LIVEBigShah
--
Basic Crypto Strategies you need to know in 2024.
Crypto trading is the act of buying and selling cryptocurrencies to make a profit. People trade these digital currencies on various online platforms, hoping to take advantage of price changes. Just like trading stocks, the goal is to buy low and sell high. People buy cryptocurrencies in pairs of a stable coin, which has a value of $1.ย
There are multiple strategies traders use in crypto to earn bucks. to list a few.
The most popular one is hodling. in which you hold your strong project coins for a longer-term prospective to sell them at a much higher demanded price.
scalping: this is a strategy traders use for quick momentum swings in different asset classes. To maximise the gains of these scalp trades, traders use high leverage and close their trades with small targets. Scalping is usually done in lower timeframes (mostly in 1 hour, 15 minutes, and 5 minutes timeframes).
Swing trade: Swing trading is a strategy where traders buy an asset and hold it for a few days or weeks, aiming to profit from expected price movements. They look to capture "swings" in the market by buying low and selling high within that time frame.
Range trading: This is a style popular in SMC (smart money concepts). In range trading, people aim to profit from the assetโs price fluctuating between the lows of a range and highs of a range. The range is usually drawn with the help of a support and resistance indicator; for best results, people usually draw in a higher timeframe.
Arbitrage: Arbitrage in crypto is basically a strategy used by traders to gain profit from the difference in price of an asset on different exchanges. People buy an asset at a lower price from one exchange and sell that same asset at a higher price to another exchange. This strategy requires quick execution and understanding of exchange fees and transfer times.
Demand and supply trading: It is a strategy in which traders find the balance between buyers and sellers. When the demand is high (buyers are in high numbers), the price of an asset tends to go up; when the supply is high (sellers are in high numbers), the price of an asset takes a drop. Traders look for areas where demand and supply are strong and make trades based on the expected price movements from these levels.
There are some key rules to follow in trading.
1.) Stop loss: Stop losses are used to protect our investments from greater losses. A stop loss is set to sell an asset when price drops at a certain level, helping the trader to minimise the losses.
2.) Dca: dollar cost averaging is averaging your total cost of a certain asset. Suppose you bought bitcoin (BTC) at $60,000 and it dipped to $40,000, and you bought it for the same amount. The simple mathematical equation for averaging will be applied and will bring your total cost to $50,000.
3.) Limit Orders: Mostly traders use limit orders to buy or sell their assets at their desired price. This gives a trader more control over their trades allows them to maximize their profits and minimize their losses.
Sign Up with my Referral Link
#CryptoTradingGuide #TradingMadeEasy #BinanceTurns7
There are multiple strategies traders use in crypto to earn bucks. to list a few.
The most popular one is hodling. in which you hold your strong project coins for a longer-term prospective to sell them at a much higher demanded price.
scalping: this is a strategy traders use for quick momentum swings in different asset classes. To maximise the gains of these scalp trades, traders use high leverage and close their trades with small targets. Scalping is usually done in lower timeframes (mostly in 1 hour, 15 minutes, and 5 minutes timeframes).
Swing trade: Swing trading is a strategy where traders buy an asset and hold it for a few days or weeks, aiming to profit from expected price movements. They look to capture "swings" in the market by buying low and selling high within that time frame.
Range trading: This is a style popular in SMC (smart money concepts). In range trading, people aim to profit from the assetโs price fluctuating between the lows of a range and highs of a range. The range is usually drawn with the help of a support and resistance indicator; for best results, people usually draw in a higher timeframe.
Arbitrage: Arbitrage in crypto is basically a strategy used by traders to gain profit from the difference in price of an asset on different exchanges. People buy an asset at a lower price from one exchange and sell that same asset at a higher price to another exchange. This strategy requires quick execution and understanding of exchange fees and transfer times.
Demand and supply trading: It is a strategy in which traders find the balance between buyers and sellers. When the demand is high (buyers are in high numbers), the price of an asset tends to go up; when the supply is high (sellers are in high numbers), the price of an asset takes a drop. Traders look for areas where demand and supply are strong and make trades based on the expected price movements from these levels.
There are some key rules to follow in trading.
1.) Stop loss: Stop losses are used to protect our investments from greater losses. A stop loss is set to sell an asset when price drops at a certain level, helping the trader to minimise the losses.
2.) Dca: dollar cost averaging is averaging your total cost of a certain asset. Suppose you bought bitcoin (BTC) at $60,000 and it dipped to $40,000, and you bought it for the same amount. The simple mathematical equation for averaging will be applied and will bring your total cost to $50,000.
3.) Limit Orders: Mostly traders use limit orders to buy or sell their assets at their desired price. This gives a trader more control over their trades allows them to maximize their profits and minimize their losses.
Sign Up with my Referral Link
#CryptoTradingGuide #TradingMadeEasy #BinanceTurns7
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
Replies 0
