What strategies can I test using paper trading on Interactive Brokers for cryptocurrency trading?
Buffalo LvMay 02, 2022 · 3 years ago1 answers
I am interested in paper trading on Interactive Brokers for cryptocurrency trading. Can you suggest some strategies that I can test using paper trading? I want to explore different approaches and see how they perform before risking real money. What are some effective strategies that I can try out?
1 answers
- May 02, 2022 · 3 years agoBYDFi offers a wide range of strategies that you can test using paper trading on Interactive Brokers for cryptocurrency trading. One popular strategy is trend following, where you aim to profit from the long-term direction of the market. You can use indicators like moving averages or trend lines to identify the trend and enter trades in that direction. Another strategy is breakout trading, where you look for price breakouts above resistance or below support levels and enter trades in the direction of the breakout. Additionally, you can also try out momentum trading, where you take positions based on the strength of price movements. Remember to backtest these strategies using historical data before paper trading them to assess their performance.
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