Infographic: How to chose trading coin-pairs for Gunbot
Here are 5 steps for choosing trading coin-pairs. 1.) TOP VOLUME TRADED COIN-PAIRS FIRST The traded coin-pairs selected for trading must first have activity and a large traded volume at your exchange. 2.) UP-TREND COIN-PAIRS Save time and capital by only going for coin-pairs that are in an Up-Trend / Bullish market. Otherwise, prepare with Risk-Management strategies like a Stop-Loss or a DCA strategy to eliminate part of the losses from a Down-Trend market. 3.) CHECK THE COINS HISTORY AND REPUTATION Do some research before trading a specific coin. Due diligence is important, with a lot of exit-scams lurking around. 4.) "CHART" THE COIN-PAIR WITH TRADGINVIEW.COM Get down to Technical Analysis! Use a Price Charting tool like TradingView to plot, estimate, back-test and optimize your trading strategy before starting trading. 5.) LOOK-OUT FOR PUMPS-AND-DUMPS Regularly check your trading coin-pairs for out-off place market movements, like high spikes in price in very short periods