Post
Topic
Board Trading Discussion
Re: Which sort of investor are you?
by
AakZaki
on 14/02/2024, 20:18:29 UTC
I am a short-term trader. I make multiple trades within a short span of time. When I book a profit, I move on to another coin for entry. Most of the time, I follow indicators on a 30-minute timeframe to determine the right time to buy a coin. I enter a trade and close it after securing a 3-5% profit. If it seems like there's potential for further profit, I close the trade and aim for more profit.
Following a 30 minute timeframe is not too long for short term trading. I usually only look at 15M-5M for short term or scalping because trades are made faster and more orders are placed.
Timeframes of 30M and above are usually for Medium and long term trading. Determining a profit of 3%-5% is quite standard and don't forget to use a stop loss to stop unwanted losses because it is important. and having reserve funds will be very helpful in an emergency.