Trading crypto with news
Before now I used to often pay less attention to news in the crypto sphere , yeah during that time I know the importance of news as a crypto trader but I just do not give it enough attention , I tend to always rely more and focus more on my trading strategies , so if the news do not correlate with the signals I am getting with my trading strategies, I tend to ignore such news..
Ignoring the news when doing crypto trading have really made me lose some profits on the crypto market , ignoring the news when doing crypto trading is one habit which I am really interested in stopping because it has done more harm than good for me...
For example there was a time I read a news about a wallet at a certain exchange receiving a very huge in- flow of bitcoin , at that moment I knew that there are possibilities that the owner of the wallet is planning to sell the bitcoin , and if he or she sells off the bitcoin , it would affect the price of bitcoin at that moment and as a person who is doing futures trading on the market , I should have followed my guts , guess what ? The bitcoin price dumped massively few hours later during that time and I lost on a buy trades which I opened , if I had paid attention to the news and followed my instinct , I would not have placed a buy trade when trading futures on the bitcoin market , I would have placed a sell trade instead and if I had done that, I would have made massive profits...
So it is important to pay great attention to news as a crypto trader , there are alot of news that can give you an idea about the direction that the market will go to at that moment or even in the future..
