If you’re looking to Trade the crypto coin Syscoin (SYS) 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 Syscoin (SYS) 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 Syscoin (SYS)
So the best way to trade Syscoin (SYS) is to follow these steps, we cover all that you need to know for trading Syscoin (SYS) 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 Syscoin (SYS). 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 Syscoin (SYS)). 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 Syscoin (SYS), 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 Syscoin (SYS) 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 Syscoin (SYS) which means a very high chance of success. Even if you are only planning on trading the one coin (Syscoin (SYS)) you still need to have several Syscoin (SYS) 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 Syscoin (SYS) 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 Syscoin (SYS) 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 Syscoin (SYS) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on Syscoin (SYS) Trading
Before proceeding to invest, analyse the trading volume of the coin to have an idea of its liquidification or activity. 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.Availability of two-way authentication option, 2FA rises the security of your account.
Research and study well from historical charts and trends before trading. As much as study of previous charts is important so is charting your own money course is to make rightful investment decisions. Alongside always make sure to stay updated on current news affair. Also, some research to be spared on the social media buzzes to blogs of what people are taking to current news are few reliable ways of doing your research for your choice of coin. Cryptocurrencies are highly volatile in nature is the most important of all tips to remember to begin with your course of trading.
Consider Using Sharpe ratio
But, of course, to be a practical currency, it requires the ability to be divided, and Bitcoin is no exception: each unit can be divided into smaller parts called 0.00000001 Satoshis. This ability to split makes it very convenient to buy things or to hire services. This is for the reason that one of the major problems with the low volume cryptos is that they do lack a strong community backing them. Plus they can quickly get delisted from exchanges that are all the more leading to losses.
For example, an easy strategy would be to have ninety percent and ten percent short. This technique assumes you more confident in a long position. So, this technique may cater any level of danger. One such form of development in world of Cryptocurrency are the trading bots which are basically computer programmes that recognize trends and execute trades on your behalf.
If you want to get a strong grip on trade crypto currency, you should be having it and experience it in the practical way. In order to get the trade crypto currency wallet, you should first of all be downloading it. Picking an exchange is the gateway to the crypto globe.
Ripple is one of the fastest crypto currency available (it only take 4 seconds for a transaction to get cleared) in the world. They are led by CEO Brad Garlinghouse, who has worked for many top companies and is doing very good work in marketing the coins. In fact they even promoted it on the Ellen Show which shows how good they are marketing the coin. When all variables are considered, profit trailer has achieved something special in the cryptocurrency globe. Having a fast customer support would save you lot of anxiousness and time, especially in a quick-paced atmosphere.