What Is Day Trading Cryptocurrency – We would like to clarify that there is currently no official LINE account internationally We have not established any official presence on the online messaging platform Therefore, any account claiming to represent International Online is not authorized and should be considered fake. CFDs are complex tools 72% of retail client accounts lose money when trading CFDs with this investment provider. You can lose your money quickly because of leverage Please make sure you understand how this product works and whether you can take the risk of losing money CFDs are complex tools 72% of retail client accounts lose money when trading CFDs with this investment provider. You can lose your money quickly because of leverage Please make sure you understand how this product works and whether you can take the risk of losing money
Learn more about trading the volatile – and risky – cryptocurrency markets Learn how to take a position in CFDs, then see an example of crypto trading in Ether
What Is Day Trading Cryptocurrency
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Cryptocurrency trading involves buying and selling cryptocurrencies on an exchange. With us, you can trade cryptocurrencies by speculating on their price development through CFDs (Contracts for Difference).
CFDs are leveraged derivative products, meaning you can trade the price movement of cryptocurrencies without owning the underlying currency. When trading derivatives, you can go long (“buy”) if you think a cryptocurrency will increase in value, or (“sell”) if you think it will decrease.
On the other hand, when you buy cryptocurrency on an exchange, you are buying the currency itself. You will need to create an exchange account, deposit the full asset value to open a position, and store the cryptocurrency tokens in your wallet until you are ready to sell.
The cryptocurrency market is a decentralized digital currency network, meaning it operates through a peer-to-peer transaction control system rather than a central server. When cryptocurrencies are bought and sold, the transactions are added to the blockchain – a shared digital ledger that records data – through a process called “mining”.
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Cryptocurrency markets evolve based on supply and demand However, because they are decentralized, they tend to avoid many of the economic and political concerns that affect traditional currencies. Although there are many uncertainties surrounding cryptocurrencies, the following factors can have a significant impact on their value:
Cryptocurrencies are notoriously volatile For traders using leveraged derivative products that allow both long and short positions, large and sudden price movements present profit opportunities. However, at the same time, it also increases your risk exposure In short, the more volatile the market, the more risk you take when trading it
In addition, you can trade cryptocurrencies through a CFD account – derivative products that allow you to speculate on the rise or fall of the price of your chosen cryptocurrency. Prices are quoted in traditional currencies like US dollars, and you don’t take ownership of the cryptocurrency itself. CFDs are a leveraged product, meaning you can open a position for a fraction of the total trade cost Although leveraged products can increase your profits, they can also increase your losses if the market moves against you
With us, you can use CFDs to trade 11 major cryptocurrencies, two crypto crosses and the Crypto Index – an index that tracks the price of the top ten cryptocurrencies, weighted by market capitalization.
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Opening a CFD trading account usually takes a few minutes And there is no obligation to fund your account until you are ready to trade. We have been providing traders with access to leading financial markets since 1974 and are a FTSE 250 company.
“Going long” means you expect the cryptocurrency to increase in value In this case, you would choose to “buy” the market
Conversely, “going short” means that you expect the price of the chosen cryptocurrency to drop, and here you choose to “sell” the market.
Because you are opening your position on margin, you can suffer a quick loss if the market moves against you To help you manage this risk, you can set a stop-loss level on the trading ticket. If triggered, the stop-loss will automatically close your position and cap your risk.
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You can also enter a limit level, to lock in your profits if the market moves in your favor Here your trade will be automatically closed to ensure positive returns as soon as the market reaches the price you set
Remember that when trading CFDs, each contract will specify an amount per market movement If the CFD is priced at $10 per point and the price of the underlying cryptocurrency moves 10 points, your profit or loss – excluding expenses – will be $100 for the contract.
Once you have set the number of CFDs you want to trade, your stop-loss and limit level, you open your position by clicking on “Place Trade”.
When you decide to close a position, click on the “Positions” tab in the left menu Select “Close Position” and set the number of contracts you want to close You can also open a market trade ticket and take the opposite position to where you opened – for example, if you bought a CFD to open, you will now sell and vice versa.
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After a thorough analysis of Ether price movements, you believe that the market will go above the current 3,200 level. So, you decide to go longer using CFDs Because you are long, you open your position by selecting “Buy”.
In this example, after applying a spread of 8 points – and excluding other costs – the bid (or offer) price is set at 3,204, while the sell (or offer) price is 3,196. Specifies the amount of CFD you use $1 per market move, and you choose to trade 10 contracts This brings your total exposure for this position to $32,040 ($3,204 x $1 per point x 10 contracts).
But since Ether CFD positions can be opened with a 50% margin deposit, you only need to deposit $15,020. At this point, it is important to note that if your exposure is more than your required margin, you will have to lose more than your deposit if the market moves against you. So, to manage your risk, you can set a stop-loss to automatically close your trade.
The market moves up to the 3,500 level as you predicted, at which point you decide to close your position and take profit. The sell (or buy) price after applying the spread is 3496. The price difference between 3496 and 3204 is 292 points. This, excluding other costs, brings your profit on the trade to $2,920, or a 19.4% return on your margin deposit.
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Suppose, however, that the market declines and your guarantee reaches the stop-loss level, closing your position at 3,000. The difference here is 204 points, meaning you are cutting a loss of $2,040 (13.6% on your margin deposit). , fee for guarantee stop-loss trigger
Trading cryptocurrencies carries inherently high risk: markets are volatile and leveraged derivatives like CFDs only amplify these large and sudden market movements.
You should always ask yourself if you can afford to risk monetary loss, and if so, how much? That said, margin requirements on cryptocurrency CFDs are relatively high – currently 50% margin, but may be increased in times of market volatility. This means that trading cryptocurrencies can cost more than other markets
To get a better idea of trading costs, consider opening a demo account You’ll get $20,000 in virtual funds to trade over 13,000 popular markets, not just crypto.
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There are two main ways to trade cryptocurrencies First, you can buy and sell real cryptocurrencies on an exchange In this case, you will need to open an account on the exchange and create a wallet for the coin, as well as pay the full value of the coin in advance. We do not currently offer this
Second, you can speculate on cryptocurrency price movements using CFDs These are derivative instruments, which means you are not buying or selling actual currency So, you don’t need an account on an exchange platform or wallet
Trading with derivatives like CFDs also means that you can take a position in both rising and falling markets – meaning if you think a cryptocurrency is going to gain, or short (“sell”) if you think it will fall. If you own coins, in contrast, you can only profit if you sell your coins for more than you paid for them.
Since CFDs are leveraged, you can open a position by paying an initial amount that is only a fraction of your total market exposure. However, this also increases your risk, as losses can add up quickly, especially in markets as volatile and unpredictable as cryptocurrencies.
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In the case of CFDs, your loss may exceed your initial deposit When trading, it is
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Originally posted 2023-09-13 22:28:28.
