Without high levels of liquidity you can lose a couple percent both on the entry and exit of cryptocurrency trades, not to mention more on the fees be them network or exchange commissions , which really can destroy your profit and make you at a huge disadvantage. As covered above really any cryptocurrency in the top 50 or that has been there in the past is a candidate for swing trading, however there are some that are consistently better than others.
Here are our favorite cryptocurrencies that are good swing trading candidates in no particular order:. Chainlink LINK is an oracle platform which is an intermediary between smart contracts and real world data.
Currently Polkadot DOT is one of the most undervalued projects in the market in our opinion, but more importantly for swing trading is that Polkodot freuqnelty goes through long consolidation periods lasting many months, while at the same time not being strongly correlated to the general crypto-market.
Cardano is another project that goes through long periods of consolidation similar to Polkodot, but unlike Polkodot Cardano has a much stronger community behind it. These are a must-mention when it comes to swing trading — they boom and bust constantly, and when they move they really move.
If you can handle the volatility they have the potential to give nice returns on swing trades. Both coins started out as jokes, but quickly became beloved among traders and degenerate gamblers, making them great for swing trading. All these things make Monero a great cryptocurrency to use for swing trading.
Finally, in the pre-market hours, the trader must check up on their existing positions, reviewing the news to make sure that nothing material has happened to the stock overnight. This can be done by simply typing the stock symbol into a news service such as Google News. If there is material information, it should be analyzed in order to determine whether it affects the current trading plan.
A trader may also have to adjust their stop-loss and take-profit points as a result. Market hours typically a. EST are a time for watching and trading. Many swing traders look at level II quotes , which will show who is buying and selling and what amounts they are trading.
Those coming from the world of day trading will also often check which market maker is making the trades this can cue traders into who is behind the market maker's trades , and also be aware of head-fake bids and asks placed just to confuse retail traders.
As soon as a viable trade has been found and entered, traders begin to look for an exit. This is typically done using technical analysis. Many swing traders like to use Fibonacci extensions , simple resistance levels or price by volume. Ideally, this is done before the trade has even been placed, but a lot will often depend on the day's trading.
Moreover, adjustments may need to be made later, depending on future trading. As a general rule, however, you should never adjust a position to take on more risk e. Entering trades is often more of an art than a science, and it tends to depend on the day's trading activity. Trade management and exiting, on the other hand, should always be an exact science. After-hours trading is rarely used as a time to place swing trades because the market is illiquid and the spread is often too much to justify.
The most important component of after-hours trading is performance evaluation. It is important to carefully record all trades and ideas for both tax purposes and performance evaluation. Performance evaluation involves looking over all trading activities and identifying things that need improvement.
Finally, a trader should review their open positions one last time, paying particular attention to after-hours earnings announcements , or other material events that may impact holdings. Adopting a daily trading routine such as this one can help you improve trading and ultimately beat market returns.
It just takes some good resources and proper planning and preparation. Trading Strategies. Career Advice. Trading Skills. Swing Trading. Your Money. Personal Finance. Your Practice. Popular Courses. Trading Strategies Swing Trading. Part of. Guide to Swing Trading. Part Of. Swing Trading Introduction.
Swing Trading vs. Other Types of Trading. Swing Trading Strategies. Table of Contents Expand. Table of Contents. Market Hours. After-Hours Market. The Bottom Line. Key Takeaways Swing trading combines fundamental and technical analysis in order to catch momentous price movements while avoiding idle times. EST to do pre-market research, then work up potential trades after absorbing the day's financial news and information.
The market hours are a time for watching and trading for swing traders, and most spend after-market hours evaluating and reviewing the day rather than making trades.
It has a goal to change the way of transactions for goods using this innovative technology. Visit Bittrex. Polonies is a rapidly growing cryptocurrency exchanging platform that has almost doubled its customer and monthly traffic. The highest exchanging volume for altcoin has made it popular among traders and investors.
You can transact almost any cryptocurrencies, and lower trading fees are also well-known, which is below 0. Get Poloniex. Visit CEX. You can exchange your digital asset using just an email, and there is no need to submit any government-issued ID. Besides, the advanced platform has also enhanced the experience for investors and traders. Visit Changelly. This crypto trading platform in Canada has a reputation for being the most responsive and fast platform for processing crypto transactions.
Although the service is limited only to Canadians, the number of traders is pretty high. Direct customer service and secure activation of user accounts are responsible for the rapid growth of this platform. Visit Bitbuy. It offers hassle-free trading as a crypto trading platform as you do not need to open an account. None of your transaction data is stored in the database, although Changenow assures your safety. It also breaks the boundary of the exchanging limit, which sets a high standard for the platform.
Visit Changenow. Shapeshift is claimed as the best crypto trading platform by so many investors and tradespeople worldwide. It maintains more than cryptocurrencies, and a free account is required to start transacting. The convenient platform is uncomplicated to utilize, and you can transfer your money quickly to the receiver. Visit Shapeshift. Bitstamp is operating as one of the leaders in the industry of cryptocurrency. They are already enough matured to provide better service and ensure protection.
