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Learn to Master Crypto Trading! End of Year Sale!

rekt

From now on the Book “How to Not Get Rekt Trading Crypto” (A brief introduction into cryptocurrency trading) is on sale till the end of this month. You can grab your copy for just 1,99€ instead of 3,99€. So don´t miss this opportunity to spend a little money to prevent big mistakes in trading. You can read to whole chapters here and here. The book is available at Amazon an other Shops like Barnes&NobleRakuten koboApple Books, SCRIBDTolino/Thalia or vivlio. You can grab a copy at our store as well and pay with crypto, just follow this link.

The book covers the following topics:

  • Crypto OpSec – A brief overview about security
  • Coin Altcoin Token – Explains the difference between a coin, token and altcoin
  • Fundamental Analysis – An introduction of fundamental asset analysis
  • Technical Analysis – An introduction of technical analysis
  • Exchanges – Covers the different styles of exchanges like DEX, CEX and broker
  • Kraken, UniSwap – some words about Kraken and other exchanges
  • Type of orders – An overview about the different type of orders, for example limit vs. market order
  • Reading Orderbook – What is an order-book and how do you read it
  • Leveragetrading – Introduction to leverage-trading
  • Moneymanagement – A guide about money-management
  • Different styles of trading – explains short-term vs. long-term strategies
  • Trading in a bearmarket – Chapter about shorting in a bearmarket
  • Trading Psychology – Most underrated topic in trading, the psych, this chapter features how to gain the right mindset
  • Resources and tools and abbreviations

At the end of this little writing we want to share some readers reviews:

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Tool for Margin Traders: Aggr.Trade

Aggr Trade

If you´re into margin-trading, i have a nice little tool for you. It´s called aggr.trade and guess what, it aggregates margin trades of different exchanges. I like it, because its highly configurable. Just head to https://aggr.trade/ and give it a try.

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The mainwindow is your prefered chart, in this case I have opend the bitcoin-chart and on the right side you see recent margin trades. It gives you a brief overview about the current market sentiment. Like I mentioned earlier it is highly configurable. If you click the gear icon on the upper right side, you can choose which exchanges you want to see and set the limit of shown trades.

Aggr trade config

You can even customize the chart itself, you head to the upper left corner and you can switch on/off different indicators, like volume etc.

Aggre Trade Signals

Another nice feature is the url: you can directly choose your trading pair by heading to the corresponded url. For instance, if you want to see the Etherem/USD pair go to https://ethusd.aggr.trade/

Aggr.trade is made by Kevin Rostagni and you can find his Github page here.

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Trading Psychology

Trading

This is an excerpt form the Book “How to not get REKT trading Crypto” which you can purchase here and on Amazon and other stores.

If you want to succeed in crypto currency trading, the first step is to take a good long look in the mirror.

Some of the most common influences affecting the success or failure of traders are psychological. Trading psychology is a way to describe the emotional component of your decision to invest. Realizing that success may take more personal effort than simply researching the currency before you invest, may make the prospect seem a little daunting. But there is a way to wield the psychology in your favor and knowing just how impactful your emotions can be is the first step.

The psychology of trading in practice.

Now that you know, you can use psychology to have a positive impact on your trading choices in practice. Which unhelpful emotions are you likely to experience whilst investing? Fear is probably the most common. Fear can prevent us from taking risks, move us to sell too early or convince us we will fail in the first place. Seeing your investments appear to lose money will not be easy, it could cloud your judgment and make you doubt your overall strategy. Conversely the excitement and joy of a successful currency investment might make you reckless. It could fill you with a false sense of confidence that will lead to impulsive trading. There will always be good times and bad times, you should be prepared to quit when your ahead. Another potentially dangerous emotion is greed. You may think that greed is a necessity for any trader, with glamorous Hollywood movies about greedy market traders informing our collective consciousness. Try to exchange greed for focus, there is no doubt that money is a massive motivation, but an unchecked appetite may lead to a lack of discipline. Focus on the big picture and use money as a motivation as you implement your strategy. Here’s three simple points to remember:

•          Do not be motivated by fear

•          Do not be overcome by euphoria

•          Do not be motivated by greed

Now we have seen a few negative examples of how emotions can affect trading, what are the positives? If you want to succeed at anything you need to have belief. Believe in yourself and your abilities. This may seem cliché or simple but if applied wholeheartedly it will have a powerful effect. Build a passion for what you do and inject it into each day. Organize yourself with an effectively researched and comprehensive game plan and commit to it fully. Having identified a few dangerous emotions, the next step is to get control of your thinking process. This takes positive action and energy. Positive self-talk is key, for starters tell yourself that you can master the psychology of currency trading. Build on your own personal values and integrity, commit to these as your foundation, a springboard to launch you forward every day. Take breaks and lead a healthy life, feed your brain with healthy food and inspirational material. Strengthen your body with exercise and spend time with your family and friends. It is often underestimated how essential these basic practices are, they will keep your mind agile and focused. Here’s four simple points to remember:

•          Do wholeheartedly believe in yourself

•          Do positively organize your thinking process

•          Do keep a healthy lifestyle routine

•          Do commit fully with personal integrity

Finally, be prepared for losses, inevitably not all investments will pan out for the best and this may be especially true for crypto currency investment. When that happens you may feel overwhelmed, but if you have put into practice these tips you will be able to ride that disappointment out with ease. Every failure is an opportunity to learn and exercise our mind, to strengthen it and continue towards success. Trading psychology is incredibly relevant to reaching that success.

“Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this.”

 Dave Ramsey

This is an excerpt form the Book “How to not get REKT trading Crypto” which you can purchase here and on Amazon and other stores.

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How to Not Get Rekt Trading Crypto

A brief introduction into cryptocurrency trading (eBook)

rekt

You can buy this book here at shrypto.com or at various stores like Amazon, Barnes&Noble, Rakuten kobo, Apple Books, SCRIBD, Tolino/Thalia or vivlio.

Crypto trading is a brave new frontier that is rapidly gaining momentum. Already thousands across the globe are making major money from this lucrative sector. The problem is it can be quite hard to get started. There’re many things in play when it comes to crypto. If you’re not properly set up for success, then you are putting yourself at a huge risk of losing money. This is why this guide was created. To guide you towards the best way of trading cryptocurrency without putting your finances at risk.

The book covers the following topics:

Crypto OpSec – A brief overview about security

Coin Altcoin Token – Explains the difference between a coin, token and altcoin

Fundamental Analysis – An introduction of fundamental asset analysis

Technical Analysis – An introduction of technical analysis

Exchanges – Covers the different styles of exchanges like DEX, CEX and broker

Kraken, UniSwap – some words about Kraken and other exchanges

Type of orders – An overview about the different type of orders, for example limit vs. market order

Reading Orderbook – What is an order-book and how do you read it

Leveragetrading – Introduction to leverage-trading

Moneymanagement – A guide about money-management

Different styles of trading – explains short-term vs. long-term strategies

Trading in a bearmarket – Chapter about shorting in a bearmarket

Trading Psychology – Most underrated topic in trading, the psych, this chapter features how to gain the right mindset

Resources and tools

Abbreviations

Because crypto is the next big thing in wealth growth. If you don’t jump on board now you may miss this opportunity forever. Now is a better time than ever to start investing. If you’re looking to get a leg up on your wealth growth then this is the book for you. You will finish this guide with a new found grasp on the subject of crypto trading and most importantly the skills you need to grow your wealth through trading. You will learn the best way to profit from these assets and how to develop the skills you need to become the next big trader.

Crypto trading is the future. Don’t get left behind. Join the movement today and find out why countless wealthy individuals use this skill to grow their wealth to soaring new heights!

You can buy this book here at shrypto.com or at various stores like Amazon, Barnes&Noble, Rakuten kobo, Apple Books, SCRIBD, Tolino/Thalia or vivlio.

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5 Tipps for Crypto Newbies

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In this article I want to give five tips for people who are new in the crypto space. These tips are based on my personal experience and are maybe biased but I will hope, they help you to start out in the crypto scene. Don´t expect a deep technical explanation, its just a easy to go list.


Get a decent wallet

There a zillions of different wallets available. Most important difference is the handling of your private keys. If you use a custodial wallet, you don’t have access to your private keys and the wallet provider could easily freeze your funds. I would highly recommend a non-custodial wallet without server solution. If you plan to invest more than 100$ in crypto you should think about to get a hardware wallet, it is the safest way to store your private key. A good non custodial wallet is electrum or the wasabi wallet and for a hardware wallet you can take look at ledger or trezor. At the end of the day are all these wallets paper-wallets because you have to write down your mnemonic seed phrase, and when you lost your seed, you lost your coins. If you don’t know what a seed is, take a look at this fine article.


Use one reliable Exchange

When you start out in crypto, you first want to turn fiat into btc (or another coin) but which service do you use? This is maybe a controversial advice but I will recommend coinbase. Why? Because it is the biggest fiat onramp service and has a very user-friendly interface and user experience. Kraken is also a good choice but unfortunately, they don’t offer buy crypto with a credit card. You can make deposit from your bank account to kraken but this could take a few days, in a high volatile market like crypto, I want to make a instant payment. Some people just send their fiat to kraken and wait with their buy order till they see opportunity, I don’t advice to do that because you should never leave an asset on an exchange. Just do your trade and withdraw your funds on your wallet. You should also have in mind, that nearly all exchanges with fiat conversion do a KYC procedure, you have to transmit very sensible data to a 3rd party. So when you just try every exchange, you spread your personal data to several exchanges. So choose your exchange wisely.


Avoid pump and dump groups and cloudminig

When you new in crypto and joined some telegram groups or the bitcointalk forum, soon or later your will stumble across pump and dump groups or cloudmining service providers. These are mostly scams, I suggest to simply avoid these groups. When someone messages you telegram regarding a P´n´D group or a cloundmining service, just block them. They don’t deserve your time. There is no free lunch.


Don’t trade

This is also a controversial point but don’t start trading, its basically a null sum game and bad for your health. Sure, you have to know how a exchange work and maybe should know the different order types, so have to do a few trades to get used to it. But especially as a noob, you compete with pro traders and companies, who will win against you. I personally just holding some btc and eth and few altcoins (which are mostly 95% down J ). I am also not a big fan leverage trading like bitmex or deribit, you can easily bring your depot to zero with a 100x lever. Trading itself is a risky business but trading with leverage is dangerous.


Keep a proper documentation

So you made a fortune in crypto and forgot to document your trades? Very bad, because your local tax authority will have few questions. So right from beginning start with a good documentation. Made a folder on your hard disk and simply but every buy/sell conformation in it, make screenshots from every trade, download everything (trading history, withdraws, deposits). There are a lot of good tools outside to help you out. I personally just use excel but you should take a look at cointracking or cryptotax.

Article was originally published on publish0x.com