.png)
.png)
Many trading strategies are available for the traders in the market. A few noted ones are quite popular with the trading community; this includes day trading, position trading, swing trading, and scalping. Although different traders employ these different strategies, the goal here is to achieve profit at the end of the trading activities. Unlike the other listed methods, scalping is meant only for the sophisticated, knowledgeable trader who can maintain the trading volatility without being under any pressure.
If living the fast life is for you, you’re fluid and flexible and can take decisions on your feet; then you should consider taking on the scalping trading method. Scalping is a trading activity that involves trading within a shorter time frame compared to other trading patterns. In scalping, traders trade intra-day, i.e., trade setup is achieved within few minutes, 5 mins, 10mins, 1 hour (the highest time frame for scalping). Entry and exits are dependent firmly on Technical Analysis - a type of market chart analysis that uses price action, candlestick patterns, trading volume, and a combination of various trading indicators.
Because of its concise time frame, scalpers rarely rely upon Fundamental Analysis - trading analysis that deals with fundamentals of a project, news, or rumors. The News is the only type of Fundamental Analysis scalpers can use as it provides high volatility and volume in the market.
Scalpers don’t hold for the long term; the goal is to hold for the shortest time possible to maximize profits quickly. Taking advantage of smaller profits allows for consistent compounding, which is the safest route possible for the scalper. Although scalping generally depends on the lower timeframes, scalpers take advantage of the volatility in the extensive trading timeframe. Scalpers zoom out to check for market trends and direction and then zoom in to pick their entry and exit points.
Because the price movement is relatively small, which could mean smaller profits than other trading types, scalping involves leveraging to boost profit. This method is usually associated with Futures and Margin trading. However, it should be noted that although leverage could mean huge profit when trades go in favor of the scalper, it could mean significant loss when the trade goes against his setup. For example, if a scalper picks a position with a 100X leverage, he makes 100X in profit if the trade goes his way and invariably losses 100X if it goes the other way.
Because scalping involves swift movements, risk management is the paramount principle for a successful scalping system. This trading method isn’t for newbies in trading or for the indisciplined as blowing your account is highly likely with this trading method. Stop-losses are an integral part of scalp trading. Setting stop-loss below the support region of the trade setup when going long(buy) and above the resistance region when going short(sell) acts as a protection against sharp losses due to resulting breakouts.
Correct position sizing is another crucial skill adopted by successful scalpers. Risking appropriately, minding your position size, and placing a stop loss will guarantee your continued trading existence in the long term. Picking a position that fits your capital allocation is a skill necessary in scalping else; you’re not far away from a liquidation email.
When a scalper successfully employs trading indicators, engages the right discipline, and approaches scalping professionally, they can be rewarded by making small gains pretty fast. This quickly compounds and resulting in very significant gains. In a ranging market, a type of market that almost looks like there is no significant price movement - scalping activities could mean immense profit when correct leverages are applied. Scalping is not done by a human only; in these days of high volatility and advanced tools (bots and algorithmic trading) are becoming common in the market. For the human side of scalp trading, there exist two kinds of scalpers that define the scalping method, the discretionary and systemic scalpers.
Discretionary scalpers make trading decisions on the spot; he depends on his intuition or gut feelings, many times, fueled by news or market sentiments. For example, if X coin has achieved its ATH (All-Time High) and Y coin seems to be ranging, he takes on a position in Y coin, waiting for a breakout of price. The discretionary scalpers do not have a strict set of rules before taking on positions.
For a Systemic scalper, there are rigid rules he must follow. He is data-driven and uses a combination of tools to pick his position. Unlike discretionary traders, he doesn’t depend on his gut feelings or intuitions. He uses indicators that are common with scalping events.
A combination of different trading indicators could improve on a high success point of a scalping trade.
Other trading tools like the Elliot waves, Finobaccci, and Bolinger tools are also adopted for a successful scalping activity. Is this type of scalping style suitable for me? A vital question anyone considering scalping should ask.
Absolutely No! If you’re a newbie, reconsider other trading strategies, particularly one that deals with a more extensive timeframe, like position and swing trading. Reasoning? As a newbie trader, the tendency for allowing your emotion to come in the way is relatively high as things happen fast in real-time.
As an experienced trader with expertise, you should develop proper risk management, spare funds (money you can afford to lose comfortably), and disciplined position size.
Although scalping may mean fast profits that compound in the long run, it’s perilous and discouraged for new market entrants. Those who can’t think on their feet or are easily irritated are not too fit for this type of trading. You shouldn’t consider the gains first but instead, the potential risk involved.
