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Crypto trading grows competitive each day. Consequently, high-profit margins are for those that are making a killing out of small price movements using an approach called scalping cryptocurrency
Among the few scalp trading platforms is the BitTrade crypto terminal. The platform supports leading cryptocurrency exchanges such as Binance. Therefore, users have a single uniform trading tool.
To make it more attractive to users among most virtual currency exchanges, the platform offers practical features such as take profit and stop loss. Take profit allows a trader to benefit from a higher price more than their designated limit. On the other hand, stop loss prevents a trader from making a loss when the price dips below their set price.
By a simple click of a mouse, BitTrade users can place an order, cancel it, or adjust it to his preferred price. For the skeptical traders, the platform has a demo section that allows traders to use virtual funds on real data. This prevents them from risking their personal funds and provides them with an opportunity to understand the system before committing real money.
Simply put, the platform allows scalping crypto to “make profits easier and faster.” Apart from the top-notch services it offers to users, the platform has a clean, professional, and easy-to-use interface
As of today, products claiming to offer superior cryptocurrency scalping services and functionalities have saturated the cryptocurrency scalping market. Unfortunately, some may have hidden fees while others charge a premium for their services. BitTrade beats them in four major areas.
Earlier scalping sites and general cryptocurrency trading platforms have intimidating interfaces, especially to non-veteran traders. This has contributed significantly to the slow uptake of digital currencies. Fortunately, with BitTrade, things are done differently.
You don’t have to scan the entire homepage to find simple options such as "Demo trading" "open orders", among other important options. When compared to systems in the same space, the BitTrade platform comes out as the cleanest.
Some scalping websites require users to download the product into their computers before they can enjoy the platform. However, with a fast-moving world, browser-based products provide the necessary convenience and ease-of-use traders badly need. BitTrade understands this very well, which is why it provides a platform that lives on web browsers.
Therefore, users have the freedom to trade from anywhere and everywhere as they only need a computer and an internet connection. Whether they’re visiting a friend or are logging in a cyber café, users can conduct easy and fast trades on BitTrade.
For new scalp traders, there’s a great risk of losing your money if you commit funds at the very first instance. BitTrade provides a demo trading account where users can interact with real data but using virtual funds. This enables the users to have a feel of what they’ll be actually doing when they commit their funds.
The demo account is funded with a virtual $10,000 ensuring that the amount is not depleted before the user gains a firm grip on the market.
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BitTrade’s competitors charge too much for some services on their platforms. To make sure everyone is welcome, the platform charges cheaper service fees. Providing affordable services encourages competitor projects to rethink their fee strategies. Consequently, other cryptocurrency scalping platforms may decide to reduce their fees, which would benefit the end-users the most.
The scalping trading strategy is originally used in the forex market to indicate quick entry and exit times in a trade. Scalping takes advantage of small price movements. Its mantra is that a combination of small wins leads to great profits in the long run.
A scalp trade can last for seconds or minutes. However, scalp trading platforms close all positions at the end of a 24-hour trading period.
Hunters of small quick profits are called scalpers. Scalpers can conduct hundreds of trades in a day to benefit from small asset differences. Note that scalping involves both buying and selling.
Here are the advantages of scalping trading:
Scalpers are guarded against huge market movements because they enter and exit a position within seconds or minutes. Also, scalping platforms have features like take profit and stop loss that cushions a trader against high risks. To take advantage of the available opportunities, a scalper has to follow their trading outlines to the letter, have a combative mindset with the trading zone being the battlefield, and be able to make split-second decisions.
In scalping trading, the market moves in either direction, and a trader can easily take advantage of prices in the top or bottom positions.
Scalping strategies are built around technical factors. Since these factors are easy to calculate, it’s easy to automate scalp trading.
Sometimes the cryptocurrency market is calm, only recording very minimal price movements among certain assets. However, scalping trading strategies make it possible to arrest these opportunities despite being insignificant to day traders.
Scalping is prominent in conventional markets, such as in forex trading. In the forex world, traders rely on a system that provides trading signals curated from technical pointers. Trading signals influence buying and selling decisions.
Interestingly, bots are a common sight in the forex space. They are even entrusted with high-value trades. Bots allow scalpers to enter and exit positions with near-instant accuracy compared to manual scalping. Sometimes, manual scalping is affected by a device’s internet latency.
Digital currencies brought a sigh of relief to the traditional finance sector. With that in mind, the similarities between the two financial worlds (crypto and traditional finance) will help increase cryptocurrency adoption, as well as fuel the exchange of trading tools.
For example, scalp trading tools in the forex market can be mirrored in the digital currency space. This allows crypto investors to make small profits within a fraction of a minute in the same way forex traders benefit. A scalping vs day trading contest puts the former in the lead because of its low risks.
High-end bots handle complicated crypto trading strategies, making it easy to conduct cryptocurrency scalp trading. Unfortunately, the phenomenon is not as conspicuous in crypto as it is in forex. Why? It’s because trillions of dollars flow into the latter’s market, with much of it going into major forex pairs.
This has a high contrast to the cryptocurrency market where only a few — around $100 billion dollars (actively traded) flow into the market. Bitcoin accounts for more than 50 percent of the cryptocurrency market share. Therefore, most of the dollars flowing into the crypto world are tied to it.
As such, crypto assets with enough liquidity to power scalping trading are less. Currently, Bitcoin and Ethereum are the only coins strong enough to handle cryptocurrency scalping trading. Bitcoin scalping is the most profitable among all due to the coin’s high liquidity.
Crypto scalp trading strategies are based on technical indicators that allow for easier execution by trading bots. However, there are three key ingredients - order types - that help in executing these strategies.
As crypto scalp trading gains momentum, BitTrade keeps up with the pace by providing a clean user interface and low subscription fee. Without downloading software, a trader will never have to miss a trade.
Furthermore, the crypto terminal is optimized for web browsers reducing latency and enhancing entry and exit times. A demo account effectively simulates live trading, reducing the learning curve for beginners.
New features and upgrades are being rolled within short timeframes, making it necessary. A missed update translates to a missed profit-making opportunity. BitTrade takes user data security seriously. As such, it has some of the most stringent security measures to protect emails and personal user data from landing into the wrong hands. We are also not saving secret keys, necessary for connection with other Exchanges.