The Perfection in Crypto Market
Only one way to do it, you have to break into a trend break. The news is the perfect time for reversals, so you have to take advantage of it. Please note, this development may be temporary, the aim will therefore be to take advantage of the movement to the maximum but to follow its orders closely to take its profits in time if the prices are playing yo
Concretely, place your orders at the supports and resistances level. We can therefore hope that your orders will only be triggered in the event of a real market movement and not during the hesitation phase which precedes or follows the movement. Sometimes the scale of the movement is simply not enough to hit your orders. It’s normal, we can’t win every time either. Some news has relatively little effect on prices. Resist the temptation to open a position at any cost, the objective is to take advantage of large market movements. In addition, spreads are often high at the time of news, another good reason not to rush for fear of staying away from the market. From the ExenMarkets you can have the smartest choices now.
For example here, we could place a buy order at 102.4 and a sell order at 101.3.
Where to put your stops and limits? Specifics for news
- The uncontrolled evolution of the courses near the news does not exempt you from placing stops and limits. If the usual advice applies, there are a few rules to keep in mind when trading news:
- Spreads are higher, which means that an order will be hit faster than normal. It is therefore necessary to adapt your stops and limits and position them fairly broadly, so that they are not affected at the slightest movement.
- Prices move very quickly due to volatility, so don’t panic. If a stop threatens to be hit, don’t change it! The consequences could be even more dramatic than in normal times, imagine if a very large movement starts in the opposite direction to the position you have taken.
More than ever, it is necessary to place stops close to order (not too much anyway, that they do not trigger at the slightest movement) and distant limits. The news is THE perfect time to take advantage of large-scale movements. To secure your winnings, nothing prevents you from placing a trailing stop.