Forex Support level – an explanation for beginners


Forex Support level (also known as the currency exchange or currency) – a horizontal line the bottom of the price range of trading in the currency market. You could see that the lowest points of days will shape the trend patterns. This is the line of your Forex support level.

This is a psychological level, as investors believe that the price should be bought. And they will continue to buy when price supports these lower prices, thus forming a support for the purchase of the base currency.

However, the new break below support level indicates a willingness of investors to sell more low prices, possibly due to changes in economic factors that make the currency more devalued. If it is below the psychological level, investors who want to buy, take the attitude of "wait and see", to see if they can get it even cheaper prices.

The lack of incentives for the purchase of these more cheap levels will lead to a drop in the currency even more. Quick currency trend may cause a decrease in a panic sale of foreign currency, which will make prices spiral even faster.

The base currency will go down until the buyers do not find that the currency is undervalued and a & # 39 is a bargain for such a cheap price, and expects that soon it will begin to grow as the global economic situation and improve. They form a new level of support for the purchase, if they feel that they have the potential to get very high returns, but the possibility of losses is limited.


Learning Forex – Bollinger band can give you a huge edge shopping is why


One of the most important parts of Forex education for any Forex trader with a & # 39 is a standard deviation of understanding of the concept of price volatility and use to their advantage.

If you understand the concept, you can easily apply it to the Bollinger bands to a & # 39 are an important tool for all forex traders.

Let's understand why Bollinger band is so useful and profitable when they come into your Forex strategy.

If you do not know what the standard deviation, simply check out our article on the concept of – well, let's see Group Bolingera.

Bands defined Bolingera

Bollinger bands – it's just a band of volatility, which are drawn on each side of the moving average.

You want to Bollinger bands using the standard deviation of prices over the same period that the moving average price, then pounce volatility ranges above and below the moving average.

Moving averages are used to identify the primary trend rates, and Bolingera band make this a step further:

The combination of the moving average of currency with individual market instability (or standard deviation) – it creates an envelope for trading – with the average price average (moving average and 2 x ranges (expansion or contraction) in any direction, reflecting volatility or standard deviation.

If prices are removed from the long-term average, standard deviation increases – and hence the bands will fluctuate in various amounts, relative to the average.

Why do they work

In any market, the cost gandlyuemay currency tends to rise slowly over the long term.

Prices may soon jump sharply, but usually return to the long-term moving average – which is the fair value.

Standard deviation of external bands (as they are far from the average value) shows how far the values ​​from long term rates.

Most price spikes caused by trader psychology, with greed and fear to the fore, and it can be detected Bolingera groups.

So, you must use the group Bollinger?

There are 3 main ways to use them.

1. Spot price hikes

If the bands are far from the average, you can use the Bollinger as a return signal bandwidth on existing trades or to use them to determine the conflicting transactions.

2. Enter the current trends

If you have a good trend in the currency markets, you can take advantage of the failure of the middle band, to buy at a fair price.

3. Introduction of new trends

If prices traded in close range and begin to make its way to the change in volatility can & # 39 with a new trend appears.

Bollinger Bands can certainly give you a new dimension to your trading strategies in the Forex market, and any currency trading system can take advantage of the additional information that they can give you.

a word of warning

As with all technical indicators, you should not use Bollinger bands in the single-player mode to enter trades, but in conjunction with indicators such as, for example, stohastychny or RSI, then you have a powerful combination for greater currency earnings.

With regard to education in Forex, knowing that such a standard deviation, and how to apply the concept through Bolingera band, will give you a huge trade advantage, so make sure you use them.


End of Bitcoin – the beginning


This week has stopped and the possible collapse of the city. Gox exchange may or may not be the beginning of the end for the Bitcoin – but draw the phrase of Winston Churchill is definitely the end of the beginning.

Mt. Gox Bitcoin has lost his place in front of the leading stock exchange hazy chain of events that led to the closure of the site in Tokyo. Apparently, an internal document leak indicates that the site may have been a victim of a major theft, resulting in possibly more than 300 million dollars to bitcoin "disappeared" from the stock exchange accounts. I put the "disappeared" in quotation marks because, of course, bitcoin has no physical manifestation.

