What is the best way to profit from trading only one cryptocurrency pair?

[Rruchi man]

For a trader who trades only one cryptocurrency pair, how do you think he/she can profit from trading only that pair?
- opening multiple positions?
- or trading with high leverage?

(I know trading with low leverage and exercising patience can still be profitable, but that is not an answer I am expecting to see.)

[Hatchy]

For a trader who trades only one cryptocurrency pair, how do you think he/she can profit from trading only that pair?
- opening multiple positions?
- or trading with a large lot size?

(I know trading with a small lot size and exercising patience can still be profitable, but that is not an answer I am expecting to see.)

Most times, some strategy works for most Market pair so it's advice to test your strategy on more than one pair just Incase you don't find your setup on one pair, the other might have gotten to your trade zones.

To answer your questions, I'll go for the opening multiple positions. Why? It's more safer that way as you enter the market at retest areas giving you more chances to trade more position in the current market trend and also reduce the risk of blowing your account. Using large lot size is to me is more risky. Remember you have to apply proper risk management to your trading.

increasing the lot size gives you more profits in a short term but also open you to bigger losses in short term. So to avoid losing too much in a single trade, you can open many positions so just when you see the trade turning side ways you can close those already in profits.

[_act_]

A good trader will prefer to trade just one pair which also means to use the pair to open a single position. But if you know exactly where the market is going, you can trade multiple pairs. Just that multiple pairs are riskier than single pair. Although not that single pairs are not risky. Trading multiple pairs makes my trading asset liquidated fast recently. That was because I miscalculated. But if you can still make the right calculations about many pairs, it would be good to trade with multiple pairs also.

[Findingnemo]

For a trader who trades only one cryptocurrency pair, how do you think he/she can profit from trading only that pair?

BTC/USDT or any other stable coin pair is good choice for any kind of trading whether it's short or long and it doesn't necessarily have to be multiple positions just one with decent margin considering the trading fee as well can be profitable and it's not gonna bring life changing profits in one or few trades, over time the profits we make can accumulate and trust me with the patience and calculated risk there's good chance to make decent money just with one pair and it's less risky too.

[BitMaxz]

I tried multiple pairs based on my experience it's too risky unless you know how to manage risk. It's profitable if favors your position but if it's against to your prediction without management risk you will lose all your capital instantly.
Not only management risk you need to apply when taking multiple pairs you also need to follow the rules of your strategy and don't lose more than 5% of your capital.

If I were you do a backtest first with paper money to try your strategies with multiple pairs before you go live trading. Tradingview has a backtesting tool apply for a free trial 1 month if you don't use it yet

[dekafee79]

I tried multiple pairs based on my experience it's too risky unless you know how to manage risk. It's profitable if favors your position but if it's against to your prediction without management risk you will lose all your capital instantly.
Not only management risk you need to apply when taking multiple pairs you also need to follow the rules of your strategy and don't lose more than 5% of your capital.

If I were you do a backtest first with paper money to try your strategies with multiple pairs before you go live trading. Tradingview has a backtesting tool apply for a free trial 1 month if you don't use it yet

We must have expertise in risk management if we want to trade because there will be many risks if short-term trading. Strategies can be different, but we must really focus on our strategy because in my opinion, experience tests our strategy, because I don't use trading view.

[electronicash]

the only ideal pair to trade base on what traders usually trade is the BTC/USDT. this alone i think can make you more profit than trying out some other. the only reason why you would stick to leverage trading is if you take it seriously and are confident enough to trade in this risky market which whether you try out the high leverage then you can make money with it.

the best way is just become a swing trader. but you must have known this already.

[Hamza2424]

For a trader who trades only one cryptocurrency pair, how do you think he/she can profit from trading only that pair?
- opening multiple positions?
- or trading with high leverage?

(I know trading with low leverage and exercising patience can still be profitable, but that is not an answer I am expecting to see.)

Hmm trading in only one pair that's not the right way to make a profit from the market in most of the circumstances. Anyway anyone who wants to trade in only one pair it's their choice what we can say about it. Opening multiple positions won't increase the chance of profit or decrease the chance of loss for sure but let's say he put a buy order at 1$ and 2$ and $3 and now put a sell order at $2 $3 and $4 or whatever the sell order he set.

