In 2022, the crypto market experienced significant volatility and uncertainty, driven by the failures of prominent projects such as $LUNA and FTX, alongside market moving announcements from the Federal Reserve. These events had a ripple effect on all financial markets including crypto, causing traders and investors to re-assess their approach.
Helping remove fear and emotion from trading decisions, Evai has introduced a brand-new Trading Score feature on the Evai Crypto Ratings platform. The score updates regularly, with the current frequency set at 4 hours, however stay tuned for shorter frequencies coming soon. This feature, alongside the Evai Market Index, is now available on the Evai dashboard, providing crypto traders with the ability to evaluate the short-term performance of a crypto asset in relation to its underlying value.
Generating Profits Using The Evai Trading Score
Unlocking daily profit making trades, the Evai Trading Score can be easily found throughout the Evai platform. Plus (+) and Minus (–) symbols indicate the likelihood of a positive or negative price direction, while the numbers 1–3 deliver a strength score relating to each asset. The Evai Trading Score is calculated by a proprietary multi-factor model, coupled with AI and Machine Learning technology, which compares a crypto asset’s daily performance with its historical data.
Simply put, the Evai Trading Score presents the opportunity for new and experienced traders to take advantage of the volatility within the crypto market and generate profits.
Upgrade Your Trading Strategy
Traders can begin by reviewing Trading Score upgrades throughout a given day and select a range of cryptos which have been subject to significant upgrades. (Remember, a higher Trading Score justifies a stronger possibility for a higher return on investment so keep your eye out!)
Additionally, to manage risk and embrace the DYOR process, traders can classify any chosen assets using Evai’s Market Index, to gather further intel on the underlying volatility and risk associated with the crypto assets.
The next step requires the trader to determine an entry point in accordance with a chosen trading strategy. Monitor the Evai Trading Score for any major upgrades or downgrades. Do this by simply adding tokens to your Evai Watchlist.
Once in an open trading position, traders should consider these options:
- If another upgrade occurs OR if there is no change in Trading Score, a continuation of the trend is most probable.
- If a downgrade occurs, a change of trend is most probable and further examination is needed.
Identifying Underlying Value And Minimising Risk
Providing traders with an indication of the underlying value of a crypto asset, the Evai Market Index can be used in tandem with Evai’s Trading Score to help evaluate both short term and longer-term investment decisions. The Evai Market Index ranks crypto assets from A1 down to D and provides an indication of the underlying value. A rated cryptos indicate a decreased level of risk and lower potential returns while B to D rated cryptos indicate higher levels of risk with higher levels of potential returns.
To experience the full power behind Evai’s Crypto Ratings, both the Market Index and Trading Score should be considered in tandem, as part of an established and tested trading strategy. However, the Evai Market Index and Evai Trading Score indicators are independent tools so keep that in mind!
When entering the crypto market, it’s best to not launch into trading without establishing a strategy first. Having a trading strategy enables traders to keep focus amongst the wave of news, economic data and FUD which floods the market daily.
The Evai Market Index and Trading Score are tools which can be implemented within multiple trading strategies, ranging in complexities and adaptable for all experience levels (newbie to professional). Additionally, the Evai Trading Score can be utilised in conjunction with other established indicators, to determine the most optimal trading decisions such as entry/exit points, stop loss and take profit levels.
Leveraging The Evai Trading Score During A Market Down Trend
The Evai Trading Score can also be used during a down trend in the market. ‘Shorting’ is an advanced trading technique, therefore extensive research and practice is required – educate yourself on the risks of ‘shorting’ before adopting this strategy. In this situation, traders should watch out for crypto assets with a strong negative Trading Score. The next stage involves the assessment of an entry point within the short position, which may involve the continued monitoring of the Trading Score.
As always, traders should DYOR extensively, take appropriate precautions and only trade with funds which they are comfortable losing. While Evai’s Crypto Ratings can help traders make wiser trading decisions, the power is ultimately in the trader’s hands. To successfully generate profits, Evai recommends the following:
- Set exit points & take profit areas
- Allows use a stop / loss
- Don’t get greedy – always take profits
Now we have covered the theory, it’s time for you to put it into action! Head over to evai.io, sign up for Evai PRO and start your crypto ratings journey!
