This is a short guide about trading cryptocoins. I created this guide for traders, a similar guide for investors will follow shortly.

The following is the guide. I trade on Binance the biggest and most secured in the world. Create an account with them.

1. The corresponding Coin (bitcoin or any of the altcoins) price must break a new high.

2. The price must then pull back (meaning dropped from the all time high)

3. It has to bottom out (bottom out is when it reaches it's lowest point before rising)

4. Therefore set a stop loss of 30% and hold for maximum 30 days.

5. Apply trailing stop loss, (meaning lock in profits on trades while also capping the amount to be lost if the trade doesn't work)

An example is the picture attached, one of my recent trades.

a. I entered a position on 15th May after drop has bottom out.

b. Refer to 12th - 13th May where price started appreciating.

c. Candle on 8th May is important as the daily low.

Happy trading!

Wonderful! This is more of a long term trading. I guess same strategy is applicable for short term trading using specific exit points?