The crypto market has been on the bearish side for a long while now with Bitcoin traded below $23,000 in the last 30 days while the total market cap of the crypto market has fallen below $1 trillion in the last 7 days.
Succeeding in this market will need a good knowledge of FA and TA, Dr. Ibubeleye MacDonald, CEO and Founder of D-online Harvest Academy said during Inside Blockchain session.
Fundamentals Analysis makes people want to buy crypto assets while Technical Analysis tells traders where to buy, Ibubeleye added.
Furthermore, the CEO explained that Fundamental Analysis includes using economic news and other parameters to decide on what to trade while Technical Analysis involves the use of information from a chart to make decisions.
In today’s bearish market, many exchanges and projects have initiated trading derivatives and futures since the market is down, Ibubeleye noted. However, she emphasized that it’s riskier than spot trading.
I don’t use one strategy when trading
When asked by Faith Ekuerhare of CryptoTvPlus about her strategy in trading, the D-online Harvest Academy boss said that she changes hers from time to time. “I focus on taking advantage of several opportunities and ways to make money trading and that’s why I have several methods”, she said.
Risk management in trading is not about applying stop loss and using limited sums of money to traders, Ibubeleye advised traders. It is “position sizing and not over leveraging your account,” she continued.
In essence, she shared that traders should analyse the amount they want to use for every trade as each trade is different from another. She emphasized that knowing when to go into a trade, when to come out, and taking profit while making profit are also vital.
Ibubeleye called on traders to always take profit as they are not trading in the same situation as institutional traders who can afford large liquidity.
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