The Best Crypto Day Trading Strategies For Beginners 

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This video introduces two day trading strategies for beginners, presented by Craig Percoco. According to Percoco, these strategies can help viewers grow their small trading accounts and achieve trading goals of $5,000 to $10,000 per month.

Trading Strategy Fundamentals

1. Thesis: Determine your trade objective, whether it’s identifying trend reversals or following trend continuations.
2. Trade Tools: Utilize indicators like EMAs (Exponential Moving Averages) and Fibonacci retracement tools to quantify entry and exit points.
3. Trade Criteria: Identify entry, exit, and avoidance signals to make informed trading decisions.

Continuation Systems

The focus is on following current market trends. A trend is defined by higher highs and higher lows (for an uptrend) or lower lows and lower highs (for a downtrend). Confirm trends using multiple points of contact and the break of structure.

Key Indicators

• EMAs: Use the 20, 50, and 200-day EMAs to indicate trend direction. The 20 EMA reflects the most recent price action, while the 200 EMA shows long-term trends.
• Fibonacci Retracement: Used to identify potential support and resistance levels during a trend continuation.

Strategy 1: Fibonacci and EMA Continuation

• Confirm the trend and use Fibonacci tools to catch retracement levels.
• Utilize the 20, 50, and 200-day EMAs for trend confirmation.
• Entry and stop-loss levels are based on previous price action and Fibonacci levels.
• Use the “Inevit Trade Pro Plus” indicator to highlight undervalued or overvalued price levels, aiding in entry and exit decisions.

Example

1. Identify a confirmed trend using higher highs and higher lows.
2. Apply Fibonacci retracement from the most recent low to high.
3. Enter trades at key Fibonacci levels (e.g., 38.2%, 50%, 61.8%).
4. Place stop-loss below significant support levels.
5. Use highlight indicators for potential entry and exit points.

Strategy 2: Fair Value Gap, Fibonacci, and EMA Continuation

• Identify fair value gaps (liquidity gaps) alongside Fibonacci retracement levels to increase trade confluence.
• Confirm the trend with EMAs and Fibonacci levels.
• Look for three-candle patterns indicating fair value gaps.
• Entry and exit strategies remain similar, with additional focus on fair value gaps for increased precision.

Strategy 3: Unicorn Continuation Strategy

• Combine multiple confluences for a high-confidence trade setup.
• Confirm trends with EMAs, Fibonacci levels, and fair value gaps.
• Look for price alignment with the 200-day EMA, Fibonacci levels, and fair value gaps.
• Manage risk by setting stop-loss levels below significant support and using multiple time frames for exit signals.

Conclusion

• Emphasize risk management and trend following.
• Use trading tools and strategies consistently to improve over time.
• Join the provided Discord community for additional resources and real-time trade ideas.

Disclaimer:
Tonraffles is not responsible for any investment decisions you make. Wishing you success and profitable returns from this potential market!