Best strategy for crypto trading

[Ararbermas]

Hello guys what's your best and accurate strategy when it comes trading crypto? because to be honest i've been learning and at the same time trying to trade live using common strategies such break out, trend line and some pattern that i know but seems not giving me a good win rate. Any suggestion or tips and what's your best strategy especially those who used to day trade? I'll appreciate your input guys.

[Husires]

What is your local/native language? The forum has a number of users who speak most languages, so try to speak using local language instead of trying to write in English, especially when you want technical advice.

Do not use Telegram for technical assistance, many scammers will try to message you.

[michellee]

I guess that depends on the coins because I only use a basic strategy to buy low and sell high. If the price is increased, I will not try to chase it instead calm down and wait for the next correction because sometimes, the correction can be deep than the last low price. It will not be easy to use daily trade in this situation because the market is difficult to predict. When the line is not increasing or decreasing much, you need to be careful because sometimes, the price will drop directly.

I think you can use the basic strategy like what I did but you need to pick the right coins for daily trading. Maybe you can use the strategy for bitcoin trading and not altcoin trading but you can try it.

[$crypto$]

This leads to daily trading I rarely do this because I'm busy and can't monitor market developments every day so of course I use common basic techniques with others but to do this strategy I certainly choose TradingView analysis to try trend lines and break outs but there are Many of the other techniques depend on the particular coin and can be seen from trends or pumps.

But if I didn't have the best strategy guide in the article on the trading board, I forgot to save it even though it's quite complete in the guide.

[palle11]

The best way to trade is to follow the the ways others are doing. Following the trend that is and to follow the trend you can follow the group or community of the coin you are trading on. Sometimes the group decide to pump the coins and you see everyone going for buy and other times the are dumping. You can also by yourself monitoring the movement of bitcoin because that also drives altcoins market.

[sunsilk]

The best for me is just to do the Dollar-Cost Averaging. It's not going to pressure you at all to trade but you're just going to keep on buying the crypto you think is good for stacking.

If daily trading doesn't work for you then you do the other strategies that might be effective to you and that's why I think DCA would be ideal for you. Based on what you've said, your win rate isn't that much. Doing this strategy requires your patience and this has been proven not just by me but the others as well.

[gabbie2010]

An hour before the start of the daily candlestick, I scan through a possible long or short trade based on how the previous daily closed, then picked the potential trading pairs this requires plenty hours of studying charting i.e hours of charting time, thereafter switch on to 15 minutes timeframe for a trendline break then place a trade, take profit after the price had move in my favor using breakout of bollinga upper band as profit taking zone or price moved 1.04***** based on based binance isolated margin trading calculations.

[Ararbermas]

I guess that depends on the coins because I only use a basic strategy to buy low and sell high. If the price is increased, I will not try to chase it instead calm down and wait for the next correction because sometimes, the correction can be deep than the last low price. It will not be easy to use daily trade in this situation because the market is difficult to predict. When the line is not increasing or decreasing much, you need to be careful because sometimes, the price will drop directly.

I think you can use the basic strategy like what I did but you need to pick the right coins for daily trading. Maybe you can use the strategy for bitcoin trading and not altcoin trading but you can try it.

yhup chasing price is a very dangerous way especially when it comes crypto because of being so volatile wherein reason it's getting unpredictable as well when analysing. And that's why i preferred retest than chasing price just to prevent a sudden drop of price because it's very common to be honest base on my experience trading crypto wherein mostly false break out. That's why i learned supply and demand especially support and resistance in order to determine which level the price will retest and breakouts..

[SquallLeonhart]

Hello guys what's your best and accurate strategy when it comes trading crypto? because to be honest i've been learning and at the same time trying to trade live using common strategies such break out, trend line and some pattern that i know but seems not giving me a good win rate. Any suggestion or tips and what's your best strategy especially those who used to day trade? I'll appreciate your input guys.

Best strategy is to keep up with your strategy. I know that it sounds weird right now, but you will soon realize that you actually need to do that.

Like it doesn't matter if you look at the BB or MACD or RSI or anything like that, if you switch up and decide to check some other way after not being in profit after a few tries, then you are going to be wrong for a few more tries and you will imagine that you will find a better one and keep switching or combining or anything and in the end you will find yourself in big trouble. Instead, just do the simple thing, buy crypto in DCA way when it is going down, and sell it when it goes up, that's it.

[Sled]

Hello guys what's your best and accurate strategy when it comes trading crypto? because to be honest i've been learning and at the same time trying to trade live using common strategies such break out, trend line and some pattern that i know but seems not giving me a good win rate. Any suggestion or tips and what's your best strategy especially those who used to day trade? I'll appreciate your input guys.

I'm not really good at trading, actually but there is one thing I've noticed upon trading is to find coins that are very active/hot in the market. I use Binance, I'd come to visit their site and see what is their promotion and updates as this becomes helpful to choose which coin is likely to top.
Well, of course...it was too good to look at their trade volume, total supply, and last is the price trend. Nothing had changed and to buy during the dip is very effective.

[GreatArkansas]

This is very difficult to answer as every trader got different tastes or ways how to do their trades.
But for me. Using multiple time frames, trading on breakout rather than catching the dips/pumps (catching falling knives).
Using multiple timeframes to confirm the price action, not only in 1 time frame, using higher time frame is also best idea to identify the market structure.

[CryptopreneurBrainboss]

The best way to trade is to follow the the ways others are doing. Following the trend that is and to follow the trend you can follow the group or community of the coin you are trading on. Sometimes the group decide to pump the coins and you see everyone going for buy and other times the are dumping. You can also by yourself monitoring the movement of bitcoin because that also drives altcoins market.

