I hear from youtube that pro trader is dancing in the market whether the market is bullish or bearish
but for me as a newbie trader and lot do spot trade Im only buy in spot and waiting maybe short but with little margin
What do you mean with dancing? Do they always get profits whether in bearish and bullish season? I think everyone also can keep earning profits in each season, but we must know how to trade effectively. I prefer spot trading because it is safer, we don't need to feel afraid although the prices of crypto coins fluctuate. For newbies, spot trading is also very recommended, it is the best trading type that newbies can do.
Well, For traders to achieve consistent profits during the bearish and the bullish season, they need to undertake the trading risks cautiously. One of these is the portfolio diversification approach whereby instead of specializing within one class of crypto assets, other form of assets with lower correlation are incorporated. This may lower the effect of price oscillation from one coin and, therefore, stabilize the whole portfolio’s value. Take for example, it is also good to set a take profit and stop loss point so that one may not lose substantially when the market is against the projections.
Besides diversification, doing technical and fundamental analysis often helps to enhance your trading skills effectively. Knowledge of specific trends in a particular market and investors’ attitudes and the presence of factors affecting the value of cryptocurrencies helps when making a decision. To avoid missing the best time to enter or exit a trading position traders are also supposed to look forward to the moving averages, the volumes of trade and Relative Strength Index (RSI) to guide them. All in all integrating all these aspects traders can bolster the techniques and even can earn profits more often than not irrespective of it being an ever volatile market.