Bitcoin / TetherUSEducation
How to make 100$ a Day in Trading
f you are relatively new to trading crypto currencies, then this tutorial is what you need. In this tutorial, I will try to explain how you can use crypto to grow your capital consistently everyday.
Don’t just Hodl
Hodling (a.k.a. holding currencies) is the strategy of buying some crypto asset (e.g. Litecoin) and holding it for many days, weeks, months or even years. This may be a good strategy for newly launched ICOs that may double, triple or quadruple in value soon. But I personally advise you against holding, in other words, don’t follow the herd and don’t be a headless chicken.
The reason why holding isn’t a very practical move for well established coins is because of their volatility.
Risk of holding
Holding is more like gambling than trading, simply because the risk is too high and there’s too much uncertainty.
My strategy is to trade them continuously. I am a huge believer that assets unused diminish — meaning: whatever you don’t use, you lose. Saving piles of coins under your bed, hoping their value will increase isn’t always the best way — unless you are willing to take that risk or you know with high certainty that the price of some crypto coin will go up in the next few days, weeks or months.
Always research properly about the coin and project before buying for long term. There are some ALTs which are down more than 99% and people are still holding them in hopes (who bought them at ATH)
Day Trading
Trading assets on a regular basis could be a safer bet and might be more profitable for you.
So you can actually take the risk of buying today and selling tomorrow or within the next couple of days. There is no guarantee that tomorrow’s price will be higher than your current buy price — but it’s still better than crossing your fingers and holding indefinitely. You can trade according to your strategy and with a proper plan, Use calculated risks.
Try to Day Trade only high liquidity assets like BTC or ETH to overcome manipulation and high volatility.
Remember that profits come from buying as low as possible and consequently selling as high as possible. So everything starts with finding a good low entry position.
But don’t be scared because you will encounter a few red candlesticks along the way. And remember, not every trade you make will be profitable, but if you remain consistent with your strategy then you’ll have more wins than losses.
Even though trading can be a risky business, it is only so if you don’t have a clue of what you’re doing. But once you have a basic plan that works, you are set. I hope this post served useful to many aspiring crypto traders. Once you master trading with proper consistency, practice, patience and hardwork then it will be highly profitable!
Don’t just Hodl
Hodling (a.k.a. holding currencies) is the strategy of buying some crypto asset (e.g. Litecoin) and holding it for many days, weeks, months or even years. This may be a good strategy for newly launched ICOs that may double, triple or quadruple in value soon. But I personally advise you against holding, in other words, don’t follow the herd and don’t be a headless chicken.
The reason why holding isn’t a very practical move for well established coins is because of their volatility.
Risk of holding
Holding is more like gambling than trading, simply because the risk is too high and there’s too much uncertainty.
My strategy is to trade them continuously. I am a huge believer that assets unused diminish — meaning: whatever you don’t use, you lose. Saving piles of coins under your bed, hoping their value will increase isn’t always the best way — unless you are willing to take that risk or you know with high certainty that the price of some crypto coin will go up in the next few days, weeks or months.
Always research properly about the coin and project before buying for long term. There are some ALTs which are down more than 99% and people are still holding them in hopes (who bought them at ATH)
Day Trading
Trading assets on a regular basis could be a safer bet and might be more profitable for you.
So you can actually take the risk of buying today and selling tomorrow or within the next couple of days. There is no guarantee that tomorrow’s price will be higher than your current buy price — but it’s still better than crossing your fingers and holding indefinitely. You can trade according to your strategy and with a proper plan, Use calculated risks.
Try to Day Trade only high liquidity assets like BTC or ETH to overcome manipulation and high volatility.
Remember that profits come from buying as low as possible and consequently selling as high as possible. So everything starts with finding a good low entry position.
But don’t be scared because you will encounter a few red candlesticks along the way. And remember, not every trade you make will be profitable, but if you remain consistent with your strategy then you’ll have more wins than losses.
Even though trading can be a risky business, it is only so if you don’t have a clue of what you’re doing. But once you have a basic plan that works, you are set. I hope this post served useful to many aspiring crypto traders. Once you master trading with proper consistency, practice, patience and hardwork then it will be highly profitable!
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