₦airaland Forum

coolfredo:
. I mean how do they know which is performing well

You study their trend and avoid buying the tops.
If you're confused, stick to betece or eith until you learn the ropes

coolfredo:
so then how do de know which is higher

I'm confused. What's the question exactly?

Dramadiddy:
this is a game of patience. If you don’t apply patience in your trading, you’ll always lose.

Hehe... It's surprising what some folks see crypt0 as. Some just gamble their money to the market.

If betece drops to 6k today, nobody will come and ask if they should buy.

coolfredo:
. Thanks bro but a unit of ADA is not up to a $ yet while eith is $1300. Though u dont know much abt it.

The cost of a unit isnt the issue. Don't get carried away by it. That's the mistake alot of folks make with exrp cos they think its 'cheap'
20k x2 is 40k. Also, 0.1x2 is 0.2.

coolfredo:
pls out of all the coins u listed which are the strong 5. I have ADA,DOT,EITH,LTC. still need to add some more, dont know if it adviceable as makt is now going high

No one can tell. They all run and pullback at different times. Also, it's good to have a mix between majors to low caps.

I don't want to nane specific ones and people will run in cos I can exit them. But if I'd add my thoughs on some you listed, I'd say
Eith- always worth having
Link- due a good run
DOT- has gone from 4.5 to 20 in less than a month. If you're buying now, have a clear plan cos it'd have a heavy pullback soon
ADA- It may outperform eith shortly and I'm hoping to sell it into eith at a level
LTC- old guard... Good performer earlier on. Now lagging... It'd regain lost ground too.


My gameplay is to stack as much eith/btz as possible.

I follow their trends against eith or btz. Usually my gameplan is to flip early runners for late runners and take profits from late runners into fiat.

It's more complex as youre trading two volatile assets. I do it for certain pairs. Early this month wgen theta ran, I sold it into eith at a good rate. When eith ran, I made extra profits.

EseAbed:
Morning Sir!

Could you please explain that 'stop limit' feature on Binance in layman's english?

I use it on sell orders as a form of risk management.

E.g you buy eith at 50, it goes to 100, you think it may still rise to 150 but want to protect your profit incase it drops.

You can use a sell stop limit. Lets say you put your stop at 88 and limit at 86.
The stop is the price at which your order is triggered. In this example it's 88. So if the price of eith drops to 88, your sell order becomes valid.
Limit- this is the least price you want to sell for. i.e once the price gets to 88, your sell order is placed but it wouldn't be sold for anything below 86. It's useful especially if you're selling large amounts, when there's huge volatility or in pairs where the order books are thin.

Take for example, you want to sell 5000 betece. Thats hundreds of millions, a limit order will prevent sharp price fluctuations

A simple stop or stop market order means that once your set price is hit, your coins are sold for whatever buy price is available

Another one not available on binance is a trailing stop loss. Here you can set it at say 90 when eiths price is 100. It'd keep following it forward at a 10 dollar interval but never goes back. E.g if eiths price rised to 120, your stop will become 110. If there's a pullback then, it'd be hit and not go back.

It's tricky knowing where to put your stoploss cos they're hunted. You don't want to put it too low and if you put it too close to market price, it'd likely get hit b4 any significant move hence you may buy higher at the end.


That said, there are different ways of risk management. Personally, in some market conditions I tend to use different ways. Now what I use is mainly taking profit on the way up

This market is so predictable.

Yesterday evening, I logged on twiiter and most influencers were screaming buy Link. Most would have gone degenerate with high margin trades hence it needs to flush them out. Almost sold my stash at 25 usd cos I knew it'd pullback.

People keep mentioning its run from 5 to 20 last year. What they wouldn't say is that no one expected that run. Most thought it had topped out when it initially got to 8 and sold their stash. Now everyone is expecting a repeat of that run. That makes me concerned. That said, I believe 40usd is only a matter of time for it.

BTW fam, seems we're getting into another altz party... Loving it as my bags are stashed thankfully on strong coyns. Remember to take good profits on the way up so you have dry powder when its necessary. Also don't forget its a bull run, don't take profits to early and leave a tiny bit as a moon bag...

Altys I'm watching...
Eith
Dot
Aave
Ren
Link
LTC
Band
Vet
Xrp
ADA
Sxp
Algo
Atom
Uni

I prefer to focus on a about abt 5 strong ones buy monitor some for quick scalps.

EarlyCareer:
Very correct Jedisco. I have been doing a lot of reading. The guys that understand these charts are saying that it is not looking good and a dump might be coming.

