Bitcoin Trading 101 with Flood - WBD226
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 26 May 2020
⏱️ 72 minutes
🧾️ Download transcript
Summary
Location: Zoom Date: Friday 22nd May Role: Independent Trader
Despite being the best performing asset over the past decade, Bitcoin is an incredibly volatile asset and risky to trade. Outperforming the market is hard, and very few people manage to beat the strategy of buying and holding.
Unlike traditional markets, bitcoin markets are open 24/7/365, and traded on both regulated and unregulated exchanges. High leverage options and low liquidity altcoins make it easy for a newcomer to wipe out their trading accounts quickly.
While few traders are profitable, a large number of the Bitcoin community find the temptation to increase their bitcoin stack hard to resist. I always recommend against trading, especially if you are new to Bitcoin, but this doesn't stop people. So, if you want to try trading, what are the basic things you need to understand?
In this episode, I talk to Flood, an independent Bitcoin trader. We discuss the key things a newcomer to trading needs to know from which exchanges to use, trading strategies, leverage, finding your edge and the common mistakes.
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Transcript
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| 0:00.0 | Trading if it's going to be the majority of your income really is passively, you know, one of the hardest full time jobs that you can choose. |
| 0:14.0 | Hello there from Bedford, the Bitcoin capital of the world. |
| 0:19.0 | How are you all? |
| 0:20.0 | Welcome to the What Bitcoin did podcast. |
| 0:21.0 | Which is brought to you by Crackhan, the best place to buy, sell |
| 0:24.0 | and trade Bitcoin. I'm your host Peter McCormack, and today I've got an interview with |
| 0:28.0 | Flood looking at Bitcoin Trading 101, but before that I do have a message from my show sponsors. So first up today we have |
| 0:35.0 | crypto mining tools and now with the halving in the past I do have Scott back |
| 0:39.9 | on the show to tell you about a couple of things. So the halving has an impact on |
| 0:44.7 | mining profitability and Scott from crypto mining tools has a solution for |
| 0:48.6 | Bitcoin mining equipment owners looking to get a little bit more out of their |
| 0:51.6 | miners. Now I've told you before about |
| 0:53.7 | Scott's Bitcoin Mining calculator while Scott has recently launched a Bitcoin |
| 0:57.6 | mining hosting directory. If you need to move your miners to a more cost-effective |
| 1:01.5 | location due to the Harvin then head over to |
| 1:04.0 | crypto mining.tools to research hosting options available in your country and |
| 1:07.8 | around the world. Scott is also looking to add more hosting and co-location |
| 1:12.1 | providers to the hosting directory. |
| 1:14.0 | So if you own a mining farm, if you've got extra space and you want to get a field, reach out to |
| 1:18.0 | Scott's hosting partnership development guy, Shana Squires, he's available on telegram at Squires, which is |
| 1:22.8 | S-Q-I-R-E-S, or just use the contact form at cryptomining. |
| 1:27.8 | Also, have you checked out my new sponsor least authority yet? |
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