Trading News with a Focus on Trading Strategies for Cryptocurrencies

Cryptocurrencies have been dominating the news markets for some time now, and very few people have not heard of Bitcoin, Ethereum, and the many varieties of this new currency. What exactly is a cryptocurrency? If you are a beginner to trading in a new currency, you will need to be informed, and have a game plan, before you dip your toes into the water. If you are already in the know and are well-informed about trading in cryptocurrencies, then chances are, you’ve already used a trading app, read the trading news, and are familiar with chart analysis and tools. However, are some more trading strategies, that allow for a potentially profitable outcome.

The Breakout Day-Traders Strategy

Entry and exit points are what this strategy is about, that you implement when the price reaches a certain level of increased volume on your chart. It is called the long position when the asset breaks above resistance. The short position is when the asset breaks below support. Keep track of the assets support and resistance levels. These are both essential points for entry and exit purposes. Taking your assets most recent performance, you should be able to create a target, by calculating the average most recent target swings from your chart indicators. You exit when the goal of three points over the previous price swing has been reached. Enjoy your profits.

The Scalping Strategy

This strategy is mainly used in the forex market, where the quantity of tiny price changes drives this market. It is risky and very fast paced, so should be left to the pros; it is too dangerous for beginners, as this strategy depends on volatile markets and timing, in and out, to make profits. So as you can see, there are profits to be made in using good strategies with cryptocurrencies, if you have taken all the factors into consideration, and studied your charts of the market trends.