Bitcoin

[Anonymous]

I have US Stocks Data and ASX data as you have suggested in the course. I have just double checked and i have 188 days remaining, so it is still valid?

[Anonymous]

apologies, I don’t have historical data for “Futures and Cash markets”, along with “Forex”… should i subscribe to these??

[TrentRothall]

I am not subscribed them them Peter, You probably only need to if you want the data for your own interests

[LachlanPhillips]

Hi there,

I do not recommend to trade BTC, like most of the asset classes. BTC and other cryptos is not regulated market; so lot of intresting staff going on.Another thing most of the crypto markets have different price for the same product (for example BTC) in IG markets or Axitrader in Australia have different price than for example Japan, Korea etc….
Very often the price difference 20-30%, so it was possible to do arbitrage….Also cryptos trading 24/365.25; trading around continusly…
If You take reasonable money from the smaller brokers and CFD providers (lets say 30K); they will make more diffucult for You to trade them.So in your platfrom the spread getting wider and they do not execute You order, very often. If You give them a call, they giving You a price with very wide spread….
And if is not enough, to lose your interest:

Little help from the CFD provider:
“Changes to our overnight funding rates on cryptocurrencies
Dear Mr. Somogyi

We have reviewed the overnight funding charges that we apply to client positions on our cryptocurrency markets – Bitcoin, Bitcoin Cash, Bitcoin Gold and Ether.

We will therefore be updating our overnight funding rate to 0.068% for all cryptocurrency markets (25% per annum). Clients with short positions will now receive the overnight funding rate, rather than pay it. In addition, a 7.5% per-annum IG admin fee will also apply.
What does this mean for my cryptocurrency positions?
• If you are long, you will pay an overnight funding charge of 0.089% a day (32.5% per annum).
• If you are short, you will receive an overnight funding charge of 0.048% a day (17.5% per annum).
This change will be effective from 29 December.

We will review our overnight funding charges regularly, and keep our website and contract details updated with the latest rates.

As a reminder, due to the various risks and complexity involved in trading underlying cryptocurrencies, there’s a limit to the total amount of physical cryptocurrency we can hold as a business. We therefore need to reflect this by limiting the exposure that each client is allowed to maintain through CFDs. This limit is currently £250,000 notional (approx. A$430,000 as of 22/12/17) per client, across all cryptocurrency holdings. Any client with a notional size above this limit is at risk of having their cryptocurrency positions reduced.

The launch of the Bitcoin futures market may mean that we can increase these limits. We should be in a position to offer more liquidity on cryptocurrencies to our clients in January, but we still expect to have restrictions in place for much of the time.
We’re here to help
If you have any questions about this or need help with your account, our highly trained customer service team is here to assist you. Please email us at [email protected]. Alternatively, call us on 1800 601 734 and we’ll be happy to help.

Kind regards

IG

T 1800 601 734
E [email protected]

IG.com.au”

I sold 90% of my cryptos last year september between this year January.

I believe the next 3-15 months the crypto market going to hit the bottom and around middle of 2020 and end of that year start a next bull market.

https://www.kraken.com/ (is a reasonable online crypto broker; with a JP Morgan accounts) and 1 of the owner is a significant person in the crypto space, but i never store more than 20-30k worth of crypto with them….(broker risk, even they are 1 of the biggest in this space); but if You trade high volume the transaction cost very competitive….
You can store your crypto in the paper wallet, 1 of the safest solution or a trezor device:

https://wallet.trezor.io/

I highly recommend for You to spend some time and learn about that space before invest money in this sector.(extrem speculative, but the last 2 years with break out and new high strategy it was possible to make significant return with 5-10% of investment; other hand You cannot lose stops with most of the brokers, so the position sizing is extremly important!!!

Maybe we can talk about 12-15months time about that.

Hopefully You find some helpful information.
Tamas

[Anonymous]

Hi Tamas,

Thank you for the information!

It was extremely informative, thank you for taking the time to post.

Peter P

[Author]

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