It's Time To Get Back To Trading
Busy With Investment Ideas
I have not been that active in terms of actual trading for some time now. I had chosen to focus on building passive income mechanisms, research, and creating content. However, looking back on many of my predictions and trade ideas over the past few months has encouraged me to look at day trading again. I generally trade with very low leverage that usually does not exceed 5X, as I am well aware of how quickly this market can turn. I have pretty much set up what I wanted to in terms of passive mechanisms and so am quite eager to get back into it. I have done a few trades in the interim but I have for the most part been buying as a hodler and not a trader. A lot of people that are new to financial markets don’t factor this dynamic into their decisions. They also tend to not process what they hear or read through this basic understanding.
This Always Needs To Be Considered
Buying as a hodler is very different from buying as a trader and yet many interpret all trades from a single perspective. For instance, a “trader mindset” will interpret someone buying just prior to a dip as missing it. However, a long-term buyer recognizes the value and will most likely buy again in the following week or month. This would enable them to purchase more at a further discount. You really need to understand and correctly assess the objective of the individual in question. Sometimes a short-term trade doesn’t necessarily go as planned and in my case, I simply extend my time horizon.
Trading Requires Constant Analysis
Whether it’s an intra-day trade, a day trade, or a swing trade, up-to-date analysis is essential. This becomes even more important in the world of Crypto due to increased volatility. I guess in recent times pretty much “everything” is volatile. As I mentioned in a recent post, Murphy will always arrive on the day you skip your daily habits. You have to remain constant, even during the boring and uneventful periods.
A New Chapter
I am really looking forward to trading again! Trading with modest leverage can be extremely powerful in the Crypto market. However, if you are new to trading and ignorant of technical and other forms of analysis it is best to spend your time learning alongside a practice demo account. This will help a lot and allow you the experience of being liquidated without losing a cent. Unfortunately, you will also not make anything but it’s an essential part of the learning curve.
Anyway, I kicked off some live trading today with Fantom (FTM) and closed two quick trades within an hour or two, resulting in a 6% profit. Not a bad start! See you all in the next one!
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.
Comprehensive list of referral links for platforms & opportunities I utilize to generate daily Crypto income.
I enter trading a couple of years ago and had to run out immediately because hey, it is emotionally wrecking. I said to it goodbye, it is not for me.