It is a no stop and rapid changing process, with significant changing events. A coins’ value is judged by the last executed transaction according to the supply and demand force. When we speak about crypto currencies – it’s all about volatility. So when you enter a position it is recommended that you set the levels to take profits with an alternative to stop loss to minimize losses.
But how do you take these commands?
Is it possible to place a ‘take profit’ and a ‘stop loss’ command simultaneously? As of the time of writing, excluding some leveraged trading exchanges, such as Bitmex, current trading exchanges do not support the placement of the two commands simultaneously. In a perfect world, we could have set both stop loss for trade and levels of profit taking, lowering the chance of substantially loss. Until that happens, we will settle for what we have – We usually set take profit levels for some part of the position, while setting a stop loss level for the other ones.
Best buying and selling of Bitcoin online is possible only if have these analysis. With Alphard Coin platform you get a better way to even integrate your coins and start your way of investing for your future.
One unbreakable rule says; never involve your emotions in trading especially for ones who trade for short term. Follow this strategy: Lets’ say the Bitcoin price has crashed by 40% in three days. So what to do?
But the second portion of the coin( As per DCA) and average the initial entry price. But did you ever imagine why this happens to us? “Emotion” - this is the only factor that disturbs our whole plan. But if you are one of those who won’t buy the second share – consider your future as a trader or crypto trader in particular.
Don’t regret profits you missed, rather set your plans with a set of goals and act accordingly. After placing target sell commands, and given the coin has reached its first goal, you need to close out half your position. Meanwhile, increase the stop loss to the initial entry level (so you won’t lose at all). At the second target level you should close out an additional quarter of the position. Now, it is likely you will stay in the position with a quarter of it, although with the profits alone – once you got the fund’s money back “home”. At this point the profit game becomes unlimited. Coins that pump up 2,000% in two weeks are not a rare sight in the crypto world. When you are only playing your profits – you are on the safe side and it becomes a lot easier.
Time is money and one who jumps right into the deep water of crypto trading has to follow it not just is only on daily basis but on hourly basis. Trades can reach their destination within minutes, as well as within months. Think about the time you are willing to invest in studying and tracking the market. Remember your time has marginal cost, or in other words – your time has a price tag. If you have decided to put your time and effort into trading on a daily basis, it is better to start with small doses and examine the performance prior to increasing invested amounts. This is yet an additional benefit of crypto – the possibility of trading on micro transactions.
We are here to not just provide you with a platform of guidance in the business of buying and selling Bitcoins or any other cryptocurrencies but also help you with the analytics of the business. So keep visiting us for more updates on Crypto Currencies along with buying and trading bitcoins plans.