a week ago
At the moment, Bitcoin, is the smart trade. The smart money is on Bitcoin right now. Put to one side whether or not you think Bitcoin is in a bubble waiting to fall. From a trend following perspective the trend is strong and long!
Bitcoin is one of the best performing asset and currency in 2017. Bitcoin is outperforming Gold in times of crisis and political uncertainty. For example, when the rhetoric started between US and North Korea then yes Gold did move upwards but Bitcoin moved more upwards. During this period, Bitcoin, performed better than Gold. Bitcoin was actually less volatile than UK FTSE 100 stocks during this same time period. A popular share like Lloyds was plummeting between 1% - 3% in a day.
The trend is your friend when it comes to making profits consistently. From a technical perspective, just look at the charts. It tells you a very interesting story. Look at the 20 day, 50 day and 200 day moving averages. It may be wise to trade long on any pullbacks looking closely at Oscillators.
I don't think there is a better trade on IG.com than Bitcoin right now. If there which can make you as much money as Bitcoin per day, week or month then please let not just me but everyone reading these posts know.
NIce info you are shring here. I am always scared of bitcoin and hear a lot of tarders dont touch it.
I guess set limit orders on the pull backs but i find close stops do stop you out as the volitilty gets high.
yesterday - last edited yesterday
It is very scary indeed. Risk management is crucial. Friday was very difficult and the ranges with changing and so setting stop losses and limits were very difficult.
To trade Bitcoin effectively you need large cash / equity balance, balls of steel, be ruthless and not let emotion get in the way and most important not to trade against the trend.