However, for those of you who are not yet members, you can register here. Previously, you can check other tips here.
Previously, you need to know the general trading concept. The world of trading can seem fast-paced and busy. Rather than sporadically pressing buttons, trading requires the right decision-making strategy. This is also a way to learn bitcoin trading for novice traders.
Trading is a broad term and covers many financial markets. For example, the market for shares, foreign exchange, and funds traded on the exchange.
The trading process and those involved have also changed and evolved over time. Trading is loaded with probability and it remains at risk whether the desired results will be achieved.
You also need to understand the difference between trading and investing. These two things have different goals. Traders follow unique strategies that distinguish them. The main difference between trade and investment is related to the term of ownership of assets.
Investment implies a long-term commitment to assets, while trading generally implies short and medium term involvement. Investors try to gradually build profits through buying and holding assets for a long period of time.
So, predicting the price of bitcoin requires a special method. Because learning to trade bitcoin is a bit different from learning to trade in other commodity products. Bitcoin also has different potentials and risks. Because indeed every investment product has different advantages and disadvantages.
To always be profitable in learning bitcoin trading, you need to listen to these crucial tips:
1. Understanding risk management
Many beginner traders who are learning bitcoin trading find it easy to get cuan. But it’s not that easy. You need to understand risk management. This is important for novice traders who are learning bitcoin, especially trading.
There are many trading risk management tools available. In addition, you can also take advantage of the orderbook feature on the application or the website https://indodax.com/. In the order book, you can set at what price you buy and at what price you sell.
Of course, you want to set up buying at low prices and setting up selling at expensive bitcoin prices. In addition, you can also avoid losses and wait for prices to rise again. Well, order books will make it easier for you to sharpen risks.
However, this method is different if you don’t want to trade bitcoin or just invest. If you only want to instantly invest bitcoin and sell it instantly without an order book, then you can try Bitcoin.co.id. The bitcoin.co.id website is also a product of Indodax. At bitcoin.co.id, there is no orderbook, making it easier for investors. To be able to distinguish bitcoin.co.id and Indodax, you can see it here https://indodax.academy/learn-bitcoin-coba-bitcoin-co-id/.
2. Price of Fluctuating Bitcoin
You have to understand that the price of bitcoin doesn’t always go up. Many traders who are learning bitcoin don’t understand this, so they often panic. If you understand that the price of bitcoin does not always go up and can go down at any time, you will not panic.
In fact, if or when the price of Bitcoin rises, it can completely fall back at a certain point. This happens because the market is saturated. When prices fall, you don’t need to worry. Because there is always the possibility of the price of bitcoin rising towards its highest point. In fact, when the price of bitcoin goes down is the right time to buy. So when the price goes up, you get a double profit.
3. Determine Trading Objectives
Many people invest in bitcoin in the long run, anticipating price increases. While it is true that bitcoin prices may rise and bullish gradually reach the highest level.
However, in bitcoin trading, short-term investments can be more effective. What’s more, there are still many opportunities around short-term bitcoin trading. Especially if you want to make trading as a livelihood or daily work. There are conditions where you need money for living expenses. Then, you need to do a careful calculation in bitcoin trading.
4. Looking for Trends
The price of bitcoin can change and is very difficult to predict. However, you can see trends. One of the determinants of trends is halving day which limits the supply of bitcoin at the miners level. This makes bitcoin supply reduced and demand increased. So the price also increases. Halving day happens once in 4 years. And this year it happened in May 2020.
In fact, bitcoin has experienced two very significant increases about a year after halving, respectively in 2013 and 2017. With the next halving expected in May 2020, the 12-month period after that date is believed to be the price of bitcoin.
5. Stay Informed
Stay informed, especially if you want to learn bitcoin with short-term trading methods. If you keep on searching and getting information, this will equip you to make predictions based on good knowledge.
You can also continue to follow all Indodax websites and all social media. Because Indodax content is always focused on education and price development.
Well, that’s the crucial tips so that you always profit in bitcoin trading. Hopefully the tips this time are useful for those of you who are learning bitcoin trading.