The chances for the high losses do decreases as if one trade is making loss then another might be making some recovery but what if the whole token goes into the dump and all these multiple trades are making losses? that's more loss than the single trade. Trading with Leverage is not what I advise to anyone regardless of their experience because it's too risky. If trading in one coin then wait for the right opportunity and once you have it take an entry.

[Captain Corporate]

I would say if you deal with only a single pair, then it depends on the amount of money you have. If you have a lot of money then you could just do multiple positions, that way you could have a lot more trades going all at the same time, if you have very little amount then you could consider leverage which is highly risky but with small amounts that's the only way to go if you want only one pair. We should not really compare the two together, it is something decent and should be ok. I know that leverage is not one many would suggest, I wouldn't neither, unless you have no other choices left.

[hugeblack]

The easiest two ways from my point of view:
- BTC/USDT pair: at support and resistance levels with a sell order as soon as losses are made.
- altcoins pair: It is better to follow the indicators of altcoins and when there is positive news, start buying the pair and sell it within an hour with any profit higher than 3% and do not be greedy as the chance of a collapse in the first hour is low.

[MrSpasybo]

I would say if you deal with only a single pair, then it depends on the amount of money you have. If you have a lot of money then you could just do multiple positions, that way you could have a lot more trades going all at the same time, if you have very little amount then you could consider leverage which is highly risky but with small amounts that's the only way to go if you want only one pair. We should not really compare the two together, it is something decent and should be ok. I know that leverage is not one many would suggest, I wouldn't neither, unless you have no other choices left.

I haven't participated in Futures trading yet, but professional traders say Futures are necessary to turn big experience into big profits. I don't think I'm that greedy, I only trade Spot because my trading capacity is limited. Leverage is quite risky for my trading method.

A trader who focuses on a single trading pair will have an advantage in understanding the price behavior of that pair, and thus the ability to make accurate decisions will also be greater. I think you could focus on BTCUSD or ETHUSD and improve your trading method. In a bullrun, token price can increase by hundreds of %, and I think that the profit from them is enough to satisfy you.

[MUGNIA]

I think it depends on the desire to gain profit and the capital you have, if our capital can open 2 trades I think it's not a problem, but if I do 2 trades, they are always done on 1 market so that it is easy to monitor

[Aanuoluwatofunmi]

It all depends on the kind of trade one is going for over the single currency pair he want to go for, when we understand more about the market, then we are going to decide on whether to go short or long, depending on our individual want over the trade we are gong for, though someone like me is not used to this kind of trading because i make selection of multiple choices when going for trades using currency pairs.

[taufik123]

I think it depends on the desire to gain profit and the capital you have, if our capital can open 2 trades I think it's not a problem, but if I do 2 trades, they are always done on 1 market so that it is easy to monitor

One market with a lot of trades is also not a problem, I am more happy because as you said it is easy to monitor.
Diversifying trading on several altcoins is not a problem as long as the altcoin has a high volume and has good development.

With a large capital, you can open 3 to 5 trades at once and don't forget to start monitoring the price of Bitcoin because everything will depend on how Bitcoin moves.

[Asiska02]

For a trader who trades only one cryptocurrency pair, how do you think he/she can profit from trading only that pair?

BTC/USDT or any other stable coin pair is good choice for any kind of trading whether it's short or long and it doesn't necessarily have to be multiple positions just one with decent margin considering the trading fee as well can be profitable and it's not gonna bring life changing profits in one or few trades, over time the profits we make can accumulate and trust me with the patience and calculated risk there's good chance to make decent money just with one pair and it's less risky too.

Trading with one pair is good for traders because it’ll make them better and master that pair more. Doing one thing over and over again will only make you become a master of it and can easily predict the move of the market and place your profitable trades. Opening one position is not a bad idea and sometimes I feel opening plenty positions is just not cool, to me it’s a fancy thing. If you know the total lots size you’d like to use for your trade, you can just put them together and open one position and you’re good to go. One good trade can make you the same profits as plenty positions you opened can also if their total lots size are the same.