How to swing trade and profit
How to swing trade and profit
Whenever the market crashes, everyone holding a coin professes HODL. If you’re a non-trader and confident that you invested in the right coin, by all means just hold. But a trader doesn’t just hold altcoins.
Over the past 6-7 months, and even in the last couple of months, I’ve been swing trading to great effect. Whether the market takes a long-term bull or bear pattern, it’s always conducive to swing trading as long as you don’t get greedy.
How do I swing trade? Take multiple positions on steady, established altcoins, such as Neo, at low RSI(weekly). Sell at roughly 15-20% gain(relative to btc) and buy in at next pullback.
Established altcoins keep repeating the same pattern relative to btc, which is readily readable, even when fiat prices tumble dramatically and by swing trading, you can redouble your position over time without risk.
Even in a bear market, you’re making gains.
Yes, swing trade became a good trade to take good profit but it also risky. All swing does not become not the same if the trader doesn’t have a better idea in the trading method. So I think don’t take any risk where you don’t have experience, you could lose your capital. Yes, if you have a good experience in the trading market then you could do it.