Should I trade everyday or just HODL?


Should I trade everyday or just HODL?

Should I trade everyday or just HODL?

So, you've heard a lot of stuff about cryptocurrencies and you've decided to invest some real money into this new opportunity everyone is talking about.

At some point you will decide which coins to buy and become a proud owner of your first cryptocurrency. Now what?

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Today, let's talk about 2 most common ways of what to do next.

#1 - HODL

Think about it. Do you have time to constantly monitor what is happening on one of the most volatile markets? Do you want to read all kinds of news regarding development of a certain company? Do you know or want to learn a ton of stuff about reading charts?

If the answer is NO, then buy wisely and HODL. It is just too risky to be trading every day, because there is a great chance you will sell on a day when massive gains happen. If your answer was yes, then option 2 might be better for you.

#2 - ACTIVE TRADING

Being an active trader is a full time job. Well, actually it's bigger than that. You don't just turn off your computer when the day is over for everyone else, but you constantly have to keep one eye open. You need a lot of discipline and knowledge to understand and be friends with the crypto market.

If you have that or you are willing to take the extra risks (and also potential extra gains), you get all the knowledge and understanding you can and trade the hell out of it. Remember, buy low and sell high. ;) Good luck out there!

TLDR: If you have time and knowledge to monitor the extremely volatile crypto markets and follow all kinds of crypto news, active trading might be a great fit for you. If you don't, invest some extra time into research which coins to buy and then HODL.

*HODL = HOLD

Tagged with: active trading hold hodl