Digital Finance

TIPS FOR BECOMING SUCCESSFUL IN CRYPTOCURRENCY


Know your stand, either trader, Investor or hodler

2. Investors are usually VIPs and companies who put millions of USDs into cryptocurrency

3. Hodler is individual like you and I who buy crypto depending on his capacity and keep it in his wallet for longer time like one year and above

4. Don't perceive crypto as quick rich scheme

5. Don't give up when you lose in a trade

6. Don't decide i.e buy without consulting

7. Don't join FOMO trends (Fear of Missing out ) meaning don't buy coin/token when it is at highest peak during short term goal

8. Don't be so anxious

9. Continue learning from experienced ones

10. Join online webinars,seminars and tutorials for more knowledge

11. Follow and continue learning, learn by reading, viewing and practicing

12. Don't borrow money to invest, invest with your fund

13. Don't invest fund to look for huge return in a short interval, cryptocurrency market use to turn abnormal despite analysis, something fundamentally happens to change the market actions.

Trading Terminalogies

1 Order: This means how /where u enter or exit a trade

2 Buy. Meaning u should buy(enter) a coin

3. Sell: meaning u should sell off (exit) what u have bought

4. SL: means stop loss ,the point at which a trade is considered invalid and will go against ur prediction ,at this point u are to exit the market

5. TP means Take Profit or Target Points , these are places u are expected to take profit or sell off ur positions


6. Satoshi: The smallest units of Bitcoin usually in this form (0.00000001)
This means 1sat and so on, will throw more light on it

7. ATH: All Time High,the highest point a coin have ever gotten to reached

8. ATL : All Time Low, lowest ever reached by a coin


9. Ranging/Consolidation

When a coin is resting at this point there is no significant increase or decrease by coin

10: Trend: The direction of a coin, can be uptrend or downtrend

Uptrend if going up and downtrend if going down.

11The Bulls: These are sets of traders or investors who wants to the price of a coin to keep going up

12: The Bears : Those who wants the price of a commodity/coin (Market) to go down wards

13: Support: The lower boundary which prevents the price of a coin to keep going down,this is where a buy order can be placed

14: Resistance: The Upper boundary which prevents a coin to keep going up , this serves as a place to sell or close ur trade.

15. Tether Your Fund: This is when a trader converts his/her fund to a stable coin known as USDT (United States Dollar Tether) which is one is to one,bcus the market is unstable at the moment or bcus he/she doesn't want any effect from btc instability actions to effect his/her fund.

$1=1USDT


16 PUMP : when a coin is rapidly going up.

17 DUMP : When a coin is rapidly going down which is also known as crashing

18: FOMO : Fear Of Missing Out ,this usually happens when one hurriedly joins a pumping coin just because he/she doesn't wants to miss out on the trade.

It is always advice not to FOMO in


19: FUD : Fear , Uncertainty and Doubt. when people creat unnecessary panic in the Market without being certain or sure of their source of information

20. Coin Market Capitalization (CMC)

This is a site where all the cryptocurrency is listed and has information concerning them detailed.

💥💥👇🏼 KNOWLEDGE FOR EVERYONE

In every industry, there is a special language to make communication easy and efficient. Those abbreviations have a great impact on the industry, lets understand what they are.

List of abbreviations commonly used in cryptocurrency trading.👇🏼

#Altcoins: Alternate cryptocurrency that is any cryptocurrency other than bitcoin
#Bag Holder = A person who buys and hold coins in large quantity hoping to make good profits in the future.
#Bear/Bearish = Negative price movement
#BTFD = Buy The Fucking Dip
#Bull/Bullish= Positive price movement
#DILDO = Long green or red candles
#Dump = To Sell off a coin
#DYOR = Do Your Own Research
#FA = Fundamental Analysis
#FOMO = Fear Of Missing Out
#FUD = Fear Uncertainty & Doubt
#HODL = Hold/Hold a position
#Long: Margin bull position
#MCAP = Market Capitalization
#Moon = Continuous upward movement of price
#OTC = Over The Counter
#Pump: Upward price movement
#Shitcoin = A coin with no potential value or use
#Short = Margin bear position
#TA: Technical Analysis
#REKT: When you have a bad loss
#Whale = Very Wealthy trader/Market mover.
#Weak Hand = a coin holder prone to selling at the first sign of a deep in price.
#bitcoin #cryptocurrency

❓ What is the Fear and Greed Index?

The Fear & Greed Index shows the general mood of traders in the market.

1. Fear (0-49) indicates low prices and the willingness of investors to sell coins. Greed (50-100) indicates heightened buying interest and market overheating.

2. The index takes into account 5 factors:
- change in market volatility compared to the average.
- increase / decrease in trading volumes per day.
- activity in social networks by keywords (Bitcoin) and general mood.
- change in BTC market share: growth = conservative mood, fall = greed of investors in pursuit of xx on altcoins.
- change of indicators in Google Trends for keywords.

3. The index reflects the past or current market situation, but does not predict anything. It should be used to understand the general mood. Usually, profit is best taken when investors have maximum greed. And to buy back tokens when everyone sells in fear.

#Tutorial