Re: Make even more profit on crypto trading with trade-mate.io
How to trade crypto on the news
News from the crypto market can have a strong impact on both local price changes and price trends. The news background serves as the basis for fundamental analysis. The latest information can have a positive or negative impact on both individual cryptocurrencies and the crypto market as a whole.
The essence of the news is that they support or spark interest in certain cryptocurrencies, which, of course, affects the price. Examples of such news include major platform updates, partnership announcements, regulatory changes, and so on. However, you should take into account the fact that not all news can affect the price.
For example, news about the consideration of an application for the adoption of an ETF used to spur the growth of the bitcoin exchange rate, followed by the rest of the market. When the application was rejected, the exchange rate, accordingly, fell sharply. This has happened several times, but the story with the SEC has been pretty long, as a result of which the crypto market has become immune to this kind of news, which almost ceased to affect the rate.
What you should know and how to trade
When trading on the news, the price may differ from "normal" trading indicators. And in this case, technical analysis can only act as a supplement, for example, to determine support and resistance levels or the point of a trend reversal, although no one can determine exactly how long the impact of a particular news item will be and when it will stop.
It is almost impossible for any trader to reliably know the peak or minimum value of the rate. Thus, traders need additional tools to improve trading performance that are not provided by crypto exchanges themselves. Trade-mate.io is the platform that provides such tools. The service provides advanced tools for traders and API access to Binance, BitMEX and Poloniex exchanges in one user-friendly trading terminal.
The Smart Trade function supports trailing mechanisms. If you find that after the news appeared, the cryptocurrency rate started to grow, you can set Trailing Stop when creating a task on Trade-mate.io. This will prevent losses in the event of an unexpected price reversal.
There is also Panic Sell button that allows you to sell all coins at once when the entire crypto market begins to fall after the release of negative news. Through Trade-mate.io you can track the price dynamics without switching between exchanges.
It is important to understand that few people have insider information, and only they can buy or sell cryptocurrency before the news are released. Therefore, follow the well-known rule "buy on the rumors, sell on the news. In the most media, information usually appears late, so it is better to use multiple resources and news aggregators for analysis.