Connect with us

news

What Does It Take to Become a Savvy Crypto Trader?

Get Into Cryptocurrency Trading Today Day trading isn’t for everyone, as there is a lot to consider before jumping in, but it is an interesting field. You need a game plan. And if you thought forex was dynamic, then cryptocurrencies have added some fascinating dimension into the industry.


Get Into Cryptocurrency Trading Today

Day trading isn’t for everyone, as there is a lot to consider before jumping in, but it is an interesting field. You need a game plan. And if you thought forex was dynamic, then cryptocurrencies have added some fascinating dimension into the industry.

Most forex brokers are now accepting cryptos, especially Bitcoin, for currency trading. 

Cryptos are a higher-risk trading tool, as they are pretty new, compared to fiat currencies. But once you get the hang of it, trading cryptos is fairly easy. So, should you jump in and start trading your hard-mined coins? Well, I think you should check out this guide first before you do that. 

What Is Crypto Trading?

Crypto trading involves buying and selling your coins through a crypto exchange platform, or speculating on currency price movement through a Contract for Difference (CFD) trading account.

Just like in forex, CFDs trading allows you to speculate on price movement before buying a specific coin. In short, you can go short (sell) if you believe that a crypto coin will fall in value, or go long (buy) if there is a possibility of a rise in the value of the underlying coins. 

So, what drives the prices of these crypto coins?

Like most trading markets, Crypto markets are also driven by supply and demand. The only difference is that cryptocurrency markets are decentralized and are usually free of political and economic factors. Here are some key driving factors:  

•    Media coverage: Usually, when a currency is mentioned in the news, what follows is an influx of traders focusing on that coin. This often triggers a rise in value. Savvy investors might want to profit from the coin, making other investors panic and engage in a rush sell, which might lead to a drop in value. 

•    Simultaneous volatility: The cryptocurrency market is associated with sharp rises and deep falls in prices. Interestingly, multiple cryptocurrencies tend to fluctuate in tandem. 

•    Coin idiosyncrasies: Different coins may also be influenced by their unique factors. For instance, if a big investor supports one of the cryptocurrency, it will likely gain in value. 

•    Integration: The extent to which a coin integrates into other popular infrastructure like e-commerce payment systems might make them more desirable. 

Typically, Cryptocurrency trading is ideal for investors who don’t mind trading with high-risk, high reward instruments. While there are several strategies that traders use to make their investment decisions, the two common ones are chart analysis and speculation. 

•    Speculation is when an investor thinks the price of a coin will rise or fall as a result of a specific event. It could be any of the above listed influential factors – for instance, a positive news story. 

•    Chart analysis is a strategy that involves studying historical price movements of a specific coin and then trying to predict how it will turn out. In most cases, a trade would monitor the price changes every few minutes, or even seconds. 

How Does Crypto Market work?

As mentioned above, crypto markets are decentralized. What this means is that they are not backed or issued by a central body such as a government. They also exist as a shared digital record of owners. Nevertheless, cryptocurrencies can be bought or sold through exchanges. 

What Else Should I Know Before Trading?

Now that we have touched on influential factors and the main strategies that traders use let’s also discuss the mental element of trading.

1. Accept Losses
As mentioned above, cryptocurrencies trading is a highly volatile activity. Some cryptocurrencies might not go as you planned. In short, you should be able to admit losses when they occur. Just take them as part of trading.

Even the pro traders have made wild losses in some of their trades. 
What you don’t want to do is chase losses. Some investors may be tempted to try to recover their losses by taking high risks. 

2. Volatility
Perhaps volatility is the one thing that differential real-world assets and crypto-assets. Here, volatility is when the value of an asset rises or falls rapidly.

It can be a great success for a trader who is selling at a hiked price, but it can also be a great failure for the person who bought a coin just before the sharp drop in value. 

In the cryptocurrency market, it is not uncommon for the price of a coin to move up or down by more than 10 – 50% on a given day.

For instance, in early 2018, E-Coin, then a relatively new coin, moved up in value by over 4000% in a span of 24 hours. Sadly, the coin dropped back to where it started. 

3. Short Losses
The good thing with currency trading is that you can set a price at which you will exit your trade or a stop loss. Let’s say you bought your Bitcoin at $9000, and you want to prevent a sudden drop in its price.

What you will do is set yourself a stop loss of, let’s say, 10%. So, if the value of a Bitcoin drops below $8,000, the system will automatically sell your investment at $8,100.  

