Beginners Guide to Crypto-Currency Day Trading
Over the past few years, we have come across many ideas on how to day trade Crypto markets. Below checklist, helps novice trader to get started.
1. China and USA markets generate most of the volume in Asian and US exchanges. Have a watch on it.
2. Monitor Korean market Open and Close — historically has more swings. This will help in identifying the market sentiment.
3. Usually, high volume days are triggered from East to West. FOMO(Fear of missing out) kicks in and opportunity is always more. Follow the trend.
4. Watch 7d price change for short term trend.
5. Binance and Coinbase Listing Effect.
6. Kimichi Premium.
7. Google search trend correlation with the price.
8. Blockchain transaction volume correlation with price.
10. Shorts vs Longs to identify market direction.
11. Be aware of the support and resistance levels from technicals.
12. Bitcoin dominance index/percentage.
13. Crypto-currency overall market value change.
14. Identify the right exchange to buy low and sell high.
15. Always send a limit order with the right quantity from the top of the book.
