Post
Topic
Board Trading Discussion
Re: Is This How You Short A Crypto Coin?
by
Oshosondy
on 24/07/2023, 06:14:05 UTC
1. I joined Learn2Trade, where they provide 5 suggestions per day, on whether to BUY or SELL.
2. I understand how to BUY and wait for the price to go up.
But I don't understand how you make money on SELL.

For example, let's say I believe BTC will go down. So I BUY BTC. And then I wait for it to go down and then SELL.
Don't I lose money?
First, I will say you should be careful about signal groups, they can be as inaccurate as humans too. The best that you can do is to learn how to trade even if you will use crypto signals. Know what they you are doing.

Another thing is that you should be avoid paid signals, they are scam.

You have only been buying bitcoin using the spot market and sell to buy a stable coin like USDT or USDC or fiat. If you want to be able to learn how to use sell/short to gain, you will learn about future trading.

Future trading are derivative trading and very different from spot trading. It majes use of different market and you will be able to leverage which makes it riskier unless you are very determined not to go more than 1x to make it be like spot market. If you use it go altcoins, going short can still lead to liquidation as you know altcoins are very volatile and they can increase 2x very fast.

Go to exchange like Bybit or Binance after you read about future trading. The exchange have trading guide for future trading too. I have forgotten of Bybit, but I know Binance also has videos that you can watch about it.