What are the best moving average settings for day trading cryptocurrencies?

3 answers

• May 07, 2022 · 3 years ago
  Moving averages are commonly used technical indicators in trading. They help smooth out price data and identify trends by calculating the average price over a specific period of time. For day trading cryptocurrencies, the best moving average settings depend on the trading style and time frame you prefer. Generally, shorter moving averages like the 10-day or 20-day moving averages are popular for day traders as they provide more timely signals. However, it's important to note that there is no one-size-fits-all answer. It's recommended to experiment with different settings and see what works best for your trading strategy.
  628

  314
• May 07, 2022 · 3 years ago
  Alright, here's the deal. Moving averages are like the cool kids of trading indicators. They smooth out all the noise and give you a nice, clean line that represents the average price over a certain period of time. When it comes to day trading cryptocurrencies, you want to use moving averages that are short and snappy. Think 10-day or 20-day moving averages. These bad boys will give you quick signals and help you catch those short-term trends. But hey, don't take my word for it. Give it a shot and see what works best for you!
  531

  177
• May 07, 2022 · 3 years ago
  When it comes to day trading cryptocurrencies, finding the best moving average settings can be a bit tricky. Different traders have different preferences, and there is no one-size-fits-all answer. However, based on my experience at BYDFi, a popular cryptocurrency exchange, many day traders find success using the 10-day and 20-day moving averages. These shorter time frames provide more timely signals and help traders catch short-term trends. Remember, though, it's important to backtest and adjust your settings based on your own trading style and risk tolerance.
  566

  142