Jul 25, · Therefore, the best strategy is to start small until you get your bearing. Are there any differences between day trading Bitcoin, Ethereum, and Altcoins? The only difference that exists between trading Bitcoin, Ethereum, and other altcoins is that both Bitcoin and Ethereum are safe commitments for beginner traders. Smaller altcoins that are Author: Mikhail Goryunov. Best Bitcoin Trading Tips & Strategies ️ View an actionable summary of the best bitcoin trading tips & strategies which includes the leverages, minimum deposits and more. Apr 14, · The best Bitcoin trading strategy is an 85% price action strategy and a 15% cryptocurrency trading strategy that uses an indicator/5(48).
Best trading strategy bitcoinThe Best Bitcoin Trading Strategies You Should Try Right Now – NewsDay Zimbabwe
Contact me via kramerp04 gmail. If you want to buy more bitcoins up to 0. Forex Trading for Beginners. Shooting Star Candle Strategy. Swing Trading Strategies That Work. Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page. Info tradingstrategyguides. Facebook Twitter Youtube Instagram. How to Start Trading Bitcoin: The first thing you need to get started trading bitcoin is to open a bitcoin wallet.
Available in the United States, Canada, and the majority of countries in Europe. Offers several payment options. Binance is the second-largest exchange that trades over different currencies. Has low transaction fees 0.
Bitmex is the third-largest exchange and only trades BTC. Great for short selling and margin trades. Bittrex is a US-based exchange founded by ex-Microsoft security professionals. OKEx is a Hong Kong-based exchange. Trades over different cryptocurrencies. Coinmama - allows you to buy and sell easily. Accepts credit cards and has a large global reach. How to Day Trade Bitcoin While long term traders prefer to hold their bitcoin positions for extended periods of time, day traders have discovered that Bitcoin is lucrative for many reasons: Crypto trading is more volatile than stock trading.
Bitcoin is traded 24 hours per day 7 days a week. Bitcoin allows for big trades with low overhead. Bitcoin is the most liquid form of cryptocurrency. Multiple trading opportunities emerge within a 24 hour period. The Best Bitcoin Trading Strategy — 5 Easy Steps to Profit This is a cryptocurrency trading strategy that can be used to trade all the important cryptocurrencies. Now… Before we move forward, we must define the mysterious technical indicator. You'll need this for the best Bitcoin trading strategy and how to use it: The only indicator you need is the: On Balance Volume OBV : This is one of the best indicators for day trading bitcoin.
What do we mean by this? Step 3: Look for the OVB to increase in the direction of the trend. But, how do we know that? Step 4: Place A Buy Limit Order at the resistance level in an attempt to catch the possible breakout. Ways to Enhance This Bitcoin Day Trading Strategy While bitcoin day trading does have some risks, there are many ways these risks can be reduced. Remember to: Diversify your trades. Combining Bitcoin, Ripple, Litecoin, Ethereum, and other cryptocurrencies will help reduce the daily risk associated with a specific coin.
Minimize trading costs. Opening multiple positions every day affects your daily ROI. To minimize the cost of trading, choose a trustworthy exchange that has low fees.
Watch Trading times. Plan out trading times that are compatible with your schedule. Bitcoin trades 24 hours a day. It's different from the NYSE. Follow Bitcoin News. Pay attention to cryptocurrency news stories to stay ahead of the market. Set up alerts and other types of notifications. Use technical analysis. Use strong technical indicators like OBV. This will help you justify each of your trades. Use stop losses. Set stop-loss orders on every trade. Start with a profit loss ratio of Author at Trading Strategy Guides Website.
Alexis Jk Dela Cruz says:. September 27, at pm. TradingGuides says:. November 9, at am. Kramer Parker says:. October 28, at am. Robert Donald says:. November 28, at pm. Home News. SA records the highest Covid daily infections since the outbreak.
