Learning About Cryptocurrency Trading
As the cryptocurrency market continues developing, many people are willing to learn and earn crypto trading. To understand how this market works, you need theoretical knowledge and a lot of practice. In this article, we will talk about how to learn crypto trading and what crypto exchanges to use for it.
Crucial Things About Trading
Successful crypto trading requires an understanding of how this market works. For that purpose, you should analyze digital assets through their technical features, read charts, and find price indicators and patterns.
Another important thing is picking a digital asset for trading. The high volatility of digital coins allows them to grow in value quickly when the market grows. That is why it is better to pick crypto assets of high and middle market capitalisation. Mid-cap coins such as LINK are more sensitive to market trends. The LINK price
is $5.98, and the market cap exceeds $3. It is a good asset for trading.
There are several popular trading techniques:
• You can take advantage of every slight price fluctuation and generate income in small portions many times a day using the scalping strategy.
• You may open and close your position within 24 hours, which is called intraday trading.
• You may take more time for thinking and close the position in a few weeks after opening it - swing trading.
• You can invest long-term and hold assets for months - position trading.
Picking a strategy and adhering to it is crucial for successful trading. Another important top for trading is diversification - you should not invest all your money into one crypto asset but buy many large and low-cap coins. Never allow yourself to be guided by emotions - take decisions with a cool head. Never be guided by greed, and better take profit on time, according to your strategy.
Crypto trading learns discipline and weighted decisions. You can learn and earn crypto on the WhiteBIT platform. It has its own blog with many helpful beginner guides on trading and interesting articles and market news. To practice trading strategies, use the WhiteBIT demo account, where you can polish your skills and knowledge along with studying without risking your own funds.