As a company, we take great pride in Toscale’s’s trading software for Binance ability to accommodate investors and traders from a wide range of backgrounds. In this section, we’ll go through some real-world instances of how Toscale’s rules may be implemented. We’ll provide you with a virtual trading account to test your methods on, so you don’t have to risk any of your own money.
Having safety levels in place in case the market turns against you should be one of the first guidelines that each trader should follow. It’s often better to conclude a deal with a tiny loss than it is to hold onto a bunch of coins whose value is decreasing. Toscale’s cryptocurrency bot makes it simple to collect your preferred coins. All you have to do is specify the parameters within which you’d want to make a purchase. Before executing your purchase orders, Toscale’s will wait for those requirements to be met.
If you’re looking for a long-term investment strategy, don’t rush into purchasing amid a large rise in price.
Rather than collecting a coin in numerous orders, you may want to wait for a breakthrough. This indicates that the selling pressure is strong when the price fails to break above a given level for an extended period of time (and, from another perspective, buyers are not sufficiently convinced).
If a long-standing resistance is ultimately broken, the new trend may be quite strong. When an opportunity arises, you may easily seize it using Toscale’s trading software for Binance. The price level that must be broken in order to begin a new uptrend is not always as obvious. The most reliable sign of the beginning of a long-term uptrend may be determined by defining a percentage price increase. This can be used to establish a trend following strategy.
The FOMO trap is always a huge issue when trading on an already large price spike. This makes it riskier to get into a transaction at that point. On the other hand, the trend that emerges after a breakthrough might be so powerful that there is still time to profit from it in certain cases.
The trading platform
This “lost gain” is the price you pay for putting more faith in the underlying strength of the trend before you make the trade in the first place. Because of the strong correlation between altcoins and bitcoin, their short-term price movements are heavily influenced by it. If you take the right steps in this regard, you may both create great new trading chances and safeguard your coin bags against downturns that might have a significant impact.
Your wealth would have been safeguarded if you had sold at least some of your altcoin’s bags when Bitcoin breached the 6000 USD support level in November. Then you would have had the opportunity to put your savings into another asset class.
For example, if the price of Bitcoin is going to rise or fall, you may choose which coins you want to sell or acquire based on how the price of Bitcoin is going to fluctuate.