Cryptocurrency trading platform: Overbit and its features.
Cryptocurrency trading platform is the first choice of a trader. Hello, dear traders, today we are going to present to you the price action trading course. In this course, we start from the basics and we will build slowly the chart until the moment of the entry. You will learn some more advanced techniques about counter trend lines, about Fibonacci, and especially in this course, I will show you a unique way using the Fibonacci which will give you great retracement zones and places to take your profit.
And you will learn how to follow a strict system. This is very important in order to avoid emotions in trading. Now, in this course, I have selected to use Overbit platform. I’m not connected to the platform in any way so don’t take it as a recommendation.
You can use this trading system on any other trading platform, where you have the Bitcoin, the cryptocurrencies, you can use it with CFD brokers, or anywhere on the exchanges. It’s up to you where you want to trade. Of course, for the course, I need to select 1 platform or a broker as with my other courses.
But I’m not connected to any of those so, don’t take it as a recommendation. I will just introduce you to the Overbit platform during this first lecture, because I will be using it along the course. For me, it is very easy to use.
I will demonstrate how trades were opened and closed on this cryptocurrency trading platform.
I think it is very suitable for beginner traders, it’s really not complicated. It has the leverage, which is something that gets harder nowadays to trade with leverage, especially the Bitcoin and the other cryptocurrencies. And it is very easy to use because we have a simple chart with many drawing tools and indicators.
So it is simple to use at the same time and at the same time we have everything that we need. So now if you look at thepicture below, you will see that we have the chart on the left side and the middle.
Then we have the Market from where we are actually able to buy and sell the asset.
On the right side, we have the Crypto assets that are available for trading, the Forex and the Metals.
And below you have the Positions as well. So for the moment, I have 1 trade opened over here.
And then in Closed Positions, you can see some closed trades, which actually I will demonstrate during the course and you will see how these trades were opened and closed.
And as well, we have Active Orders and Order History. So the platform is really simple to use, you can choose the asset you want to trade.
You can trade with your Bitcoins instead of having to wait for the price to go up.
So, for example, you can trade Ethereum versus the Bitcoin, then you have the Ripple. And what’s interesting here is that we have as well the Forex currencies. So, for example, you can trade the USDJPY.
Now, the special thing about the Overbit platform is actually that you fund the account with Bitcoins and you are trading with Bitcoins. And as well, if you want to withdraw, you withdraw Bitcoin. So this platform is really suitable for the people who actually own Bitcoins and they want to trade with them.
So instead of just keeping them and waiting for the price to go up, you can trade with these Bitcoins while they are in your account. And on the left side, we have the drawing tools, a lot of drawing tools.
You can have any lines which we will use like counter trend lines, trend lines, whatever you want to draw.
Then we have the Pitchfork, the different Gann tools, the Fibonaccies, and many more.
You have as well, any type of shapes that you might want to place on your trading screen and much more below which I’m not going to talk about in details.
But in our trading system, for the price action trading, we will need just the lines, Fibonacci, which I will show you how to use in a different way, and really there’s nothing more special.
I will show you different parameters from the default.
The indicators can be added from the top. For example, in the course, we will be using the Envelope.
But the display is really huge. In the course, I will show you different parameters from what comes by default.
And as well, you will learn how to change the different parameters of the indicators on the platform. Above the platform, we have as well different timeframes. So at the current moment, we have 1 minute, M15 chart, the hourly chart, the H4 chart, and the daily chart.
So you can see what moves the Bitcoin, it recently moved really aggressively higher. And I will show you exactly how to get on the train as they say, or where exactly you can join the market.
And this is very important by the way because many people just buy when they hear some asset is going up, or when they hear that the Bitcoin is going up. So they just enter for no reason. And for me, one of the most important things is to learn to take the profit, which many people miss to do, and they are very greedy to wait for more profit.
You can increase your leverage on this cryptocurrency trading platform.
And you should know that there’s never one way to get on the market. The price just reverses at one moment, so I’ll teach you how to do that with different indicators. And this is it about the platform.
This is the chart, you can play around with it. I will show you step by step on how to draw all the analysis that we need for the system. And I will show you how to save different templates from the chart, so you don’t lose your work.
On the right side of the cryptocurrency trading platform, we are able to buy and sell the assets from here, and we have the leverage.
So you can increase your leverage for the people that are really beginners. This means that with leverage, we can buy more from what we have into the account.
So, if you are using, for example, leverage of 50, it means that you can buy 50 times more from what you have in the account. But of course, we never buy with all the capital that we have in the account because this is very risky. And especially when you trade with leverage, you should be trading with a small percentage from your account.
With open position, you have Estimated Liquidation Price.
So I will never suggest you trade more than 2 to 5% from your account, or, let’s say to risk more than 2 to 5% from your trading account. Then below you can select the quantity you want to trade, you have the option to add stop, add limit, and then you can execute the order.
And something interesting here on this cryptocurrency trading platform, if you have open position, is that you have Estimated Liquidation Price.
You can read what it says here. But normally, it will show you according to what you have in the account and what you opened, where the price should reach so your trade will be closed, and this is when we are on a loss. And, of course, I will teach you how to avoid that.
And most of all, I will teach you how to take the profits quickly and not to wait too long. So these are the basics of the Overbit platform, you can play around with it. I will demonstrate the course on a Demo account.
And this is very important because normally what I do, I record my trading, all the trades that I take, all the positions I open and close. But I demonstrate them in my videos over Demo accounts because I really don’t want to stimulate anybody, for actual trading.
You get to decide whether to trade on a Demo or a live account.
It is your own risk, it is your own money, they are your own Bitcoins, and it’s up to you if you want to trade on a live account or not. My purpose in this course is to show you the trading system I follow. But one more time, during the videos, I will record over a Demo account so nobody takes that as a suggestion for live trading.
But the trading system that I will teach you, I have used it for quite a long time. I have done really great profits with the system. I hope you will learn it. And of course, if you have any questions along the Price action trading course, don’t hesitate to ask me. I will show you step-by-step how to build the trading chart and how to place the different indicators.
And I’m sure by the end of the course, you will know where exactly to enter the market and where to take your profit.
Thank you for reading and I wish you to enjoy the course.