If you’re looking to Trade the crypto coin Lunyr (LUN) 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 Lunyr (LUN) 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 Lunyr (LUN)
So the best way to trade Lunyr (LUN) is to follow these steps, we cover all that you need to know for trading Lunyr (LUN) 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 Lunyr (LUN). 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 Lunyr (LUN)). 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 Lunyr (LUN), 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 Lunyr (LUN) 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 Lunyr (LUN) which means a very high chance of success. Even if you are only planning on trading the one coin (Lunyr (LUN)) you still need to have several Lunyr (LUN) 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 Lunyr (LUN) 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 Lunyr (LUN) 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 Lunyr (LUN) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on Lunyr (LUN) Trading
If you find a new coin that can do some unique thing and also its price is low then 1$ then start investing in it without thinking much. Low volume cryptocurrencies have higher chance of being delisted from exchanges.So far, about 12 billion coins in circulation are recorded 21 million total to be produced for 2040. This limit their production turns the coin into a deflationary because units will be lost or destroyed, the which means that instead of losing value over time, as any fiat currency, each Bitcoin could increase its price over the years.
This returns to the criptodivisa a finite, quantifiable and impossible either increase or decrease its flow, as some governments to control the price of its currency. Every 4 years, obtaining Bitcoins halved. If looking to invest effectively in cryptocurrency than always choose exchanges over brokers. When all variables are considered, profit trailer has achieved something special in the cryptocurrency globe.
Motto should be to buy low and sell high
Don’t get tempted by fast profit wait for the coin to fall and then buy it. This is the basic rule of Trading: Buy low, sell high. Even if you decide to trade daily, sometimes it is excellent just to sit and watch the markets and wait for the best time to join in.
In the beginning, if you are investing in crypto, then it is essential that you should analyze its trading volumes. By following the rule, you should always be taking yourself towards the crypto that has high daily trading volumes. Crypto-coins or otherwise known as virtual coins has gained wide popularity with it being unregulated and irreversible.
The best way to reach to a conclusion as to which coin to opt for is, to begin with, researching. But it is time-consuming in a sense that it would require your maximum time to sit down and do with some of the processing altogether.
On basis of technical analysis and sentiment as the set parameters to do the trading for a trader. There is support for three exchanges - Poloniex, Bittrex, and Binance. The user can purchase a license to trade in single exchange or mixture of 2 or 3 exchanges. The pricing varies based on the number you pick. 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.