If you try to time the market especially in volatile environment like Crypto, you will be on the losing side 99.9% of the time in the long run.
People who think they will make a fortune trading this thing are all suckers who will lose in the long run. All it will take is a couple of unlucky trades and going on tilt(if you played poker you will be familiar with this term)
However if you view it as an investment, you might very well make some decent coin. Treat it like an investment. Don't keep looking at the charts. This is coming from someone who has been investing in the stock market since the age of 13 thanks to my dad. I've never seen a day trader from my circle drive a Porsche, but I've seen plenty of buy and hold investors who live the good life. Buy and hold if you believe your investment thesis.
If you jump from one coin to the other it will mess up your psychology and will make you go on tilt mode which will let you make irrational decisions. Stay away from day trading this thing.
People who think they will make a fortune trading this thing are all suckers who will lose in the long run. All it will take is a couple of unlucky trades and going on tilt(if you played poker you will be familiar with this term)
However if you view it as an investment, you might very well make some decent coin. Treat it like an investment. Don't keep looking at the charts. This is coming from someone who has been investing in the stock market since the age of 13 thanks to my dad. I've never seen a day trader from my circle drive a Porsche, but I've seen plenty of buy and hold investors who live the good life. Buy and hold if you believe your investment thesis.
If you jump from one coin to the other it will mess up your psychology and will make you go on tilt mode which will let you make irrational decisions. Stay away from day trading this thing.