Learn Bitcoin Basics of Trade Strategies
For traders wanting to use strategies to trade the btcusd market there are a few other basics that a trader should know that will help to make the strategy being used become more successful.
After a trader has learned about technical analysis of indicators and the analysis of cryptocurrency charts, a trader will need to come up with a strategy. Trading strategy that a beginner trader uses can be based on the following most commonly used trade strategies in Bitcoin.
| MA Method |
Moving Average Method MACD Method |
MACD Method RSI BTCUSD Methods |
RSI Strategy Bollinger Band Method |
Bollinger Bands Strategy Stochastic Oscillator Bitcoin Methods |
| Stochastic Oscillator Strategy Method |
A trader can learn about basics of how to create a strategy by learning from the above examples strategies.
Once one has come up with their bitcoin crypto currency strategy, they should also include the following so that to make their bitcoin crypto currency strategy more successful.
1.Bitcoin Crypto Currency Trade Money Management Rules
2.Bitcoin Crypto Currency Trade Psychology
BTCUSD Trade Money Management Rules
Bitcoin equity management rules should be part of your strategy - the rules will help you to manage risk. This means that you will use the 2 rules of bitcoin money management - these are risk reward ratio and drawdown reducing method when placing your trades to determine the lot size that you will put in btcusd market. The most popular bitcoin equity management rule use in cryptocurrency & the one that you should also add to your trading is the rule that says that a trader should never risk more than 2% of account equity on any one single bitcoin trade.
To learn about these two bitcoin equity management rules traders should read the bitcoin equity management guide that is on the learn bitcoin lessons section of this web-site under the bitcoin key concepts lessons.
BTCUSD Trade Psychology Mindset
In order for one to become successful when trading the btcusd cryptocurrency market one has to learn about bitcoin crypto currency psychology. The bitcoin psychology or mindset which is needed to become successful in bitcoin trading is one that avoids the emotions of fear & greed while trading & is a mindset of total discipline that the trader will follow all their rules and their bitcoin strategy & only trade with signals which are generated by their strategy. With discipline one will not trade unless their trading system gives a signal. One will have the mindset of only following their bitcoin crypto currency system 100% all the time without second guessing the system. A disciplined trader will also not place trades in btcusd market just because the btcusd market has started to move up-wards or down, instead a trader will wait for a trade signal to be generated by their bitcoin strategy.
In order to learn more about bitcoin psychology & how to manage emotions while trading the btcusd market a trader can read the bitcoin psychology tutorials from the learn bitcoin lessons section of this web-site under the bitcoin key concepts courses.
