Category: 3. How to place a trade?

The purpose of this guide is to provide you with enough information to make your first cryptocurrency trade. It is intentionally simplistic because trading options are so wide and varied. As explained Spot Trading relates to the price on-the-spot. There is another dimension to trading called Derivatives. Derivatives enable you to trade on a derived…

At this point you’ve learned the simplest way to purchase Bitcoin with FIAT on Coinbase and Binance, using a Market Order. You’ve also explored a Classic Trading Interface on Binance that introduces more trading options, such as Limit Orders and the process for selling. As you now own Bitcoin you can use the “Convert” to…

If your trade has been successful, and you want to realise the profit, you need to close the trade. This process is simply buying in reverse. On Coinbase or Binance convert you simply sell at the current Spot price. You can sell some or all of the BTC that you purchased. You’ll see a confirmation…

Having already looked at Market Orders, we’ll now place a Limit Order. Instead of simply executing a trade at the current market place, we’re now specifying a price and an amount that we want to be our entry point.  As explained in our article on Trading Strategy, an entry point is a key component of…

As you’ll see from the Binance Trading menu, the next option down is Classic Trading. This offers a more traditional trading interface and broader range of Spot options, alongside additional Market Orders types which we’ll explore in the walk-through. Immediately when you move to the Classic Trading menu you can see that the interface is much…

Coinbase simplifies the process of placing a Market Order to the extent that it doesn’t even really give you any other option. You have a Buy button, which takes you to a window to execute a Market Order – though this isn’t how Coinbase describe the process as that specifically remove any trading terminology to…

Exchanges offer a wide range of complex ways to trade which will be covered in later articles, but for anyone just starting out, are inappropriate and will likely cause confusion. So we’ll simply focus on the simplest trading option – Spot Trading. Spot Trading and Spot Exchanges literally enable trading on-the-spot. You simply accept the available…

What you’ll learn The basic options for executing a trade The terminology of trading execution The input options for making a trade How to combine trading with strategy How to close out a trade You might assume that learning how to actually place a cryptocurrency trade would be among the first things included in our…