Tips and Strategies

There are two basic strategies when you want to trade Ether:

a. Buy and hold – Because of high volatility, many traders are accepting this approach. You can buy Ether from any exchange and store it in the wallet.

b. Active trading – Active trading with cryptocurrencies is tough as not all crypto exchanges offer the ability to set stop losses similar to Forex brokers.

However, there are few exchanges like Poloniex which allow you to set limit orders. If your exchange doesn’t allow you to set stop losses, you should set up alerts so that you can always be aware of the market movements and can trade manually. You need to search for the ETHUSD currency pair in the search box and add it to your watchlist. Once done, the chart will come up. Then right-click on the chart where you want to add an alert.

Another risk with Ether trading is that only a few exchanges allow you to store their money in local fiat currency. So, you will need to transfer your fiat money back to your bank account once you have sold your Ether. Then you would need to send the money back to the exchange to buy the cryptocurrencies again. You can use Tether to avoid such a problem as it is pegged to the US dollar, which is why one Tether will always be equal to the value of $1. You can trade your ETH with USDT and lock your profit. https://www.tradingheroes.com/how-to-trade-ethereum