How to day trade crypto with terminal

What is a terminal for trading cryptocurrency?

When trading cryptocurrency on any of the cryptocurrency exchanges, the trader notices that there is a lack of convenient built-in tools in the interface. If he has to trade on different platforms, he constantly jumps from one window to another. To avoid this problem, traders use convenient trading terminals.

Now, when trading traditional assets, traders do not have to make such a fuss, and quietly trade through the trading terminals. They were especially popular in 2017, with the rapid development of the crypto market, but their beginning trading terminals, take place since 2013.

Trading terminals often use a common strategy – day trading. Participants in such trading are called – day traders. Day traders are active in most financial markets such as stocks, forex, commodities and, of course, cryptocurrency markets. Day trade crypto is particularly popular on the CScalp terminal, so not many words about this popular terminal.

CScalp trading terminal

Fans of scalping – a kind of intraday speculative trading strategies with a very short position holding period – will love the CScalp trading terminal. The main CScalp audience are scalpers, so the interface design is aimed at showing tumblers and deals. The terminal allows to open up to 40 charts simultaneously. Charts are equipped with toolbar, where you can select the timeframe, use the indicator „min/max in 2 days“.

The terminal supports a standard set of orders without frills – limit, market and stop orders.

Since scalping requires very fast trading, CScalp has taken care of technical support of the fast connection with the exchange. CScalp has built-in proxy servers that users can use if they can’t connect their own proxy server.

How do Day-Traders earn?

Successful dey-traders have a deep understanding of the market and a lot of experience. Usually, they use technical analysis (TA) to trade. They use indicators such as volume, price action, chart patterns and technical indicators to determine entry and exit points.

As with any trading strategy, risk management is essential to success in day trading.

This strategy involves looking for assets with high trading volume triggered by announcements or news and taking advantage of a temporary spike in trading activity.

Day traders seek to profit from market volatility. Thus, volume and liquidity are crucial for day trading. Day traders need good liquidity for fast and efficient trades. This is especially true when exiting a position.

A large slippage on just one trade can have devastating consequences for the day-trader’s trading account. This is why day traders usually trade highly liquid market pairs.