Learn bitcoin trade
Bitcoin was the first digital currency to be created. It is also the most respected, well capitalised and highly traded Cryptocurrency in the world. Cryptocurrency trading allows for maximum yield when it is volatile, due to its many ups and downs. This is precisely the reason global traders enjoy Bitcoin trading. Home Learn to Trade crypto How To Trade Bitcoin: A Beginner’s Guide. How To Trade Bitcoin: A Beginner’s Guide practice for free. Updated: 04 November Mariela Naydenova equities trader. Mariela is a former investment banking analyst and has been a cryptocurrency writer with LeapRate and Asktraders for the past two years. The easiest way to learn about and trade bitcoin. Find local bitcoin traders in your area or easily purchase online. With Trade Bitcoin you can invest in Bitcoin monthly to leverage the power of compound investing in one of the fastest growing asset classes of the Century!
Learn bitcoin trade🥇Best Bitcoin Brokers in December - [Beginners Guide to PROFIT]
We also want it to move beyond the level it was when Bitcoin was trading previously at this resistance level see figure below. Here is how to identify the right swing to boost your profit. Now, all it remains for us to do is to place our buy limit order, which brings us to the next step of the best Bitcoin trading strategy.
Once the OBV indicator gives us the green signal, all we have to do is to place a buy limit order. Place the order at the resistance level in anticipation of the possible breakout. After all, we told you the OBV is an amazing indicator.
Now, all we need to establish is where to place our protective stop loss and when to take profits for the best Bitcoin trading strategy. Placing the stop loss below the breakout candle is a smart way to trade. When it comes to our take profit, usually an OBV reading above , is an extreme reading that signals at least a pause in the trend. This is where we want to take profits.
In the figure below, you can see an actual SELL trade example, using the best Bitcoin trading strategy. While bitcoin day trading does have some risks, there are many ways these risks can be reduced. Here are some of the top ways to enhance your Bitcoin trading strategy. Maybe one day our fiat money system will go under and be completely replaced by cryptocurrencies. However, as long as there are still profits to be made from Forex currency trading we encourage you to read our receipt for Forex trading success: How to Make Money Trading — 2 Keys to Success.
We hope that The Best Bitcoin Trading Strategy — has shed some light on how you can use the same technical analysis tools that you use for trading the Forex currency market to now trade the cryptocurrencies.
Ready to get started? Tap here now to get the E-Book Completely Free! Please Share this Trading Strategy Below and keep it for your own personal use! Thanks, Traders! We specialize in teaching traders of all skill levels how to trade stocks, options, forex, cryptocurrencies, commodities, and more. Our mission is to address the lack of good information for market traders and to simplify trading education by giving readers a detailed plan with step-by-step rules to follow.
We want to share with you some important information about Trading Strategy Guides as we move forward to our goal to help 1,, Traders find a strategy that suites them best. We want you to fully understand who we are as a Trading Educational Website We will send out many free trading strategies for you to learn and apply to your trading system right away Our team gathers a vast amount of information and comes up with some of the simplest and easiest trading strategies to follow each week.
We are highly motivated to do this for you because we love helping people succeed who are serious about trading. Our Goals. The crypto Market is the highest market now. You can be part of the people who are earning a living through trading cryptos. With just half a bitcoin, you can make up to 3 bitcoins in a week. Contact me via kramerp04 gmail. If you want to buy more bitcoins up to 0. Forex Trading for Beginners. Shooting Star Candle Strategy.
Swing Trading Strategies That Work. Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page. Info tradingstrategyguides. Facebook Twitter Youtube Instagram. How to Start Trading Bitcoin: The first thing you need to get started trading bitcoin is to open a bitcoin wallet. Available in the United States, Canada, and the majority of countries in Europe.
Offers several payment options. Binance is the second-largest exchange that trades over different currencies. Has low transaction fees 0.
Bitmex is the third-largest exchange and only trades BTC. Great for short selling and margin trades. Bittrex is a US-based exchange founded by ex-Microsoft security professionals.
OKEx is a Hong Kong-based exchange. Trades over different cryptocurrencies. Coinmama - allows you to buy and sell easily. Accepts credit cards and has a large global reach. How to Day Trade Bitcoin While long term traders prefer to hold their bitcoin positions for extended periods of time, day traders have discovered that Bitcoin is lucrative for many reasons: Crypto trading is more volatile than stock trading.
Bitcoin is traded 24 hours per day 7 days a week. Bitcoin allows for big trades with low overhead. Bitcoin is the most liquid form of cryptocurrency. Multiple trading opportunities emerge within a 24 hour period.
