I know it's advisable to buy low and sell your coin at a higher price. What I don't understand is that when you sell high, do you suppose to buy so that your profit will not depreciate when the price is going low? I need an expert to clarify me, Thanks.
when you sell high?These questions are the most common things that been asked on each trader where we wont really know on when to sell or on when to buy depending on your target profits percentage.Some people do set out some small percentage profit and some do really like to utilize or hit up the possible peak price. Compounding might do but at the same time it would really be more riskier yet we know prices can really change on a blink of an eye,
Without a strategy or plan you will be gambling
And as the saying goes, if you don't have a plan, plan to lose. However, even if you have a trading plan (trading strategy), it is not a guarantee of success, and the problem may not be with your strategy as such (though it still can be). Actually, there are two different problems with trading strategies, even with good strategies. The first one is that most people are unable to follow the chosen route through, at a certain stage they fail to stick to their approach to some degree. This is effectively equal to having no strategy at all, and that would be gambling as I said in the preamble
he second problem is the opposite of the first, when people are too rigid or even stubborn in following what they set up as their strategy. Any strategy, simple or otherwise, even the perfect one (the Holy Grail of trading) has its finite scope of application, i.e. the environment in which it should be used. But if the environment changes radically in the process, following the chosen strategy may no longer be reasonable as its premises may no longer hold true. But some people are stuck with the idea of pushing it through no matter what. This is as bad, if not badder, as having no strategy at all
