Here are some of the topics we are going to cover:
- What is Whaleclub and what is their Mission.
- Why was Whaleclub created?
- How to use Bitcoin to go long or short Stocks, Forex, Crypto, and Commodities.
- Making your first Trade.
- What is Long and Short.
- What is Bid and Ask.
- Order Types.
- What is Leverage… and more…
and much more.
Let’s get started…
What is Whaleclub?
Whaleclub is a new Bitcoin startup that allows anyone to trade the financial markets by using Bitcoin, without the need for a bank account.
Traders can go Long or Short on Cryptocurrencies, Forex, Commodities, Indices, and Stocks, using Bitcoin as opposed to Fiat currency.
- Whaleclub is a trading platform based in Hong Kong.
- Whaleclub was introduced in January 2016.
- Whaleclub users have traded over 1 Billion USD.
- Whaleclub allows anyone to trade the financial markets by using Bitcoin.
- Whaleclub is trusted by over 15,000 traders who use Bitcoin to trade the global markets every day.
- Bitcoin makes it possible for traders in over 190 countries to trade the markets on Whaleclub.
- Whaleclub strives to offer the best trading experience in the world through…
superior Technology, Low Spreads, Fast Execution, and awesome Customer Support.
Current trading volume on Whaleclub is about 60% regular trading and 40% leveraged ‘turbo trading’.
Whaleclub began with the idea that a digital currency powered trading platform can operate at less cost than traditional systems.
These cost savings can be passed on to customers in the form of low spreads and zero execution fees.
“By blending sophisticated engineering with an elegant experience, we empower thousands of traders to access worldwide markets by using bitcoin – completely outside the traditional financial system.”
Why Was Whaleclub Created?
Whaleclub started with the idea that a trading platform powered entirely by digital currency can operate at significantly less cost than traditional alternatives.
These cost savings can then be passed on to customers in the form of low spreads and zero execution fees.
Before Whaleclub, there really wasn’t a great way for traders – wherever they may be in the world – to access the global markets and start trading relatively quickly.
Traditional trading firms are plagued with deposit and withdrawal delays, excessive fees, and poor customer support.
We don’t blame them – traditional finance is a high friction business.
By using digital currency instead of fiat and by running on superior technology built from the ground up, Whaleclub provides a significantly better trading experience with instant deposits, low-latency execution, worldwide market access from over 190 countries, low-cost spreads, full privacy, and exceptional customer service.
Bitcoin enables a global, low-cost, fast, and private trading experience.
Whileclub management team has a solid track record with vast experience in the industry and understands what traders need to trade effectively.
Whaleclub’s aim is to provide customers with a stellar trading experience. It’s their commitment to their customers to keep their products fresh, easy, and blazing-fast through constant updates and improvements.
How to use Bitcoin to go Long or Short Stocks, Forex, Crypto, and Commodities.
After you have created your Whaleclub account, it could have been a Demo account, you can just switch to the Live Account without having to create a new account.
Making Your First Trade
Step #1: Making A Deposit.
- Switch to Live Trading then click on the blue Deposit button to get an address to send bitcoin to.
- Deposits are instant so you don’t even have to wait for a blockchain confirmation.
- This is especially great if you want to take advantage of a trading opportunity quickly.
- There’s no minimum deposit but the minimum trade size is around 0.01BTC on most markets for Classic Trading,
and 0.001BTC for Turbo Trading.
Step #2: Selecting a market
The first thing you want to do once you’re ready to trade is to select a market.
There are around 30 markets you can choose from including stocks like:
- Apple and Netflix,
- Currencies like EUR/USD,
- Commodities like Gold,
- Indices like the S&P500, and
- Cryptocurrencies like Bitcoin and Litecoin.
NB: Some markets may be grayed out – that means they’re currently closed.
- Stocks are closed on weekends and outside of 8:30AM-6PM (New York time) on weekdays.
- Forex and Commodities are closed on Sundays.
- Cryptocurrency markets are open 24/7 !!!
You can create a watchlist of markets you want to follow. Click on the star icon to add a market to your watchlist. It’ll appear in the left-side panel in your trading dashboard.
Using the charts
Whileclub charts are powered by TradingView and offer a whole range of features.
Some of the Whaleclub Chart Feature are…
- Hundreds of drawing tools for simple and advanced technical analysis.
- Over 200 indicators ranging from EMAs to MACD to oscillators to Ichimoku clouds.
- 10 different chart types, including Candles, Bars, Heikin Ashi, and Renko.