Bitcoin exists only as a product of computer & # 39; a computer algorithm, the origin of which is unknown, and the final destination of which is unclear. He drew a diverse collection of users, including people who want to keep questionable deals in private, people who may retain a portion of their wealth hidden from the authorities, who have access to conventional financial accounts, and those who are thinking about a final peace. civilized society is on the highway to hell and why it is better to own Bitcoin, when we all come back.

Fans like to call Bitcoin is a digital currency or cryptocurrency due to its encrypted nature. But now, amid the wild fluctuations in price Bitcoin, it is clear that this is not a real currency. It's really the goods, the price of which varies depending on its quality, as well as supply and demand.

As of this week, there are two varieties of Bitcoin. One of the Mt. Variety Gox, to which no one can access until the site is not working, and that there can not exist there, yesterday was worth only about one sixth of other bitcoin.

Some people are always ready to offer valuable, albeit not very valuable to risk possible negligible value. That is why the stocks of companies that obviously lost, may trade at a price greater than zero. But at least we know that there are stocks in tangible or intangible form, and there are government agencies that can prove their legitimacy, if not their value. Bitcoin, which is not funded by the government and which is banned by some, has no such support. Ask any Mt. User Gox today – is a plus, as the owners of bitcoin previously supported. (Authorities from Tokyo to New York already zondavali Gokcen collapse of the city, and what's the next action seems likely.)

Real money perform two functions: as a store value and as a medium of exchange. Until now bitcoin it receives only honest assessment as a means of exchange, since there is only a limited number of places where you can freely pursue his. You can change your (not horizontal) bitcoins for real money, but you can do the same with any other commodity, such as diamonds or Honda. Diamonds and Gonda cost money, but they – not money.

Bitcoin is fully pronounced test value, because their wild swings do not preserve the value of the price; Depending on blind luck they either create or destroy it. Gathering bitkoynav reasons rather than to save. There is a big difference.

Bitcoin to cope with certain problems in the real world, such as the sometimes excessive costs of currency exchange and cumbersome nature of the modern banking system, which is justified by the rules to try to prevent everything from failure to money laundering to stealing identity. But the rules exist because there are also insolvency, money laundering and identity theft. As the mountains. Gox vividly illustrates: a system without such guarantees tend to create problems much more serious & # 39; serious than those he intends to solve.

Mountain. Debal Gox may or may not undo all the authority of Bitcoin. We will not know anything until we learn what happened to these computers in Tokyo. The crisis should, however, to deprive all that remains of security veneer, which was supposed to provide a bitcoin. Bitcoin is not more secure than the structure created for its content. In the absence of back-up points have evolved over time in the traditional financial system, it is not safe. Either we re-create these backups in the Bitcoin world, and in this case we need to ask why we are concerned primarily with Bitcoin, or live without them dangerous.

There will always be people who do not trust banks, and the government to ensure their savings. Previously, they ran the cash in the mattress. Perhaps some will continue to use Bitcoin instead. I believe that the chances of Bitcoin become the main form of payment as a debit card or PayPal, is virtually zero. This may not be the beginning of Bitcoin, but the end of the beginning, we saw exactly.


How to use stohastyku to improve trade


Many traders underestimate the efficiency and ease of turning trade using stohastychnaga oscillator. Stohastyka – one of the best indicators that can determine when the currency or perakuplyaetstsa or resold. Using this indicator, you can determine if the trend is about to be back and to take advantage of this turn in the opposite direction.

Here's how this strategy works:

As discussed earlier, we simply use the conversion trend, therefore, if the currency is overbought, we sell or disadvantage, and vice versa, if the currency is resold, where we will buy or go long.

Stohastychny oscillator & # 39 is an ideal indicator for this type of strategy, but before we enter into the very strategy, let's leave the technical explanation of the way. Do not worry, it's a visual indicator, and you really do not need to fully understand the formula. The formula is provided so that you know how the "engine" that controls this oscillator.

The assumption of this technical indicator is that to the extent that, as the currency is close to 100 percent moving average will take a turn for the fall in the value down. The same goes if the price is close to 0 percent moving average value when the return will rise in price growth.

The indicator is constructed as follows:

This oscillator consists of 2 lines, slow line -% D, and fast line -% K.

Since this slower% D line is less sensitive than the line% K.

Line% D – is moving average of% K.

The signal line is provided trade% D.

