After trading cryptocurrency for just over 5 years I thought I would put together 5 quich tips I have learnt over the years.
Dont overtrade - Many people try and trade the markets too much. Crypto coins in the long run have a general uptrend. Study a solid coin believe in it buy and hold for a few months. Its hard to find every up and down swing in the market and doing so will lose more than it gains in the long run.
Study each coin you are wishing to trade dont believe the hype do your own research and believe in your desicion.
This links into the last tip. Plan what your goals are there is no point in buying a coin just because its shooting to the moon. Yove missed the boat. Read threads, white papers and reddit posts to get an idea of upcoming coins. You only need a couple of good trades per year to make a decent amount of money.
Always look at your trades as a percentage increase never the doller value. E.g a 20% increase a fantastic gain and its much better than saying I must make X amount of dollers here.
Never buy a coin which is at the top of its trading range. You will lose money if a coin is shooting to the moon hold fire and wait until the market settles. If you have done your research the market will settle retrace and over good oppertunities to buy.
I hope you enjoyed my 5 quick tips. Please click follow I will be adding post with more indepth ideas and top coin picks soon.