What are your most effective crypto trading strategies?

[Sanitough]

6: What advice do you have for new traders who are just starting out
(....)

There is a lot of advice or must TODO when you are just starting out. I can give you some importants;
Start small - try a small amount of capital to try your first few trades.
Practice on demo exchanges - there are some exchanges that got demo trading, which means you don't need real money.
Risk management - know the risk, know how much are you willing to lose, and know how much you will win on every trades, always set stop loss and price target.

In addition to this, new traders should know and understand what they are about getting into that it is something that has the power to make them richer or poorer, with emphasis on poorer. The idea some new traders have is that as soon as they begin trading, they will   immediately start making profit, we all know it does not work that way. New traders eed to know that if they are skillful enough they can make more losses than profit in trading.

That is the reality in trading. Even professional and skilled traders are not an exception from losses. It’s either they have to deal and manage it, or leave trading for good. Also, trading will never be successful if you are battling with your emotions. At least, you should know how to control your emotions, otherwise all your efforts and  capital will go into waste.

[1715480977]

1715480977

[1715480977]

1715480977

[1715480977]

1715480977

[1715480977]

1715480977

[Lida93]

Crypto trading is one journey that needs a lot of critical thinking and one need to always be ahead and alert in terms of decision making  towards any coin he chooses to trade in. But more importantly, you need to kill fear while trading, particularly the fear of making losses as trading is inevitable to traders both acclaimed professionals or learners. The only thing is that we all try to mitigate it making sure our profits outshines our loss.

Combining fear with trading can only make a trader incur more losses as he could out of refuse to key into a trading opportunity that would have earned him some profits only because it didn't really appeared to have  some potential, only to end up falling into the wrong trade.  And this would keep on happening as long as fear isn't killed in a trader's life.

[Russlenat]

Crypto trading is one journey that needs a lot of critical thinking and one need to always be ahead and alert in terms of decision making  towards any coin he chooses to trade in. But more importantly, you need to kill fear while trading, particularly the fear of making losses as trading is inevitable to traders both acclaimed professionals or learners. The only thing is that we all try to mitigate it making sure our profits outshines our loss.

Combining fear with trading can only make a trader incur more losses as he could out of refuse to key into a trading opportunity that would have earned him some profits only because it didn't really appeared to have  some potential, only to end up falling into the wrong trade.  And this would keep on happening as long as fear isn't killed in a trader's life.

Fear is part of your emotions so while emotions is the best enemy in trading, being fearful will eventually make you lose in trading. So turn into fearless instead and learn to manage the risk so you can reduce as well the risk of losing. And bear in mind that trading has its inevitable losses, so always trade an amount that you are not afraid to lose, that is if you want to last longer in trading industry.

[AnonBitCoiner]

As compared to trading investments will be more beneficial and will have less risk so for the management of risk it is necessary to wait little bit for the market to recover back to higher cost then you can operates your activities therefore in this case you will be able to enhance money and reduce risk.

I think one should not copy others because once you invest money you will be able to learn from your own experience so try to use your own experience and mind and think that the step which you going to take is right for you or not and also don't allow your emotions to develop because it can effect your success.

[gabbie2010]

4: How do you deal with market volatility and sudden price swings?

I'm going to say this should not be a problem to a crypto trader who is using stop loss strategy. It is very good to add such to trading strategy because it takes away fear of losing all out when the price swing against your position. So this is an advise also to the newbie and it cut across most of the questions you have asked. No matter how good your strategy is, it is risky to trade without stop loss.

Though when placing a Stop Loss the trader should consider the volatility of the price because placing a Stop Loss very close to the entry price is very risky because the price might reverse and hit that Stop Loss before moving towards the actual trend, therefore it's always advisable to place a Stop Loss far from the entry price after calculating the total risk of the trade, thus the importance of placing the Stop Loss cannot be overemphasized because it protect a trader portfolio or account from liquidation especially crypto trading pairs which has a very high volatility rate.

[irhact]

Combining fear with trading can only make a trader incur more losses as he could out of refuse to key into a trading opportunity that would have earned him some profits only because it didn't really appeared to have  some potential, only to end up falling into the wrong trade.  And this would keep on happening as long as fear isn't killed in a trader's life

A trader that doesn't have control over their emotions shouldn't not be trading as that emotions will keep making him to lose in the market. A trader shoudn't be fearful of the market. We have many traders making profit from the market so why are you been scared of the market. If you're not only guessing and you're doing your analysis properly, you should defeat the market regularly.

As a trader, you should be able to adjust to multiple trading strategy as they work in different times of the market. The strategy you're using when the market is bullish, you can't make use the same strategy when the market is in a bear season because the market isn't pumping.

[Zilon]

I have always learned to keep it simple and that simplicity is just support and resistance, No matter which drawing tool I use on my chart either trend line, SMA, S$R I just ensure my major candle stick forms at a good support so I can buy or it forms at a resistance so I can sell, Secondly I avoid chasing after trades that have gone pass the support or resistance zone to avoid been trapped, Crypto trading is one investment that tests patience, discipline, devotion to trading plan and technique so I try to implement all and it has helped my trades.

[taufik123]

I have always learned to keep it simple and that simplicity is just support and resistance, No matter which drawing tool I use on my chart either trend line, SMA, S$R I just ensure my major candle stick forms at a good support so I can buy or it forms at a resistance so I can sell, Secondly I avoid chasing after trades that have gone pass the support or resistance zone to avoid been trapped, Crypto trading is one investment that tests patience, discipline, devotion to trading plan and technique so I try to implement all and it has helped my trades.

A trading plan is a must and should not be violated, but when you say that you only use Support and Resistance as the main reference, then you also need to mention whether you use short-term, mid-term, or long-term trading methods.

Technical and Fundamental analysis will be equally important to know, I use a combination of RSI, MA, and some other indicators to know how the market is moving.

and remember that psychology will also be very influential.
No matter how well you trade if your psychology is not good then all trading plans will not work properly.
So the combination of everything is very important not just support and resistance.

[TelolettOm]

A trader that doesn't have control over their c shouldn't not be trading as that emotions will keep making him to lose in the market. A trader shoudn't be fearful of the market. We have many traders making profit from the market so why are you been scared of the market. If you're not only guessing and you're doing your analysis properly, you should defeat the market regularly.

Controlling emotion is a must, a trader has no ability to deal with the market situation if he can't control emotion. Crypto market is unpredictable, it can easily change in a short time. Not everyday crypto market is green, sometimes it turns into a red market. If someone trades with emotion, he probably easily sells for losses. When the market trends change, he will panic selling.

It is true that there are many successful traders but it doesn't automatically make us succeed as well. However, we can make it as our inspiration to do harder efforts. It also ideally triggers us to believe that there is a real chance for making profits through trading.

As a trader, you should be able to adjust to multiple trading strategy as they work in different times of the market. The strategy you're using when the market is bullish, you can't make use the same strategy when the market is in a bear season because the market isn't pumping.

Agree. We can't rely on 1 trading strategy only. 1 strategy may not be suitable for a different market condition. When the market is green, I prefer to use day trading. While the market is red, I prefer to use scalping trading. This is just 1 example of using a different strategy in a different market situation.  

[BRINIRHA]

I have always learned to keep it simple and that simplicity is just support and resistance, No matter which drawing tool I use on my chart either trend line, SMA, S$R I just ensure my major candle stick forms at a good support so I can buy or it forms at a resistance so I can sell, Secondly I avoid chasing after trades that have gone pass the support or resistance zone to avoid been trapped, Crypto trading is one investment that tests patience, discipline, devotion to trading plan and technique so I try to implement all and it has helped my trades.

Well, maybe everything will be a little simpler if done by an experienced trader. and it looks like you also have a lot of experience in trading. I personally am sometimes still confused in reading every chart pattern that is formed. And in the end I also prefer not to complicate my analysis in trading. In fact, sometimes I just observe fundamentally and see trends that are happening in the market and I follow them. as long as I'm not greedy in taking profits I'm feeling fine with my current trading strategy. But I always avoid trading when there are economic release events or on certain days where there are activities around meeting schedules regarding interest rate hike decisions or the like. because I think at times like that the market always gets more aggressive than usual.

[so98nn]

I cannot say that I regularly use the same strategy. It is important to understand that the market is as dynamic as possible and this regularly requires that strategies need to be changed and revised.

Yes, the market can be dynamic, but you must surely have different approach, or you can call it a strategy, that you apply most of the time to maximize profits. So what could it be? I know that as a trader, one can have several strategies to try out depending on the situation of the market, so the OP suggests what that strategy is; even if it's many, what are the few you can share, and how do you maximize profit with it? However, there are two types of cryptocurrency trading, such as futures trading and regular sports trading, that are mentioned in some centralized databases.

Regular sports trading could be a misleading name in the world of the stock market or crypto market. I think what are you mentioning is simple buy/sell, not sure why you called it "sports trading". However, crypto's volatility has been the son of the gun all the time, and extensive technical analysis can make you profits but not with full confidence.

