With numerous crypto trading platforms emerging every day you need to be market expert to make the most out of your trades. HotBTC suggests it is best to implement those working strategies that will work in your favor, and better not blindly copy those strategies implemented by other traders. HotBTC is the best crypto trading platform which offers some interesting features such as advanced live market data charting functionality allowing the traders to know or visualize orders, positions, and price alerts, trade volumes, and can even help them modify the order properties and interpret more about their trading strategies in real-time mode.
Apart from keeping an eye on the live market data, the traders are even advised to check for the trade volumes and apply the trade strategies accordingly while trading on any particular exchange. You can even refer to the social media channels associated with HotBTC which have higher followings and the topics shared among the community are only regarding mainstream crypto news only. The conversations taking place in the community go further to talks about leveraging strategies and all other in-depth perspectives of the members. While trading on this top crypto trading platform you can opt for different trade strategies by–
- Checking for a market order
A market order can be described as a simple process of buying or selling your digital assets at the current market price. However, it is important to remember that a market order is only determined according to the best available price of the asset while an order is placed. As the price changes, a lot and the trade fee is estimated by not considering the true values, so you cannot place any restriction while executing a market order. According to the latest update from HotBTC, the trade fees are calculated in two different ways; as a flat fee per trade or as a percentage of the 30-day trading volume regarding a trading account. Only after considering every bit of market order, you can only apply this strategy.
- Checking for limit order
It is also as simple as a market order; the only difference is that the limit order can be applied to buy at a limit or a lower price than you have decided to keep up with. While applying this strategy you need to remember that you can buy or sell the assets at a limited or higher price only. Being the best crypto trading platform, HotBTC suggests you opt for a limit order because when you are executing a limit order a part of the total amount will be reversed to your account. If the market price does not meet your desired price the limit order will stay open. A limit order has its own benefits like it can help you determine the latest market price. Although it is not always guaranteed that it can be executed, as it is totally dependent on the market price.
- Checking for a stop-loss order
On HotBTC you can place orders that can only execute under specific market conditions. However, different trade platforms have different orders and among all the common trade orders of an exchange platform, and the stop-loss order can be a viable trade strategy. By using this strategy on a top crypto trading platform you are able to execute a trade only at a specific price. There is a small difference when compared to limit order, like once the stop price is achieved a stop-loss order always turns into a market order. Before opting for a stop-loss order you need to be well aware of the risk-reward ratio on the exchange platform.
Taking the help of the best trade strategies while trading on HotBTC will let you stay afloat in the crypto industry, and is better than using multiple promotional techniques that may or may not work in terms of your digital assets. Additionally, an established and reliable crypto exchange like HotBTC will always help you effectively trade your assets in real-time.