Once you're set on your trading strategy, you need to define the conditions. The point that you exit a trade will depend on whether you have reached your target or your maximum loss, in which case you will need to exit the trade.
Remembering that cryptocurrencies are highly volatile, rather than leaving them open, it is best to close the trade when you reach the maximum point; otherwise, it can be risky.
Another major benefit of trading over investing in cryptocurrency is the liquidity of the transactions.
This is the measure of how easily and quickly cryptocurrency can be converted into cash without impacting the price.
Generally, the cryptocurrency market is seen as illiquid as the transactions are made up of multiple exchanges.
When you use CFDs to trade, you can improve the liquidity because the prices are sourced from multiple places on your behalf, which allows trading to be quicker, cheaper, and thus more effective.