The thing is there is not trading method that will always work for everyone. Too many variables there ranging from your personality (we don't all have the same aversion or love for risk) the amount you trade (if you start with 50$ your best strategy could be to play on some very volatile - and dangerous - coins that can yield a high return in a short term, if you are trading with 50k, having a good return on 100000 sats is irrelevant), where you trade from (some exchanges are not available from everywhere) and I could go on. Not mentioning of course the fact that in some markets anybody can win whatever choice they make (spring 2017) and in some (early 2018) even experienced traders are struggling to just minimize losses. The strategies are just not the same in a bull market and in a bear market.
However you do need a strategy and it has to respect a few basic rules.
- diversify, usually I do not have more than 5% of the bankroll on any trade or coin
- don't enter with all your cash (keep some cash to be able to keep buying if the market keeps going down)
- check what you are buying (most tokens and coins are just vapor and will end up worth nothing), check the team, the plan, the size of the community, so you have a fair chance of holding something that will retain some value.
- set rules of exit (if I make of profit, I will take x% of the profit out of crypto). Not selling when prices rise is just as tempting as selling when prices fall, and in both cases it is quite often a mistake.
- learn about crypto while you are checking your status, DPOS or Pos coins can be a good option for beginners, or small bankrolls, but you have to understand how they work and find some that are reliable.
And be aware that to make some profit in any kind of trading you need some hard work put in and some luck. I am not sure that there was a trader that could imagine in 2016 that bitcoin would close 2017 at 20 000 (I certainly was not).
Good points! I highly recommend new traders to read these and comprehend it better. Don't believe those so-called crypto trading gurus that trading is easy and you can earn fast because trading is hard work and you need to have a system that you are comfortable with coupled with a strong emotional core before you even make your first trade.