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RE: Trading on Bittrex Confuses the Hell Out of Me | Help Me Wrap My Head Around Profits and Losses
I guess that's part of my question, is it cool just to totally disregard USD price and only look at it in terms of BTC price?
Also, once I'm in a position, should I care at all about what BTC price is doing in relation to USD?
In many cases, yes, you can ignore USD. You will want to follow for a while to get used to looking at the charts this way.
So altcoins lag behind when Bitcoin's value increases, therefore the BTC price of an alt will go down. However, when Bitcoins price goes down, the alts go down with it. So you cant be emotionally attached to your altcoins. You want to have stop loses to sell when bitcoin causes them to bleed. Once Bitcoins consolidates, the alts will start to correct in price accordingly. It's kind of the wild west in cryptoland. :)