Hello Guyz, The idea behind Day Trading is to look for trading opportunities that offer you the potential to make a quick profit. If day trading suits your own personality, let’s dive in and get through a step-by-step guide on how to day trade cryptocurrency.
Now, before we go any further, we always recommend taking a piece of paper and a pen and note down the rules of this scalping strategy.
In this Article , we are going to look at buy side :
Step #1: Pick up Coins with High Volatility and High Liquidity
Step #2: Apply the Money Flow Index Indicator on the 5-Minute Chart
Step #3: Wait for the Money Flow Index to reach the 100 level
Step #4: Buy if MFI = 100 and if the subsequent candle is bullish
Step #5: Hide your protective Stop Loss below the low of the day. Take Profit during the first 60 minutes after you opened the trade.
Feel free to leave any comments below, we do read them all and will try to respond.
Interesting short-term position on day trading. Usually a longer timeframe is what I came across but this 5 minutes interval might be too short for some, though still a good introduction to a few who have limited time for trading.
Anyway, still quite an interesting strategy, and where's the article you mention about?