Why Intraday Trading Crypto Can Be More Profitable!

When people think Cryptocurrency, they often think of it as they do the stock market i.e. buy some Crypto and hope that it increases in value over the long term. This can be a good strategy and many people have had success with it in the past, however it’s not necessarily the best way. As I’m sure you’re aware Crypto is volatile. Holding on to various coins can be a bumpy ride that is out of your control. That’s why many Crypto enthusiasts are turning to Crypto trading.

Risks of holding Crypto Currency!

Crypto currency is volatile and there’s no way of predicting what it will do next. Given it’s a relatively new phenomenon it’s no surprise that prices move up and down all the time. In this sense, holding Crypto can be a gamble due to the high level of risk and uncertainty.

That’s why many are turning to Crypto trading. Holding on to Crypto and hoping for the best might work for some people, however you need to have the stomach for it.

Day Trading

Trading your Crypto consistently can prove to be a more profitable and safe method to approach the Crypto game. Given the volatile nature of Crypto, you can buy today, sell tomorrow and make much more profit than holding on long term. The benefit of trading is that you can set the limit for how low the price may go. In this sense you can make a more calculated judgement and hedge your bets accordingly. Platforms such as CryptoSouk make trading Crypto easy with a ProTrade Platform and multiple deposit and withdrawal options to make sure you can trade quickly and securely.

Intraday Trading

If you look across all Cryptocurrencies the commonality is the volatility. Value can change very quickly with prices often fluctuating by the hour. This is great news for traders. You can wait for a good time to buy and quickly jump in. Then sell a few hours later for a tidy profit. By doing this daily you’re able to make a healthy living from Crypto trading. Even if there is a down-turn, on an hourly basis there are still opportunities to make profit.

Indicators

Many Crypto traders may choose to use indicators to help their trading strategy (think EMA, SMA, RSI etc.). Indicators can be helpful in identifying the right moments to jump in and out however shouldn’t be used as the sole indicator for trades.

Riding the Wave

The key is finding the right entry and exit point. I won’t lie this isn’t always easy to do. You need time and patience to wait for the right moment. The thing to remember is that not every one of your trades will come off. That I can guarantee. However, if you play the trading game right you’ll be on course for a profitable outcome.

The Turn-around Strategy

If hours seem like a long-time you can always look at 5-minute intervals if that tickles your trading fancy. You may receive a lower ROI with this strategy but it all comes down to personal preference. When trading at 5-minute intervals the key is to keep an eye out for those key turn-around points. If you’re analysing a Crypto price chart over a time period, the “turn-around points” are where prices dip and rise again, causing a “U” shape on the price chart. Analysing these points and trading at the right positions where profit can be made isn’t always easy but is the key to trading success. To achieve this, you need to ensure your platform is dynamic enough to enable you to trade in real-time. CryptoSouk is an example of an exchange platform with the technology to support real-time trades and ensure you get the price you want. Any delay in your trade can be the difference between profit and loss.

Conclusion

While trading Crypto isn’t the only strategy, it’s a viable option for those looking to make a Crypto buck or two. No doubt it has its risks, however by looking over the above suggestions and doing your own research, you’ll be well placed to become the Crypto trader you aspire to be. If you have any issues or questions, the team at CryptoSouk are here to help you on your Crypto trading journey. Disclaimer
The information contained within this website and resource section is not intended to be a substitute for financial advice or promotional offer on the investment or purchase of Cryptocurrencies, digital tokens or related assets. Although care has been taken in preparing the information provided to you on this site and in the resource section, we are not held responsible for any errors or omissions and accept no liability whatsoever for any damage or loss you may incur through the result of your own actions and decisions when deciding to purchase or invest in Cryptocurrencies or related digital assets. You should never engage in trading unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. We recommend you always seek financial/or legal advice counsel relating to your investment and purchase circumstances. This material has been prepared for informational use only.

Disclaimer

The information contained within this website and resource section is not intended to be a substitute for financial advice or promotional offer on the investment or purchase of Cryptocurrencies, digital tokens or related assets. Although care has been taken in preparing the information provided to you on this site and in the resource section, we are not held responsible for any errors or omissions and accept no liability whatsoever for any damage or loss you may incur through the result of your own actions and decisions when deciding to purchase or invest in Cryptocurrencies or related digital assets. You should never engage in trading unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. We recommend you always seek financial/or legal advice counsel relating to your investment and purchase circumstances. This material has been prepared for informational use only.

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