Hi all. The title speaks for itself, eh?

Here with Gordon's deep thoughts, today I'm just going to through a few thoughts... nuggets of wisdom... take it and do as you wish.

I trade crypto every day. It is hard. If I didn't study, train, read, learn, practice, I would not be good at it. But, because I like to dig in and take on challenges, it just so happens I'm very good at this. Even so, I have long term unintentional hodls. I tend to have very few mis-steps, but I can attribute that to using the right tools.

When someone gets into crypto, they may be going through the same thought processes as most of us. None of us know where to turn when we get started. Everyone is talking about when moon, when lambo, and everything is going to 10X, 100X all over the place. But, then we dig into the forums, and everyone is miserable about how they've lost everything. What gives?

So, this is just a little about how to make your first moves, and I'll cover a lot more in other articles. Before you can really be effective in trading, the first thing you need to decide is what kind of trader are you? Once you find what you are good at and what fits your personality, attention, schedule, you can make the best moves possible.

The main formats for trading are:

Day trading, scalping, swing trading, mid, and long term trading.

A quick breakdown for you:

Day trading means you are looking for opportunities that you can get in and complete in a single day. If this category is for you, you have developed a very strong trading skill and you are methodical and disciplined. You know exactly how much of a profit you are aiming for and do not mind closing a position at that amount.

Scalping takes day trading to an extreme. You are looking for very little risk, small profits, and the more trades the better. If you get a little adrenaline rush from the fast pace of trading, this might be what you gravitate for. In my case, I like things very cautious and planned, but I have a strong scalping skill, so I tend to be out there on the edge in scalping and day trading and it ain't easy, but I'm 100% accurate the past 2 months, so it cannot be attributed to a guessing game.

Swing trading is like casual-but-serious day trading. Swing trades are set up on the first day and they are expected to reach profit within 2 days max. A person may see slightly longer trends than the day trader sees. The swing trader may go for slightly higher profit, but not anything extreme. It is more active than casual mid term trading, but it is a little less intense than day trading.

Mid term and long term are exactly what they sound like, and involve looking for trends over days and weeks. The longer the time period, the more a person is generalizing the trends coins will go. Even though more time goes by, it doesn't really mean a person can just buy low and wait a millennium. Crypto can turn on a dime and soon you're in the negative, deep in a dark ditch ya can't get out of. Don't do that. That's bad.

If a person is a true die hard HODLer, meaning holding on for dear life intentionally, than in my opinion that is classifed one step beyond long term, and should be treated more like an investor. This person is looking for less stress and drama, and their plan is to invest in the longer play value in specific coins. They aren't just looking for a set up, take profit, move on. They show interest in the long term growth, value, and stability in specific coins and expect a big payoff in the future.

All trades come with risk. No one can think that because they do one strategy or another, that they are safe. Longer exposure is risky. Jumping in quickly is risky. Waiting an entire day for the hope of bigger profit is a risk. What it ultimately comes down to is what you do best, and ultimately also what you enjoy doing the most. If you gain some kind of pleasure in accomplishing what you are good at in trading, you are more likely to keep it going.

I hope you find this a benefit. If so, TIP! :-)

Gordon Freeman Out.

For the funny stuff, go here:

https://www.publish0x.com/crypto-satire-fake-news-ripped-from-the-headlines