I have good knowledge with crypto future
I get signals from groups on telegram
But i got idea to make profit daily
I choose some coins potential raise and open long positions on them and hold
For day until i get profit.. Is this good idea or let me know if there better idea
What I have learned in the crypto space and from my years of trading and investment experience is, do what that works for you, in as much as you are getting the desired result hold such strategy tight, The industry is a game of strategy, Meaning, who got the best strategy, that is a strategy with a positive results happens to win the most, Therefore you should depend on someone's else's strategy to survive, The game is get ideas from experience traders and use it to develop a strategy that works for you ,because what works for Mr.A might not work for Mr.B.
I completely agree with the comment upon strategy. Well, this is true where the strategy of others might not work for you. As you(OP) said, you get signals from Telegram but you have no idea how to make a profit daily. Here, understand the fact that the signals are provided using some strategy, so if you are not able to use the signal calls, then even if you follow the strategy of another individual, you might remain on the same page.
I would suggest you to do the following:
- Unlearn
- Forget about making money at the beginning
- Start learning and gaining knowledge from some mentor or good source
- In the market, both Bulls and Bears are present. Understand the psychology of both.
- Now, build your own strategy
- Backtest your strategy & I hope you will be good to go
- And don't stop Learning
Why I asked you to build your strategy of your own because every human is unique, so their psychology will also be unique and as I said both Bulls and Bears are present.
So, when you follow anyone else's strategy and imagine either of them(Bull/Bear) who is also a whale in the market understands that a hoard is following the strategy, they will swipe away the money from you all, who were following just one approach/strategy. Just think logically.
I hope this will be helpful for your clarity. Good luck.