2019-6-10 16:13 |
The Issue With Crypto Trading
For most, crypto asset trading is an arduous, cumbersome task. There are thousands of technical indicators, all of which are different, and just as many cryptocurrencies, most of which are illiquid, garbage, and not worth your time. Not only is trading time-consuming and difficult, but most, a purported 90% of speculators, lose money at the end of the day. In fact, a study has suggested the monkeys did just as good of a job trading stocks as the average human did. Yet, there’s hope in the form of experts and services that can help you.
The thing is, while you may not have time to pore over Bitcoin charts for hours on end, trying to find the next opportunity to scalp a relatively measly 5% profit, there are services that can help you in your journey. And WhalesTrader, a newfangled cryptocurrency trading platform, is looking to offer its users “cutting edge tools to eliminate learning time and increase your profits.” Let’s take a closer look.
Meet WhalesTraderWhalesTrader, run by chief executive Gray Spark (trader, Youtuber, and the founder of Arabfolio Capital), is a multi-faceted platform that is focused on giving its users the ability to uncover the trading practices of market whales, large cryptocurrency holders that can move the market with a few clicks.
WhalesTrader’s platform act as a layer on top of Binance, Poloniex, and HitBTC. The platform, which connects to the aforementioned exchanges’ API, can generate buy signals and mark sell signals on short-term time frames and long-term frames. The company explains that if you use its analysis and indicators, you could see $100 swell into $4,420 over the course of six months, compared to just $143 with simple Ichimoku Cloud analysis. WhalesTrader also acts as an automated analysis tool, delving into order books and capital flows to determine where best to enter and close positions, trading ranges for a crypto asset, and when to avoid trading due to manipulation by whales and trading bots/algorithms. As the website further elaborates:
“Volume profile has all the tools you are used to analyzing how the total volume, Buy & Sell trades were distributed over any period of time to identify reliable price zones and liquidity patterns, such as absorption, exhaustion, and pullbacks.”
WhalesTrader is also much more functional than many base layer exchange interfaces. It gives the ability for traders to “iceberg” their orders, distributing large entries and exits over a number of smaller orders to prevent drastic movements in price due to the lack of liquidity in certain crypto markets. And, the platform itself is built for “light speed trading”, utilizing mouse gestures, like one-click trading, to increase the speed of trading by many times.
And, to put a cherry on top, a WhalesTrader premium subscription also gives users the chance to access a VIP Telegram Channel to get signals and daily updates from a community of traders and analysts, and a chance to get direct alerts from a Telegram bot that sends out messages when a “Blackwhale is manipulating coins.”
AcademyNot only does WhalesTrader have a trading platform, but an educational portal too, fittingly dubbed “Academy”. Offered in English and Arabic, WhalesTrader will teach you how to use their platform, the fundamental concepts of cryptocurrencies and blockchain, how to purchase Bitcoin, the best risk management practices, and ways to analyze volumes and technical indicators to build solid trading strategies. Academy is offered in three stages: fish, dolphin, and whale. The importance of Academy is described by WhalesTrader:
“It’s crucial that if you are starting in cryptocurrency trading, you need to learn and build a strong base of knowledge before starting. This will help you in making your journey easy & profitable in the future.”
Indeed, starting trading without a proper strategy and in-depth knowledge of technical indicators and trends in tow is detrimental, as by then, your trades would be nothing more than gambles.
In a market such as cryptocurrency, WhalesTrader provides investors with an edge, which allows them to enter the 10% of traders that actually make sustainable profit.
Title Image Courtesy of WhalesTraderThe post WhalesTrader: How Does This Platform Help Crypto Traders? appeared first on Ethereum World News.
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