Before now, I have always been getting it wrong about cryptocurrency. A friend recently opened my eyes to see how I could have increase little coins I have to fortune overtime by day-trading. But I am no that type. I had always thought I could only make fortune in crypto by hodling a certain coin for long.
13 months ago, I bought SNTR worth about $100 hoping that in few months I'll wallow in milliions of dollars like Ian Balina , but the reverse is often the case in the subsequent ones I bought. Sad fact, $100 worth of SNTR 13 months ago now less than $2.
Recently, I watched several videos of how to analyse a coin or token to invest in, gained some good knowledge of the basics. I discovered day-trading tokens like DX token and AWC could have actually make me what I hope to be If i had the right information. But its never too late. Yet, I am drowned in mentality that hodling for long can only be the fortune I hope for. Reason I need help.
Day trading is not as simple or easy as we think at times however, it pays off most of the time. But the idea of holding a coin for so long a time, I cant advice that. It's always safe to monitor the market trends and the attribute of not being greedy has to be put into action here. When the prices are low, it's safe to buy. And when the prices are increasing again, just monitor it for a while and sell the moment you realise the prices are stable. If the prices are dropping so fast, it's better to sell quickly because it might take a long while before prices rise again