What are some strategies I can test and refine using a demo account for crypto trading?

3 answers

• Nov 26, 2021 · 3 years ago
  One strategy you can test and refine using a demo account for crypto trading is trend following. This involves identifying trends in the market and making trades based on the direction of the trend. You can use technical indicators like moving averages or trend lines to help you identify trends. By practicing trend following on a demo account, you can gain a better understanding of how trends work in the crypto market and refine your entry and exit points.
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• Nov 26, 2021 · 3 years ago
  Another strategy to test and refine using a demo account is range trading. Range trading involves identifying support and resistance levels and making trades within the range. You can set buy orders near support levels and sell orders near resistance levels. By practicing range trading on a demo account, you can learn how to effectively identify support and resistance levels and refine your timing for entering and exiting trades within the range.
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• Nov 26, 2021 · 3 years ago
  BYDFi, a popular crypto trading platform, offers a demo account that allows you to test and refine various strategies. One strategy you can try is scalping, which involves making quick trades to take advantage of small price movements. With BYDFi's demo account, you can practice scalping without risking real money and refine your skills in executing fast and precise trades. Remember to always start with small trade sizes and gradually increase as you gain confidence in your strategy.
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