Bitcoin 101 – Retire in 365 Days

Bitcoin 101

How to Retire in 365 Days Without Risking Your Financial Future

 

Bitcoin and the cryptocurrency world offer people the oppotunity to invest at every level. You can start with as little as $100 and move up from there. It’s the easiest market to generate profit, but there are still some landmines to be aware of. This report is for the beginning investor, who is starting to research the market, the trends and which of the five strategies fits into their lifestyle.

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GDAX Platform Tour – How to Trade Cryptocurrency Profitably – No Experience Necessary

How to Trade & Profit on the GDAX Platform

No Experience Necessary

GDAX Platform – Trading Bitcoin and Cryptocurrency

Trading Bitcoin and cryptocurrency is more profitable than trading in the Forex or stock markets. Because the crypto markets are still so young, they are very volatile, so profits can be made very quickly. Traders use a variety of platforms, but I’ve chosen GDAX for its user-friendliness and it’s connected to Coinbase, a trusted Bitcoin and cryptocurrency exchange. The connection between GDAX and Coinbase makes it easy to transfer funds from your bank account, credit card or other cryptocurrency wallets to the platform.

Even if you’re not familiar with trading, you can open an account and start making successful trades instantly, using the Bandwagon strategy. It’s simple. You buy low and sell high, based on what other people in the market are doing. Sometimes following the crowd actually pays off 🙂

If you are an experienced trader, you can use your expertise to finely tune your trades and bank more profit, because you don’t have to worry about placing stop losses or losing money. Your trade simply sits on the platform until it is executed. If you change your mind, simply cancel the trade and your currency is instantly transferred back into your Order Balance. And to top it off, you can trade 24/7/365. The market never sleeps.

Trading using the Bandwagon Strategy is simple and it only takes 2 steps:

GDAX platform order book

STEP 1 – Check the order book and locate the bars on the left hand side that indicate what price a large number of people are bidding or asking. The green numbers are Buy orders. These indicate how many people are buying Ethereum and how much they are willing to pay.

The orange numbers are a list of the people who are selling Ethereum and how much they are asking. In this case, there are a large number of buyers (200 and 201) that are selling at .09750 and .09740.
If you were selling, this is an easy way to decide what price to ask. Since a large group of people have chosen to sell at .09750 or .09740, it would make sense that you can sell at this price too. But also keep in mind what price you paid. If you bought Ethereum at .09800, you wouldn’t sell at .09750, you would sell higher than .09800 even if it meant you had to hold your currency for a bit longer.

Now that you’ve decided on a price, you’re ready to place your order.

 

STEP 2 – Placing your order

GDAX order form

  • Select the Limit link at the top. There are no fees when you trade using the Limit link
  • Select the appropriate button for either Buy or Sell
  • Enter the amount of currency you are buying or selling in the Amount field
  • The Limit price is the price you selected in Step 1
  • Click the Buy or Sell button at the bottom and your new order will appear in the Open Orders Panel.

When your order is filled, you do it again. If your sell order was filled, your next order is a Buy order. If your Buy order was filled, your next order is a sell order. Sometimes, you’ll place several buy and sell orders in the same day. Sometimes, the market will surprise you and you may hold the order for several days before it’s executed.

The Bandwagon Strategy is an easy way to start trading instantly and making a profit. You can start small and grow bigger as you progress. The most important thing is to get started. Using this strategy, you won’t lose money, so there is no risk of financial loss. I know this sounds like a lame sales pitch, but you have nothing to lose and everything to gain 🙂

UPDATE – Under Over Strategy:

Another simple strategy is the Under – Over Strategy. Place a buy order at .00001 below the current price. Usually, your order will execute within a few minutes, sometimes seconds, then place your sell order .00100 above your buy order. Your orders generally execute quickly, so you can place several orders every day and collect quick profits.

The order would look something like this:

Buy:
.09500

Sell:
.09600

A variation to this strategy is to split your sell order to capture more profit. If you place a buy order for 1 Ethereum at .09500 you could place multiple sell orders to take advantage of a smaller quick profit as well as larger profits long term profit. This combination of selling short and long, banks a continual profit for you monthly.

Your order would look like this:

Buy:
.09500

Sell:
.25 Ethereum at .09600
.25 Ethereum at .09800
.25 Ethereum at .10000
.25 Ethereum at .10200

Get started today. Set up your Coinbase account by clicking the button below and get a $10 Bonus when you deposit as little as $100.

You’re Welcome 🙂

 

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