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Trading techniques in cryptocurrency


trading techniques in cryptocurrency

trading with the breakout strategy, and you see a pattern that signals a possible breakout forming, use multiple indicators like volume and RSI to verify your hypothesis. Macd Moving average convergence divergence is another useful indicator that can tell us how the momentum (the rate of change of the price) of the market is changing. That is, if we own 1 BTC, we can borrow up.5 BTC to trade with. If you are actively trading, you will very likely want to learn the basics of TA (and should at least be doing some basic fundamental analysis as well). I recommend staying away from that as much as possible; its too easy to get burned doing. If you see a coin that peaks your interest, be sure to be extra diligent when evaluating. That is just the way. On an initial investment of 1000, compounded at 1 profit every day for one year would grow to 37,783.43! You should also explore more general subreddits such as these: r/CryptoCurrency, r/CryptoMarkets Podcasts: Epicenter, Unchained Leave a comment below if you have any questions about how I make a living day trading cryptocurrencies!

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Trading techniques in cryptocurrency
trading techniques in cryptocurrency

Just continue to keep it simple; find a strategy or two that work for you and roll with. A lot of these techniques have been proven by their use on the traditional stock market. Theres not a trader alive that can honestly say that they are perfect. 1 profit every day is a great goal. I cant emphasize this enough: Trading cryptocurrencies is all about minimizing losses and maximizing gains. Some people choose to buy a cryptocurrency and forget about it, much like you would do with some stock in say, Amazon. Invest What You Can Afford To Lose We all should know this rule, but it bears repeating. The idea in this context is that you find an opportunity where you can possibly make a 2 profit on a trade. Pro Tips Extra Resources, before we jump right into trading, there are are a few things that we need to cover. Always be sure to check there when evaluating a new coin. That is, our focus has been buying a coin at a lower price than what we think we will be able to sell it at later.

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