4. Targets
Besides taking care of losses, you should set some targets. Basically, you should have a rough expectation of how much return you expect from your trading. Most currency traders look for quick gains, which is usually less than 1% per trade.

This strategy might work for traders with a heavy bankroll. But savvy traders are unlikely to risk more than 1% of their total money on a single trade. So, if your total bankroll is $1000, then you should never place over $10 per trade. 

Where Can You Trade Cryptos?

If you have already absorbed most of the above information, you can look for a suitable crypto trading platform.

To choose the right platform, you have to understand your trading goals – for instance, do you want to trade short terms or long term? You should also consider the reputation of the trading platform, Security features, insurance fund, commissions and spread, trading fees, and asset prices. 

With that said, there are a few better places you may want to give priority, such as the largest crypto exchange platform, Binance. Other notable platforms are Coinbase, Bitpanda, eToro, Coinmama, OKEx, Bitmex, Huobi, Bitfinex, and Kraken. 

Trading Cryptos via an Exchange

To trade cryptocurrencies through an exchange, you need an exchange account. Exchange platforms bring their own learning curve that you need to get comfortable with to make sense of the data.

Some may limit you on how much you can deposit. If you are a complete beginner in the crypto space, you can use a CFD broker account. This way, you can trade against a specified value without actually buying the coins. 

But before trading real money, try a demo account. Luckily, most crypto trading brokers offer free demo accounts, which let you test their interface, tools, and other features by playing with money. 


Buy & Sell Cryptocurrency Instantly

Continue Reading
Advertisement

news

Online Trading platform SIRIX

best-forex-demo

SIRIX|  Online Trading platform SIRIX Review

[yasr_overall_rating]

Everyone that has been trading for some time has most likely traded on the metatrader 4 trading platform of metaquotes. This has been the standard in the industry for the last couple of years.

 

But more and more brokers Like CMSTrader and UBCFX are offering alternatives that might suite certain traders even better then the MT4 as they have a lower learning curve and are designed more intuitive.
One of these platforms is the Sirix Trading Platform.
The Sirix Trading platform is

Sirix, a fully packed trading software with numerous with numerous options and special indicators that are designed by the software company to present you with a personalized trading experience.

Positive features and benefits of the Sirix Trading Platform

Ease of Use: if you are a trader you will be able to access your Sirix trading platform and see all your trades and other information at any place and time. The Web-trader is a fully function trading platform that does not require you to do any download. This has more or less become the norm of the industry and if you for example take the Sirix Trading platform of LegacyFX you will be able to have a download desktop version, a web version and a mobile version.
these in general all have the same functionalities but of course is the mobile version a bit more limited due to the smaller screen real estate.

Indicators and Options: this platform provides build I more than 50 Indicators which for most traders is over kill but it does allow most traders to find the right indications to match their trading behavior and trading strategies.

The Charting Package that Sirix provides is easy enough to understand and gives you as a trader all the information you need, there are different time frames that in combination with the ability to display lines and annotations make this platform feel like it is designed for you.

Social Trading: Sirix has a full feature social trading module that allows you to watch the trades of others which might give you new insights and trading ideas. If you come a across a trader that is particular successful you are able to copy that traders’ trades and create a full automated copy trader,
You as the trader are still in charge and you have the option to trade with lesser or higher amount then the trader you are copying.
In order to use the social trading, you have to open an account with their social trading community.

This can only be done by using a nickname an order to protect you identity. When you are part of the community then you are part of all the brokers that offer this feature to their traders. Meaning you are able to follow a trader that is trading with 12trader while you are trading with account from UBCFX or any other broker that has Sirix.

Now I have to mention that if you look to only trade social then the Etoro Platform is still a better solution s this system is built only for social trading and they have pretty much defined the concept.

 


Sirix Crypto Trading Platform

this is the latest platform that was launched by Leverate.

it focuses , just like the name says more n the trading of cryptocurrencies.

as this company understands that this is the direction where the market is going and more and more traders are asking for trading in Bitcoin or ripple trading to just name a few they have added this feature to the Sirix Platform , this means that every broker that has the sirix trading platform is in theory able to offer trading in cryptocurrencies.

in addition they have launched also a platform that is only trading cryptocurrencies but that will be another review as i have yet to see and play with this system


Conclusion
The Software company Leverate has created a very user friendly platform with inbuilt social trading and news functionality. When they launched this platform in 2012 it was already a good platform but today it rivals the best of them easily.

