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RE: Musing Posts

in #musing-threads6 years ago

To answer your question objectively, I would say it is very profitable and very unprofitable. This is due to the simple fact that, cryptocurrency trading is extremely volatile. They don't really have established standard of fundamental value for investors to refer to, therefore most people trade on the basis of technical analysis (TA) and speculations. 

While I am not really advocating the implementation of TA in trading cryptocurrency, but it is actually quite profitable. First, you would have to understand that, ultimately, TA involves interpreting of people's fear and greed, at certain level of price range, there would be support  and resistance. While different people might have different trading strategies, for me personally, this worked well.

I would prefer to keep my %gain confidential but my strategy is always using support and resistance to check for the entry as well as exit price, with a little bit of market news analysis.