Trading is the daily life of everyone in the crypto world. And in the next years, intelligent investments will bring wealth to a lot of people. I'm sure everyone wants to become "the intelligent investor". In this post, I'll show you step by step the key to becoming a better trader.
Never invest wildly
- Never put money in something without thinking. Investing in something you don't know is not investing, just gambling. And as you know casinos are only profitable for the owner, not for the player. Analyze the coin, do your own research and don't trust other people. Guess work is not investing, it is wasting your money.
Analyze the best buying or selling point
- When you take a look at all those charts shooting into the sky, you should notice if it is only a bull run and you should sell or if it is the beginning of the Everest and you should pump more money into it. These moments depend on if you are planning a long-term or short-term investment.
Create yourself a target
- You always need a target for your investment, this is a very important point. If your money is growing and growing, it might go a little further than your target was. The problem is, we always want more and more money until the point that we lose it all. This is a very common mistake that every trader probably committed. Always remember your target and at the time that you achieve it, I recommend to sell. It's better selling a bit early than far too late.
- ICO's are nowadays very common investments. I personally love them because in less than an hour you see a green double-digit number. Investing in ICO's could be riskier than in other more common coins, but some of the projects are just undervalued and with a lot of growth potential. I have invested in some ICO's, and if you analyze them well and detect the good ones it can be a very lucrative investment.
Finally, these steps are necessary to become a better trader, remember do your own research and put yourself a target in every investment. Thanks for reading, follow this account to stay informed.