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Cryptocurrency Trading Strategies: Scalping
Cryptocurrencies as a trading asset have not been around for long, but many traders have figured out pretty fast that cryptocurrency trading has its own patterns which allow to develop trading strategies. One of these strategies is scalping.
Basics of scalping
Scalping is the execution of multiple short-term transactions aiming to make profit on the intraday fluctuations of cryptocurrency prices. Profits made in each transaction are small, but they can compound into a large gain.
The trader will first carefully study cryptocurrency price trends using charts, latest transactions and the order book. They will then position their orders and closely monitor cryptocurrency behavior to make an instant profit.
Advantages of scalping
Scalping uses the high volatility of cryptocurrency prices while decreasing dependence on market trends. In other words, the trader who uses this strategy can make profit in any market conditions: both on the rise, and on the downturn. Even though this strategy requires a great deal of concentration and self-discipline, it can also bring in a fair daily return.
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