Best Places to Buy and Sell Cryptocurrency?

Before we get to our Nem XEM Cryptocurrency Strategy we thought it might help to provide you with some of the best places to trade cryptocurrencies.

#1 Binance – This is by far our most trusted and recommended place to do all things cryptocurrency. Binance is known for its strong team, proven products, superior technology, and industry resources. They have a solid relationship with industry leaders and are capable or 1,400,000 orders per second which by far makes them the fastest exchange in the market today. Signing up takes less than 5 minutes here.

Get $10 Free with Coinbase: Open a Coinbase account using the link below and they will give you $10

#2 Coinbase – This by far is the most popular. Either Binance or Coinbase are great picks if you are looking to get into buying and selling crypto. You can sign up here.

There are a ton of trading tricks you can apply to beat the market, but the NEM (XEM) cryptocurrency strategy is a technique that will bring your scalping skills to the next level. The momentum pinball setup is a short-term pattern that can have long-term implications for your account equity growth. Also, learn about fading the momentum in Forex Trading.

Our team at Trading Strategy Guides is working hard to put together the most comprehensive PDF guide to different cryptocurrency strategies. Previously, we covered the EOS cryptocurrency, which was designed to be a very easy way for developers to create decentralized Apps.

NEM coin is one of the top cryptocurrency around the world and its Japan’s second favorite digital coins after Bitcoin. We know that Asia leads cryptocurrency adoption and it’s the main driver of the crypto market as there are lots of buyers coming from this region.

Also: Check out Chainlink Staking

Now, it’s easy to understand why we’re interested in learning how to trade Nem (XEM) crypto.

The momentum Pinball is a scalping strategy that will tell you automatically when it’s the best time to buy NEM cryptocurrency.

Moving forward, we’re going to discuss what is Nem (XEM) cryptocurrency and we’ll help you learn how to buy XEM with our unique and unorthodox scalping technique.

What is NEM (XEM) coin?

Nem is a platform that provides an alternative for API developers that are looking to develop blockchain-based apps.

By market cap, XEM is the 15^th largest digital currency in the world. NEM is one of the big potential cryptocurrencies that are trading under $1, and it’s based on newer blockchain technology.

Nem was originally launched in March 2015, and it uses a centralized blockchain that is similar to Dash coin. One of the key concepts that make XEM cryptocurrency unique is the fact that it doesn’t have any miners but has harvesters instead.

It takes 100 times less electricity to send a NEM payment than it does with a Bitcoin payment.

Now let’s see how to buy XEM. Also, learn more about the best cryptocurrencies to buy now.

How to buy XEM?

Here comes the tricky part.

We’re going to do something that you have rarely seen applied in trading, but many professional traders implement when studying technical indicators.

We’re going to use two technical tools, and we’re going to combine them so we can obtain the ultimate technical indicator for short-term trading. This perfect combination of indicators would provide better entry and exit opportunities.

The first technical indicator we’re going to use is the Rate of Change indicator or simply put it the ROC indicator. The ROC is another momentum indicator and as the name suggests it measures the rate of a crypto’s change in price and predicts future price movements. Learn more about future price movements.

The ROC is a widely overlooked indicator, but it’s extremely valuable in showing the equilibrium point for the NEM (XEM) price.

For our cryptocurrency trading strategy, we’re going to use one period ROC, which is simply the difference between today’s closing price and yesterday’s NEM (XEM) price at the close.

Next, we need to apply our second indicator over this one period ROC. Most trading platforms allow the user to do studies on studies in just this way.

Now, the second technical indicator we’re going to use is the RSI indicator, which is a momentum indicator that measures the magnitude of recent gains compared to recent losses.

Last but not least, we apply a three-period RSI of this one-period ROC to obtain the ultimate scalping indicator.

Now, before we go any further, we always recommend taking a piece of paper and a pen and note down the rules of the NEM (XEM) cryptocurrency trading strategy. For this demonstration, we’re going to look at the buy side.

NEM (XEM) Cryptocurrency Strategy

The momentum Pinball setup was popularized by the famous professional trader, Linda Rasche, but was initially used a long time ago by George Douglas Taylor, a grain trader on the CBOT that traded the markets in the early 1950s.

It’s important to learn a little bit of history behind this scalping setup so we can appreciate and better trust the pattern when you’re actively trading the markets.

Like with all our trading strategies we’re going to give you first the trading rules by going through an actual live trade example.

Step #1: Wait until the RSI has a value of less than 30.

At this stage, we need to use the RSI readings from the daily chart. Just wait until the RSI has a value of less than 30. You’ll have to wait for the daily close to get the RSI reading.

Obviously, this means that you’ll always buy XEM the next day.

We have spotted on the NEM XEM chart an RSI reading of less than 30 on the 25 May

Once you spot an RSI reading less than 30 we switch to a lower time frame which brings us to the second rule of the NEM (XEM) cryptocurrency strategy.

See below:

Step #2: Switch to the 1-hour chart and wait again until the RSI shows a reading of less than 30.

The second rule that needs to be satisfied before pulling our trigger is to wait again for the RSI indicator to show a reading of less than 30, but this time on the 1-hour time frame.

Remember, this should be the next day after the RSI posted less than 30 readings on the daily chart.

The momentum Pinball setup satisfies all trading conditions outlined above which means that we can move forward and describe what the best NEM XEM price to buy at is.

See below:

Step #3: How to buy XEM: Buy at the opening of the next candle after the RSI went below 30 levels.  

The original momentum Pinball pattern uses a different entry method. We have done some backtesting and found that we can achieve superior returns if we follow a different entry strategy.

How to buy XEM with our cryptocurrency trading strategy is much more eloquent because it uses the concept of multiple time frame analysis.

Buy at the opening of the next candle after the RSI posted a reading of less than 30.

This brings us to the next important part that we need to establish for the XEM cryptocurrency trading strategy, which is where to place our protective stop loss.

See below …

Step #4: Place your protective Stop Loss below the previous day low.

After the buy EOS order is triggered, we need to have a strategy to protect our bottom line.

The best NEM XEM price to hide your protective stop loss is below the previous day low. The NEM XEM price should not come to this point.

Last but not least, we also need to define where we take profits when trading XEM.

See below:

Step #5: Take profit should be 2 or 3 times larger than your stop loss.

Again, our exit strategy is slightly different than the original momentum Pinball pattern.

Be sure to close your NEM trade once the take profit is two or three times larger than your stop loss.

Alternatively, you can use the initial exit strategy which requires taking profits when we break above the previous day high. Don’t limit yourself to either of these two strategies, but instead make the best out of them and use the one that suits the most the current trading environment.

Note** the above was an example of a BUY trade using our NEM (XEM) cryptocurrency strategy. Use the same rules for a SELL trade – but in reverse. In the figure below, you can see an actual SELL trade example.

Conclusion – NEM (XEM) Cryptocurrency Strategy

This scalping strategy works equally well with all types of markets that have a good average daily range. The NEM (XEM) cryptocurrency strategy has turned out to be one of the most consistent trading systems that we have developed. Having a thoughtful plan put in place instead of being reactive to the NEM XEM price is important for your success.

The crypto market is at a crucial point, but the NEM (XEM) coin has managed to offer something new which is why it can have a place in your crypto portfolio.

Thank you for reading!

Please leave a comment below if you have any questions about how to buy NEM XEM cryptocurrency!

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