Best Crypto Trading Tips and Tricks for Beginners | Guide to QFL Trading Strategy
Do you feel that the abundance of crypto trading tutorials somehow makes it more confusing and overwhelming? Although there is value in each crypto trading video, blog, or infographic on the internet, it is still essential to have focus and organization if you want to be among the crypto trading experts.
One of the most straightforward crypto trading strategies that you can focus on learning is the QFL trading method. Using this strategy, several traders have already had the chance to earn bitcoin and altcoins through the buy and sell of digital currencies.
(If you are interested to know what is QFL trading, you may check our previous post here.)
QFL Cryptocurrency Trading Tips:
QFL Crypto Trading Tip #1: Buy at a Price Below the Last Base Level
The QFL trading method is founded on the idea of buying below the base level. To know the base level or price level, you can examine the graph on your crypto trading platform and look for the price level that had been reached just before the coin price started to turn up again.
The concept of buying below the base level may look easy. Still, the problem lies in the method of catching the base. Can you look in front of your trading monitors 24/7 and be able to find all the drops in base levels across markets? Not.
Altrady can be used as a QFL trading platform because of its QFL base scanner feature that automatically monitors crypto markets and spots base levels.
QFL Crypto Trading Tip #2: Buy When There is Panic in the Crypto Market
One of the most valuable entry points in QFL trading is during panic sales. Panic happens when the majority of buyers and sellers in a specific coin market sell their crypto assets because of excitement and fear.
These levels are mostly profitable because a strong reaction from sellers during panic sales can drive the price of crypto downward which can then give you a good entry point.
QFL Crypto Trading Tip #3: Set a Target Selling Price
An ultimate crypto trading strategy requires a clear profit direction. How would you like to grow the amount of bitcoin or altcoin in your cryptocurrency wallet? Hopefully, you are not expecting them to grow overnight because QFL trading is not about greed and immediate profits.
One of the basic principles of QFL trading is selling on resistance levels or the highest price level that was reached in a specific period just before the price increase stopped and started going down again. But then, there is no 100% way of knowing or predicting the resistance level in the future; that’s why it is essential to have your target selling price.
There is no need to preoccupy your mind with questions about when a specific altcoin or bitcoin price will stop rising. Once you have set a target selling price, you could then efficiently work on your strategy and make the right decisions of when to sell or buy altcoins.
QFL Crypto Trading Tip #4: Sell During Rebounds
If you have bought a particular digital currency at a price below the base level, then it would give you a profitable advantage once the coin has bounced up. You will notice the rebound level on a crypto trading graph by observing the sharp upward price movement right after touching the base level. Rebound is basically characterized by a strong reaction from buyers, which drives the crypto price back up again.
It is advisable to watch out for large rebounds on the cryptocurrency trading chart so that you could sell at a relatively higher price and have a bigger chance for your sell orders to be filled. There is also a need to correlate such price increases with the crypto market buy and sell volumes to validate your trading decision.
QFL Crypto Trading Tip #5: Spread Out Buy and Sell Orders
To minimize your risks and increase your chances for profit, you can set ladderized buy and sell orders. This allows you to buy and sell cryptocurrencies in increments instead of going all out at once.
Buying in increments will let you catch a lower coin price in case there comes a further drop in the crypto market. In the same way, selling in increments will allow you to make more profits in case your coin experiences a further increase in price.
Setting limit ladder orders on buy and sell orders in your chosen cryptocurrency trading platform will let you buy or sell a certain digital currency at varying price points. Doing this can help you take advantage of the crypto market’s volatility, with prices often going up and down depending on different factors and circumstances.
QFL Crypto Trading Tip #6: Use QFL Base Scanner and Set Crypto Trading Alerts
It is impossible for any human being to monitor a couple of cryptocurrency trading graphs 24/7 for consecutive days. Because of this fact, it is also impossible to work on your QFL trading strategy without using an automatic QFL base scanner successfully.
The altrady multi-exchange API cryptocurrency trading platform features the Crypto Base Scanner tool which automatically scans thousands of cryptocurrency markets, monitors price movements, and spots base levels in real-time 24/7. With this crypto tool, you can have customized crypto trading alert settings that will give you instant notifications whenever a certain coin market experiences a significant price drop from the base level.
Receiving automatic crypto trading alerts will help you catch profitable entry and exit points that can eventually give you more profits. It will also reduce the risks involved in a volatile crypto market that is often caused by emotional trading decisions. By neutralizing your excitement and fear when looking at the charts on your QFL trading platform, you can effectively make the right decision that is based on accurate data that are collected and generated by our unique crypto trading algorithms.
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