These lines are shown in the graph in the range from 0 at the bottom of your diagram 100 in the upper part of the diagram, indicating absolute maximum and absolute maximum points, which can receive currency. In these two lines, you will find a line of 80%, and the line – by 20%. If the price exceeds 80%, it is expected to buy up, and if it is below 20%, it is expected to resell.

Now let's trading signals:

1. Determine where your support and resistance levels, it is important to know.

2. Check how extreme perakuplenasts or resale.

3. Wait for this crossover% K and% D in stohastytsy fast and in slow stohastytsy to confirm and enter the transaction.

4. Be sure to enter the stop using the resistance and support lines for their determination.

5. Take your profits early on to the next turn. You can use the following as a crossover signal "to make a profit."

6. It is in fact a lesson that I learned many years ago, not be broken, if you exit too early and receive less income than you might have. Keep in mind that you are never going to lose money, a profit no matter how much profit will be small.

As you can see, this strategy is very simple, but extremely effective.

Do not forget to combine the stochastic oscillator with the other indicators. Relative Strength Index and the group Bolingera work extremely well with the stochastic.

If you have an easy trading strategy, like sales, which we discussed, bids are fun, because if you do not emphasize the implementation of its strategy, you still get a big profit!


Forex trading and creating volatility profitable soil


As a trader in forex you enter the markets, which, as the main interest of becoming a profitable trader. That is, you want to know what you have earned money at the end of the trade route, when they finally close the trading station at the end of the day.

But how to make money in the Forex market? The answer lies in the instability of the market. This means that to the extent that the prices of currencies are constantly changing in the course of a trade route, you have to be attentive to how they behave, and if you notice a big change in these prices, then it's time to take a step, and enter a trade in the direction of the main trend. Then, before changing trend, you close your trade and make a profit on the difference between the purchase price and sales at the beginning of the transaction and at the end.

The principle sounds simple, just waiting for the big step, and then enter the trade, which, in your opinion, it is best to meet your expectations. But the truth is that it is not so simple. You must be very careful when dealing with the instability and should have a "good look" to see what the market does.

That is why many traders prefer to use what is called "trading robots". This piece of software, constantly monitoring the forex market can determine what time it is better to enter a trade that stop you should use when you need to close the trade. This does not mean that you will not be able to trade independently and determine a very good deal, but it takes time and a lot of experience. And with that in the process can also be lost money. Thus, the decision is up to you.


Bitcoin: everything has to be perfect?


If you spent $ 27 on bitcoin, when it was created by Satoshi Nakamoto in 2009, your investment today will be worth more than $ 37 million.

Widely regarded as the greatest vehicle of all time, bitcoin watched meteor growth during 2017, going from $ 777 to $ 17,000.

Creating millionaires from opportunistic investors and financial institutions, leaving open mouth Bitcoin responds to his critics at every stage of the year, and some believe that this is only the beginning.

December 10 launch of bitcoin f & # 39; yuchersav, which first will allow investors to enter the market through a major Bitcoin regulated exchanges in the US, means that we are just beginning.

What makes the Bitcoin so valuable that there is a limited number. Will remain a maximum of 21 million Bitcoins, and unlike conventional currency, you will not be able to print more of them if you want. This is because the Bitcoin protocol works on checking the work: to create it, you need to find it using the power of computer & # 39; computer processing to solve complex algorithms blokcheyne Bitcoin. Once this is achieved, you get a reward of bitcoins as payment for the work you work. Unfortunately, the reward you get for mining, sharply lower almost every year since the inception of the Bitcoin, which means that for most people the only viable way to Bitcoin – is to buy it on the market. At current price levels worth the risk?

Many believe that bitcoin – it's just a bubble. I was talking to an expert on cryptocurrency and long-term investors Duke Randall, who believes that the asset overstated: "I would compare it to a lot of bubbles of supply and demand in the history of, for example, the Dutch mania for tulips and dot bubble late 90s Prices & #. 39 are entirely based on speculation, and if you look at the functioning of Bitcoin as actual currency, it's almost embarrassing, "For those who do not know, bubble bubble -.. it is the period between 1997-2001, when many Internet companies. They were founded to give outrageous and tymistychnyya estimates based solely on speculation, which later filed for 80-90%, if the bubble began ruynutstsa in the early 2000s. Some companies, such as eBay and Amazon, have resumed and now sit much higher than these estimates, but for others it It was the end of the line.

