Day trade is when you get to understand the general idea of trading and its likelyhood of pumping and dumping. Both short term and long term holding are financially efficient for me.
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I am trying to stay away from this style of trading even though it is hard to do so and sometimed I have 50 percent of my investments accumulated just in one coin.
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For all the time that I have been dealing with the crypto market I learned many useful things about is like when is the best time to sell my coins or what price figure it has to hit for bringing me good profit so I feel pretty comfortable with it.
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I do believe that in the future we will have the bitcoin legalized in much more countries than now and the government will realize that the bitcoin can be profitable for the economy so I hope for promising future.
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Most of the time the loss of capital happens due to the trader's common mistakes which are the panic selling, using the whole capital just for one trade and not planning the trades at all, just having random purcahses and sales.
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If you are one of those people who are very impatient about seeing the results of your investments, then you should go for a day trading and if you prefer not to monitor.
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To be a good investor or trader you really have to be a calm person who can handle hogh stress level and cope with the emotions because when it comes to the cryptocurrency panic and freaking out is absolutely not aloowed. You have to stay focused on your coins and profit.
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First things first and you are the one in charge of your success in cryptocurrency maket so you need to stay patient, learn more, and analyze the market to start getting some good profit without loss.
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I can surely say, that holding will be a good infestation for many bitcoin holders, though with the small scale holders the price profiting is found high with day trading, because of the price difference which is happening in large scale in such a short period of time.
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My startegy is pretty simple and it includes holding one but very powerful cryptocurrency which is definetly the bitcoin for me because I feel secure enough investing into that and believe in its ability to get higher in the value.
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There is no doubt that a day trader of altcoins or bitcoins has to have some back up capital too in case of a significant decline of the value so that he woild be able touse hw recovery money on the next day.
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It is not that complicated and time consuming to go through the training with the help of youtube vidoes or even training platforms before starting to actually work with cryptocurrencies and take risks right away.
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The amount of dedication and time that I put in trading and the bitcoin itself definetly pays off because I see myself growing financially and I hope everyone else does when joining the market.
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With trading every day you can have a chance to start a new game, when holding means that it‘s the moments of ‘sell now or never‘ which makes it very stressful.
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When it comes to trading I definetly go all in because I feel that this why the potential profit is getting to the maximum. But to do so you need to get familiar witht basic patterns.
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First of all, the first step to the world wide use of cryptocurrency had been made because some companies use the blockchain. And I think we need about 5-8 years for the bitcoin to be legally accepted everywhere as the payment option.
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I do not think it is good time for us to be all in when trading because the bitcoin's value has been very volatile which is why it makes sense to hold for some time.
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Only the investor himself can decide how to use funds, for example, if you’re satisfied with small profit then you can choose day-to-day trading strategy.
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The central banks still have advantages by providing cash since that what we mostly use as an official and most frequetly used payment currency in our country.
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I feel like the strategy menioned above will bring you good money even though if you find yourself in some waiting positon and sure whether it is worth it I still recommend hollding until the increase happens.
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