How To Create A Trading Strategy For Ethereum Classic (ETC)
Ethereum Classic (etc.) Trade Strategy Creating: Beginner Guide
Cryptocurrency trade has become increasingly popular in recent years, with many investors trying to benefit from volatile markets. However, as so many cryptocurrencies are available, it may be difficult to make conscious decisions about which one to market. In this article, we will focus on the establishment of the Ethereum Classic (ETC) trading strategy, one of the most active and liquid in the Altcoins market.
What is Ethereum Classic?
Ethereum Classic (ETC) is an open source, a decentralized blockchain that allows users to create and deploy smart contracts on the platform. ETC was created in 2015 as the original Bitcoin Blockchain fork, but since then it has become its unique unit with its cryptocurrency and ecosystem.
Why trade, etc.?
There are several reasons why you might want to trade, etc.:
- Liquidity : etc. Is one of the most liquid cryptocurrencies on the market, making it easy to buy and sell.
- Volume : etc. Historically, it has been highly volatile, which, with proper execution, can lead to a significant increase in prices.
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Public Support : The Ethereum Classic Community is known for its active and supportive character, and many developers and traders contribute to the platform.
What are the main metrics?
To create a trading strategy, etc., you will need to focus on a number of key indicators:
- Price : Supervise the current, etc. Price (ETHC) relative to other cryptocurrencies.
- Natural : Follow up etc. The volatility of the day and monthly, which may indicate the mood of the market.
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Market Capitalization : Track Ethereum Classic’s total market capitalization to assess its value in relation to other assets.
- Trade volume : supervise trade volume to identify potential buying or selling options.
Strategy ideas
Here are some strategy ideas to start:
- Long -term detention : Invest, etc. In the long run and leave the market fluctuations.
- Daily Trade : Trade, etc. Short -term using technical indicators such as variable average and RSI (relative strength index).
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Swing Trading : Use etc. As a swing trading, holding it for 1-3 days to use its volatility.
Strategy parameters
To create an effective trading strategy, etc., you will need to set up some parameters:
- Entrance point : Set the entrance point based on current price and market conditions.
- Stop-lost
: Set the suspension order above or below the entrance point to limit possible losses.
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Login : Set the profit price to turn on the profit when you reach your goal.
Strategy Options
Here are some strategy options, etc.:
- The average value of the dollar cost (DCA) : Invest in a fixed amount of money regularly regardless of market price.
- break loss orders with delayed loss : Use suspension orders to lock profits while also protecting against significant losses.
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Position Trade : Sell, etc. And buy it back when it falls below your entrance point using loans to increase the benefits.
Tools and Resources
To help you create a successful strategy, etc., you will need some tools and resources:
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Cryptocurrency exchange : Use platforms such as binance, Kraken or Coinbase to buy and sell, etc.
- Trade Platforms : Use trading platforms such as Metatrader 4 (MT4) or Cointrendendrading.com to analyze market data and transactions.
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Technical Analysis Tools : Check out technical indicators such as variable average, RSI and Bollinger bands.
Conclusion
Creating a successful trading strategy, etc. Careful planning and execution is required. By focusing on the main metrics, strategy ideas and parameters, you can create an effective trade plan to travel to the cryptocurrency market waves.