Did you know everyday people make money from crypto trading? Even novices with less capital can make a lot of money without going into the technical details of blockchain and its use cases. If you are new and have never performed trading activity, this guide provides you with a simple method to perform first-time trading.
1. This strategy requires at least $150 for trading activity.
2. Now open the Bitcoin weekly chart and verify if it is above the 20-day moving average (MA20). If you luckily found it, then start searching only for new coins. You can make more money if you only buy those coins that are hot in the bear market. The reason why we do this is because these coins will take off after the rise of Bitcoin. In addition, the coins you are selecting must have some stories, engagement, or other social metrics.
3. As a smart trader, put the stop loss when Bitcoin falls below MA20. It is particularly important for trading to protect your funds. If you realize that Bitcoin continues to decline, try to buy more such coins during this period. It’s better to have two or three chances to fail. It is also possible you can divide your funds into $50 each for different crypto pairs.
4. Keep away from ETH or BTC because you have very little funds. Only new coins make your dream. BTC or ETH require more capital and a different strategy.
5. If the market is moved from bear to bull, you will get a 125-times increase. However, this may require almost one year or two years to complete.
Finally, there are chances of failure. If you want to make money, taking a risk is the necessary principle. Crypto trading is not simple; both bear and bull are important to learn. The trader making money in the bull market always puts seeds in the bear to grow. When you are impatient and lose your composure early on, do not participate in crypto trading. Because trading requires stop loss when it is time to stop loss and enter the market when it is time to enter.
Thanks for reading.
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