Rules for successful Bitcoin trading
It is necessary to identify a list of the most important rules for trading in the current online currency market, allowing novice traders to stay in profit. Due to the constantly growing popularity of bitcoin, despite the existence of certain decisions of the Central Bank, a lot of people have a desire to make money trading these funds. However, the overwhelming majority of newcomers quickly lose their own money, because they do not adhere to the basic rules of implementing the workflow in currently functioning sites.
Trade should only be financed, the loss of which will not affect the financial condition
Losing money, especially which is not particularly pitiful, the user acquires some valuable experience.
Categorically, you should not invest in btc all your own savings, especially taking bank loans (you will have to give it anyway).
Working with funds that are really "last", a person is not able to be calm, confident, long-term. Accordingly, this will cause the adoption of wrong decisions leading to losses.
Acquire - in the fall, realize - on growth
In any functioning market, the crypto currency "taxis" is the manipulator. The crowd will always lose by having an independent thinking user. Therefore, it is required to acquire before the start of the growth process, while fixing a short-term or long-term decline, otherwise the chances of being trapped in manipulators are great. To sell available assets is necessary in the presence of growth, when the level of value is in the second half of the possible peak.
Do not chase after highs / lows
Managing the course is carried out by manipulators, the volumes of assets of which give the opportunity to lower / raise the value level literally in a couple of minutes of active trades by tens of percent. The maximum price drop or growth is directly dependent on the largest players, but even they are often at some points in the process are not able to predict the power of positive or panic mood of other users.
Accordingly, do not wait for the achievement of the minimum point of the fall, chasing the dream of a momentary high growth. Being a beginner, the best solution will be to fix profits on the "above-average" bar, otherwise you can not have time to implement bitcoin.
Mandatory written fixing of orders and strategies.
With an active game performed on any types of distances (excluding long-term investments), the recording of planned, realized orders for each of the directions will help to calculate the average purchase price, the formation of its own sales strategy.
Low volume trading at short distances is not an option for trading
The presence of scanty volumes is evidence of the lack of real user-players. Shorts (players who prefer short distances) are waiting for the optimal moment, watching from the side. When further actions are not clear and even a relatively small purchase is likely to be the direct reason for adjusting the course, the best solution is not to participate in such operations.
You should not listen, it's groundless to believe in a stock exchange chat
The vast majority of forecasts published in the exchange chat are formed on the basis of individual expectations, or, worse still, of technical analysis that simply does not work under these conditions. Specialized analytics from well-known world markets with multibillion-dollar turnovers, a variety of forex strategies with crypto-currencies do not work, because only one manipulator having $ 25 million "in his pocket" is available at a certain moment to collapse or raise the current rate by 50% in only half an hour.