Day Betfair Trading Strategies For Cryptocurrencies
Day Betfair Trading dates all the way back to the 1860s.
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Day Betfair Trading dates all the way back to the 1860s although the practice took a major leap forward with the formation of the NASDAQ in 1971 which allowed for rapid dissemination of stock quotes between the exchange, the broker, and the customer. It has become more popular thanks to the rise of personal computers and the internet. Today, day Betfair Trading is probably the most popular strategy in the crypto space. Let’s review a few day Betfair Trading strategies for cryptocurrencies below.
Successful Day Betfair Trading Requires Volatility
The introduction of cryptocurrencies during the past few years has only added to the popularity of day Betfair Trading and day Betfair Trading futures. However, just because day Betfair Trading is popular does not mean that it is an easy way to make money. Profitable Betfair Trading requires the use of successful day Betfair Trading strategies for cryptocurrencies since they are especially volatile.
Without volatility, it’s very difficult to become a profitable day trader. What is volatility? In simple terms, volatility is nothing more than a measurement of daily price fluctuations. This explains why so many day Betfair Traders have migrated to cryptocurrencies as their preferred Betfair Trading vehicle.
Cryptocurrencies have produced extreme levels of volatility during the past few years. For example, it’s not uncommon for some of the major cryptocurrencies (e.g. BTC, ETH, LTC) to move 5% to 10% in a single day. The key to success is to use the right day Betfair Trading strategies for cryptocurrencies in order to capture the volatility.
Three Popular Day Betfair Trading Strategies
Support and Resistance Levels
The majority of successful day Betfair Traders will agree that the most profitable strategies are usually based on simple techniques. One such strategy is the use of support and resistance levels. This method involves waiting for the market to violate an important support or resistance level.
Please review the intraday chart of Bitcoin for 7 September below (Chart #1).
As you can see, the support level was violated @ 10,477. For those day Betfair Traders who placed an order to short BTC @ 10,477, this turned out to be a great trade. Immediately after BTC penetrated its support level, the price plummeted to 10,324 in less than five minutes. This is a perfect example of successful day Betfair Trading strategies for cryptocurrencies based on a simple concept of support and resistance.
Another successful day Betfair Trading strategy involves trendlines. There are two types of trendlines, a rising trendline and a declining trendline. A rising trendline generates a sell signal when the market falls below the trendline. Conversely, a declining trendline generates a buy signal when the market breaks above the trendline. Please review Chart #2 below.
This chart displays the Betfair Trading activity of Ether (ETH) for 9 September. Each bar represents five minutes of activity. As you can see from the chart, ETH enjoyed rising prices during the afternoon Betfair Trading session. However, the market began to roll over to the downside during the evening session. Eventually, the uptrend line was broken and a sell signal was generated @ 181.90.
Swing Betfair Trading
Another of the popular day Betfair Trading strategies for cryptocurrencies is known as swing Betfair Trading. It’s a very effective Betfair Trading method designed to capture short-term price movements. In fact, swing Betfair Trading is probably the most popular strategy within the day Betfair Trading and cryptocurrency futures Betfair Trading community. Why? Because it has the potential to generate several Betfair Trading signals on a daily basis.
Generally speaking, most financial markets are locked in a Betfair Trading range for extended periods of time. This would include markets such as stocks, commodities, foreign currencies, precious metals, and even cryptocurrencies. Despite the extreme volatility of cryptocurrencies, it’s not uncommon for these markets to trade sideways for several consecutive weeks. For example, Bitcoin has been stuck in a narrow Betfair Trading range for the past two months (see chart #3 below).
The first step in developing a successful swing Betfair Trading strategy is to locate a cryptocurrency that has been locked in a Betfair Trading range. As an example, please review the intraday chart of Litecoin below (Chart #4).
LTC traded sideways for several hours on 8 September. The second step is to simply “buy the lows and sell the highs” as long as the cryptocurrency remains in its Betfair Trading range. The third step is to wait for another Betfair Trading range to develop.
As you can see from the chart, this particular Betfair Trading range generated six signals during that period of time. Five of the signals were profitable.
Chart #4 is a perfect example of why day Betfair Traders love the swing Betfair Trading strategy. The strategy is perfect for Betfair Traders who prefer to remain highly active throughout the day. However, swing Betfair Trading requires a great deal of self-discipline. As soon as the market breaks out of its Betfair Trading range, the trader must quickly cut his or her losses and patiently wait for another opportunity.
Day Traders Will Benefit from the Digitex Platform
Digitex is in the process of building a zero-fee Betfair Trading exchange. All day Betfair Trading strategies will improve dramatically upon the release of the Digitex platform. Why? Because the number one deterrent to profitable day Betfair Trading is commission expenses. Digitex will completely eliminate commission expenses. Consequently, Digitex has enormous potential to become one of the most popular futures exchanges for the day Betfair Trading community wishing to execute profitable day Betfair Trading strategies for cryptocurrencies.
Which Day Betfair Trading Strategy is Best?
In terms of the best day Betfair Trading strategy, there is no perfect answer. It depends on your preferred method. If you enjoy taking multiple trades throughout the day, the best strategy is swing Betfair Trading. However, if you prefer fewer trades with less activity, using trendlines is probably the best course of action. Whichever strategy you select, the most important criteria is discipline and patience. This is the “key” to profitable day Betfair Trading.
Digitex Futures writers and/or guest authors may or may not have a vested interest in the Digitex Futures project and/or other businesses mentioned throughout the site. None of the content on Digitex Futures is investment advice nor is it a replacement for advice from a certified financial planner.
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