The difference between an unprofitable or slightly profitable trader, and a wildly profitable cryptocurrency trader, are often just a few tiny tweaks to the trader’s mentality and strategy.
This guide shares 5 little talked about cryptocurrency trading tips to lift you to the next level as a trader. Logically, this article is not trading or investment advice, and you should treat it as educational material only.
Don’t set your stop loss at obvious points
At the time of writing, over $4 Billion is traded on Bitcoin margin exchanges every day.
This means that Bitcoin futures and options are now significantly more liquid than the underlying spot market that is being used by derivatives products for their index price.
The sheer size of Bitcoin derivatives exchanges, coupled with the fact that most traders on these platforms use very high leverage, makes it relatively easy for large traders and hedge funds to briefly push the price in a certain direction and cause cascading…