Initially, bitcoin has been created in order to wrest power from our financial systems and to put people under the control of their own money, carving the middle man and enabling peers to make transactions. However, this is one of the slowest cryptocurrency on the market, the speed of its transactions are four times smaller than the fifth-largest cryptocurrency and its nearest competitor for payment solutions Litecoin. Impossible Coin particular Monero makes operation even faster, noting the average time of two minutes, the fifth of the time block Bitcoin can do it, and that without anonymity. The second largest in the world cryptocurrency, Ethereum, already has more of & # 39; transaction volume than the Bitcoin, despite the fact that it is estimated at only 676 dollars for the air compared to 16,726 dollars per bitcoin.

So why is the price so high Bitcoin? I asked the Duke Randalu the same question. "Everything goes to the same supply and demand economy, about the existence not so much bitkoynav, and the recent rise in prices has attracted a lot of media attention This is combined with the launch of bitcoin f & # 39;. Yuchersav, which many see as the first character Bytkoyn that adopted by the mass market, has led to a lot of people jump on the bandwagon for the sake of financial gain. Like any asset, if there is more demand to buy than to sell, the price increases. This is bad, because new investors enter the market, without realizing blokcheyn and the basic principles of these currencies, therefore, they are likely to burn. "

Another reason is that the Bitcoin with & # 39 is extremely variable, but is known to swing up and down thousands of dollars less than a minute, what if you are not used and do not expect it, makes less experienced investors panic sell that will lead to losses. This is another reason, if Bitcoin will fight for acceptance as a form of payment. The price of Bitcoin can significantly move between the time when providers adopt Bitcoin from customers and sell them on the stock exchange for their local currency. This chaotic movement can destroy all their profitability. Soon this instability will disappear? NOT likely: Bitcoin – a relatively new asset class, and while awareness is increasing, only a very small percentage of the world population has Bitcoins. Until it becomes more widespread and its liquidity improved significantly, volatility will continue.

Thus, if Bitcoin is quite useless as a de facto currency, which, in his application? Many believe that Bitcoin has moved from viable forms of payment and become a store of value. Bitcoin is like a "digital gold" and will simply be used as a benchmark for other cryptocurrency blokcheyn and projects that will be evaluated and a bargain. Recently, with the & # 39 there were stories of people in high inflation countries, such as Zimbabwe, who buy Bitcoin to keep their wealth, and not see the value of a negligence of the central banking system.

Do not engage in bitcoin late? If you believe that these cryptocurrency do for the world, it is never too late to take part, but the fact that Bitcoin value will be so high, this is the boat for some who already sailed. Perhaps you'd better look at Litecoin – to 6908% per year, or at the Ethereum – 7521% per year. The new, faster currency hope to achieve what bitcoin was first created, which was made in 2009, and replaced the fixed currency.

Who knows what the price of the currency will be ten, fifteen or even twenty years from now? One thing is certain, and we'd better engage ourselves, because it will be a wild ride.


How to use bases in the hedge


Price cash – price p & # 39; yuchersav = basis (at a time)

manufacturer's decision as to when and how to implement their crops and livestock, can have just as big an impact on their net rate of return, as well as any production decisions, they can take throughout the year. Today, farmers have more alternatives to marketing than in the past, and faced with a complex and fast-paced marketing system. They need to compare the traditional marketing methods of sale of cash at harvest (or until the harvest, the bushes on the guaranteed insurance) or when livestock is ready for the market, to transfer the contract or hedging with f & # 39; yuchersami or options. To do this, they need to thoroughly understand the relationship between different prices to be able to compare them equally over time, space and quality.

As mentioned above, the relationship between current and f & # 39; yuchersnymi prices is called "the base". The basics of marketing usually means the difference between the price of a particular market and the specific cash price f & # 39; yuchersnaga contract. Framework "localize" f & # 39; yuchersnuyu price in relation to the place, time and quality. Understanding the basics allows you to compare the market price quotes f & # 39; yuchersav cash quotes and prices commerce "forward contracts".

calculation base

The formula for the bases of calculation is as follows: the cost of cash – the price f & # 39; yuchersav = base at a time. From a negative basis, it follows that f & # 39; yuchersnaya price exceeds the price of cash, and a positive basis means that the f & # 39; yuchersnaya price is lower due to the cash.

