If you’re looking to Trade with the crypto coin??NEM 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??NEM 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??NEM is to follow these steps, we cover all that you need to know for trading??NEM 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??NEM. 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??NEM). 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??NEM,??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??NEM 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??NEM which means a very high chance of success. Even if you are only planning on trading the one coin (NEM) you still need to have several NEM 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??NEM 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 with NEM 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??NEM at the same time then you are going to increase your investment size too and so profit much more.
Further tips on??NEM Trading
Problems on your confirmation process, deposits/withdraws, funds evidence and trading orders should be fixed fast by the exchanges, or it could cost compromise you cash, time and well-being.??If you are looking to buy Bitcoin, then in this condition bullish engulfing candlestick pattern on top of the weekly chart that turns out to be the excellent indicator to make your way inside the market.Having a fast customer support would save you lot of anxiousness and time, especially in a quick-paced atmosphere.
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.??As you have identified the coins to bring into investment, you should look for the entry point for your investment.??Sometimes for the beginners choosing the right crypto coin is a big issue to face through. So here we are sharing with some of the essential and central top tips in choosing with crypto coins easily.
Consider exchanges over brokers
Decentralization and forks are also counted as some of the major issues. They are much excellent to come up with the exploration and broad the technical stuff even much more appropriately.??This concept and complexity make money making many compounds inside the market world. For the beginners, knowing about the cryptocurrency trading is a hard task for sure.
Over with this piece of article we are heading towards the complete discussion about the comprehensive review on how to use trading view to trade crypto currency.??We would make you suggest trying with the day trade crypto until and unless you have a few thousand to play upon with. This is the point where you can actually start in terms of making a few hundred quickly.
One of the major factors which increase the price of cryptocurrencies is the hype it creates in the starting and Reddit is the best place to find them. Reddit is full of people with a lot of knowledge and they are "early adopters", they will mostly go for new coins which make your work easier, instead of researching just follow the hype train of reddit.??The profit trailer trading bot also gives the platform to trade from different exchanges in a simple manner.
Today you can buy almost anything you want using bitcoin . You can pay passages Expedia, buy computers on Dell.com or newegg.com , furniture and household items on Overstock.com and to buy directly from amazon.com discounted up to 20 % using services like brawker.com or purse .io. And more and more ways to use bitcoin to buy goods and services appear.??The easiest way to find new coins is to follow Reddit hype. Just join some Reddit Bitcoin subreddits and see what everyone is talking about and going to invest in.??Next one of the most best ways to buy trade crypto currency with Paypal would be jumping into the money exchanging. You can click through the site here. Be sure that you need to make at least a minimum of 50 dollars worth.