How to Trade Crypto for Intermediates: Part I
Have you already tried your now-experienced hand at trading cryptos and own several coins, or maybe even tokens? Great! Today’s blog post is for you!
If you’re just starting your amazing journey in the crypto-sphere, don’t feel sad, because CoinMetro covered trading cryptocurrencies for beginners last year, in two parts. Novice traders, you’re wanted in How to Trade Cryptocurrency – For Beginners: Part I and Part II. Our detailed how-tos will guide through the basic steps of starting out as a crypto trader.
What’s in more for me as an intermediate trader
As an intermediate trader, you should be able to discover better functionality of your favorite crypto exchange. Beginners are often limited to the basic functions as they have no understanding of technical charts and analysis.
Trading with CoinMetro, for example, you have surely noticed that there is the Intermediate and the Intermediate Advanced Views available for the more experienced ones.
The Intermediate View offers:
- price charts – with Line, Bar, Candle, and Mountain views available;
- a detailed breakdown of your wallet;
- and the handy (customizable!) Quixchange feature, which allows you to quickly switch between your favorite exchange pairs.
The Intermediate Advanced View, on the other hand, offers more data like orderbook, information on pairs, new type of orders, and a bottom tab for order history. These features may be familiar to you as they come from the Trade View and have now been merged with the Intermediate View for our users to place orders in a more comfortable way easily but with more data available on the screen!
If you’re using a different exchange, we recommend you to explore its additional features that you haven’t noticed before. They are not meant to make a trader’s life more complicated, but offer some shortcuts instead or even a better overview of the current market situation.
Charts and technical analysis really work
To step up your game, it’s time to give yourself the precious gift of self-education. First, make sure you know the most widely used terms in the crypto industry and then take your time to study the basics of technical analysis and (historical) charts.
This way, you will be able to make better, more accurate, price predictions for your favorite cryptocurrencies, which is extremely important in terms of conscious trading. Beginner traders mostly rely on luck, but the more experienced you become, the more exciting it is to understand what and why you’re actually doing.
Our best tip is to check with your favorite exchange if there is an education/academy section with articles about the different types of charts and the basics of technical analysis. Most exchanges offer free educational articles and academies that allow you to study step by step and even obtain a certificate once you complete the course.
In the next part, we’ll share more tips on how to level up and take an important step in becoming an intermediate trader. Don’t miss it because this is your way to becoming an advanced trader in the future!
The CoinMetro Team