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SIGEN is a cryptocurrency trading platform. Exchange, P2P platform and exchanger.

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Cryptocurrency Trading Strategies: News Based Trading

It is rightfully assumed that cryptocurrency prices are strongly affected by news. News based trading is one of the popular methods to trade on cryptoexchange. Let's have a closer look at some of the fundamental principles you need to adhere to in order to preserve and increase your funds.

Most traders operate as follows:

  • When news are bad, all traders fear a drop in price and engage in a “sale”.
  • When news are good, they buy cryptocurrency.

This is an adequate response to news. However, in terms of making profit this is not always the right strategy.

If you want to make profit, the right strategy would be the opposite one:

  • When news is bad, buy cryptocurrency.
  • When news is good, sell cryptocurrency.

In this case, you'll be able to make profit since cryptocurrency price is lower when news are bad.

Sources

A lot of beginning investors and traders notice that news have an impact on the Bitcoin price. A lot of them try to trade based on their own interpretation of the news. They soon can see that they suffer losses or fail to make profit by misinterpreting an event.

The key reason for misinterpreting is using an unreliable source of news or, more often, a source that publishes the news too late for making trading decisions.

Therefore, you need to find an adequate source of news. One of the best sources is forums and blogs. It's also important that forum and blog participants share their trading knowledge and experience and analyze errors and problems.

Local manipulators

Some players on cryptocurrency exchanges set up groups tasked with initiating cryptocurrency price movement in the right direction. They can have significant means and use them to rapidly increase or decrease the price.

However, local manipulators don't need to spend their own funds — they could just make a stir around a piece of news and force traders buy or sell cryptocurrency. This is exactly when manipulators make a profit by making the right bids.  If an exchange has a chat, it's an advantage for manipulators since they can use it to directly influence traders.

There's some speculation — though having no proof just yet — that certain global news regarding cryptocurrencies are also initiated by manipulator groups. Operations of some exchanges were even suspended this and last years on suspicion of using insider information.

Therefore, even if you trust your source, you must always double-check all news, employ analytical tools and compare price movement on various trading platforms.

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Cryptocurrency Trading Strategies: Arbitrage

In previous publications, we talked about some popular trading strategies, such as scalping and news based trading. Today, we'll tell you about another strategy — arbitrage.

The arbitrage strategy is when a trader trades on multiple exchanges. They use the difference in cryptocurrency prices on different exchanges and makes a profit on this difference. The trader compares prices on multiple exchanges and calculates the profit: where cryptocurrency can be bought at a lower price and sold at a higher price. In other words, the trader compares the price of the same cryptocurrency on different exchanges and calculates when the profit will be larger.

Arbitrage is not an easy-to-use strategy, but it's quite profitable

This strategy cannot be regarded as an easy-to-use strategy, but such trading can be the most profitable. To engage in arbitrage, you need to register accounts on multiple cryptoexchanges and carefully analyze and memorize their respective functionalities. You need to do it to rapidly respond and not to lag behind when you create buy/sell orders.

It's important to correctly calculate fees to be paid for transferring funds between exchanges and to account for the deposit/withdrawal rate. You should also analyze and memorize how prices usually change on specific platforms. Just like with any other strategy, it's good to master analytical tools, learn how to rapidly and competently read and understand charts.

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Scam or No Scam — This is the Question

All of you probably know that “scam” literally means con or fraud. However, in the online world, this term has a narrower meaning — raising funds for an allegedly promising project that will then disappear together with the investors' money.

Pre-Scam

Scam-projects usually spring up in hype industries, i. e. the fastest-growing sectors. 
Cryptocurrencies and Blockchain are a hype sector now; therefore, a lot of conmen find their investor victims in this area.

A scam project is very hard to identify initially. Since cryptoindustry grows very fast, no developers can be confident their project will be a success.

The difference between a scam and any other project is that scam has no success embedded in it — it's just about collecting money from the investors.

However, there's a range of characteristics that might prove a project is a scam.

