How To Create A Trading Strategy For Ethereum Classic (ETC)

Creating a trade strategy for Ethereum Classic (etc): a beginner guide

The cryptocurrency trade has become increasingly popular in recent years, and many investors are trying to benefit from the volatile markets. With so many available cryptocurrencies, however, it can be difficult to make well -founded decisions about which you should act. In this article, we will focus on creating a trade strategy for Ethereum Classic (etc.), one of the most active and liquid -loving old coins on the market.

What is Ethereum Classic?

Ethereum Classic (etc) is an open, decentralized blockchain with which users can create and provide intelligent contracts on the platform. Etc. was created in 2015 as a fork of the original Bitcoin blockchain, but has since developed into a unique unit with its own cryptocurrency and its own ecosystem.

Why act etc.?

There are several reasons why you might want to act, etc.:

• Liquidity : ET is one of the most fluid cryptocurrencies on the market that makes it easy to buy and sell.

• Volatility : ETC was very volatile, which can lead to considerable pricing if they are carried out correctly.

• Community Support : The Ethereum Classic Community is known for its active and supportive nature, whereby many developers and dealers contribute to the platform.

What are the most important metrics?

To create a trade strategy for etc., you have to concentrate on several important metrics:

• Price : Monitor the current price of ETC (ETHC) in relation to other cryptocurrencies.

• Volatility : Keep an eye on the daily and monthly volatility of etc., which can indicate a feeling of market.

• Market capitalization : Follow the overall market capitalization of Ethereum Classic in order to measure the value in relation to other assets.

• Commercial volume : Monitor the trading volume to identify potential purchase or sales options.

Strategyide

Here are some strategic ideas to make it easier for you to get started:

• Keep long -term : Invest in the long run in etc. and drive out market fluctuations.

• Day trade : trade etc. at short notice using technical indicators such as moving agent values ​​and RSI (relative strength index).

• Swing Trading : Use etc. as a flying trade and keep it for 1-3 days to use its volatility.

Strategy parameter

To create an effective trade strategy for etc., you have to set some parameters:

• Entry point : Find your entry point based on the current price and market conditions.

• Stopless : Set a stop-loss order above or below your entry point to limit potential losses.

• Take profit : Insert a price for profit to block profits when you achieve your goal.

Strategy options

Here are some strategy options for etc.:

• Dollar cost agent (DCA) : Invest a fixed amount of money at regular intervals, regardless of the market price.

• STOP-LOSS orders with follow-up stop loss : Use stop-loss orders to block profits and at the same time protect against considerable losses.

• Position trade

  : Sell, etc. and buy it back when it falls below your entry point. Use levers to maximize the profits.

Tools and resources

To create a successful strategy for etc., you need some tools and resources:

• Cryptocurrency exchange : Use platforms such as Binance, Kraken or Coinbase to buy and sell, etc.

• Trading platforms : Use trading platforms such as MetaTrader 4 (MT4) or Cointrendstrading.com to analyze market data and do business.

• Technical analysis tools : familiarize yourself with technical indicators such as the move of average values, RSI and Bollinger ligaments.

Diploma

In order to create a successful trade strategy for etc., careful planning and execution is required. By concentrating on important key figures, strategies and parameters, you can build an effective trading plan to ride the waves of the cryptocurrency market.

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