Cryptocurrency trading for beginner traders
Hello everyone, today I will be talking about cryptocurrency trading and I will explain to you how it is possible to trade cryptocurrencies, not just on the exchanges, but with Robots as well. So what beginners usually do is to search cryptocurrency trading how to, or what is cryptocurrency trading, how can I start cryptocurrency trading, and so on.
And 99% of the time people end up losing money. Why is that? Because they lack information, they lack education, and they don’t know what they are doing. Cryptocurrency trading is not just a hobby. The Forex trading, the cryptocurrency trading, stocks, this is a serious thing.
You might lose your money. So having an online course on guide to cryptocurrency trading before risking your money is vital.
And I can assure you more than 95% of the people are losing their money on the market and 70% of them are blowing their accounts during the first month. Can you imagine what a crash that is for everyone’s investments?
And many think that it is hard to do cryptocurrency trading for beginners. Well it is not. You need to be prepared and you need to have an idea what you are doing.
This is why money management is very important and I recorded recently another video about it so make sure to have a look at it.
But money management is a key point not to crash your account during the first month or the first year. If you do it right, you will never ever crash your account.
Guide to Cryptocurrency trading Money management
And in my newest course about cryptocurrency trading called Cryptocurrency Investment Strategy, I show how to invest.
I called it Never Losing because of the money management that I use.
So having the right money management is so important in cryptocurrency trading, in Forex trading, in investing, in anything, and generally in life. Let’s start from there, what is the cryptocurrency trading platform that I use? Most of the time I use the Meta Trader platform.
This is a trading platform and it allows Expert Advisors, or for the beginners, these are the trading Robots. So, yes, we can trade cryptocurrencies with Robots. We cannot do this on the crypto exchanges, at least at the moment. But we can trade on Meta Trader using different brokers.
The brokers are huge companies that provide the chance to trade on the value of an asset. So it’s not like we buy cryptocurrencies and we trade with them, we trade on the value of the asset. How does this work? We fund an account with a broker, for example, you fund an account with $1,000 and you can start buying and selling cryptocurrencies.
Always have a cryptocurrency trading strategy
Now, the benefit of that is that we can actually sell without having the crypto previously. What that means is that if you fund your trading account with $1,000, you have no open trades, you can sell the Bitcoin if you see it’s going down.
You always need to have a strategy while you’re doing cryptocurrency trading. And you can sell the Bitcoin if you want. For example, you sell it at $9,500 and the price drops to $9,000, you can close the trade and you will benefit the difference. You will benefit the $500.
So we can sell something without having it previously because we trade on the value of the asset or in other words, this is called CFD trading – Contract For Difference.
Every trade you open on the broker’s platform when you are doing cryptocurrency trading is a contract with the broker that they will execute your trade, close the trade whenever you ask them to do it, and they will pay you this difference.
Crypto Trading with the Expert Advisors
Of course, if you are wrong and the price goes against you and you close the trade, you will suffer a loss from your account. So pretty much that’s the trading. The good thing with Meta Trader as a cryptocurrency trading platform is that we can trade with Expert Advisors or the Robots.
I have many courses that show how I do it. I have the Bitcoin 99 course where I include new 99 Robots for the Bitcoin every month, I have the Ethereum 99, I have the Bitcoin Trading Robot – The Cryptocurrency
Never Losing Formula which is a fantastic course where I teach the students how to avoid the losses in the account.
I would suggest you have a look at this course, it’s very useful. And I use the system whenever I’m at home. Recently I travel a lot so I do it fully automatically which you can see in the Bitcoin 99 and in the Ethereum 99.
And in each course, I include a cryptocurrency trading guide which helps you to download the Expert Advisors, install them on Meta Trader, and you will learn the whole process.
Trading Crptocurrencies with Robots
Cryptocurrency trading today is much more affordable then it was before. There is planty of information and the people are more and more aware of what they are doing.
There are a lot of PDFs attached, practical activities, and quizzes in the courses. And I see that this way the students learn faster and their education is just more practical. If you are looking for a guide to cryptocurrency trading, of course, there are guides over the internet.