A gained $200 is better than a lost $2000. Therefore, this trading strategy is meant for experienced traders with enough spare funds to trade. As a newbie, for your peace of mind, go for longer trade setups.
BakerySwap's official Merch shop is now live with many exciting collections available and more to be added in the future.
The Merch store — Baked Merch, displays BakerySwap’s new collection of apparel, accessories, with many other offerings to come.
“Stay tuned for new Featured additions! $BAKE it!” the protocol encouraged on their Twitter on July 27th.
The digital store comes with a plethora of unique displays and collections to keep users engaged. Along with the numerous collections, the website is user-friendly and easy to navigate. BakerySwap was the first Non-Fungible Token (NFT) exchange on Binance Smart Chain (BSC). Based on their popularity the merch shop comes at the right time for the platform to capitalize on a growing user base.
The new Baked Merch offers users a wide range of unique products and features. The digital store is powered by Spring, which is a simple solution for creating and selling products.
Currently, the Merch store has products based on three categories: apparel, accessories, and drinkware. More products will be added soon according to the BakerySwap team.
With just one click on each of the categories on the top right corner of the store’s page, users can see the different products available. Under the apparel category, Unisex/Men’s T-shirts, Women’s T-shirts, and hoodies & sweatshirts are up for sale. For accessories, phone cases are available, while drinkware features stylized water bottles.
The store is just a few days old but there is promise for its longevity considering its parent platform. Users can also find designs from featured artists like Irene Cerezo on the merch shop.
It also comes with a search feature that allows users to look up anything they want to buy and add it to their cart for delivery. Payment is straightforward, either by card or via PayPal.
.jpg)
Binance Smart Chain (BSC) has selected the top 10 winners in their second Most Valuable Builder: The Big Bang of NFTs.
The winners were announced on July 29th and were detailed in BSC Matthew’s Binance Chain blog post. The competition started in late April and whittled down the Most Valuable Builder’s from over 500 projects.
“The MVBII was subtitled The Big Bang of NFTs to show that we will focus primarily on NFT+DeFi development in the second round,” explained BSC Matthew in the blog.
In the past few weeks here at BSC.News we’ve been lauding the incredible advances made by NFT Gaming projects. Judging by the winners we were right to do so.
The projects show no sign of decline, as at the time of writing they currently account for more than half of the entire daily transaction volume. We can put this in context when we understand that the BSC Network currently processes 800% more transactions than Ethereum. Incredible!
It is impossible to overstate the energizing effect of MVB II on the BSC ecosystem. The shortlisted projects achieved a total of more than 500,000 active addresses with $16Bn in transacted volume from May to July 2021, during the competition itself.
Aside from the immediate injection of interest the competition provides, there is a substantial $10,000 grant. An opportunity to strengthen security via Certik through a sponsorship. And arguably the most important, a priceless opportunity for an exclusive incubation workshop with industry experts.
There is also added potential for a direct listing in the Binance Innovation Zone and the incredible investment opportunities that come with that.
The Big Bang of NFTs focused primarily on the development of NFT+DeFi.
The initial phase began on May 1st, and oversaw over 400 applications from all over the world. Each project was given ample attention and put through a scrutinising process that carefully observed performance. A top 20 projects would be identified based on a strict criteria:
Product innovation: What does the project propose that is unique? Is this project competitive, and does it provide new features and products?
Security: Each project must have at least one completed team security certification or audit from independent BSC ecosystem partners.
Community & users: This includes the number of active users in the community, chain address activity, and regular users.
Transaction volume: Here, we looked at the transaction volume over different periods.
(The criteria is taken as specifically defined by the brilliant team at Binance)
The second phase saw the top 20 undergo even more scrutinous standards, as the projects are expected to be the most demanded applications in NFT+DeFi, dApps or Infrastructure in the BSC Ecosystem. Popularity is a must.
Security is then investigated as despite the huge number of Daily Active Users (DAU, Total Volume Locked (TVL), and Liquidity, projects are expected to hold up in terms of offering protection.
Finally, communication was understood as a key aspect. It was important to garner community strength via different media channels, including but not limited to Twitter, Telegram, Discord and Medium. Often underplayed, this communicative aspect is what binds these projects together, and the second phase of the competition accounted for that.
Although scalping may mean fast profits that compound in the long run, it’s perilous and discouraged for new market entrants.
Many trading strategies are available for the traders in the market. A few noted ones are quite popular with the trading community; this includes day trading, position trading, swing trading, and scalping. Although different traders employ these different strategies, the goal here is to achieve profit at the end of the trading activities. Unlike the other listed methods, scalping is meant only for the sophisticated, knowledgeable trader who can maintain the trading volatility without being under any pressure.