In this formula, "current price" is designed for a specific location, time and product quality. Position may be a particular elevator, ethanol plant, package, etc., or may be an average cost for the total area. Time can be a particular day, or perhaps the average for the week. Quality can be, what grade or corn you have, or the weight of your cattle. "F & # 39; yuchersnaya price" in the formula – is a contract which simultaneously represents both the existing price. product quality in the price f & # 39; yuchersnaga standardized contract.

The basis is most often calculated as the difference between the cash value and the closest to the term of the (next) f & # 39; yuchersnym contract. For example, in June, corn basis is calculated using the current price of cash, minus the cost of the contract for the July F & # 39; yuchersy. The basis of the grain can also be calculated using the value of cash and more distant f & # 39; yuchersny deal to learn, the market offers a refund of the deposit ( "NEST").

Livestock is different in that you will consider only the adjacent substrate (not deferred) for the purpose of hedging and sale of cash because, unlike grain, livestock perishable and can not be stored for a long time, as the grain is.

In the next game, we will discuss ways of "bases of forecasting," as well as ways to start properly monitor and record baseline data in your region.


Want to know more about Forex quotes?


If you want to make money in Forex, it is important that you understand the information provided in the Forex quotes.

Forex quotes differ in format from the more conventional stock quotes, and they can be a bit difficult to understand, when you first start trading in the currency markets. Thus, a first step in your car shopping & # 39; EASURES Forex – learn to read quotes provided by the exchange. Quote divided into different parts, and it is important to understand each part and the information it provides.

The first part of the quotes in the Forex market – this is what "across" defines the two currencies, which considered this quotation. For example, if the quote shows the USD / GBP, this means that the quote shows the relationship between the US dollar and the British pound.

The next part of the price in the Forex market gives you the actual price of this currency pair, for example, if the quote USD / GBP is 0.50236, which means that for every dollar you get 0.50236 British pounds. While that is good, the following information is perhaps the most important. They show the price of the offer and demand, sometimes called the bid and ask price.

This is exactly the same information that is usually indicated in the share prices, if they are listed on the stock market, the price rate – is the price at which the currency is sold, or if you wish to sell the US dollar against the British pound and the price rate of 0.50243 is the price in pounds, that other dealers are willing to pay for your dollar. Value proposition at a price – the price at which other dealers are willing to sell you the currency, so if the price is quoted 0.50256, the price in British pounds, you have to pay for each dollar. The difference between the bid and ask price is known as the spread. This Commission, which take currency dealers to cover their costs in providing you with their services.

With most of the major brokerage currency exchanges can be traded in more than 60 different currencies, but the vast majority of trading is done by what is called basic, consisting of the US dollar, British pound, euro, Japanese yen, Swiss franc and Canadian dollar. Most speculators tend to specialize only in one or two other couples, for example, I'll only trade USD / GBP.

When you first begin to trade in the Forex market prices, this may seem a little intimidating, but just take your time and you will quickly develop a trust and be able to read them without problems.


Hue prices on Forex


Rate-offer spread

Prices of foreign exchange currency pairs are given in the form of the spread on offer, the offer – the sale price and the offer – purchase price. So, if the quote EUR / USD at 1.4256 / 1.4258, the trader who wants to go long (buy), will buy the currency pair at 1.4258 and the trader who wants to go for a short time (to sell), to sell a currency pair at the level of 1.4256.

The difference between the two charges in this case is 2 drops or 0.0002 (Pip typically estimated as 0.0001).

Generally, the more liquid currency pair exchange, the lower the rates / demand gap. Liquidity pair is determined by how many transactions occur on it, so it is usually usually pairs that are traded, have the lowest spread and offer suggestions.

As providers of currency exchange make their money

Currency – this is a market where traders can trade without commissions. This means that suppliers of currency exchanges bring their profit on the difference between the prices of bids and proposal.

In the case of the pair EUR / USD, which is quoted at 1.4256 / 1.4258, the trader, who had long waits to buy the pair at 1.4258. Couple in the market, which is now worth 1.4256, should lead to 3 points, the trader a profit of one pip – up to 1.4257, the second – to 1.4258 (break-even point) and the third – to 1.4259. Stir in two points at which the trader breaks – this is where the supplier receives its currency exchange gains.

