🎓 Trading Guide Andrew Strogoff

Cryptocurrency Trading For Beginners- Online Course For FREE

Trading Guide
From trading basics to tactics and strategies. With the 12-part course, you’ll learn the ropes of cryptocurrency trading
Cryptocurrency Trading For Beginners- Online Course For FREE

Many people nowadays want to try cryptocurrency trading. They create accounts on different exchanges, invest money, start trading. However, as statistics shows, only 10 percent of traders are successful. This is the main reason why we have decided to create our free online course on how to start cryptocurrency trading.

The main reasons why the majority of newcomers lose all their money or a part of their investments buying or selling cryptos are the following:

  1. Lack of basic knowledge about the structure and principles of financial market activity. The majority of beginner traders have little knowledge on how exchanges work and why the price changes.

  2. Wrong choice of cryptocurrency exchange. Those websites vary as they offer different trading conditions, types of orders, trading platforms, security level, quality of the support etc.

  3. Lack of understanding how to forecast price fluctuations. Most beginners don’t know how to predict price fluctuations and they place orders randomly, sometimes in the end of big tendencies.

  4. Absence of basic money and risk management rules. Newcomer traders often try to place orders, using all their means. They do not place stop losses and have no profit targets (which results in the absence of understanding where to fix positions).

  5. Lack of discipline. Beginners often take right decisions, but they are not disciplined to follow their trading systems.

  6. Absence of a strategy and trading plan. Professional traders always have a strategy, which helps them to find entry points. They have also a trading plan comprising their risks policy etc.

  7. Influence of different types of emotions. Novice investors are often affected by fears and greed. Those negative emotions lead them to defeat.

  8. Lack of money. This is also one of the reasons, why many beginners lose their investments. They put a small amount on their trading account, trying to increase it in a fast manner. However, they end up losing all their means as they have to break too many rules, including money and risk management to achieve their goals.

💼 Related Article
Bitcoin vs. Gold: Which is a Better Long-Term Investment Opportunity
🔥 Hot
6 months 4 weeks
256
Bitcoin vs. Gold: Which is a Better Long-Term Investment Opportunity

How to get started in cryptocurrency trading

All traders have two ways to start cryptocurrency trading. The first is to open an account in any crypto exchange, to put money and to begin placing orders, looking at the charts. This way is the easiest one, but in most cases, it is a dead end scenario. Why?

Those investors have almost no chances to win as they have no skills, neither experience. There are some lucky guys, who catch serious tendencies accidently. However, they can’t earn money constantly and lose all their profit in the next trades.

Investors, who think about how to get started in cryptocurrency trading, may choose another way– meaning to begin their markets’ journey with proper education. This way is better as an investor will be prepared for different market situations and will be able to react appropriately to them.

For this purpose, we have prepared a special trading course for beginners. It includes several important topics related to trading and investments in cryptocurrencies. Here is the brief plan of what you can find there.

💼 Related Article
10 Best Cryptocurrencies to Invest in 2018
🔥 Hot
6 months 4 weeks
256
10 Best Cryptocurrencies to Invest in 2018

Trading basics

Trading is not about winning a couple of times occasionally. It is a long-term journey with many obstacles along the way. The main task of every investor is to overcome them and to earn money. Sounds easy, doesn’t it?

However, as we have already mentioned above, only 10 percent of traders are successful as the others retreat at some point in their trading careers losing their investments. When you start you need some knowledge to understand the price fluctuations, the reasons why quotes go ups and downs, find entry points and protect your capitals.

In the beginning of their career some traders try to start with strategies as they want to reach their targets faster. However, this is a wrong way as strategies is a practical aspect already. Beginners need theory in order to understand how it works in general and what factors affect price fluctuations.

We start our free online cryptocurrency trading course with several articles on how to trade in general and what are the main factors, influencing the price of Bitcoin and Altcoins. The information in those articles may seem obvious and well-known. However, it is very important as here there are the basics of trading, how it works and the aspects that are worth your attention.

Trading financial markets and cryptocurrencies is like driving a car. You may know how to start the engine, to change gears or to steer. Nevertheless, if you don’t know traffic rules, you can’t drive safely. When you deal with financial markets, you have to know the main rules to better understand what’s happening around you.

💼 Related Article
Top 10 ICOs by Funds Raised, From Filecoin to TRON
🔥 Hot
7 months
256
Top 10 ICOs by Funds Raised, From Filecoin to TRON

Analysis methods

Those who have already learned basic information about markets and cryptocurrency trading may take the next step. Market fluctuations look unpredictable at first glance as the price moves up and down. There are two main analysis methods helping investors to forecast the price– technical and fundamental.

The first one helps traders to predict price fluctuations via charts. There are several types of analysis tools that you may use in order to make market forecasts. They are the following:

  1. Indicators

  2. Candlestick patterns

  3. Graphic patterns

  4. Price action

Technical analysis is illustrative as you can see the price changes and all signals on the chart. This method is rather simple as it requires no special knowledge. The only thing traders need to learn is how this or that tool works.

Fundamental analysis is more complicated as it is not illustrative. In cryptocurrency trading, investors monitor the news and try to predict their influence on different coins.

Those are brief descriptions of those methods. In our complete cryptocurrency analysis methods guide, you will learn much more about those two forecasting techniques.

💼 Related Article
Past ICO Review: How Aragon Freedom Fighters Gained Traction
🔥 Hot
7 months
256
Past ICO Review: How Aragon Freedom Fighters Gained Traction

Trading tips and tricks

Most beginner traders are looking for some Holy Grail when they start their career. They think there is some unique strategy or system, that will give profit in any situation. This belief leads some traders to significant losses as they try many systems and fail finally.

There are some trading secrets, that may help all newcomers significantly. We have prepared several articles on this subject. We are not going to give you a Holy Grail of trading as it doesn’t exist.  We will provide some useful advice that will help you in your everyday trading routine.

Money and risk management

There is a strong belief among beginners that a strategy giving 100 percent positive results can be found. However, professional traders know and understand that the outcome of every single position is random and can’t be predicted.