EU and Britain seal post-Brexit trade deal. RFA calls for further intervention after truckers die at Beitbridge. No joy for cotton farmers. Hotels full as tourists troop back. Fixed exchange rate hits Ariston. Federer, Serena among entries for Australian open. Salah is happy at Liverpool, says Klopp.
Proteas seek to change fortunes against sri lanka after covid hiatus. No hard feelings for Bhamusi. Do you have a coronavirus story? You can email us on: news alphamedia.
Manage consent. Should the market price fall, traders will then buy their asset back for the lower price and coin profits from the difference. This means that, when using this strategy, traders will be trading on times when massive news breaks. This includes instances where the news reports events such as natural disasters, terrorist attacks, and others which cause assets to fall. However, this is a risky strategy as there is a likelihood that prices on these assets may fall even lower.
This strategy entails that a trader enters a position as the price dives should the expectation be that the current trend will endure.
This also involves a lot of discipline in trading psychology as it may trigger the overwhelming urge to close the position should the price continue declining in a downward trend. Trading, and Bitcoin trading, deserves a lot of consideration and tactic with the goal on making profits and minimizing any losses.
Therefore, it is imperative for traders to ensure that they start with a basic understanding of Bitcoin trading first before trading. There are numerous strategies that can be employed when trading Bitcoin and traders are urged to ensure that they thoroughly research and learn their strategy before moving to another. The general rule concerning strategies is that it is better to have one good strategy that works instead of having numerous strategies that increase the chance of losses while they do not make profit at all.
In addition, traders need to realize that there is no holy grail of strategies where trading, Bitcoin included, is concerned and one trading strategy that works for a trader will not work the same for another trader as each has their own trading styles, needs, and objectives. When trading in Bitcoin it is imperative to secure your investments. Bitcoins are only as secure as the wallet storing them. Best Forex Copy trading Platforms and Brokers according to research in South Africa, Copy trading, also known as social trading, mirror trading, or auto trading […].
View Share. Sign up and we'll let you know when a new broker review is out. All data is delayed by at least 15 minutes. Tel: Read Review. Download our free e-book. Skip to content Search. What is Ripple? What is Litecoin? Is Luno Safe? Best Brokers. Forex No Deposit Bonus.
Open a Bitcoin Wallet. Broker of the Month. Bitcoin Overview When trading Bitcoin, it is the simple process involved with buying low and selling high. Fundamental Analysis Fundamental analysis involves the evaluation of mainly both economic and financial variables along with several others. There are numerous variables that influence the demand of Bitcoin including: User adoption Transaction activity, and Trading User adoption is important as it is crucial to the long-term viability of cryptocurrency, and the driving force behind user adoption is the fact that money has various uses.
Technical Analysis Technical Analysis in Bitcoin trading requires traders to read charts and it is an essential skill in trading Bitcoin successfully. Ways to Trade Bitcoin There are numerous ways in which Bitcoin can be traded with two of the most predominant ways being the trading of Bitcoin and other cryptocurrencies on Forex and thus through a Forex broker , or by trading through a cryptocurrency exchange platform.
It is one of the best trading platforms which provides traders with an array of tools such as: Advanced charting tools A wide range of timeframes to choose from Different order types, and more. How to choose the right broker through which to trade Bitcoin Numerous Forex brokers have started making provision for the trading of Bitcoin by offering cryptocurrencies as a financial instrument in their portfolios of assets offered.
But before traders can start with selecting a broker, there are some key points that need to be considered in choosing the right broker namely: Traders need to know their needs whether it is educational sources, as a beginner, trading tools, research sources and tools, and more. It is also imperative to understand what trading goals and objectives the trader has. Narrowing down the field — as soon as the trader knows what they need, they can look at brokers to identify which ones will more sufficiently meet those needs.
Both these ways in which Bitcoin can be traded have distinct differences such as: Bitcoin currency pairs are traded in the same way as conventional Forex pairs. Should the trader buy a Bitcoin currency pair, they are speculating that Bitcoin will strengthen against the quite currency.
