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Crypto Trading Strategies You Need To Know
!) Day trading. This trading strategy involves taking positions and exiting on the same day. ...
!!) Range trading. ...
!!!) Scalping. ...
!â) High-Frequency Trading (HFT) ...
â) Dollar-Cost Averaging. ...
â!) Build balanced portfolio. ...
â!!) Avoid making trading calls based on hype. ...
â!!!) Primary Research.
As per a recent news report, over 10 crore Indians own cryptocurrencies. The number, in all likelihood, may go even higher during this festive season.
However, similar to trading in equities and commodities, crypto trading is fraught with risks and pitfalls. In order to get long term benefits from crypto trading, market enthusiasts need to develop strategies that can make trading fun and safe at the same time. Let us start by going through strategies that can help you get favourable returns.
Day trading
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.
Range trading
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.
try it,
