#Crypto_Skull
Do you want to be successful in Crypto trading or are you just one of those that's on an emotional Crypto roller-coaster ride, following trends blindly?
To achieve real results, first and foremost, before starting to trade in Crypto, it is crucial that one establish a trading strategy and plan that alligns with your goals, preferences, risk tolerance and capabilities.
Most trading plans fall under one of the following trading types,
Day Trading
Day trading involves entering and exiting trades on the same day. A day trader closes all positions by the end of the trading day. No 'nightmare' surprises when you wake up.
Swing Trading
Swing trading focuses more on longer term trends in the markets. Positions can be held for days or even up to several weeks. The goal is to identify undervalued assets that are just beginning to see an increase in buying momentum and upward price movement. The swing trader looks to get into the asset as it trends higher, and then sell at a later date for a profit.
Position Trading
Position trading is a long-term strategy in which positions are generally held for months at a time to capture a long term price trend in an asset. Position traders may not strictly be hodlers, but they are similar to investors given their long-term horizon. Position traders are most concerned with long term trends in the price of an asset.
It is also a good strategy for beginners.
Scalping
Scalping is confined to very short, well timed trades. Scalpers might look to make many smaller profits by getting into and out of trades in a matter of minutes, or even seconds. They use technical analysis almost exclusively, and can also use more advanced techniques like arbitrage and exploiting bid-ask spreads. Because of the short time frame, the profit on each trade is small, therefore scalpers make dozens of trades a day.
Automated Scalping systems can be in and out of trades in seconds and place hundreds of trades daily.
Scalping is in no way suitable for beginner traders!