starting to day trade crypto question
- Thread starter cashclay
- Start date
Buy Bitcoin with your 2000 and just focus on making/saving more money.
i see. so ur saying just short or long with what 2000 usd can buy in bitcoin?
You don't know???
Why bitcoin? You could open a futures account and trade intraday mini contracts to your heart's content (or until you blow out the account).
Is there a particular reason you want to trade bitcoin specifically? Have you identified an edge that is specific to bitcoin? Most intraday traders would trade cow manure if it had enough volatility. (and a liquid market)
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.
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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
https://www.bybit.com/en
As @johnarb wrote, it's better to trade the futures than the spot market. But, first, where do you live? If you're in the states, you're up against too much restrictions (eg. no perpetual futures, only plain vanilla) and you would be better off just trading forex than bitcoin IMO. Forex also offers better leverage (100x) than BTC.
Why does it have to be Bitcoin? With such a small bankroll, you could instead go for the CME Group's Micro-Ether futures. You could also do the Options-on-Futures for Micro-Ether as well.
I experimented with both, was fun and unless you load up on too many contracts, you won't blow out.
I experimented with both, was fun and unless you load up on too many contracts, you won't blow out.
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)