I am a crypto trader for more then 4 years now and together with the team we have over over 16 years experiance. This means we as a team know a few things, we learned a few things. So far i have tried to explain the things i know on the forum when somebody asks a question, however i can understand this it not very insightfull for everybody. The tips i give are hidden in de explanations. So to improve upon this we have started Twitterbots which are sending out trading tips. Of course you can head over to https://twitter.com/HaasTrading1, https://twitter.com/HaasTrading2 or https://twitter.com/HaasTrading3 to read them but to make it a little bit easier i have posted our tips in this topic as well combined with the reason why.
I can understand some people say one of these tips are wrong, let me say we respect everybody its thoughts. But what is posted as tips here are really true facts, they will prove itself to you. So if you disagree, try to reason with yourself about it, balance it out against the things you know and then you will understand it.
When in doubt what to do... split your investment in two.
Sometimes the prices are going crazy, crazy in such a way that it imposes a risk to your investment. These are the moment the doubts will come in. What do you do? Do you panic? No, keep your mind at ease and split your investments. Sell (or buy) 50% of what you have and wait it out for a while. You will see, things will become better.
Time is you ONLY TRUE FRIEND, do not underestimate this!
It it normal for us humans to assume trading has to go fast, however the opposite is true. Its not about speed, its about time. Time it really your best and maybe only friend. Time will safe your ass because of the rule "what goes up, must come down". So give time the time it needs, it will reward you.
Do NOT over-think strategies, simple strategies rule.
Its human nature to see something complex and try to solve it in a complex way as well. But this is not needed, if things are complex then its just a matter of approuching it as simple as possible. Simple strategies are to-the-point and therefore easier to manage and control. In fact because its simple you know what will happen and this is important, if you can predict it then worries will go away and your mind will come at ease while the bots do there work.
Do NOT backtest over long periods. The more recent past time will give you the most accurate data what to expect.
The crypto market is a evolving market, its changes daily and the news headlines control the direction of the price. These are 2 facts to keep in mind while backtesting, because when we backtest everbody want to see how the strategy was holding up on the long run. But then we are forgetting the market evolution, for example yesterday will tell us more about what will happen today then 2 or 4 weeks back. So in essence, long backtests are useless.
Remember, there is a SIDEWAYS price trend (>90% of the time) and a TRENDING price trend.
This is very important, then i began trading i was obsessed with the moving averages. They are looking so good, but on closer inspection i found they are trending indicators, only valid for less then 10% of the time. This means when we select a indicator, its always best to select a sideways indicator then a trending indicator, sideways trends are normal whereas trending trend are more like events. So select a sideways indicator and guard yourself against the trending events and your profitability goes up by 90%.
The highest profits are NOT made with high-speed trading, but with trading on the long run.
We have all read those headlines and messages about high-speed-trading (HST and HFT). It looks like some magic formula and the ultimate way to make profits. Well thats untrue. Sure speed can be a good thing, however it is all about momentum and not about speed. You want to make profits right? When its about the moment you trade and not how quickly you trade.
Trading risks and profits are always in balance.
Most people start with forex/spot trading, this is a pretty safe method because losses are limited if it goes wrong. When this is working well then its time to move on to margin trading, which allows you to earn from the price downtrend/drop as well. If that goes well then its time for the final step and thats leverage trading. Leverage trading is the most extreme, you trade on both the up and downtrend and there is a multiplier active. This multiplier can be 5 up to 500. So what we see here is a balance, the risk and the profits are always in balance.
Always spread your options using different strategies to avoid or reduce losses.
Over here in the Netherlands we have a saying which says "never to bet at one horse alone", it means when you go gambeling then you do not put all your money at one option. No, the best way is to spread your options. Setup several bots, let them trade at different markets. Take advantage if one of those markets going crazy, spread those bots and your investment.
There is NO GOLDEN strategy, if it existed then it would have been widely known already.
There are many people using tools like TradingView, working for days on a row to find some kind of golden strategy. Well, to be fair this is just lost time. There is no golden strategy. If there was then it would have been know in the forex market already and if there was i must have seen it on the price database as well. There is no gold, there is only silver.
Each trading strategy will break in time, no strategy is absolutely perfect.
Each trading strategy is based on the principle of sideways or a trending market. Non of the strategies can cover for both of the price trends, it is impossible because sideways and trending are two opposites. So whatever strategy you got and however long its working, it will break down eventually.
All things begin small, haasonline initially started crypto trading with just $30.
Yes, a common question for us is where to start, how much do you need. Well you do not need much to make a lot, sure if you got a lot then things go easier, but even i (stephan, haasonline) initially started with just $30, i lost $20 before i understand what was happening. This proves from my own personal experiance that all things can begin small, it does not matter. Having a lot to start with only makes it easier, but thats all.
Early alt-coin investment rule: Do some research to them, split you investments and wait it out.
I am a true alt-coin investor. I do scout the market and i analyse which new coins/market has the best potential. I simply invest a litle bit into it and wait it out. I do this at more then one coin/market at the time. This is all, i am unable to tell more about this. Alt-coin investment like this is just a research and waiting game. Sometimes you win (massive numbers) and sometimes i lose (small investments) but in overall i am in profits thanks to research and waiting.
We (the Haasonline Team) hope you will find these tips useful, just try to remember them while you are setting up or trading crypto. They will prove to be very helpful.
Do you got any tips to share? Feel free to post them below here.
~The Haasonline Team
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