Let’s briefly describe the features of trading bitcoins on the exchange.
On most exchanges (except BitMEX), it is impossible to buy cryptocurrency using leverage (therefore, Bitcoin trading is closer to the stock exchange than to foreign exchange). On the one hand, this protects against Stop Outs, and on the other, quite a decent amount of capital is needed to open a deal. Thus, speculating with a small deposit will not succeed.
The amplitude of fluctuations in exchange rates of securities or securities depends on fundamental factors. Bitcoin is not provided with anything (the dollar, too, but the US has a considerable authority over the dollar), so its exchange rate can soar up and collapse down, which significantly increases the risks.
Since the risk is quite high, we do not recommend trading medium-term transactions. Trading on the “1 Hour”, “4 Hours” or “Day” timeframes may force you to leave open positions for the weekend. If a serious gap occurs on Saturday and Sunday, when the market is closed, you will owe the broker an impressive amount. Short-term transactions in most cases are successfully closed, even if they are open on Friday, and long-term trading is not particularly sensitive to gaps.
Since the volumes on the stock exchange are monetary, and not tick, like on Forex, when trading with cryptocurrency, you can successfully use volume indicators.
Know that there are many opportunities for earning cryptocurrency on the exchange and they have very good prospects. But do not forget that high potential incomes are fraught with risk, and consider your actions if you want to avoid problems.