Scam Characteristics
- Regular technical issues on the project web-site, DDoS attacks and failures may indicated a project is a scam.
- An important scam characteristic is the low activity of the support service. No one answers your questions, no one responds to your comments or replies with trivialities.
Despite the announced big plans, the project makes no headway and does not grow.
 - Problems related to withdrawing or getting back your funds are probably the most obvious characteristic of scam. In the case of cryptocurrencies, it may be an issue related to selling the tokens. Unfortunately, if the investor reaches this stage, it's hardly possible to get back the invested funds.
 - A lot of negative reviews are published online, there's a strong negative feeling around the project on professional forums — this is what you should look out for. Cryptocurrencies are still an area for the “advanced” investors who understand what they invest in — don't ignore their opinion.

These are the key characteristics of scam projects. Each characteristic on its own may simply mean that a project is experiencing some growth difficulties. Together, however, these characteristics are a sign it's not safe and the project is, in all probability, a scam.

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What is an Order Book on the Cryptoexchange?

An order book is a serious and efficient tool that can be used to analyze the cryptocurrency situation. This is how it works.

Buying and selling

The order book is a visualization of bids and asks on the exchange. It provides you with in-depth information about the correlation and volume of cryptocurrency demand and supply in real time.

On SIGEN the blue part (green or other colors on other exchanges) of the order book shows Buy Orders. The red part shows Sell Orders. Consequently, the market price is most often between the best sell price and the best buy price.

Information in the order book reflects the depth and sentiment of the market and can be used to make pretty accurate forecasts regarding cryptocurrency price movement. The order book shows the biggest orders that can be used to make trading decisions.

Pricing

The order books allows you to simultaneously see two price categories: the topmost Buy Order reflects the highest price buyers are ready to pay for cryptocurrency while the topmost Sell Order reflects the lowest price sellers are ready to sell the asset for.

For instance, the price in the order book is fixed the following way: when cryptocurrency is sold at a favorable price, it's replaced by another order with the ask price higher than in the previous order. Transactions follow one another, with each subsequent one more expensive than the previous one. With falling prices, the situation is similar, except that the buyer creates a low-price order and when this order “plays out”, another order is created, with an even lower price.

As a rule of thumb, picking the entrance point with the help of the order book works best for players who aim to hold their positions over some trading sessions.

Whatever purposes you are to use the order book for, you should do so carefully. Why? We'll tell you in our next publication.

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Movement in the order book: Trend and Manipulation

As mentioned in the previous publication, the order book may be a useful aid in determining the trading strategy on the cryptomarket.

Trend

The information in the order book clearly reflects the predominating market sentiment — buy or sell. You can see how demand and supply correlate. Each trader makes their own decision as to how they are going to trade using the order book data. However, most of them will follow the trend while strengthening it further.

When the price change dynamics is especially high, aspiring traders must be very careful not to fall victim to the stir around buying at a high price and not to take part in the panic selling of cryptocurrencies.

The trend may be modified by a big player or multiple players who create very big orders against the general trend. The price may also change under pressure from a lot of traders who simultaneously respond to certain events on the cryptocurrency market, such as the news.

Manipulations

Aspiring traders often confine themselves to the order books since the latter visualize things very well, and traders think they don't need any other tools. This strategy, however, is a mistake.

The truth is the order book does not show the entire picture of the market:
- Big players may create false order and later cancel them. This will cause the trader to respond to changes in order book data randomly and incorrectly, thus suffering losses.
- Big orders with the price being 1 or 2 points lower or higher than the market price can be created for manipulation purposes, to create the feeling a massive buy or sell is about to happen.
- Some players don't even create orders — they just store coins on their balance and sometimes use orders previously created by other players; therefore, the order book will not reflect the real demand / supply picture.

Order books are often manipulated; to prevent it, you need to crosscheck order book data using other tools for price movement analysis or even turn to the order book as the last thing. If price movement seems suspicious, you should compare prices on a few exchanges.

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How Can You See the “Double Bottom” and Use It to “Hit the Skies”?

A lot of trading players look forward to the so-called “double bottom”. The name derives from a very particular charting pattern. Why this name and what's interesting about it?

Chart

The “double bottom” looks like the letter W. This chart pattern is generated when the price hits a low (the “first bottom”), then rebounds and drops again (the “second bottom”) to finally soar.

This movement demonstrates that the market is out of balance, with traders fighting to close transactions during the “first bottom”. When the price starts to rebound, some traders open positions, and the price drops. Traders with a good reaction manage to make quite a profit from the W-shaped pattern. Holders, i. e. traders who hold their assets and do not respond to minor market movements.

