Hello all, I am engaged in trading and I am often asked by beginners how to trade long-term or short-term strategy.
For beginners, I would advise you to trade long-term, but such trade does not suit impatient people, sometimes you have to wait a very long time, a couple of months, and maybe a year, and sometimes even more.
This strategy has a number of advantages, especially for beginners.
1. Compared to intraday trading, you do not need to be in front of a computer and watch the price 24/7, so the trader experiences less emotional stress.
2. Only when using long-term trading, it is realistic to take above 100% of the profit from 1 deal. With intraday strategy, this is hardly possible (except that a miracle will happen).
3. Unlike intra-day trading, you do not need to be a professional, enough to have basic knowledge.
Why I recommend this strategy. Based on personal experience, I often sold coins for example + 30% and literally in a week could sell + 100%.
You can also put a stop loss when the price is + 30%,and move the stop as the price increases.
This is my opinion, I do not force you to adhere to this strategy, study trading if it interests you and find your strategy.
I hope someone helped, If you have any questions, ask always happy to help.. Good luck!BTCBTC
I think what you call ‘long-term trading’ is better known as and better called ‘Investing in a Portfolio’ of BTC and good altcoins and Hodling through market upturns and downturns with sensible adjustments to your portfolio - i.e. taking profits and cutting your losses. This is how nearly all new crypto investors would start out as they get to know the market and crypto, how exchanges work, the wild swings up and down of crypto prices etc. one good piece of advice is to set profit goals when you buy a crypto coin, and at what price you will take 20% profit, 50% profit etc while letting the rest of the money you’ve made ride!
The ‘short-term’ trading is as you describe, and it is an area for experts with good equipment and sceeens and time to devote most of the day to with you closing out most of your positions at the end of the day at a profit or loss. Most people starting this list money the first few months and you can easily lose all your capital in a market like crypto, and it’s not a thing for newbie crypto investors to try.
The other type of trading is ‘swing trading’ where you buy a crypto and hold it for days or weeks selling at a predetermined profit or stop-loss, and this would be a stepping stone I think from having a portfolio to then allocating a small part of your capital to swing trading on paper first and then live. But again you can easily lose that trading capital of the market goes against you which it often does in crypto, and then as you say you can be left wishing you’d just hodled the damn coin when you look at its price in a year or two after a bull run! Crypto investors beware!