Buy and Sell in economics and financial terms is called as trading. And we are very familiar with it.
I have been talking to a lot of industry experts about trading and trying to understand their idea about trading.
While speaking to them i often ask a common question to them, ‘What is your experience when working with people? And what differentiates between you and other people?’
To my surprise most have answered the same way that through their experience people want to become rich fast like overnight. I agree all love money and all want to be rich but to get there what requires is a lot of discipline and patience along with some hard and smart work. Earning money completely depends on how you work.
What differentiates between others and good traders are that others just randomly buy and sell. What they lack is knowledge and a systematic pattern to follow.
To give an example – I person purchased a house for $100,000 and sold it for $50,000. Do you think he did a smart job?? Do you think he will earn good profit by trading in such a manner?
Another example of a person who purchased a house for $100,000 and sold it in 6 months for $100,010. This again do you feel is a good profit that this person has earned? Now you are wondering why have I given such examples..
To summarize it shortly, This is the mistake which often people do.
They want to double and triple their invest in just a matter of 6 months. Bitcoin is at that position right now because it has been in the market since a very long time. Like-wise it not advisable to sell your crypto coins at lower price, it is foolishness rather buy it when it is a low price. Crypto currency is a digital asset, the more you have the better for you. In trading it will just take an hour for you to lose everything if you don’t trade properly. So be wise, trade wisely and remember not to sell coins at lower price when you can sell it for higher later.
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