How do they make money, if they have not a 100 percent strategy to win? The secret here is proper money and risk management system. There are several ways to reduce risks in trading. We are going to provide you with some useful methods in our articles.

Money management may be compared to a family budget. Those who plan it monthly and yearly, make savings. Those who avoid to do it or fail to plan family budget properly, spend all their money and make debts.

The situation with trading is the same. An investor has to properly manage his or her money as it is his or her trading budget. If successful, he will increase his or her investments and will have an opportunity to reinvest them partially to increase his or her trading capacities. Otherwise, he risks to lose a part or all invested capitals.

As for the risk management, it goes hand by hand with money management. Remember the advice and rules that we suggest in our articles.

💼 Related Article
Past ICO Review: How Aragon Freedom Fighters Gained Traction
🔥 Hot
7 months
256
Past ICO Review: How Aragon Freedom Fighters Gained Traction

Trading psychology

For some beginner traders, the psychology aspect sounds like chimera. They skip those long but interesting articles thinking that they have no useful information for them. However, the truth is that psychology plays the key role in trading.

What is happening when a trader places an order to buy or sell cryptocurrency? Several emotions affect his or her decision including fears, greed, excitement and the others. Those have ruined many trading accounts already as investors sometimes take  illogical steps influenced by his or her inner “enemies.”

Why is it very important to read those articles about trading psychology? They will help you to find out your inner “enemies” and to fight them to decrease their influence on your trading routine.

How do emotions affect investors results? Briefly, they make trader to breach self-discipline and to deviate from his or her trading system. Let’s say an investor has bought Bitcoin for $9,000. He conducted an analysis previously and found out that the price may rise towards $9,500. He sets this level as his or her target and places order.

Later, the price reaches this level, but trader becomes greedy, thinking he can earn even more. Instead of closing the position at a previously established level, he does nothing, waiting for more profits. Here there are two possible scenarios– the price may develop its progress further upwards or decline from those levels. What is the best idea here? To follow previously established trading rules.

Trading psychology articles will teach traders how to control their emotions and not letting them out in the moments of placing and closing orders.

💼 Related Article
Where to Spend Your Crypto Earnings in 2018
🔥 Hot
7 months
256
Where to Spend Your Crypto Earnings in 2018

Articles on trading

Those who learn how to make money from cryptocurrency trading, may be interested in special articles, regarding trading plans, work on errors, trading systems etc. They are very important aspect especial for beginner traders as they need to follow their trading plan in every single position.

Trading strategies

Professional cryptocurrency investors use different strategies to increase their chances to get profit. Those strategies are sets of rules to find entry points. They are very important as those systems allow traders to place orders wisely and not randomly as most beginners do.

Here you can explore trading strategies from the easiest to more complicated. Those are the samples of what you can do for your trading routine. All the systems are adopted for cryptocurrency trading.

Vocabulary

It is a separate section with the most popular and commonly used trading terms. It is important to know them as those words can be found not only in our daily reviews and different articles including this cryptocurrency trading beginners guide but also on different forums.

💼 Related Article
Blockchain in Space 2: Fear is the Path to the Dark Side
🔥 Hot
8 months 2 weeks
256
Blockchain in Space 2: Fear is the Path to the Dark Side

How to choose a cryptocurrency exchange?

This is an article, giving readers some tips to make their cryptocurrency exchange choice easier and more effective. We are going to give you complete guides on the most popular trading websites as well.

Conclusion

As you may see, this crypto trading guide for beginners covers different aspects of trading. You will be provided with all necessary theoretical materials. Have a nice practical journey upon completion of this course and do not hesitate to ask questions.

💼 Related Article
Scaling Blockchain by Going off the Block: Constellation’s Partitioned DAG
🔥 Hot
7 months
256
Scaling Blockchain by Going off the Block: Constellation’s Partitioned DAG

🎓 Trading Guide
views
👓 Recommended articles
🎓 Trading Guide Andrew Strogoff

EOS Trading for Beginners: How to Trade EOS Profitable

Trading Guide
EOS trading, how to find best entry points, comparing EOS with Ethereum
EOS Trading for Beginners: How to Trade EOS Profitable

Trading cryptocurrencies is not as easy as it may seem. However, those who have appropriate knowledge are able to invest in cryptos profitably. In this EOS Trading Guide for Beginners we are going to provide you with necessary information about the project, coin and its specifics. We are also going to compare EOS with its closest competitor – Ethereum.

EOS is a blockchain platform for dApps. The idea behind this system is to provide users with best known practices allowing businesses and private persons to benefit from high level of security and computing support.

One of the main advantages of this platform is that it will allow users to conduct thousands transactions per second. This level of scalability is out of range for Bitcoin and even Ethereum nowadays. The aim of the team is to create a complete operating system for decentralized applications giving the opportunity to user to benefit from high level of security, server hosting and cloud storage.

💼 Related Article
Litecoin Futures to Be Launched by Top British Trading Company, Crypto Community Worried
🔥 Hot
6 months
256
Litecoin Futures to Be Launched by Top British Trading Company, Crypto Community Worried

EOS trading. The main features of the project

Before an investor or trader puts his or her money into this coin, it is necessary to learn the main features of this system.

One of the main specifics of this network is its high security level. All users accounts have different permission levels. There were several updates of the system allowing users to store their data off the blockchain. There are also some features helping EOS clients to restore access to their compromised and recover stolen accounts.

Another great feature of EOS is its scalability performance. There is no doubt that future of cryptocurrencies as payment method depends not only on security of data transfer, but also on how fast the transaction may be executed. Bitcoin and Ethereum use PoW consensus method, which is criticized by the crypto community nowadays.

EOS uses another method, which focuses on transaction instead of the state of the whole system. This allow to significantly increase the speed of message exchange within the network up to one million per second.

💼 Related Article
3 Problems Stopping Crypto From Mass Adoption, and One Solution That Solves Them All
🔥 Hot
6 months
256
3 Problems Stopping Crypto From Mass Adoption, and One Solution That Solves Them All

EOS team and coins

Before trading EOS or investing in this coin, one need to learn more information about the project’s team. The system is created by Block One company, led by Dan Larimer. This person is famous in crypto industry as he was founder of Bitshares and Steemit.

