BTCC has been among the leading providers of Cryptocurrency futures products since 2011 and is among the most secure platforms.
In this tutorial, I’ll walk you through how speculators rake in cash at the comfort of their homes.
Let me help you clear your mind regarding going short or long:
● To Short refers to Sell
● To Long is to Buy
For your information, BTCC futures, almost like the Forex markets, give dual opportunities with volatility.
What do I mean?
You can either sell or buy as the markets fall or rise respectively.
How to Long (Buy) Bitcoin with Leverage on BTCC
1st, ensure Bitcoin prices are trending upwards - in other terms, bullish markets.
2nd, select your preferred time frame: between 1,5,15,30, an hour, day, week, or month.
3rd, at the top right, locate the “Buy” button in light green color. Select the green button.
4th, fill in your metrics for the buy:
● Select leverage. For daily contracts (BTC and ETH), you have up to 150X. Also, please note that longer timeframes have leverage caps at a maximum of 100X.
● Select your lot size. The higher your lot size and leverage, the higher the profits and the higher the risk of loss.
● You may set stop limits by toggling the button to on or off.
● Set your stop loss and take profit figures corresponding to your projections.
If prices remain up-trending and hit the profit position, you are in the money. And the reverse is true price dives may hit your stop loss which helps you protect the capital.
Additionally, Helpful Conditions for going Long on Bitcoin Futures
Pro-speculators do not rely on naked eyes to pick the trend of Bitcoin prices against a timeframe. Therefore, it’s best to master at least two indicators to help with insights regarding the entry and exit positions.
● One good indicator is the MFI or Money flow index - it helps you see when Bitcoin is in oversold or overbought regions.
● Second is the Moving averages for within 20 days and 200 days and their Crossovers.
● MACD - moving average convergence divergence signals
How to Short Bitcoin with Leverage on BTCC
Shorting Bitcoin applies to down-trending markets.
The process to short Bitcoin futures is as follows:
1. From the BTCC trading interface - locate the dark-pink button marked “Sell” and click on it.
2. Select your leverage level of preference.
3. Type in your in the lot size you prefer
4. Type in your take profit and stop loss positions
A correct prediction will bring you in the money when the price keeps dropping until it hits the TP (Take Profit) position. Else, if the price escalates upwards, the remedy you should have in place is price hitting the stop loss.
Additional Considerations for going short on Bitcoin Futures
Aside from the use of a great strategy and indicators, consider two more factors to help you sharpen insights to correct predictions:
● Fundamental Analysis: consider the geopolitical activities and announcements around the globe. Fundamental announcements include: Tesla Motors disallows BTC as acceptable payment, and China tightens hold on crypto-dealers.
● Sentimental Analysis: This considers the general feel of the speculators out there. Do they feel a demand for BTC at the current price, or could they be thinking of disposing of Bitcoin?
Going Long or Short with Tried and Tested Strategies
As you've seen, it's straightforward to open contracts for either long or short for Bitcoin futures on the BTCC trading interface. The reality is, however, winning in crypto futures is more than opening and closing contracts.
The core comes in with managing capital considering the risks starting with the volatility of prices. Essentially, it leans more towards how you take on risk mitigation.
Arm yourself with a tried and tested strategy. Trying and testing a strategy involves you doing it with repetition while keeping track of some scores.
The bottom line with strategy testing is that it will allow you to protect capital and grow your account if you can win more than you lose. The truth many never tell you is, even professionals loose positions. And they always strategize to recover and keep on speculating.
Pro-Tip: Every winning strategy comes with different indicators and metrics for position/contract entry and exit. Every speculator should invest in time and analytical schemes to help them sharpen the skills with the set of selected indicators.
On the top left of the BTCC web-trading interface, locate the plus (+) sign and click on it to select your preferred indicator from the list. Access more indicators by scrolling downwards using the scroll bar to the pop-up indicator list.
If you would like to trade everywhere, you’d better download their APP with a welcome bonus.
Customizing the Trading Interface
Every speculator has different expertise from different schools of thought in their experience. To add to everything, customize the BTCC interface to the tools and indicators that suit their speculative experience.
Work with a graph of your choice. What appeals to you? Candlesticks are most common, but you can work with the line bars, area, baseline, or Heiken Ashi.
Accessibility Modes- Desktop, Mobile apps
BTCC is accessible to you on the go. The platform covers all: Laptop and desktop users on the web for Mac and Windows.
Mobile platforms users have apps on both the App and Google Play stores for iOS and Android speculators.
Bitcoin price keeps fluctuating. It's either going upwards or downwards within any specific time frame. As a speculator, you peg your speculation to an upswing or a downswing in prices.
Long contracts apply where the price is rising, and short contracts for when prices are falling. As a speculator, the opportunities are in both directions of volatility. However, for optimal results, aspire to go beyond the knowledge of opening and closing contracts with respect to the trend's direction.
Best results arise from great strategies to manage volatility and other risks with the prices of Bitcoin.
And a good strategy considers the trading time frames, lot size, stop loss, and rewarding risk ratio. It simply goes to more of leveraging the techniques and plans to win more than you lose.