How to make quality trades
Posted by Ezdoubler Team
Trading here is easy, but making really good trades consistently might be a challenge. Here we share our tips on how to improve your trade quality, predict prices better and get more returns.
Frequent good predictions will help you move to the top of ratings and get more cash rewards from our automatic system.
Remember, all these basic tips cannot be considered as financial advice and are tailored specifically for this rewards platform. Make decisions based on your own calculations and at your own risk.
Follow the news
There is a reason why we have a convenient option to quickly read aggregate market news straight from the menu. The most recent crypto events are always at your disposal - just one click away!
Making reading crypto news a daily (even hourly) habit is a good idea. This helps you to know what general price direction to expect. Therefore, you will know if sudden price jumps and direction changes are just short-time volatility and you should carefully wait it out, or there is an opportunity to invest right away.
Follow the price
You should follow Bitcoin price regularly, not just when you are on the trading dashboard. Create a BTC/USD price ticker in your phone's notifications or set it as a homepage in your browser. This way you will always know what is happening with the price at any given moment!
Track your own performance
You can always check stats page to see where you stand in terms of total trades, profits and rewards. Statistics of each individual trade are listed as well. This helps you see your most common mistakes, as well as identify winner decisions!
Have a strategy
Make sure to set clear goals not only for profits or trade sizes, but general actions as well. Managing your bank and trading only when you feel confident is important.
Find a price direction switch
Some traders like to bet when the price changes direction.
For example, if the price has been falling for a while and suddenly the direction switches back up, it might be a good time to use a Call option as there is a good chance that there will be a small rebound in the next minute.
Don't be afraid of Put option
Did you know that on average people are more likely to use Call option over Put option? We looked at the statistics from 3 days and found out that even though the Bitcoin price decreased, people used 55% Calls and only 45% were Puts.
Pure psychology? Might be. But you can be smarter and tame Put options just as good as Calls.
Bitcoin price is very volatile even in extremely bullish runs. This means that you can always find a good
Watch the market mood
Market mood indicator at the bottom of the trading chart is a good helper. Do you see that there is a dominance of calls but the average returns are negative? Might bee a good signal that you should find a point to enter with a Put option instead.
Similarly, moments of high average trade bets show high general confidence. Maybe whales know what they are doing if they are so confident?
Talk with other traders
Do you have friends or referrals on Ezdoubler? Talk your strategies with them, share each other's journeys and you will earn more than just reading general advices!
Always keep trying and improving
Remember, market is sometimes very unpredictable and even the best traders make mistakes. Therefore, the best strategy after a few bad bets is to regroup and try again even harder! You will shortly see that with more experience your statistics look better and better!