As for EOS coins they are listed on most of major trading places and have medium liquidity level as compared to other cryptos. EOS is on the fifth place in the list of market capitalization according to coinmarketcap in the moment of writing.

Comparing EOS and Ethereum

EOS vs Ethereum

Once you have decided to trade EOS or hodl it, you need to know the closest competitor of this project. EOS is designed to create dApps and smart contracts meaning its rival is Ethereum.

Despite all the similarities that EOS have with Ethereum, those projects are not the same and this information is important for traders and investors in order to understand whether to put money in EOS or not.

💼 Related Article
EOS Price Prediction: How Much Will EOS Cost in 2018, 2020, 2025?
🔥 Hot
6 months
256
EOS Price Prediction: How Much Will EOS Cost in 2018, 2020, 2025?

Target audience

Many investors think that EOS and Ethereum are the same but they have different target audience. EOS adepts think that this platform will be more decentralized as it uses Proof of Stake consensus mechanism as compared to Ethereum, which works on Proof of Work.

EOS is supposed to be the host of different decentralized applications that would high costs if run on Ethereum platform. There is no transaction fee within the EOS network.

Technical differences

EOS team aims at overcome scalability, functionality and usability issues that Ethereum has currently. To do this, developers have implemented delegated Proof of Stake protocol, which helps to eliminate the bottleneck that Ethereum network has currently. Another reason to use it is the ability to freeze the network and to fix broken applications without affecting other accounts.

EOS has chosen this DPoS mechanism to add more democracy into their network meaning no party will be able to consolidate enough coins (PoS) or computing power (PoW) to control the whole network.

Additionally, EOS team expects the system to process 1,000 operations per second and to increase this number in future up to 100,000 transactions. However, Ethereum developers also work on scalability as they seek to introduce Casper technology, an update that will help the network to be more scalable.

As you may see, there are several differences between EOS and Ethereum and it is not clear whether the first is able to “beat” the second.

💼 Related Article
Leadcoin Leads on Dive to the Bottom: Past-ICO Review
🔥 Hot
6 months
256
Leadcoin Leads on Dive to the Bottom: Past-ICO Review

EOS trading and general fundamental analysis

Besides all the above mentioned, when predicting EOS price for trading or investing you need to pay attention to the global fundamental factors that affect all crypto industry. Those are the following:

News and events

There are some news and events that may affect the whole industry. When a country bans exchanges or ICOs, for example, this fact will negatively affect the crypto market as traders and investors will get rid of their coins looking for safer investments.

In general, all negative news have the same impact on the industry and are likely to push EOS and other coins down. As for positive news and events, they will give support to the whole industry helping coins to grow.

Let’s list the most influencing news and events that you need to pay attention to:

  1. Bans of cryptocurrencies, exchanges, ICOs in different countries.

  2. Adoption of blockchain technology, cryptocurrencies, ICOs and exchanges by governments.

  3. New technologies within blockchain industry that lead to scalability, security and other improvements.

  4. Different meetings and conferences and other events that may influence the crypto industry.

Experts opinion

EOS trading may be affected by the experts’ opinion. If there are any comments from famous persons within the crypto community, they may influence EOS price in both short and long term. Those comments may have either positive or negative impact on EOS depending on their nature.

If experts criticize cryptocurrency, this fact is likely to have negative influence on the coin and vice versa, when experts support coins, they are likely to grow.

General market players’ moods

EOS price changes due to market participants’ activities. Bulls try to drive it higher while bears push it downwards generally. Major players may have significant impact on quotes especially for cryptos with low liquidity.

💼 Related Article
Crypto Trading Tips and Tricks: 10 Secrets to Make Your Trading Successful
🔥 Hot
6 months 1 week
256
Crypto Trading Tips and Tricks: 10 Secrets to Make Your Trading Successful

EOS takes the fifth place on capitalization as we have mentioned above. This cryptocurrency is less liquid than Bitcoin or Ethereum meaning it is more volatile and may be seriously influenced by huge players.

Cryptocurrency market has some similar traits with traditional stock and currency industries and sometimes is driven by serious players. All you need to do in this case is to forecast EOS fluctuations and follow the whales.

Strong and weak points of EOS

Before you start trading EOS, you need to know strong and weak points of this cryptocurrency. We have gathered the most interesting advantages of the project. They are the following:

Strong and weak points of EOS

💼 Related Article
Major Cryptocurrency Market Analysis Methods
🔥 Hot
6 months 1 week
256
Major Cryptocurrency Market Analysis Methods

As for weak points, they are the following:

  1. EOS team is lead be Dan Larimer. He is a famous expert of Blockchain technology. However, Larimer is also known for his habit to leave one project before it is completely launched. He left Bitshares and Steemit once he met serious issues.

  2. EOS competitors. Apart from Ethereum, there are other projects like Crown, RChain that are going to release their platforms in the nearest future.

How to trade EOS

Before we make the final stop in this guide, we would like to describe step-by-step how to trade EOS:

  1. The first step to do is to choose an exchange. EOS is rather popular and offered by many trading places including the most liquid ones.

  2. Make EOS forecasting. You can use both fundamental and technical method. Pay attention to Bitcoin price as the first crypto ever affect the whole industry nowadays.

  3. Find entry points. Use a strategy to look for the best chances to open positions.

  4. Determine the appropriate risk/reward ratio. Professional traders advise this proportion to be 1/3 at least. If you are going to invest, read the latest news on EOS in order to understand whether it looks promising in long term.

  5. Use different order types in order to diversify your trading and to find best EOS trading opportunities.

💼 Related Article
How to Trade Cryptocurrencies
🔥 Hot
6 months 1 week
256
How to Trade Cryptocurrencies

🎓 Trading Guide
views
👓 Recommended articles
🎓 Trading Guide Andrew Strogoff

Best Cryptocurrency Trading Platform, How to Choose One

Trading Guide
Best cryptocurrency trading platform, the main criteria to choose them
Best Cryptocurrency Trading Platform, How to Choose One

Cryptocurrency exchanges are numerous nowadays. They offer different services and trading conditions to their clients. They have different level of security as well. Today we are going to tell you how to find the best cryptocurrency trading platform.

