I trade online markets since 2015 and I had the chance to perform different types of trading and I started from betting exchange, that gave me the perspective about the ending term for a market, since at the end of the match, all markets were closed.
Compared to it, the most common mistake that people make in trading is what I call the Peter Pan approach. They underestimate the importance of Stop Loss, limiting losses because they think that the market is 24/7/365 operative and sooner or later they will recover the loss.
So why I think cryptocurrency markets are the best?
Well, I have to make a soft distinction, and I delve deeper into it in one of the next articles. Cryptocurrency give you access to three different types of trading: Spot Market, Futures and CFD. Now I will focus on the Spot Market, sharing with you the reasons why I think that this market is incredibly useful for beginners and newbies.
Are you still wondering why?
1 – No expenses to keep a position open, so you can act as a holder or as a trader with almost no distinction.
2 – You can trade against BTC that will give you an intrinsic hedge against dollar (I am going to go really deep into this aspect in the next articles)
3 – Fees for opening and closing the position can be really low, down to 0.07% on Binance, if you use this referral link
4 – You do not have the leverage so you do not risk to receive margin calls and deleveraging of your position.
These are the main reasons I suggest people to strongly evaluate Spot Trading before going deeper into Futures and CFD.
Yes, if you are thinking that in the Spot Market you cannot Short the market and if you are a beginner, trust me. Focus on the Long side and when you will start getting results, you will be probably ready to even short the market.
More contents on trading to come!
Leave your thoughts and eventually some requests for more deepening.
