Originally posted by CutterLegendaryNinja
so margin trading is just leveraged trading where they loan you 10x your money or 100x your money? THAT is how I was taught to make money.
So your buying at support and selling at resistance…makes a lot of sense…Isn't that trading at key levels.
I'm starting to understand cross margin but how would you know when a pair is trading more in btc that usdt? Do you constantly have to monitor it?
Ice cream? Do you know how to make seasalt ice cream. I can make a post on how I think I know how to make it. It cures hangovers and detoxes your liver.
it doesnt matter which is being traded more, the only thing that matters in this context is that you are sometimes able to sell a coin for different currencies, some which may give you more value than others.
i wouldn't necessarily sell at resistance, it depends on the situation though. the best time to sell is when the price is going up exponentially, as this kind of growth is not sustainable and its likely to go down, if even just to collect its thoughts for a minute before spiking even higher. it really depends on the situation though.
and i definitely would not short. especially right now. if the price of something goes up it can spiral out of control pretty quick. and a lot of coins are making all time highs right now.
margin trading is like, if i want to trade btc/usdt and i have 100 usdt, i can put 100 usdt in the account and they let me borrow 300 to buy btc with (this is with 3x leverage). buy the btc however you want, wait til it appreciates in value and sell it back to repay the amount of usdt you were originally loaned, and you can keep the profits. the trade off is that if btc goes below a certain value they will start to sell your shit to make up for it.
for finding a low price, go look up whatever coin you are using on coingecko and look at whatever price graph most closely fits how long you want to have it before you sell it. notice where the points are where price doesnt really seem to go any lower, that's called support. then i try to fit my orders in so they're around that price, set a stop loss a little ways down (not too high, you don't want it to sell all your crypto and miss out on a dank run just because price dipped below support for a minute), and then just wait.
the cross margin thing is something binance offers where there are a bunch of different pairs you can trade all with a 3x margin and you can mix them all together. this is really useful for say, buying a coin with either usdt/eth/btc/bnb/whatever happens to be cheapest and selling it for whatever currency you can get the most value for. you can do 5x and 10x too but the pairs are isolated so no mixing.
sometimes you can get it to work out really solid to where something like eth will be like $20 less in its value of bitcoin than it is usdt (after btc makes a decent sized run most people are not trading their btc away) and if you have btc on hand you can just buy eth with it and sell immediately for usdt and make even more money. usually i try to cash out everything in btc though because for a while i was just trading in usdt but btc is moving so fast that even when you win its hard to get ahead. i'm going to the store to get some ice cream or some shit, when i get back i will make a post detailing all the other tricks and shit i use for crypto
Originally posted by ORACLE
As re you actually successful or do you just lose money like a typical crypto kid?
lol if you are losing money in crypto right now you are SERIOUSLY fucking up. but i got in for the last defi boom and made and lost a lot of money and learned a lot. i never lose money now though. you really can't though to be honest, unless you try to daytrade or throw your money at total shit/scamcoins.
binance 3x cross leverage is the way to go. its really easy to not lose money, you just have to buy at somewhat low prices and then just wait until its valued higher to sell. split your funds amongst link, btc, eth, maybe avve and a couple other things if you want. buy low and sell high, also since the margine trading isnt isolated you can sell link, ave, eth etc against btc and usdt. theres a lot of good opportunities.
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