First, I would suggest you use the guides from the brokers. Some of the exchanges have good cryptocurrency trading guides. But keep in mind that the brokers, the exchanges, the platforms, they all benefit when we are trading. Most of them when we are losing.
But the regulated ones, just when we are trading. They benefit the spread. This is the difference between the bid and the ask price. We always buy at the Ask price which is the more expensive price and we sell on the Bid price which is the cheaper price. This difference is called the spread.
Same as the exchange bureau when you go on a vacation and you exchange currencies, there is a difference, right? Between the Bid and the Ask price or the buy and the sell price, this is what they benefit. So all the cryptocurrency platforms, the brokers, and the exchanges want us to trade.
Start crypto trading with a Demo account
Their guide to cryptocurrency trading will be very motivational for you to start trading and to trade bigger volumes. So take it easy there. I show always in my courses how to start trading with Demo account because this is essentially important.
For the beginners, this is a virtual account that you can use for your trading practice and you have access to the market. You simulate real trading. It’s very useful. Practice on a Demo account before starting trading real money, before investing in cryptocurrency or whatever you are doing.
The cryptocurrency trading today is a little bit different from what it was in 2017 and in 2018, I will tell you why. There is no such huge demand. In 2017-2018 people got crazy about it. All my friends and all the people around me, not just in the Academy and the students but pretty much everyone was asking me, “Is it a good time to buy? Let’s buy. Where can I buy?”
Everyone around the world was crazy about Bitcoin and buying cryptocurrency. Cryptocurrency trading, as I said, is not a hobby. It’s not something simple. You need to have an education, you need to be professional, and you need to follow a precise strategy for cryptocurrency trading.
Be aware of scam brokers and scam cryptocurrency platforms
This is what I teach in my courses. So everyone that got crazy about cryptocurrency trading lost money. Unfortunately, a few people succeeded to hold their cryptos until the right moment. I know so many people that lost their savings. But the cryptocurrency trading today is different because there is no huge demand from the mass of people.
The huge companies and the huge miners are the people that drive the Bitcoin up and down, not the mass of people. However, it is still perfect for trading with Robots, this is what I keep doing. And as well, I am now investing more on cryptocurrency exchanges.
At the moment I use Coinbase but don’t take it as a suggestion. It is easy nowadays to choose a cryptocurrency exchange because we have so many reviews on the internet. We know already which are the trusted and regulated exchanges and which ones turned out to be the scammers.
Unfortunately, many people lost money on cryptocurrency trading exchanges that were a scam. Stay away from those. My opinion is that the best cryptocurrency trading platform is the one that comes from a regulated broker or exchange. And cryptocurrency trading today is much easier that it used to be.
We have a vast collection of educational material
One that has a lot of cryptos to invest in because exactly this is what I show in my recent Cryptocurrency Investment Strategy Course that I analyze the Bitcoin over a trading platform.
But I invest in the smaller cryptos because they move more.
And we can have more profits with the same amount of money that we invest. Very simple. I show that in the course. And third, the best cryptocurrency trading platform is the one that fits your trading style. If you want to do Expert Advisors, you need Meta Trader.
If you want to invest, you need cryptocurrency exchange. That’s it. Now, a lot of people are asking in the forum and in the e-mail, “Is cryptocurrency trading for beginners?” Absolutely. If you do it the right way, it is very suitable for beginners.
First of all, there’s huge volatility which gives you a chance for more profits. Secondly, there’s so much educational material already. We have plenty of courses in the Academy. You will find so many videos on YouTube, very useful ones.
But, one more time, have a look at the reviews, have a look at the comments, and go for a trusted education. It is important to use a trusted guide to cryptocurrency trading.
Select a good cryptocurrency trading course
With the cryptocurrency trading platforms, we also have scammers and there are regulated ones. But for the education and cryptocurrency online courses, the same thing. There are genuine people like what we do in the Academy, we try to teach the people how to trade.
And there are the scammers that are usually connected to a broker. They just want to get your contacts and they will start calling you, sending you emails, and asking you for money. Stay away from those. And if you just go to Google and type “cryptocurrency trading how to” that might bring you in their hands.
I really hope that this guide to cryptocurrency trading was useful to you and it will help you in your journey to successful trading.