Post
Topic
Board Trading Discussion
Re: Newbie should trade or not? Please give me idea.
by
Abhijeet Tripathi
on 29/03/2020, 11:41:29 UTC
Trading isn't for everyone. Almost 95% of all day traders eventually fail. But you can keep going if you have strong heart.
        You can hodl (This is a misspelling of the word ‘hold’, as someone once made a typo and it has since stuck around as a crypto-community trend) a cryptocurrency for short term also known as day trading . In this process trader hold an asset for just a few seconds, to a couple of hours and sell it before the end of the day, hoping to make a small, but quick profit.
       Holding on to a cryptocurrency for longer, this is called long-term trading.
       If you want to trade you need an exchange where you can buy cryptocurrencies at low prices and sell it at higher prices to gain profit. Two methods help you in better trading are-

    1. Speculation- It is when a trader believes a price will go up or down because of a positive news.

   2.   Chart analysis - Exchanges and many other sites provides charts where traders study the price movement of a particular cryptocurrency and try to guess which way it will go, based on historical price movements.
         
          Tips- Be ready to accept losses
                    Never chase your losses
                    Never invest more than you can afford to lose
                    Practice will make you perfect
 All above suggestions are my personal experience so understand all of the risks involved.