Secret Crypto Trading Strategies
There are two ways you can get into active trading. One has a cost advantage, so it is good to get started with this. The second has an accuracy and professional advantage but the costs are significantly higher. It’s not always a simple choice between one and the other, but rather a case of growing from one and moving on to the next.
When you start off, it is best that you take the one that gives you the cost-benefit, this is assuming that you start slowly. If your initial foray into the market is between 5 and 10 Bitcoin, then going online would not be too obstructive. With that amount, you would probably conduct between three and five trades per day (24 hours). In this case, the online exchanges are absolutely fine.
The online exchanges and trading houses provide you with the ability to execute trades, as well as use trading tools to find buy and sell points. A few of the reputable intermediaries have this, and most of them are free if you place a certain minimum amount with them.
The other option is for you to stay away from the online trading platform and get the price feed you need from the Bloomberg Terminal. Bloomberg now offers real-time quotes for most of the major cryptos, and even some of the more recent ones. It is surprisingly extensive. When I first started using it, they only had the USD-BTC pair and over the last few years they have added most of the others. They also offer the ability to chart all the cryptos and even give you the flexibility to program your strategy directly from your feed. My current setup pulls the real-time feed from the terminal, which then gets fed into an AI algorithm that we have developed.
If you are considering taking this on with any level of seriousness, then you should not skimp on the equipment that you are going to need. If you do decide to go the Bloomberg Terminal route, then go ahead and get the T1 line put in as well. That way you are getting super-fast real-time feeds on pricing.
If you end up doing trades that are rapid-fire, and if you use an online system, even if you do have broadband, then you will end up having a lag time, which is not acceptable for any level of serious trading.
When I got into trading, I had no choice but to do it online, but jumped to BT as soon as they started to offer it. The speed of the T1 line and the accuracy of the prices allows me to execute rapid turnarounds and trade higher volumes in a day and to have higher frequency of multiple pairs. 90% of my trades are not manual, they are program trades, 5% are AI trades, and 5% are manual trades.
When you do program trades, the programs are scanning for opportunities across the market at a rate that is significantly more efficient than a human possibly could. This brings more trading opportunities to my attention, which increases my volume and my profit potential. I suggest you do the same.