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Galore Pro Bitcoin Trading Review

Galore pro daily Bitcoin updates review

Galore Pro Bitcoin Broker offers a great selection of Cryptocurrencies for trading.

The Brokers trading conditions are very competitive But only on the higher-tier account types.

Can you trade Bitcoin with Galore Pro?

The answer is a sound, yes. Bitcoin and other cryptocurrencies are available for trading, see what you are able to trade here below:

range of markets galore pro

Galore Pro Trading Platforms

The trading platform is the Metatrader 4 trading platform developed by metaquotes which is the upgraded version of the MT4.

Also, there is a Webtrader which is a very intuitive trading platform that allows traders to start trading almost instantly.

The apparent main advantage of the web trader is that it does not have to be downloaded and installed and that it can be accessed from anywhere, where there is the internet.

The charting capabilities of the MT4 platform are even more impressive than that of the webtrader  In addition to the different chart-types, time frames and technical indicators it supports, and it also offers live support and a news-feed.

MT4 is, without a doubt the world’s most advanced trading platform a. It excels in every regard, and it offers features that cannot be matched by any of its competitors.

Its charting abilities are merely superb. It covers a massive range of time frames, chart types, and technical indicators. MT4 is what’s called a fully customizable trading situation. What this means – among other things -is that in addition to the 50+ technical indicators that come pre-installed with the downloadable platform, traders are free to install their own, acquired from third party creators. What’s more, traders can even create their technical indicators through the MT4 platform.

MT4 also supports multiple order types, such as market orders, trailing stops and Stop limits.


Galore Pro Account Types

Besides the Islamic account and the demo account, any trader can get one of four different accounts. These accounts have the same features, but the higher accounts have better conditions as you might as well have expected.

 

Best Bitcoin Trading Strategies with Trading Galore Pro

 

Hedging

Ever heard of the term “hedge your bets”? That’s exactly what this trading strategy is all about.

Since bitcoin is volatile, there’s always a chance that you’ll lose money on trades in the short term. That’s why it can be a good idea to hedge your bets by opening a trade that’ll mitigate that risk.

with Galore pro you are allowed to Scalp and also Hedge !!

There are a few ways to go about that.

You can short-sell, which means you sell your bitcoin with the expectation that the price will go down so you can buy it back at a lower rate. Many traders will borrow bitcoin from a broker, trade it on an exchange and then return the amount they borrowed.

But that can be risky if the purchase price goes up instead of down.

You can also hedge with contracts for difference (CFDs), which are derivatives rather than actual cryptocurrency. In that case, you’ll hold your bitcoin in the hopes that the price will go up in the long run, but open a CFD that wagers on the purchase price falling. Whether the price actually goes up or down, your gain on bitcoin or the CFD will offset the loss on the other.

Finally, you can hedge your bets with bitcoin futures. These are contracts between two parties who agree to trade bitcoin at a certain price on a specific future date. If the price of bitcoin has gone up or straight down on that date, you’ll make the trade and take either the win or the loss.

Trend Trading

Trend trading is a strategy that relies on the current trends in the Bitcoin world. You’ll need to keep a close eye on what others are talking about and plan to do.

For example, bitcoin became incredibly popular in 2017, when the price rose to almost $18,000 per BTC. There were many reasons for that, but the main one was that bitcoin received a lot of publicity. That meant more people wanted to get in on the action, which increased demand – and thus increased the value of bitcoin.

You can engage in trend trading over any period of time, whether that’s days, weeks, months or years.
You just need to have an idea of what will happen next.

Galore pro offers the tools for you to keep track on the Bitcoin Trading Markets

For that purpose, you can use technical analysis to help make an educated guess. Some of the indicators in technical analysis include relative strength index (RSI) and moving averages over time.

Although pattern trading can seem less risky than other strategies, it’s worth remembering that there are hundreds, if not thousands, of factors that influence the price of bitcoin. These include businesses adopting bitcoin, additional cryptocurrencies entering the market and governments implementing new trading regulations.

Breakout Trading

Breakout trading is similar to tendency trading; the difference is usually that you aim to buy or sell bitcoin at the beginning or end of a trend.

You need to understand support and resistance levels, which are often referred to as the floor (support) of the bitcoin price graph and the ceiling (resistance). In other words, these are the purchase price points bitcoin won’t drop below or rise above.

The points at which those levels are broken either upward or downward are called “the breakout factors.” Once this happens, you can usually expect the price to become very volatile.

Again, the trick is to correctly anticipate exactly what will happen next.

If you’re able to do that, then you can make some really good deals. There are different ways to identify the support and resistance levels, including to look at volume amounts, RSI or the shifting average. Once you know that, you can create an order to buy or sell at a particular price point that makes sense.

this is a good broker to trade Bitcoin

 

Similar Brokers are:

etoro ~ FPmarkets ~ profit Trade ~ Galore pro ~ LegacyFX ~ UBCFX

 

Have another experience, and we would love to hear about it. 

 

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1 comment

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1 review

Author February 23, 2020 at 2:21 pm
1 reviews
3.8/ 5
OK broker

had a nice experience with them till now. they know what they are talking about and their webtrader for me was a surprise in its offered functionality. I will stick with the MT4 thou but altogether good broker

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