The Best Bitcoin Trading Strategy — 5 Easy Steps to Profit This is a cryptocurrency trading strategy that can be used to trade all the important cryptocurrencies. Now… Before we move forward, we must define the mysterious technical indicator. You'll need this for the best Bitcoin trading strategy and how to use it: The only indicator you need is the: On Balance Volume OBV : This is one of the best indicators for day trading bitcoin.
What do we mean by this? Step 3: Look for the OVB to increase in the direction of the trend. But, how do we know that? Step 4: Place A Buy Limit Order at the resistance level in an attempt to catch the possible breakout. Ways to Enhance This Bitcoin Day Trading Strategy While bitcoin day trading does have some risks, there are many ways these risks can be reduced.
Remember to: Diversify your trades. Combining Bitcoin, Ripple, Litecoin, Ethereum, and other cryptocurrencies will help reduce the daily risk associated with a specific coin. Minimize trading costs. Opening multiple positions every day affects your daily ROI.
To minimize the cost of trading, choose a trustworthy exchange that has low fees. Watch Trading times. Plan out trading times that are compatible with your schedule. Bitcoin trades 24 hours a day. It's different from the NYSE. Follow Bitcoin News. Pay attention to cryptocurrency news stories to stay ahead of the market.
Set up alerts and other types of notifications. Use technical analysis. Use strong technical indicators like OBV. This will help you justify each of your trades. Use stop losses. Set stop-loss orders on every trade.
Start with a profit loss ratio of Author at Trading Strategy Guides Website. Alexis Jk Dela Cruz says:. September 27, at pm. TradingGuides says:. November 9, at am. Kramer Parker says:. October 28, at am. Robert Donald says:. November 28, at pm. Upon opening your account, you will be assigned a free Bitcoin wallet. You can begin your trading journey by clicking on sell Bitcoin first.
You will be redirected to a page where you can choose the payment method and also the seller to buy from. Paxful shows you a list of those sellers that accept the payment option you choose. You have the liberty to trade with any seller that you find suitable for you. It is important to note that the Paxful fee is determined by the payment method you choose.
Generally, Paxful offers low trading fees. It provides several payment options and allows for trading Bitcoin with other cryptocurrencies. You can convert your fiat currency to Bitcoin and vice versa on Cex. The platform offers an intuitive dashboard for trading and margin trading. It is important to note that Cex. It also supports the use of credit cards in cryptocurrency trading , which gives it an edge over several other Bitcoin exchanges.
It was established in and has since experienced massive growth. Lately, eToro has become increasingly popular as a leading online trading platform. Trello draws its strength from the community of traders that it has and the ability of these traders to share strategies amongst themselves. Related article: How to Open an eToro Account. It is important to note eToro, unlike other online brokers, offer trading in real Bitcoin and other cryptocurrencies. With your own eToro crypto wallet, you can fund and trade Bitcoin as you wish.
After adding this feature, eToro has become an all-in-one broker. The platform has a good reputation and has established itself as a safe and reliable online broker for CFDs and Forex across Europe.
The platform provides tight spreads, faster execution, and solid customer support, which is essential, especially if you are a novice Bitcoin trader.
FP Markets provides the MetaTrader 4 and 5 for both desktop and mobile traders. This gives you a customizable interface to work with, access to one-click trading, expert advisors, live price, and market watch details. Bitcoin is a decentralized and unregulated currency. Thus, it is difficult for it to be affected by some of the factors that affect Fiat currency. However, certain things determine the price of Bitcoin at a given time. The following factors influence Bitcoin price:.
It is important to note that BTC has a total market cap of around 21 million coins, and once Bitcoin miners finish mining all the coins, the supply of Bitcoin will end. We currently have around Unlike other coins like ether with a high supply, Bitcoin has a low supply, which gives it a higher value. Once the supply is completely tapped out, we should expect its price to rise significantly. Like with any other product, the process of mining Bitcoin involves the use of machines, energy, and manpower.
All these resources require money. The cost of producing the coins is transferred to the price. If the production costs are high, then the price of BTC also increases and vice versa. Bitcoin halving refers to when the reward for adding new transactions into the Bitcoin blockchain is reduced by half. It happens once in four years.
It is important to note that there are over 2, cryptocurrencies in the market today. The stiff competition is likely to affect the value of Bitcoin in some cases. As a bitcoin trader, you should be aware that different bitcoin exchanges have varying trading fees.
And on top of the trading fees, sometimes the price of Bitcoin is not uniform on all exchanges as you would expect. Cyber attacks that lead to loss of bitcoins also affect the price of Bitcoin. The security issues create fear in investors, which forces some of them out of the industry. Consequently, the demand reduces, which in turn leads to a reduced price. Since Bitcoin trading greatly relies on technology and the internet, this is a factor that will always be in play.