Why is it important to choose the best one? Those who start crypto trading, need to open an account with one or even several trading platforms. There are several criteria helping investors to make the right choice. One trading place has higher level of security, for example, but does not support fiat money. The other work with large amount of coins but have few deposit/withdrawal methods.

The importance of choosing the right place for trading is easy to explain. If the exchange does not meet your requirements, you will have difficulties when working with it. For example, you want to trade some rare coins, but the exchange does not offer big choice the its clients. You will need to look for another market to satisfy your needs.

💼 Related Article
Cryptocurrency Trading For Beginners- Online Course For FREE
🔥 Hot
6 months 2 weeks
256
Cryptocurrency Trading For Beginners- Online Course For FREE

Main criteria to find the best cryptocurrency platform

There are several cryptocurrency exchanges currently and all of them try to attract clients as they earn via fees. In order to make the best choice, one needs some aspects to analyze. We would like to suggest several criteria that may be helpful for all categories of traders including beginner investors.

Reliability and reputation

The first thing everybody needs to pay attention to is reputation and reliability of cryptocurrency trading platform. This criterion is the main as if the platform fails (hacker attack, for example), your money (digital assets, tokens) will be stolen.

How to analyze security level of the platform? It is hard to answer this question as hackers always develop new ways to penetrate those exchanges. As for reliability, this information can be found on different websites and forums including Bitcointalk, Reddit and the others.

What kind of information do you need? Everything related to the cryptocurrency trading platform activity including troubleshooting, security measures, how platforms’ team solve problems and the other aspects.

💼 Related Article
Bitcoin Price Volatility Explained
🔥 Hot
6 months 1 week
256
Bitcoin Price Volatility Explained

Another important thing is where the exchange holds clients digital assets. Earlier, most of those trading platforms used hot wallets in order to provide fast access to coins and transactions for their clients. However, the situation has changed with the growth of hacker activities. Many traders remember the situation with MT GOX and some other trading places, which were hacked. Clients lost huge amount of money there.

Most of the contemporary best cryptocurrency trading platforms use different security measures including cold wallets. They hold up to 90-95 percent of clients funds on offline servers and require multisig in order to protect users from malware that may come from administration.

Several exchanges recommend to use two factor authentication, which improves security level as well. This means that you need to receive a special code in order to do important steps when working with platform such as withdrawal, for example.

💼 Related Article
How to Trade Cryptocurrencies
🔥 Hot
6 months 1 week
256
How to Trade Cryptocurrencies

Commissions  

All the best cryptocurrency trading platforms as well as the other trading places require commissions from their clients. The average fee is about 0.2 percent. However, recently exchanges changed their policies and establish dynamic commissions depending on trading volumes and some other important aspects.

When a trader looks for an exchange, he wants to earn more and pay less. It is logical and natural. However, we want to warn that lower fees do not mean better conditions for the trader. Sometimes such trading places with low commissions try to attract more traders as they have low liquidity.

The number of trading pairs

Different exchanges offer different number of trading pairs. The more coins are offered; the larger choice is for investors. However, we would like to mention that trading platforms may be divided into two groups here.

The first offer fiat money but low number of currency pairs. Those cryptos are interesting for those who want to start cryptocurrency trading and have no coins. Sometimes, traders choose those places first in order to buy popular coins like Bitcoin or Ethereum and then choose another platform in order to buy rare coins.

The second group of exchanges offer huge offer of different altcoins. However, there you won’t find fiat currencies.

When choosing one of those trading places you need to understand that the quantity does not mean the quality. The large number of coins is not necessary. It is better to find platform with those cryptos that trader is going to work with.

💼 Related Article
Examples of Cryptocurrency Trading and Cryptocurrency Platforms
🔥 Hot
6 months 1 week
256
Examples of Cryptocurrency Trading and Cryptocurrency Platforms

Trading volumes

Liquidity is a very important criterion as trading volumes affect investors profits directly. Let’s suppose you choose a low liquidity coin with $500 daily volumes. It will be very hard to trade it especially when you have huge amount for trading.

This is the main reason why traders always try to find coins with higher volumes as they will be able to sell them without any problems. Exchanges have their liquidity as well. Those places with low volumes cannot provide you with high profits.

Payment methods

The best cryptocurrency trading platforms offer their clients a large choice of deposit/withdrawal including fiat money (via bank transfer), digital payment systems like PayPal, Skrill, Webmoney etc. Naturally, they provide traders with the opportunity to deposit any coin they offer for trading.

What kind of exchanges to choose according to this criterion? We think that the reply here is more than evident. The more payment methods are, the better is the exchange for every trader.

For those who do their first steps in crypto trading it is crucial to pay attention to those exchanges offering fiat money as they do not have coins and need them in order to start.

💼 Related Article
What is Trading and Cryptocurrency Trading, Their Main Features
🔥 Hot
6 months 1 week
256
 What is Trading and Cryptocurrency Trading, Their Main Features

Verification requirements

It is not a secret that almost all exchanges require verification procedure from their clients in order to abolish all limitations. Those who to stay anonymous, have less opportunities. Sometimes, they are limited in daily trading or withdrawal capabilities. However nowadays there are still those trading places where you don’t need to confirm your identity. Most of those exchanges work with large amount of coins and do not offer fiat money as deposit/withdrawal mean.

Trading platform

Those who come to exchanges in order to simply buy or sell their coins, sometimes do not need even a chart as their aim is to conduct one operation without forecasting the market. However, professional traders always need more tools to take decisions.

Several of the best cryptocurrency trading platforms give an opportunity not only to place buy or sell orders, but also to make technical analysis using different indicators, Japanese candlesticks, timeframes etc. It is important to mention than the wider the range of those tools is the more opportunities any trader has.

The majority of those full functional platforms offer Tradingview charts. Those web tools provide users with different analysis instruments including the most popular and effective indicators both trend and oscillators as well as different chart types.

