If you are looking for a simple strategy for day trading on Binance, the following strategy may initially be easy and needs some adjustments depending on your specifics and goals:
1. **Simple Moving Average (SMA) Strategy**:
- Use the simple moving average indicator on a short time period such as 15 minutes.
- When the cryptocurrency price crosses above the SMA, this is considered a buy signal.
- When the cryptocurrency price crosses below the SMA, this is considered a sell signal.
2. **Risk Management**:
- Set a small percentage of capital for each trade, such as 1-2% of total capital.
- Set stop loss and profit target levels based on technical analysis or identifying support and resistance.
3. **Simple technical analysis**:
- Use basic technical indicators such as RSI (Relative Strength Index) to confirm signals.
- Avoid trading in periods of high volatility. This is a simple strategy based on the simple moving average, and allows trading decisions to be made quickly using basic technical indicators.
But you must remember that success in trading requires continuous learning and practice, in addition to effective risk management.
