Quick Tip- Trading Crypto
Here's a quick tip that has made me a bunch of money...
If you're interested in day trading but are not a professional who has 4 split screens, it can be very intimidating.
My first suggestion and quick tip is to start with the bollinger bands.
The bollinger bands, in quick summation, help show the trend of an asset in more detail than the current trading price fluctuation. A good crypto to start day trading with is one with a higher 24hr volume. This is because it can't be manipulated by one or a few investors as easily as a small coin.
The above pic is ETH/USDT. Notice the trend on the bollinger bands. Every time the price hits the bottom boll band, the trend shifts and the price starts to rise. The opposite is true when it reaches the top.
This isn't always the case, but as you monitor a coin and watch the trend (along with other tools that we'll talk about another time), you can get an idea of when the momentum will change.
As always, do your own research but I wanted to make sure my Steemit community is using the bollinger bands to their advantage!
Legal Disclaimer: This is only my opinion, make of it what you wish. This means that it's not advice or a recommendation to either buy or sell anything! It's only meant for use for entertainment purposes.
Nice tool... I've used the MACD mainly and RSI.. I've heard about bollinger bands, but haven't used that indicator yet. Maybe you could try making some short videos about the subject. You can post them in DTube linked to your steemit account. Videos usually are easier to follow and are appealing to more audience. I will start doing that too shortly.
Very useful comment. I've been thinking about using DTube as well. I'll be sure to follow you and keep an eye on your content...I also use MACD and RSI in conjunction with the boll bands. Keep the eye on the RSI line around 30 or below while the MACD line is crossing over on an upswing. That with the price on the bottom of the boll bands has resulted in some nice trades for me!
Fantastic.... I'm preparing my equipment to start shooting videos too... Let's do it :)