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đą Top Best Crypto Trading Strategies You Need To Know: đ€đ€đ€
đ„ Day trading: â
This trading strategy involves taking positions and exiting on the same day. The aim of a trader while adopting such a trade is to book profits amid intraday price movements in a cryptocurrency of his choice. For a successful trade, investors often rely on technical indicators to figure out entry and exit points for particular crypto.
đ„Range trading: đïž
Market players also rely on experienced analysts, who give out support and resistance levels each day. âResistanceâ refers to the point up to which the price may rise and therefore a resistance level is a price above the current price. In contrast, âSupportâ is a level below which a crypto price is not supposed to fall, hence a support level is always below the current price.
đ„High-Frequency Trading (HFT)
HFT is a kind of algorithmic trading strategy used by quant traders. This involves developing algorithms and trading bots that help quickly enter and exit a crypto asset. Developing such bots needs an understanding of complex market concepts and a strong knowledge of mathematics and computer science. Therefore, it is more suited for advanced traders than beginners.
đ„Avoid making trading calls based on hype ,Relying on social media for news on cryptocurrencies is among the mistakes that new investors tend to make. Investment decisions should never be based on hype created on social media.
đ„Primary Research
One of the most important trading strategies is to do primary research. You need not be an expert at trading to conduct primary research on the value of the asset you wish to purchase. This involves being updated with all the news flow regarding the crypto industry.helps you do that quickly by collating all the news items that you need to read before the start of your day.
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