Guys, I am rather new to trading. Initially when I did get into crypto currencies my idea was to select a few coins and HODL until their value appreciated and maybe cash out some tokens whenever i am in need of money. Little did I know I was in for a big surprise few months into crypto currencies the market was so volatile.
However from what I noticed was if a trader, learnt to sell off in the high and then when the market inevitably pulls back we could secure ourselves a much higher position in the same tokens or different but for this to be done we need to be pretty good in our TA i guess and I am now very determined to explore this side. Can anyone please advise me how I should get started, some recommendations of what to read, what to watch and also the risk associated with what I plan to do.
Thanks so much.
Choosing the right strategy is the basis for Bitcoin trading, because the price of Bitcoin can change every day, this daily trading aims to find a quick profit from the movement of Bitcoin prices in the short term, so you should pay attention to support, resistance and moving averages to make sales or purchase.
It is definitely not an easy task to tackle or trade with an asset which is known as the most volatile currency of the world. To be very honest, bitcoin can only be understood properly if a person spends almost half a year and learn all the price changes. It is vital for trading successfully in this asset. Without patience, persistency and hard work, bitcoin trading is harsh.