Crypto Swing Trading Summary (C11): Adapting

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The crypto landscape is still young and constantly changing.

What makes you money today may not work a year from now.

One of the keys to success when trading crypto, therefore, is adaptability.

A change in government regulations can have a huge impact on crypto. Entire exchanges can disappear during crackdowns.

You absolutely must keep up to date on local regulatory developments, as well as those in key jurisdictions such as the United States, China, and the European Union.

Social media is a good way to keep up with breaking news. There are a number of influencers who make it their job to do the research for you and give you the quick rundown of what’s going on in the world. But, as always with social media, you need to verify everything. If a number of independent and reputable sources are saying the same thing, then it’s worth taking notice.

The crypto space moves fast and you need to be constantly learning.

Learn about the underlying technology, future developments, and how these things may affect trading.

Many new trends are just that, short-lived trends, but every once in a while something comes up that is in it for the long run, and may even change the entire landscape.

Approach any new trend with both optimism and caution. Give all ideas a chance, but do your due diligence.

In the beginning, we only had Bitcoin. Although it is still the dominant currency, there is a much broader range of crypto assets with different technologies and use cases.

The creation of things like Stablecoins, Ethereum, Crypto EFTs, etc. shift the market structure. Asset correlations change, liquidity trends change, and price-changing variables are altered.

Institutional and government investment is becoming a lot more popular which will cause huge shifts. Likewise, global financial conditions will have a direct effect on crypto assets.

In order to stay on top of this fluid landscape, you need to incorporate adaptability into your trading strategy.

Take time every month to look over what is or isn't working and update your strategy to optimize wins. Additionally, test and incorporate ideas from others.

Constant learning is key.

Read the next chapter here.

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