May 18, · with a good strategy,research and some knowledge on price action,support and resistance you can make very good profits,With my trading experience, trading Strategy Guides offers trading guides and resources to help traders in all walks of life and motivations. i will guide you in all skill levels how to trade stocks, options, forex, cryptocurrencies, commodities, and more. i will address and. Jan 23, · Bitcoin is no doubt innovative as a payment option, and it runs on Blockchain technology. You will learn how you can trade bitcoin even if you are just a beginner. Start making money with bitcoin and other cryptocurrencies. Block rewards are given to miners who successfully completed the recognized process that gives rise to a Bitcoin. If you want to earn money by day trading, you need to learn a few things to put yourself on the right path. This guide will give you a proper introduction into day trading Bitcoin – the technical and psychological aspects, what you should know in advance and how to maintain a stable income.
Trade bitcoin successfullyThe Best Bitcoin Trading Strategy - 5 Easy Steps to Profit
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. Chintan Patel says:. Today, investors can simply trade cryptocurrencies using standard limit and market orders, or they can go one step further, and trade crypto derivatives such as futures, options, and swaps.
All-in-all, the crypto markets are easily diverse enough to allow traders to see a healthy return on their investment, allowing traders to both long or short, with or without leveraged exposure if they choose to do so. If, or when this happens, it is widely expected that a large influx of new money will occur, potentially leading to another crypto boom.
Cryptocurrency spot trading consists of opening a trade in the actual underlying cryptocurrency and not a derivative built on top of it. In spot trading, traders generally do not use leverage, which makes it the ideal starting point for newcomers to crypto. When using a spot exchange, you will also have the ability to withdraw the crypto assets that you are trading.
This makes spot trading the preferred option for high-time frame traders and long-term investors. The best crypto spot exchanges are:. Cryptocurrency futures are a derivatives product that enables traders to bet on cryptocurrency prices with high leverage up to x on both the long and short side. Crypto futures stand out for being extremely liquid and having very low fees, comparatively to the rest of the market. In the cryptocurrency market, there are two main types of futures: regular futures and perpetual futures.
Regular futures have a set expiry date, at which the contract is settled. Perpetual futures do NOT have an expiry date, as their name indicates. Interestingly, the concept of a perpetual future only exists in the cryptocurrency market, and it also accounts for the vast majority of crypto futures trading volumes.
Some of the most popular crypto futures exchanges are:. Cryptocurrency options are also a type of derivatives contract. Options enable its owner to purchase or sell a cryptocurrency for a specific price, at a specific date. Options are highly sophisticated bitcoin trading instruments that enable traders to limit their downside while leaving the upside open-ended. This derivatives product is an excellent tool to hedge a portfolio, but its inherent complexity does not make it a good fit for traders that are just getting started.
The most popular crypto options exchanges are:. Not all technical analysis TA concepts that work in traditional markets also work in cryptocurrency trading markets. This section covers some TA principles that also work in crypto. The aim is to give you a handful of tools that help you to get started. The Ichimoku indicator aims to help traders find trends in the market price of an asset which can then be exploited through swing trading. The key concept that you need to understand is that if the coin is trading above the cloud and the current cloud is green, then the asset is in a bull trend.
If, on the other hand, the price is below the cloud and the current cloud is red, then the asset is in a bear trend. Just like Ichimoku clouds, moving averages are also used for identifying trends. They act by smoothing the price over your time period of choice, which makes it simple to detect market trends.
To leverage the true power of moving averages, traders combine at least 2 moving averages to get buy or sell signals. Major investors often use this as a buy signal. When opening a trade with this strategy, you would simply buy crypto assets that print a golden cross, and short assets that print a death cross.
The reason being that some of the patterns that these candlesticks form can be used to predict future price development with reasonable probability. They usually signal the start of a strong trend in the direction of the engulfing candle. If the candle engulfs more than just the previous candle for example the last 2 or even 3 candles , then the trend shift is expected to be stronger. Hammer and inverted hammer candles signal strong rejection of the market price from a key level.
They are characterized by a long wick, and a small body. If a regular hammer candle occurs, that means that the price was rejected from the bottom and that a rally is likely to follow. On the other hand, in an inverse hammer candle, the price was rejected from the top and a price drop is likely. As a general rule of thumb, the larger the wick in the hammer or inverted hammer candle, the stronger the trend shift will be. The final candlestick pattern that we cover is morning stars and evening stars.
To draw a trend line, simply draw a line beneath or above the price that the price has tested on more than 2 occasions and has so far respected. Once the line is drawn, you can clearly see if the market is trending up or down and trade accordingly. It works by quantifying the speed and change of market movements.
Traders consider the RSI to be overbought when it is above 70 and oversold when it is below Hence, when it is above 70 a trader would start looking for shorts while if it is below 30 the trader would start looking for longs. That said, again, RSI divergences should not be used as a standalone indicator for buy and sell signals and should ideally be used in combination with a trend following system like Ichimoku.
This rather impressive way of trading is taking over the crypto world and you should definitely make sure that you are open to taking all of the benefits that come with it. Another feature that is closely related to the achievement of your online Bitcoin trading success is by practicing your determination. If we take the same example as the previous segment, just by using a Bitcoin trading platform you will be able to get the most suitable trading opportunities that exist and ensure the possibility of success.
This is the case just because platforms of this kind are powered by the latest technological advances, also known as Artificial Intelligence. All of this means that all of the data that you put into your trading account as well as the deposits and investments that you place will determine the trading deals you get.
Here you will have to pay close attention to the factor of determination as you will have to continue working on your goals of achievement. Your determination to the ultimate goal of reaching a successful Bitcoin trading journey will help you get closer to the results that you want.
If you take a look at the main headline of this article you will be able to see that all of these points that we are discussing can be used in a form of a strategy to help you get closer to your final segment of success and accomplishment. 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.