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What are some popular EMA settings used by successful cryptocurrency day traders?

avatarRossi RouseDec 26, 2021 · 3 years ago3 answers

Can you provide some insights into the popular EMA (Exponential Moving Average) settings that successful cryptocurrency day traders use? What are the specific EMA periods that are commonly used and why? How can these EMA settings help in making informed trading decisions?

What are some popular EMA settings used by successful cryptocurrency day traders?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    Successful cryptocurrency day traders often use EMA settings of 9 and 21 periods. The EMA with a shorter period, such as 9, helps to identify short-term trends and potential entry and exit points. On the other hand, the EMA with a longer period, like 21, provides a broader view of the market and helps to identify medium-term trends. By combining these two EMAs, traders can gain a better understanding of the overall market sentiment and make more informed trading decisions.
  • avatarDec 26, 2021 · 3 years ago
    EMA settings commonly used by successful cryptocurrency day traders include 12 and 26 periods. The 12-period EMA is often used to identify short-term trends and generate trading signals, while the 26-period EMA provides a longer-term perspective. Traders may look for crossovers between these two EMAs as potential buy or sell signals. However, it's important to note that EMA settings alone should not be the sole basis for trading decisions, and other technical indicators and analysis should be considered as well.
  • avatarDec 26, 2021 · 3 years ago
    Based on my experience at BYDFi, a popular EMA setting used by successful cryptocurrency day traders is the combination of 50 and 200 periods. The 50-period EMA helps to identify short-term trends, while the 200-period EMA provides a longer-term perspective. Traders often look for crossovers between these two EMAs as potential entry or exit points. However, it's important to customize the EMA settings based on the specific cryptocurrency and market conditions, as different assets may require different EMA periods for optimal results.