Trade

Expert Tips: Common Practices Before Entering a Trade

Trading
• Ali Martinez
March 28, 2021

Despite the popular belief that trading is easy, the truth of the matter is that it takes a lot of practice and know-how to become a successful trader. There is a widely known statistic that says that 90% of traders are not profitable. 

So, over time, 80% of those who enter into this profession lose money, 10% usually break even, and 10% percent are able to generate returns from the price action in the markets.

For this reason, Digitex is doing everything in its power to help traders around the world reach their financial goals. This time, we want to provide you with different practices that you can employ before entering a trade to minimize losses and maximize profits.

The Power of Knowledge

First and foremost, it is very important to have a clear picture of what you are getting into. In trading as any other profession, education is what separates those who are able to reach their goals from those who do not.

It is essential for traders to not only be aware of the developments around the market and the cryptocurrency of their choice but also focus on learning something new every day. Technical indicators can provide guidance regarding what the future may hold for a given digital asset, but on-chain metrics can help identify what the so-called “market makers” are doing.

With the vast amount of data that blockchain technology provides to investors, it is important to consider diving into these metrics before entering a trade.

Protect Your Capital

People are usually optimistic and tend to discourage the potential of adverse market conditions. But with the unpredictability of the cryptocurrency market, wild price movements can be triggered at any second. Now that the market is in the midst of an extremely bullish cycle, having capital to deploy is a must.

Before going long or short on any cryptocurrency, it is critical to assess the risks that are involved. Having a good idea of where to place your stop-loss order before even thinking about the profits, is a great way to stay afloat in such a volatile market.

As a rule of thumb, most retail investors risk no more than 2% of their investment capital on any single trade, and hedge fund managers usually risk less than this amount, according to Investopedia.

Keep Calm and Stick to Your Plan

The final and most important practice to have in mind before entering any trade is to stay relaxed and have a solid plan of action. If you were supposed to enter a trade at a certain price and you missed your entry point, don’t worry about it. A new opportunity will likely present itself in the near future.

Chasing trades is one of the best ways to put your capital at risk. Therefore, staying true to your trading plan and maintaining a solid risk management strategy will help you minimize your losses.

Remember that you don’t need to win every trade. Indeed, many traders, including 45-year trading veteran Peter Brandt, only win 50% to 60% of their trades. However, they make sure that their winning trades are bigger than what they lose by implementing stop-losses.

So before you enter into your next trade make sure to be aware of what is happening in the market, prioritize your stop-loss order over anything else, avoid trading when you’re not in the right mind frame, and keep calm.

Digitex’s zero-fee model introduces a unique opportunity to try out new scalping strategies on Bitcoin futures that wouldn’t be profitable on other exchanges. So if you’re ready to start making money on bitcoin futures whether the market goes up or down, sign up for our zero-fee trading platform now.

March 28, 2021
Trading

Expert Tips: Common Practices Before Entering a Trade

Ali Martinez
Trade

Despite the popular belief that trading is easy, the truth of the matter is that it takes a lot of practice and know-how to become a successful trader. There is a widely known statistic that says that 90% of traders are not profitable. 

So, over time, 80% of those who enter into this profession lose money, 10% usually break even, and 10% percent are able to generate returns from the price action in the markets.

For this reason, Digitex is doing everything in its power to help traders around the world reach their financial goals. This time, we want to provide you with different practices that you can employ before entering a trade to minimize losses and maximize profits.

The Power of Knowledge

First and foremost, it is very important to have a clear picture of what you are getting into. In trading as any other profession, education is what separates those who are able to reach their goals from those who do not.

It is essential for traders to not only be aware of the developments around the market and the cryptocurrency of their choice but also focus on learning something new every day. Technical indicators can provide guidance regarding what the future may hold for a given digital asset, but on-chain metrics can help identify what the so-called “market makers” are doing.

With the vast amount of data that blockchain technology provides to investors, it is important to consider diving into these metrics before entering a trade.

