Crypto Asset Trading Strategy
In crypto asset trading, there are various strategies that you can use and you choose to be your strategy for profit.
As we know, nowadays someone wants to earn extra income, one of the simple activities that can be done and have the potential to provide instant profits is to trade.
Actually, the trading principle is simple, namely buy when it’s cheap and sell when it’s expensive. The strategy is simple and can make you profit.
What is Trading?
Trading is an activity of trading investment instruments in a short period of time. Trading activity is also a trading activity that can provide profits in a short time span. Even so, it takes precision and knowledge and you must know the risks for traders before jumping into the world of trading.
After we know what trading is, let’s see what strategies you can use in trading crypto assets below.
This Day Trader is trading on a very short timeframe, and it is common to hold a crypto asset for only a few hours or even a few minutes. Usually this Day Trader makes instant profits. If you want to become an instant trader then you have to analyze the graph of the development of your crypto assets.
If you like to take advantage of the ups and downs of price movements within a week or even a month then you use the Swing Trading strategy. The way to do this Swing trading is that you buy the price of crypto assets when they are low and sell crypto assets when they are high.
Utilizing technical analysis and fundamental analysis is something that is very important for trading, usually swing trading takes advantage of it. Swing trading requires quite a bit of patience because you have to be diligent in monitoring market movements every time.
Scalping is more suitable for use if you choose crypto assets with a large volume, usually this technique is done by those of you who already understand crypto assets in depth because detailed knowledge is needed. If you are good at predicting the market, then you are a trader with scalping techniques.
Remember, this trading technique must be focused and alert in 1 to 15 minute intervals and this technique is risky but a quick choice if you want to make a profit in trading crypto assets.
Are you familiar with the word HODL? Well, HODL trading is a strategy where you buy crypto assets for a very long period of time. It could be months or even a year. In this strategy you just focus on fundamental analysis to choose which crypto assets you want to keep for a long time, for technical analysis usually these HODL traders rarely monitor market movements and rarely monitor their asset portfolios.
Remember, all types of trading strategies that you use must use unused money, yes, not kitchen money! Never stop to learn and get to know more about crypto assets and the blockchain world, you can learn at Indodax Academy.
So, which trading strategy do you like to use? Just use the strategy you chose at Indodax.