- Fully customizable timeframes.
- Detaching – follow multiple markets at once by loading multiple charts.
How To Submit a new Trade
To submit a Market Execution trade,
- Specify your Leverage
- Specify your Lot Size
- Click the Short or Long button (Depending on whether you want to go Long or Short).
You can also submit a Limit/Stop order as well.
Use this panel to submit new trades
What is Long and Short?
You enter a Long Trade, or Long Position, if you expect to profit from rising prices.
Let us say that you enter a long trade at 600 on BTC/USD and price rises to 606.
That is a 1% rise, so you make a 1% profit on the amount you invested.
If the price had fallen by that amount, you’d have made a 1% loss.
You enter a Short Trade, or a Short position, if you expect to profit from falling prices.
Let us say that you enter a short trade at 1.1200 on EUR/USD and price rises to 1.1312.
That is a 1% rise, so you make a 1% loss on the amount you invested.
If the price had fallen by that amount, you’d have made a 1% profit.
What is Bid and Ask?
In simple terms, the bid represents the price at which you can currently go short (or close a long position) and the ask represents the price at which you can currently go long (or close a short position).
The numerical difference between the bid and the ask is called the spread. A full list of spreads for each market is available here.
- Long orders are executed at the ask price and short orders are executed at the bid price.
- Long orders are closed at the bid price and short orders are closed at the ask price.
A Market Order is the default and most basic type of trade order.
It will immediately execute your long or short at the best price that is currently available.
A Limit/Stop Order is an order to long or short at a price that you set.
A Limit/Stop Order will be executed once the market price reaches the price you set.
It will display as ‘Pending’ until that happens.
The textbook definition of Leverage is “having the ability to control a large amount of money using very little of your own money and borrowing the rest.”
Whaleclub provides up to 100x Leverage on currencies such as EUR/USD and between 5x and 15x leverage on the rest of the markets.
Leverage allows you to multiply your buying power when you trade.
For example, to open a 100BTC position at 100x leverage, you just need 1BTC.
That 1BTC is referred to as your margin.
Let’s say your 100BTC investment rises in value to 101BTC (a 1BTC gain). If you had to come up with the entire 100BTC capital yourself, your return would be a puny 1%.
Fortunately, you’re leveraged 100x, so your return is a groovy 100% (1BTC gain on 1BTC initial investment).
Although 100x leverage may seem risky, the risk is significantly less when you consider that Forex prices usually change by less than 1% during the day.
If you use leverage, you’ll be charged a financing rate which applies daily. Think of this as interest you pay for borrowing funds.
It’s relatively low but it can add up if you hold your position for extended periods of time.
A full list of financing rates for each market is available here.
Although the ability to earn significant profits by using leverage is substantial, leverage can also work against you. If the asset underlying one of your trades moves in the opposite direction of what you believed would happen, leverage will amplify your potential losses.
The field between the Long and Short buttons is where you enter the full amount, including leverage, you want to invest in your trade.
The ‘Max’ value gives you an idea of how much you can enter here.
Once you’re done, click on ‘Long’ or ‘Short’ and voilà! You’ve submitted your first trade!
Your Active Position
Profit on the trade you just submitted is updated in real time under the ‘Active’ panel.
Splitting your Position
Sometimes, you want to close or manage only a part of your position, not the entire position itself.
For that, you can use the handy ‘Split’ feature to split your position into smaller ones that can be managed separately.
To split your position, click on , select a ratio, and click ‘Split‘.
Your position will magically split into two smaller ones.
You can close these smaller positions or update their take-profits and stop-losses independently.
Closing your positions
Click on the ‘Close’ button to close your position at market price (the best available price).
Your position closes instantly and locks in the profits or losses you made on that trade.
Click on your active position. A panel will pop up showing your margin, your liquidation price (the price at which your position is automatically closed if it were to lose too much money), your entry date, and more.
From here, you can also set a Take-Profit and Stop-Loss.
Setting a take-profit and a stop-loss
You set a take-profit to automatically close your position once a certain profit has been made. Although it halts any further advance in profit, it guarantees a specific profit after the price level you set is hit. Setting a take-profit is optional.
You set a stop-loss to automatically close your position once a specified price is reached causing a loss. It’s designed to limit your loss. Having a predetermined point of exiting a losing trade not only provides the benefit of cutting losses so that you may move on to new opportunities, but it also eliminates the anxiety caused by being in a losing trade without a plan. Setting a stop-loss is also optional.
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