Welcome to our interview with one of the Weekly Competition first-prize owners John. The goal of this short interview is to help beginner traders overcome the feelings of confusion and get started with crypto trading confidently, sharing knowledge as well as experience.
In this post, one of our Bexplus customer managers will introduce Jo, an operations manager and crypto trader from the UK. He has started trading cryptocurrencies since early 2016. He is enthusiastic about the technology and decentralization of crypto trading.
Let’s get started!
Bexplus: How did you start your trading career?
John: I knew about crypto for the first time after the birth of Bitcoin but it was not until 2017 that I got interested in the blockchain and Bitcoin and decided to join in this big party. And it is in 2019 that I found Bexplus and became the VIP of your platform.
Bexplus: How do you trade and how do you improve your trading skills?
John: I do grid trading now. I usually trade when the price is fluctuating. Then I can make a profit by placing a series of long and short orders at set intervals around a set price.
An example of Grid Trading: buy low and sell high in the price range.
To be honest, I often improve my trading skills from losing money. Mistakes taught me a lot. By analyzing what I did, I can know if I was too greedy to stop loss or if I was too hesitant to miss the chance. Now I always observe the market first and once the price is jumping into my expected position, I will enter the market and use the strategy of grid trading. I earned more after I applied this method to my later trades.
Bexplus: What tools do you use to help you trade better?
John: I like the chart on your platform. I know that the resource is from TradingView, which is a very useful tool. Sometimes I will apply the RSI indicator when I want to get further confirmation on a level to buy or sell. BTW, I like practicing in the trading simulator when I do not see a good chance.
Bexplus: What are the most important things you’ve learned for trading?
John: Never trade when you are emotional. Always keep rational like what happened to the price, is there related news or policy. Don't read too much analysis when you want to trade, since everyone has their own reasons but they are not responsible for your trading result. Always reflect on yourself.
Bexplus: What headlines surrounding cryptocurrency are you following closely these days?
John: I’m following the developments at the tech level. I care more about sustainable development rather than the FUD in the news.
Bexplus: Could you talk about your views on the future of Bitcoin?
John: First of all, I firmly believe that Bitcoin will exceed $100,000 in the future, and the greatest value of Bitcoin is not its price, but the fluctuation itself. As a trader, I pay more attention to the volatility of products. If all investment products are like gold or commodities, then they will lose the meaning of investment in this current information society. I think volatility itself is a force. And value investment and spread investment make Bitcoin more attractive.
Bexplus: What kinda trading advice would you share with other traders?
John: I think there is no universal trading method. Everyone should observe their own historical transactions and summarize what methods and mentality they have adopted when they were profitable, and what mentality they were when they lost money and what caused them. If you have never observed it, you can start with a simulated trading system to record every transaction you make and take it seriously. If you learn a new trading method, you can also test it through the simulation system. Only by trading can you find a method that suits you. For example, I currently tend to use grid trading because my time is relatively limited and I will not watch the market all the time. When the price fluctuates, I will go out to observe the market to see if it is a good time to trade.
Bexplus: What do you think are the advantages and disadvantages of trading on our platform?
John: Okay, let me talk about the advantages first. Bexplus transactions are quite fast. Unlike other exchanges, its market depth and market maker efficiency are very high, allowing me to focus on the transaction itself. Secondly, the bonus is such a good design. It gives me the ultimate ability to withstand potential risks. Many exchanges cannot achieve such a low forced liquidation point. Of course, it is more friendly to newcomers. Finally, trading on the App is convenient and professional.
There are some shortcomings. I think the overall community of the platform is not perfect and there is not much place for investors to communicate.
Bexplus: Do you have any suggestions for Bexplus services?
John: Well, I wonder if it is possible to add more trading pairs. Though most of the time I only trade BTC, I still want to try some popular altcoins such as Dogecoin. Besides, I hope to be able to customize some push services, which is conducive to my timely operation.
Bexplus: Thank you John for taking the time to chat with us and share your opinion and experience!
John: It’s my pleasure.
Below is the recent trading history shared by John:
If you want to learn more about crypto trading and have any questions, please feel free to send us an email via [email protected].