The first thing you need to get started trading bitcoin is to open a bitcoin wallet. Bitcoin traders are actively seeking the best possible solutions for trading and investing in bitcoin.
These bitcoin strategies can also be used for trading bitcoin cash as well as other cryptocurrencies. In fact, you can use this as a trade guide for any type of trading instrument.
The method to employ are simple. Diversify your trades. ...
Minimize trading costs. ...Watch Trading times. ... Make sure to follow Bitcoin News. ... The use of technical analysis is essential. ... Finally, use stop losses.
Well, if it would be that easy, we'd all be millionaires. Trading is a serious business and if you don't treat it as such, the market will crash you. Becoming a profitable trader takes time and requires hard work at ones own personality and psychology.
If one is serious about trading, get a solid strategy for a timeframe that fits your personality and time budget. Write a trade plan and paper trade that plan for at least 3 months with a reasonable risk per trade. If you are not profitable, don't go live, stick to paper trading unless your are profitable. Periodically review your trades and check for errors you have made and how you can prevent them. And: keep a solid trade journal where you write down your trades, feelings and thoughts along with the trades!
Yeah, I know, paper trading sucks. But if your psychology and motivation does not keep you trading boring paper, you don't manage to trade live.