If you’re looking to Trade the crypto coin??Litecoin (LTC) 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??Litecoin (LTC) 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.
So the best way to trade??Litecoin (LTC) is to follow these steps, we cover all that you need to know for trading??Litecoin (LTC) 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??Litecoin (LTC). 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??Litecoin (LTC)). 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??Litecoin (LTC),??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??Litecoin (LTC) 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??Litecoin (LTC) which means a very high chance of success. Even if you are only planning on trading the one coin (Litecoin (LTC)) you still need to have several Litecoin (LTC) 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??Litecoin (LTC) 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 Trade Litecoin (LTC) 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??Litecoin (LTC) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on??Litecoin (LTC) Trading
Usually, coins with good behaviourally pattern have a good client base. Also coins with good presence on online communities is another differentiator for its clients base.??You will be able to make the $8 profit off of your first of the 2 trades. Or you can often get into the options for making about $15 granted everything worked in the same way you have hoped for.Technical analysis has come about to be one of the excellent strategies regarding searching for the entry point when investing in financial assets.
You can view the image of the trade crypto currency as the electronic email system too. You might do not get to know that how you should make the use of it in a better way. But it can surely be standing as one of the fair means of the communication in the middle of you.??It is difficult to predict the future of crypto coins in 2018 because even the Bitcoin is down by 35% right now but still we will try to tell you the best performing coins in 2018 in which you should invest and try to hold these coins for a long period of time to avoid any loss on your investment.??One more factor that you have to keep in mind is to find those coins which have a strong team of veteran users because they know how to correctly market the coin. A coin that is backed up by strong CEO and other members will perform 100 times better than a coin which is not created by veteran users.
It is highly essential for one to judge the developing background of the coin one is opting to invest.??The currency control lies in the whole community , and that is a change in its operation or its regulations , the majority of its members must reach a consensus , as its modus operandi is very similar to that of a P2P network.
If you are considering to make an investment in Crypto, then above mentioned crypto currency coins for trade are best options for you. Which one of them you will experiment first of all???This is the location in the dashboard that provides the information about the currencies you are interested and followed. If a currency is on this list it indicates the most credible list of currencies to be bought.
As a trader, you must have most of the money involved in BTC but still, keep trading them for Altcoins which can make you fast profit and then shuffle it again before it starts going down again.??This would make the donations giving much more comfortable and effortless for some of the beginners.
Having a reason why you want to begin trading is a vital place to begin. Ensure you know why you are getting involved and make sure you have a perfect strategy laid out for afterwards.??For the readers, we would like to mention that the category of digital currency is becoming more popular with every passing day. If you would search around, you will encounter with so many platforms providing you with the ability to trade, exchange, or purchase cryptocurrency.??The currency control lies in the whole community , and that is a change in its operation or its regulations , the majority of its members must reach a consensus , as its modus operandi is very similar to that of a P2P network.