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RE: How to profit in trading for beginners

in #cryptocurrency7 years ago

Great post. Very informative. I'm new to cryptocurrency investing and find short term trading a bit confusing. Since, all of the currencies and tokens fluctuate regularly, I don't fully understand what token or currency people tend to convert to when they sell? Do people typically convert back to currencies that do not fluctuate in price rapidly - like fiat (USD/EUR) or Tether (USDT) maybe? For instance, if you buy ethereum during a dip and want to sell when it swings back, do you sell ETH and buy USD? It seems to me that if you plan to convert back to Bitcoin or another token, then you have to be very aware of Bitcoins current price as well? Or is this part of the challenge of trading - knowing the spread between currencies/tokens? This is probably very obvious but its puzzled me for a while now. If you are willing to answer I would appreciate it :)

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