RE: Crypto Wisdom - Why You Should NOT DayTrade

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Crypto Wisdom - Why You Should NOT DayTrade

in dmania •  7 years ago 

I prefer to swing trade. I don't have the risk tolerance level to day trade. The current down trend is actually good as I'm using the opportunity to sharpen my skills and discipline. I entered crypto last year in November when the market was high with euphoria and greed. Luckily I stumbled across a few resources online while researching trading crypto that recommended to avoid buying during such a phase. That advice is now paying off. Beginners luck I guess :)

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Oh yeah! Buy low, sell high is Rule #1 for any type of trading on any market. Even if you sell physical products it's better to buy something on Black Friday and sell it a month later.
I'd rather invest in crypto and just HODL. I started mining Bitcoin back in 2014 and I gave up thinking to myself that it has no future. I'm not making a similar mistake again =D