Monday, September 3, 2018

HOW TO BUY THE BEST COINS


How to buy the best coin? 
Start with gainers every week, Look out for weekly gainers. Because there are 900 coins and you cannot research all of them and it would not be a right choice. Weekly gainers have great potential when everyone wants to mint money. Once you shortlist weekly gainers, Look for the business they are into.
https://coinmarketcap.com/gainers-losers/
Look at the trending volume and it gives you the best investment opportunities. I look for volume that is good in the past 1hour/24hours/7 days. Not all of them are good, you have to fine tune your research and choose one or two. You must start with the fundamental analysis.

Let search for bit tokens and understand the business. You can try looking at steemit.com and that is a good resource about crypto currencies. Learn more about the coins and invest in them. Take time to analyze and invest your money. What is their idea? I head to their website and read that it’s a similar pattern like Bitcoin and will it be successful in the future. When you have a strong idea, you can trust them but you should also have a strong team to support the growth of the company. Any business, first of its kind would win easily and having a strong team with influencers would make the currency worth buying. 

Will it reach the crowd and get appreciated? Take a notepad and write the positive and negative points, identify whether it is a pump and dump coin or people would want to hold it for months. If the prices rise and fall very quickly, it’s gambling. You have to avoid those patterns . Identify their business and what will be there return on investment? Look at the same way for other 5 coins and you will learn more about it. You will also find whether to invest or avoid, you are your own master.

Resistance And Support, Why you need to know it?

The action of the past and present, frame the future prices. The prices are related and what happens in the past will happen in the present and also in the future, unless there is a trend change. Learn to draw trend lines and you can find the trend easily. Resistance is the immediate peak; it can be taken as weekly high or monthly high depending on the peak. The highest point in the chart is the peak/resistance. It depends on which chart you use say weekly or daily or monthly. Always look at the larger picture, which is the daily chart and It’s easy to say whether a stock is moving up or down. It can tell whether the stock is in uptrend or downtrend. If it is in the downtrend, we ignore and if it is in the uptrend, you have to look for the peak/resistance.

Only when the price breaks above the peak, there is further buying and you need to check with volume. Don’t rush to buy a coin when it is in downtrend.  Wait for the chart formation and it takes time. If the price drops too much keep stop-loss at the immediate support level. It would be your immediate trough or the lowest point in the chart prior to the drop.so start taking printouts of the charts and learn to draw resistance and support, make a decision when any one of these breaks. Till then wait with your money patiently.

No comments:

Post a Comment