The cryptocurrency market continues to expand with both new and experienced traders entering the space. However, there are different months that provide better results than others to make profits while trading.
According to the annual reports released by the crypto trading signals provider AltSignals, the top five best months for crypto trading on BitMex in 2019 were December, February, May November and June.
December 2019 was the best month to trade cryptocurrencies on the BitMex exchange. AltSignals informed they had a win rate of 92% and a total profit of 4875%. This is in just one month and in just one exchange.
The report shows that by trading with leverage and focusing on very specific trades, it is possible to make a large profit on the funds owned. On December 4, the signals provided by AltSignals allowed users to earn a profit of 629%.
During the month, there were only three small losses with the XBT, ETH and XRP currencies. These losses didn’t affect the profitable month traders had while following these crypto trading signals.
The second best month to trade cryptocurrencies on BitMex was February. AltSignals provided trading signals with a win rate of 91% and a total profit of 2383%, a massive gain for users. February experienced a bad second day and a bad last day. However, most of the other days registered impressive gains for users.
In this case, the leverage for the most profitable trades was always 25 with the XBT cryptocurrency. Meanwhile, the losses were registered by ETH and XBT and always with a leverage level below 25.
May, instead, registered a win rate of 90% with a profit of 2881%. It is worth pointing out that the second part of the month was much more profitable than the first one. Traders that follow AltSignals should take into account that the market tends to behave in different ways related to a wide range of issues.
This month saw ETH entering the top 5 best trades with a leverage of 50 and a profit of 188%. XBT registered most of the largest gains of the month. The losses were only two, for XBT and ETH, each of them with a leverage level of 25.
Leverage allows users to increase their profits if they make a very good trade. Nonetheless, it is also very risky considering they can lose their funds if they do not correctly set a stop loss. If you want to know more about how to trade with leverage on BitMex, AltSignals released a complete guide on that matter.
We recommend users that do not know how to trade with leverage to start trading with low leverage levels and through traditional trading platforms. This would help them get an idea of what it means to trade digital currencies by following crypto signals.
November was also a very good month for traders that follow AltSignals and its BitMex trading services. Indeed, this month allowed users to close the year, alongside December, with massive gains. Traders registered gains of 2888% if they have followed all the trading signals provided for BitMex.
It is worth mentioning that the losses this month were larger than in the previous months. Indeed, without losses, users would have made a profit of 3650% in November. All the best trades were with 100 leverage with XBT. The losses were registered by XTB, ETH and TRX with leverage ranging from 20 and 100 depending on the moment.
In general, winning positions tend to take longer periods of time before they get closed. Additionally, losing positions were opened for very short periods of time in order to reduce the losses.
Finally, the fifth-best month to trade cryptocurrencies by following AltSignals and the BitMex exchange was June. Similarly to November, the winning rate was 86% and the profits reached 2224%.
There were only three days with losses that were very small, compared to the gains made during the first 22 days of the month. Moreover, the positive and winning trades were mostly small.
The best cryptocurrency to trade was XBT with a leverage rate between 50 and 100. Furthermore, losses were divided between XBT and LTC with leverage rates averaging 23 points.
In this article, we shared with you which were the best five months of the last year to trade cryptocurrencies on BitMex following the crypto trading signals provided by AltSignals. The results were very good for December and November, meaning that traders enjoyed a very profitable end of the year.
Disclaimer: The information presented by AltSignals and its writers is for informational purposes only. It should not be considered legal or financial advice. AltSignals and its writers are not financial advisers. You should consult with a financial professional to determine what may be best for your individual needs.
AltSignals and its writers do not make any guarantees or other promises as to any results that may be obtained from using their content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence.
Please always invest within your means and do so responsibly.