Abstract: The Bitcoin price market was shocked in the past 2 months. The Bitcoin price has fallen from $10000 to $7500 in September and pulls up to $9000 in October. According to the research of the Bex500 research group, on 26th October, the Bitcoin contract market, there are 89 million US dollars contracts that have been wiped out. Many traders suffer great losses during this period. It comes up with a serious question: is it impossible to earn profit from the Bitcoin market? Bex500 experts, Tom Beck, give you the tips to make a profit from Bitcoin contract price.
Tom Beck, who is the senior investor and one of the partners of the Bex500 Crypto-funds group, has 10 year’s trading experience in a stock, forex, and commodity market. In the Bex500 inner trading sharing lesson, He has shared some skills to all the classmate for helping them to improve their trading skills, the content is chiefly as follows:
1. Control your margin:
Margin is the weapon you only have in the market, if you were going to fight for the profit, you have to control your margin. Some traders complain that the bitcoin price is too risky and their order is always been liquidated. However, most of them have a habit of keeping their margin rate at a low level. As we all know, the futures contracts have the liquidation rate, if you keep your margin rate close to the liquidation rate, your order is always in danger. Therefore, try to keep your margin rate in a safe range, you will have more chance to win. In Bex500 exchange, it provides 100x leverage to all traders, if you have full control with your margin, your trade will go with less risk but more profit.
2. Cut the loss and run the profit:
make good use of stop loss and take profit(SL/TP) tools. Set up the expectation of profit and loss and use the stop loss and take profit function to control your order for achieving your goal. Follow the quote: Cut the loss and run the profit. Always keep in mind that if the profit is larger than the loss, your trade will remain profitable in the long run. Do more practice in Bex500 simulation mode, the stop loss and take profit system is intelligent, you only need to put the SL/TP instructions once and your strategy is all set.
3. Emotional Control:
Being full control of your emotions is necessary in your trading career. Learning how to manage your emotions during your trade can increase the possibility of profitability. Being in complete control of your emotions, you may pay close attention to the following elements.
First, being objective, you need to be honest with your self-performance. Summarize the pros and cons of your trading skills and strategies. Face them immediately and eliminate the mistake in the future.
Second, stable, knowing your strengths and weaknesses, build up your own trading skills and strategies, believe in yourself and find a stabilized ways to increase trading efficiency.
Third, knowing when to leave the market, try not to overestimate yourself, you are not the robot. Try to take a break and stand away from the market for a while, the overtrading may be harmful to your trade. Set the balance between your work and life and enjoy your lifestyle.
Hope you all good luck.
Bex500 Exchange
Bex500 Exchange is one of the most professional Bitcoin future contract exchanges in the world. All users can trade 40+ products include a perpetual contract and exclusive double contract by Bitcoin or USDT. Bex500 has a self-developed Web & App trading system and advance MT5 system to fulfill the demand of all kinds of traders. Bex500 put a lot of effort to build up a security system includes the offline signature, isolated cold-hot wallet, DDoS protection system which ensure the safety of the funds from all users.
Check out more information about the Bex500 exchange by https://www.bex500.com or https://coincodex.com/exchange/bex500/ and hope you enjoy your trading in Bex500.
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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.
