Hello all, I familiar and experienced with day trading futures market like NQ, ES, and CL. I would like to day/night trade BTCUSDT as well now on my weekends and at night time. Can I take short and long trades with BTCUSDT? Or is it a long only market. If you are day trading BTCUSDT can you please recommend a broker or/and trading platform for me you are using? Thank you very much.
Yes you can short BTC, there are multiple ways you can do it. Any crypto exchange who offers Margin (isolated or cross) - take Binance for example, or also any broker who offers crypto via CFD, then just trade the same way as forex - I use CedarFX. There are plenty of guides on both online
If you have the balls to go short that crap (that's a big if), short the CME futures (BTC). You'll make out like a bandit rolling your short position over as the thing is in crazy contango so you make money on the roll, buying the cheap front month selling the rich back month. Way to go bro: I did that on Gold back in the day (2011-2013). Worked like a charm. Careful though, that sh!t can zoom up 100% in no time lol
Thank you so much Swiss_cheese, So I just need to find some brokers how allow for shorting with Margin or crypto via CFD? Thank you
Hello @SimpleMeLike, CryptoAltum specializes in crypto CFD trading, feel free to contact our support team and we'll be happy to give you a demo of our systems support@cryptoaltum.com
When I did BTC & ETH trading, Bybit is what I used. Choose the leverage of your liking. I really like the inverse perp contracts since I just wanted to grow my BTC and ETH stacks rather than USDT. The peg stays pretty close, but funding rates sometimes spike hard.