The same goes for winning trades. If you have one or two winners, you are done for the day. Walk away until tomorrow. As you become more experienced you can extend this out. The reason for this is because after a few wins, you become overconfident and you will start making bad trades that push your risk. Everybody falls for this, so don’t think you are too smart not to fall for this trick.
You can place a limit order to buy or sell cryptocurrencies for any USD amount (above $0.10 USD for BTC, and above $0.01 USD for ETH), or in any fractional amount of a cryptocurrency (above 0.00001 BTC, or 0.001 ETH).
Hey dude! You had a great article posted here. Your tips caught my attention so well especially in crypto trader huh. Many of my colleagues are in bitcoin trading and they are doing well too. They buy bitcoin and trade it.
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This post would not be worthwhile if there’s nothing to gain in Bitcoin. In case you are still in doubt as to what you could possibly gain or what’s in Bitcoin for you, you need to really pay undivided attention to what I am about to tell you now.
Yes, in hindsight (which is always a stupid way to evaluate it) you would make money. But you would’ve made WAY more money holding. Eth was somewhere around 90x returns just holding last year. You think you can compete with that by day trading? Especially after the constant transaction costs you’re incurring?
First things first, buying and selling Bitcoin isn’t even remotely close to being the same as using the stock exchange to purchase or sell stocks. On the same note, it isn’t anything like FOREX and should never be considered the same thing.
So, Any thoughts about bit panda? My friends are trying to convince me to open an account there but after some research, I find a lot of different opinions… bitemycoin.com/cryptocurrency-exchanges/bitpanda-review/ says it’s one of the best, your comparison puts it in the middle, and bittrust.org/bitpanda shouts: IT’S A SCAM !! What’s your opinion?
Thanks for this, so my story: I’m new and have been using Coinbase then suddenly was told I need to verify ID to continue buying. I’ve tried several times but have been unsuccessful, most likely because I recently moved from California to New Mexico. And as everyone knows their customer service is virtually non existent. So I’ve been trying to sign up with several other exchanges but keep getting told they don’t do business in New Mexico. I guess I’ll just keep trying exchanges until I don’t get rejected…unless you know of ones that do business in New Mexico.
Cost: The cost is 0.1015 BTC i.e. $1,167. This is the maximum you can lose should the price fall by 10% to $10,500. If the price was to crash to $5,000 your loss is still limited to $1,167. This is the beauty of the Bitmex contract. Trading Futures Contracts on the CME, for example, there is no such limited risk facility — you can lose a lot more than your initial margin.
The Gekko trading bot is an open source software solution hat can be found on the GitHub platform. It was last updated a month ago, which seems to indicate it is still being actively developed. Using this automated trading bot seems rather straightforward, as it even comes with some basic strategies. It is not a high-frequency trading bot by any means, nor will it exploit arbitrage opportunities. With a good list of supported exchanges, Gekko could be worth checking out.
That said, be wary of the speculative and unregulated nature of cryptocurrency news. Between Reddit, Steemit, Twitter, Telegram and mainstream media outlets, there are vast discrepancies in the quality of information and plenty of outright falsehoods. In time, you will develop your own understanding of what is credible; and what to take with a grain of salt.
the reason people measure against BTC is because usually the gateway to buying crypto. If you bought a crypto using BTC it only makes sense to measure performance against BTC. You can also measure against ETH. Here is a video that explains it pretty well:
Unfortunately for those suckers, I made a killing (and still am making a killing) by betting against everything they were saying. When you tell the truth and stand up for something, most people won’t like it. The only real way to deal with suckers is to take their money on the way down.
Trading with emotion is lethal. You can only lose money if you close the trade. Anyone who has lost money trading crypto needs to either learn quick or stop trading as it’s almost impossible to lose. So far losses have always recovered if you hang in and not panic.