If you’re looking to Bot Trade the crypto coin Groestlcoin (GRS) then we have details on how to do that below, trading is much better than holding (or hodling as some say) as you can increase your investment sum as well as the value of that investment over time. So you can trade Groestlcoin (GRS) and other coins too if you’d like and increase the balance that you have of that coin, all while the value of that coin increases too which means very big profits.
Trading Groestlcoin (GRS)
So the best way to trade Groestlcoin (GRS) is to follow these steps, we cover all that you need to know for trading Groestlcoin (GRS) and other alt-coins so that you can make easy profits:
- There are a few different accounts that you are going to need to open those first, the first is Binance as this is where you will be trading your Groestlcoin (GRS). Binance is easily the best crypto trading platform as it has by far the lowest fees, has the best coins and is also very easy to use.
- The second account is Coinbase, this is where you buy the initial Bitcoin (you trade in Bitcoin so use it to buy and sell Groestlcoin (GRS)). We recommend that you start with a small amount while learning to trade but enough to cover several concurrent trades as you need those as you’ll never be 100% successful in all trades so you need a good amount to allow for the occasional one that goes bad (they’re not bad for long though as you just hold these until the price increases so that the bot can sell them), so we recommend $150 to cover this.
- Once you have bought some Bitcoin you simply need to send it to Binance so get your Bitcoin wallet address from Binance and then use that on Coinbase to send all of the Bitcoin to Binance.
- So once the funds have arrived you are ready to start trading, but in order to do that you are going to have to understand indicators as these are what are used to signal that a buy or sell is needed. The best thing to do is to go to TradingView and use the interactive chart for Groestlcoin (GRS), have a look at the indicators for data like RSI, MACD, SMA, EMA and Bollinger Bands as these can all be used to signal your bot to buy (or sell). So the best thing to do is to simply play with those indicators and try to match them up to the highs and lows of the Groestlcoin (GRS) price, so for example when the RSI is low the price is generally low or you can use crossovers for indicators like MACD, SMA or EMA as they usually indicate a price increase.
- So once you understand the indicators (just experimenting on TradingView is easily the best way to do that although there are lots of guides online) you are going to need a trading bot and by far the best is Profit Trailer. This is because it’s very fast and effective, most bots are slow and so miss opportunities or sell too late and so can ruin your trading business but Profit Trailer is so fast and effective so is easily the best choice. You will need to download the bot and run it and then set it up, you will need to enter your Binance API keys and then set up your settings (see the Profit Trailer Wiki for great information on that).
- So enter your settings and use the Wiki to understand them, use those that you have used on TradingView and that you can see work for Groestlcoin (GRS) which means a very high chance of success. Even if you are only planning on trading the one coin (Groestlcoin (GRS)) you still need to have several Groestlcoin (GRS) positions open so be sure to use a percentage of your balance like 10% for each trade as not all will succeed (they will eventually but you will have to wait on the failures for the price to increase enough to sell again, which the bot automatically does), so having lots open means that most will succeed so you keep the trading going at all times which means more profit.
- You then need to have a selling strategy and Profit Trailer can use lots, we find though that a simple Gain amount with the trailing feature turned on is the most successful (so it will sell at likely the highest amount possible before the price falls back down). So if you are only trading Groestlcoin (GRS) it’s much better to trade rather than hold, see Compound Daily for an idea of how you can grow your investment, at the same time as the price is generally increasing over time too so huge profits!
- To withdraw your profit you are going to have to transfer Bitcoin (or any other altcoin that Coinbase support) back to Coinbase and then transfer the funds to your bank account from Coinbase as Binance don’t allow you to withdraw to a bank account.
- Don’t withdraw all of your funds though, it is better to keep it growing and so withdraw a small amount like 20% per month so that the total investment grows and so do your profits.
- Lastly, don’t fall for any scams as there are so many in the crypto world, the companies mentioned here are 100% safe and that’s easily verifiable online as they are huge companies. If something sounds too good to be true, it is!
So that is how you can Bot Trade Groestlcoin (GRS) and make a lot of money doing so. Holding does just that, as the value of the coin increases you obviously make money, but if you are trading Groestlcoin (GRS) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on Groestlcoin (GRS) Trading
Before proceeding to invest, analyse the trading volume of the coin to have an idea of its liquidification or activity. Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger.Always buy your new crypto coins when they are at their dip to make most out of it and Never ever buy them when they are approaching their peak price. It’s obvious but a lot of people still do this mistake of buying coins at their peak and then end up losing all the money.
The Key to making huge profits lie in the new coins which blow up at any time. Who knows you will find next BTC or ETH and end up getting Audi in just a year time. In this article, we will discuss some key factors you have to keep in mind before investing in any coin. In this guide, you will learn top tips for choosing crypto coins. However, if followed by the right strategy can lead to profitable returns in the future. Be you an all-day trader or long-term trader or just a beginner, below are few named tips to help with your trading.
Look for hype
Investing in crypto coins is a high-risk investment. It can make you a millionaire in few months or it can also make you broke in some weeks so it’s better to do your own research before investing in any new coins. Just follow the tips we have provided and you may end up finding the next BTC. Another essential aspect of the coin is the volume of trade it undergoes on a per day basis.
Before investing in Bitcoin wait for a major fall in price and then invest into it, who knows maybe you will end up making more than 10,000$ in profit like 2017. When trading it is very important to know what markets to focus, and when to stop. Set yourself an evident target level for taking your profit, and most vitally, a stop-loss target, so you know when to cut your losses.
Availability of two-way authentication option, 2FA rises the security of your account. Another foremost aspect to look out for while trading cryptocurrencies is not to back all the fund on a single form of cryptocurrency as you would not like to be in the unfortunate situation of undergoing losses.
From analysing the already users of the coin to scrutinizing feedbacks on internet forums as what better way to decide that a good recommendation. Not only are people aware of the usage of this form of virtual currency but also people are looking into investment options related to it. Trading of cryptocurrency has become equally widespread as much as stock market is in new financial world. The user interface is amazing at the same time simple enough for every person to understand and job with. They also offer user interface support for all gadgets that are linked to the internet.