Buy and HODL, Patience is the key!
The most difficult part in cryptocurrency trading is to hold a cryptocurrency coin or token in extreme market conditions or price movements,when someone see price is going up he loses patience and sold their Holdings to early in order to book little bit of profit, same is true when market goes down from someone's buying price he again sold it in order to stop loss
That's why long term holding with proper planning and price targets is very important,for example if someone able to buy Bitcoin few years ago when it's goes down to 3k per coin, then he decided to hold it for few years until its reached at 50K, imagine how much profit he made when Bitcoin price crossed 50k price mark
But problem is 2mwhen someone able to buys it at 3k he have to hold it at 10k,20k,30k and 40k that is most difficult part 90% investors losses patience when they see that much profit
For long term holding and investment do your own research about the project and its future, and also check the tokenomics of the native cryptocurrency of that project, tokenomics is really important to set a realistic price target. Like 100K per Bitcoin looks realistic price target with 21 million meximum only, but 10K per ripple or XRP coin is unrealistic target because it have more then 100 billion meximum supply
So after proper planning or setting price targets forget about temporary price movements, there is no need to check every price movement day or night 24/7
But if you are interested in a 1% or 2% short term profit per trade again and again, then I suggest to you use grid trading or bot trading instead of doing this manually and for this huobi global or kucoin are best exchanges right now in my personal opinion, even huobi and kucoin have better bot trading or grid trading setup or options than binance
There is another thing to keep in mind, long term holding strategy Should be changed in any extraordinary situation for example when Luna and FTX crashed in last year you have to get out of trade as soon as possible, there is no need to stick with your long term holding strategy in any same situation
I hope this will help you improve your trading skills and strategies, these suggestions are based on my personal experience and knowledge
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