Hey Patrick,

Yeah, emphasis on the entry or exit is going to come down to how you view the markets. No right or wrong, just depends on how you see the world.

I personally believe that the entry is more important because it’s something that you can clearly define. After you can establish that the entry has an advantage, then you can work on getting more per trade with the exit. But without confidence in your entries, the exits are a moot point because you won’t enter trades consistently.

I’m not a day trader, so if you want to learn that, check out these two interviews:

https://www.tradingheroes.com/ttl026-greg-mcleod-scalping-forex/
https://www.tradingheroes.com/ttl-0015-trading-for-a-living-risking-only-8-to-12-pips-per-trade-kim-krompass/

Hope your trading is going well.

Hugh

Hi Quentin,

Yeah, that’s a legitimate question and one that I’ve asked myself too. Since I first wrote this, I have done some research and I’m not too sure about Tether. I’ll update this post to reflect that, as soon as I form a conclusion.

First of all, there is going to be a lot of negative stuff about most new technology. We have to take everything with a grain of salt. Some is true, some is misinformed paranoia by people with too much time on their hands. Several other currencies were hacked in the beginning, so Tether getting hacked is nothing out of the ordinary. It was brand new tech and there were some flaws. Ethereum got hacked too, but they have taken steps to fix that issue.

That said, I think Tether is OK for now, when it comes to locking in some funds for a short time period to look for your next trade. My biggest concern is when the crash happens (and it will happen at some point) and everyone is heading for the exits. People will either try to cash out their funds into their fiat bank account or exchange for a pegged currency like Tether.

If there is bottleneck in exchange execution or how Tether pegs the currency, a lot of people will get stuck with big losses. Tether might even go under. I don’t see that happening soon, but I would start to look for “irrational exuberance” because that will show that the top is near.

To understand what could happen, look at what happens when governments peg and unpeg their fiat currencies. The most recent is the Swiss Franc or “Francogeddon” in 2015.

I’m still doing research and I suggest you do the same. I’ll update this post and do an in-depth writeup inside CoinCrew when I form a final conclusion.

Thanks,
Hugh

Hi,

Thanks!

1. Trade your crypto for USD, EUR, or whatever you currency is.
2. I’m not sure about Bitfinex because the have shut out US traders. But some sites like Coinbase take credit cards. You can buy Bitcoin there, then transfer it to your exchange of choice for trading.
3. The first column is the price, the second is the amount of coins that have been traded that day and the third is the amount of price change that day.

There are no dumb questions 🙂

Hi Scott,

You’re welcome. I’m not big on any ICO’s right now. I think that market is starting to get overheated. However, if you do your research, then there are still quality coins out there. You won’t be able to get them for super cheap, but sometimes you need to pay up for real value. Almost all of the major coins are going through the dump phase right now, so they are all potential Baseball Caps. You need to research each coin and decide which ones have the best future. If you like any of them, then you can start to look for a level on the chart where the “bill” of the cap starts to form.

“Some exchanges allow you to trade your cryptocurrency for your local currency, without doing a withdrawal to your bank, so that is the ideal situation. Bitfinex is an example of an exchange that does this”_
I wanna know how can I withdraw money in my fiat currency without doing withdrawal to my bank?

When I wanna buy crypto first time, let’s say from Bitfinex, does it require to link a bank account or takes money via credit card? If yes, are there other options whereby it can be done without using credit card or linking bank account?

You shared screen shot of Tether Trading on Poloniex, I’m confused what each column means practically? Can you please elaborate what does the row starting with ETH really mean?

I’m sorry for so many questions that might even seem dumb. Thanks a lot for your time and attention ?