Kavan Choksi: Top Crypto Trading Strategies

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If you want to come out ahead in crypto investments, Kavan Choksi emphasizes that you'll need a winning game plan, nerves of steel, and an intuitive trading platform. While numerous trading methods and platforms are available, the most popular day trading techniques are range trading and scalping. Kavan Choksi suggests using media platforms like eToro to replicate the moves of professional traders to give you a competitive edge.

 

Range Trading

Cryptocurrency will frequently trade for long periods within a narrow range. For 30 days, Bitcoin, for example, sold between $8,601.40 and $10,210. This ±9.4% range seems volatile until you realize that Bitcoin can realize a ±42% change in 24 hours.

 

Cryptomarket caps are small enough for a single big mover to manipulate the whole market. Those movers may sometimes systematically influence the price of a coin up and down to profit from a range. Kavan Choksi recommends taking advantage of these trends for maximum profitability.

 

You must pay attention to overbought and oversold zones if you are range trading. An overbought status indicates that the demand has been met, and the stock will likely sell off; oversold suggests the opposite. You can find these zones using chart indicators, which are included in any credible stock chart program.

 

Scalping

Scalpers benefit by taking advantage of increased trade volume. Scalpers can leave a deal seconds after entering it, and many employ automated bots to make their cycles more frequent.

 

Kavan Choksi notes it is advantageous to have a large bankroll to take advantage of this incredibly short-term day trading crypto approach. Although the ROI of each trade can be small, risking a large amount means the scalp receives a significant amount of money (0.5 percent of $100,000 is $500, which is enough for a luxury car payment). Up to 10-20 trades per minute — trading frequently means that small gains add up.