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I often talk about trading perspective. It is something that very few traders have (and that is why very few traders are good).
Trading perspective is all about understanding the big picture so that you aren’t trying to catch a falling knife.
Let me explain…
Most traders stick to their hourly charts and place their trades strictly based on it. You can be successful doing this but why should we aim to be “pretty successful”?
The issue with doing this is the lack of perspective. When you just look at an hourly chart, you might see positivity. With that in mind, that positivity could simply be a bounce in an overall negative trend!
So I started doing something unique and it has been a game changer. I mean, it literally increased my win rate by 20%.
The video above breaks down the strategy step-by-step. Although it might add a bit more time to your daily routine, it will be time well spent because it will be making you money.
Hey man great video, really helpful. Would you have any advice for growing small accounts, like should I only trade the smaller priced coins to start with? My blockfolio currently stands at $587.17 should I invest a little more to $1,000 or is this enough. Keep up the good work really appreciate it man.
CryptoCoin Mastery would I have any problems with a small account some people say that you end up with dust from left over coins and is it a simple case of buying less of a coin when trading or is it more complex than that with a small account?
Enough is completely relative to your goals and risk tolerance. You could trade that amount to great levels but it will take discipline and time. Don't invest more unless you are completely comfortable doing so.
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.