Purchasing and HoldingThis is a form of investment that requires the highest patience. You basically identify and invest in companies, stocks, or even cryptocurrencies that you believe will pay off massively in the future. People carry out researches and see what financial assets are undervalued. This means seeing the growth plan and where the asset will lie in, let’s say a year, five years, or ten years. This form of investment requires utmost patience and belief. Those who have that can enjoy the benefits. One example of this is Bitcoin- A digital asset that basically had zero value at the time of its conception in 2009. No one ever imagined that the coin could even move past a couple of dollars. There are trending stories of people who sold thousands of coins for a few dollars and are now regretting the decision. Fast forward to 2021, the coin hit its ATH of a whopping $65,000, and people are speculating that it can go way beyond 100K. That’s the power of holding. However, it is not simple. With BTC came a lot of other projects that couldn’t make it big. In fact, many of them don’t even exist now. So you have to realize that there are chances of losing everything as well.
Be wise while investing your money long-term and holding a certain asset!
Day tradingThis method is simple. With the intention of making profits, you take an asset for a certain price and then sell it within 24 hours. This is a risky method because you need to be very strong in your analysis to pull off day trading. Markets are never predictable. You will have to invest significant amounts of time in learning financial and technical analysis. Money markets run on several variables. You will have to learn to factor in the variables before making trades. At times you may even see irrational market movements that may not make any sense. For instance, technical analysis would sometimes show that’ll the market will slump. Yet, it continues to go up. At times when longing the market is the obvious bet, it may go short. So you need to be very proficient with the indicators and analysis if you want to pull off day trading successfully.
Be it forex or crypto; the safe bet is to buy the support and sell the resistance. However, there’s ample risk that you may not make it successfully and get stuck with your asset. It is not an uncommon sight that traders get stuck with their assets and may even have to sell them at a certain loss to avoid greater catastrophe.
Partner up with a forex trading platformThere are trading platforms that can manage money on your behalf. What they do is take money from you and invest in opportunities that they feel are lucrative. A good trading platform will have experienced traders that know the wavy markets. Also, they have experts from different markets and have the best knowledge of which markets will reap the best financial fruits. You’ll have to pay a certain fee and you can have your profits. This is especially a great option for those who wish to expand their income streams but cannot find enough time to understand markets and act accordingly.
A great platform will also protect your initial funds. This way, you have the guarantee that your funds are secure. This is probably the least risky method to make money and leverage markets to your favor.