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Cryptocurrency Day Trading 2020 in Malaysia – Tutorials and Brokers

Cryptocurrency day trading has soared in recent months. Exaggeration and high volume trading in cryptocurrency trading suits very well. Here we provide some tips for crypto day trading, including information on strategies, software and bot trading – as well as things new traders need to know, such as taxes or regulations in certain markets.

We also list the top crypto brokers of fall 2020 today showing how to compare brokers to find the best one for you.

How To Sell Cryptocurrency

Afraid of losing? Here is a quick plan to get you selling cryptocurrency fast;

Decide if you want to own a cryptocurrency, or just have a hunch that the value will go up or down.

If you want to own currency, you need an exchange – Try Hodly – It’s a simple user friendly app
If you want to speculate on prices, you need a broker. Check the list above or use the broker page for the full list.

2. Fund your account

3.Buy the Cryptocurrency you want, or open a trade at that price.

Congratulations, you are now a cryptocurrency trader! Remember, you can carry out buying or selling cryptocurrencies in the demo account of the broker. Unfortunately, you cannot practice the exchange.

Cryptocurrency Day Trading 2020 in Malaysia – Tutorials and Brokers

We also list the top crypto brokers of fall 2020 today showing how to compare brokers to find the best one for you.

How To Sell Cryptocurrency

Afraid of losing? Here is a quick plan to get you selling cryptocurrency fast;

Decide if you want to own a cryptocurrency, or just have a hunch that the value will go up or down.

If you want to own currency, you need an exchange – Try Hodly – It’s a simple user friendly app
If you want to speculate on prices, you need a broker. Check the list above or use the broker page for the full list.

2. Fund your account

3.Buy the Cryptocurrency you want, or open a trade at that price.

Crypto trading generally revolves around speculating on the price, and not owning the actual coins. For this reason, brokers offering forex and CFDs are generally an easier introduction for beginners, than the alternative of buying real currency through an exchange.ri. That means identifying them before they make their big move will be what separates the profitable traders from the rest. Before you buy, always check for trading software reviews.

In addition, look for the following capabilities of your software:

Market scanning – The program should scan the market for potential opportunities and draw your attention to interesting stocks.
Marking software – This will help you break the market state, so look for software that makes their charts user-friendly, or even offers customisability options.
Portfolio Tracking – This will help you keep track of all previous trades, help you identify mistakes and hone your strategy.
Backtesting – This software will allow you to backtest your trading system against historical data, giving you an idea of what and how successful your strategy is, before you risk real capital.

Other Instruments & Markets

On top of the software for the above instruments, you can also get your hands on the following:

Commodity trading software – There is a rich supply of international trading software for the commodity market. Furthermore, you can get your hands on some free online trading and charting software around.
Bitcoin day trading software – As the market is still evolving, there are new options emerging every month. You will also find some of the best trading simulator software, which may be free.
Emini trading software – The Emini selection continues to grow, so you can choose between generic systems, or specialist Emini software. You will also find a good selection of scalping software, with many reviews on the software forums.
Penny stock software – There is healthy competition, so if you are looking for where to buy the best trading software for penny stocks, Google will quickly answer all your prayers in abundance. You can also find easy to buy and sell signal software for cent shares.
Software for NSE – You can get free trading software for the Indian market, or you can choose from a growing selection.
Software for cryptocurrency – You can choose between robots, prediction software, or you can get many manual options. You can also get your hands on virtual money management software that is useful for keeping your online wallet weight.

Day trading journal software allows you to keep a log book online. Why do you want that? Because they keep a detailed account of all your previous trades. They record instruments, dates, prices, entry, and exit points. This allows you to not only fill out your tax return easily, but also to analyze your recent trading performance. It can help you identify mistakes, allowing you to trade smarter next time. This makes it some of the most important intraday trading software available.

Popular Software

Make sure that when you compare software, you check the reviews first. Even those that claim to be one of the ’10 day trading software’, may have some serious shortcomings. Also remember, the easiest trading software is not necessarily the best. If it’s as simple as it being less than the requirements outlined above, your bottom line may suffer.

Having said that, consider the popular and good options below:

MetaTrader – Market leading multi-functional trading platform. Integrates with many major brokers.
TradingView – A leading charting package with many technical analysis tools and the ability to build and repeat test strategies. Can also automate trades, and copy trades.
Linux Software – Considered some of the fastest realtime trading software around.
JSE Software – Considered one of the best day trading software available.
MCX analysis software – One of Tim Sykes’ highly recommended trading software systems.
TD Ameritrade – Some of the best live and virtual day trading software available, scoring especially high in US reviews.
Etrade Software – Great software, fast, reliable and used by traders at all levels.
Fairies

Bots

If you’ve got a strategy that works, then a cryptocurrency trading robot might be worth considering. Once you have programmed your strategy, the bot will be able to work, automatically executing trades when the pre-defined criteria have been met. There are two benefits to this.

First, it will save you serious time. You don’t have to stare at the charts all day, looking for opportunities. The speed of trade execution should also be improved as no manual input is required.

Second, automated software allows you to trade across multiple currencies and assets at the same time. That means bigger profit potential and all without you having to do any heavy lifting.

Risks

Having said that, boats are not all plain sailing. If you want to avoid losing your profits to computer crashes and unexpected market events then you still need to monitor your bot.

They can also be expensive. While there are many options such as BTC Robot that offer a free 60-day trial, you will usually be charged a monthly subscription fee that will eat into your profits. They can also be expensive to set up if you have to pay someone to program your bot. Also, you have to pay to update your bot when the market changes.

So, while bots can help increase your bottom line cryptocurrency profits, there is no free ride in life and you need to be aware of the risks. Perhaps then, they are the best assets when you already have a solid and effective strategy, which can only be done automatically.

Education

The most useful cryptocurrency trading tutorial you can do is the one you can give yourself, with a demo account. First, you’ll get a chance to talk about the potential of your brokerage and platform before you buy.

Second, they are the perfect place to correct mistakes and develop your craft. You will usually be trading with simulated money, so mistakes will not cost you your hard-earned capital. Once you have tested your strategy and tightened any cracks, then start running trades with real money.

Online you can also find various cryptocurrency intraday trading courses, plus various books and ebooks. The more information you absorb the better you will be, and the greater the chance you will be able to maintain an advantage in the market.

Key points

Think of this as your guide to day trading cryptocurrency and you will avoid most of the hurdles many traders fall into. When choosing your broker and platform, consider their ease of use, security and fee structure. There are several strategies you can use for cryptocurrency trading in 2017. Whichever you choose, make sure technical analysis and news play an important role. Finally, be aware of regional differences in regulations and taxes, you don’t want to lose profits from unexpected regulations.