Cryptographic Trade Strategy for Beginners
As a cryptocurrency investor, you may know the passion for buying and selling digital assets on various stock exchanges in search of profits. However, moving through the trade trade in cryptography can be huge, especially for beginners. In this article, we will test the three necessary strategies that will help you start: cryptocurrency trading strategy for beginners, profit, dai (dai) and cold wallet.
Cryptographic Trade Strategy for Beginners
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Average dollar cost
: This strategy includes purchasing a fixed amount of cryptocurrency at regular intervals, regardless of market results. On average, you can reduce the impact of volatility on the portfolio.
- Orders for Stop : Order ordering is an automatic sales order that determines the target price when you want to get out of position. This helps to limit possible losses and avoid a significant drop in value.
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position size : The size of the item consists of determining how much capital should be allocated for each trade based on risk tolerance and investment purposes. A common rule is to grant 1-5% of the total portfolio for each trade.
make a profit
Profit order is a suspension order that allows you to block the profit as soon as you reach the target price. When the market reaches a predetermined level, you can sell your cryptocurrency and make a profit.
To configure an organization order:
- Set a special price you want to get out of trade (eg 50% above or below the entrance price)
- Select the type of detention order (eg fixed by following or based on interest)
- Use a reliable trading platform or exchange that supports profit orders
Dai (Dai)
Dai (Dai) is a decentralized stabooin project aimed at providing a reliable and transparent method for replacing the fiduat currency with cryptocurrencies. Dai is set to the American dollar value, which makes it an attractive opportunity for investors trying to diversify their wallets.
Dai’s main features:
* STABALEG : Dai constant price provides constant value by reducing market variability
* Low risk : Dai is designed to be less unstable than traditional cryptocurrency
* DIFFERENT DELIVERY : DABLECoin Supports a unique marker called Dydx that helps keep its fixed value
Cold wallet
A cold wallet is a physical or digital solution for storing cryptocurrency assets. Safety and protection against unauthorized access must be provided.
Benefits of using cold wallet:
* Improved Security : Cold wallets are harder to break and manipulate
* Reduced Risk : Coinet storage in separate offline reduces the impact of price fluctuations
To set a cold wallet:
- Select an external or cloud -based memory solution (eg Ledger, Trezor or Kraken)
- Configure two components authentication and enable secure password management
- Regular portfolio data backups to prevent damage to equipment failure or theft