Good day! In the current video, I want to talk about trading cryptocurrency on vacation and while traveling. Is it worth trading or not? Is it better to take a break from work and relax or do some trading? I will answer all these questions below. Let’s get started!
How to trade crypto when traveling?
In the video “How to Reduce Stress for a Trader” I have already said that it is worth taking complete rest from trading digital money in order to recover morale. Therefore, if you go on vacation for 2 days once a month or 7-14 days once every six months, at this time it is better to completely refrain from trading.
It is advisable to fix everything in USDT or launch 3commas bots for automatic trading with a minimum percentage. But if you have open positions or you are an investor, you should sometimes keep your finger on the pulse in order to quickly sell or buy coins at a bargain price.
For this, smartphones iPhone or Android devices are better suited. In the same Binance or 3commas application, it is possible to quickly close your transactions, buy or sell tokens. It is also advisable to send notifications to TradingView when the price reaches the level you need to make a decision on a trade.
Seasonal movements in cryptocurrency trading
Another thing is when you go on a long vacation or travel from 2 weeks to several months. Or maybe you want to move to live in another country for some time or even a year. It will be inconvenient for a trader to carry monitors and a system unit with him. What remains? An iPad Pro laptop or tablet ideal for helping you trade while traveling.
It is worth taking into account also seasonal movements and changes in crypto trading. There are times when market volatility is above, normal, or below average. Although the digital money market operates 24 hours a day, 7 days a week, seven days a week, there is usually less market movement and trading on weekends and holidays.
Abnormal phenomena in cryptocurrencies
For this reason, when you go on a trip, make yourself a weekend getaway or holiday. For example, holidays such as the European and Chinese New Year’s or early June or July are the holiday season in most parts of the world. And on ordinary working days, you can periodically check the market so as not to miss interesting events in the market.
And of course, abnormal phenomena sometimes occur in cryptocurrencies. What it is? This is when sharp high volatility occurs in the market, many tokens quickly rise or fall in price. As a rule, such abnormal phenomena are caused by the serious economic situation in the world.
For example, the beginning of the coronavirus epidemic, so in mid-March 2020, all coins fell strongly or by its normalization, when in mid-to-late 2020 many tokens began to grow strongly. Such nuances should also be taken into account, regardless of whether you are trading at home now or are on a journey in order to save your deposit.
The video on the topic “Cryptocurrency trading on vacation” is completed. I have given you some advice on how to trade crypto when traveling or on vacation, how best to trade, and what factors should be considered. That’s all until new videos on botcryptotrade.com