Sep 26, · Before day trading Bitcoin or any other altcoins, it’s prudent to wait until we have a high reading of volatility. The good news is that even when we have a low reading of volatility relative to other asset classes, this volatility is still high enough that you can generate a modest profit on your trades/5(). May 07, · Day Trading Cryptocurrency: What You Need to Know First. In the above section, I briefly discussed what day trading cryptocurrency actually is and some of the crypto trading strategies people use. This section is going to talk about the mental side of trading, which is probably the most important thing to consider. Volatility. The only indicator I ever employ is a short-term simple moving average. Let's look at the simplest day trading strategy in the world. Timeframes 2 hours. I am going to use a 2-hour chart. Anything lower than this IMO has far too much random noise. Whilst anything higher and you’re getting into the realms of swing trading, not day trading.
Btc day trading strategiesLearn How to Day Trade Bitcoin: a Guide with Winning Trading Strategies
Info tradingstrategyguides. Facebook Twitter Youtube Instagram. Crypto day trading also requires the right timing and good liquidity to make precise entries.
Crypto Day Trading Strategy The idea behind crypto day trading is to look for trading opportunities that offer you the potential to make a quick profit. Step 1: Pick up Coins with High Volatility and High Liquidity As previously discussed, the number one choice you need to make is to pick coins that have high volatility and high liquidity.
The preferred settings for the MFI indicator are 3 periods. How to use the IMF indicator will be outlined during the next step. The price needs to hold up during the first and second MFI reading.
See below: Step 5: Hide your protective Stop Loss below the low of the day. Take Profit during the first 60 minutes after you opened the trade. Conclusion — Crypto Day Trading If you took the time to read the whole day trading crypto guide, then you should be able to buy and sell Bitcoin and alts and make some daily profits. Thank you for reading! Feel free to leave any comments below, we do read them all and will respond. Also, please give this strategy a 5 star if you enjoyed it!
Author at Trading Strategy Guides Website. XRosewoodX says:. February 8, at pm. TradingStrategyGuides says:. February 12, at pm. Alain says:. February 28, at am. March 6, at pm. Rose Wood says:. March 31, at pm. Suresh says:. May 1, at am. April 14, at am. Drew says:. September 4, at pm. April 19, at am. XQ says:. May 8, at am. Dan says:. This gives you a riding wave to follow once you are sure of the range and a few chances at entering and exiting with profit.
The flag shape formation is a result of a stock that made a strong move upward, on high volume forming the pole shape , and then consolidating at the top of the pole, on lighter volume, where the flag is formed.
The secret in Trading the Flag is to identify a flag that has a pattern with less than a This is one of the best Day Trading Setup for new traders for a number of reasons.
They are easy to understand, and it does not take long to identify them or to get good at noticing them, and they are generally small chart patterns, which means they tend to carry less risk than other day trading setups and can yield sometimes pretty good results.
This is a very profitable Day Trading Setup for the Bitcoin market as it is one that world well with the more volatile markets. The aim here is to catch the pause in the market before the next break out and it usually comes at the point of a triangle.
Triangles occur in the Bitcoin charts when there are at least two swing highs, and two swing lows that have a connection with trendlines that head right. With the triangle setup, you buy below the most recent swing low and sell above the most recent swing high.
This method is quite a risky and potentially highly profitable one as it deals better with volatility which in the end is harder to chart and react to. This Trading Setup is a good one to use to try and maximize profits from potential breakouts. Fading is a strategy that exploits these blips in price. The fader bets against any move that takes the price out of a normal range.
THis is not the same as trading against a trend, but rather it only happens when the trader decides to fade when the movement goes into uncharted territory. In the world of Bitcoin trading, there is the opportunity for profit, but there is also a big draw for traders because of the rush of trading — especially Day Trading.
There is ample opportunity and volatility in the Bitcoin market, and a number of easy to use platforms to get going quickly, but having a little bit of a strategy makes it all that much better.
Getting a good Day Trading Setup is also a good way to start Day Trading Bitcoin as it gives a literal and effective starting point. The birth of cryptocurrency began with Bitcoin and with it blockchain technology. However, following its creation, several alternative decentralized crypto assets were created, some offering Uniswap is just one of many new automated market maker platforms offering liquidity pooling and token swapping through a decentralized exchange interface.
These new, innovative platforms Digital currencies are computer files that are stored in distributed databases that communicate over the internet. They can only be accessed or used through For day trading bitcoins you want charts that are between minutes. Whether you were day trading bitcoin in , or day trading it now in , consider using the on balance volume OBV indicator. It utilises an intelligent combination of price and volume activity to tell you what is the total money flowing in and out of the market currently.
How do you apply it to Bitcoin? If bitcoin trading is on the rise whilst the OBV trading is heading south, then you know people are selling into this rally, however a move to the upside would not be sustainable.
The same logic can be applied in reverse. Another one of our top tips — It is imperative you utilise multiple news sources. Bitcoin value is extremely reliant on public perception, so news events can trigger spikes.
Some of the most useful and user friendly news sources out there are:. When it comes to useful bitcoin day trading tips, many suggest that if there is zero negative news about bitcoin and cryptocurrencies in general, then it could well be the right time to sell. Trading bitcoin for beginners introduces numerous risks — traders must be aware of them before putting money on the line. Learning bitcoin trading can involve expensive mistakes, so this list of risks with hopefully offer new traders some tips to avoid the pitfalls:.
The cryptocurrency market and bitcoin, in particular, are an exciting market for the aspiring day trader. Demo Accounts offer a risk free way to learn how to trade Bitcoin. Bitcoin Brokers in Russia.
Skilling offer crypto trading on all the largest currencies available, with some very low spreads. Leverage of is also available. Regulated in 5 continents, Avatrade offer a very secure way to access Crypto markets. They offer a great range of Crypto, very tight spreads, and leverage. BitMex offer the largest liquidity Crypto trading anywhere. With the cryptocurrency pairs available on all accounts, NordFX traders can trade with spreads of just 1 pip.
Trade 11 Crypto pairs with low commission. IC Markets offer a diverse range of cryptos, with super small spreads. They also offer many cryptocurrencies not available elsewhere, without the need of a virtual wallet. Finq offer some really tight Crypto spread on the leading cryptocurrencies, plus leverage. All traded with tight spreads. No virtual wallet required, just a trading account.
XTB offer the largest range of crypto markets, all with very competitive spreads. IG Offer 11 cryptocurrencies, with tight spreads.