When dealing with Bitcoin CFDs, traders can profit from the change of price in Bitcoin without owning the asset. After selecting a Forex broker to facilitate the trade in Bitcoin and other cryptocurrencies, traders can follow the following steps to start trading Bitcoin: Open an account with the selected Forex broker.
Create a trading plan. Conduct analysis along with research, and Place a trade. How to choose the right Cryptocurrency Exchange Platform Bitcoin and Cryptocurrency exchanges allow for the sale and purchase of Bitcoin. The steps involved in trading Bitcoin through an exchange involve the following: Selecting a cryptocurrency exchange platform.
Opening an account. Depositing money into their account, for exchanges that require this, and Opening the first position on the exchange, whether to buy or to sell. Ensure that there is a plan It would be detrimental for traders to start trading blindly as there is no framework provided for the needs and objectives of the trader and essentially traders also have no idea where their entry and exit parameters are.
Do not leave funds on an exchange Earlier in this article, hot and cold wallets along with the issues surrounding security on exchanges was discussed. Beware of giving into fear or greed These are two emotions that tend to control and drive the actions of traders.
Learn the lessons Regardless of whether traders are successful or not, there are lessons to be learnt in trading. Know and Analyse Bitcoin Market trends Firstly, traders need to learn the basics of Bitcoin trading followed by what both fundamental and technical analysis entails and how it must be done. Plan a long-term goal Bitcoin trading needs to be done at a set pace as it is not a sprint to see who can make the most profit in the most efficient or fastest way.
Know the risk factors Trading involves a lot of risks and it is imperative for traders to ensure that they have risk management protocols in place to minimize their losses. Correct use of Leverage Leverage is a useful tool in trading, despite the financial instrument being traded, as it allows the trader to open larger positions despite their initial capital.
The use of programmatic strategies This involves experience, skills, and knowledge in coding as it opens a new world for traders to refine their trading skills and to tailor their strategies to precisely what they need. Learn different methods There are various ways in which Bitcoin can be traded where strategies, utilities, and methods are concerned, and traders should take time in exploring different options to find ways which cater specifically to their needs and objectives.
Size positions accordingly While trading, traders are urged to put the correct amount of funds into a trade while keeping tabs on specific sizing methods to ensure that the risk and reward ratios are correct and to avoid putting too much funds at risk.
Find a broker or exchange that cater for trading needs Before selecting a Forex broker to facilitate trades or a cryptocurrency exchange platform through which to buy, sell, or trade, traders need to identify their trading needs and objectives. Make use of demo accounts Before trading in a live environment or choosing a specific broker or an exchange, it is imperative for traders to make use of demo accounts to test the platform and offering of a broker or an exchange.
Stochastic indicator with a 5,3,3 setting The Stochastic oscillator is used by traders to identify market conditions where overbuying or overselling is present.
Long Entry Should the faster period moving average cross over the lower period moving average, the trader is signalled of a short-term uptrend in bitcoin. Short entry A short signal is returned when the period moving average crosses below that of the period moving average.
Bitcoin Breakout Trading When using this strategy, the focus is on identifying breakouts around familiar price ranges and chart patterns such as: Head and shoulders Double tops and bottoms Various triangle patterns Channel and trendline breakouts, and numerous others. Bitcoin Trend-Following This day trading strategy is based on the trade of the underlying trend of Bitcoin. Bitcoin Countertrend Trading This strategy refers to catching price corrections which may go against an established trend.
Automated trading The name of the strategy is self-explanatory. Hedging In Hedging Bitcoin, traders open strategic trades to decrease or eliminate the risk of existing positions. News-based Trading This means that, when using this strategy, traders will be trading on times when massive news breaks. Conclusion Trading, and Bitcoin trading, deserves a lot of consideration and tactic with the goal on making profits and minimizing any losses.
How do I trade Bitcoins? Here are some helpful Bitcoin Trading strategies. What is the best bitcoin trading platform? What is the fee for opening a Bitcoin trading account? There is no fee.