Protect Your Capital

People are usually optimistic and tend to discourage the potential of adverse market conditions. But with the unpredictability of the cryptocurrency market, wild price movements can be triggered at any second. Now that the market is in the midst of an extremely bullish cycle, having capital to deploy is a must.

Before going long or short on any cryptocurrency, it is critical to assess the risks that are involved. Having a good idea of where to place your stop-loss order before even thinking about the profits, is a great way to stay afloat in such a volatile market.

As a rule of thumb, most retail investors risk no more than 2% of their investment capital on any single trade, and hedge fund managers usually risk less than this amount, according to Investopedia.

Keep Calm and Stick to Your Plan

The final and most important practice to have in mind before entering any trade is to stay relaxed and have a solid plan of action. If you were supposed to enter a trade at a certain price and you missed your entry point, don’t worry about it. A new opportunity will likely present itself in the near future.

Chasing trades is one of the best ways to put your capital at risk. Therefore, staying true to your trading plan and maintaining a solid risk management strategy will help you minimize your losses.

Remember that you don’t need to win every trade. Indeed, many traders, including 45-year trading veteran Peter Brandt, only win 50% to 60% of their trades. However, they make sure that their winning trades are bigger than what they lose by implementing stop-losses.

So before you enter into your next trade make sure to be aware of what is happening in the market, prioritize your stop-loss order over anything else, avoid trading when you’re not in the right mind frame, and keep calm.

Digitex’s zero-fee model introduces a unique opportunity to try out new scalping strategies on Bitcoin futures that wouldn’t be profitable on other exchanges. So if you’re ready to start making money on bitcoin futures whether the market goes up or down, sign up for our zero-fee trading platform now.

Latest News

Trade

Learn to Trade Profitably with Trader Cobb

Trading
• Digitex
August 10, 2020

If you read Fridays blog post, then youll know we have a stellar lineup of educational content coming for the DFE. Trading profitably is both an art and a science, but anyone can learn it, given the right tools. Here, we dive into whats coming up starting this week, from pro trader and educator, Trader Cobb. Read to the end to also find out whats coming up this week on the DFE.

Craig Cobb, better known as Trader Cobb, is one of the best-known pro traders and crypto trading educators in the business. He has over 15 years of experience, having started out in the traditional markets trading forex pairs, stocks, bonds, and commodities.

For the last three years, he’s been fully dedicated to cryptocurrency trading. With over 10,000 students around the world, there is nobody better to help you unravel the mysteries of scalp trading on the Digitex Futures exchange.

Over the course of four separate webinar sessions, Craig will teach you the tools he has learned to use over his 15-year trading career. These tools will help you increase your chances of trading success, decrease your loss risk, and take emotions out of the process so you’ll trade based on facts.

You’ll receive a complete trading strategy with a checklist to follow as you go. You’ll also get a trading business plan. Craig is a firm believer that trading isn’t just about charts – you should treat it as you would a business. So you’ll also get a trading business plan to help you as you transition from developing your trading hobby into a business.

How to Join

The best news is that joining Craig’s webinars is completely free! There are only two simple prerequisites. Firstly, you’ll need to have an account on the Digitex Futures exchange so that you can follow along with the webinar instructions. Secondly, you should sign up for the webinar on the dedicated registration page.

That’s it! All you then need to do is turn up on the dates, and watch and learn as Craig unveils his trading strategy over four separate sessions.

Webinar Schedule of Events

The full schedule of events is as follows. Please note that as Craig is broadcasting from his home in Australia, the timezones given are in Australian Eastern Standard Time (AEST). We’ve provided times here in UTC too.

Part 1: High Probability

Thursday, August 13, 2020, 9 pm AEST/11 am UTC

Every building needs solid foundations, and your trading business and plan need the same. This chapter will help you to plan out the type of trader you will become and provide you the blueprint that you will create with Craig’s guidance to move forward through the chapters. Trading is a business and we need to plan it!

