All crypto trading strategies you need to know!
You don’t need to match the bank balance of Elon Musk to start trading with crypto. All you need are just a couple of things: CoinSwitch Kuber and ₹100, and you’re all set to start your crypto journey.
Wait! Before you start reading this, here’s a thought for you: Anybody Can Crypto! So you can choose to skip the wait. Who knows you might make some handsome fortune over time with all that you’ve invested in?
You don’t need to match the bank balance of Elon Musk to start trading with crypto. All you need are just a couple of things: CoinSwitch Kuber and ₹100, and you’re all set to start your crypto journey with India’s simplest and most loved cryptocurrency app.
-Imagine this scenario: You’re an aspiring businessman who wants to open a fancy fusion cafe by the beaches of Goa. You have got the investments, resources, and most importantly, big dreams. But what’s your strategy? Or how the corporates call it, Plan Of Action.
Before you step into anything that involves money, a concrete strategy must be in place and for that, you need to know all about that business. If you aren’t aware of how a cafe functions, how can you possibly run it?
Trading in crypto is very similar; before you start investing a single penny, you need to do your own research. As the crypto market revolves around volatility, it becomes very essential for you to know all the crypto trading strategies and be updated with the market trends.
And if you think that could cost you a lot of effort and time, then you’re just at the right place. Making it simple is what we all love to do.
Right at the beginning, you need to ask yourself, “Hey! Am I a trader or an investor?”
A trader plans to make profits in shorter time frames with smaller profits on each trade by selling and buying multiple times a month, week, or even a day; they’re risk-takers, and risks taken well might pay off well.
On the other hand, an investor desires to run the longer lap. His motive is to make profits over the long term, which maybe 5 years, 10 years, or even more. As it is generally believed that the markets go up over the long run, they have a higher chance of making substantial gains on each trade.
Although your crypto strategy might differ based on whether you’re investing or trading, here are a few popular trading strategies that you can follow to get started:
Day Trading — As the name suggests, this means buying and selling cryptocurrencies within the same day. By selling off all their holdings by the end of the day, day traders aim to reap the best short-term profits possible.
Swing Trading — This involves holding on to your investment for a few weeks or even a month or two. Here you must try to make profits based on market trends. Investing in undervalued cryptocurrencies that are likely to go up.
Position Trading — A position trader has a long-term strategy in place and is here for the long run; they invest in crypto by determining an expected upward trend and sell it post-the-trend at their planned profit.
Bot Trading — Crypto trading bots can be customized as per a trader’s short-term or long-term plans. They are trained and designed to make significant profitable trades tracing, scanning, and analyzing the market trends, but are not recommended for beginners due to the complexity involved.
So, which of these strategies do you think will suit your needs??
Jaldi decide kar lo. Kahin zyaada hi late naa ho jaaye!
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