If you want an effective strategy without using bots or third-party intervention, here is a plan based on **smart manual trading** while minimizing psychological impact and making the most of market volatility. This strategy will focus on analyzing the market carefully and implementing thoughtful operations.
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### **Simple and Effective Manual Strategy for PROM Trading**
#### 1. **Fundamental and Technical Analysis (Combining Intelligence with Planning):**
- **Fundamental Analysis:**
- Follow news related to Prometeus. Announcements or partnerships can be an opportunity for profitable trading.
- Watch the general market: If the cryptocurrency market is in an uptrend, PROM is likely to follow the trend.
- **Technical Analysis:**
- Use 4-hour and daily timeframe candles to determine the general trend.
- Focus on the following tools:
- **RSI Indicator:** If the indicator drops below 30, buy. If it goes above 70, prepare to sell.
- **Moving Averages:** Use 50 and 200 period simple moving averages (SMA) to determine the trend.
- **Support and Resistance Points:** Identify the most important levels based on price history.
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#### 2. **Capital allocation and risk management:**
- Do not put your entire capital into one trade.
- Divide the capital into parts, for example:
- 50% for medium term investment (buy at support and wait until resistance).
- 30% for scalping during volatility.
- 20% reserve for emergencies.
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#### 3. **Manual Trading Strategy:**
- **Purchase:**
- At strong support points (where the price usually stops falling).
- After the price drops by 5-10% in one day (to take advantage of a quick bounce).
- **Sale:**
- At strong resistance points (where the price usually stops rising).
- When the price rises by 10-20% (depending on market analysis).
- **Stop Loss:**
- Place a stop loss order 5-7% below the entry point to protect capital.
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#### 4. **Exploiting daily fluctuations:**
- PROM, like other cryptocurrencies, often moves in specific ranges. Use strategies such as:
- **Scalping:** Buying and selling several times during the day with small gains.
- **Manual Grid Trading:** Set a trading range (e.g. between $4 and $5), buy when it approaches $4 and sell when it approaches $5.
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#### 5. **Reverse Trading:**
- If you notice that the currency always moves against your expectations:
- Try to enter in the opposite direction of what you planned, based on your analysis.
- Example: If you were going to buy at resistance, try selling instead.
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#### 6. **Emotional Management and Discipline:**
- Don't chase the market after its sudden move.
- Stick to your plan regardless of momentary changes.
- Record every trade: entry and exit point, profit or loss, and lessons learned.
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### **Practical example:**
- Current PROM price: $4.8
- **Support:** $4.5
- **Resistance:** $5.5
1. Buy at $4.5 in small quantities.
2. Sell at $5.5 to make a profit.
3. Place a stop loss at $4.3 to reduce risk.
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### **Additional Tips:**
- Monitor market movements on the Binance platform regularly.
- Take advantage of Binance's **Price Alerts** feature to remind you of important movements.
- If you want to improve or customize this strategy further, I'm here to help!
