Hey guys this is my first post on Steemit and I decided why not Steem about what I've learned so far from trading cryptocurrencies for long and short periods thus far.
:: This is What I've Learned so Far ::
Research is KEY (Research ALL of the Cryptos and be willing to understand and respect the different technologies approaching) - If you are a SERIOUS investor you need to do this and keep up!
NEWS effects the prices
Get yourself a Twitter and follow at least the top 100 coins and start following more as you research(follow your investments and ones that could be potential investments) - Also don't forget to follow big name developers.CoinMarketCap.com is your bestfriend. Always watch the trends and compare next to roadmaps and news.
** Watch for new coins on coinmarketcap with good financial and developmental backing(These are great short term investments)- I would recommend the ones that make it on the bigger exchanges. (Bittrex, Poloniex, Openledger)ICOs can be great for locking in profits and could potentially be an easy double or more if you are not 100% sure on your trades but these take time to end and distribute your investment so make sure to remember the first rule. Research is KEY
Long term holds are your great bread and butter! Make SURE the technology you are investing into long term will bring about great change in time for its community and retain its value. ( I started with $300 and invested into some good altcoins I heavily researched and almost every time they would reach a good top level to sell I would take some off the top 10%-50% and put the bitcoin back into more undervalued markets and just rinse and repeat...and grow :)
I make my Long Term and Short Term holds the same coins so I have backup.
Don't get too attached to your coins! You are trading to make more!
Last but definitely not the least.. DO NOT BE AFRAID TO HOLD! If you did your research correctly then you are on your way to the top.
Happy Climbing Guys :) Don't be afraid to comment what you have learned so far in your journey of the coins. I love to hear about any new crypto tech and experiences and I will be sharing only the most helpful of news and tips I can.
