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New to crypto? DON’T trade until you have answers to these questions

Bitcoin trading seems so profitable but there’re also risks lying underneath the ticker. How to test to see if you’re prepared? Is there any tool to train yourself to be a skillful trader?

This is one of the topics discussed last week in the Academy for Beginners hosted by Bexplus.com, a bitcoin-based futures exchange – it is summarized that there’re four most important questions you need to have answers to get ready for crypto trading.

Do you have enough money to trade successfully?

An investment of $25,000 to $50,000 in trading capital is a realistic amount for a full-time trader to support the different expected standards of living. Surely not every trader put that amount of money at the beginning, for those traders with experiences less than 3 months, it’s reasonable to invest $1,000 to $5,000 to learn the tactics and bear acceptable losses at the same time.

How many funds are you willing to lose?

Your investments can be divided into two types, one is that you can afford to lose and the other is you can’t afford to lose. Investment with higher ROI can eat up 20% of your investment yesterday and earn 35% today, or tomorrow. If losing the investment funds can get you risks to pay the bills for living in a month, control it to a level that you can accept.

Are you able to be conscious of your emotional swing and control it?

Losing an investment will hurt you for a while and every successful trader have a long list of loss records. The suitable trading signal can happen right away just one minute after your loss, those who feel angry and confused will miss the good trading signals and fall to bad signals. As “Jack2crypto” (a Bexplus user) shared, whenever he lost a trade, he immediately shut down the trading dashboard and jog for 30 minutes outside to cool his mind, jogging creates an isolated space to rethink the strategy and exercises will help release positive hormones to make people happier. (The annual profit rate for Jack2crypto is 23.14%.)

How much time can you devote to learning trading?

This question distinguishes those who make their profits by luck and those who reach their goals by themselves. There’s a learning curve to learn something new, for bitcoin futures trading, it takes you only 10 minutes to understand the mechanism but it can take a few days to build your principles and strategies after attempts of real trading.

Bexplus – a Crypto Futures Exchanges Designed for Beginners and Veterans

All Features in One Fold

Some crypto exchanges are designed for professional traders only and provide tons of features that are not all necessary for a beginner. Bexplus is the only exchange that all features can be shown in just one fold just like it focuses on 100x leverage trading only – all features are must-have and easy-to-use.

Fewer Margins, Higher Profit

Bexplus provides 100x leverage trading to enable traders to begin with small investments. A 100x leverage allows you to invest 0.01 BTC but enjoy the profits equal to 1-BTC investment. It amplifies the changes of prices to 100x more, for example, if the price increases or falls by 1.25%, a 100x leveraged position in the right direction will be settled as a 125% change, meaning that your investments are 100 times empowered.

Easy-to-use P/L Calculator to Avoid Mistakes

Bexplus provide a Profit/Loss calculator on the trading dashboard to allow traders to calculate precisely how much they’re going to gain or loss and how much fees will be deducted. Those exchanges do not have this feature do not care about beginning traders or intend to hide their fees with bad faith.

Stop-loss / Take Profit Presetting

A loss might happen if the bitcoin goes to the opposite direction you predict. With Bexplus’ stop-loss feature, the system will automatically close the position when you’re asleep.

A 10-BTC funded Demo Account to Practice

Not every futures exchange provides a simulation account because they expect the users to have some knowledge ready and don’t even offer a chance to test the platform for free. After registration, every Bexplus user will have a demo account to simulate the real trading environment and strategy with 10 BTC inside. Surely the practice can not be withdrawn but you don’t need to pay for it.

How to Trade 100x Leveraged on Bexplus

Step 1: Create a Bexplus account in 30 seconds. Bexplus do not demand any personal details except an email address. Verify an email to make all features available to you.

Step 2: Learn 100x trading rules with the 10 BTC practice funds in the demo account. You can trade like a real trader but the profits can not be withdrawn. Bexplus also provides academy materials and 1-on-1 trading education if you need it. Be patient and make sure you have understood how to build your insights. In Bexplus’ official Telegram group you will meet over one thousand active traders to exchange opinions with you.

Step 3: Make a deposit and do real trades. Bexplus confirms bitcoin transactions to the balance automatically. Trade small bits frequently in the beginning, when the time of opportunity comes, you will have sufficient trading experience.

Step 4: Analyse the market and predict when to short or long bitcoin. Coronavirus will cause big plunge or rise frequently, every time the bitcoin prices dance wildly, use 100x trading power to maximize your profit power. Remember to set up a stop-loss on your positions to automatically prevent unacceptable loss.

Step 5: Withdraw your profit. The withdrawal will go under a review procedure but will not ask you for anything but an email confirmation. Normally it will be finished in 30 minutes but up to 12 hours in rare cases.

100% Deposit Bonus

Bexplus is running a 100% deposit bonus promotion which adds the same amount to your balance as your deposit. Users can deposit 1 BTC to receive 2 BTC in the balance. Please take in mind that the bonus itself can not be withdrawn, but you can withdraw the profit it generates.

About Bexplus:

Bexplus is a crypto trading platform focused on 100x crypto futures. Bexplus is established in late 2017 and registered in Saint Vincent and the Grenadines. Bexplus has offices in Singapore, Japan, the US and Brazil and is constantly expanding worldwide.

Find more about Bexplus:

Website: https://www.bexplus.com

Mobile Trading (Android):

https://play.google.com/store/apps/details?id=com.lingxi.bexplus

Mobile Trading (iOS):

https://apps.apple.com/us/app/bexplus-profit-from-cryptos/id1442189260

Facebook: https://www.facebook.com/Bexplusglobal

Telegram: https://t.me/bexplusexchange

Twitter: https://twitter.com/bexplusexchan

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About Author

Collin Brown

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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