Are you new to crypto trading and not sure about which strategy to follow? You are definitely not alone, because the crypto market behaves in ways that are not known to regular stock market traders. Having a trade strategy may not be mandatory to begin crypto trading but it can be a savior. In case the trade goes south and your plans go awry, you will know what to do in response. Not every trading strategy is suited for the newbie; you can choose to follow any of these described below to prevent yourself from making impulsive and rash decisions. You can also make use of automated trading robots like Bitcoin Up to trade cryptocurrencies independently. Visit https://www.economywatch.com/bitcoin-robot/bitcoin-up for exploring more about this auto robot.

5 Beginner Trading Strategies Worth Considering:

1. Hodling: This is perhaps the easiest to follow and involves you buying and holding onto the coins in the hope that their prices will go up later on. For a newcomer, this is definitely the safest strategy to follow because it is a passive investment approach whereby you hold onto your digital assets, regardless of how the market behaves. The buy-and-hold-strategy is typically determined through fundamental analysis and no technical indicators are involved. You do not even have to monitor your portfolio all the time when you stick to Hodling.
2. Day trading: Many beginners opt for day trading whereby you enter and exit trade positions in the course of 24 hours. For a seasoned trader this can be an extremely lucrative option. But on the whole, anyone can do it because you can buy or sell the moment the prices reach your target. The crypto market is very volatile making day trading a tad risky for a newbie but the returns can be impressive. Taking a look at this etoro erfahrungen deutschland article will provide an insight into trading basically.
3. Swing trading: This strategy is long-term where you can hold positions for more than a trading day but usually not more than a month. Swing trading is somewhere between trend trading and day trading. As a swing trader you exploit the volatility which plays out across many weeks. Technical indicators and charts will play a role when following swing trading. It is rather convenient for newcomers because the trades take a longer time to play out; at the same time, they are not so long that traders cannot monitor them. So, as a rookie, you get more time for making decisions.
4. Trend trading: This is often called position trading and it involves holding onto a position for a long time, usually spanning a few months. As a trend trader, you can enter long positions during an uptrend and short positions during a downtrend. The idea behind trend trading is that the asset will continue to move in the trend’s direction, but as a trader, you need to prepare for a trend reversal. This explains why you need to include technical indicators like moving averages and trend lines to lower your risks and improve your success rate. Beginners can use trend trading successfully when they perform due diligence.
5. Scalping: This is one of the fastest trading strategies and focuses on taking advantage of small price changes time and again. As a scalper, you need not hold onto a trade position for the long term; scalp traders typically enter and exit trades within seconds. This trading strategy can yield good outcomes when you can identify market inefficiencies that keep recurring and exploit these. So, even if you are new to crypto trading, you can hope to make small profits from time to time. Scalping is perfect for markets characterized with high liquidity where entering or exiting positions is predictable and smooth. While not suitable for beginners entirely, it can bring profits if you understand the working of the crypto market.