May 07,  · The first step when looking at how to day trade cryptocurrency will require you to find a good exchange. A cryptocurrency exchange will allow you to buy and sell coins 24 hours per day. It is important to think about what kind of cryptocurrencies you are looking to get involved with. Jul 25,  · Bitcoin is more volatile than any other type of asset in the cryptocurrency market. Therefore, day trading bitcoin comes with a considerable amount of risk. Bitcoin prices are highly sensitive to public sentiments and regulatory bitcoinlife24.de: Mikhail Goryunov. Jan 23,  · It’s very easy to get started with bitcoin trading. You can either deposit money to an exchange and trade it there, or you can sign up with a regulated cryptocurrency broker and discover the huge variety of bitcoin trading options.

Is it easy to day trade bitcoin

The Best Bitcoin Trading Strategy - 5 Easy Steps to Profit

You must do your technical analysis just as if you were going to day trade any other instruments. You can also read our best Gann Fan trading strategy. One of the reasons why Bitcoin is so popular among day traders is that there are many different Bitcoin exchanges available. Finding the best Bitcoin exchange will depend on many different factors. These include your home country, the preferred method of payment, fees, limits, liquidity needs, and other factors.

Here are some of the top cryptocurrency exchanges in the market:. A cryptocurrency is really no different than the money you have in your wallet. They have no intrinsic value. And cryptocurrency is just bits of data while real money is just pieces of paper. Unlike fiat money, Bitcoins and other cryptocurrencies have no central bank that controls them. This means that cryptocurrencies can be sent directly from user to user without any credit cards or banks acting as the intermediary.

When you print lots of money, inflation goes up which makes the currency value going down. There is a limited amount of Bitcoins. This holds true for the majority of the other cryptocurrencies. We will use our best Bitcoin trading strategy. We also have training for the best short-term trading strategy.

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:. Because Bitcoin is more volatile than other tradeable assets, there will be a high number of profitable trading opportunities occurring each day.

Like ordinary currencies, using technical indicators will make it easier to tell when price increases are likely to occur. Volume, relative strength, oscillators, and moving averages can all be applied to Bitcoin day trading.

It is important to pay attention to technical indicators and developing trends. In this next step, we will talk about OBV trading and how to get started buying and selling cryptocurrencies. This is a cryptocurrency trading strategy that can be used to trade all the important cryptocurrencies.

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:. It is used to basically analyze the total money flow in and out of an instrument. The OVB uses a combination of volume and price activity.

This tells you the total amount of money going in and out of the market. How to read the information from the OBV indicator is quite simple. Here you can learn how to profit from trading. In theory, if Bitcoin is trading up and at the same time the OBV was trading down, this is an indication that people are selling into this rally.

The same is true in reverse if Bitcoin was trading down and at the same time the OBV was trading up. What we really want to see is the OBV moving in the same direction as the Bitcoin price.

In this regard, our team at Trading Strategy Guides uses the OBV indicator with other supporting evidence to sustain our trades and gain more confirmation. The next step comes from the Ethereum trading strategy which will be used to identify Bitcoin trades. Now, before we go any further, we always recommend taking a piece of paper and a pen and note down the rules of the best Bitcoin trading strategy. Your chart setup should basically have 3 windows.

One for the Bitcoin chart and the second one for the Ethereum chart. Last but not least, make one window for the OVB indicator. If you followed our cryptocurrency trading strategy guidelines, your chart should look the same as in the figure above. Simply put, we are going to look after price divergence between Bitcoin price and Ethereum. Smart money divergence happens when one cryptocurrency fails to confirm the action of the other cryptocurrency.

For example, if Ethereum price breaks above an important resistance or a swing high and Bitcoin fails to do the same, we have smart money divergence. And the Ethereum trading strategy as well. In the above figure, we can notice that Bitcoin's price fails to break above resistance while Ethereum's price broke above and made a new high. This is the first sign that the best Bitcoin trading strategy is about to signal a trade. The same principles have been true for all the other major asset classes for decades.

Before buying, we need confirmation from the OBV indicator. This brings us to the next step of the best Bitcoin trading strategy. If Bitcoin is lagging behind the Ethereum price it means that sooner or later Bitcoin should follow Ethereum and break above the resistance. Simply put, the OBV is a remarkable technical indicator. It can show us if the real money is really buying Bitcoin or if they are selling.

What we want to see when Bitcoin is failing to break above a resistance level or a swing high, and the Ethereum already broke, is for the OBV to increase in the direction of the trend. We also want it to move beyond the level it was when Bitcoin was trading previously at this resistance level see figure below.

