Assalamu Alaikum
How are you? By Allah's grace, I'm doing very well. You have dollars, you have now selected a coin to buy, the next problem you will face is how much price you will buy a coin at or when you will buy the coin. For this, you will go directly to the trading chart.
You basically have to do three things, the first of which is that after entering the trading chart, you can search for any coin by going to the search option above. For example, I opened the trading chart of NEAR coin by going to the search option from here and searching for NEAR coin.
Then the second thing is, here you will see below the coin name that shows the time. If you click here, you will see, here you will get time frames starting from 1 second, 1 minute, 5 minutes, etc. But you do not need to use such small time frames. Because small time frames are used by those who come out with profits in a very short time. And to make profits by short term trading, you need a lot of knowledge about the market. But since you are new to the market, you should not forget about short term trading. Because you will not be able to catch the movement of the market because many times it is seen that if you move into the long time frame of a coin, you will see that the price of that coin is currently up, but if you move into the short time frame of the same coin, you will see that the price of that coin is going down. In that case, the mistake you will make is that you will open a short position there, but in the long time frame, the market is going up, in that case, you will have a loss. For this reason, you should always select a larger time frame like one hour, two hours or four hours from the time frame option. By doing this, I am confident that your chances of losing will be much less. Since we have selected one hour time frame here, our coin's trading chart is ready and we have selected the time frame, now we have to move on to the third step. Then the third thing we have to do is to find our target. The most common concept to understand this is that if you understand these two things very well, then you can easily understand where to buy and where to sell. Because most of the time from the support level, the price of a coin goes up and most of the time from the resistance level, the coin goes down. But that support and resistance level must be strong. You will not be able to survive in the market for long using these three steps because they will never give you live signals with the market, you can only get ideas from this but if you rely on this 100% then you will not get completely accurate data. You will only use these in the first situation so that you can avoid big losses. Along with these, you need to understand the market and take advice from experienced people.
Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.
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Upvoted! Thank you for supporting witness @jswit.
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How beginners should select crypto coins is a great content you have shared.
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Thank you so much.
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