If you are looking for a simple strategy for day trading on Binance, the following strategy may initially be easy and requires 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. $BTC $ETH
There is something said about the currency market that it is not a good market for investment and a market that burns money and is not recommended at all.
- It is true that anyone who does not know what he is doing will fail and that is certain, but with a little knowledge and information he will succeed in the end, so is the currency market, you must know the good currencies and market movements and follow some news in the world of money.
$BTC The major currency is still falling and rising between rising to a level and falling to lower levels.
- The major currency was not like this in the previous days, as it recorded a rise to levels of $ 70 thousand. - Now it is suffering a little and fluctuating between levels of $ 50 - 60 thousand.
- BTC will definitely rise, but it is waiting for a recovery from the wallets stored in it.
$DOGS In recent periods, all Telegram currencies have recorded a strong decline in prices, even Telegram's TON currency has fallen sharply.
- If BTC is adjusted to good prices, it will rise again and record good increases that benefit investors. - I do not see any strong increases in it, especially in the coming periods.
$NOT So far it is still falling to low levels that are not good, previously it was recording a rise to the level of 0.01 and now it has not exceeded that level.
- It is possible that if BTC rises it will return again to the previous high levels
- The latest news about Telegram must have affected the level of the currency price.
The market has been floundering in recent periods and all investors are looking towards the major currencies.
Sometimes it falls and all currencies fall with it, and other times it rises and all currencies rise, so far it has not stabilized, it is floundering between rising and falling to low levels that are not good for investors.
There will be a recovery but not soon, we must wait some time until the major currencies rise.
The Fear and Greed Index is at 29% so far. Market volatility is scary for some, and some traders still do not trust the current market numbers, which are still decreasing.
- BTC is trading at very low prices and may not rise to high levels in the current period.
The Fear and Greed Index is 26%.. Random market fluctuations have made investors fearful and alert.
- Investors are no longer moving their money quickly between currencies as before, but rather buying operations have become very few for fear of a sudden fall. $BTC
Some people go to the most profitable currencies and invest in them without knowing that some of these currencies are trending and others have risen because they are new or received what is called a pump or financial group pumping in one currency.
- He invests in them and they suddenly fall and he suffers many losses, so my friend, you must take caution and be careful and know the currency market well 💰.
$BTC The big currency has taken off again to the heights.
- This time it has exceeded the 59 thousand levels and wants to reach 60 thousand dollars. - It is possible that it will stabilize a little and then return to drop again to 57 thousand dollars.
$DOGS It will rise again, a corrective path and then it will take off again.
- It is possible that the rise will be prolonged a little due to investors leaving it, but when the subscription of the ton currency is completed, it will rise again to the heights.
- It is currently trading at prices of 0.0010 💰. - It is not investment advice (do your own research).