Type of cryptocurrency trading platform

There are three main types of those platforms and traders or investors need to know which one to choose. The first and the most widely spread is trading platform with many features that allow clients to not only conduct their analysis and forecast future price fluctuations, but also to conduct other trading activities choosing orders types etc.

💼 Related Article
Crypto Trading Tips and Tricks: 10 Secrets to Make Your Trading Successful
🔥 Hot
6 months 1 week
256
Crypto Trading Tips and Tricks: 10 Secrets to Make Your Trading Successful

The second type of exchanges is p2p platforms, which are designed to provide users with an opportunity to work directly with each others avoiding a book of orders. Here you find those who are interested in selling coins to you or buying them from you.

Finally, there are brokers who offer cryptocurrencies to their clients. Those companies mostly come from Forex. They offer several coins from the top 20 and huge amount of analysis tools as they are designed for professional traders and investors.

User interface

The best cryptocurrency platforms have everything traders need to improve their results. We have already mentioned technical analysis tools but there are also some other features that need to be described. In order to satisfy different traders’ categories needs, exchanges provide them with news, volumes, book of orders and other useful information allowing clients to examine market situation.

The interface should be intuitive as there are many traders who work seasonally or come there for the first time. However, user experience is subjective as different traders may enjoy different interfaces.

The best cryptocurrency trading platforms always offer best user experience and they grow faster in volumes as the others. Those trading places are able to boost in a short period of time.

💼 Related Article
Risk Management, Trading Psychology As Key Factors For Crypto Trading Success
🔥 Hot
6 months 1 week
256
Risk Management, Trading Psychology As Key Factors For Crypto Trading Success

Country of residence

Another important aspect to pay attention to is country of residence of the exchange. Why is it crucial to know this? Some US exchanges do not allow traders from wide list of countries due to their regulation. The situation is the same with some Asian trading places.

Those platforms are only available for the residents of the countries where they are established. Localization is also a key moment in decision taking process. Most of exchanges offer English versions for their clients. However, some international trading places allow users to use multilingual websites including several European and Asian languages.

Support service

Finally, we would like to mention support service as one of the criteria that is important when choosing the best cryptocurrency platform. Before you take your decision, try to talk to the support service using different means that the website offers.

💼 Related Article
Bitcoin Trading For Beginners: Trade Bitcoin Like a Profi
🔥 Hot
6 months
256
Bitcoin Trading For Beginners: Trade Bitcoin Like a Profi

Look at their reaction speed as well as at answers that they give. If they do not aspire to help their clients, it is better to choose another one.

Best cryptocurrency platforms

Now we are going to give you the list of the best cryptocurrency platforms according to our view. Check it out below:

  1. Binance

  2. OKEX

  3. Huobi

  4. HitBTC

  5. BitFinex

  6. CoinEX

  7. Upbit

  8. ZB.COM

Those exchanges have high day trading volumes and offer the best services in our opinion as those aspects are connected. The best service a trading platform offers, the more clients it will have in the future.

💼 Related Article
Ethereum Trading Guide for Beginners
🔥 Hot
5 months 4 weeks
256
Ethereum Trading Guide for Beginners

🎓 Trading Guide
views
👓 Recommended articles
🎓 Trading Guide Andrew Strogoff

Cryptocurrencies’ Day Trading Guide

Trading Guide
Day trading features and specifics, how to become successful intraday trader
Cryptocurrencies’ Day Trading Guide

Day trading attracts many traders from all over as this is an opportunity to earn more money in a relatively short period of time. Unlike long-term investing, day trading means placing orders every day and close positions within 24 hours.

Day trading may be compared to a full-time job. A trader places an order within a short period of time and closes them once his targets are reached. With the development of cryptocurrency trading, this style became even more popular due to the high volatility of digital assets.

💼 Related Article
What is Bitcoin (BTC) - Simple Explanation for Beginners
🔥 Hot
7 months
256
What is Bitcoin (BTC) - Simple Explanation for Beginners

Main features of day trading

When a trader wants to practice intraday trading, he or she needs to understand the main specifics of this trading style. They are the following:

  1. All positions should be opened and closed within one day. Most day traders prefer to hold their orders for a couple of hours. Once the signal comes, it works for a couple of hours before the momentum fades.

  2. High speed of decision making. Day traders have to think and act fast as they have not much time to place an order. If they have lost an opportunity to enter the market, they will have to wait until the next signal comes.

  3. Precise entry points. Day traders have to find the best entry points ever. This style of trading means that you don’t need to stay in the market all the time. The only thing you have to do is to find the best entry points, to place orders and to close positions once your signal is done.

💼 Related Article
What is Bitcoin (BTC) - Simple Explanation for Beginners
🔥 Hot
7 months
256
What is Bitcoin (BTC) - Simple Explanation for Beginners

Seven pieces of advice for cryptocurrency day trading

There are several secrets and strategies of intraday trading that may be useful for every investor. We are going to cover the most important ones.

Imbalance of supply and demand

Cryptocurrency day trading means that you need to find entry points within one day and profit from them. In order to find the best entry points, one has to look for the imbalance between bulls and bears as such situations may provoke huge price changes.

In case of the rise of demand, cryptocurrency runs higher and traders have an opportunity to buy. When supply exceeds demand, cryptos decline to offer opportunities for short sellers to get profit.

💼 Related Article
What is Bitcoin (BTC) - Simple Explanation for Beginners
🔥 Hot
7 months
256
What is Bitcoin (BTC) - Simple Explanation for Beginners

Price targets setting

For beginner crypto day traders, it is crucial to set price targets meaning you always need to know where you will jump off the market. By calculating your trading reward in advance you may set your risk level as well in order to follow risk/reward ratio, established in your trading strategy.

Let’s say you see that BTC/USD will run upwards from $6,500 for a couple of hours. Before you jump in the market, you need to find the closest resistance point on the hourly chart in order to calculate your trading potential. For example, the closest resistance on the hourly chart is at $6,350. This means that your target level will be there.

💼 Related Article
What is Bitcoin (BTC) - Simple Explanation for Beginners
🔥 Hot
7 months
256
What is Bitcoin (BTC) - Simple Explanation for Beginners

Risk/reward ratio 1:3

Cryptocurrency day trading is similar to traditional intraday speculations meaning you best money management strategy is when you risk less and can earn more. Several beginner traders do the same mistake when they put risk/reward ratio at 1:1.

