Hi,
I have no experience short selling but I debate shorting now. Good idea? Anyone with experience? BTC seems overbought...
Good idea,but its really not advisable to do if you have no experience before since the prices can keep dumping or bumping without any signal even so you have to be ready for losing your money to make more or lost of money.
It`s good idea, only thing you need to have is perfect timing to get out and get in again when price drops. It works sometimes, sometimes not, what is important is to have some back up, in case price moves in other direction. Trading is all about timing, perfect trade is when you buy or sell in the right time (perfect buy is before price rise, perfect sell is just before price drop). It`s all about risking too, you don`t catch that right time all the time, you make mistakes that costs, that`s learning, think of it like paying for knowledge.
With less experience on trading i don't think OP would make it even just to get in and if he gets in his problem now is how to get out. Talking about of a perfect timing which is not really helpful because no one can execute a perfect timing, there is no such thing as perfect in this world.
OP might lose a lot of money trying to fit in with less experience, it might be better if he would just slowly give it a shot and not just shoot them all the way.