Journey to CFD crypto trading - Episode 002 - Trading with my Android
Oftenly trades will spend a lot of time infront of computer screen. But today, the easiest way to access with much information from around the world. This also including, trading online with mobile phones. Today I'm going to talk about MT4 mobile version I use on my trading.
I head to Google Playstore and find MetaTrader4, downloaded and installed it. As for the progress, I don't wanna mention here too much. I presume we already know how to install an app. Let's go on with how to setup.
After installation, login for the first time, this is what I see on the screen. Since I already created an account earlier from my PC, all I gotta do is login an existing account. So I tap on that.
The broker I chosen yesterday was JAFX, so I key in the broker name, and MT4 searched the broker for me.
After I selected the demo account server I created account yesterday, I can input my user ID and Password.
Once logged in, I can see many trading instrument bleeping on the screen. I head to the upper right corner and tap on the + sign
Here's a list of different financial instruments I can select to trade. Since I'm talking about crypto trading, I selected cryptos
All available crypto pairs will be shown here. I carefully selected all cryptos denominated USD for the ease of conversion. Do take note, from yesterday's introduction I've mentioned CFD is not a real buying/selling of the real product. It's only a contract executed with fiat currency. In this case, cryptos had become "commodities" instead.
After all the desired trading instrument shown on marketwatch screen, select the instrument I wished to trade, long tap on that pair and a pop up window will be shown. Select OPEN CHART to show the chart.
The chart is defaulted as Japanese candlesticks chart. I have added RSI and MACD as my study indicator. To execute a position in MT4 is easy, all I gotta do is press the + button on the upper right corner.
Market execution console is shown, I can select to buy or sell. Again I need to remember, this is CFD, there's no physical buying/selling of the asset. I'm only buying a contract. Select the lot size, press the buy button and we have a deal.
And the position will be ready at the P&L screen.
Episode 1 of crypto trading diary
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great post,but i am not sure if it is just a client to an exchabge, or does it support multiple exchanges?
There's no exchange would offer this kind of service. It's CFD, meaning buying contracts instead of the crypto itself. You don't get the coins in your wallet. It's a bucket shop. One thing good about using these platforms are, instant transaction(of course because we're not buying the real thing). The charting tools are very advance and convenient. Price feed are awesome BUT, there's no actual volume in their transactions. So once again, if you're not into gambling, don't deal with these brokers.
Posted using Partiko Android
hmmm... interesting. no hassle with keeping the coins secure
But the risk of broker close shop. It's not decentralized yo.
Posted using Partiko Android
介绍的好详细，清楚。
Posted using Partiko Android
哦。谢谢。不好意思，暂时没有中文版。脑子转不过来因为一直都是用英文学习的。
Posted using Partiko Android
没关系
Posted using Partiko Android
你今天过的开心吗？你好！家中可愛的寵物照想要跟大家分享嗎？或是出去玩拍到一些可愛的動物，別忘了到@dpet分享，可以得到@dpet的獎勵喔！倘若你想让我隐形，请回复“取消”。
好久没玩demo的帐号了，这个jafx好像蛮不错～
绝对有问题。连地址都没有的公司。反正用来做实验和写程式，不管了。唔理好丑，但求就手。
Posted using Partiko Android
嗯，做实验还ok，如果玩真的，就另当别论～
I am interested in EOS.
I am interested in making profit. So, be it EOS or any instrument, I will trade base on market study. There are very good traders in Japan as well, but I have absolutely no idea how to use those method, like Ichimoku Kinko Hyo, until today they are bunch of clouds to me. May be I will take this opportunity to start a series of indicator studying. Who knows, Japanese invented BTC, may be we need to trade it in Japanese way with Japanese indicator? LOL
That's the beauty of CFDs, you can trade practically any market - https://www.independentinvestor.com/cfd/markets/. So many possibilities, stocks, indices, forex, crypto, etc. I guess, that's why CFD's are so popular with retail traders now, especially with all the hype around crypto.