I disagree, you're likely to end up losing more than you will profit. Nothing good comes out of pumps and dumps. It has been observed that only the organizers and probably close peers profit from this scammy activities. You as a noobs probably will just be buying the top and later get dumped on. Avoid hype entirely as this same scenario occurs too. Take a good look at the coins that were hyped last year, they all are at a low price currently and most likely won't increase in value again or to the price they were few months back.

Best trading strategy has to do with you developing a system that works for you, I can't give you mine because it might not be productive for you either due to your financial status or lacking the skills to execute it. While you can learn from others strategy don't go try to be them, not everyone should be day trading etc.

[michellee]

I guess that depends on the coins because I only use a basic strategy to buy low and sell high. If the price is increased, I will not try to chase it instead calm down and wait for the next correction because sometimes, the correction can be deep than the last low price. It will not be easy to use daily trade in this situation because the market is difficult to predict. When the line is not increasing or decreasing much, you need to be careful because sometimes, the price will drop directly.

I think you can use the basic strategy like what I did but you need to pick the right coins for daily trading. Maybe you can use the strategy for bitcoin trading and not altcoin trading but you can try it.

yhup chasing price is a very dangerous way especially when it comes crypto because of being so volatile wherein reason it's getting unpredictable as well when analysing. And that's why i preferred retest than chasing price just to prevent a sudden drop of price because it's very common to be honest base on my experience trading crypto wherein mostly false break out. That's why i learned supply and demand especially support and resistance in order to determine which level the price will retest and breakouts..

I like to see a sudden drop from bitcoin and altcoin because that will be a good time to buy back more. Many times after the sudden drop, the price bounce up, even that can give more power to the price to break the last current price.

Buying during the dip will always be the best method to trade as we do not have to trade in a rush instead just trying to search for a good time to buy and sell. If we can do that, there is nothing to worry about. In these few days, I decided to watch the market moves, just watch and not place trading orders because I feel the market moves suspicious so I guess I do not have to force myself to trade.

[joeperry]

This is very difficult to answer as every trader got different tastes or ways how to do their trades.

This is true every traders have different strategies and perspective of what the chart gives, in my case I don't usually trade along the an uptrend or downtrend I wait for a pull back first and use a Fibonacci Retracement tool along with the MACD (to see momentum of the current trend) and use the RSI (to see if overbought and oversold). This is just a simple strategy but I find it effective most of the time at 1hr - 4hrs time frame.

[electronicash]

This is very difficult to answer as every trader got different tastes or ways how to do their trades.

This is true every traders have different strategies and perspective of what the chart gives, in my case I don't usually trade along the an uptrend or downtrend I wait for a pull back first and use a Fibonacci Retracement tool along with the MACD (to see momentum of the current trend) and use the RSI (to see if overbought and oversold). This is just a simple strategy but I find it effective most of the time at 1hr - 4hrs time frame.

i did it in the past but learned it's not very effective in day trading. Fibo and RSI will be a good indicator to have if you are for long-term trade. it will be tiring to watch the chart for a day seeing how slow the movement of price is.

to me, it will be a challenge to trade 1-4 hour chart in the spot market particularly in this semi bear market but you'd be profitable in futures derivatives if you know what you are doing.

[Fakhrulenclix]

it all depends on what trade you want to do, day trading or long term trading.
Of course, if you want to do long-term trading, you have to choose top coins to avoid the risk of losing if you choose new coins and for daily trading there are very many things that must be learned, both technical and non-technical, such as controlling emotions yourself not to be greedy or minimizing mistakes. and also for day trading there will be a lot of risk to be faced but it's all worth what you will get.
so whatever type of trade is carried out, of course the risk is still there, and now we as traders must be observant to see opportunities in taking profits and minimizing the risk of loss as much as possible.

[Maus0728]

@Ararbermas
Have you checked this subreddit^[1]?
[1] https://www.reddit.com/r/RealDayTrading?utm_medium=android_app&utm_source=share

This subreddit focuses on analyzing the market first before doing the actual technical analysis to determine when to enter and exit. Market first means that you are going to ascertain the directional bias of a certain asset by comparing it to the market leader, which in our case is BTC. The things is, most people on that subreddit primarily trade stocks and only few of them uses the strategy for crypto trading.

That being said, the name of their strategy is Relative Strength/Relative Weakness (RS/RW) vs SPY(BTC) whereas:

A crypto is showing signs of Relative Strength if:
- BTC goes up, ABC crypto is going up as well.
- BTC is flat (sideways), ABC crypto is going up
- BTC is down, ABC crypto isn't that much affected

Relative Weakness if
- BTC goes up, ABC crypto is'nt showing strong uptrend.
- BTC is flat (sideways), ABC crypto is going down
- BTC is down, ABC crypto is exponentially going down.

[pinggoki]

For me, I only follow two things, buy low and sell high which is kind of cliché but it is what it is and watch the Fear and Greed Index and move accordingly. These two things helped me get some profit even though I don't trade full time and I just pop out and buy or sell whenever the movement in the index and he prices match what I want to do.

[ChrisPop]

If there were a strategy that works just by inputting a few parameters everybody could use it, but trading is a much more complicated endeavour. I know it probably sounds like a clichee, but it really is up to you to make a strategy work. It is about starting with thesis and then optimizing it through many iterations. Notice what works and what doesn't, improve where possible - only use tools that bring your strategy value aka do not have indicators plotted on your chart just for the sake of looking complex.

[rijaljun]

I don't think there's a precise or accurate strategy but I believe in consistent wins from a trader. A professional trader does not stick with one strategy and uses a lot of strategy to make profit and the accuracy is not based on the strategy he use but the wins he has in the trades so there's no best strategy and no accurate strategy.