[riri]

o, how do you reap the increased value? How do you keep score? What have you learned? Which of your skills have increased?

I am just holding it all for now.

I am thinking I need a good way to get track of when I bought in and at what prices, quantity, etc.

So, much to learn. I am trying to replace my political podcasts with Crypto themed so if you have any good resources send them my way.

[amorphous]

Holding isn't a bad plan. It's the easiest and perhaps the best method for those inexperienced traders who want to catch the rising crypto tide. It might be nice to know when the tide is going out though.

https://bitcoin.tax/

https://pro.coinbase.com

https://hitbtc.com

TabTrader for my phone.

Excel spreadsheet.

Are some of the tools I use for trading.

I'm both a holder and trader.

You must keep excellent records. The tax program above has the ability to collect a record of your transactions from different exchanges and make sense of your profit/loss. But, you need to know where you stand at any time. Not just for tax purposes, but also to know how well you're doing.

I use a spreadsheet. I buy/sell in standard blocks (quantities) so I can identify individual sets/units of crypto. I increase quantities by increasing the number of standard blocks. I often place several independent blocks or buy/sell orders at the same price level.

For each buy/sell order filled, I have a spreadsheet entry for the date, coin, action, quantity, number on hand (for inventory purposes), price of each, total, basis, fee, profit, etc.

I use the last in first out inventory method of accounting. By this method, the last 50 ETH trades have been profitable. Think of trading like you would running a general merchandise store. Treat your buys as resupply and inventory. Get to thinking of making a profit (either in dollars or crypto - pick one or the other for keeping score). Think like a store owner and it will go a long way in helping you to make better trades.

Traders are the ones who keep the wheels greased. They're also the ones who add stability to prices. They serve a critical need in any kind of trading. Keep it fun. If you find yourself stressing, you have too much skin in the game.

Just some of what I've learned over the years of trading commodities, stocks, and now crypto. YMMV. :)

P.S.

Youtube has many great videos on technical analysis. The charts I use the most are open orders, price channel, volume, MACD, and a few others. The main time periods I look at are minute, hour, day.