Hey guys, what kind of trading strategy do you use? and Why? What's the effectivity rate?
I usually do day-trading which focuses on accumulating small accruements of profit but with high-volume. I utilize my relatively small capital to acquire small gains but with consistency on results. I would rather lose a series of trades than on one big trade due. I prefer the market being highly volatile as it makes my trades skyrocket depending on the timing.
When I'm starting, I spend 4-5 hours a day watching the charts because I tried to get a profit in just minutes but I see it very stressful so I stop it after a few weeks. Now I'm doing the buy and hold where I will just hold a coin until my target selling price has reached. This will give me lesser profit but it has lesser risk too. I'm not an expert trader so I'd prefer holding while doing short trades.
By holding your coins you would be able enough to reach out at your desired market price where you want to sell it and get the profit. But all this will happen only if you an active trader who checks the price movement hourly and stick to the market. By watching and analyze the charts or price movement will help you out to make decisions which will be in your benefit only if you are good at dealing with it.
Holding is also another type of strategy but mainly focuses on the long-term aspect. Many people prefer this kind of strategy but the accumulation of profit is relatively slow especially when you focus on gaining. There is lots of opportunities wasted on this kind of strategy. That is why I usually do 2-3 types of investment strategies and HODL is part of it.