The other day I tried to do a simple buy/sell trade when BTC was around 29K, by the time I thought I am gonna make a profit on this purchase, my trade charts were upside down, and I ended up having my bitcoin at 27K now. Imagine the losses with a small amount that I purchased and its ratio with the bigger volume change.

So that is that. It's volatility can make you suffer. So if not trained properly then its always better to HODL and keep it straight.

[judaspriest]

I've lost -90% more than altcoins because of hold, and indeed the hold strategy for the bearish season will get us down and I did,
and now 10% of my capital really I have to double it by using scalping strategy and accumulated token amount in order to be able to recover quickly when it's bullish,
because I did it in 2018 when bearish came, and unfortunately the situation is the same now.

[karabiber]

Crypto trading is one journey that needs a lot of critical thinking and one need to always be ahead and alert in terms of decision making  towards any coin he chooses to trade in. But more importantly, you need to kill fear while trading, particularly the fear of making losses as trading is inevitable to traders both acclaimed professionals or learners. The only thing is that we all try to mitigate it making sure our profits outshines our loss.

Combining fear with trading can only make a trader incur more losses as he could out of refuse to key into a trading opportunity that would have earned him some profits only because it didn't really appeared to have  some potential, only to end up falling into the wrong trade.  And this would keep on happening as long as fear isn't killed in a trader's life.

Fear is part of your emotions so while emotions is the best enemy in trading, being fearful will eventually make you lose in trading. So turn into fearless instead and learn to manage the risk so you can reduce as well the risk of losing. And bear in mind that trading has its inevitable losses, so always trade an amount that you are not afraid to lose, that is if you want to last longer in trading industry.

If you are afraid of losing, you will suffer more losses. It is not possible to develop smart strategies without losses in crypto. I think the key to this is patience. If you don't get into crypto with your last money or some money you need you should be patient. Maybe you have to be patient for one year, two years, three years and you will definitely get the return of your investment. The trick is not to invest blindly. Profiting in the crypto markets is simple if you invest wisely and be patient. That's when you won't be afraid even if you experience loss

[LUCKMCFLY]

Well, volatility is something difficult to measure, but I believe that one can make a type of strategy based on the news and on intuition, because volatility has a lot to do with those impulses that operators,media, and institutions have about as is the world scheme, and it depends on it if they are in a good moment to inject more money into bitcoin or consequently sell quickly in panic,as happened in 2020 when covid19 came out, which was a devastating fundamental for the market of btc and for all speculative markets.

I frequently wonder where all these major projects would circulate their up and down movement if Volatility did not exist. Our strategy always matters interms of dealing with the market, knowing the perfect strategy for each season. The market cannot be stable, even for a single day; the only sign that the market is inert is total consolidation. Volatility is what keeps our liquidity fueled and the market moving. It's always a really tight lane to be watching bitcoin drop heavily and looking for solid entrances at that point. Bitcoin has the ability to influence the market in both bull and bear directions; it all depends on what we actually desire in the market.  

Yes, indeed, what apsa is that many people who know the different projects do not think that the most important thing of all is that bitcon is the boss here, there is no other way to do it, if they were clear that things could be different when bitcon is in a bullish trend than in a bearish trend, the Projects would be very good and successful, the investors would be very millionaires, because if what happened in 2017 when the Altocins season was activated,things would be different, but in this order of ideas is Difficult but not Impossible.

When it comes to trading strategies then it would really matter on each person and there's no such thing about being effective or not because there's no such thing about precise tools and indicators which would really still give out that kind of question when it comes to effectiveness. There's no way on pointing out and this is why it would really be a never ending kind of search and test out of different
strategies on different price or market conditions. This is where you would really be making out speculation and risk taking on whenever you do decide on taking up some decision on buying in or selling out.You are the ones who would really be finding out on those trading ways and methods which would really suit out your ways of trading or dealing with this market.

Of course things are as you say, but seeing that the market is also very different now, things are beginning to move in other ways, first of all the technological tools have helped a lot so that they can see themselves better , in the case that I have seen In some platforms, I am in a group that is free trading, where a trader is offering us his techniques thanks to software , what happens is that I have not been able to try it, but it is very good and it is giving excellent results, Then it would be a matter of continuing to operate to see how much it can give , to begin with it is with little money with the equivalent of 10 dollars, so far I have been able to do a little more than 2 dollars in 4 operations , it is not much but I think it is Significant .

