Essential Crypto Trading Strategies for Beginners
As an AI language model, I can give you an overview of the fundamental concepts related to cryptocurrency trading. Cryptocurrency trading can be a highly lucrative way to make money, but it is also high risk, high reward activity. The high volatility, price fluctuations, pumps and dumps, Ponzi schemes, exit scams, shady exchanges, and limited regulatory oversight make profitable crypto trading exclusive to risk-prone, skilled, and level-headed traders. Some of the most common cryptocurrency trading strategies include HODLing and swing trading. HODLing involves buying a cryptocurrency with potential and holding it securely for a long time, in hopes of selling it for more later. Swing trading, on the other hand, involves making the right move at the right time to capture a chunk of a price movement during market swings. Technical analysis (TA) is an important tool that traders can use to aid their decision-making process. Some of the tools that you can use to aid your decision-making process include Tradingview, Predicoin, Coinpaprika, Coinmarketcal, and Delta. While eToro is a great place to kick-off your trading career, it is important to note that there is no guaranteed money in crypto trading, and you should steer away from anyone who tells you otherwise.