Make small gains every day with Scalping
Scaling is a trading strategy in which a trader profits from small changes in the price of a coin/coins. Technically, it is a type of intra-day trading and has been working great for me for quite some time now.
How shall one select coin/coins for scalping?
- Initially, newbie traders may find it difficult selecting a coin for scalping as there are hundreds of different coins. But what one should keep in mind while selecting the coin is volatility. The greater the volatility, the better it is.
- Generally, 2 to 3 coins from among the top 10 losers and top 10 gainers with high trading volume shall be selected. Avoid coins with high volatility but low trading volume because it might be a pump & dump effort.
After selecting 2 to 3 coins, I note down the support levels and then patiently wait for these coins to hit their respective support levels. - Once that happens, I buy these coins with a proper risk management strategy by placing a stop-loss at 1–2% less than my entry price.
I have been using this strategy almost every day, and most of the times, I have succeeded. Last week itself, I have traded INS, FTM, MTH, WAN, REN, and BTC using the same technique and I made satisfactory gains. Remember, Scalping requires patience, and selecting the wrong coin or buying at a wrong time could result in a loss.
