You can find a complete list of major Bitcoin exchanges on Bitcoin Wiki:
https://en.bitcoin.it/wiki/Buying_bitcoins#Major_Exchanges
How to trade Bitcoin smartly: Technical analysis primer; you now know that bitcoins behave like usual shares or currencies. It means you can apply all the powerful methods of technical analysis — that’s the collection of tools that was developed for professional traders and have made many of them astonishingly rich.
Of course, you need to be smart (and, if you are reading this story, you definitely are!) to outsmart the market and the brave. And, I have to add the usual disclaimer: only invest money that you can afford to miss; this is a simple rule with all financial market trading. Never invest borrowed money as you might end in deep trouble otherwise.
What is the idea of technical analysis in a nutshell? —It is very simple. You can gain much more for your investment if you do not just sit and wait, but rather use the cyclic character of price evolution and sell your bitcoins when the price is high and buy them again when the price is low. To do it properly, you need to determine the trend and find the right moments when the trend is reversed.
Trend is your friend Let us start with determining the trend. The easiest thing to do is to use a moving average or super bitcoin trading tool package. That is a very simple approach that you can try in your Excel spread sheet in a matter of minutes. I will show you how. The point is that the price always fluctuates. Your averaging algorithm has to smooth the fluctuation sufficiently, on one hand, while still showing you the changes in the trend as soon as they occur (this property is called responsiveness).
Obviously, these two requirements are orthogonal, and you need to balance them. Simple moving average (SMA) involves just taking the price for a given day, add to it the prices at a given number of previous days and divide the sum by the total number of days. You can save yourself the stress of learning it slowly by yourself
The problem with this sort of averaging is that you take into account equally the today price and the prices that happened many days ago. As a result, your SMA10 curve predicts tomorrow’s price mainly based on the prices from several days ago.
For such a volatile currency as Bitcoin, this is not a very good idea. To correct for that, you can take more recent price values with a higher weight in your averaging. The simplest realization of the weighted moving average (WMA) would be just to account for the most recent price twice. Or, for our SMA10, we can multiply the current day price by 10, the previous day by 9 and so on. To be on the safer side, making use of super bitcoin trading tool package will save you a lot of stress and headache.....To be continued
FOR THE LIST OF FOREX BITCOIN TOPICS IN CLASS 1 & 2 OF FOREX BITCOIN TRADING TRAINING, GO TO: https://bitcointalk.org/index.php?topic=1569460.new#new
Do you want to become a smart and successful bitcoin trader? Trade bitcoin using Forex approach.
Download Bitcoin Forex Class 1 lesson 1 Video (Compressed Size 63MB)
Topic: SHORT BITCOIN TRADING STORY FOR NEWBIES PART 3 (Read 328 times)
Jump to: