A Kenyan Crypto Trader/Investor's Tips and TweakssteemCreated with Sketch.

in #kenya • 7 years ago (edited)

I find that I cannot fit my Crypto strategies in a box. Sometimes I day-trade, sometimes I swing-trade and sometimes I hold a coin for a while. Being static in a dynamic environment is foolish!

Overtime, here are some tips and tweaks I've developed (or copied)

1. 'Hiding' in USD in unstable times

Sell Altcoin to BTC => Buy XRP using BTC => Transfer XRP to Kraken/Bitstamp exchange (takes less than 2 minutes) => Cash out XRP to cold-hard cash (USD).

Railbocks (Nano) is coming up as a no transaction coin, and will serve me well after mass adoption and acceptance all most exchanges I use.

2.Stop Loss

The rule of thumb is 'Dont swim naked!!' When the tide goes back, yo'll be left all bare! If the recent pull-back from a high of 20k to a low of 7.6k is anything to go by. it's always have a stop loss when trading.

Youtube has some nice videos on how t set stop loss

Updates will continue. Learning is lifelong

#cryptocurrency #trading
7 years ago in #kenya by
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