I specify Crypto trading because I have never traded anything else before, the crypto market is like my second home. The market to me is a never ending battle, an arena of sorts where blood is spilled daily and the victors gain the sweet sweet reward of dollars. Its like a global game where people strategize against one another to take the others dollars.
The first enemy in trading is not those you are trading against it is one's self, you're very emotions are what play against you you're very fears and anxieties. The second you make a sell or buy based on these primitive feelings you have more then likely made a mistake, the choices you make should be from a calm, cool and calculative place. You should never trade outside the rule sets of whatever strategy you are using. The hardest part of any trading strategy of any kind of market is an exit for profit and a stop loss, so you should put you're focus on these two things more then your entry. Finding a time to enter a trade is simple, yet so many seem to be far too focused on it as if this is where the profits come from.
This is a very simple strategy I have used since I started trading (not that I always use it), you find the most likely support and resistance levels and mark them with lines. This is where you will enter or sell, the stop loss will trail behind your trade at no more than a 15% loss. Once the first resistance level is broken if you follow the trailing stoploss method here you will always exit in profits. I have used this on the 1 and 4 hour time periods, if this can be done on any other periods I am not certain you are more then welcome to try and do let me know how this works for you in the comments.
The more times the candles touch the line the stronger you should consider this price level being either a support or resistance level. You could even throw a fixed period of volume on there to help further your certainty of the levels you choose to be the strongest support and resistance levels.
If there is high amount of volume at or near the levels marked you know if history is to repeat it's self as it normally does, you know at X level you will see high amounts of buying and selling. This is not necessary, but some may or may not find it helpful.
On a last note always remember to be taking some kind of profits the whole time you ride a bullish period anything can and will happen in a perpetual market such as this. Always follow this methodology and you will make dollars, "Buy the fear and sell the greed" do not trade as if you can predict the market, trade as if you're strategy is going to be correct enough times in order for you to profit.
Disclaimer:
Crypto Republic is a friendly discord server who's purpose is helping people interested in crypto currencies to learn and grow income from cryptocurrencies, our server is a place for new, moderate and experienced crypto investors to meet, talk and exchange ideas, tips and experience.
we provides our own ideas, not financial advice. derived from in depth research