starting to day trade crypto question

[wartrace]

Perpetual futures can do 150x leverage, but bear in mind that on a 100x leverage, a 1% move against you means liquidation

This is not a good idea, a better trade is a longer timeframe but lower leverage, you can still get a 100% roi on a 20x leverage on a 5% move that may play out over a 1-3 day time period

If forex is a much better trading market, why isn't most of ET trading it? (genuinely curious on the pros and cons)

Why don't I trade Forex? Because I can trade currency futures on a centralized exchange with narrow bid/ask spreads. What are the advantages of Forex over Futures?

 

[cashclay]

You will need $2100 to trade one micro BTC futures.
The bid-offer spread is one of the highest in the world; it is in terms of tens of ticks.
You can't be profitable day trading it when the bid-offer spread is horrific.


There are many many other micro futures with
very good bid-offer spread, good volatility, and smaller
margin requirement.

can you tell me some ? thank you

 

[2rosy]

I'll provide competitive markets and liquidity for whatever you want. Paradigm.co

 

[zghorner]

Pepetual futures on btc, 20-25x leverage, you should be able to make some good profits if you are good with money management and able to pick the direction, correctly on the time frame you wish to trade

https://www.bybit.com/en

that site looks pretty sketchy man.

 

[The_Krakenite]

The only person who makes money in ForEx is Soros, and that's with insider info advantage. These markets are for hedging purposes.

 

[maxinger]

can you tell me some ? thank you

some other futures to consider are
micro gold
micro oil
micro copper
micro ES
micro NQ ...
from CME exchange


There are micro currencies (EUR, GBP, JPY, AUD)
but the volume is very lousy

 

[johnarb]

that site looks pretty sketchy man.

Unfortunately, ByBit is one of the biggest Centralized Exchange for crypto perpetual futures, lots of youtube/influencers are shilling their affiliate links, they make 5 and 6 figures, maybe even more

I've only used Huobi for CeX perp futures a while ago, I only use DeX (decentralized exchange) for perpetual futures trading now

But to use a DeX, a trader would need to utilize native crypto assets and blockchain transactions, maybe too much for ET, which is why I posted ByBit instead

 

[777]

i have about 2000 usd and wanted to start to daytrade in butcoin . I know 2000 is very small if you wanted to trade bitcoin. Does anyone know how I can trade bitcoin with such a small amount of money? is there options trading for bitcoin ?

Why in the work do you think you will have an edge trading Bitcoin?

 

[Good1]

Unfortunately, ByBit is one of the biggest Centralized Exchange for crypto perpetual futures, lots of youtube/influencers are shilling their affiliate links, they make 5 and 6 figures, maybe even more

I've only used Huobi for CeX perp futures a while ago, I only use DeX (decentralized exchange) for perpetual futures trading now

But to use a DeX, a trader would need to utilize native crypto assets and blockchain transactions, maybe too much for ET, which is why I posted ByBit instead

Doesn't Bybit have some kind of Dex available? I think they call it Web3 or something.

This came to my attention when they started doing KYC and I was disqualified from the central exchange, but was still offered access to the distributed exchange. When that happened I made a deal with someone in another country to open an account, and give me access for 10% of any monthly profit. Haven't yet begun trading though until my automation program is finished.

If not Bybit, what DeX have you been using? I would think the main thing is that there be enough other traders or market makers to keep the spread narrow.

 

[Good1]

i have about 2000 usd and wanted to start to daytrade in butcoin . I know 2000 is very small if you wanted to trade bitcoin. Does anyone know how I can trade bitcoin with such a small amount of money? is there options trading for bitcoin ?

That's not a small amount when you consider that BTC can be divisible down to Satoshis in places like Binance and Bybit in their spot markets. In their futures markets they have a minimum size which, if I recall is less than $100 but more than $40. So long as the spread is narrow enough you're good to go. Bybit, already number two in its class with Binance, has apparently picked up some market share since CZ's problems with the bully overreaching SEC liars.

If the SEC decides to bully Bybit, there are other similar class exchanges waiting in the wings to step up. Bybit, like Binance, is popular enough, and exposed enough that they have decided to do KYC for Americans and Canadians, but the next in line of the same class, have yet to do KYC. These exchanges have a more opaque ownership and probably won't start KYC until/unless Bybit becomes the next target of the lying SEC political animals.