The Intuitive aspect of this platform is one of the key features and makes the threshold of trading lower for newbies. There is also a fastn amount of Sirix Tutorials out there that will help even the total beginners with the Sirix Platform

Now of the traders that need bots and more indicators then there sis still nothing that beats the metatrader 4 trading platform but for many traders Sirix offers more then enough and makes the trading experience easier then with MT4.
More and more brokers are offering this alongside their other trading platform so you as a trader will come across more and more brokers that have the Sirix Trading platform in their arsenal.

These are some of the Best Broker for trading on Sirix

UBCFX
LegacyFX
12Trader
CMStrader

Continue Reading

news

Who Will Speak at Blockchain & Bitcoin Conference Stockholm?

Who Will Speak at Blockchain & Bitcoin Conference Stockholm?

Bringing DLT Specialists Together:

 

 On September 11, Sweden will host Blockchain & Bitcoin Conference Stockholm organized by Smile-Expo – international coordinator of business events.

The conference will introduce various topics regarding blockchain and will drive attention to the most topical problems of the cryptocurrency market today.

Key speakers:[yasr_overall_rating]

One of the invited experts is the Member of Swedish Parliament Mathias Sundin who is involved in the Tax Committee and the Finance Committee. The specialist has co-founded a revolutionary technological organization Warp Institute and joined financial company Goobit. At the event, the speaker will analyse the power of decentralized systems, evaluating its long-term strenghts.

Head of Digital and Innovation at Landshypotek Bank Merete Salmeling will deliver the presentation, too. She will explain how DLT can be integrated into the real estate, and what advantages it brings.

President of Blockchain Alliance Europe Tanja Bivic Plankar will join the conference as well. Being an initial coin offerings expert, she will share knowledge about ICOs, describe recent innovations in the token sale sphere and talk about the regulatory framework.

Meet the speakers at the Blockchain & Bitcoin Conference Stockholm

Regulatory and legal challenges coming with innovations will also be discussed by Dr. Guenther Dobrauz-Saldapenna – Partner & Leader PwC Legal Switzerland. The speaker is a lawyer, VC investor, and banking specialist. He provides business consultations and has already written 10 books discovering innovative processes, money and technology.

See the full list of Key speakers here

Blockchain & Bitcoin Conference Stockholm is the second crypto event in Sweden carried out by Smile-Expo. The company has already held 40 successful crypto conferences in 25 countries.

Use an opportunity to meet leading DLT specialists, ask questions and learn new topical information about the blockchain industry at first hand at the conference!

Blockchain & Bitcoin Conference Stockholm

Details of the event and registration are available on the official website of Blockchain & Bitcoin Conference Stockholm.

Continue Reading

news

Go Visit the Blockchain & Bitcoin Conference Stockholm

Go Visit the Blockchain & Bitcoin Conference Stockholm

The Blockchain & Bitcoin Conference Stockholm is a highly anticipated crypto event in Sweden.  and is being held for the second time.

after the success of the first one they look to make this event a annual one.  since the crypto industry is going more and more out of the shadows and becomes more mainstream you will find that the quality of people involved also grows.

this is clearly displayed in the extensive list of speakers at this event.

Event goals:

bringing together the international business community in order to share their experience of integrating blockchain and cryptocurrencies; discussing blockchain industry issues and finding ways to solve them; encouraging a balanced growth of the cryptocurrency market.

Conference topics: 

  • blockchain in various sectors: energy industry, real property, newsmaking etc.
  • Legal regulation of the blockchain sector
  • token models and their application
  • ICO regulation.

Speakers:

the list of world-renowned blockchain experts, including government officials, foreign investors, entrepreneurs, lawyers, and developers is impressive and should get this event the notice it deserves.

Meet the speakers at the Blockchain & Bitcoin Conference Stockholm

who should not miss this Event :

investors, business people, lawyers, startup founders, and those aiming to launch a token sale.

why should not miss this Event :

:to receive full information with case studies about the blockchain application, to discover how to comply with the legal norms in the blockchain industry, to find business partners, and to enhance your brand awareness.

Prices of the Event

Standard ticket  – 240 EUR

  • Full access to all conference sessions
  • Access to demo area
  • Сoffee breaks
  • Speed networking

Student ticket – 121 EUR

  • Full access to all conference sessions
  • Access to demo area
  • Сoffee breaks
  • Speed networking

A valid student ID should be presented at check-in. No refunds on the day of the event.

Buy Your ticket Now


Blockchain & Bitcoin Conference Stockholm is a part of the series of Blockchain World Events held in 25 countries. The organizer is Smile-Expo International Company.

events around the globe

Continue Reading

Trending