Cryptocurrency trading fever has also brought along with it a number of trading strategies, some quite simple and some extremely complex and complicated. Usually, what is seen is that new traders start with some simple profitable trading strategy, a single one, and as they feel more comfortable and experienced going forward, they start to expand their horizon moving onto more complex things.
In this article we are trying to mention some very basic, the more beginner kind of you can say, simple profitable trading strategies with respect to new cryptocurrency traders. These are people who have just ventured into this niche. The reason we keep this simple is that, cryptocurrency in itself is quite a complicated field for basic understanding (as it involves IT, economics and finance) for people who are new to it, and the volatility of the market further adds to the miseries of these new crypto traders. You can move on to more complex profitable trading strategies, once you are hands on with these ones.
Simple Profitable Trading Strategy: The Best Ones
Once you are hands on with these ones, you can move on to more complex profitable trading strategies. Let us start with a few simple ones first.
1. Arbitrage: Arbitrage is perhaps the most simple profitable trading strategy, almost synonymous with cryptocurrency trading, and the one that is the first choice of almost all new traders. Arbitrage refers to the simultaneous buying and selling of some specific crypto on two different crypto exchanges, and leveraging out on the price differential between the two. Now there can be many permutations and combinations to this; like buying and selling on the same exchange at two different times, or using multiple cryptocurrencies etc., you just need to twist your options a bit.
2. Trading Signals and Trading Algorithms: Now this is something that we call the crypto bot. It combines trading algorithms and trading signals, and then carries out the trade on your behalf, when the time is ripe. So as a trader, you just need to specify your conditions, and the bot would do the rest. You can also place stop losses on both buy and sell orders, well in advance, so as not to breach your limit of affordability. It is one of the second most used and simple profitable trading strategies when it comes to trading with cryptocurrencies.
3. Hire an Expert: This is the third closest thing to a simple profitable trading strategy that is becoming popular day by day for cryptocurrency trading. People are hiring industry experts like executium.com and telling them all their trading needs, goals and constraints. Consequently, the team from the consultancy comes out with a ready-made trading solution, which the trader can carry out, or ask the consultancy to handle the operations part as well.
Who can Use the Simple Profitable Trading Strategy
The simple profitable trading strategies mentioned above can be used in combination or as stand-alone strategies, depending upon a trader’s choice. However, it can be used by anyone, new or old and seasoned or novice. However the third option, that is hiring companies like executium.com is gaining the fastest popularity among crypto investors to multiply their money easily.