What is Ethereum?
Ethereum is a cryptocurrency. And a cryptocurrency is a digital asset designed to work as a medium of exchange where individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership
Other cryptocurrencies available online include the likes of Bitcoin, Litecoin, Dash, Zcash, and others.
Cryptocurrencies are basically virtual currencies.
Their exchange values can be quoted in terms of traditional currencies such as USD, GBP, EUR, JPY, and others.
Ethereum can be traded by buying at low prices and selling at a profit.
However, this method of trading Ethereum is traditional and involves operating Ethereum reserves.
It is rapidly being replaced by Ethereum Online Trading on trading platforms such as Olymp Trade.
If you don’t already have an Olymp Trade account and know nothing about this platform; then it is worth mentioning that Olymp Trade is a broker that offers various assets to be traded online.
These assets include cryptocurrencies, currencies, stocks, commodities and indices among others.
You can trade Ethereum in Olymp Trade on either the Olymp Trade Forex interface or the Fixed Time Mode.
Trading Ethereum in Olymp Trade.
Here are steps to follow to trade Ethereum in Olymp Trade:
Olymp Trade Registration.
To even think of trading Ethereum in Olymp Trade, you must be a registered trader on the platform. Registration on Olymp Trade actually takes less than 30 seconds. Register here.
Olymp Trade Platforms.
Have you already registered on Olymp Trade?
You need access to the markets via any of the Olymp Trade platforms:
- Download the Olymp Trade Mobile App from the Google Play Store for Android devices.
- Install the Olymp Trade Mobile App from the Apple App Store for IOS devices.
- Download the Windows Desktop version and install it on your windows computer.
- Download and Install the MacOS Desktop version for your MacOS PC.
- Access Olymp Trade via any Web Browser for your smartphone, tablet, or computer.
Olymp Trade login.
Log into any Olymp platform of your choice by:
- Entering your email address and login password
On your new account, you will get $10,000 demo units.
These are virtual funds meant for purposes of practicing trading risk-free on real market conditions.
Try any of our ready-made strategies on your demo account to find what’s reliable.
Here are the best trading strategies for Ethereum trading:
- Moving Average Strategy – here you apply two moving averages of different periods. You conclude to enter a buy position if the two moving averages point upwards. The shorter period moving average crosses over the longer period moving average from below upwards and the price remains above the moving averages without breaking downwards. Conversely, you sell if the two moving averages point downwards. The shorter period moving average crosses over the longer period moving average from above downwards and the price remains below the moving averages without breaking upwards. Note that you can adjust the periods depending on your analysis and trading time frames.
- Range Trading Strategy – this is based on support and resistance levels. A support level is a low level where the price seems not to break downwards but rather reverses upwards. A resistance level is a high level where the price tends not to break upwards but instead reverses downwards. You buy whenever the price reaches and retests the support level successfully and sell when it reaches and retests the resistance level severally.
- Breakout Strategy – it is not always that the price will range but will at times break out of the support and resistance levels. Once the price breaks a resistance level, it must retest that level without breaking downwards in order before you buy. On the contrary, if the price breaks out of the support level, it must retest the level severally without breaking upwards before you to sell.
Here are the money management terms:
- Moving Average Strategy – for this strategy, only ensure you use Stop Loss and Take Profit Orders observing a risk to reward ratio of at least 1:2.
- Range Trading Strategy – if you sell at a resistance level, target profit at the support level and let your Stop Loss risk only up to half of the targeted profit or less. If on the contrary, you buy at the support level, target profit at the resistance level and risk only up to half of the targeted gains or less.
- Breakout Strategy – measure the number of pips the support is from the resistance. Once the price breaks out of such a range, it is the number of pips that you target with your Take Profit. Your Stop Loss can risk only up to half your anticipated profits.
- Fixed Time Trading – use the Martingale Money Management Strategy. Double your investment every time you lose and stand a chance to recover your losses and gain way ahead of recovery. You, therefore, need enough capital to enable you to double your trade size every time you lose.
Have you mastered a trading and money management system?
Deposit money in your Olymp Trade live account to begin trading. Let how much your trading and money management systems can run on without sudden depletion dictate how much you deposit.
Bank Cards, JCB, China UnionPay, M-Pesa, Bitcoin, Neteller, Perfect Money, and Skrill are supported.
Which trading and money management strategy did you adopt? Trade Ethereum on your Olymp Trade live account using that working strategy.
Hit the Asset button and choose Ethereum with a mode to trade.
- Fixed Time Mode – set the trade duration and trade size and enter up or down trades depending on your strategy signals. At expiry, you earn the specified percentage of the invested amount plus the invested amount. You lose your invested amount if the trade fails, but can recover by doubling the trade size and trading again.
- Forex Mode – analyze which direction the price is likely to move and place a trade in that direction. Observe the Take Profit and Stop Loss specifications of the trading strategy you adopt.
Begin trading Ethereum online in Olymp Trade today. Enjoy the profits.
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