What is quick trading ?
Quick trading is a short term trade between two pairs available in market. Here we are not talking about Forex or Stock Trade. Our aim and concern for this tutorial is Crypto trading.
In Stock market Quick trading is also termed as Day Trading, where players are looking for short term profit instead of holding stock for long.
Lets come back to our main topic of Quick trading in crypto currencies. Is this going to give us benefit ? First of all we need a very active pair for such quick trading. For Ex: ETH_USD , ETH_BTC, BTC_USD etc
Once we decide which pair we are going to go for quick trading. Get some amount (coins) (decent amount give a decent margin, small amount possible get evaporated in trade fees). Lets choose ETH_BTC pair which is very much active.
Our selection for the trade is Binance Trade. Our readers can try on their trading site whichever they think good as per their own experience. Here in this tutorial we are using Binance Trade ( One of the top trading site in crypto currencies )
— STEP 1 —
Lets visit our pairing page ETH_BTC ( https://www.binance.com/en/trade/ETH_BTC )
— STEP 2 —
Just give little time to check what is the fluctuation price at that time. If it is going continuously down or up. Also check if there is any big order in the list. Lets understand these things by an image help.
- Red color figures are demand of sale price.
- Green color figures are demand of buying price.
Lets understand and see what is going on in trade with this image.
More green means price will rise , more sale means price will fall. Usually popular markets like BTC_ETH is having too much ups and downs. And we have to understand price fluctuation so we can play in between and earn our profit.
*** These images are taken at the time of tutorial while profit images are old at that time of trade. That is why change in trade price.
— STEP 3 —
Now we have to use these two boxes to place our order of buy and then order to sell. Technical term of trade ” Spot trading ” . This box below we use to place buy order.
This box below we use to place sell order.
— STEP 4 —
All we have to wait for the time when our sell price hits and filled our spot order. I made quick sell order to get small fraction of profit and finish this tutorial.
Many other quick profit trade i did before with different pairs.
*** Important Points ***
- Take less risky pairs for trading. Like ETH_BTC , BTC_USDT, ETH_USDT etc , Because if you started loosing on that day. Just keep patience and leave the trade for sometime and those pairs come back to profit again.
- Take a pair with less value but popular , in such pair your margin of profit is more. For Example : I am usually playing my trade with $50 – $100. If i bought ETH with that i will get very less amount. And obviously my profit will be less too. But if i buy a coin with less value like XRP or USDT or ADA then my margin of profit will be more with little rise too.
- If you found market down just after you bought that means u bought at the time of down trend. Don’t get panic just leave that time and come back after 2-3 hours. Usually market graph works like that buying / selling is a part of it. And Crypto trading is based on Speculation.
- Find you profitable pairs in upcoming news and select where u want to play.
- Make yourself calm , panic players mostly end with lost.
- Choose a pair with good popularity , it will not get effected with pump & dump groups.
- Always check if any coin is rising more than 60% what is the reason for its pump. If the coin is under value $0.001 then 99% its pump & dump issue. Dont jump in that pair at that time. Pump & Dump usually ends in 1-2 hours.