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Bitcoin has been quite the past couple of days. While that was happening, the alts decided to have a party. Coins were breaking resistance levels like it was their job. I am sure you made tons of cash off of those alts that you have been holding for the past few months. The big issue is that people get greedy. They start chasing after these alts after they have already made a significant run. People start to forget about Bitcoin.
I have found the most success when I use past events to help predict future outcomes. Although it is not perfect, it allows me to make decisions before everybody else does. Making decisions early is what separates the good traders from the bad traders. Have you ever heard of a guy making 700% on a coin? Well, he did not jump on the wagon. He was driving it.
In order to make these decisions, I like to look at market structures and patterns that have occurred over the past few weeks. We have seen three bullish falling wedges in the past few weeks. Analyzing these patterns was important to help determine if the current pattern is the same. Based on the analysis, we could be seeing Bitcoin make a run within the next 24 to 48 hours.
Protecting your gains is very important when trading. Take the information that I give in the video and make decisions based on it. I suggest capturing your gains for any short term trades. Long term trades are going to be fine to hold. Be smart and do not make any emotional decisions!
Magnr is a handy cross-platform trading site connected to a few big Bitcoin exchanges. Accounts never require any personal data or identitiy proof. So signup is quick and possible with anonymous data.
Leverage is available at Kraken up to 5x for several cryptocurrency pairs, including bitcoin. The fees are depending on the volume of the margin account.
Bitcoin can be traded on GDAX up to 5x leverage. The margin trading option must be manually turned on the account in order to make sure the users understands and reads the associated risks.
Margin trading is basically borrowing funds to purchase an asset, this allows you to buy more bitcoins that you would normally be able to do normally in the hope of making bigger profits on the price movements.
Advantages of Margin Trading.
The biggest benefit of margin trading is that you can take advantage of the additional funds when the market moves in the direction you expected. The overall profit of the positions once the bitcoins are soled and the loan is repaid is significantly higher compared to an ordinary trade execution.
Disadvantages of Margin Trading.
The disadvantage of margin trading is by nature the amount of risk a margin account can hold. The higher amount of leverage you take the bigger amount of money you can loose in case the market moves in an unfavorable way. Due to the margin call, the margin account must be funded countinuesly that involves significant amount of liquidity. It is only advisable to trade on marking if you have enough experience already on the market. To mitigate the associated risk, many trading platforms only offers limited amount of leverage trading opportunites.