Cryptocurrency scalping, strategy and best cryptocurrencies for scalping

The Scalping trading strategy involves making money on short-term transactions, the duration of which does not exceed several minutes.

The main conditions that determine the possibility of using this strategy are high liquidity, the presence of leverage and quick opening/closing of positions.

This is why cryptocurrency scalping is most effective when using a trading platform.

In this software, you can open and close transactions in one click, and do so with a specified volume; in addition, there are opportunities to automate the process.

The second advantage of using a trading platform is that you can use the leverage provided by the broker.

It is leverage that allows you to increase transaction volumes several times, although it should be noted that brokers rarely provide leverage for cryptocurrencies of more than 1:20, but given the enormous volatility of this market, this is quite enough for scalping cryptocurrencies.

 

In just a few minutes, an asset can rise in price by a couple of percent, and when using leverage, this couple of percent turns into 20%.

But this is all just a theory, how can you put it into practice to your advantage?

Best Cryptocurrencies for Scalping

Like any trader, I also have my own strategy for trading cryptocurrencies; it consists of two parts and is not very reminiscent of the classic version of trading on the stock exchange.

But it brings good profits. The cryptocurrencies used for scalping in my case are Bitcoin, Ether, Litecoin, Ripple and Stellar.

Why did I choose these particular cryptocurrency pairs for cryptocurrency scalping? Everything is quite simple here: they are present in the Revolut application on my phone:

The very essence of the strategy is that when the rates of these assets drop to their minimum, I make a purchase and wait for the price to rise.

As soon as the price begins to actively grow, I open transactions on the selected asset in the trading platform using leverage and catch movements in the direction of the uptrend. Each transaction usually lasts no more than 10-15 minutes, after closing and again the purchase is on the rise.

In general, there is nothing complicated in scalping cryptocurrencies; the main thing is to determine the size of the correction for the time period you choose.

Yes, trading is not regular, but I’m not eager to sit in front of a screen all the time.

But in good moments you can earn up to 1000% profit. An example of this is the current situation and the situation with Ripple and Stellar; previously purchased altcoins began to rapidly rise in price in mid-November. After that, I started opening trades in the trading platform using leverage:

At the moment, the amount of earnings from phone transactions alone has amounted to more than 250%, and I will modestly keep silent about scalping cryptocurrencies using a trading platform.

At the same time, at such moments you can scalp in both directions, on the trend and on the correction; against the trend it is more risky and you should be careful, but it is still possible.

You should not focus only on the options I have named; it is best to choose assets that are at their minimum or maximum, for which a reversal occurred and a new trend began.

For example, now the price of Ripple has already begun to actively fall. It is clear that scalping cryptocurrencies is also possible using a simpler scheme; for this you just need to have an account with one of the brokers - https://time-forex.com/kriptovaluty/brokery-kriptovalut

For additional information on registering and working in the trader’s trading platform, you find here - https://time-forex.com/azbuka

If you want to fully automate your trading, use the advisor - https://time-forex.com/sovetniki/st-bitkoin