This is the most technical part of the process, it seems confusing at first but once you understand how it all works you'll be a professional day trader in no time.
If you haven't read the first two parts explaining how we purchased the coins and transferred them to our exchange then please do so now.
If you haven't read the first two parts explaining how we purchased the coins and transferred them to our exchange then please do so now.
Step 1: How To Purchase Coins
Step 2: How To Send Coins To Exchange
For our examples referenced in the previous post, we will stick to LTC (LiteCoin) for trading and use the KuCoin Exchange.
1. Go to KuCoin, select Markets.
2. A giant list of coins will be shown, make sure you're on the BTC market
3. Now in the search bar, type in LTC or manually find LTC
4. Click on the market (shown in the picture below)
5. Once you're in the market, don't get scared because it looks complicated. The values shown are all rated in BTC value.
6. The graphs are extremely useful and you should learn to analyze these to help predict what the market will do. Never buy into a pumped coin unless there's some major news that has been confirmed. Always research a coin before purchasing, do not blindly buy into a coin because you seen someone post about it on twitter or a friend told you about it.
7. Once you think the coin is at a price you would like to sell at, simply go to the sell box and enter the amount you would like to sell and the price in BTC that you would like to sell at.
You can either tap the box to select the current market value for the BTC price or manually enter this to potentially get a better price or if you're wanting to get into a coin fast due to major news, bump the price up to ensure that you purchase the coin faster.
The amount can be manually entered or you can use the percentage bar / box to select how many of your LTC you want to sell.
8. Once you've chosen a price that you're comfortable at, hit sell / buy.
9. The order will be placed into the Active orders, you can cancel these at any time
10. Once the order has been sold / purchased, then it will move into your Deal Orders, you can views these for future reference to see what price you bought in at or sold at to make profit.
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