Money doesn’t grow on trees, and cryptos are no exception.

As we all know, any investment in Crypto ishigh risk, high reward. So, investors should be aware to consider the possibility of losing their investments in a short time. However, Day Trading is a trending topic in the investment scene where you don’t need much experience to put money on a bet and generate rewards faster than ever.

If you’re thinking to Day Trade, you have to be careful not to take it lightly. Every wrong move can mean financial consequences turned into losses if you’re not fully aware of the risks involved.

So that’s why we’re here to give you our Golden Tips of the Pros & Cons of Day Trading. Are you ready?

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Pros of Day Trading

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●       Anyone that owns a crypto exchange account can freely day trade. There are no barriers that preventyou from creating an account, verify your identity, fund your account, and then start trading. The opportunity to join the crypto market and interact with other investors or day traders is right there.

●       If you do Day Trading, crypto transactions are very cheap. This happens due to the absence of government taxes and fees: a decentralized market. Cryptocurrencies and the blockchains are designed to keep users on a low profile (meaning anonymous in terms of security) which allows them to process payments without intermediaries.

●       Apart from the Stock Exchange Markets, Crypto Markets are open 24/7 to buy and sell at anytime, any day, and anywhere. When you enter the Crypto Market, you have the luxury to trade when it best suits you rather than it suits the market.

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Cons of Day Trading

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●       Even thoughit’s really easy to start trading cryptos, the most inexperienced one cansimply incur catastrophic losses as they can gain profits. The more you learn, the better you’ll know how to manage your investments and decrease the probability to lose.

●       Not only with Day Trading but other trading strategies, you could fall victim to a pump-and-dump scheme when trading cryptocurrencies. This might happen when a group of people coordinate to artificially pump up the price of acryptocurrency in order to attract inexperienced and unsuspecting traders. After the traders invest their money, the coordinated group of people take the price out and take all the profits.

●       Sometimes,having a 24/7 open market can be a double-edged sword. The nature ofcryptocurrencies is to make predictable patterns to have profitable earning most of the time, but when the market continues to move non-stop, it becomes almost impossible to predict some successful patterns. Then, Day Traders may find themselves looking for the right time to execute a trade  longer than they expect, and their day sessions might turn into night sessions.

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Nonetheless, when you make the decision to start trading no matter the strategy you choose, it means you’re taking your inances into a new investment level where great things can happen if you learn how to move with the trends.

At GoldSignals.io we know how difficult it can be to turn into a trader, so if you’re brand new to this world, join us and let ushelp you become a successful trader.

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