CRYPTOCURRENCY MARKET TRADING, A BUSINESS OF PATIENCE
Hello to everyone in this wonderful community today and in this great platform at large today. I greet you all in good spirit and I want to believe that we all are doing just great today and if so we give God the praise for the sustenance of life and good health.
I welcome you all to yet another beautiful resting day which we all know as the weekend and I want to believe that we all are taking a chill pill by relaxing and resting due to the long week we all had which has just ended yesterday.
I am here once again to enlighten us regarding the aspect of trading and today's discussion is in a way an encouraging discussion that we will be having today. I have made it out to talk about an important topic which I have titled CRYPTOCURRENCY MARKET TRADING, A BUSINESS OF PATIENCE.
The topic might quite seem confusing to you but do not worry at the end of the discussion will you get to understand the concept and ideology regarding this discussion today. I want to urge you all to sit tight and relax as I begin the discussion for the day. I wish you a happy reading as I begin!
The concept behind today's teaching is to widen our perspectives regarding how we see the cryptocurrency market trading. It is expedient that in all you are trying to do in attaining result try as much as possible to be very patient and careful when carrying out the action that will lead you to your desired objectives.
Before I begin the discussion for the day it is crucial that I define the concept and let it out to your understanding for an easy assimilation and accommodation of the teachings and that would be me explaining the cryptocurrency market trading as a business.
HOW IS CRYPTOCURRENCY MARKET TRADING A BUSINESS?
A lot of us especially the newbies might be wondering how the cryptocurrency market trading is a business since it doesn't have a physical meeting point where traders purchase and sell off their goods and render services but here I am to make you understand this concept just follow me a little.
Cryptocurrency market trading is indeed a business and this business ofcourse does not have a meeting point and as such, traders only execute their trade order in a platform that has been designed as the meeting point with the help of the blockchain technology.
Just the way the cryptocurrency came into light and existence, in the same way the market was also created for the purchase and demand of the cryptocurrency and that is why it has an only spot where you can buy and sell your digital assets and you do not have to meet the buyer nor the seller in person because you can't, just make your order and in due time it will be executed.
Cryptocurrency market trading is a business because it entails supply and demand as in the case of conventional market. A trader can buy a particular asset using the accepted currency on the trading market known as the USDT and in no time that trade is completed.
Also a trader can equally sell that particular currency that was purchased or another depends on what digital currency he or she possess in the market and that digital currency can be sold in the market when the trader place a sell order of the said digital currency and in no time it will be sold off and the trader gets back the same accepted currency for the transaction in the market which is the USDT.
With that you can see how buying and selling of digital currencies takes place in the market and the market can be accessed through a platform known as exchanges. There you may not see the presence of anyone but you will see the activities in the market as millions of individuals, traders and investors are purchasing or demanding for different portfolios in the market.
You get to see how various orders are placed both supply and demand orders are executed in the market by traders. Most investors come into the market to spy on what digital currency to purchase and this depends on the potential of the given asset that has pleased the investor as all investors are in the cryptocurrency market to seek for a portfolio that will yield profits upon investment.
Now that we all have seen that the cryptocurrency market trading is indeed a business and operates just the way the conventional market operates and the only difference is that it does not have a physical meeting point where traders can see each other and everything is carried out on the blockchain technology.
Now let's talk about the major topic for the day before I take my leave in a short while.
CRYPTOCURRENCY MARKET TRADING, A BUSINESS OF PATIENCE
Cryptocurrency market trading is a business of patience and many traders, investors and individuals most times fail to understand this concept. Cryptocurrency investment can not be given a particular time where you get to make profit and this is solely because the cryptocurrency is volatile.
One can only give predictions but not an accurate report about how the price value of asset will be in a particular point in time. You need patience when investing your funds in the cryptocurrency market and if you do not have patient it is advisable to quit investing on cryptocurrency because your expectations might be cut short.
It is just like in the conventional market as a trader, you get to make your place ready and your goods intact, sitting and waiting for those who are likely to patronize you and purchase your goods in the same manner you have to wait for price to increase before you can sell to make profit as a spot trader in the cryptocurrency market.
When you purchase a particular asset in large quantity and your mindset is to leave it in the market for the price value to increase so that you can sell it off and take profit.
Sadly you get to see the price depreciating for some reason or another and on seeing that you quickly launch your exchange application to sell it off so that you don't lose your funds and eventually the price retrace back and begins to increase in price leaving you to wonder and with regret why you did not wait a little or why you were not patient enough to wait for a retracement.
Now this attitude of lack of patience has made the said trader to lose the profits he was supposed to get because immediately he sold of his assets at a low price lesser than the price he purchased it, the price then exceeded the initial price and it is now on a profitable price already.
If the trader continues this attitude there is every tendency that he will lose his funds in the market without making a single profit if he always sell of his assets at very retrace in price he noticed regarding his assets.
Patience is always the key to many things and this is not only applicable to life but also it is applied in our business and everything we do especially in cryptocurrency market trading. You need to be patient in this space if you want to be successful and make profits.
Always stay patient with the market and it does not matter what order you have executed as a trader or what portfolio you have purchased waiting for the price to rise up as an investor, all you need is to be patient with the market after you must have made your findings and your market analysis regarding the currency you're trading.
If your findings are true as an investor and your market fundamental analysis are correct as a trader, all you need is to be patient in the cryptocurrency market and in one way or another the expected result or outcome will surely be at hand if patience is employed to the trading and the investment.
Thank you all for having me today. I hope this teaching has encouraged we all to be patient with the price of our portfolio in the market and sooner or later it will turn in our favor. Have a great weekend everyone.
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Regards,
@theentertainer
Thank you brother. Well noted!
👍🏻