Hello community, in the financial world there is something that is much talked about as a great business, and the truth is that having a good strategy and a good capital can become a good source of income, I am talking about TRADING. Now, there are those who have heard of this, and think "basically it is about buying cheap and selling more expensive", and this is also a truth, essentially it is about that.
But, there are many nuances in this profession, if I say profession because in my opinion it is, you must dedicate time to train yourself, study the market, acquire experience in analysis (technical, Chartist or fundamental), establish a strategy, risk control, in fi, many things that require time and dedication to be able to be consistent in earnings.
But there are other details that I would like to mention about trading, for this reason, I am going to make a series of publications making some approaches that come from my experience in this area, let's start now talking about timeframes.
One of the important aspects to consider when trading and doing analysis is timing, that is, if you are going to watch the market in time blocks of 15 minutes, 1 hour, 4 hours, 1 day, a week, a month, among the different options you have.
Your selection in relation to the temporality is closely related to the type of trading you do (topic that I will develop in my next post), that is, if you do trading in the very short term, medium or long term, because if you evaluate the behavior of the market in an hour, it is related to your vision of the precise moment to enter or exit a short-term operation, it can be in the course of a day, or even half a day.
But if you make trading entries that last for days until you determine that you should exit the operation, it will be more convenient to analyze the market in 4 hours or one day, or both.
For this reason, knowing yourself, knowing your level of tolerance to market movements, and waiting for the moment you have determined the specific percentage (profit or loss) to close the trade, will largely be related to your personality and this leads to the type of trading you feel confident with, as well as the timing you will use for your analysis and to keep track of the trades.
*In my next post I will talk about the types of traders, because even though in essence it is all about * buying and selling, *the space of time that elapses between a buy and a sell operation is determined by your personality, and defines a type of trading.
Thank you very much for reading my post.
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I have read that trading has a lot of psychology, but I didn't know that even by the time you spend to trade, you can determine what type of personality you have in this profession/hobby.
I will keep an eye out for your next post as although I don't do this as a professional, I do trade from time to time.
Thanks for this input.
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hello @josevas217,
this is one of the professions that is starting, I say profession because many people today are generating money thanks to this activity of buying and selling cryptocurrencies, also as in any other profession you must prepare yourself a lot to perform the activity and make it profitable, personally I think I feel more identified with seeing the operations by performance and not by day.
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Trading isn a way to make money faster but it's also risky and surely required a thorough study. I agree with the points you shared in the post but would like to add that we should never bring emotions in between while trading.
Nice post
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Greetings my friend @josevas217. Certainly the chosen temporality is fundamental when trading and basically is defined by the personality of the person, personally I prefer long term investments, but others prefer adenaline haha, and base their strategy on short term operations.
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Hello dear friend @josevas217, very good your publication, the temporalities are related as you mention to the temperament of the person, who establishes his strategy based on his personality, personally although I am not an expert in trading I like to see the behavior of the market in the medium or long term, which allows me to be more calm and not be affected emotionally by a short trading.
See you later brother, have a great week.
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Greetings @ josevas217
I fully share your opinion on the temporality when making any move in asset purchase. No doubt it is always good to be able to compare some movements of specialists to see if the logic and knowledge acquired are on the right track, although this itself determines your profits or losses.
Thank you very much for sharing such an interesting publication
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This is something interesting I have read and heard. Trading has a lot of topic inside like we cannot never predict what will happen next. The main idea is to buy at low and sell at high this will helps in you getting more profit. It involves risk also but profit also.
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This season is a HUGE deal for crypto market!
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