What is shading the price?

currency exchange providers are typically added to the price point that they are granted the banks to increase their margins. prices Hue – is when a supplier exchange points, suggesting that a particular currency is moving in a certain direction, add a point of view on one side of the quote currency. Thus, if the provider exchange points suggests that the pair EUR / USD will rise in price, it can offer a pair at 1.4256 / 1.4260 and not 1.4256 / 1.4258, this means that a trader who is a long time, will have to buy a pair at 1.44260 .

Accordingly, the currency pair should bring 5 points for a trader to make a profit, and the movement in the four points at which the trader even made it would be profitable currency provider.

As a rule, if the buyers more than sellers of the currency pair, the supplier obscure side of buying, adding points to the value proposition. Similarly, if the sellers more than buyers of the currency pair, the supplier obscure the sale side, adding a point to the value of rates.

Why it works

If in each currency pair was 500 consumers and 500 merchants, a provider of foreign exchange added one point on each side of interbank quotations, the provider would make one point for each transaction (or 1000 points).

If there were 300 buyers and 700 sellers, the supplier would add 2 points to the value of the application and not to renew the bid price.

So interbank rate for the EUR / USD pair is 1.4255 / 1.4256, and the broker katsirue it at 1.4253 / 1.4256, ie, sellers are selling at 1.4253 and buyers – at 1.4256. Since the number of sellers in the market exceeds the number of buyers, the currency pair falls in price. Couple wants to fall by 2 points to retailers fell (from 1.4255 to 1.4253), and provider of currency brings these two points of profit. It is 1400 points of profit for 1000 merchants.

The easiest way to use it to your advantage

To find out if your ISP uses a forex price tint, you have to compare quotes from Reuters or expenses Bloomberg prices or create an account to two service providers, one of which will broker direct treatment, which charges a fee instead. profit from trades / offers.

If supplier costs constantly deviate from the one hand, this means that most orders from retail patrons come from this side. Since most retail investors are usually wrong, you can trade on the other hand, if the bias is on the side of the shop, you can sell, and if the bias on the side of the sale, you can purchase.

In addition, since the shortcomings of most spread form profits (remember that forex your couple want to cross the spread ask / buy to overcome before you can make a profit), you get the benefits without losing a shaded dots, essentially introducing its position on better price than most investors.

When choosing a Forex broker

Any broker that does not charge a fee for the forex market, get their profit spread "buy"; and the trader's responsibility is to compare the different currencies of suppliers, so that they ruined their commission structure and how they are paid.

The trader must choose a reputable supplier, based on the power company, the history of their life, any awards that they have won and they are regulated or regulatory authorities in your country. Good Forex provider offers this information freely, as well as transparent information about their distribution, available on their website or by phone.

Since forex spreads can vary due to the level of liquidity in the market, a good forex broker must give clients tighter spreads in the underlying market as well as the maximum limit.


4 things about bitcoin, with which you must be careful


Almost all are now aware of, and trade bitcoin bitcoins. While most people have had success with currency trading, there are others who are experiencing problems. If you are going to enter the market, here are some things that you should be wary of:

Bitcoin Wallet

To use the coins, you need a digital wallet. This may be an application, hardware or a cloud. Some companies Bitcoin help novices automatically creating for them purses. You can keep the purses on the Internet or offline. For safety reasons, keep your Internet and make sure that the password protecting it. Avoid online wallet, because it can be easy to crack. If you must use your device, keep it in a limited amount of money.

Where do you buy a currency

If you do not want to pass on their own production of coins, you can always buy them on the market. When shopping, be careful of people advertising will give you a commission. Also, be careful to the site from which you make a purchase. Since you are dealing with money, avoid buying from a site that is not protected. This requires the purchase only from sites with https, rather than HTTP. In this way you will be sure that the web traffic is secured and encrypted.

technical details

If you are a coin production, you do not have to worry about technical details. If your main intention is to buy coins, you do not have to spend a lot of time on the production process of care, unit size, and other intricate aspects of the process. To buy the currency, find a reputable company and order it.

currency change

As well as other foreign exchange markets, Bitcoin market thrives on shifts in the price of coins. You should note that the market is similar to the purchase and sale market share – its long-term perspective. Because of this, you should not worry too much about the price change if you do not plan to sell their coins on the same day. Bitcoin cost increases every year; Thus, you should not panic if you see a massive change in a single day prices.

Although this is true, it does not mean that you should not be aware of the market price. Regularly visit the forums and appropriate places to find the current prices for coins. Who knows, you may be advantageous to sell it at current prices?