Learn how to trade Bitcoin
- The meaning of Bitcoin :A cryptocurrency and a system of payment invented by a programmer or a group of programmers by the name Satoshi Nakamoto is
popularly called Bitcoin.It is a digital currency.
- The meaning of Blockchain: It is a public distributed ledger to record Bitcoin transactions. Bitcoin is a unit of account for the Blockchain.
- The meaning of Mining :Mining is a process in which users provide their computing power for recording and verifying the transactions of Bitcoin in the Blockchain.
- Bitcoin and transaction fees are prizes in the competition of such miners. You can barter Bitcoins with other products and services and currencies of different countriesThe meaning of Block:Complex algorithms which require specialized computing powers are known as Blocks.
- Bitcoin is used by criminals and has drawn the attention of the government, financial regulators, media and legislative bodies.
- BTC and XBT are symbols of Bitcoin. Milibitcoin (mBTC) and Microbitcoin (µBTC) are smaller alternative units used in Bitcoin system.
- Bitcoin valuation is by the quality of work done on your computer. Mt. Gox, BitInstant, Bitstamp are few of many Bitcoin Exchange, where a trader can barter any physical product or service against the digital currency of Bitcoin.
- Bitcoin Exchanges are mediators who change Bitcoin wealth into physical currencies of different countries like US Dollars of USA.
- A trader can sell Bitcoin very easily like any other product or service. Approximately 50 Bitcoins a trader can earn for decrypting one block.
- Intelligent traders make money by the constant relative shift in the value of Bitcoin and physical currencies, and the process of making money through Bitcoin movements is called Arbitrage. The process of Arbitrage is equally risky too.
Following are the different methods of Bitcoin Trading :
Mining Bitcoin: A trader will have to arrange an exclusive computer that only decrypts the blocks of Bitcoins. For that, he has to install mining software. Decrypting a single block takes more than a year time, which is not worthy enough your effort.You will have to purchase mining rigs which will cost you around $2400 128 GHs Bitcoin Miner from Advance Mining Technology to earn coins faster. A trader can also develop his mining rig, but purchasing mining cards for the same s equally expensive.
Join a Mining Pool :
- Knots between computers connected through the internet is untieing the block work into chunks which are existing in the group.After the work of block decryption, the Bitcoin is allocated according to the contribution of the trader’s rig separately.
- Mining pools are organized differently in different cases. The basic model of mining pools has many variations.Security level is a significant point when choosing among different mining pools.
- Some pools ask no information other than BTC username, whereas some mining pools ask for two-step Google verification code for payout.None of your personal information is required, but, dealing finance with totally strange people is dangerous.
Steps to Deal directly in the Markets :
- Create a username to sign up for a Bitcoin Exchange
- Respond to verify your address through an e-mail confirmation.
- You will have to scan and send, your government photo Id with real address and residence proof of last six months, to a computerized system.
- There is no requirement of trader’s SSN.
- Finally, you need to deposit money in your account and watch changing market rates grab the opportunity of earning returns.
- The trader has to pay a transaction fee to Bitcoin Exchange for his each transaction.
Bitcoin Trading is very risky so be prepared even for losing your money, especially for day-traders.Bitcoin value falls and rises strikingly. If you trade at the right time, you get rich, but if you lose an opportunity, you tend to make huge lose in a single trade.The Bitcoin Market stabilizes when the investors hold their digital currency.
Bitcoin is bound to taxation.Bitcoin is an asset regarding Taxation. It is similar to Forex, and hence you should not put all your eggs in one basket. You should consider BTC Wallet as a cash wallet itself.
Categories of Bitcoin gambling :
- Bitcoin ESports
- Bitcoin Casinos
- Bitcoin Poker
- Bitcoin Dice
- Bitcoin Lottery
- Bitcoin Betting
- Bitcoin Options
- Bitcoin Bingo
- Bitcoin Investment
- Prediction Market
- Fantasy Sports
- Sports Betting
- BITCOIN FOREX
Bitcoin forex sites with their software providers :
|Site Name||Software Provider|
|1xBit||Pornhub Casino, GameART, Microgaming|
|Fortune Jack||Endorphina, Igrosoft, SoftSwiss|
Bitcoin trading benefits to those who want to EARN MONEY and have fun gambling at the same time.
A trader has no control over the chances of winning. Bitcoin is playing with dices and slots which are a source of entertainment for people with a huge sum of money.
Forex A Book and B Book
The meaning of ‘A Book’ :
- When a Multilateral Trading Facility or a Liquid Provider goes through trading of a client, it is called A Booking.It is also known as ‘No Dealing Desk.'In A-Booking the brokerage firm marks up the spreads or charge commission to their clients to turn on profits.
- The brokerage firm will earn a profit without concerning whether the client is gaining or not.Authentic Straight through Processing (STP)/Electronic Communication Network (ECN) brokers
- use A Book because they commit to disclose trades of their clients with match-up traders or liquidity provider with the intention to look for rivalry positions.Brokers who provide their trades to liquidity provider have a benefit of getting a ‘clean’ reputation.
- But, they fail in the case of maintaining accuracy and show poor trade performance. Examples of A-Book :FXTM, Avatrade, XM.com
The meaning of ‘B Book’ :
- When a brokerage firm decides to maintain the client’s trade by itself, it is called B Booking. It is also known as ‘Dealing Desk.
- Overall profit of the firm is equal to that of total losses of the trades recorded in B Book.Brokerage firms that manage B Book follow risk management tactics like spread variation, internal hedging, tracking overall exposure, use correct lot sizes, limiting leverage usage, etc.Managing B Book is beneficial in cases where the Forex traders are losing their finance. Traders are concerned about the brokerage's firm managing B Book as they can show dishonesty to earn profits for themselves.
- B Book is useful for clients who invest huge finance, for clients who invest a big share of their total capital in one trade and for traders with small accounts.To be safe brokerages now manage both A-Book and B Book.This mixed model is used by many brokerages as it is very much beneficial.
An example of B Book :IG Markets have largest B Book records.
Which one of the two is better ‘A Book’ or ‘B Book’?
Security of funds is the most important thing to decide between A Book and B Book.B Book is preferable over A Book when slippage is not compulsory. A Book is useful when clients search for a reputed brokerage.Brokerage firms categorize their traders into A Book and B Book clients by different factors like amount of money they deposit in their account initially,
the risk that they are ready to bear, etc.Brokers managing A Book earn money in the form of commissions by trades that they are transferring to the liquidity provider. So, traders of A Book have to keep on trading for their brokers to earn commissions.
No loss forex trading strategy
- In reality, there is no such strategy of No Loss in Forex Trading market. No Loss is just a myth. If any trader would ever have any such strategy of incurring no losses, then also he would never share.The significant matter is that you need to concentrate on searching for strategies that will help you earn higher profits as compared to your losses.
- In forex trading losses are inescapable. But, earning profits depends completely on your market knowledge, personal skills, investment plans, and strategies.Professional traders use tools like signals and oscillators. They are helpful for earning profits, but there is no such guarantee of always winning.
- You may incur losses also.But, that does not mean that you should quit. To develop a good trading strategy for yourself, you need to take care that it grants you to construct entry and exit signals at particular positions.
- A successful trading strategy also has to take a risk and go through risk management process. If you don’t want to risk your money, you should completely avoid trading in Forex Market, because Forex trading is all about taking risks.Demo accounts are very much helpful for a newbie. While using Demo account, you will not suffer actual losses.
- It is a perfect mode of learning and managing to take risks without risking your finance.To be a successful trader in Forex Market, you have to be very patient and disciplined in making decisions.
‘No stop loss’ forex trading strategy
A Forex trader places an order of stop-loss, wherein a security stays as it is unless its price reaches a specific level. The investor will not incur losses on a specific position.
- Setting a stop-loss is free.
- Stop-loss order stops you from making emotional decisions and keeps your securities on hold.
- The Commission is only payable when you want to sell at the stop-loss price.
- Stop-loss strategies are beneficial for beginners.
- Stop-loss prevents losing your earned profits along with saving you from incurring losses.
- Stop-loss strategies do not earn you profits always.
- Your indiscipline will be harmful to you despite using a stop-loss strategy.
- Market makers take advantage of stop-loss by holding the price at a low rate for traders to accumulate and tey want security to sell,
- after that the prices will raise double the speed.
- Giving you sell order right to a computerized system is very risky and prove non-beneficial.
- The stop-loss strategy is many times a failure for day traders.
Is it possible to trade profitably, without using stop loss strategy?
- Yes, it is very much possible to trade in Forex without using a stop-loss strategy.A Constructive Finance Management Plan is a must, for those traders who do not want to follow a stop loss strategy.
- If you are forex traders, wanting to use no stop-loss strategy, then remember that you should not deal with equity traders.A forex trader has to consider the hidden economic and fiscal factors of the market along with considering the change in the price of the currencies.
- A nation’s geopolitical situations and economic principles are two important factors for long-term investment in a currency pair. A nation’s government’s political attitude, its Central Bank’s policies and some balance of payments are the economic aspects.
- For trading in forex trader needs to rely on Fundamental Analysis along with Technical Analysis. Fundamental Analysis bestows a long-term stance of currency.A Profit Protection Strategy becomes useful when trading without stop loss strategy. Stops not only save you from incurring losses but also protect you from losing your profits earned.
- While trading with no Stop-Loss strategy, you need to trade in the regulation of the market trend. You have to avoid exploitation of leverage means. You have to make decisions optimistically for fundamentally stronger currencies.
If you want to manage your finance in the Forex market as a trader, without a Stop-Loss Strategy you need to learn following things :
Measure your capital at risk :It is advisable for not trading more than 2% of your risk capital in a single trade.
Do not trade too boldly :
- Even a small downfall can make you lose a big share of your risk capital.
- So don’t be in a hurry and don’t make quick decisions when prices fall.
- Wait for the right moment. Adjust your position size according to the risk of the currency pair you are trading. Higher the volatility of the currency, equally higher will be its demand.
Be practical :
- Do not have unnecessarily high expectations. You will not get rich in one make.
- Steadiness and discipline will lead you to best results. Small returns over passing the time in different deals will make you rich by the power of augmentation.
- You need to have a conservative approach while initiating a trade.
Be open to accepting your mistake :
- In Forex trading, market situations are unpredictable. A trader should not feel embarrassed for making wrong moves.
- Identifying and admitting your wrong deal will help you cover losses quickly and will help you rectify your mistake faster
- A trader should know when to end playing with the lost amount. If not he will lose his earned money also.
Situations may go against your expectations :
- A trader must go through past records of the currency pair; he is planning to invest.
- Situations may be different from the past, but it warns traders by showing the possibilities of downfall in certain conditions.
- Price shocks are very common in Forex market. So a trader has to prepare oneself mentally and not get disturbed when suddenly experiences downfall of currency pair prices.
- Be prepared for the situations to get worse. Make a strategy for such an emergency.
Try to predict the exit before entering :
- As a trader, you must build a limit at both the entry and exit positions.
- At what limit of a downfall you should hold and at what limit of a raise, you should withstand.
- A trader should compare the rewards he will get against the risk he is taking.
Do not trade when already suffering losses :
- You get temptation of covering your lost amount of money of one trade by gambling in next trade itself. It is a wrong decision.
- It is not advisable to risk your capital more when you are already suffering losses in a particular trade.
- You need to minimize your size of trading in a streak of losing or rather just sit back and wait for the prices to fall under your limits
- A trader should have stable emotions and control over position sizes.
Try to understand leverage ratios :
- Leverage ratios offer you much more than your invested capital.
- Leverage directs your position in Forex.
- But, this leverage also risks your potential.
Go for long-term plans :
- Don’t depend too much on trades making profits and losses currently.
- Long-term benefits will decide the success or failure of any trading system.
- Follow the rules of your trading system and don’t make unnecessary changes in the system to earn short-term gains or in fear of losing for a short time.
Hence, the trader can earn profits and get success in long-term trading, even by not following ‘No Stop-loss Strategy.'Carmel Limo Service. Visit our Web Site to Download our App, place a reservation, get pricing and check vehicle availability
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