Weekly Trend Signals Are Now Live
CoinRotator has launched weekly signals for the top 1000 crypto markets.
The default screener settings are normally based on the daily timeframe however with the addition of the weekly trend signals you can be more confident in the medium-term trend of your altcoin.
How Weekly Trend Signals Work
Open the all filters modal and slide the weekly to the right.
This will autogenerate the current weekly signals for your analysis.
You can sort them additionally by applying some other useful filters.
Benefits of Using the CoinRotator Weekly Signal
What you will read here has worked in crypto for 3 cycles. It is not a get rich quick approach or even a particularly clever one but it has been consistently profitable for several years. It also works in stocks, commodities, and forex.
The primary rule is simple, only trade in the direction of the weekly CoinRotator trend. If the daily signal is BUY but the weekly signal is Sell, wait. Once the weekly signal and the daily are aligned you enter the market.
There are 3 approaches to taking profits.
No mathematical theories to obscure the simple rules here. There are a few very simple approaches to taking profits in crypto. Don’t let a winning trade become a losing one just because the market changes.
Here are a few simple approaches to taking profits in the crypto markets.
1. Sell 25% of your position once you have reached a profit target pre-determined before entering the trade. Move your exit for the remaining 75% of the position to break even. Once the market extends further in your direction take an additional 25% of your position. Repeat this process until you are completely out of your trade (either through higher prices or your break-even stop has been hit).
2. Exit at a predetermined multiple of the entire position. This level is almost impossible to time perfectly. You must be comfortable when you exit to not re-enter without some new information to validate a new trade. Otherwise, you will suffer from FOMO and potentially give back all your gains. A good way to start this approach is to put your target at 100% for the daily time frame, 200% for the weekly, and 400% for the monthly timeframe. If you are trading intraday your targets should not exceed a multiple of the ATR.
3. Candlestick observations. This is by far the fastest way to exit. But the method is most likely to leave profits on the table. However, automation is very possible(will probably attempt again once CoinRotator is running smoothly and might offer to followers and Discord members.) Exit once you have a red candle but only if the candle closes in a profit.
This exit strategy is very much contingent on the market on the day of a red candle. Sometimes it's a very small spinning top and you feel like you are getting out too soon. While sometimes it turns out the first red candle day is the biggest down day for that coin in weeks. Either way, there is no confusion about this exit method, it happens when the new candle opens and the previous day was profitable but bearish.
For shorting the market, the rules are simply reversed, a bullish close in profit is an exit signal.
4. Use CoinRotator sell signals. When a coin you previously bought changes into a sell signal against BTC ETH and USDT it is definitely time to take some profits. If you want to be a bit faster in preserving profits you can check the screener daily to see if the price has pulled back against any of the 3. Once a trend reverses on one of these markets, taking swift profits could be the best option.
If you’d like to discuss these strategies and how the Weekly signal works, ping us at @coinrotator on Twitter or join our CoinRotator Discord.