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Author: Admin | 2025-04-28
6 Reasons to Choose FP Markets An Australian regulated Forex broker Australian Regulated Segregated client funds & regulation in Australia Tighter Spreads Market leading spreads from 0.0 pips, 24/5 Faster Execution Low latency, ultra-fast execution under 40ms Advanced Platforms MT4, MT5 & WebTrader with superior client portal 24/5 Multilingual Customer Support Award-winning support & personal account managers Established in 2005 15+ years trading experience Start Trading Cryptocurrencies with an Australian Regulated Broker Start Trading Cryptocurrencies with an Australian Regulated Broker OPEN A LIVE ACCOUNT What Are The Steps To Placing A Trade? Step 1 | Understand Bitcoin As with any instrument you want to trade, it’s important to have an understanding of how things work. With bitcoin, you have to take time to study the fundamentals including what influences the cryptocurrency’s price and how margin calls work. You will have to know the latest bitcoin news and have an idea of what’s next for the price of bitcoin. It will also be vital to know how to analyse bitcoin price movements. The main methods for analysing the bitcoin market are technical and fundamental analysis. Traditional fundamental analysis may not work for cryptocurrencies therefore bitcoin traders tend to favour technical analysis to predict future price movements. However, it’s important to stay up to date with any news that can impact bitcoin price regardless of the analysis method you choose. Technical analysis focuses on the cryptocurrency’s price movement and historical patterns. Analysing past data and comparing timeframes can reveal emerging trends and patterns. Technical tools such as trend-following, support and resistance levels, Fibonacci levels, and Elliott waves, are favourite tools of bitcoin traders. Fundamental analysis tries to determine the price of bitcoin by looking at the internal and external forces that can affect its value. This means that fundamental analysis for bitcoin can involve the evaluation of major bitcoin and macroeconomic news, regulation updates, and technical developments. For example, if a large economy decides to ban bitcoin, fundamental analysis will probably predict a price drop. Step 2 | Create a Plan A good trading plan is essential. It will help you to make objective and educated decisions that increase your chances of becoming consistently profitable. Some of the key things to include in your plan are: An outline of your short- and long-term trading goals and expectations. A description of your risk appetite and preferred trading style. A robust trading strategy with
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