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Trading with cryptocurrencies is currently booming. especially, cryptocurrencies like Bitcoin and Ethereum have gained huge popularity and you can easily start trading with Ethereum on Olymp Trade. In, this article I will cover everything about Ethereum and how to trade with Ethereum on Olymp Trade effectively.
What is Ethereum?
- Ethereum or ETH is a decentralized digital currency that came into existence in the year 2013 founded by Vitalik Buterin and Co-founded by Gavin Wood, Charles Hoskinson, Anthony Di Lorio, and Joseph Lubin.
- It is a platform powered by Blockchain technology and the distributed nature of Blockchain technology makes it reliable and secure.
- It is a peer to peer network which allows you to move money and make deals directly with someone else. You don’t need to go through any third person or party.
- It is a decentralized digital currency which means it is not controlled or regulated by the government which makes it very easy to receive the money.
- Ethereum is the second most powerful cryptocurrency after Bitcoin.
How to set Ethereum at Olymp Trade chart
The first you need to do is log in to your Olymp Trade account. In case you don’t have one click here or can sign up via the form given below.
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Once, you have signed up. Click on the currency and search for Ethereum and select the name.
How to trade with Ethereum and Parabolic SAR on the Olymp Trade platform
Ethereum is a semi-volatile currency and therefore you should use a good trend indicator. In this article, I going to combine Ethereum with Parabolic SAR.
Parabolic SAR (Stop and Reverse) is a trend indicator that can easily help you to find a possible trend and reversal. This indicator perfectly works with volatile assets and can give you some good results.
Now to set Parabolic SAR click on the indicator button search for the name and select the name from the menu.
Now, what you will see is a series of dots that ribbons around the price.
Trading with Parabolic SAR is very easy. You just need to remember the golden rule of Parabolic SAR.
If the series of the dots are below the price it signals that the market is in a bullish trend. However, it would be best if you place a buy trade only when there is ample distance between price and dots.
Similarly, If the series of dots are above the price it signals that the market is in a bearish trend. but the best opportunity to place the sell trade is when there is a big distance between the price and dots.
Let’s check a few examples
Given above is a 30 minute Ethereum chart and we can clearly see the dots below the price with a big distance between the two. It is a signal of the strong bullish trend and we can place a buy trade here.
Similarly, given above is a 30 minutes Ethereum chart and we can clearly see the dots above the price with a big distance between the two is a signal of the strong bearish trend and we can place multiple sell trades.
So, This is the end of this article. I hope you have found this article helpful. The best thing you do is try this cryptocurrency on Olymp Trade with the virtual currency and check how this currency and indicator behave for you. Do comment your thoughts below and share this article because sharing is caring 🙂