The 5 major things you should know about swing trading and how to make profits -a beginner's guide.
Swing trading is often considered better for beginners compared to scalp trading or day trading.
Swing trading is a commonly used trading strategy that can be ideal for beginner traders. It's a relatively convenient way to express opinions about the market due to the manageable time horizons involved.
Swing trading is a trading strategy that involves trying to capture price moves that happen on a short to medium time frame. The idea behind swing trading is to catch market "swings" that play out over a few days to several weeks.
Swing trading strategies work best in trending markets. If there's a strong trend on a higher time frame, swing trading opportunities can be plentiful, and swing traders can take advantage of larger price swings. In contrast, swing trading can be more difficult in a consolidating market. After all, if the market is going sideways, it's harder to capture large price changes.
How To be profitable in swing trading :
1. Start with small positions and gradually increase the size of your trades as you gain experience.
2. Keep a close eye on your overall portfolio risk.
3. Make sure that your swing trading strategy doesn't expose you to too much risk.
4. Use stop-loss orders to limit your losses on each trade.
5. Always trade with DCA
6. Always do a thorough Research
Remember :
📍 Cryptocurrency price prediction cannot be 100% accurate all the time, so invest wisely and manage your risk properly .