Now that you have Day Trading Cryptocurrency 101 up your sleeve and have come to terms with the risks involved, it’s time to go and get a piece of the pie. There are countless day trading strategies and a wealth of information out there, so it pays to do your research (literally). The more you know about the cryptocurrency market and various trading strategies, the better off you’ll be.
While Bitcoin currently comprises around half the entire cryptocurrency marketplace, exclusively focusing on that option is simply holding yourself back. Another major crypto worth your attention includes Etherium (its “Ether” is currently worth around 40 percent of Bitcoin) as well as Litecoin and Ripple, which are notably smaller and more volatile digital currencies.
But Robinhood sees giving away the service for free as a powerful play to gain users for its existing service that lets people trade stocks, ETFs and options without additional charges. Its stylish, retro-future Tron interface is also a super easy way to check on pricing and news about 16 coins: Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, Ethereum Classic, Zcash, Monero, Dash, Stellar, Qtum, Bitcoin Gold, OmiseGo, NEO, Lisk and Dogecoin. Tracking is now available for everyone, with trading coming to waitlisted users and more states soon.
In future articles I will discuss in more detail some of the strategies I’m using to set my limit orders. But hopefully this article serves as a comprehensive guide to getting started trading cryptocurrencies on an exchange.
The Commodity Channel Index (CCI) is a technical indicator used to spot trend changes in the market. Despite the name, the CCI indicator can be used in multiple markets, not just in commodities. The indicator works by comparing the current price to the average price over a determined period of time. The indicator can be positive or negative as the price fluctuates above or below the zero line. The CCI indicator was initially developed for long term trend changes, but can be used for a variety of time frames including monthly charts, weekly charts, hourly and even minute charts.
Bitcoin is great and I’m definitely going to be making use for it in the near future, however, trading it back-n-forth is something I’m not interested in. The whole idea of Bitcoin is to get away from this fraudulent system presently controlled by the banksters. The banksters, and their never-ending bailouts and market manipulation, has destroyed any confidence of an ordinary investor smart enough to stay away from them. The entire global financial financial system, starting with Wall Street/City of London should be reorganized in bankruptcy court and every bankster responsible for architecture of QE TARP ZIRP 0% unlimited bailouts should be prosecuted to the fullest extent of the law and incarcerated.
“12th in the Nation”, 31.9% (Feb 1-June 1), 85 Entrants, Futures Division, U.S. Investment Championship, 1984. Below is the actual trade sheet from the competition. Click here to view Barrons rankings.
Unlike fiat money, Bitcoins and other cryptocurrencies have no central bank that controls them which means that cryptocurrencies can be sent directly from user to user without any credit cards or banks acting as the intermediary. The major advantage of cryptocurrencies is that you can’t print them like central banks do to create fiat money.
A total of $1.6 billion have been globally raised via ICOs already, but as I mentioned, ICOs were recently banned in China, so the Securities and Exchange Commission (SEC) is receiving immense pressure to propose similar rules to regulate ICO phenomenon as well. So any US-based companies planning their ICO might want to reconsider. You can find a comprehensive list of upcoming ICOs on CoinSchedule.com, although I recommend that you look but don’t touch. Now it not the time for ICOs.
The trading bitcoin for profit is actually a universal cryptocurrency trading strategy that can be used to trade any of the 800-plus cryptocurrencies available to trade as of today. If you’re not already familiar with cryptocurrencies it’s best to first start with a brief introduction.
Since Bitcoin’s official release in January 2009, cryptocoins have transformed the financial industry. Many have heard about popular cryptocurrencies such as Ethereum or Bitcoin or Ripple, but few know how they work, where they come from or what is needed to get started in the crypto space. So this is your guide to understanding cryptocurrencies and how they are reinventing the financial landscape of tomorrow.
Developed in April 2011, Namecoin was the first-ever altcoin. Apart from being a currency, Namecoin’s chief purpose was to fully decentralize the process of registering domain names. Through Namecoin’s robust ecosystem, the internet’s censorship has become difficult. Once placed among the top ten cryptocoins, Namecoin remained a successful investment option throughout its short-lived popularity.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.