RE: Steemit Crypto Academy Contest / S3W4 – Cryptocurrency Trading by @drqamu
As for trading styles are concerned, crypto traders have different trading styles depending upon the time for which they can hold their position.
Yes that’s true, trading style also depends on the part of the trader to take risk, for instance scalping trade is very risky and if as a trader you’re not willing to take risk you don’t have to venture into it, even with all your technical analysis the market can turn different direction.
So I am doing short-term swing trading. I hold the position for a few days to weeks and sell on achieving the desired level of profit.
We are on the same path, I have also tried different timeframe and it fails me and I finally had to go for swing trading, holding the asset for several days or weeks when a desired price is hit then I sell.
One big example is that of LUNA. While LUNA was crashing, I purchased a spot with the hope of gaining in future.
We have much in common, I also bought LUNA and started dream how I will be rich when LUNA retrace back to its price. I bought it because friends where just buying and I didn’t want to miss the opportunity. But it’s all part of the lessons learned.
You are right. No one can predict any move with certainly.
Sad to hear that you too made a loss in LUNA.
Thanks for your valuable engagement here.
You’re welcome buddy