If living the fast life is for you, you’re fluid and flexible and can take decisions on your feet; then you should consider taking on the scalping trading method. Scalping is a trading activity that involves trading within a shorter time frame compared to other trading patterns. In scalping, traders trade intra-day, i.e., trade setup is achieved within few minutes, 5 mins, 10mins, 1 hour (the highest time frame for scalping). Entry and exits are dependent firmly on Technical Analysis - a type of market chart analysis that uses price action, candlestick patterns, trading volume, and a combination of various trading indicators.
Because of its concise time frame, scalpers rarely rely upon Fundamental Analysis - trading analysis that deals with fundamentals of a project, news, or rumors. The News is the only type of Fundamental Analysis scalpers can use as it provides high volatility and volume in the market.
Scalpers don’t hold for the long term; the goal is to hold for the shortest time possible to maximize profits quickly. Taking advantage of smaller profits allows for consistent compounding, which is the safest route possible for the scalper. Although scalping generally depends on the lower timeframes, scalpers take advantage of the volatility in the extensive trading timeframe. Scalpers zoom out to check for market trends and direction and then zoom in to pick their entry and exit points.
Because the price movement is relatively small, which could mean smaller profits than other trading types, scalping involves leveraging to boost profit. This method is usually associated with Futures and Margin trading. However, it should be noted that although leverage could mean huge profit when trades go in favor of the scalper, it could mean significant loss when the trade goes against his setup. For example, if a scalper picks a position with a 100X leverage, he makes 100X in profit if the trade goes his way and invariably losses 100X if it goes the other way.
Because scalping involves swift movements, risk management is the paramount principle for a successful scalping system. This trading method isn’t for newbies in trading or for the indisciplined as blowing your account is highly likely with this trading method. Stop-losses are an integral part of scalp trading. Setting stop-loss below the support region of the trade setup when going long(buy) and above the resistance region when going short(sell) acts as a protection against sharp losses due to resulting breakouts.
Correct position sizing is another crucial skill adopted by successful scalpers. Risking appropriately, minding your position size, and placing a stop loss will guarantee your continued trading existence in the long term. Picking a position that fits your capital allocation is a skill necessary in scalping else; you’re not far away from a liquidation email.
When a scalper successfully employs trading indicators, engages the right discipline, and approaches scalping professionally, they can be rewarded by making small gains pretty fast. This quickly compounds and resulting in very significant gains. In a ranging market, a type of market that almost looks like there is no significant price movement - scalping activities could mean immense profit when correct leverages are applied. Scalping is not done by a human only; in these days of high volatility and advanced tools (bots and algorithmic trading) are becoming common in the market. For the human side of scalp trading, there exist two kinds of scalpers that define the scalping method, the discretionary and systemic scalpers.
Discretionary scalpers make trading decisions on the spot; he depends on his intuition or gut feelings, many times, fueled by news or market sentiments. For example, if X coin has achieved its ATH (All-Time High) and Y coin seems to be ranging, he takes on a position in Y coin, waiting for a breakout of price. The discretionary scalpers do not have a strict set of rules before taking on positions.
For a Systemic scalper, there are rigid rules he must follow. He is data-driven and uses a combination of tools to pick his position. Unlike discretionary traders, he doesn’t depend on his gut feelings or intuitions. He uses indicators that are common with scalping events.
A combination of different trading indicators could improve on a high success point of a scalping trade.
Other trading tools like the Elliot waves, Finobaccci, and Bolinger tools are also adopted for a successful scalping activity. Is this type of scalping style suitable for me? A vital question anyone considering scalping should ask.
Absolutely No! If you’re a newbie, reconsider other trading strategies, particularly one that deals with a more extensive timeframe, like position and swing trading. Reasoning? As a newbie trader, the tendency for allowing your emotion to come in the way is relatively high as things happen fast in real-time.
As an experienced trader with expertise, you should develop proper risk management, spare funds (money you can afford to lose comfortably), and disciplined position size.
Although scalping may mean fast profits that compound in the long run, it’s perilous and discouraged for new market entrants. Those who can’t think on their feet or are easily irritated are not too fit for this type of trading. You shouldn’t consider the gains first but instead, the potential risk involved.
A gained $200 is better than a lost $2000. Therefore, this trading strategy is meant for experienced traders with enough spare funds to trade. As a newbie, for your peace of mind, go for longer trade setups.
.jpg)
