It is one of the business that allows you to get freedom and one can do whatever they want and can do it 24/7 at any point of the time that is convenient to an user.
Well there are few tricks that I do use in order to trade in crypto space.
Few things that any trader should keep in minds:
Remove your emotions while trading : The more emotional you get the more you will loose. Be that it be happiness/loosing money in crypto.
Be Professional : Once you learn the basic foundations of Tradings than you just keep your eyes and ears open and do the research of your own while investing in any coin. How is it performing, how is it acting for the past few days, what is the market value of it. Than go in and do your trades.
Experience: It does not comes overnight but once anyone starts some guilt will be there for loosing money but this is how almost most of the trades start but it will get over and the success in trading will come one day.
Patience : Thus is something really important. As because when to get in and when to get out with the profit is really important. Like if you have got the profit and still waiting for it to rise more than suddenly it drops to below the amount you have invested it would be really disastrous.
and last but not the least Think long term this short term tradings are risky but long term profits are hard but they are worth it.
Crypto has lot of potential in it. Especially if someone is targeting it for a longer period.
If someone intends to invest in this business, one should be very careful and have proper study of the crypto currencies, which he/she intend to buy.
One should also be very clear which type of investment he/she wants to make i.e short term or day trading, medium term and long term.
It seems that prices are at the lower side and eventually will go up if invested for the longer period. The point here is one should invest only that much of amount which he can afford to hold for a longer period.
If someone is will for short term, he should have proper market research before entering into some coins. It is also advisable to have some market to form an opinion.
Another point where many of us make a mistake is that one should not invest all the money in one coin instead invest should be diversified.
One should not make all the investment at once in one time instead investment should be made in steps.
It's not really a trick, but I know a lot of people use limit buys and sells so that they can work the averages. The most important thing you need to remember is that you haven't taken a loss until you sell. If you hodl, you will be okay as long as the coin recovers.
Here is a great example. I purchased some Litecoin when it was around $77. It has since dropped to the $50's and hasn't really moved from there in a while now. I haven't really taken a loss yet though because I haven't sold any of the LTC I bought at $77. As soon as things turn around, and it gets back close to $100 I will probably sell it for a small gain.
The main thing is don't let the small fluctuations in price get you down. If you are worried that you might make or lose a couple of cents here or there, you probably shouldn't be trading cryptos in the first place.
It's all about averages and just living fast and free. Unless you are holding. Then you do what you think is wisest!