The “double bottom” may be forecast even before it starts to form. For example, when a long-term slump in price is interrupted by good news and the price starts to slowly grow.

Using the double bottom

It's important to promptly notice that the “double bottom” is forming: drop – rebound — drop and subsequent price growth. The point is that a part of investors leaves on each curve of this pattern believing that they know how the trend is going to change further. Obviously, they make the same mistake three times before they can see that the price, having gone through the drop – rebound – drop sequence, starts to soar.

In this case, the most patient players are the ones that win. This patience is based on a better knowledge of how to use the tools for price movement analysis and on not jumping to conclusions.

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Accumulating and Distributing: a Thing or Two About the Accumulation/Distribution Indicator

The Accumulation/Distribution indicator (AD) was first described by L. Williams in 1972 in his book “How I Made One Million Dollars”. Let's talk about it in a little more detail.

AD

Accumulation/Distribution is a volume-based indicator accounting for the general trend, volume of trading as well as the opening/closing prices and low/high prices. On the plus side, this indicator is synced with the price rather than based on calculating an average value. AD is primarily a trend indicator that both adequately determines the price at the observed point in time and is a useful tool for making forecasts. If selected, this indicator is usually displayed below the main chart of security price movement.

Interpreting AD

There's a mathematical formula that helps interpret this indicator. However, most traders confine themselves to the visual observation since the Accumulation/Distribution indicator is sufficiently insightful in itself.

The indicator shows that the nearer the closing price is to the high or low price, the bigger share is obtained by the bulls (traders operating for a rise) or bears (traders operating for a fall).

Accordingly, if the indicator shows the price closing in a downtrend (the indicator value is less than zero), bears are dominating; if the price closes in an uptrend (the indicator value if greater than zero), bulls are dominating. On other words, the market is owned by the former or the latter.

Moreover, if the trend updates the extreme value (maximum or minimum) while AD does not reproduce this update, it may mean the trend is about to reverse.

As we can see, the Accumulation / Distribution indicator may be the key indicator for selecting the trading strategy on the cryptomarket.

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SIGEN Resuming Operation! Lots of Useful Upgrades!

Dear friends! SIGEN platform maintenance has been successfully completed, and you can resume trading. The website was temporarily down due to a large-scale upgrade that will make your user experience on the platform even more secure, convenient and enjoyable.

What's new:

- Platform security features have been upgraded and taken to a new level.
- Protection against DDOS attacks has been stepped up.
- Funds can be withdrawn without password re-entry.
- The header now includes available funds only.
- Messages from the P2P trading chat are now also sent via e-mail.
- The message signing button is now more visible and text-based.
- The exchanger page has been modified — repetitions have been removed, and infographics link has been added.
- Non-key sections have been hidden under an icon.
- The deposit/withdrawal feature has been moved to the “Balance” page.
- Fees have been moved to a separate column.
- Lots of visual changes have been made: design improved, bell icon added to the header, new dashboard icon added, balance data visualization modified, button color changed to blue, QR code on the wallet page is now displayed sideways + lots of other minor changes.

We apologize for the temporary website unavailability, but, as you can see, it was not for nothing. We're happy to do our best for you. We wish successful trading!

Sincerely yours, SIGEN team.

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Important Rules of Cryptotrading: No Greed, No Panic

In one of the previous publications, we already told you about the main rules to be followed by a trader on the cryptocurrency market. Today, we'd like to consolidate this knowledge and tell you about the two key rules to be known by each trader.

Don't fall victim to greed

Don't fall victim to the desire to earn as much and as fast as possible by buying cryptocurrencies with no regard to the price and the trend. Don't expect the price to always soar or slump unless analysis tools unambiguously prove it. If an aspiring trader feels the thrill that cannot be analytically explained, it's time to stop and exit the trade.

Don't surrender to panic

Panic is even more dangerous than greed. It's harder to tackle since usually it attacks you when the price collapses — it seems you could lose all your assets. However, you often need to stop and exit the trade to avoid becoming a part of panic selling.

As regards cryptocurrencies during panic selling events, it's worth remembering that, despite their volatility in the short and medium term, in the long term cryptocurrencies demonstrate a constant growth, and it's best to be able to trade in the current prices rather than surrender to emotion, sell all your assets and quit trading for good.

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