In our latest video, we demonstrate how to effectively use altFINS signals (patterns) and how to Short Sell on Binance exchange.
Crypto market is clearly in a downturn. This is a normal part of the long term crypto market cycle.
Traders must adjust to these changes in cycle phases. Currently, looking for long (buying) opportunities is like looking for a needle in a haystack and buying dips is like catching a falling knife, it’s swimming upstream. The odds are against it.
Rule #1 in trading is “don’t fight the trend, trend is your friend, always trade with the trend”.
What can a trader do to make money in a downtrend? Short Sell.
That means doing the opposite of what we’d do in an uptrend. While in Uptrend, we buy dips, in a Downtrend, we Sell bounces.
In order for traders to be more versatile in any market, one must learn to Short Sell.
altFINS’s pattern recognition engine provides both Buy and Sell signals. Traders should have both (long and short) positions in their portfolio so they’re protected during big market swings. And during a downtrend, should be tilted in favor of Short positions.
To take full advantage of our unique pattern recognition system and signals, traders should master Short Selling.
What’s Short Selling? Normally, traders buy low then sell high. Now reverse that – Sell high then Buy lower.
Watch video to learn how it’s done on Binance.
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Risk management – Stop Loss and trade size. In all of these setups, traders should use Stop Loss orders to manage their downside risk, in case the trade goes against us, as it often will. is about probabilities and even though these setups have a high win rate, one must be prepared to minimize losses on the trades that go bust. If Stop Loss order types are not supported by they exchange, at least set up a price alert (see video). Also, trade size should be such that you never risk losing more than 2% of your total equity. Keeping the trade size small allows the trader to setup a wider Stop Loss, which gives the trade more room and time to complete with success. Setting Stop Loss levels too tight can often result in getting knocked out of a trade prematurely.
Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice. There are risks associated with investing in cryptocurrencies. Loss of principal is possible.