Here is how to identify the right swing to boost your profit. Now, all it remains for us to do is to place our buy limit order, which brings us to the next step of the best Bitcoin trading strategy. Once the OBV indicator gives us the green signal, all we have to do is to place a buy limit order. Place the order at the resistance level in anticipation of the possible breakout.

After all, we told you the OBV is an amazing indicator. Now, all we need to establish is where to place our protective stop loss and when to take profits for the best Bitcoin trading strategy. Placing the stop loss below the breakout candle is a smart way to trade. When it comes to our take profit, usually an OBV reading above , is an extreme reading that signals at least a pause in the trend. This is where we want to take profits. In the figure below, you can see an actual SELL trade example, using the best Bitcoin trading strategy.

While bitcoin day trading does have some risks, there are many ways these risks can be reduced. Here are some of the top ways to enhance your Bitcoin trading strategy. Maybe one day our fiat money system will go under and be completely replaced by cryptocurrencies.

However, as long as there are still profits to be made from Forex currency trading we encourage you to read our receipt for Forex trading success: How to Make Money Trading — 2 Keys to Success.

We hope that The Best Bitcoin Trading Strategy — has shed some light on how you can use the same technical analysis tools that you use for trading the Forex currency market to now trade the cryptocurrencies. Ready to get started? Tap here now to get the E-Book Completely Free! Please Share this Trading Strategy Below and keep it for your own personal use! Thanks, Traders! We specialize in teaching traders of all skill levels how to trade stocks, options, forex, cryptocurrencies, commodities, and more.

Our mission is to address the lack of good information for market traders and to simplify trading education by giving readers a detailed plan with step-by-step rules to follow. We want to share with you some important information about Trading Strategy Guides as we move forward to our goal to help 1,, Traders find a strategy that suites them best. We want you to fully understand who we are as a Trading Educational Website We will send out many free trading strategies for you to learn and apply to your trading system right away Our team gathers a vast amount of information and comes up with some of the simplest and easiest trading strategies to follow each week.

We are highly motivated to do this for you because we love helping people succeed who are serious about trading. Our Goals. The crypto Market is the highest market now.

You can be part of the people who are earning a living through trading cryptos. With just half a bitcoin, you can make up to 3 bitcoins in a week.

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. However, the only rule you need to abide by is to take profits during the first 60 minutes or the first hour after your trade got triggered.

Holding the trade longer than one hour will result in a lower success rate. 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. If you are interested in learning how to day trade cryptocurrency , be sure to equip yourself with enough information before diving into the market.

Making a living day trading cryptocurrency can be a lot easier due to the high volatility nature of the crypto market. High volatility suits day trading very well, so you have the right environment to succeed. You may also be interested in reading our guide on the Best Cryptocurrencies Investments for Please Share this Trading Strategy Below and keep it for your own personal use! Thanks, Traders! We specialize in teaching traders of all skill levels how to trade stocks, options, forex, cryptocurrencies, commodities, and more.

Our mission is to address the lack of good information for market traders and to simplify trading education by giving readers a detailed plan with step-by-step rules to follow. I am based in the UK How do i set default buying and selling levels from 80 to and respectively from 20 to 0? Nice strategy, I live in Nigeria, what time will be appropriate for me to trade?

And please, I really want to master the day trading, do you have more strategies to learn? Which MFI did you use in traderview and how do you change the default buying and selling levels from 80 to and respectively from 20 to 0?

I would love to speak to you by phone because this is complicated. Where do I get the charts that have the Money flow indicator. Are you using Binance or Coinbase?

Can we please speak by phone and you can charge to get me started please. My name is Lew and my is please call or give me a to call you.

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. 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:.

The Best Bitcoin Trading Strategy - 5 Simple Steps (Updated) Why Trade Bitcoin?

To me, Bitcoin and the other main cryptocurrencies are good for a different reason. They’re easy to trade – if you know what you're doing that is. Price moves are dramatic. May 07,  · The first step when looking at how to day trade cryptocurrency will require you to find a good exchange. A cryptocurrency exchange will allow you to buy and sell coins 24 hours per day. It is important to think about what kind of cryptocurrencies you are looking to get involved with. Sep 26,  · Day trading the cryptocurrency market can be a very lucrative business because of the high volatility. Since the crypto market is a relatively new asset class, it has led to significant price swings. Before day trading Bitcoin or any other altcoins, it’s prudent /5(). Tags:Bitcoin revolution auto trading scam, Bitcoin gold deposit yobit, Trading bitcoin ig, How to trade bitcoin kraken, Hipermarket mercator btc

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