To succeed in bitcoin trading , you have to know when and how to trade. You have to know how to recognize market trends, and easily predict price movements. Fundamental analysis provides you with indispensable knowledge of trading. So, what is it all about? Unlike technical analysis, fundamental analysis focuses on the big picture instead of focusing on the intrinsic value of a given asset. It is important to keep it in mind that fundamental analysis is not exclusive for cryptocurrencies.
Additionally, how it is applied in cryptocurrencies is a bit different. If you realize that bitcoin is widely accepted as a payment method, you can invest in it because it will have a high demand, which equals an increase in the value of the currency.
Technical analysis focuses on the history and past performance of an asset to determine its future prices. For bitcoin trading, you can look at past trading volumes and trends.
It is important to point out that technical analysis is formed because Bitcoin price movements are not random and that history tends to repeat itself.
Over the years, technical analysis has become increasingly popular with the development of advanced tools and charts that can track past prices and trends spanning years. That is why we have hundreds of indicators used in cryptocurrency trading today.
Learning how to trade Bitcoin cannot be complete without looking at how one can set up a stop-loss order. A stop-loss order helps limit risk in trading and protect an existing portion of the profit made when the market plunges. In many Bitcoin trading platforms, you will always be given the option to open a stop-loss order, and you can always modify the order as you wish. When executing a trade, you can specify your stop limit to activate at a static price point.
Once the Bitcoin price falls past a certain level, or based on a percentage of the current market price of Bitcoin, usually a negative offset. Take the stop-loss order as your exit plan should things not go as planned.
With a stop-loss order, if the trade goes against your expectations, you can easily exit without any suffering risk. A trending Bitcoin market is one that reaches a certain position and maintains it for an extended period. The trend-following approach relies on technical analysis to predict the behavior of the market. You should open your trade position at the onset of the trend, and when you believe that the trend will continue to move in its current direction. Trading averages, the stochastic oscillator, and the relative strength index are great tools to determine the direction of a trend.
Trading Bitcoin with leverage focuses on making profits from small price movements. It allows you to effectively control your portfolio as it grows. The principal amount used in Bitcoin leverage trading is referred to as margin. Bitcoin trading can be profitable if carried out properly, but it also has significant risks. As an investor, it is prudent to be aware of the risks associated with Bitcoin trading before committing yourself.
Some of the risks in Bitcoin trading include:. Over the years, there has been a significant number of cyber attacks on exchange platforms, although Bitcoin itself has never been hacked, which left most people devastated. It is this constant fluctuation in the price of Bitcoin that makes it a risk trading. As an investor, there is no way that you can be assured of getting a return on your investment.
In some cases, you may even suffer great losses. However, if you want to reduce the risk, you must keep a keen eye on the market trends and trends in Bitcoin trading. Also, invest small amounts while starting. Aside from hacking, there are also various instances where traders get defrauded in the Bitcoin market.
With the exponential number of people getting into Bitcoin and cryptocurrency trade, some of the created exchanges are often fake. Though relevant financial authorities and bodies continue to sensitize traders how they can protect themselves from fraud, cases are still reported. This security problem remains a big problem for investors, and if you are just getting into the Bitcoin trade, be careful only to trade with established exchange sites like Binance. Currently, there is no established body or arm that regulates the Bitcoin market.
Additionally, many governments are yet to give their clear stance on cryptocurrency trade in their respective countries.
The trade has several loopholes, which may make it interesting to get into, such as no taxation. However, if the governments realize that the Bitcoin trade is creating stiff competition for them, then chances are Bitcoin trade will get banned like it is in China.
Although Bitcoin is one of the greatest innovations of our time, it is yet to be fully accepted, and only a few companies and merchants accept it as a form of payment.
The stores accepting it are few, and even travel and hospitality companies that allow customers to pay using Bitcoin are limited. Its limited use denies it the importance that fiat currency has. The fact that one may find it difficult to find a place where his or her BTC can be accepted as payment is one of the reasons why Bitcoin may never overtake the traditional Fiat currency.
Bitcoin is a virtual currency that fully relies on technology. Mining of new Bitcoins requires technology, buying and selling the same also depends on technology, and the storage also relies on technology. This means that without the required technology, Bitcoin has no value.
As more people get into the Bitcoin trade, a bubble economy is created, which can burst at any time, rendering Bitcoin useless. If this comes to happens, many traders may suffer very painful financial losses. Well, Bitcoin has been around for around ten years now, which makes it a significantly young technology. Over the years, it is yet to develop into something solid, and we continue to witness changes. As a result, it is not possible to tell what Bitcoin will look like tomorrow.
The most valued currency today may end up useless in the future. Until it is fully established, one should only trade with caution.