Guys, heed the above. this is not to cause panic though, just be cautious.

https://www.tradingview.com/chart/BTCUSD/N4tFOw0Q-Bitcoin-s-blow-off-top-to-descending-triangle/

Yeah it broke down from a descending triangle which can be bearish, but that pattern serms to have been truncated at support. An inability of a bearish pattern to play out is bullish
Personally, for now, I think we've had the dip and I'd give you reasons

1. Market pulse- it's had a 25% pullback and majority of traders are hoping for more. Most have bids stacked between 20-30k. Betece dips usually bottom out when the majority start calling for more dips. It never satisfies the market. Same thing happened at the 10k and 16k pullback.

2. Whenever betece goes on a run, majority are usually hoping for a pullback, a good number of times, it's these folks who later FOMO in to push the market up. Same thing happened from 10-20k and same also from 20-40k

3. That market structure is not yet broken. TA can be interpreted from different angles but that dip hit the bottom of the current trendline on my chart. One which has been successful so far for me. Also look at PA, despite yesterday's selloff, it couldn't even go below 31k.What does that tell us?
There is huge supprt cluster between 29-30k. About 4 areas of strong support. So far in this run, 25% pullbacks have been a gift. It was deeper in other runs but so far not on this.


4. This last dip reset the bull/bear bias- we now have more people betting on further pullback than on a continuation.

P.s look at Eithy chart and you'd see it's playing out thesame pattern betece followed b4 flipping 20k. First betece came close to ATH and dumped, then made an ATH and dumped again to form a higher low before then breaking ATH with volume to go on a rip. We're in the 3rd part of that fractal on eith

Leezah:
Jedisco how do I start this Betcoin thing

Hmmm....
I think we need to make a post on 'how to buy betcoin'
P.s Be careful of spelling it out fully cos of antispambot

I'd take it you know the basics about betece i.e it being a digital currency with limited supply and increasing demand hence destined to rise with more adoption.

It's still relatively in it's early days hence volatile. People trade different timeframes to profit from thet volatility i.e day trade, swing (usually few weeks), high time frame (target major moves- we usually have 2 or 3 of these per year), hybrid (mix of the above), and long term investors who just buy and keep for a very long time.

Now,
1. What timeframe do you want to use?
2. Are you thinking of investing a very sum or do u want to start out with a smaller sum?
3. What percentage profit are you looking at making and over what period?
4. What's the max amount of loss you're willing to accept over that period.

Your answers to the above will determine what advice I'd give so I don't make things complicated.

jedisco:
Who else uses the cryptoo fear and greed index for confluence?
It's quite a new one but I've used it in the past to hood effect.

Looking at it, it's quite obvious, the 38-42 level is key... Above that level, we're good below it isnt nice. It had currently dropped to 40, testing it as support... Lets see how it plays with this level over the bext weeks

What's more interesting is that altys have held their levels on this drop

Remember this chart... See it now.
Wasn't expecting a V-reversal on it. It surprised me.. . But then, we may have had our dip. The number of folks waiting on a sub 30k betece seem too much to be given that gift. This market does not reward the majority. If it rewards them, then it may continue much lower. I'm watching how this week ends to see the trend.

The fact that the dip today couldn't even hit 30k points to some heavy buying at support. It's those folks left out that'd FOMO in if it moves up to drive us past 40k. That said, it's that kind of retail liquidity whales like to dump into cos there'd be less slippage. So I'd apply caution until we reclaim the 34-35k level

luvlyoracle:
Wheew....Nice analysis... Been on eth though am tired of jumping around.
The more i jump, the more i loose

Hehe... Seems like you're really interested in trading.

I'd give you a tip.

Analyse any poor trade you make and what errors led to it. Write down the lessons you learned. It's a simple life saver.
The reason is simple, this market flows in circles. The easiest way to profit is by not repeating your past mistakes and avoiding mistakes of others when you can.

Regarding eith, I'd advise to hold. It'd outperform 99.9% of altys in the long run. As a newbie having part of your portfolio in btz or eith is part of risk management cos when the market turns, you don't want to be holding altz.

The previous eith run is what other altys are benefiting from now just as eith benefited from the previous btz run. It's time will come again. Look what happened this week when eith moved and how it squeezed up other altys. Be patient, when it moves well, you can sell part of ur stash into good but lagging coyns or you could take profit and buy up other altys on a dip. Playing either scenario will depend on what the market gives.

Usually, when trading altys, I split my portfolio between about 5 coyns I've penciled down. That way, I can take or flip profits when needed.

Jerry59:
Aave has been doing well recently, same as Makr

Yeah... Got into aave soon after in broke 95 whivh was its previous high.. it's over 200 now. I'm targeting 300 at least. Monitoring it as it goes up. It and dot have been sweet

For mker.. kept bouncing between 450 and 600 for a long time before it teleported to 2000. I don't like the upside wick on last weeks candle. I think it's done for a while

TheEnlightenedO:
Abeg how do I avoid getting banned again for another three days. What words am I using wrong with this antispam bot. I no Dey advertise anything na

Hehe...
Not so sure the cheat but this is what I use
Crypt0
Betece or btz
Eithy

Also if you quote someone, make sure those words are not spelled out in the original post

jedisco:
Looking at PA on betece, It's been rejected from 34k and is currently testing 32k as support.
I'm looking at 2 options for the bullish case

1. A strong flip of the 32k level which should take it past 34k

2. A breakdown of the 32k level which should make it go down to test the lows at 30k once more or may even wick to as low as 27k before rebouncing. Giving folks another buying opportunity... If this comes, I'd advise folks to leverage in. There is strong demand below 30k. No one can time the bottom and the fact is soon enough, it may not matter if you bought at 30k or 26k

Either way, I'm watching and hoping to capitalise. I'm leaning more towards the second option but not expecting to deep a wick. I also expect altys to hold either way.

Other thoughts?

Option 2 playing out but seems betece is struggling to sell off to 30k.
I see altys coiling... If I was a day trader, this is when I'd start averaging in. If betece bounces here, then altys will go crazy.

BTW, I have a ridiculous amount of Link but I feel I'm underexposed... If not for trading principles, I'd have closed other positions and Linked up.... This stuff will easily reach 40 once betece settles

Aave also coiling... Not bad..

Who else is feeling same way?

Leezah:
Good afternoon House!

How are you doing? hope the weekend is beautiful?

Please, what's are your thoughts on Crypto currency?

Joe Biden Administration is looking towards that direction

I'd say it shouldn't affect much in the long run. With more dollars printed cos of covid, the value of the dollar will fall and more money will flow into assets.

But then, you can ask on the crypt0currency thread for more varied opinions.

TheEnlightenedO:
This is exactly what is killing people now... Same thing most did in 2017, trying to jump in at its peak, wait for it to have some reasonable balance and set targets (most important thing).

Many people said it was too expensive even at 9-10k in September less than 4 months ago but now it doesn’t even matter that it’s over 28k

It's human nature... A bull run always needs irrational greedy buyers who are aiming for the moon that would ultimately get burnt.
That's the fuel that drives a bubble.

That said, I believe there's still some upside left. More of such posts would flood here in the coming weeks

Akinola2345:
You never provide a solution to the question ask...you keep on quote....

Will all this you are saying provide a meaningful answer..

I'm sorry for not providing a meaningful answer.

Akinola2345:
I want a long term investment... At %50-%100 return....if I put in 50k and could be able to realize 5ok profit... That is why I decide to go for a long time...
Thanks...

What if you put in 50k and after that time its worth 25k?

I'm asking cos alot of new guys see this area as a money spinner. It's not.

They say betece was 4k less than.a year ago and has done x10 since. If you had told then to buy at 4k, they wouldn't. Now it's 40k, everyone is looking to double their capital. There's a good chance folks will end up buying the heavy bags of those who bought earlier

Akinola2345:
Hi...guru

Which coins can I buy now on binance for a long time hold...like 6month to 1year??

Thanks

I'm not a guru. That's why I held on answering. But given we'd see more of these posts as the bullrun orogresses, I decided to chip in.

I'd give you my advice but you're the one to make the decision hence the responsibility is on you.

Let me ask you a question what percentage profit are you looking to make on your capital in the 6 month to 1yr period? That'd determine what advice I'd give

Looking at PA on betece, It's been rejected from 34k and is currently testing 32k as support.
I'm looking at 2 options for the bullish case

1. A strong flip of the 32k level which should take it past 34k

2. A breakdown of the 32k level which should make it go down to test the lows at 30k once more or may even wick to as low as 27k before rebouncing. Giving folks another buying opportunity... If this comes, I'd advise folks to leverage in. There is strong demand below 30k. No one can time the bottom and the fact is soon enough, it may not matter if you bought at 30k or 26k

Either way, I'm watching and hoping to capitalise. I'm leaning more towards the second option but not expecting to deep a wick. I also expect altys to hold either way.

Other thoughts?

