If you’re looking to Trade with the crypto coin??WAVES 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??WAVES 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??WAVES is to follow these steps, we cover all that you need to know for trading??WAVES 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??WAVES. 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??WAVES). 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??WAVES,??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??WAVES 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??WAVES which means a very high chance of success. Even if you are only planning on trading the one coin (WAVES) you still need to have several WAVES 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??WAVES 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 WAVES 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??WAVES at the same time then you are going to increase your investment size too and so profit much more.
Further tips on??WAVES Trading
The top way to use technical analysis in finding an entry point is to know candle stick patterns. For example, if you are looking to purchase bitcoin, then a bullish engulfing candle pattern on the weekly chart would be a best indicator that it is time to invest in the market.??Various exchanges permit short orders. This permits one to place bets on either side of Bitcoins price movements.Still, it is one of the hottest markets where you can end making up a lot of money if done correctly. Now holding coins for a long time is not a profitable deal but instead of holding, trade them to other coins which can make you quick profit.
The first factor you have to keep in mind before choosing any crypto coin is its current price. Find low priced coins which are currently less than a dollar. The biggest reason for this that it's easy to multiply your investment because even 1$ increase in its price can make your investment double but in case of BTC you need to wait for 1000$'s worth of increment to have some good profit.??It is all the more a known fact that putting into the investment of the cryptocurrency has become all the rage.??Many exchanges provide only a handful of coins, the most famous being Ethereum and Bitcoin. There are only a handful of exchanges that provide a big range of coins. A more diverse choice of coins accessible is better as it provides you more choices of coins to buy.
Look for hype
Every time your bot DCA on a coin it comes with double the price. It is also having some settings to stop trading activity in certain market conditions to avoid incurring of loses.??This is the location in the dashboard that provides the information about the currencies you are interested and followed. If a currency is on this list it indicates the most credible list of currencies to be bought.
Simply purchasing and holding without some strong backing to such a decision, is no longer a clever strategy.??There is a higher percentage of people who are getting involved in the crypto investment and are learning some new ways to make money.
It has almost 2 million accounts and has different set of variety of cryptocurrencies for sale. They have no fees in beginning as they charge a premium on the Bitcoin price.??From change in regulations, media influences and technological advancements is what that keep affecting the prices of the coins.
So, how do you trade it successfully???In the beginning, if you are investing in crypto, then it is essential that you should analyze its trading volumes. By following the rule, you should always be taking yourself towards the crypto that has high daily trading volumes.??The first factor you have to keep in mind before choosing any crypto coin is its current price. Find low priced coins which are currently less than a dollar. The biggest reason for this that it's easy to multiply your investment because even 1$ increase in its price can make your investment double but in case of BTC you need to wait for 1000$'s worth of increment to have some good profit.