Some trading tips that will help you get rich( I hope)

in cryptocurrency •  8 years ago 

Trading altcoins can make you rich

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Cryptocurrency trading is very much similar to stock trading. The only difference is that the crypto market is much volatile.
I'm gonna be giving you some tips that applies to both.

  1. Know when to invest
    This takes time and a lot of research like what drives the price down or up. Therefore you should know when to invest.
  2. Know when to get out
    This one is very similar to the above one. You should sell out before the price goes down unless you are sure that the price will be higher later.
  3. Don't invest more than what you can afford to lose
    It has been said a lot of time and I say it again. Don't invest all your money that you have all at once. Invest only what you can afford.
  4. Have patience
    Wait for the price to reach the right amount or you would regret you sold it for a lower price for eternity.
  5. Learn from a pro
    Learn from someone who have already made a profit.
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    Well that's all. Happy trading.
    Steem on!!
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nice post

Thank you.

I'm just not a true speculative investor so day trading has not been something that interests me. I normally buy and hold with the intent to sell down the line. But there are many out there who have done well day trading so I'm not saying you can't make money but I just think it's not everyone's cup of tea.

Yup. There are a lot of people who made hard cash by trading but there are a lot more who lost their money.

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Whoa man! Thanks a ton!

No problem :)

Nice