This strategy is wrong as you don’t know the percentage of your winning and losing trades in advance. By increasing the reward component in your money and risk management strategy, you simply increase your chances to be above zero in long-term even if your strategy is not the best one.

Be patient

When you look streams from exchanges or some movies on trading, you may see that speculators are always on the run and they can do many things in just one second. However, the truth is out there as a trader has to be patient and wait for a good opportunity to come before taking any decision.

Cryptocurrency traders do not trade every minute of a day as it is impossible. To tell the truth, there are few trading opportunities within 24 hours as the price may make a couple of serious movements during the day. The rest of the day, trader will do other things related to his family, official job or even hobbies.

💼 Related Article
Bitcoin Price Volatility Explained
🔥 Hot
6 months 1 week
256
Bitcoin Price Volatility Explained

Don’t be afraid of trading

One of the most important thing cryptocurrency day trader needs is to fight his own fears and avoid situations when he or she is paralyzed by his own forecasting results. Crypto day trading requires speed from investors meaning you have to act in a fast manner once you have found a trading signal. If you wait too much or start thinking too much, you will simply lose the signal and will have to find another one, which may came the next day.

Do not overheat your funds

Cryptocurrency day trading is a good opportunity to earn more money. However, some traders forget about money management and place orders risking more than they can afford. This may lead to both high profits or huge losses.

Professional traders are not gamblers. They always think about how to protect their money before doing anything on the market. The first rule of a successful trader is not to earn, but to save his funds.

💼 Related Article
How to Trade Cryptocurrencies
🔥 Hot
6 months 1 week
256
How to Trade Cryptocurrencies

Avoid investing too much in a single trade

Intraday trading is full of opportunities. There are several crypto coins that may attract your attention. However, if you invest too much into one of them, you will lose the opportunity to trade the others. In addition, risking too much per one trade leads to bigger losses as we have already mentioned.

Those are the main advices and strategies for intraday trading. However, we would like you to pay attention to some other important things that every successful trader needs to follow.

Self-discipline

We have already mentioned self-discipline in our previous articles speaking about trading psychology and other important trading features. However, for intraday cryptocurrency traders, self-discipline is the key factor of success.

What does it mean to stay self-disciplined in intraday trading? First of all, to stick to your strategy in order to avoid overtrading and placing orders when there is no clear signal.

Why do so many traders lose their intraday cryptocurrency battle? The main reason here is that they simply break their own rules. In general, most of unsuccessful trades are results of lack of discipline.

💼 Related Article
What is Trading and Cryptocurrency Trading, Their Main Features
🔥 Hot
6 months 1 week
256
 What is Trading and Cryptocurrency Trading, Their Main Features

Be ready to adapt to any situation

Short term intraday cryptocurrency trading requires adaptability from every trader and investor. There are no two trading days that are alike. This may pose big problems for those who just use their strategies according to their textbook “prescription”.

It is to mention that every strategy has its examples in the past, but when you deal with it in real-time, the result may be pretty different. Professional crypto traders always know where to use their trading strategies and where to avoid using one or another.

When there is a trend, it is better to apply trend following system while during the range fluctuations, traders need to implement special flat strategies.

Using this or that trading system does not mean that you will be in the market 24/7. Traders need to make a kind of premarket analysis meaning they have to understand whether the current conditions allow them to trade or it is better to do nothing “sitting on the hands”.

Be mentally tough

Day trading cryptocurrencies is not a simple task to do. You will have to face many issues including losses. Losing trades accompany every trader on his way to fortune. Moreover, trading cryptos every day, you will have losses almost on daily basis.

What is the main difference between successful and unsuccessful traders? It is not about winning all the trades or being unbeaten for long period of time. It is about taking more money in profit trades and losing less when the forecasts are wrong.

What does it mean for trader to be mentally tough? First of all, investor needs to squeeze every drop from a trend meaning to stay in market until the opposite signal comes. Many beginner traders attempt to close their positions once the price rises above their breakeven level. However, this approach is totally wrong as the most you take in one single trade, the better your results will be.

It may seem strange but traders are able to have stable profits even if they lose trades. Let’s say you have one loosing and one winning trade within one day. If you stick to 1:3 risk/reward ratio, you will end be earning as your losses will be less significant than profits.

💼 Related Article
Crypto Trading Tips and Tricks: 10 Secrets to Make Your Trading Successful
🔥 Hot
6 months 1 week
256
Crypto Trading Tips and Tricks: 10 Secrets to Make Your Trading Successful

Let’s suppose you have lost $100 in your first trade but won $300 in the second. You net profit will be $200 (without trading fees naturally as we do not treat them in this article).

When trading cryptos on daily basis you need to be prepared for losing streaks as well meaning there will be times when you will close several trades without profits. This is another serious test for your mental skills as well. Only those who have ability to resist to emotions are able to overcome all the issues.

Have your own opinion

Intraday cryptocurrency traders have to rely on themselves only as they have not enough time to consult experts opinion or look for some outer signals and trading alerts. When a trader is in the beginning of his career, he always need some help coming from books, articles, videos etc. However, once he is able to create his own strategy, he is to start working independently.

To tell the truth, a trader is a lone wolf who is searching for his prize alone without any help. Best crypto traders have their own market opinion and are able to forecast quotes without paying attention at what experts will say.

Independence from others’ view is important not only for the reason that you will have to take fast decisions. When you rely on some people who do forecasting, you almost avoid to use your own strategy. This may result in having serious issues once those who provided you with signals disappear.

You should be independent not only from the outer opinion or recommendations, but from the indicators and different trading techniques as well. What does it mean? Cryptocurrency day traders should never forget that the price is the key to any analysis.

💼 Related Article
Bitcoin Trading For Beginners: Trade Bitcoin Like a Profi
🔥 Hot
6 months
256
Bitcoin Trading For Beginners: Trade Bitcoin Like a Profi

Sometimes you can find those investors who rely on their indicators more than they rely on price. This way is wrong as only the price matters when you trade cryptos especially when you work with hourly charts.

