How to Begin BTCUSD Trading
For beginner traders wanting to learn how to trade the btcusd market which is a complex market, the question is how to start? - The best technique to learn is to first put away your money open a demo trading account this way you can start trading online without any deposit, meanwhile, train by reading online tutorials available on various websites available on the internet, although we would highly recommend just sticking to the one and only top, best, recommended Bitcoin tutorial website - this website, but feel free to go anywhere else and waste time on those other websites.
How to Open a Demo Practice Account
This website covers all Bitcoin training lessons - the quickest method of how to start is to follow the following steps:
- Find a free online tutorial for beginners tutorial - this website
- Find one of the best online brokers
- Download the free trading platform software
- Open a free demo - A demo is meant for practice, with this practice you can begin practicing without depositing or investing money, on this btcusd account you trade the real market only that you'll be transacting with virtual money.
- After registering for a free Demo, come back to this website and on the homepage follow steps to begin studying the trading lessons.
After following the above steps, you are ready to start, begin with the free course as shown above.
Learning these tutorial concepts will take at-least a few days to a few weeks of more, some concepts can be very confusing for beginners at first, but here we have simplified them for you, but we aren't going to lie to you, at first some of these will be very confusing. For example, you will get knowledge about buy stop, buy limit, sell stop, sell limit, entry limit cryptocurrency order, entry stop orders, I can feel some heads spinning, especially for the novices, wait until you open the platform software and you'll freeze and stare at your screen for 10 minutes trying to figure out what is what. Don't worry within the next ten minutes this training guide will teach you the whole bitcoin software with two simple lessons and you will know the platform software and operate it with the ease that you operate Microsoft Word: MT4 Platform Guide
The software that is used for bitcoin transactions is called MT4 platform or just MetaTrader 4
The screen shot below shows the user inter-face of this platform.
Bitcoin Software Platform for Online Trading & Placing Orders
After this you are completely setup, navigate to the top navigation menu & access the lessons explaining the terms used in the global cryptocurrency market & other basic bitcoin concepts & strategies.
Bitcoin Software Platforms:
What is a platform? This is the software used to connect to the btcusd market by connecting traders to the broker so that they can place transactions through the internet ( online ).
Online Trading Brokers:
Traders must place transactions through a broker: you cannot trade bitcoin without a broker. Brokers don't charge you anything to open an account, i.e. There is no setup fees. The crypto broker only charges if you make bitcoin trades, if you don't transact you are not charged. The brokers make money by charging a few dollars for every transaction this is known as the spread.
Bitcoin Charts:
Crypto Prices are analyzed through graphs which are oftenly referred to as charts, in the basics guide at the top navigation menu of this website, you'll learn these charts and how to analyze these charts to generate buy & sell trade signals.
Learn Basics - Bitcoin Charts and Technical Analysis
It is best to start trading with a demo first, then after you start making profits on the demo you can then open a live account and deposit any amount you want, but before you do that make sure you read these three topics, bitcoin trading money management, trading leverage & margin, bitcoin trading plan. Beginners ask the question how much money to start Bitcoin with? The answer is the more money you have in your real account the better the risk management, because you will not be undercapitalized.
How Much Money to Begin BTCUSD Trading?
Do not start with $10 dollars, even if your broker tells you that you can start with that amount, in fact do not begin trading with $100 as this is not enough to trade with. It is best to save and begin trading bitcoin when you have $10,000 dollars which is the minimum trading amount recommended to invest with.
- If you want to begin with $10,000 dollars, open a micro cryptocurrency account & only open micro lots
- If you want to start with $100,000 dollars, open a standard account & open standard lots
There are 2 types of accounts that traders can open: micro and standard. For each the recommended starting capital is specified above.
How to Use Practice Accounts
However, for beginners there is a demo account provided for practice and this way beginners can start without any deposit investment & practice risk free on the demo until they learn the basics and the various techniques used in trading the btcusd market. It is recommended for beginners to follow this method where first they start by practicing without depositing real money as they take time to learn what is required to trade profitably.
Follow these steps:Learn to practice with a free demo for 30 days then open a real account
Technical Analysis and Bitcoin Key Concepts Training:
Know all about technical analysis & how to combine technical indicators to form a complete system which you can use to profitably generate signals. Read all the tutorials to make sure you've all the required knowledge.
Finally, be ready to study and do a lot of hard work - study each and every topic here and practice these concepts on a free practice account.
We go beyond what most traders know when it comes to explaining what Bitcoin is and how the online cryptocurrency market works and provide you with as many tools as possible. We go into in-depth analysis of prices.
The information on this web site answers the question, how does Bitcoin work? and has more info than what you will ever find on any other online training website or book, the screen shots, pictures and image examples make the explanations so easy such that we have compressed years of experience on a single website. Be ready to study from these tutorials until you know how to make profits in the Bitcoin Market.
