Why Your Losing MoneyTrading Cryptocurrencies!.... From a 15 year trading professional.

The traders I see losing money in trading crytpo's are the ones that take a short term outlook. They think they can scalp these cryptos by trading shorter time frames. Ive been a trader for 15 years and trading these cryptos you must take a longer term trade perspective. It like if you bought a gold bar how willing would you be to sell it if it lost $200 in value. You probably would take the time to do this and instead just wait for it to regain value. Cryptos unlike other instruments are more of a marathon trade than a short term like trading futures or Forex. They also are a bit thougher to short as there isnt the opportunity to trade some of thecryptos on the short side. When you buy a crypto i would personally see a 3-4month trade horizon and then when it gets sold off look at it as a buying opportunity and average down your cost. Do not trade on margin as this will eat up your gains over a longer time horizon. When i analyze these charts i am always looking at 4hour and 6 hour charts to spot opportunities. If you want something fast and short term then i would stick to Forex. While cryptos can have big pops it may take 3-4 months of consolidation before a big 50% pop comes to fruition.