There are people who simply weren’t born for long-term trading. There are many traders who rather take smaller trades with the advantage of frequency, thanks to benefits like smaller losses, no overnight fees, and let’s face it, more fun.
So, if you’re looking for ways to make your day trading more successful, then don’t be afraid. We will show you some ways you can enter trades with this timeframe and provide you with examples on how to carry them out.
Day trading is a style of trading and not a specific strategy in itself. Day traders prefer the ability to open a larger number of smaller trades instead of opening one trade and holding it for a longer-term.
1. Best Indicators For Trading the 15m Timeframe
The best indicators for this 15-minute chart strategy are the EMA, MACD, and Parabolic SAR.
The EMA lets you spot trends easier, and you can get good information if you use for example a combination of two different moving averages. The MACD offers a similar function, but it’s better for confirming trend strength. On the other hand, the Parabolic SAR lets you gauge short-term momentum and provides good stop signals when coupled with the rest.
Why do I like the 6 Hour chart? Not many use it. Most traders use standard time charts, so using less common parameters for your trading can place you ahead of the pack thanks to how to using unique information to make trades.
Note: Using custom time frames is something that you might not be able to do on your current broker, so make sure that’s available if you want to use it. If your broker doesn’t support this feature, then you may want to start looking for another one for the long term.
1. Trading The 6 Hour BTC Chart Without Indicators
As I’ve stated previously, price action is a very powerful and versatile indicator in its own right.
That’s because all other tools are really just ways to simplify the information provided by price action and are derived from price action. Hence, elite traders rarely use indicators and they can obtain all the information they need just by looking at the candlesticks alone!
So, let’s see how I traded this 6H chart just by using price action:
Although reviewing the past crashes of the price of Bitcoin and cryptocurrencies is productive enough in learning the esteemed lessons from them, we have to also look at and consider what the upcoming years may bring?
Caution: As promising and unique this concept may sound, there is no certainty or any other form of acclimation that predicted prices would be 100% accurate and will provide an effective market evaluation of Bitcoin or other cryptocurrencies.
These are just estimations and predictions based upon facts and systematic study of the crypto world.
Also, in our view, cryptocurrencies are more likely to rise in the following years than crash. We only gathered the negative news and theories here and show them below because we believe that we all should be aware of the potential risks.
Only the price tells us the real value and where the market will go. Make sure to read our trading strategies to find out how to trade cryptocurrencies profitably.
A few words about Bitcoin mining and the core of this strategy
You all surely know that Bitcoin hasn't appeared out of thin air and that new Bitcoins are created by mining. The mining process consists of algorithms that are solving hard mathematical formulas and trying various mathematical combinations. The successful attempts of these algorithms create new Bitcoins.
Mining is an interesting business field with already a lot of involved participants and institutions. But, we are not going to go into it in this article. Instead, here we are now going to dive into the insider information and the core of this strategy.
The mining process becomes increasingly harder over time as more and more Bitcoins are extracted. And because of this the mining process also becomes more expensive due to the energy needed to run the computer machines as well as other costs involved.
This made its fans millionaires or even billionaires.
Let us now have a few highlights of the important maximum and minimum prices of bitcoin following the years of its succession.
But we are more specifically talking about Bitcoin, the oldest and the most famous cryptocurrency the market has ever witnessed. Here are a few reasons why Bitcoin like other cryptocurrencies can crash from time to time and experience significant downside moves. But don’t get confused, rise and falls are a natural part of every asset. We are only going to show the most usual reasons why cryptocurrencies can experience similar moves from time to time.
But remember, these moves to the downside only bring more profitable opportunities for long-term investors in cryptocurrencies.
Double tops and double bottoms are some of the most popular chart patterns for traders. Therefore, they tend to be those you learn first when it comes to trading chart patterns when trading cryptocurrencies.
Due to how commonplace they are - and how profitable it can be to know them - I’ve prepared this guide so you can know exactly how to proceed when you encounter one!
So, read on and learn how to trade double tops and double bottoms!
What’s a Double Top?
But of course, if preferred - you can go on lower time-frames and still trade the swing trading strategy. By doing so, you would most often open and close trades within the same day.
Multiple strategies use price swings as a base to success, like the "Stuck in a box" or "Catch the wave" which are two of the most popular and effective swing trading strategies.
If you are interested in making money with NEO, then take a seat and keep reading because I’m going to show you how to trade and take advantage of this great opportunity.
While I’m not much of a long-term trader myself, I can certainly recognize the attraction towards this approach.
Many traders are attracted to this approach thanks to the instant nature of it all and how it eliminates the long waiting times of long-term investing.
Since it’s still quite a hectic way of investment, I’m here to give you my guidelines on how to do it seamlessly.
Understanding what is a Bitcoin ETF is not that difficult.
These funds are operated in a similar way to public equities and are traded on exchanges.
We as humans feel comfortable with patterns, which are homologous with habits, and from that, we can see and start patterns anywhere we go without even noticing a lot of the times we do!
Thankfully, that also is true for and can be applied to trading. These patterns, once identified, can give you significant clues regarding where the price will head, usually with high accuracy.
Here, we’ll delve into the most important and popular chart patterns and how to trade them on cryptocurrency charts.
From the best wallet to the best exchange, read on to discover the way we’ve found to be the most effective.
Now, before we begin, I must clarify that I value safety and versatility the most, so accordingly, I’ll list the different aspects of buying cryptos.
Whereas cryptocurrencies look to take away the influence of large financial institutions and focus solely on individual ownership of value, Ripple looks to create a cryptocurrency that works as a “fiat” translation for overseas trade.
Why do we care about this difference?
Well, you’re about to find out how this helps you trade it.
In fact, they’re so influential that there are indicators based on this famous equation, and they work wonders for those who can understand them.
Has this made you curious? I know I was when I first heard about it!
Don’t worry, read on and find out what it is and how to use it.
But before you can make your first $1,000,000 in cryptocurrencies or any other market, you have to gain enough knowledge, education, and experience, use the right tools, strategy and risk management system and especially you need to have the right mindset. Without all of these, you will most probably (translation: definitely and certainly) lose in the long-term.
During the launch of Bitcoin some people had access to it for free, not even a single penny was charged, so it was a ravishing offer. After a whole year, the price was lifted to $0.37-$0.65, yet a minimal number of sales could be conducted.
The Experts Speak Out
Different experts have commented on what will happen to the price of this cryptocurrency by 2019 and beyond. Most predict a downward trend in the price, noting that the outlook for Bitcoin looks unfavorable.
Others, however, see this year as a glorious year for the Blockchain token, estimating its price at over $1,000,000 USD by the end of the year.
Who could be right? What tendency should we follow? Bullish or bearish?
There aren’t many cryptocurrencies that are as famous as Ethereum.
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