The trader in training

Good morning/evening.
 
As you may have read from some of my previous posts, I have been experimenting with different styles of trading. There are many types of trading and you would need to find out which one suits you best. I am still working on that but I do know that most types of trading require your full attention and a lot of time. I also believe the only way to find out what suits you best is to have a go. There are sites where you can trade with 'pretend' money or even testnets where you can set trades without it costing you anything as again, you are using testnet tokens (I am currently playing on Berachain testnet). I feel by doing this, it is to confirm if my TA is correct (I am actually trying to use it as if it was real).
I also use Stormgain to practice trade and although I used the miner to earn my 2 x $10 for initially starting to trade, I class that as free money. With this again, although only a small trade, I set it as though I am setting a real trade on Kucoin, but usually the Kucoin trade may have more zero's. The only issue I had when I first started using Stormgain were the lack of pairs available, so I was not always able to trade what I wanted to. This also requires patience, not something I have an abundance of, but again I am trying to learn to be patient. So far I am also in profit on this and with Stormgain you can only withdraw profits from the trades and not your initial. Also there is a 10% fee to consider when withdrawing from Stormgain.
 
 
OK so what types of trading are there?
 
Buy and hold
I see this as more of an investment than trading and is for a token I believe will go up (BTC is my buy and hold, although there is a little set aside to actually trade). So the goal is to buy low and sell high, this could take a long time so for me it was a long term investment. Buy in the bear market and sell in the bull. It can also be on a shorter time frame, in my opinion that would depend on the market and the token.
 
Arbitrage
This is when you try and gain from the different exchanges having a different price for a token. I have never tried this and probably won't but I do know there are bots for this type of trading.
 
 Scalping
I have tried this and it is definitely not for me, I am far too slow at executing. When i tried this, although I did not make a loss, I found that it was a huge amount of effort, and took a lot of time for very small rewards. (that could be as I was only using $10 per trade, add a few zeros and it could have been better but while i'm experimenting I won't use large amounts.)
 
Day trading
It is as it says, You will open and close a trade within a day. You will need some idea of the types of tokens suitable for this. You won't want to day trade a token that spends a lot of time with sideways or with no movement.
I have day traded this token and made a decent profit from it.
 
 
Swing trading
I like this one, for me it is looking at charts and finding support and resistance levels and trading between the 2. I have been using fibonacci levels with a trend line. I have been setting take profit levels and stop losses and can gradually move that upwards if necessary, as well as adding to my position bit by bit. My current trade has been in for some weeks now and even though at times it has slightly gone into the negative I find this less stressful.
 
Leverage trading
This is where you can trade with a larger volume than the actual capital you are placing on the trade. Basically borrowing money to trade, which can make you huge gains but also huge losses. I have used leverage, or am using leverage but more in the borrow/ lend way. Well over collateralized and at 1.5 so I have a good health score and can sleep at night. As for some of the crazy Leverage plays I see like 50X on this or that token, it's a no for me and the most I have used is a 5X and only on a thoroughly researched token. Even then leverage can be a dangerous game.
 
You don't want to be wearing this, Available from the store that used to sell books.....
 
In conclusion.
 
This is not a definitive list of trading styles and I do not class myself as a trader but I am trying to learn. There are so many different Technical Analysis tools you also have to find the ones that suit you, much like the style of trading you want to do. The amount of time you can dedicate is also an important factor to consider. The fees you incur when trading is another thing you will need to check out, I hold KCS (Kucoin token) so the fees are reduced on this exchange and I also use MEXC. This is still a learning journey for me so please feel free to use the comments, with your trading style or TA tools. With everything in crypto though it is ESSENTIAL to thoroughly research what you do and what you buy. 
 
That's it for now, thank you for reading and please feel free to comment.
 
Image from sergeitokmakov