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What Are Swing, Flat and Rekt
You should know the trading terms “swing” and “flat” because they are used for important trading situations. You should also know what “rekt” is to avoid it at all times.
A swing is a short-term change in cryptocurrency price within a narrow price range. Even a trader who hasn’t been on the market for a long time can recognize a swing. It looks like leaps that may even seem significant, but they don’t mean a trend has set and don’t reflect the actual direction of price movement. This is why most traders wait until these leaps stop and a certain trend sets in.
However, some experienced and unscrupulous traders make profit at this point by leaning on the active trading by novice traders who think of any price movement as a trend. Thus, on May 15 the price of Bitcoin was 9,000 in the morning falling to 8,500 a few hours later and climbing back again to about 9,000 in an hour or two.
Each price change could seem like a beginning trend to an inexperienced trader making them buy or sell cryptocurrency. There would always be someone willing to buy assets from them at a low price or sell assets to them at a high price.
Flat is the sideways price movement within a horizontal price channel. Simply put, it’s a situation when price fluctuations are insignificant for a long period of time. The price doesn’t rise or fall too much, minimum and maximum values remain at the same level on the chart. In other words, flat is a neutral trend.
Few traders are willing to trade during a sideways trend since the profit generated by price movements is minimal. However, some traders buy near the support line and sell near the resistance line for the entire period of the neutral trend and are able to make a good profit out of it. One should monitor flat closely since a breakout of the technical line will often mean a trend is forming.
Rekt (originating from “Wrecked”) is a loss of funds resulting from a highly unprofitable transaction. Unfortunately, no one is immune to this — especially the novice traders. However, even if it happens, don’t panic and don’t try to make up for it at once — it could aggravate the situation. It’s best to exit trading and carefully analyze your actions and causes for loss to avoid the same situation in the future.