Which trading strategy would be a good start for new traders?
Which trading strategy would be a good start for new traders?
I’m in beginner stage at trading . Recently I loose about 80$ . It is a huge amount for me . But I wanna try again
Now I need some advice for me . I also have some questions about trading.
1.My 1st question is about which trading strategy is good for a new traders ? I mean short term or long term.
2. In short-term trading, when to buy and when to sell ?
3. In short-term trading, do I need to sell the coin on the day ?
I hope these questions answer and advise could help me to know some good things about trading and helping to choose the right trading strategy at this stage and others like me.
Short-term, you can get profit from trading
Long-term, you mostly end with loses from trading
If it is long-term, it is easier, more comfortable and more profitable if you do with investment. Investment is different than gambling. I meant if you intend to do long term investment, you must start with your in-depth research about projects. Then if you conclude it is good and believe in it, you can allocate your capital into it as one of your long term investment.
To be safe, just in case all things go wrong and worse than any of your expectation, don’t all in!
Let’s allocate a big budget for your daily expenses in about 1 or 2 years which is enough time for bear market to finish.
Imagine, you allocate all money you have at $10000, then in bear market, it is divided 10 times to $1000 and if you don’t have other budget to pay daily expenses, you will have to sell part of it to use. Assume you sell $100 for such purpose, it equals to $1000 in your initial capital. That is painful!