Plan your next steps in advance

Intraday trader has to plan his steps in advance as he needs to take decisions in a very fast manner. Naturally, day trading is much harder than any other strategy as it requires more skills and full control over emotions.

Those who stick to the past, have fewer chances to win. Planning the next step in advance means you need to have a strategy that will allow you to find entry points when you finish your last trade.

KISS (Keep it stupid simple)

This is one the most popular rules among professional traders. Many beginners think that successful traders use some kind of Holy Grail strategies that are very difficult and are built on several trading tools. However, the truth is that the most profitable strategies are the simplest ones, especially for intraday crypto traders.

Successful traders use KISS method as they have lots of things to do while trading and they need to significantly simplify their systems in order to make decisions right in time and not several minutes after the signal comes.

Final words

Intraday cryptocurrency trading is not as easy as it may seem at first glance. Many beginner traders try it but they lose as they are not prepared for this rhythm of trading.

💼 Related Article
Ethereum Trading Guide for Beginners
🔥 Hot
5 months 4 weeks
256
Ethereum Trading Guide for Beginners

🎓 Trading Guide
views
👓 Recommended articles
🎓 Trading Guide George Shnurenko

Tron Price Prediction - How Much Will be TRX Value in 2018\20\25?

Trading Guide
What makes Tron one of top 10 cryptocurrencies today? Let’s find whether it’s worth investing
Tron Price Prediction - How Much Will be TRX Value in 2018\20\25?

The market of cryptocurrency has exploded in 2017 when all major cryptocurrencies gained 1,000 percent and more in price. The world is continuing going digital, and thousands of altcoins pop up here and there. One of the top 15 global currencies is Tron (TRX), and it is slowly gaining authority in the crypto community. What makes this cryptocurrency special, and what is Tron cryptocurrency prediction for the following years? If you’ve been in the dark about this currency, it’s time to get essential information.

What is Tron (TRX)?

Tron is the creation of 26-years-old Justin Sun, a Chinese student who previously worked for Ripple (RPX). This currency was designed to change the way major websites and platforms publish and use the content. Besides, it facilitates sharing of content in the Net eliminating the need of major content providers, such as YouTube or Facebook. Therefore, Tron would be useful for artists, musicians, creatives, and people alike.

To get a better understanding of Tron advantages, read these fast facts:

  • Tron is one of the most profitable crypto coins

  • It’s the 10th largest coin on the market

  • It enjoys a high trade volume

  • It is trusted by a lot of crypto community investors

  • it’s based on Ethereum and soon will become an independent Blockchain.

Tron is based on a different Blockchain than Bitcoin. Let’s highlight their key differences:

Bitcoin

Tron

Uses proof-of-work consensus mechanism

Uses proof-of-stake consensus mechanism

Processes seven transactions per seconds

Processes 1,500 transactions per seconds

Block production time– 10 minutes

Block production time– 15 seconds

Time of confirmation– six blocks

Time of confirmation– one block

Uses Elliptic Curve Algorithm for wallets

Uses Lamport Algorithm for wallets

Wallet trading platform - PC

Wallet trading platform - mobile

Tron in numbers

In 2017, TRX Tron price prediction wasn’t simply justified– no one suspected the coin to perform so well. The results were very progressive. So, what do we have now?

In January 2018, Tron was worth $0.049, and the market cap was estimated at $3,221,003,949. It was also valued at $0.25 with an unimaginable market cap of $16,752,047,709. This is a huge growth that can be compared with rising of Bitcoin and Ripple. Today (July 2nd, 2018), one TRX is worth $0.037, which isn’t as much as the community has expected, but some changes are coming– we’ll mention it later.

Let’s find out what is Tron price prediction for the following years.

Tron price prediction 2018

The first Tron prediction 2018 was not justified. This is what the predictions looked like:

Tron price prediction 2018

Let’s remember– the current price of TRX is $0.037, although it was supposed to have risen to $0.23-$0.4 already. According to investingpr.com, it will rise to $1 within only five years – that seems to be a realistic Tron price prediction. Note that the circulating amount of TRX coins is already 65,748,192,475, and it will only increase– that’s the factor that keeps Tron from growing. But while more and more developers start implementing the platform, it becomes more appreciated.

According to Tron coin price prediction 2018 from WalletInvestor, the currency is going to reach $0.1 within a year. Let’s face the truth: 2018 isn’t the most favorable year for this coin, and the fact that it has emerged from Ethereum is what makes it controversial. However, 2018 is a good period for making long-term investments. If you’re ready to wait for a few years– this is your chance. While Tron 2018 prediction isn’t as bright as we expect, this blockchain is only at the beginning of its way to success.

Theoretically, in 2019, the current Tron prediction can become true: as it gets more investors from major payment platforms and provider such as PayPal, it can gain in value considerably. The ending of 2019 may be great, as well, with TRX reaching around $1.5 per coin.

Tron price prediction 2020

Generally, Tron coin prediction 2020 is optimistic. Due to its technological supremacy, it can hit the Litecoin and take its place. It may also be conditioned by the fact that it may get more investors from big companies. Many investors are already interested in TRX right now seeing that it’s more cost-efficient than its competitors. Therefore, the most adequate Tron prediction 2020 would be some $2 and more, though some resources give more positive forecasts.

Optimistic TRX price prediction 2020

Long-term Tron TRX price prediction

What will happen within the next seven years? No one can answer this question for sure. According to the most realistic forecasts, TRX can climb to some $0.4 - $1.7, though Facebook claims it can grow to $31. It’s not likely that Tron can surpass Bitcoin– all in all, it’s based on a different Blockchain and serves for different purposes. Therefore, TRX is appealing only to some certain circle of investors.

What Tron coin prediction depends on?

As we’ve already mentioned, Tron coin price prediction is defined by several factors, including:

  1. Overall token supply. It’s already 65 bln, and this number is expected to grow (by 2050, all 100 bln coins will be issued). Such a huge number of coins devalues them.

