#MyTradingStyle Particularly, I started trading with a small spot account. The first time I made a purchase of $BTC , it gave me returns because I bought at a low price; I remember it was $ 65,750, and I hoped it would rise to about 97,000, so I decided to sell.
Before making trades, one must assess risk levels and strategies, not using 100% of your spot account but rather what you are willing to lose.
The main trading styles:
Day Trading:
Involves opening and closing trades within the same day, aiming to benefit from short-term price movements.
Swing Trading:
Involves holding positions open for several days or weeks, taking advantage of market trends.
Scalping:
A fast-paced style that seeks small profits from multiple trades throughout the day, using minute or second charts.
Position Trading:
A long-term approach, where positions are held for weeks, months, or even years, seeking larger trends.
Factors to consider when choosing a trading style:
Available time:
Day trading requires more attention and time than swing trading or position trading.
Risk tolerance:
Scalping and day trading can be riskier than position trading.
Account size:
Some styles require a larger initial capital than others.
Trader's personality:
Some traders prefer the excitement of fast trades, while others feel more comfortable with long-term strategies.