Jul 29, · Best Bitcoin Trading Platforms The first step to get started trading bitcoin is choosing a reliable platform. When starting out with bitcoin trading, . Jul 12, · Every successful BTC trader must keep track of macro fundamentals going around the BTC community because such information more often determines the market price of Bitcoin. Either rumours or news have exponential effects on the BTC market Author: Olumide Adesina. Nov 26, · Becoming a successful bitcoin trader requires some work because although we’ve had many crypto traders in the past, not all have been successful over the .
Successful bitcoin trading4 Successful Bitcoin Trading Strategies Shared by Traders
This is what allows transactions to happen without a central exchange. Here is another strategy on how to draw trend lines with fractals. Trading bitcoin for profit is actually a universal cryptocurrency trading strategy. It can be used to trade any of the plus cryptocurrencies available to trade as of today. The first thing you need to get started trading bitcoin is to open a bitcoin wallet.
If you do not have a bitcoin wallet then you can open one at the biggest wallet called Coinbase. Bitcoin traders are actively seeking the best possible solutions for trading and investing in bitcoin.
We have some of the best methods explained right here in this article. We have learned this bitcoin wisdom by trial and error and we are going to show you what is working right now. The methods we teach are not dependent on the price of bitcoin. They can be used whether bitcoin is going up or going down. Keep in mind that it is possible to lose money. Your capital is at risk while trading cryptocurrency because it is still trading at the end of the day. We always recommend that you demo trade before risking any live money.
Also, read the trading volume guide. These bitcoin strategies can also be used for trading bitcoin cash as well as other cryptocurrencies.
In fact, you can use this as a trade guide for any type of trading instrument. Blockchain technology is a big step forward for how to access information.
Many companies are starting to develop applications to use Blockchain in their favor. Remember that when trading digital currency, it may seem like it's not a real currency.
But it actually is real. This is not some Ponzi scheme. You must do your technical analysis just as if you were going to day trade any other instruments. You can also read our best Gann Fan trading strategy. One of the reasons why Bitcoin is so popular among day traders is that there are many different Bitcoin exchanges available.
Finding the best Bitcoin exchange will depend on many different factors. These include your home country, the preferred method of payment, fees, limits, liquidity needs, and other factors.
Here are some of the top cryptocurrency exchanges in the market:. A cryptocurrency is really no different than the money you have in your wallet.
They have no intrinsic value. And cryptocurrency is just bits of data while real money is just pieces of paper. Unlike fiat money, Bitcoins and other cryptocurrencies have no central bank that controls them. This means that cryptocurrencies can be sent directly from user to user without any credit cards or banks acting as the intermediary.
When you print lots of money, inflation goes up which makes the currency value going down. There is a limited amount of Bitcoins. This holds true for the majority of the other cryptocurrencies. We will use our best Bitcoin trading strategy. We also have training for the best short-term trading strategy. 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:.
Because Bitcoin is more volatile than other tradeable assets, there will be a high number of profitable trading opportunities occurring each day.
Like ordinary currencies, using technical indicators will make it easier to tell when price increases are likely to occur. Volume, relative strength, oscillators, and moving averages can all be applied to Bitcoin day trading. It is important to pay attention to technical indicators and developing trends. In this next step, we will talk about OBV trading and how to get started buying and selling cryptocurrencies. This is a cryptocurrency trading strategy that can be used to trade all the important cryptocurrencies.
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:. It is used to basically analyze the total money flow in and out of an instrument.
The OVB uses a combination of volume and price activity. This tells you the total amount of money going in and out of the market. How to read the information from the OBV indicator is quite simple. Here you can learn how to profit from trading.
In theory, if Bitcoin is trading up and at the same time the OBV was trading down, this is an indication that people are selling into this rally. The same is true in reverse if Bitcoin was trading down and at the same time the OBV was trading up.
What we really want to see is the OBV moving in the same direction as the Bitcoin price. In this regard, our team at Trading Strategy Guides uses the OBV indicator with other supporting evidence to sustain our trades and gain more confirmation. The next step comes from the Ethereum trading strategy which will be used to identify Bitcoin trades. Now, before we go any further, we always recommend taking a piece of paper and a pen and note down the rules of the best Bitcoin trading strategy.
Your chart setup should basically have 3 windows. One for the Bitcoin chart and the second one for the Ethereum chart. Last but not least, make one window for the OVB indicator. If you followed our cryptocurrency trading strategy guidelines, your chart should look the same as in the figure above.
Cryptocurrencies are still thriving and Bitcoin trading is continuing unabated and there are no visible signs yet of the crypto market slowing down. This means that if you still have not jumped onto the Bitcoin bandwagon this is the right time to do it. You can adopt any of these 4 successful Bitcoin trading strategies that have been tried-and-tested by traders.
According to this common trading strategy, it is advisable to hold onto your assets when you are not very sure about trading skills or new to the world of crypto investments. This strategy is somewhat safe and the hope is that prices of Bitcoins will go up again so that you will be able to sell off your coins enjoying huge gains in the process. While it may not be a very elaborate trade strategy and one that is not entirely without risks, it can be considered as sound advice for newcomers.
Want a platform to spend your Bitcoins? Buy courses online here. This strategy refers to hedging your bets as Bitcoin prices are very volatile. This means that money can be lost with short-term trades; it is therefore wise to hedge your bets through opening positions for trade to cut down that risk. So, you may sell the coins hoping that prices will come down further and then you can re-purchase the coins at a low rate.
In fact many Bitcoin traders borrow coins from a Bitcoin broker, trade these on exchanges, and then return the borrowed amount. All this will pay off if the prices keep going up and not down.
You may also hedge using the CFDs or contracts for difference that are not the real cryptocurrency, but derivatives. You may also hedge using Bitcoin Futures which are contracts between two parties on trading Bitcoins at a particular price at a decided date in the future. Beginners as well as experienced bitcoin traders should gain a bitcoin revolution Erfahrungen to learn how the automated trading bots help in increasing the bitcoin trade and speed.
This is why you will have to make sure that you have set your clear goals and you know exactly what you want in order to be able to achieve that success you are hoping to get. Once you have completed this step you will be able to develop your signature technique, which is also considered one of the most powerful strategies that will help you easily achieve your success. If you want to have a successful experience and make insane profits while trading with Bitcoin, then you should definitely take advantage of the points that we have mentioned above.
Take your time, carefully go through each paragraph, and apply them to fit your preferences. Log In Register. Remember Me. Lost your password? Home Future Tech Bitcoins. Send this to a friend. Send Cancel.