Swing Trading Cryptocurrencies Explained Simply

With this strategy, the trader holds the assets for a period longer than one day. Usually, he/she makes one trade within 1 to 5 five days. But can keep the position open for more days or even weeks, benefiting from larger price fluctuations. Notably, this is the best strategy for beginners, as they can choose suitable time to exit a position. In order to make decisions, the trader focuses attention on daily and weekly chart patterns.

An interesting fact is that these traders do not sit and watch the charts all day. This is because the strategy depends on natural swings of price cycles. In addition, although a trader can use stop losses, they should not be tight ones.

Read more about different crypto trading strategies: https://decentralised.news/different-types-of-cryptocurrency-trading-strategies/

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