Part 2: Master Price Action

Thursday, August 20, 2020, 9 pm AEST/11 am UTC

When you bake a cake you need to know the ingredients for that cake, you don’t need to know about cooking a lasagna. Craig will focus you on the ingredients needed to bake the perfect trade – process-driven, outcome-based, and zero emotions. You’ve got that here.

Part 3: The Crypto Cradle Strategy

Thursday, August 27, 2020, 9 pm AEST/11 am UTC

This is what most people have been waiting for! In parts 1 and 2, you have set out to plan the type of trader you wish to be and learned the ingredients to be ready for this part 3.

You’re now ready to learn and use the “Crypto Cradle” strategy; arguably the most common trading set up out there.

Part 4: Management of Risk, Mindset, and Progress

Thursday, September 3, 2020, 9 pm AEST/11 am UTC

You have the strategy from the first three webinar episodes of this series, you have the scans and watch list videos, and now it’s about keeping your headstrong and keeping the account growing!

Especially if you’re new to trading or scalping, you don’t want to miss this series. Make sure you sign up before the start time to secure your slot and share it with any of your friends who want to learn more about profitable scalp trading on the DFE!

What’s Coming Up This Week on the DFE

Along with Craig’s webinars, we have some much-anticipated updates to the DFE being rolled out this week. First up, the API will be launched on mainnet, allowing algorithmic traders to plug in their bots and trade automatically for the first time. We know that the API has been in demand ever since we started onboarding traders to the mainnet, and we’re looking forward to the further injection of liquidity that it will bring to the DFE. Watch the blog for a video from Cryptrader explaining how to use it.

Secondly, we explained last week that we are closing the Digitex Treasury and replacing it with the DGTX Converter. The Converter will allow users to deposit a variety of cryptocurrencies, including BTC, ETH, and USDT, onto the DFE and convert them to DGTX so they can start trading with zero fees.

The development team has been working extremely hard to bring this to life, and we’re pleased to confirm it will go live on the testnet later this week. As soon as it’s proving to work without any issue, we will migrate it to the mainnet.

Keep watching the blog for more updates about DFE features and functionality, as they happen. And if you want more information about what to expect, check out our recently published roadmap, which lays out everything still to come in 2020. Stay tuned!

August 10, 2020
Trading

Learn to Trade Profitably with Trader Cobb

Digitex
Trade

If you read Fridays blog post, then youll know we have a stellar lineup of educational content coming for the DFE. Trading profitably is both an art and a science, but anyone can learn it, given the right tools. Here, we dive into whats coming up starting this week, from pro trader and educator, Trader Cobb. Read to the end to also find out whats coming up this week on the DFE.

Craig Cobb, better known as Trader Cobb, is one of the best-known pro traders and crypto trading educators in the business. He has over 15 years of experience, having started out in the traditional markets trading forex pairs, stocks, bonds, and commodities.

For the last three years, he’s been fully dedicated to cryptocurrency trading. With over 10,000 students around the world, there is nobody better to help you unravel the mysteries of scalp trading on the Digitex Futures exchange.

Over the course of four separate webinar sessions, Craig will teach you the tools he has learned to use over his 15-year trading career. These tools will help you increase your chances of trading success, decrease your loss risk, and take emotions out of the process so you’ll trade based on facts.

You’ll receive a complete trading strategy with a checklist to follow as you go. You’ll also get a trading business plan. Craig is a firm believer that trading isn’t just about charts – you should treat it as you would a business. So you’ll also get a trading business plan to help you as you transition from developing your trading hobby into a business.

How to Join

The best news is that joining Craig’s webinars is completely free! There are only two simple prerequisites. Firstly, you’ll need to have an account on the Digitex Futures exchange so that you can follow along with the webinar instructions. Secondly, you should sign up for the webinar on the dedicated registration page.

That’s it! All you then need to do is turn up on the dates, and watch and learn as Craig unveils his trading strategy over four separate sessions.

