Cryptocurrency Trading for Beginners – Step by Step Guideline

In our last introductory article on Cryptocurrency Trading for Beginners, I have told you all the basics or importance of cryptocurrency trading. Let’s discuss the next steps on how to trade cryptocurrencies.

4. Read Cryptocurrency news every day

Since your money is involved here, you must know the market very well. Reading news is obviously an wise decision to be updated with the market and know the trend. You can also follow our blog. Here are the some great websites to follow for cryptocurrency news and public discussion:

• Coindesk
• Bitcoin Magazine
• Business Insider
• Coin Telegraph
• Cryptocoin News
• Quora
• CNBC
• Reddit
• Bitcoin Talk

5. Open your Cryptocurrency trading account with IMMFX

IMMFX is offering global traders the opportunity to Profit, by taking advantage from price movements of Cryptocurrencies in the financial market. With IMMFX you can trade Cryptocurrency 24 hours a day, 5 days a week, giving you the opportunity to open and close positions flexibly. Learn more about Cryptocurrency trading with IMMFX.

Why trade Cryptocurrencies with IMMFX?

• You are given the ability to trade without actually purchasing the asset in question.
• Fixed Spreads. No commissions and Swap free.
• At IMMFX we provide fast and reliable execution of your trades with our state–of–the–art MT4 trading platform.
• IMMFX is pleased to be offering a FREE trial of the popular MT4 platform.
• Trade the financial markets in just minutes
• A choice from a variety of Cryptocurrencies that includes BTCUSD (Bitcoin v USD), LTCUSD (LightCoin v USD), or ETHUSD (Ethereum V USD)
• IMMFX guarantees low-cost and low-margin trading.
• 24 hours a day, 5 days a week, giving you the opportunity to open and close positions flexibly.

6. Practice on Demo Account

IMMFX is pleased to be offering a FREE trial of the popular MT4 platform. With the demo account feature, you can enjoy the fast and reliable execution of your trades with our state–of–the–art MT4 trading platform.

7. Fund your account

Once you’ve learned trading properly from our Demo account and ready to jump on real trading, you can now fund your account using different payment methods. Follow this guide to fund your account properly. Once your account is funded, you are ready to make your first trade.

9. Study charts to find trends

How do you actually know when to Buy or when to Sell? Well, you need to study the charts to find the right trends for you to enter into the market. Study charts includes analyzing the history of your chosen currency and finding the right trend on the market. You can also utilize some of our MT4 Indicators (like Moving Average) that will tell you the trend on accurately.

8. Buy and Sell Cryptocurrencies!

After all the market research and technical analysis, once you are ready to execute a Trade, hit the Call. Buy or Sell your currency.

If you believe that the price of any of the Cryptocurrency will increase in value over time, the trade objective is to BUY that currency pair. However, if you believe that the price will decrease in value over time, it’s better to for ‘SELL‘ trading.

Keep in mind that you are given the ability to trade without actually purchasing the asset in question. You can trade a variety of Cryptocurrencies that includes BTCUSD (Bitcoin v USD), LTCUSD (LightCoin v USD), or ETHUSD (Ethereum V USD).

10. Set ‘Stop Loss’ and ‘Take Profit’ and be patient.

To secure your loss and ensure your profit in each trade, it’s always wise to use ‘stop-loss’ position. Let the trade go following the Trend. If your analysis is good, your trade will hit the ‘Take-Profit’ point and  Voila!

Conclusion

That’s All. Trading Cryptocurrency for Beginners is really so easy with the help of smart trading platform. You can trade anytime from anywhere around the world and make a profit from this fastest growing financial market. The value of Bitcoin has increased over 2200% from the beginning of 2017. Don’t waste a day. Learn the market, Identify the trend and make the Profit.