Swing Trade Strategies Cryptocurrency

Swing trade strategies cryptocurrency


Day Trading Cryptocurrency – How To Make $500/Day with Consistency

Swing trading cryptocurrency is where you trade your altcoins by holding positions longer than a single day. That is the main difference between it and day trading, where you close your position before the day is over.

In this post, we will start by looking at how you can swing trade cryptocurrency successfully.

Swing trade strategies cryptocurrency

We will then discuss the benefits of swing trading as well as its risks. Read on to learn how swing-trading cryptocurrency can profit you, and how to execute it.

Swing Trading Cryptocurrency


Intraday Trades

Why Choose swing trading cryptocurrency

Well, as you will have gathered from other guides, the greater the price shift, the more profit you are going to make. Unfortunately, the intraday price shift is often small.

That is why day traders choose to do margin trading.

Swing trade strategies cryptocurrency

Increasing the volume of trade helps to magnify the smaller intraday price changes in order to increase profits or losses if things go wrong.

The big price range and shift does not mean you will always profit. The significant changes can cause you huge losses if they take a direction you did not anticipate. That is why you have to make use of trade instruments and watch the price trends closely.

You need to watch the market all the time to be able to make the right call when trading.

Furthermore, you must base all your trading action on the best swing trading practices and not your emotions.


Swing Trading Cryptocurrency

Best swing trading cryptocurrency Practices

20% price change

If you notice that your altcoin price has increased by say 20%, while other coins are going sideways, then you must sell.

That is because 90% of the time, the coin will drop by say 10% the next day.

The lesson here is not to be too optimistic when you see a positive price change that is defying expectations.


In case there is an important announce coming up the next day, then you should close your position 1 day before that announcement.

This strategy applies to all announcements that have an impact on those who use altcoins in their transactions.

These  include news events related major adult sites, altcoin platforms and cryptocurrency companies, and international payment processors.


You should never open a trade without including a stop-loss option. This option allows you to cut your losses automatically, before your losses become astronomical.

In summary, it allows you to decide how much loss you can take, before the trade automatically stops.

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Expert traders always include the Stop-Loss strategy in their trades.

The above three swing trading strategies will work consistently if you follow them anytime you have a swing trade in progress. All other swing trading cryptocurrency strategies will work at times, but not all the time.

However, they are still worth knowing and applying along with the ones we discussed earlier.


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Swing Trading Benefits

Easy Automation

Swing trading is easy to learn and execute, thanks to trading aids such as candlesticks, trading bots, and expert advisor software.

These help you to execute more trades faster and in significant numbers that you could manage manually. However, you need to start small and learn the ins and outs if the trade, before engaging in multiple swing trades.

Unlimited Options

In the traditional stock market, it is hard to do swing trades because of the time it takes to complete a trade.

3 Proven Swing Trading Strategies (That Work)

When swing trading cryptocurrency, there is no such limitations.

You don’t have to wait for 3 days to close a position before you can open a new one. That allows you to trade and profit from the hundreds of altcoins in various exchanges, within hours or even minutes.

Similar to Stock Market

Swing trading in cryptocurrency requires some of the skills used to profit in the stock market.

The only difference is that the periods are shorter, and in most cases, the brokers execute the trades immediately.

If you are disciplined, patient, and have some funds you can afford to lose, then the cryptocurrency market is right for you.


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Swing Trading Risks

It Can Hurt

You are going to make money some of the time, and lose money at other times.

Start trading with that in mind, and avoid trading on huge margins or leverage.

Most beginners find out the hard way when they use more leverage than they should, and then lose everything in a twinkle of an eye.

It is therefore best to limit how much funds you stake in each trade.

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In order to avoid financial ruin, you must use trading instruments that help swing traders to avoid huge losses.

As we mentioned earlier, one such tool is the Stop-Loss trading option. You must use it in every trade to caution yourself from unforeseen events.

Time Consuming

While swing trading cryptocurrency doesn’t require you to close your position on the same day, it is a live trading.

Easy Strategies for Beginners

You have no option but to watch how the markets are moving every hour, and act instantly.

It is the only way to cut losses, or make profit because of the cryptocurrency market’s high volatility. If you have a full time job while swing trading, you can easily wear out yourself.

Filing Taxes

Swing trading cryptocurrency doesn’t exempt you from any tax obligation you may have.

You therefore need to find out if you will be able to meet your tax obligations as a swing trader.

Most tax authorities such as the IRA expect you to pay taxes from the earnings you make after each trade. For example, you may make a profit in the first trade, and then fail to remit any tax.

If you make a loss in the next trade, the IRA still expects you to pay the taxes you owe from the first trade.

Conclusion- Swing Trading Cryptocurrency

As a trader, you should make continuous learning a part of your swing trading strategy.

Your journey to the crypto world starts right here.

Keep yourself updated with any new related to altcoins and the financial market.

Leading influencers such as Trump, well-known financial analysts, and even celebrities can have a huge impact on the cryptocurrency market.

That goes for both the positive and negative updates.

You also need to find the right platform for swing trading cryptocurrency.

We would recommend you go with Binance or any other platform that has established its credulity.

The bigger a brand is, the more the platform will be willing to protect your funds for the sake of the brand’s image.

Lastly, you need to always keep your funds in your hardware or mobile wallet if they aren’t locked in a trade.

Swing trade strategies cryptocurrency

It is the only way to avoid losing all your funds if anything happens to a trading platform.

Overall, the cryptocurrency market is highly volatile, which is why it offers a fertile ground for swing trading.

If you follow all the tips we have given you, swing trading cryptocurrency will profit you.

Swing Trading Cryptocurrency

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