Hello Trader,
Today is all about good beginnings. I'm starting a thread that will help y'all to trade crypto. In this first post, I will explain what crypto-trading is in simple terms that everyone can understand.
CRYPTOCURRENCY/CRYPTOCOINS:
- This is any digital currency like Bitcoin, Ethereum or Steem.
ALTCOINS:
- This refers to all other cryptocurrency that is not Ethereum
CRYPTOTRADING:
- This is the act/process of converting one coin to another with the aim of making profit
CRYPTOTRADER:
- This is a person who exchanges one cryptocurrency to another with the purpose of making profit in the process.
EXCHANGES (noun):
- This is a website/app that allows the easy conversion of one currency to another.
VOLATILITY:
- This is the ability of coins to markedly increase or decrease in value over a short time.
BAG:
- This is a cryptocurrency that you have bought.
PUMP:
- A marked increase in price
DUMP:
- A marked drop in price
PUMP & DUMP (noun, verb):
- NOUN: A cryptocoin that can easily be manipulated by market makers hence shooting up the price to attract buyers and selling it off to take profits
- VERB: The act/process of doing the above
BAG HOLDER:
- Someone who has lost some money because of the rapid drop in price of a pump & dump coin.
SHITCOIN:
- Another word for pump & dumps. A wordplay on bitcoin. Lolx
SATOSHI NAKAMOTO:
- The anonymous person who founded Bitcoin
SATOSHI:
- This is the smallest unit of 1Bitcoin usually used in trading Altcoins.
- 1 Satoshi = 0.00000001 Btc
BULL MARKET:
- When prices are going up or about to go up
BEAR MARKET:
- When the prices are going down or about to go down
TO THE MOON:
- When the bullish market is getting to a place it has never gotten before.
ATH:
- All time high.
ATL:
- All time low.
FOMO:
- Fear Of Missing Out: the psychological state of a trader who hasn't bought when the prices are high
FUD:
- Fear, Uncertainty & Doubt: the psychological state of a trader who has a coin when the prices are low
HODL:
- The cryptotrading equivalent of HOLD. It means to retain a coin whether the prices are going up or down.
With these I come to the end of today's lesson on common crypto-trading terms. In future tutorials we will take each one by one.
Thanks for reading!
Cheers!
I still remain me, my mouth & eye 
aka SteemDaddy. My aim is to leave you better than I find you everyday.
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