Webinar Schedule of Events

The full schedule of events is as follows. Please note that as Craig is broadcasting from his home in Australia, the timezones given are in Australian Eastern Standard Time (AEST). We’ve provided times here in UTC too.

Part 1: High Probability

Thursday, August 13, 2020, 9 pm AEST/11 am UTC

Every building needs solid foundations, and your trading business and plan need the same. This chapter will help you to plan out the type of trader you will become and provide you the blueprint that you will create with Craig’s guidance to move forward through the chapters. Trading is a business and we need to plan it!

Part 2: Master Price Action

Thursday, August 20, 2020, 9 pm AEST/11 am UTC

When you bake a cake you need to know the ingredients for that cake, you don’t need to know about cooking a lasagna. Craig will focus you on the ingredients needed to bake the perfect trade – process-driven, outcome-based, and zero emotions. You’ve got that here.

Part 3: The Crypto Cradle Strategy

Thursday, August 27, 2020, 9 pm AEST/11 am UTC

This is what most people have been waiting for! In parts 1 and 2, you have set out to plan the type of trader you wish to be and learned the ingredients to be ready for this part 3.

You’re now ready to learn and use the “Crypto Cradle” strategy; arguably the most common trading set up out there.

Part 4: Management of Risk, Mindset, and Progress

Thursday, September 3, 2020, 9 pm AEST/11 am UTC

You have the strategy from the first three webinar episodes of this series, you have the scans and watch list videos, and now it’s about keeping your headstrong and keeping the account growing!

Especially if you’re new to trading or scalping, you don’t want to miss this series. Make sure you sign up before the start time to secure your slot and share it with any of your friends who want to learn more about profitable scalp trading on the DFE!

What’s Coming Up This Week on the DFE

Along with Craig’s webinars, we have some much-anticipated updates to the DFE being rolled out this week. First up, the API will be launched on mainnet, allowing algorithmic traders to plug in their bots and trade automatically for the first time. We know that the API has been in demand ever since we started onboarding traders to the mainnet, and we’re looking forward to the further injection of liquidity that it will bring to the DFE. Watch the blog for a video from Cryptrader explaining how to use it.

Secondly, we explained last week that we are closing the Digitex Treasury and replacing it with the DGTX Converter. The Converter will allow users to deposit a variety of cryptocurrencies, including BTC, ETH, and USDT, onto the DFE and convert them to DGTX so they can start trading with zero fees.

The development team has been working extremely hard to bring this to life, and we’re pleased to confirm it will go live on the testnet later this week. As soon as it’s proving to work without any issue, we will migrate it to the mainnet.

Keep watching the blog for more updates about DFE features and functionality, as they happen. And if you want more information about what to expect, check out our recently published roadmap, which lays out everything still to come in 2020. Stay tuned!

Latest News

Top 5 Podcasts to Learn More About Cryptocurrency 1

Top 5 Podcasts to Learn More About Cryptocurrency

Crypto Industry
Digitex Futures
• Christina Comben
February 5, 2019

Many people coming into the cryptocurrency space are anxious to learn more. Even those who’ve fallen down the rabbit hole long ago find it’s a continuous learning process. Luckily, much has changed from back in the day when resources and information about cryptos were hard to come by. Today, there are plenty of excellent blogs, platforms, and podcasts to help you learn more. Here’s our pick of the top five. Continue reading

February 5, 2019
Crypto Industry
Digitex Futures

Top 5 Podcasts to Learn More About Cryptocurrency

Christina Comben
Top 5 Podcasts to Learn More About Cryptocurrency 2

Many people coming into the cryptocurrency space are anxious to learn more. Even those who’ve fallen down the rabbit hole long ago find it’s a continuous learning process. Luckily, much has changed from back in the day when resources and information about cryptos were hard to come by. Today, there are plenty of excellent blogs, platforms, and podcasts to help you learn more. Here’s our pick of the top five. Continue reading

Latest News