  2. Implementation of Tron. Tron TRX prediction directly depends on the level of its implementation. As soon as large companies start implementing this cryptocurrency, it will become way more valuable. At the moment, it’s widely present on the cryptocurrency market but is not widely used by startups involved in creative content publishing.

  3. Tron becoming an independent platform. Right now, Ethereum casts a huge shade on Tron authority. As soon as creators reach the new level of development and make TRX independent, we can witness its popularization.

Bottom Line

According to realistic price prediction, Tron won’t hit the benchmark of $1 soon– it needs time for evolvement and development. This is a nice investment opportunity for those who are ready to wait. So if you have nothing to lose now, and you have enough patience, it’s time to buy a few thousand TRX right now.

🎓 Trading Guide
views
👓 Recommended articles
Cryptotips Alex Morris

Cryptocurrency Margin Trading - Explanation for Beginners

💡 Cryptotips
The article runs about all the peculiarities of margin trading which may be useful for inexperienced traders
Cryptocurrency Margin Trading - Explanation for Beginners

What is Margin Trading? 


Margin trading, to put it simply, is the practice of taking loans from a broker in order to buy more than you can afford. Before looking into the peculiarities of cryptocurrency margin trading, let us consider one simple example. A person, who wants to buy a $200,000 apartment with only $20,000 on hands, will have to go to a bank and apply for a loan (a leverage). After performing the customer due diligence, the bank may approve his mortgage and give money for investment. If the price of apartment goes up, this individual will significantly profit off his small initial investment. 
 

Bitcoin Margin Trading 


Bitcoin margin trading is, in fact, very similar to getting a mortgage, but here you deal with crypto instead of real estate. You open a position with leverage and pump up your buying power by taking loan from a broker on one of the cryptocurrency exchanges that allows margin trading.
 

NB! The money lent to a trader come from an operating account, so customer funds are not used by a broker. However, some exchanges allow borrowing directly from other users. 

Then you can invest your leveraged funds in any available cryptocurrency that, as you believe, has the potential to significantly increase its value. For example, you can buy 100$ worth of Bitcoin Cash (BCH) with only 20$ of your own money (if the leverage ratio is 1:5). If the price of BTC remains the same, you break even, but any BCH price spike will result in profit (that would be significantly lower if you weren’t trading with leverage).       
 

Leverage Ratio 


The sum of money that an investor is able to borrow from the exchange is determined by the leverage. Leverage amount is presented as ratio (1:2, 1:3 and son on). Traditional traders are conducted with 1:1 leverage.    

Compared to Forex trading, cryptocurrency exchanges have a rather low amount of leverage due to the fact that this market is still highly volatile. Cryptocurrency traders will not find any brokers that are willing to lend out funds on a mammoth scale with 1:500 leverage or higher.    
 

Margin Trading Risks 


Before engaging in margin trading with cryptocurrencies, you have to remember that it comes with significant interest rates and fees. Inexperienced investors may be tempered to take advantage of market volatility and gain huge profits, but there is always a huge risk if you choose to trade with leverage.

  1. Equity threshold. In order to engage in margin trading with Bitcoin, your equity level has to be above a specific threshold (for the majority of exchanges it is about 30 percent). If your account’s equity falls below this threshold, you won’t be allow to open a position unless you make an additional deposit.
  2. High interest rates. Crypto exchanges profit from Bitcoin margin trading (US) by setting interest rates which are quite high (especially, for long-term investments). Consequently, if the predicted price jump doesn’t happen anytime soon, it is better to close a position, since the constantly increasing interest rate may soon diminish your profit. Therefore, trading with leverage is a good option if you want to take advantage of an ongoing bullish trends, but it is a no-go zone for beginners who want to capitalize on long-term investments.  
  3. Huge losses. As mentioned above, the instability and sensitivity of crypto market won’t let broker implement a higher amount of leverage. Even opening a position with, say, 1:5 leverage may lead to huge profits if stars align. However, you may lose everything as well. Apart of sending a  'goodbye kiss' to your initial investments, an investor may find himself in a situation when he will have to give back the borrowed money and pay back the interest rate.


As you can see, before diving into the wilds of Bitcoin margin trading (USA), you have to minimize your risks to almost non-existent. It can be a powerful tool for cryptocurrency investors, but make sure that you won’t sink below a break-even point, and you initial investment will cover trading fees and the interest rate.
 

Forced Liquidation 

  
Once we’ve covered the risks, it is also to introduce the notion of forced liquidation. Forced liquidation presupposed that all you margin positions get closed to make sure that you won’t default on your borrowed funds. It is vital to regularly check your positions and reduce their size to prevent substantial losses and consequent forced liquidation.       
 

Best Margin Trading Exchange  


A large number of cryptocurrency exchanges (Bitfinex, Kraken and so on) offer their users a possibility of trading with leverage. No matter what exchange you choose, the process of opening a margin position generally remains the same. However, there may be significant differences when it comes to fees, the initial equity and the amount of leverage and available assets, so it’s completely up to you to choose the best margin trading cryptocurrency exchange. 

To show you how margin trading works, let’s have a look at a Hong Kong-based exchange Bitfinex that allows opening positions with up to 1:3.33 leverage. The short guide, which presented below, will show you how to use this Bitcoin exchange for margin trading with both long and short positions.     

  1. After creating an account and depositing funds, you have to choose the ‘Trading’ section and select a desired trading pair. 

    image
     
  2. Then go to the ‘Margin’ section and place an order specifying the amount of your investment, leverage ratio and order type. 

    image
     
  3. Click the ‘Margin Sell’ button in order to finish your order and open a position. 

    image
     
  4. Your position can be closed at any time by using the corresponding button. Borrowed money will be automatically repaid to your broker while gains/losses will be credited to your margin wallet.  

Here’s a table which lists popular exchanges with margin trading along with the maximum amount of leverage that they can offer. 
 

Crypto Exchange 

Maximum Leverage  

BitMEX

1:100 (BTC)  

1:50 (ETH)

1:20 (XRP)   

Bitfinex

1:3,33

Huobi

1:5

Poloniex

1:2,5

 

1:5 (BTC and ETH)

Cryptotips
views
👓 Recommended articles