Post
Topic
Board Trading Discussion
Re: How to approach a trading competition??
by
fikrett
on 14/11/2024, 08:39:01 UTC
And when you learn to acquire the knowledge of the movement in the market, it will help you to succeed among the competitors in the market because you have the experience of the market which it will lead you to the season to trade your coins to make a good profit other people are making from trading. It depend the price you bought your coins in the market, because if you buy your coins in a high price and you sell the coins in the bull run, it will not help you to make plenty profits like those that bought their coins in the bear run and sell in the bull run.

You can still buy a coin during the time of the bull market and make a better profits than those that bought during the bear market. Some people buy a coin during the bear market thinking that they have bought in the cheapest price but after buying, the coin can still drop more and it continues to fall until it gets a lucky break during the bull market and that was when another investors or trader buys the coins. The market is full of surprises and you can surprised at anytime. Trading competition are good because they can make you to improve from the way you use to trade before, some traders are afraid of taking more risk as they are always too careful of how much they want to use to trade and this makes them to not get plenty profits but just average.

You are totally right -if you want to buy a coin for the future, you buy it at any price, having confidence that it will spike anyway, such as the case with BTC.
You either DCA your way out or buy in lumps, of course, with other coins, this is a more risky venture, however - it's better to have many coins in your portfolio with different potentials and metrics attached to them.