# *What is crypto currency trading?*

Cryptocurrency is a form of money just like our normal fiats,ie Euros, Naira notes, Usd etc. It is money in the sense that it can be used for buying and selling(trading) just the way we do with Naira notes but the difference here is that cryptocurrencies are not in form of physical cash, paper money rather it can be used digitally or virtually to perform those transactions. Hence it can also be called digital or virtual currencies. Another difference is that crypto currencies does not have a central authority governing or controlling it's value. Examples of these cryptocurrencies includes $Bitcoin, king of defi, $Ethereum, $Ada, $Dot, $Steem $flow, king of Nfts and many other thousands of them. Crypto trading on the other hand, is the act of buying and selling cryptocurrencies. In crypto trading, it's either you are buying or selling against usdt or another cryptocurrency. Platforms where we carry out these transactions are called *crypto exchanges*. These exchanges could be centralized exchanges controlled by owners examples includes Binance, Coinbase, Hotbit, Crypto.com, Okex, kucoin and many more. We also have decentralized exchanges such as Trust wallets where you are responsible for the security of your funds. They are not controlled by a particular person. Examples are trust wallets, metamask, safepal, etc. They serve as our personal wallets where funds can be stored safely for a long time provided you do not compromise your accounts.

# *Different types of trading*

You can either be a swing trader or a long term holder A swing trader, also called a day trader is one who trades on daily basis using speculations to determine price actions of the crypto he is trading on. He could be spot trading or trading on futures. The aim is to make daily income. While a long term holder known as a HODLER is one who after thorough research on a particular or sees a good long term potential of a particular coin, decide to buy early while it is still cheap and stock up in his wallet for long term gains. A HODLER is not moved by a short term price movement of coins. A swing trader encounters loss at times and as gains. I trde both angles. Reason is, it is in swing trading that one can generate some funds to stock up on his long term holdings. End result is maximum yield

# *Time frames in crypto trading*

To be a good trader, you must consider the following √ Market analysis √ Time frames √ Research tools √ Trading pair On market analysis, a good knowledge of charts is very important. Sites like trading view is helpful. On time frames, this is where we analyse price actions on time basis, could be on one minute, 5m, 1 hr, 4hrs, 8hrs, daily, weekly, monthly and YTD. As a day trader, I prefer 5minutes and 1hr time frame because it shows what could happen to my trades in a very short time. While as a HODLER, I use a 4hrs to monthly time frame. I usually trade against usdt ie shib/usdt.

# *To acquire some trading experience, it is important to trade regularly*

The answer is YES but there should be limit to everything because even as you make gains, self control is very necessary in trading to avoid loosing all your profits and even your capital back to the market. At least a trade per day won't hurt. Manage your risks. A personal experience I encountered sometime March made me to have a retreat and take some lessons on risk management. Due to success of my trades, I didn't give myself some space, I kept trading like 3 to 4 trades per day on futures trading till I got liquidated. Happy I recovered from the trauma. Now learnt a fresh lesson of one trade per day. As per keeping records, yes. When I buy a long term bag, I pen it down in my crypto diary indicating the amount spent in buying and the date of purchase.

# *Impact of artificial intelligence on crypto trading*

These are trading robots that helps us to trade even while we sleep irrespective of whether you are a pro in trading or a complete novice. Once you are able to activate your bot, you are good to go. It is quite advantageous because it helps to minimize loss in trading. The robot buys for you when it's low and sells when it's high at a certain percentage profit according to your settings. I have signed up for two robots sometime las year though trying hard to recall the names. One disadvantage of robot trading is when it has picked up a trade, and market goes against, your funds will be stuck except you manually cut your losses and quit the trade. Another disadvantage is I think AI are difficult to sustain. Most of them packs up within a month or two of existing.

# *Conclusion*

Cryptocurrency is the future of finance. To trade crypto, have a good knowledge of the coin, research, surf net. Don't just enter because others are entering. $Steem is one of the good crypto we have offering chat and earn through this platform. I am happy to be here

# *Special Mentions*

@cryptokannon @ngoenyi @focusnow @ijelady @okere-blessing