advanced trading tips

Solution #4. Develop a trading strategy

when you choose to trade bitcoin on the exchange of your choice. you will need a choice of deals in term of investment. whether long, medium or short term. you should think about that beforehand.

Strategy is something to think about. But whichever cryptocurrency trading strategy you choose, each one will be deprived of rational and informed decisions and discipline.

The highly volatile cryptocurrency market often changes the "mood". He needs to be watched. trading in general will require some effort from you. You may want to choose a different strategy to make more money and adjust to the current market when it shows a strong bearish trend and trades in a narrow range. If you are not careful, then without trading experience there is a big risk of getting a loss.

Solution #5. Use the exchange instrument

It's a good idea to ask yourself how to trade bitcoins before you start trading.

All transactions on exchanges, such as bitcoin trading, are made on an order basis. Orders are buy/sell orders. There are different orders. The most common are market, limit and stop loss.

Some exchanges charge a lower commission for using limit orders than for market orders. There are also platforms with free limit orders. If your chosen crypto exchange rewards use a certain order type, try to use it.

Solution #6. Check the risks

We have written more than once about what risks exist and how they can be avoided. Let's briefly repeat:

Be careful and watch out for scams, ignore sites that promise quick and easy money as long as you give them X, Y and Z.

Don't download random wallets and don't follow random links so as not to install malware on your gadget. Beware of spoofing. Double check the site you are using is correct. Some scam sites may use similar domains for phishing scams. Always check for things like this.

Select the exchange set up. The cryptocurrency market and bitcoin trading is like the Wild West, which has no sheriff. in statistics, the victims of hackers are mostly unregulated platforms.