AltcoinTrading.NET

Best Tools for Scalping

• Trading Platform: BitMEX
• Automation: 3commas
• Charting App: TensorCharts

Scalping Cryptocurrencies

In 2020, crypto markets are not profiled strongly towards either “long term trading” or “short term trading”. The crypto markets have a lot of both types of traders.

Often, crypto traders will resort to scalping during sideways markets situations.

• More on how to scalp crypto in ATNET Strategy

Formation Scalping

Formation scalping is a trading technique that leverages the regularity of market ranges.

This is a popular technique among Wyckoffian traders. They have a good hand on recognising market ranges.

Formation scalping allows them to earn additional profit on trading the sideways phase of the market before a trend is decided.

• More on Wyckoff ranges in ATNET Strategy

Automated Scalping

Scalping is regarded as one of the hardest trading techniques to steadily profit from.

Short-term trading is not more difficult and does not require more skill than longer-term trading. The reason is that the fast speed of trading takes a mental toll on the trader.

There are traders who relish in scalping the fast moving market, but it does take a certain specific personality.

By all means try scalping for yourself, if you think you might be one of them.

Alternatively, you still can capitalize on these fast, small trades by using a scalping bot. The trading automation platform 3commas would be a good place to start.

Best Charting App For Scalping Crypto

Your best tool for all short-term crypto trades are TensorCharts. TensorCharts split each candle into blocks that show the price levels at which most of the transactions took place. If you learn to work with this data, it can help you a lot with short term trading.

The information you get with TensorCharts is far more complete and granular than what you get from the standard candlesticks charts.

Read our list of tools for crypto traders for more free and freemium options.

More on Scalping

BLOG

Wyckoff Avoidance Strategy in Cryptocurrency Trading - Wyckoff method of avoidance means to trade only the best stocks in the leading sectors. How to apply this motto when trading cryptocurrencies?

How Crypto Trading Affects Your Mental Health (Positive and Negative Effects) - This blog post discusses the effects that trading has on your mental health. Including the positive effects, believe it or not.

Divergences in Crypto Trading (Divergence Cheat Sheet inside) - Divergence is a disagreement between price and an oscillating indicator such as MACD or RSI. It is not strong enough an indicator to enter a position, but it gives an idea of the state of the market.

STRATEGY

Multi-Timeframe Trading: The Real Skill (Or How to Not Spread Yourself Thin) - Why watching 5 timeframes simultaneously can make you money instead of break you. Position management for people who can actually read charts.

Technical Analysis: Stop Using It Wrong (It's Not Magic, It's a Tool) - TA doesn't predict the future. It reads probabilities. Here's why most traders use it backwards.

Wyckoff for Crypto Degens: Ranging Markets & the Art of Waiting - How smart money actually positions before the pump. Wyckoff method for crypto ranges—the only timeframe that matters for serious entries.