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Trading NEO has been one of the most profitable strategies for traders. Over the past few months, NEO has gone from a coin worth $5 to a coin worth $60 and then back down to $13. Many traders have had full belief in the coin throughout that entire process. In this video, I explain what you should be doing to trade NEO before the Red Pulse ICO.
The Red Pulse ICO is going to cause NEO volatility over the next week. Some people are going to be selling because they are unsure as to what is going to happen. Some people are going to buy based on the hype of the ICO. My job is to show you the buy points so that you do not lose money by buying too late or selling too early.
The video explains that NEO has some potential to drop near $28 before the ICO on October 8th. $28 is the immediate support but it is strong. Many people are going to sell off NEO before the ICO and it could cause the price to hit that level. After that, I see NEO bouncing because of the ICO. Many people are going to be buying NEO merely based on hype and that is going to inflate the coin. Finally, NEO is most likely going to fall soon after the ICO because traders are going to be selling off to capture their profits.
Timmy, red pulse is looking to raise $15,000,000 which equates to around 425,000 Neo at it's present price. So the supply goes will go down. Combine that with positive sentiment generated by Neo's first ICO, the price will go up. Of course the speculators will be trying to read the market and buy and sell accordingly but Neo has shown it can muster considerable daily volume and when there is a sharp increase in volume on the back of positive new the price goes up. In short Da Hongfei and the Neo counsel will make sure that Red Pulse is a success which means a price increase. I expect it to go to new highs of around $60 pulling back to the mid $40 range. I think any price below $35 is a fair entry, unless of course you are day trading. Easier to make money doing it my way, I would say :)
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.