How do I know when to buy or sell crypto in other to make profit?

[Kingsley]

Lately I've been thinking of why some short term traders make losses while trading Crypto currency. Some of them buy at the wrong time or they sell at the wrong time. This got me thinking, are their strategy or signal one can emplore in knowing the right time to buy and sell crypto?

I think one of the most accurate way to get a lot out of trading is to be able to read the chart patterns. Getting tocknow how to use indicators and oscillators and also respecting fibonacci levels and also factoring support and resistance. This are some of the tools used in analysing trades.

But the golden rule of cryptocurrency trading hadn't Changed at all, it still remains that you should buy cryptocurrency when the price is quite low and you sell it off when the price has gone beyond your target, that way, you will get your targeted profits.

What do you think?

 

[Good-Guy]

The fact remains that even many expert traders of crypto face loss because no one can predict the price accurately when it comes to crypto currencies. However, Expert crypto traders do earn a good amount of money when they trade cryptos because they do have skills to analyse crypto charts and being able to understand how crypto prices work. If you believe you possess such skills, then you may opt to trade cryptos. But it all depends on the timing of buying and selling cryptos at the right time, as you said.

 

[Lens1000]

I am not disputing the fact that a good knowledge of the graphs, chats or indicator is a key around cryptocurrency market.
Lately, I discovered that behind the curtains are the major players who artificially manipulate price of the digital currency
Having said that, dont you think we will be doing ourselves a great favour by studying the behavioural pattern of the whales around cryptocurrency for market predictions

 

[Bookwormlux]

The strategy to avoid losing much of one's investment in Crypto Currencies is to use the stop loss feature which is Available on exchange platforms like binance. If you use the stop loss, it would help you to determine when you want to exit the Market. This helps you to avoid losing much of your investment.

 

[btaliat]

At times, to limit my loss, I do convert my coins to stable coins. And at times, when I have more time, I do read more about crypto analysis to know exactly the next move whether to hold or sell of my coins. Just that most of the time, the analyses are nothing to write about because not all time they are accurate especially when there are now big whales in cryptocurrency

 

[sincerem]

I use binance to trade crypto at times when i feel it is right to make extra bucks within some period of time, and also when i have enough to risk some. That's when i take to trade to try my chances with some experience and a mindset of bring successful. You place your coins at the buy option, hoping the coins will continue improving. When you place your order at the sell option, it means you're selling off with a view for the price to consistently drop.