Do you keep checking the Bitcoin price during the weekend? Always close your positions before the weekend. Or you can establish a trading schedule, so you only trade on specific days of the week. For example, you can define that you will never trade on Fridays or that you will never trade if you are feeling tired or sleepy. In addition, your trading plan may also contain other general guidelines, even down to some minor details. How you document and measure your portfolio performance What triggers your entries and exits (your stop loss placement) It prevents you from making hasty, impulsive decisions that often lead to big financial losses.įor instance, a comprehensive trading strategy may include the following: In other words, having a trading plan in place makes you prepared for the possible outcomes. If something unexpected happens in the market (and it will), your trading plan should define how you react – and not your emotions. While having a trading strategy is not mandatory for trading, it can be life-saving at times. It’s a framework you create to guide you in all your trading endeavors.Ī trading plan can also help mitigate financial risk, as it eliminates a lot of unnecessary decisions.
We can describe a trading strategy as an extensive plan for all your trading activities. With a solid trading strategy, you’re more likely to achieve your trading and investment goals. So, would you like to devise your own trading strategy? This article will help you with the basics of how you should approach speculating on the crypto markets. However, these may also apply to other financial assets, such as forex, stocks, options, or precious metals like gold. This article mainly focuses on cryptocurrency trading strategies. Since there are many different trading strategies, we’ll cover some of the most common ones.
We’ll differentiate which one applies to which of these strategies, but make sure you understand the differences between these concepts before going further. The two main schools of thought you’ll need to consider when building a trading strategy is technical analysis (TA) and fundamental analysis (FA). This way, you can continually monitor and optimize your cryptocurrency strategy. Trading strategies help you organize those techniques into a coherent framework that you can follow.
Binance reserves the right to suspend, freeze or cancel the use of Binance accounts by persons other than account registrants. Binance accounts can only be used by the account registrants.Binance reserves the right to terminate the Binance Academy Technical Analysis Study Week at any time without prior notice.Illegally bulk registered accounts and sub-accounts shall not be eligible to participate or receive any rewards.The unlocked Dynamic Rewards Pool will be divided equally among all qualified users.The validity period for the token voucher is set at seven days from the day of distribution.Users may check their rewards via Account > Reward Center. The BUSD token voucher rewards will be distributed within 15 working days after the activity ends.The winners will be determined according to the method specified by Binance at its sole discretion.Users must login to their verified Binance accounts whilst completing tasks during the activity in order to qualify for any reward.All users must get their accounts KYC-verified to participate in the Binance Academy Technical Analysis Study Week.
0 kommentar(er)
