How should I choose a cryptocurrency for day trading?
Asked 4 years ago
I am wanting to use day trading as a strategy, but with cryptocurrency. There are more cryptocurrencies out there than I thought. What is the best way to go about choosing a cryptocurrency for day trading?
Andrew Moran
Monday, October 18, 2021
Well, there are more than 12,000 different cryptocurrencies to choose from, so the world is your oyster in this regard.
Now, when it comes to selecting what coins you want to day trade, you need to incorporate these factors into your strategy:
- Select digital tokens that possess high liquidity and high volatility.
- The Money Flow Index (MFI) is a technical gauge to measure the activity of the smart money (institutions) buying and selling cryptocurrencies (wait until it hits 100).
- Stick to the most popular cryptocurrencies with immense trading volume, such as Bitcoin, Ethereum, Ripple, and Tron.
In the end, be sure to only invest what you can afford to lose.
Please follow our Community Guidelines
Related Articles

Is Webull Legit and a Safe Trading Platform to Use?
Filip Dimkovski
May 25, 2021

The Best Appreciating Assets to Invest In
Filip Dimkovski
June 15, 2021

Fortrade: A Forex and CFD Trading Platform Review
Filip Dimkovski
July 23, 2021
Related Posts
Andrew Moran
Top Crypto Brokers
Andrew Moran
How to Use the VWAP for Day Trading
Taj Schlebusch
How to Find Stocks That Are Moving for the Day?
Filip Dimkovski
Are There Any Advantages to Daily Stock Checking?
Filip Dimkovski
What Is Winiford's Trading Specialty?
Can't find what you're looking for?