I thought that make more sense to learn trading so that, if I get good at it, I could avoid the losses one has to take when HODLing due to fluctuations, but after 3 months of exploring strategies, learning technical analysis, trying different coins/tokens, different time frames, different indicators, I got to the conclusion that it is a bit useful to know technical analysis to be more aware of the trends and helps a little to know when is a good time to buy, but difficult to know when is a good time to sell or difficult to know if, against all the odds, the price drops a lot and you lose a good amount of money. Also, you could miss good momentum if you keep your value in USD, USDT or Euros.
Conclusion: There is a reason why most traders lose money and why intelligent investors HODL instead of trading. Also, a lot of videos, blogs and material about trading, makes you think it is really possible and not so difficult, when in reality it is very difficult to know what the price is going to do. Those who say the contrary are normally employees or business owners of investment firms or sell trading courses, so obviously they will want to make you think that it is easy and that you can earn a lot of money trading.
I recommend you forget trading and:
(1) Do fundamental analysis of good coins/tokens. (2) Buy those that look legitimate and has good prospects. (3) HODL, live your life and do not worry if prices go down for several days because, most coins and tokens, when you see the 1 or 3 months chart, you see decent growth rarely seen in the stock market and difficult to see in other investment instruments except crypto.
[link] [comments]
from Cryptocurrency news and discussions. http://ift.tt/2GphlMt
No comments: