According to the dictionary trading is the activity of buying and selling or exchanging goods and services between people or countries.
Trading is a very serious business as much as you can gain you could also make losses. For beginners and newbies trading in cryptocurrency might pose as a big hurdle. There are some little precautions that can help you have a healthy trading
* it's advisable to diversify your investment. The cryptocurrency market is very volatile when for example coin A is having a pump coin B can be having a dump let's say you invest all you had on only coin B you will be headed for loss and regret. Spreading your investment amongst project is quite advisable not only in the cryptocurrency world but in so many other sectors. The future can be uncertain and unpredictable but when you have investment on more than one project you tend to increase your safety
*Investigating on the project you want to invest in.
Whether it's bitcoin, ethereum or any initial coin offering you want to invest in its always best to do an investigation on it. There some easy step to do that
Step 1. Read the white paper
Step 2. Check your future profit outcome
Step 3. Study the team behind the project
Step 4. Notable investors that are already in the project(note this can be deceiving because some are under sponsored shilling)
* avoid the self killers FUD and FOMO.
fear uncertainty and despair and fear of missing out has cost so many investors to head to an early investment grave. Panicking in trading is like shooting yourself on the leg. You have to have a strong believe although you do your research and observation and listen to latest update you still have to be in control of your trading.
Know your leverage.
In investment your leverage is quite important it can increase your loss if done wrongly and increase your gains if done the right way. So having a good knowledge of your leverage is quite important.
Have a blessed trading
Thanks for sharing your inputs. I agree we should do our own research before investing into something. I think this topic is much suited on trading discussion >>
https://bitcointalk.org/index.php?board=8.0how to move a topic? go to the lower left of your thread and you will see
move topic.