Jerry59:
Spot on. I really don’t like TradingView on mobile.. tabtrader is the best have seen so far

Yeah... Quite clean... Just that I have my charts and indicators already saved on trading view

In this market, I love being in the right alts. I cannot overestimate the need to be in the right pairs and more importantly to time your entry.

Jerry59:
Limit order you mean

Yeah... But he should learn both limit and market.

Some exchanges don't have limit orders. On exchanges or pairs with low liquidity, I market sell most times once I see the order books aren't too thin

kings11ng:
I simulated buying 50k worth of bitcoin using bank card and bank deposit and I found out that you get more BTC when u try to buy with bank card.. Can anyone explain why it is so?

You're making a simple process very confusing.

This way you're using is the lay mans way of buying and I guess you'd pay a premium on both. Seems it's on the lite version which simplifies the whole process of placing bids for newbies. What you're doing is like going to a market, and giving someone your list (binance here) to buy your items for you.

The price of betece is not fixed and fluctuates second to second. To get the real price, search the ngn/btz pair and you'd see the current market price at that point (like I said, this price is not fixed but an equilibrium between buyers and sellers across all currencies, across all exchanges all over the world).
The market price you see on the ngn pair is the cheapest youd get it on binance at that point in time.

To add, binance is an exchange like a market place. So if you're not happy with the current price or you think the price would drop further, you can place your bids lower. When you go there, you'd see alot of bids placed above and below the market price.

I hope this settles your query

kings11ng:
How do you convert naira to dollars on binance

Not dollars but a stable coin pegged to the dollar. I.e whose value is equal to the dollar and does not fluctuate unnecessarily
Examples are (take the space away)
Usd t
Bus d
Usd c
Dai
Pax.

The most used is the first
To buy, load fiat to your account. Search on the market tab using ngn. You'd see all coins you can trade directly with the naira. Select the stable coyn pairing you want and purchase.

FlyHeight:
100% bro, do you think it’s wise to hoard some of this Polkadot thingy? Thinking of just taking a leap of faith with it , proli 2k worth

My brother it's difficult to say... No one can time the top of a bubble and it's always better to take profits on the way up rather than be forced to sell on the way down. It's in bubble territory now and I'm only interested in taking profits and not long term plays.

I wouldn't advise to get in now... A good area may be a clean break and flip of the 19-20 level or wait for it at a lower level.

After annoyingly selling link early at 13 earlier this year (bought at 4 ish), I was confident to hold dot when it went from 4 to 10.

I had estimated 20 to be a top but the stuff is still showing strength and ready to rip.

There's something about round figures in this market... Most trend reversals occur at round figures. If it crosses 20, then 28-30 is an easy target...

lovinhubby2wife:
Please am I doing this the right way?? I just bought ripple still using it for practice before I go in full time... is this properly placed?

Not to put sand sand in your garri, why not convert ur naira to usdt and trade on binance or you can still trade on Bundle Africa at market price
Fees are cheaper on binance, you can sell asap at market price without waiting and you have numerous offerings. If naira falls, you're not bothered.

FlyHeight:
Majority of folks seem to be in it or seem to want to get into it for magical results and quick profits...

Hehe... Thats normal human nature... People will usually ask if they can buy a coin when it has done 100%. Yesterday was a gift but people were calling for 20k. Same folks would start asking if they can buy when betece gets to 40k

TheZebra:
This is the best analytical analysis I've read here, God bless you sir.

Please Kindly give a brief analysis on ETh too, what time to take profit and what time to buy again, thanks. Current price: $1,260 and i bought at $300

You are x4 already so don't be greedy.

That said, we're at a pivotal part of the market. Betece played out thesame fractal when it first hit 20k. Eith is approaching ATH again which is a good area to take some profits. You can always get in on a break and hold of ATH... It's part of risk management... You bought low so taking some profits to add back when the market is clearer isn't a bad idea.
I believe it'd break ATH and the party would start

Houston17:
OK boss. Na wetin I observe I talk Sha but I'm ready to learn. Can you explain the bolder, like how do I go about that

Setting a market order is straightforward. It's simply setting what amount of your coin you want to sell and at what price.... Tohe best way to get it is by watching a video on YouTube. Thesame principle curs across all exchanges.

FlyHeight:
Baba Mining doesn’t work how you think. Now you need a shit lot of miners to even mine a quarter of what used to be possible, the running costs alone will milk you... Lefs not cap

Leave that guy... He's a low budget scammer.

He should explain any of those and tell us how profitable it's been for him