Cryptocurrency trading secrets revealed.
Discover the 2-step process that traders use to generate quick profits.
Learn how to create a winning strategy and perfect your trade execution when trading cryptocurrency.
Cryptocurrency is a volatile, quickly moving market, but with the right tools and experience, you can make consistent profits. You just need to know the secret, which is revealed in this article.
The Bitcoin industry has grown exponentially over the past few years and now worth an estimated $8 trillion in total combined market cap for all cryptocurrencies. Traders around the globe are looking for new ways to profit from this booming industry.
One of the easiest and most practical ways to make money with Bitcoin is through altcoin day trading.
The success of day trading is all about learning to recognize favorable risk-reward setups, then being able to enter low-risk positions that yield high potential profits.
how you can profit from cryptocurrency markets by using these simple steps:
As a trader of cryptocurrency, you need a strategy that works in both bull and bear markets. Here are some tried and true strategies that will help you succeed:
Stop-losses should not be used in cryptocurrency trading but instead as a tool for managing risk in your portfolio. Use stop-losses to define the loss you'd accept with each trade.
The moment the price of a coin goes down, you'll want to get in touch with your trading platform's support team and set a stop-loss. Make sure it is an amount that will not affect your trade significantly if hit but high enough so that in case of a major market crash, you'll still have something to show for the day.
The strategy I use is similar to long-short equity trading. I look for strong trends in both directions and once the market is making these trends, I decide whether to go long or short with my trades. Most of the time I will be taking advantage of uptrends and I will be going long. Sometimes, however, you need to cash in on downtrends and this is where you will place your sell orders.
Longer-term is about a month to six weeks in cryptocurrency market. This is how long it takes for the trends to turn from bearish to bullish or vice versa. As such, you should have a strategy that will help you exploit both the upswings and downswings of these trends.
Just like any other trading strategy, bitcoin trading has its own share of risks and it's important that you know what they are so that you can mitigate the risk as much as possible.
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