[bitgolden]

When it comes to trading strategies then it would really matter on each person and there's no such thing about being effective or not because there's no such thing about precise tools and indicators which would really still give out that kind of question when it comes to effectiveness. There's no way on pointing out and this is why it would really be a never ending kind of search and test out of different
strategies on different price or market conditions. This is where you would really be making out speculation and risk taking on whenever you do decide on taking up some decision on buying in or selling out.You are the ones who would really be finding out on those trading ways and methods which would really suit out your ways of trading or dealing with this market.

Of course things are as you say, but seeing that the market is also very different now, things are beginning to move in other ways, first of all the technological tools have helped a lot so that they can see themselves better , in the case that I have seen In some platforms, I am in a group that is free trading, where a trader is offering us his techniques thanks to software , what happens is that I have not been able to try it, but it is very good and it is giving excellent results, Then it would be a matter of continuing to operate to see how much it can give , to begin with it is with little money with the equivalent of 10 dollars, so far I have been able to do a little more than 2 dollars in 4 operations , it is not much but I think it is Significant .

I think seeing free one is still better than paid one, they might be wrong too but at least they are not taking any money from you so that's a good thing. There are a lot of people who also do free but then they end up taking money from people and that's why I dislike it so much.

I think it is quite important that we should be seeing this from another stand point, it should be reaching to a point where it is going to be a lot more important and people should not be this worried about it. I get that it is not going to be simple and we are not going to get mentors who help us make money, but at least not paid people to do that because it will suck when you do not make a profit and you realize they just stole your money and that's how they make money.

[ScamViruS]

There is no strategy that would always give a uniquely positive result. Very often the market requires different approaches in the process of work.

This is most important. The market does not always move in the trader's predicted favor, and those traders who can make the right decisions in those unpredictable moments can profit from the market. Sometimes there are situations created in the market which seem unusual to ordinary traders, but to experienced traders it seems like a great opportunity. Because traders who take trades after using experience and patiently observing the market, their money management is also very strong.

[jossiel]

There is no strategy that would always give a uniquely positive result.

But if there are strategy that's good and working for you, you do it repetitively until you're no longer see a success on it.

Very often the market requires different approaches in the process of work.

While it's true that approach in the market differs a lot. Like if we're in a bull run, the strategy changes. And the same goes with the bear run, the strategy that you have to come up must change as well. So, if you do something good and it's effecient to you, no need to change anything.

[mvdheuvel1983]

Questions to consider:

1: What trading strategies have worked for you in the past?
2: How do you manage risk when trading cryptocurrencies?
3: What are some indicators or tools that you use to inform your trading decisions?
4: How do you deal with market volatility and sudden price swings?
5: How do you set your buy and sell orders?
6: What advice do you have for new traders who are just starting out?

In trading world there’s always something to learn, it is very important that you calculate how much you are risking rather than just increasing and decreasing leverage . It is therefore paramount that you are able to study risk management before opening your position. That is why for scalping you need calculation. If you go for a 2.1 ratio which doesn't make sense to me. Even if you win the trade you would need more practice to understand risk management. And instead you can open a short position or can wait for a reversal.

[Hamphser]

There is no strategy that would always give a uniquely positive result. Very often the market requires different approaches in the process of work.

This is most important. The market does not always move in the trader's predicted favor, and those traders who can make the right decisions in those unpredictable moments can profit from the market. Sometimes there are situations created in the market which seem unusual to ordinary traders, but to experienced traders it seems like a great opportunity. Because traders who take trades after using experience and patiently observing the market, their money management is also very strong.

There's always a significant difference in between a newbie/amateur trader compared to those professionals or veterans on this market. When it comes to opportunity seeking then those experienced ones would

really be able to easily spot out the best time to get in which it is something opposite into those newbie ones on which they might even have the impression on panic selling on that time specially when the market does have that huge correction.In overall, it doesnt matter whether you are new or old on which we are all speculators on here, there's no way that someone could be able to predict the future but somewhat
having the experience and knowledge would really be giving out that advantage compared into others.

This is why on the time that you would really be dealing with this market then better to make yourself get ready or prepared for whatever conditions you would be able to
to encounter in and expect that it wont really be ever simple.

[Bitcoin_people]

Cryptocurrency trading is not for everyone only those who are experienced can succeed in trading. Especially those who have in-depth knowledge of the market and have acquired good knowledge of crypto and trading strategies stand to benefit. But there are many newbie traders who have no idea about the market and want to invest with the risk of losing their money later. A new trader needs to adopt various strategies to trade in the first stage. He needs to know about the volatility of the market and it is important to know when to invest in the market and get good profit. There are many other strategies which are important for trading so all those strategies should be adopted. And after knowing about the position of the market and the details, it is definitely possible to profit from the business if you trade later.