How to find your winning crypto trading strategy

How do you find a trading strategy to help you remain profitable long-term?

One of my favorite advice for any crypto investor, especially those coming into crypto for the first time, is to avoid trading (especially day trading) by all means.

I know it’s tempting to jump in and become the next millionaire in your family after a few weeks of “trading,” but that’s only possible on Instagram, YouTube videos, and the internet, where you hear guys killing it big with crypto trading. This is reality, let’s face it.

Ignore all the shills and pay attention –day trading offers the “opportunity” to make quick money and the “guarantee” of losing money. If you read my line well, you’ll pause to think about it –you can make money accompanied by guaranteed loss.

Having said all that, it’s not to discourage you from embarking on this journey to the Lambo Kingdom; it’s just a necessary reality check-up before we enter into the main business of finding a trading strategy or strategies that work just fine for YOU:

1. Research

The problem with many people is that they’re too lazy to be able to make real money. You can’t be ignorant and be rich.

Money doesn’t fall in love with ignorant people. So, if you want money to start courting you, you must wake up and learn.

The first step to finding your trading strategy is researching the various strategies.

When and how do you use them? What are their unique strengths and weaknesses?

Identify and note down all the different strategies, styles, and techniques available for you to consider, such as:

  • Day Trading Strategy
  • Swing Trading Strategy
  • Position Trading Strategy
  • Trend Trading Strategy
  • Scalping Strategy
  • Range Trading Strategy
  • Arbitrage Trading Strategy
  • HODL Strategy

Gather as much information on these strategies as possible and begin studying them one after the other.

I am more of a swing and position trader, mixing it with scalping sometimes when in the mood of the action.

2. Study

Click or tap here to study the different crypto trading strategies.

The next natural step after discovering what strategies are out there is to study them thoroughly to find the ones that resonate with your personality and risk appetite and that you’re comfortable with.

Study them in-depth and try to master the few ones you like.

Which of them can best help you achieve your trading goals?

Do not pick the one that seems to be able to bring you the quickest returns – you’ll be laying a lousy foundation for your crypto trading career if you do so.

You know your goals and how much time you have for this.

  • Are you going full-time or part-time?
  • Are you planning on trading with a large sum or just a few bucks?
  • What is your risk tolerance?

Trading is a serious business that can make or break you financially, so you must consider it before you put your leg forward.

3. Practice

You know, practice makes perfect.

You can know everything about every single trading strategy out there, and that knowledge alone will not put money in your wallet.

It’s time to take action and put what you know to the test.

Practice your chosen strategy and refine its application to suit your personal preferences and goals.

Be creative in the application of your chosen strategy(ties).

Test on multiple criteria and find what works and doesn’t work for you.

Learn from your own experiences, adapt, and grow with it.

One good favor you can do for yourself is to avoid jumping from one strategy to another.

Pick one or two and be good at them until you become a master in those.

Dabbling between strategies will get you easily lost and confused, and you won’t know what works and what doesn’t work or why.

How did you discover that trading strategy that gives you an edge? Please share with us in the comments section.

Leave a Comment

Your email address will not be published. Required fields are marked *