3 Sure Ways of Trading Cryptocurrencies
Most of us have been told to buy low and sell high if we want to make profits trading cryptocurrencies. However, there are 2 other ways that are often not talked about because of the risks involved and I will share them below.
Buy High, Sell Higher: This formula is mostly used when the price of a coin is pumping so well or when the market is bullish. Most people who also FOMO (fear of missing out) into coins that are already pumping are knowingly or unknowingly using this formula to make profit. However, if after buying the coin and the price dips, you will have to wait (for as long as necessary) before you can sell higher and that’s why you need some TA (technical analysis) knowledge before using this formula.
Buy Low, Sell High: This is the formula that we were mostly taught and it’s the most commonly used formula for trading cryptocurrencies. However, if the price dips after buying, you will also have to wait before you can sell high.
Sell Low, Buy Lower: This formula is mostly used when the price of a coin is dipping or when the market is (becoming) bearish. With this formula, you can make profits or accumulate more coins in a red market and you will need some TA knowledge to be able to trade better. It also has its own risks as well – If the price of a coin starts pumping immediately after you sold it, you won’t be able to accumulate more at a lower price and you will have to wait for the price to go lower before you can buy back.
Which of the 3 formulas do you use the most to trade cryptocurrencies?