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10/06/21 10:53
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Bitcoin and other major crypto experienced a dip in value on Thursday, erasing gains made earlier in the week. The decline came after the Federal Reserve signaled that interest rates would remain high for an extended period, with Bitcoin retreating 2.3% to $26.5K. Despite the bearish pressure, the founder and CEO of Bitcoin joint mining company Xive, Didar stated that the stagnant rate increase is positive for Bitcoin. He suggested that this could reduce the attractiveness of mainstream financial assets to institutional investors in the long term, potentially driving a new rally in Bitcoin's price. Major altcoins and exchange tokens also struggled on Thursday, with ETH changing hands at $1,585, down about 2.6% from Wednesday. Other altcoins such as BNB and BGB also experienced losses. Despite these challenges, some analysts believe that Bitcoin is likely to remain within its recent range between $25,000 and $30,000. Riyad from digital asset data platform Kaiko, noted that the market needs a catalyst to mount any serious rally. What are your thoughts? -
Traditional banking systems served as the gatekeepers of financial services for long, dictating how people access loans, save, and invest in opportunities. Typically controlled by a centralized system with a single authority such as a bank or government in total charge, this centralization is limited by high fees, restricted accessibility and slow transaction speed. Dentralized finance, DeFi, got introduced as a blockchain-based financial system that removes intermediaries or central authorities, and utilizes smart contracts instead. By eliminating intermediaries, DeFi delivers core benefits like improved accessibility into the financial system for everyone having internet connection regardless of their location. DeFi is also valued for its transparency. While traditional banking system often deny customers audits on how their assets are being managed, DeFi, through the help of blockchain allows anyone access to tracking and auditing transactions, thereby raising trust. Furthermore, DeFi also offers various financial services and products like DEX, lending and borrowing, stablecoins etc, all known to proffer varied innovative solutions, while operating 24/7 in contrast to traditional finance. DeFi isn’t flawless as issues like insecurity, lack of consumer protection etc are still prevalent; however, the growth of DeFi has been impressive; since its introduction, the total value locked in DeFi protocols has grown significantly indicating that the demand for DeFi services is fast growing. DeFi seems to be redefining financial industry by offering an alternative to traditional banking systems. With the increasing adoption, can we expect to see an overhaul in the way we access financial services? -
Leverage is good but please use it according to your risk management system coz the higher the leverage the higher the risk, I trade my perpetual futures on Bitget tho, the exchange offers high leverage but I only use according to my risk management system.
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Question
Konrad
When trading on any platform (CFD) each deal has a default trade execution type set to 'net off'. What is the reason behind choosing this value as the default one?
I'm asking because I just lost some money (again) when opening new position against another already existing position.
Imho most ppl when they see name 'new deal' they expect to open new position - if they already have an opened position on the opposite side of the market, they should know about it and the intention behind new deal is to open a hedge - not to trim an existing position.
Also, hedge is (again Imho) better solution from customer's perspective - it doesn't involve loosing money.
So why IG has decided to go for 'net off' option?
Possible solutions:
1. Leave the fiend empty but required - this will prompt a trader to make a conscious decision.
2. Make it configurable.
3. Make 'force ooen' as a default option.
4. Add another option to edit existing position (as ame way as you can edit limit/stoploss) - for situations such as closing only fraction of existing position...
K
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