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3 Strategies to Use on the CryptoAltum High Leverage, Zero Commission MT5 Platform

Place/Date: - September 27th, 2021 at 7:10 am UTC · 5 min read
Contact: CryptoAltum, Source: CryptoAltum

3 Strategies to Use on the CryptoAltum High Leverage, Zero Commission MT5 Platform
Photo: CryptoAltum

Cryptocurrency trading has evolved into a highly technical affair. This craft is not about making a string of lucky bets. Instead, traders can undertake a detailed analysis of markets and trends to make informed decisions.

Additionally, the emergence of specialized trading software like the MetaTrader 5 has elevated the technical side of trading. Features like comprehensive price analysis, algorithmic trading applications, and copy trading give the MT5 broker an edge in this scene.

CryptoAltum is by far the first and only broker to successfully optimize the powerful features available in the familiar MT5 platform allowing for easy, stress-free cryptocurrency trading. This way, CryptoAltum not only supports over 60 crypto pairs and 5 crypto base currencies but also allows the trading of Fx pairs, gold, oil and indices – diversity which makes it a leader and a choice for many traders.

The presence of cryptocurrency brokers with high leverage like CryptoAltum that has been active since 2019 and other tools informs the need for analysis in trading.  Such analysis and strategizing enable a trader to appreciate the risk profile of every trade they make better. High leverage like the high 1:500 leverage that CryptoAltum offers can be potentially lucrative if one fully appreciates what leveraged trading entails.

Additionally, trading strategies help traders do their part better. Some strategies take advantage of broker automation and friendly terms like the zero commission rate that CryptoAltum offers. Ultimately, a trader will have to decide what strategy works best or a combination to achieve optimum trading advantage. Here are some of the prominent trading strategies:

Scalping

In scalping, a trader tries to profit from small price movements by making a fast profit off reselling. The essence of scalping is to make a series of small profits. Accordingly, a trader must have a strict exit strategy because one significant loss can wipe out a number of small gains. Therefore, tools like a live feed, direct broker access, and the time to make many trades are necessary. Scalping works great with smaller amounts, which you can also improve on with the 100 percent deposit bonus that CryptoAltum offers.

The general idea is to lessen your exposure to risk as much as possible. Markets move all the time, and it is easier to make profits off of frequent small movements. Scalpers often trade using leverage to amplify their gains. Unfortunately, it can also amplify potential losses. Therefore, you need to manage risk effectively because the objective is to be on the winning side more often than not. Some trades using this strategy last less than a minute, so the preparation and analysis bit is fundamental.

Additionally, it is beneficial to learn how to read charts and other technical indicators that a broker like CryptoAltum offers. This knowledge is vital in determining entry and exit positions for trades. Scalping is more suitable for experienced traders but beginners can learn quickly and be effective scalpers.

Range Trading

The name speaks to what this strategy is all about. In range trading, the strategy assumes that prices tend to move within a certain range. An investor must first identify the range at which they buy and sell within a stipulated period.

For instance, if Bitcoin is currently trading at $50,000 and you have reason to believe it will rise to $55,000 in two weeks, that is your range. Therefore, you purchase BTC and trade it once your range threshold is met. This strategy requires looking at candlestick charts and resistance levels of respective assets.

A trader may set a range for buying or selling when prices reach the resistance level. They can alternatively take up short positions available on CryptoAltum to close out the short when prices fall to support.

In all, range trading involves a longer term than scalping. However, there is still room for analysis before making trades because you have to make informed choices.

Auto/Bot Trading

Automation has made a tremendous difference in trading in the past two decades. Bot trading involves the use of algorithms and trading bots to execute a series of trades in quick succession.

An alternative name for this activity is high-frequency trading (HFT), which highlights the essence of trading bots. For a trader to utilize this strategy, it is advisable that they know a few advanced trading strategies and how automated trading generally works.

Accordingly, the trader must create a specific strategy for the bots to work with. Think of it as having to program a robot to execute what you want. You also need to constantly monitor the trades, and update the algorithms. The reason for this involvement is because market conditions can shift rapidly when you are in the middle of a trade. Understandably, deposits of BTC and USDT, which are most popular on CryptoAltum, are a favorite for such traders.

Ultimately, the goal is to find functional algorithms that you understand. It is advisable to work with reputable brokers with a track record to improve your chances of success.

Conclusion

Crypto trading strategies play a vital role in the successful utilization of available trading tools.

This list is not exhaustive because strategies can be as diverse as a trader’s imagination can go. The overall objective is to find what works and get some consistency.

Note that trading is inherently risky, and it would be unwise to expect that there is a perfect strategy that will never fail you. Nonetheless, finding one that is right more often than not is the objective.

Finding a broker like CryptoAltum that deploys the MT5 Platform and has a global fanbase is crucial in this journey. Sign up for a risk free demo account or active trading account today.

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