📌 Best Strategies for Spot Trading for Beginners

Spot trading is the simplest and safest way to trade in cryptocurrencies, as you buy the currency directly and store it or sell it whenever you want. However, to increase your chances of success, you need to rely on clear strategies:

1️⃣ Dollar-Cost Averaging (DCA): It's not necessary to invest all your capital at once, spread your purchases to reduce risk.

2️⃣ Averaging Down: If the price drops, you can increase your purchases to lower your average entry and exit quickly once the market rises.

3️⃣ Using Support and Resistance: Identify strong areas on the chart (Support/Resistance) to know where to buy and where to sell.

4️⃣ Daily Scalping: Taking advantage of small movements in the sideways market to achieve quick profits.

5️⃣ And the most important; complete adherence to the previously established strategy without leaving room for emotions.

❓ What strategy do you rely on most in spot trading: dollar-cost averaging or scalping?

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