trading Example – Kaspa KAS
Cycle is going to be Casper so if you have a look at Casper over here. I’m going to again move the settings into USD so we’ll have a look at USD. if you look at it here we’ll put it on the max time frame you can see this chart has literally just gone up but what about against. Bitcoin has it gone up against Bitcoin well you can find out for yourself s by changing the currency again to BTC once you move that to bitcoin. over there you go back have a look at the chart over there and you can see in Bitcoin terms it’s outperforming the market.
Completely this is a strong one which you would have wanted to hold let’s go look at Ethereum just to double confirm that it is outperforming. Ethereum as well so if you have a look at this chart of here. This is a prime example of the types of charts that you want to be buying because it’s outperforming Bitcoin Ethereum and the US dollar denominated currencies.
it’s a good one for the long run so the third point I’m going to show you how much money you should be allocating into each of these different coins now this is something. That even your top tier celebrities do not understand so pay attention to this one. it should really change your perspective on the market. I think it’s a valuable piece of information which will take you a long.
Coin Gecko – Comparing Altcoin Market Caps
Way so if you have a look at the chart over here again we’re looking at once. Again coin gecko the same info is going be on coin market cap and you can see all these different coins right you can see. Bitcoin is at $ 36,525 you also have Ethereum shortly after Bitcoin.
Over there and that means that ultimately these are your strong Blue Chip coins which are unlikely to sell off 99% in a major dump so if you scroll all the way down to the bottom you’ll see. I’m at coin 2445 and this one’s market cap is only half a million.
What does that mean well simply that means that if one player comes in and puts another $500,000 into this position over here you would have doubled. This coin’s market cap now that means that this coin can go absolutely parabolic if a lot of money. Flowing into the market but the inverse is also true if these players start to dump.
These coins you only need somebody with $100,000 worth of these coins to start to sell the position and this coin can easily go down 99% from here. What does that mean it means you want to control how much money you’re putting into different coins you want to go in with the frame of mind understand. That if you see a coin being promoted by somebody on YouTube or on Twitter or on Instagram you can go through to this
platform over here you can do your research and you can have a look if the coin is under a $1 million market cap well. That is extremely low we consider that as a micro cap typically your safer plays are going to be the coins that are $1 billion or higher.
Structuring Your Crypto Portfolio
How should you be structuring your portfolio. Well this really depends on you as a person and your risk profile everybody is different we’re all different ages and we have different.
Backgrounds different responsibilities in life so it’s completely dependent on you typically those who want to play it safe within crypto well. You probably want to stick with the majority of your portfolio most notably 80 to 90%. Your portfolio allocated into these coins that are in the top 10 right the top 10 by market cap so it already arranges it for you in order these are the least likely coins to go down 99% in the event of a major sell off in a strong bull market.
When you do have a major pull back these coins typically go down in the region of 20 to 40% now if you’re somebody that’s seeking a lot more risk and ultimately you’re playing with money that you can afford to lose and you don’t mind losing well.
You might want to be going further down this list and looking all the way towards those super low market cap coins. Those that are operating under1 million and you might want to allocate maybe 30 40% towards this and 60% towards the top 10 coins before. We get into the final point which is my easy to use strategy. Which will show you when to buy and when to sell these cryptos. I do want to remind you to join what school which is my completely free course. it’s valued at $2,000 and you can see many of our members have absolutely been crushing it. if you look at the results over here they’ve been making massive amounts of profit and lives have been changed from this course. It’s yours for completely free all you need to do is click on the link in the description below and sign up.
How to Use Trading View Charts & Indicators
The strategy the first thing that you’re going to need to do is get a trading view account. Once you type in trading view into your browser you’ll come through to a screen. That looks like this uh they are currently running a special. What you’re going to do next is you’re going to look at the search function over here you’re going to type into the search section go from people and move it over to symbols. Then you’re going to see a whole lot of different options now type in the ticker.
Which is BTC for Bitcoin and then we have USD you can see over here it shows you all the different exchanges now it depends on what exchange. You’re trading on typically you want to select the chart that’s in line with that exchange so I’ve been trading on bit so I’m going to go through and look for the bit exchange and now that.
I have it I’ll say launch chart and I’ll click on that that will bring me through to the chart for this strategy.
We’re going to be using the daily time frame so you go on the top section. Over here for Bitcoin you’ll click daily so it moves through onto the 1day time frame and here you can see bitcoin’s recent price action. Next thing that you’ll need to do is you need to type in the EMA level so EMA.
You’re going to type in moving average exponential. it’s under my favorites over here on. There is a lot of them that you can use just make sure that you use the one that says moving average exponential click that twice and it will ultimately put two of those onto your page now you want to go through to this and change this settings.
We’re using the 21 EMA which I’m putting in yellow there we go and then on the other one we’re using the 50 EMA. There we go which I’m putting in red now that you have the EMAs. on your chart this is how the strategy.
When to Buy/Sell Coins – Simple Strategy
Works this is how you’re going to look for buy and sell signals so remember.
We’re on the daily time frame we have the 21 EMA. Which is in yellow and the 50 EMA which is in red now the EMAs will help you to time your entries and Understand.
When the price action is moving in an uptrend versus. When it’s moving in a down trend now you want to buy as the uptrend begins and ride the momentum till the top and then when.
it starts to turn back down you want to sell into the down trend and exit the market so this is how it works if we look at the prior cycle we have Bitcoin over here and the EMAs. Work as follows as price started to get above the EMAs it pulled the 21 EMA above the 50 we call that a golden cross. This happened at a price point of $1,000 and it would have held you into the market all the way through now the criteria to confirm.
Whether you can stay in the market is as long as price is above the EMAs and the EMAs are angled towards the upside and continuing in that fashion you hold your long positions. You stay in the market so that’s a Buy Signal you stay in the market and you hold that all.
All the way till the top so you can see over here price doesn’t ever go back below those EMAs and they don’t turn down this one gave a bit of a warning signal.
But essentially that is still strong support and it continues to rise towards the top side and now you can see price action is starting to lose those levels and your very first candle. Where it crosses to the downside occurred over here at $49,800 now. I can tell you most professional Traders did not at the market at $449,800 most of them probably exited all the way down around $20,000. Which we now know was pretty much close to the bottom of the market cycle so criteria for exiting you can see the candle comes down. Starts to roll those EMAs over the 21 crosses below the 50 and price is holding below that level on this candle over here is once the cross occurred and that’s your signal.
Exit the market and then we move into a bare Market from that point onwards and now you have four easy to use strategies
