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7 Tips and Tricks: Holding

The document provides 7 tips for becoming a good crypto trader. The tips are to practice patience and think long-term by holding investments for extended periods; learn the rules of crypto trading before starting; only trade with spare money rather than all available funds to avoid stress; handle emotions and don't make decisions led by fear or greed; perform technical analysis by studying price trends and patterns; do fundamental analysis of the qualitative factors affecting crypto values; and do independent research from multiple legitimate sources.

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Joyce Ann Repana
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263 views4 pages

7 Tips and Tricks: Holding

The document provides 7 tips for becoming a good crypto trader. The tips are to practice patience and think long-term by holding investments for extended periods; learn the rules of crypto trading before starting; only trade with spare money rather than all available funds to avoid stress; handle emotions and don't make decisions led by fear or greed; perform technical analysis by studying price trends and patterns; do fundamental analysis of the qualitative factors affecting crypto values; and do independent research from multiple legitimate sources.

Uploaded by

Joyce Ann Repana
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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7 TIPS AND TRICKS

Joyce Ann Repana | March 2022

1 | HOLDING
If you want to become a good crypto trader, one of the qualities you
should learn to practice is having a lot of patience. In investment, it is
not enough to just look at the movements of prices for just short-term. It
is best to think long-term when you start investing. It is called “holding”
because you will be on hold from withdrawing your money for a long
period of time until it grows there. A good crypto trader is not checking
the changes of prices daily and fret whenever the prices go down because
they understand that it is just temporary, they are looking to it in the
vision of 5 years, 10 years or even longer than that and they know that it
may be fluctuating daily, but they are sure that that it is fluctuating to an
upward direction.

LEARN THE RULES |2


This is one of the important things to consider when you’re just
starting in crypto trading. Before playing the game, you should
first be informed of the rules on how to properly play it. To
become a good trader, you should always take note of the
important rules, it will be mentioned in other articles, so it is for
you to find out what rules it includes when you are entering the
world of crypto.

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7 TIPS AND TRICKS

3| TRADE THE EXCESS


To become a good crypto trader, it is also important to take note
that the money you should be trading with is your spare money
or extra money you have. Do not ever try to take the risk by
taking out all your money and sell all the assets you have in here,
because if that is not an extra cash and it is all you the money
you have left, all you will be doing is feel worried and be feared
whenever prices go down. This may lead to depression and
anxiety because of the loss of all your money. Know that you can
only make the best of crypto trading if you will let it hold there
in the long term, so it is best if that money is just an extra, so you
still have what you need to make a living while your money
invested keeps growing on its own.

4| HANDLE YOUR
EMOTIONS
Another quality of a good crypto trader is knowing
how to handle his emotions. You should learn not to be so
attached to the money you have put in because in the first
place, you should know that there is an attached risk one
you enter this trading. Prices are always fluctuating, and it
is not good if you will be easily affected by the price
movements. In trading, if you let your emotions lead
rather than your mind, you are most likely to come up with
the wrong decision.

5| DO TECHNICAL
ANALYSIS
In investing, the two types of analysis should always be
present. One of them is the technical analysis in which it
is used to evaluate investments and identify trading
opportunities based on the price trends and patterns seen
on charts (Investopedia, 2021).

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7 TIPS AND TRICKS

To become a good trader, it is advantageous if you


can make right guesses based on your understanding
on the chart, so you can make have the best timing on
when to buy or sell your stocks, bonds, or currency.
But take note that in investing, time and not timing is
your greatest ally in building wealth. Invest regularly
and consistently in any market situation.

|
6 ANALYSIS
DO FUNDAMENTAL

Another type of analysis is fundamental analysis. It is a


method of determining a stock's real or "fair market" value
(Investopedia, 2021). Hence, it is not basing solely on the
technical aspects of your investment, instead it is also on
the qualitative aspect such as the company you are
investing in, the economic events happening that could
affect the price movements of crypto. This plays an
important role because this explains the reasons behind all
the changes in the prices as well as why is it worth
investing in that company. You can get this information
by watching on the trusted sources on YouTube, being
updated on the news, and seeking help from mentors.

7| DO YOUR OWN RESEARCH


This is always being advised by the mentors I have watched and heard; they always remind that it is not enough to
just base your knowledge on the information being given to you by just a single source. It is also important that you
do your own research, list down the things you are curious to know about crypto and look for it on the internet and
make sure, you will filter the information with those coming from legitimate sources. Make sure you can understand
it clearly and have seen the pros and cons of it. It is also beneficial for you if you will do research about the platform
you are going to use and ask for someone who has an experience using that platform.

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REFERENCES
Coin Bureau. (2021). My Crypto Trading Strategy
REVEALED!!! Top TIPS! Retrieved from
http://bitly.ws/p8PL

Favis, M. (2021). BASIC BITCOIN TRADING FOR


BEGINNERS COINSPH AND BINANCE 2021.
Retrieved from http://bitly.ws/p8Nk

Investopedia. (2021). Technical Analysis. Retrieved


from http://bitly.ws/p7aZ

Investopedia. (2021). Fundamental Analysis. Retrieved


from http://bitly.ws/p7aY

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