Trading or buying and selling cryptocurrency does not recognize the word 'loss', there is only a little profit or more profit. When you incorrectly determine the selling price, your money is not lost because the coin prices will probably rise in the next period.
In the world of cryptocurrency trading, you can only lose all of your money if you buy 'dead' coins. You have nothing to lose if you trade coins whose value is sustainable.
'Dead' coins are coins that are no longer traded, no longer bought, and no longer sold. Sustainability of the value of a coin can be measured from the fundamentals of the coin: what the essence of the coin is and why it is needed.
The Right Time to Buy and Sell a Coin
The right time to buy a coin is when the coin has reached the lowest price and at least has increased by one level. This can be known by looking at the history of the coin from the beginning of the launch.
Do not buy coins that are downing and have not reached the lowest point. Buying coins at this stage is clearly a big loss. There is a possibility that prices will continue to decline and it will take a very long time to go up again.
The right time to sell the coin is when the price goes up. You can open profit taking position at the price point you expect. When the price touches that point, you benefit. If not, just wait for it to touch it.
If you failed trying other various types of business, you have to try cryptocurrency trading. It can be done at home only with a gadget, an internet connection, and a little money as initial capital.
To find out the characteristics of a good cryptocurrency, the article below might help: