Do you know what a bitcoin is?
HOW TO TRADE BY BITCHOIN ON FOREX?
There is a wide range of opportunities to earn on bitcoins trading in the forex market, but any of them need the availability of initial capital and corresponding investments. Of course, there is always the possibility of mining, which does not need capital, but it will not bring profit practically. If you consider serious earnings, then there are a number of options:
Opening an account in Bitcoins. There are a number of brokers that allow you to open such accounts, and at the same time trade in conventional currencies, for example, pairs such as the euro / US dollar. With the growth rate of bitcoin to the dollar, then in addition to the income from the actual speculation, the profit will be obtained when selling bitcoins.
Trade in crypto currency. Get income from the exchange rate of Bitcoin itself! To achieve this, you will have to choose in the symbols "bitcoin" or a pair of bitcoins / US dollars (BTC / USD). The Bitcoin schedule can be monitored both in trading terminals and on independent specialized sites.
WHAT IS THE PECULIARITY OF BTC / USD PASSAGE TRADING:
The direction of the global trend is up. When concluding deals with this pair, it is necessary to remember that the global trend is bottom-up, and this information should be taken into account in the case of long-term trading.
24-hour daily trading. The difference between trade in bitcoins and currency trading is that there are no breaks in it.
Technical analysis. On the charts of the bitcoin / dollar pair, it is possible to use standard indicators, such as moving averages, oscillators, horizontal levels and a number of others.
Sensitivity bitcoin to the news. Crypto currency is heavily influenced by news, but this is not news that affects ordinary currency pairs, and news related directly to Bitcoin. For example, in the case of investing in bitcoin a significant amount of money, their rate will grow. In addition, news affects the currency for a longer period of time.
Lack of trading sessions. The activity of the bitcoin / dollar pair goes around the clock and does not depend on trading sessions.
The possibility of formation of GAPs. At the time of the news release and with a lack of liquidity, there is the possibility of generating gaps on the charts.
Non-working scalping. In connection with the high spread, one should not trade on minute timeframes. The best option here is H1 or D1