Welcome to our web site, this is a free guide to trading crypto currencies so that you can make very good profits. The prices of these crypto currencies are very volatile and so go up and down a great deal, so as long as you can set up a bot to buy in the lows and sell near the highs you will do very well and that’s what we’ll show you.
So we have a series of steps below which will tell you how to set this up so just follow them and read the external references that we give and you’ll be trading in no time.
How to Trade Crypto Currencies
- To start trading you will need some Bitcoin and that is purchased from Coinbase. We suggest that beginners start with a small amount of Bitcoin but you will need enough to have several positions open (more on that later) so we suggest around $150 as this is very affordable and gives enough of a balance to have several positions open.
- You will then need a Binance account, this is where the trading is done so you need to get your Bitcoin wallet address from Binance and send your Bitcoin there from Coinbase. Binance is easily the best crypto currency exchange as they have very low fees, the best coins and the whole site is just great to use (although you won’t need to as the bot will do most of the work).
- So once you have Bitcoin in your Binance account you are good to go, so the next step is to learn about indicators and these are what tell the bot when to buy and when to sell. By far the best thing to do is to go to TradingView and play around with the indicators, use RSI, Bollinger Bands, MACD, SMA, EMA and any others that you like and try to match those up with the low and high price points of the currency. For example RSI is quite straight forward as when the RSI is low the price is generally low and when it’s high the price is usually high, so buying when the RSI is low is a good way of trading and then either selling when the RSI is higher or when a certain amount of profit has been made. See the TradingView Wiki as that has lots of useful information on these indicators and you can also find lots more useful information on other web sites and Youtube, it’s very important that you get a good grasp of this so allow yourself some good time to study it.
- So once you understand indicators you are in a very good position to trade, so you just need your bot and by far the best is Profit Trailer as this is very fast and effective (that’s so important as most other bots are slow and so will miss trades and potentially leave you in a mess). This software runs on your computer (you can also set it up on a VPS) so you just need to enter your settings like the Binance API details (Profit Trailer can’t withdraw as you set that when you create the API so it’s perfectly safe), then when you run the software you can enter your other settings like the buying and selling settings in the software while it’s running. See the Profit Trailer Wiki for lots of information on all of the settings and also set up instructions so that has all that you need for running Profit Trailer.
- So once you have it all set up, just leave it running (you can run it in test mode to start with if you like so that you can test your settings work well) and watch the sales role in. You can keep an eye on your open positions and get useful stats from within the software (it opens in your web browser) so you can see aspects like your daily profit which is useful (see a site like Compound Daily to see your potential returns over time using your start balance and your daily interest gains, that can be a very startling experience!).
- So you are gaining well daily and likely to be now thinking of withdrawing, you can’t do that from Binance to your bank account and so you have to send some of your Bitcoin back to Coinbase and transfer it to your bank account from there. It’s best to decide on a small percentage like 20% for withdrawals so that you can keep your investment growing and the longer you do that for the more it will grow per day.
So that is the best way to trade altcoins for Bitcoin online and make some great profits, you can make a great deal of money doing this so it’s so worth reading those above references very well.
Also keep in mind that there are a huge amount of scams in crypto and so be very, very careful and if anything seems too good to be true it usually is. The above companies are 100% safe though and very large and well known companies, you can easily verify this online.
So happy trading and enjoy the profits!