The trader- Characteristic
Crypto-trading is time-consuming - on average, you probably spend about 16 hours a day selling and buying your crypto coins, checking your mobile phone, and following online courses. All too often you can be recognized by the dark rings under your eyes.
Considering how volatile the crypto market is, this type of investor must spend most of his time constantly tracking the price movements of his crypto coins. Short-term traders pride themselves on making big profits in a short period of time, which tempts many newcomers to this type of practice. Remember, however, that just as quickly as you can make a profit, you can lose it.
As has often been experienced, the price of an asset can fall rapidly in the crypto-markets in almost seconds, often when you least expect it, causing short term traders to drown in red.
Especially the short term trader needs to be well aware of his risk and understand which strategy you want to use to be successful. One thing in advance: You can never rely on supposed "future predictors" in the investment sector.
STRENGTHS & WEAKNESSES
STRENGHTS
Can take away short-term profits
Trusting in self-intuition
Enables fast action and market reaction
WEAKNESSES
possibly Fomo (Fear of missing out)
Sleepless nights due to price fluctuations & uncertainties
High time expenditure due to market observation/research
TIPS, TRICKS AND RESOURCES
TIPS & TRICKS
Be well informed about markets
Be prepared to take losses too
Set clear rules with discipline and structured flexibility
Reflect regularly why a trade has been successful. Was your research good or did you "only" have a lucky strike
Set precise goals and control your emotions
FURTHER RESOURCES
Get extensive knowledge on YouTube Channels
Listen to all news whats going on: The Cryptoshow
Understand how Blockchain can revolutionize your company - the blockchain book
Get your crypto with $ at Coinbase
Cryptotrading and get Alt Coins at Binance
Store your coins safely.
