Crypto trading doesn’t work the same way for everyone. Every trader has their own style, own thinking, and own plan. Some people look at the screen all day and try to take profit from every small move. These are called day traders.
Some traders go with position trade which is normally done on 1D and 1W time frame. This kind of trade may take a week to complete. This is slow trading process but it gives good profit after one trade.
Similarly, there are intraday trader, swing traders which are done on 1H and 4H time frames. All these depends upon the nature of the trader.
On the other side, some people invest for a long time and don’t get worried by daily ups and downs. These are long-term holders or “HODLers”. These kind of investors are always successful and in the long run they end with profit.
All these depends on the trader nature, whether they will go for short term , medium trade or long term trades. Every of it has advantage and all depends on the traders skills.
If I talk about myself I am a position trader and my one trade takes around week or 2 weeks. Most of my trades are with HIVE coin which is a pumping coin and it pumps once in a month and that is the best time for profit booking.
It’s important to trade with your own thinking, so you can make better decisions according to your goals. In crypto trading, the most important thing is to understand yourself.
What kind of trader you are? Scalping, day trading, swing trading or position trading? Will be glad to see your answers in the comment section.
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