Introduction
Millions of new investors began trading cryptocurrencies. Of course, as with any investment vehicle, there are many different trading strategies, so it’s important to identify which one suits you best.
.jpg)
To be successful in the world of cryptocurrency trading you must know the market very well, but above all, you must know yourself. Perhaps this is even more important than knowing the market, and your future in the world of crypto may depend on this level of self-honesty.
In general, there are four types of cryptocurrency traders based on the time they take between the opening and the closing of an operation (between buying and selling or vice-versa). You can combine two or more strategies, but the important thing is to know how to distinguish them and the differences in each one. From shorter to longer times, the types of trading are:
Scalping
Scalping is a type of cryptocurrency trading which is based on buying and selling almost instantly. It is perfect for those looking for a fast trading style. The scalper does not take his eyes off the screen, seeing the variations in real time. These trades typically don’t last more than 5 minutes.
This type of trading requires a lot of leverage to obtain considerable profits, and it involves opening and closing many operations on the same day. The idea is to bet a lot of money to get very little profit but in a brief time.
The analysis of trends is not very important in this type of trading because short-term predictions are less accurate. If you are a scalper, you must know how to make quick decisions. You cannot “get attached” with a coin, and you must be very strict with your limits of Take-Profit and Stop-Loss.
Day Trading:
Day trading is a short-term trading strategy that consists of opening a few positions at the beginning of the day and closing them at the end. This way, there is a greater range of action and a quieter period of operation, controlling the risks of leaving a trade open for a few days and suffering a change of trends by an unexpected event. i.e., if you live in the United States and leave a position open, bad news from Asian governments may cause a fall while you sleep. In the same way, some good news may generate an increase, but at the end of the day, what matters to the Day Trader is having control over the information.
The most common candles daytraders operate with are candles from 15 to 30 minutes. Sometimes they observe 4-hour behaviors to see if their trading is part of a trend.
They use indicators and technical analysis. The most recommended ones are the MACD and the RSI.
Swing Trading:
This is the most common type of trading in the cryptomarket. Generally, because of the significant volatility of altcoins, traders buy a currency and then change it to USD, BTC or ETH only to buy another altcoin and thus maintain their wave of profit (most altcoins are quoted mainly against Bitcoin).
Swing trading cryptocurrencies consists of opening trade and leaving it for a reasonable period of time, from hours to several days. They generally use candles from 12 hours onwards with other essential indicators. One that is not usually missing is the volume of the market. The use of technical analysis is of great importance.
The most common indicators are the MACD, RSI, Stochastics, however many prefer to use other signs that provide a more general view of market behavior: Fibonacci Regressions, Gann forks, Bollinger, EMAs, etc.
Position Trading:
Position trading is a trading strategy that is more “investment” than “trading.” It consists of opening positions and leaving them for several weeks to years. It requires extensive knowledge of aspects beyond the technical ones. Long-term investors are willing to take a significant amount of risk in favor of the possibility of making a considerable amount of profit.
An in-depth study is necessary to know the reliability of each move that is made, for this reason beyond the technical analysis, traders must continuously apply fundamental analysis studies.
The most common candles studied go from 1 day to 1 month depending on how willing investors are to maintain their position.
But above all, as serious as the trading world may be, make sure you enjoy your trip.
About BitcoinBing
Almost all exchanges are put together to get profits as soon as possible. This approach has caused basic deficiencies in the structure of their operations. The Bitcoinbing platform takes more time for development, with specific objectives to ensure that the user experience does not deteriorate when user volumes increase on the platform.
The Bitcoinbing team uses years of experience in cryptocurrency and design, with this collective effort enabling us to build platforms that maintain uniform standards for user experience, with the capacity to withstand heavy transaction loads and enormous fluctuations. As a result, we faced a number of problems in the earlier phases of development that were slower, but this is what gave Bitcoinbing important operational advantages in practice.
Our Vision
BitcoinBing’s vision is to raise the standard of expectation across the industry and to deliver a world class experience with an exceptionally powerful trading engine, active platform development and a customizable interface. We are tackling issues that span the industry and our platform is dedicated to the user base. Bitcoinbing is a balancing participation in the blockchain space and accelerating mass adoption. This project is focused at optimizing the trade with induction of cryptocurrency and blockchain. It is an endeavor to usher the world into a secure and reliable system. Bitcoinbing will secure the interests of its users in all aspects. Its motto is to ease the way people make their transactions today. With peer-to-peer architecture, this platform will neutralize the profit for every user.
The onsite Bitcoinbing matching engine has a phenomenal transaction processing capacity that can handle up to 1,000,000orders/second. Bitcoinbing users are spared from the trouble of waiting for their orders to get out of a queue which in some instances can take days or even weeks to process. This platform offers all the services that a typical exchange provides such as spot trading, margin trading, anonymous instant exchange and decentralized exchange.
In addition to that, it also offers the ability to conduct over-the-counter and peer-to-peer trading of fiat and cryptocurrency in a flexible and secure manner. In Bitcoinbing, users signify what cryptocurrencies they have and what exchange rate they are willing to sell with, and other users respond to them and negotiate until an agreement is reached. Upon doing that, a smart contract is agreed stipulating how much is to be exchanged on both sides, how the transfer of value is to be made, and within what time frame these events are to take place. In order to ensure that users are not cheated of their money or otherwise discomfited, a rating and review mechanism exists for each year to gain onsite trust ratings, which helps users in making critical decisions about who to do business with.
Bing Token
Bing token is Bitcoinbing platform’s native token which gives traders zero trading fee, when using it to pay fee for trades made on Bitcoinbing exchange. This mean that Bitcoinbing raised capital, launched with a functional product and instantly had a practical utility to benefit users. A utility token is a functional token that, through smart contract programming, can be utilized in many different ways. In case of Bing, it can be used to pay for services within the platform as well as with zero trading fee.
- Bing tokens are utility tokens.
- Revenue shared features will be added in future.
- Bing tokens can be used to trade other cryptocurrencies.
- Value of Bing tokens may rise as the volume of trade increases on the exchange.
- Great way to diversify your crypto portfolio.
PreICO dates: 15th Sept to 30th sept
ICO dates: 1st Oct to 14th Nov
Roadmap
Team
Ambassador
More Informations:
WEBSITE: https://www.bitcoinbing.io
Bitcoinbing ICO: https://www.bitcoinbing.io/register.php
ANN thread: https://bitcointalk.org/index.php?topic=5037403.0
WHITEPAPER: https://www.bitcoinbing.io/bitcoin%20bing.pdf
Twitter: https://twitter.com/BingBitcoin
Facebook: https://www.facebook.com/Bitcoinbing-228650464472887
Linkedin: https://www.linkedin.com/company/bitcoinbing
Telegram: https://t.me/bitcoinbingMy profile bitcointalk: https://bitcointalk.org/index.php?action=profile;u=981947