We just covered Proper Risk Management, and this is the part two for crypto trading. The day trading cryptocurrency strategy we have developed is used in our signal group. We recommend you controlling your emotions, using no more than 3% of your position on any one trade most of the time, and establishing a stop-loss (or stop-limit order).
We want you to avoid liquidation, whether you are in our signal group or not. So, for most traders, they need to avoid using bitmex, because they are trading against you and it requires experience to use their platform. For those that have experience in bitcoin trading, click our link to sign-up here.
Instead, you should sign-up for BitSeven, here, or Bybit, here. Those two have their pros and cons, but are much much better than bitmex when it comes to liquidations, especially BitSeven. Check out the full review of the exchanges, here. Below are summaries of the exchanges.
Bitmex is a perpetual trading platform that allows you to trade cryptocurrencies with a low leverage (10X and under) for a long-term. Anything over that and it’s a lot easier to liquidate you. We have our bitmex signals group which you can join here.
BitSeven allows contracts only up to 10 days. They allow you to have anti-liquidation trades unlike Bybit and bitmex. They also are the only exchange that allow you to atomic swap between bitcoin and other cryptos. They also are the simplest exchange to use of the three. Join here.
Bybit is like if Binance and Bitmex had a baby. No freezes during high volume trades unless using the mobile site and a great looking exchange. Join here.