How to Maximize Profits in Trading Cryptocurrency

Golden9 · Jul 12, 2023

Everyone wants to buy the absolute bottom and sell the absolute top of any uptrend and vice versa when they are shorting, even though we know it's not really possible.

To maximize profits, you can use a large sum of money and then take profits along the way, similar to using dollar cost averaging to buy. This helps you to lock in profits in case price goes in the other direction suddenly.

Hate2Wait · Jul 12, 2023

It's better to invest in different crypto currencies and invest on a wallet which does not have high fee for transfer, withdrawal and even for swap and that would be ideal

Magnus2022 · Jul 12, 2023

I don't think there is any short cut. The only way to cryptocurrency is to put greed on check. Don't be greedy! I think that is the golden rule. Secondly, invest what you can only afford to lose. Dont dump your capital in crypto, it may backfire.

Suba · Jul 12, 2023

Thanks for sharing, if we use a large sum of money, and use a method like DCA, what if the price direction reverses down, doesn't it make us lose? So wouldn't it be better if we could determine when to go long and when to go short.

cherry123 · Jul 12, 2023

For me it is buying low and selling high. Just like you stated you buy the absolute bottom and sell the absolute top to make your profit. So you need to know when to buy

Smalto · Jul 13, 2023

It is always advisable as a serious crypto trader to keep an eye on your assets, because the market is na very volatile one, always take profit no matter how little it could be, it is better than to loose everything, like the saying goes, half bread is better than none.

Bisolami · Jul 23, 2023

Golden9 said:
Everyone wants to buy the absolute bottom and sell the absolute top of any uptrend and vice versa when they are shorting, even though we know it's not really possible.

To maximize profits, you can use a large sum of money and then take profits along the way, similar to using dollar cost averaging to buy. This helps you to lock in profits in case price goes in the other direction suddenly.

This is the exact thing I was telling a friend yesterday that it is better to trade with a lot of money and you are going to make a lot of profits instead of trying to use a little money to make too much profit

Smalto · Jul 30, 2023

In as much as trading with a lot of money is good, but one still has to keep greed in check, and only input the amount he or she can afford to loose, you can't just put all your capital into crypto, it is a very risky game to do.

Bisolami · Aug 1, 2023

Smalto said:
In as much as trading with a lot of money is good, but one still has to keep greed in check, and only input the amount he or she can afford to loose, you can't just put all your capital into crypto, it is a very risky game to do.

Trading is very risky and I was even thinking about trading a few days ago but I also realised that it does not make sense to put all my money into cryptocurrency trading

Desireu30b · Aug 17, 2023

Investing in more coins brings more profits that is what i know,
putting a large sum of money is at your own risk because the Crypto is volatile and can be a bad investment

eldavis · Oct 18, 2023

Like they say the higher the risk the more profit you get. I don't but i wont make this move unless i have enough cash and i am very sure of my trading skills.

kirubel · Nov 1, 2023

In order to maximize our profit from trading we need to know the market price range and decide when to buy a coin, and also increasing the leverage is another way to maximize our earning but its risky, and another way of maximizing our profit is to open more than one trade, so we can get good profit.

How to Maximize Profits in Trading Cryptocurrency

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