Besides, the ability to cash out directly to your bank account and no withdrawal limit have helped it possess its position for a long time. Visit Bitstamp. As a major crypto trading platform, Coinmama has been operating in the industry since It focuses on the ever-changing development process to render the best service for the traders. You can buy Bitcoin, Ethereum, Ripple, and other demanded cryptocurrencies, and there is no need to deposit.
You can instantly start trading once your account is verified. Visit Coinmama. This is one of the most flexible cryptocurrency trading sites. It uses an open-source and peer-to-peer network for exchanging your national currencies with the crypto.
As no account is required, you can access it anytime and start trading. If you are not sure about disclosing your identity, then you can try this platform. Visit Bitsquare. LocalBitcoins is an excellent platform for buying or selling bitcoin at a specific rate completely controlled and set by you. This platform also allows payment through local online payment gateways. Visit LocalBitcoins.
LinkCoin is one of the newcomers in the industry of cryptocurrency. It has been introduced over the counter for Altcoins for the first time in the world. This platform is formed using the experience of the stock exchange, investment banking, and brokerage firms. Ensuring high-quality security and user experience has already gained firm popularity after starting the journey in Visit LinkCoin.
If you want to indulge yourself in one of the most demanding cryptocurrency exchange platforms, then this is the platform you might be interested in. Even if you are a beginner in this sector, this platform will guide you to become an expert through its multi-dimensional UI and creative framework. Visit Binance. This cryptocurrency exchange platform focuses on trading at low risk, but confirming recurring purchases across the order books is the central part of its goal. This platform has been working to promote the adoption of cryptocurrency since Visit Gemini.
This trading place is only available to US citizens. This is very popular among people due to its fast and reliable conversion over other cryptocurrency exchange platforms. Besides, if you want to transfer your asset from Huobi global to Huobi OTC, you can do it freely in this marketplace. Visit Huobi. Luni is powered by a robust trade engine that has many extensive features. Although the system is safe and reliable, you can only exchange Bitcoin and Ethereum. The platform is easily understandable, and in every step, you will be guided through detailed guidelines.
Visit Luno. Coinigy started its journey in , and since they have maintained their reputation through their premium customer support. If you want to take your portfolio to the next level, its premium portfolio suit can help you a lot. You can build, manage, evaluate your portfolio, and exchange through all kinds of platforms. Visit Coinigy. Cryptocurrency is going to replace traditional currency in the near future. As a result, demand and prices are going higher day by day. In case you are not usual with the concept of cryptos yet, this is high time to start your journey.
To get going with the latest features of the digital currency exchanging platforms, you must choose a good platform. You can start exploring any of the described cryptocurrency exchange platforms above. Exchange rates, payment methods, deposit types, account management, and security are the issues you should keep in mind while choosing the cryptocurrency trading site that suits you best.
Is such an appreciated effort you guys made to make this compilation. I must say am happy to know more about this. Thanks for the informations here. I have gone through the entire article which looks quite interesting. Here, you have clearly explained about top cryptocurrency exchange platform for traders in Keep up the good work. Are you an crypto enthusiast, planning to launch your crypto exchange platform for your crypto trading business?
Check Osiz Technologies. Thanks for the article! Bitcoin tends to act as the market leader for cryptos. Often cryptos will follow the trend of Bitcoin. This is not an exact correlation, but it is something to be mindful of when considering to put on or take off a trade. All the most successful crypto traders I know pre-plan all their trades. They know what prices they are looking to enter at, what prices they will take profits at, and what price they will stop out for a loss to protect their capital.
Writing these price levels out before a trade will help you stick to your trading plan, and increases the probability you manage the trade correctly. Cryptos are volatile. There is nothing worse being up nicely on a position, and then having it reverse on you and turn into a loser. This will allow you to realize some profit, but still in a position to capture a bigger move if it continues to trend.
Learn more about my favorite trading strategies I use for cryptos here. Cryptos will often pullback and retest former resistance levels after breaking out. When swing trading crypto, it is best to wait for a pullback after a breakout or anticipate the breakout instead of buying at the breakout level. Usually, the algos in the crypto markets will try to shake you out once a breakout starts, so it is best to wait for a pullback so you can get lower prices and get a lower risk trade.
The volatility in the crypto markets allows you the potential to make huge returns in very short periods of time. However, if you are in losing trades and average down you put your trading account in huge jeopardy. Blindly averaging down on losers never works in the long run. Instead of making your losers smaller, it makes them larger. I am a big advocate of moving profits into a hardware wallet. Even the biggest exchanges can get hacked occasionally.
You do need crypto on the exchange to trade actively. The crypto markets are finally seeing momentum and trend after months of a choppy, range-bound market. There are amazing opportunities in the market every week. If you are interested in joining the biggest community of crypto traders, check out our trading community Cryptostreet. Here are 10 must-follow rules for swing trading crypto successfully: 1. Here is an example of a recent trade on ETH where we put our stop under nearby support: 3.
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|Instagram ethereum post||The Complete Cryptocurrency Investment Course. Retail swing traders often begin their day at a. Similarly, some platforms offer a vast range of signal providers, which can be managed either by another trader or can be fully automated. That is to say, experienced see more will seek volatility, as wild pricing swings permit frequent opportunities to enter and exit profitable positions. Here is what a good daily swing trading routine and strategy might look like—and you how best sites for crypto swing trading can be similarly successful in your trading activities.|
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