Create a commercial strategy for Ethereum Classic (ETC): Starting Guide
The cryptocurrency trade has become increasingly popular in recent years, and millions of people from all over the world have invested and buy cryptocurrencies such as Bitcoin, Ethereum and others. However, since there are so many options available, it can be difficult to navigate and make sound decisions about which one to buy or sell.
One of the cryptocurrencies that have recently received considerable attention is Ethereum Classic (etc.). This decentralized, open source blockchain platform was launched in 2016 and is attracted to Bitcoin’s viable alternative. ETC’s unique properties, such as the presence of an intelligent contract-based network architecture and a large and active community, offer an attractive investment opportunity.
In this article, we will provide step -by -step guidance on the establishment of Ethereum Classic (ETC) trading strategy. We cover everything from the account setting and the choice of the right tools to analyze market trends and to identify possible entry points.
Step 1: Set your account
For the beginning, you need to register an online trading platform that supports it, etc. Some popular options are as follows:
- Binance
- Coinbase
- Kraken
- Huobi
Once you have selected a platform, create an account with the information you need, such as your name, E -Mail address and password.
Step 2: To select the trading platform
It is time to set your account to select the commercial platform that best suits your needs. Note those factors like:
- Charges: Find platforms with competitive fees, especially for small transactions.
- Liquidity: Make sure the platform has a high market volume and quick execution time.
- Safety: Choose a reputation of a reputation that uses robust security measures to protect your accounts.
Step 3: A etc. Setting a Trade Account
Once you have selected the trading platform, follow these steps:
- Open your account on the platform.
- Deposit funds for your account with a payment method such as credit/debit card or bank transfer.
- Finance your account with sufficient amounts of Ethereum Classic (etc.).
Step 4: To select your commercial strategy
The successful ETC trade strategy includes understanding market trends, analyzing technical indicators and making decisions based on data.
Here are some key concepts to keep in mind:
* Market analysis : Study historical price diagrams, volatility and emotions to identify potential entry points.
* Technical indicators : Use tools such as moving averages, RSI and Bollinger bands to assess market momentum and identify shopping or selling opportunities.
* Basic Analysis : Understand the causes behind the value of ETC, such as the dynamics of supply and demand.
Step 5: To identify potential entry points
Find the following indicators for the potential entry point:
- Support Levels : Identify areas where prices have returned earlier, indicating strong purchase pressure.
- Resistance Levels : Find areas where prices have crossed earlier, suggesting that sellers are preparing to push higher prices.
- Market trends : Analyze the etc. General tendency and identify a possible change that may indicate the potential entry point.
Step 6: Set up the downsight losses and position size
Once you have identified an entry point, set the stop losses and positions based on risk tolerance and investment goals:
- Set the stop loss
: Identify the price level you are willing to sell if you move against the market.
- Position size : Calculate how much of your account balance you can afford to lose your trade.
Step 7: Manage the risk
As with all commercial strategies, it is essential to manage the risk:
1.
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