Whaleclub is a new type of trading platform that runs entirely using digital currency.
Whaleclub allows you to trade forex, stocks, commodities, and bonds using Bitcoin or Dash (another digital currency). And you can also trade Bitcoin CFDs. By trading a CFD instead of the actual currency, you can potentially profit no matter what direction Bitcoin is moving.
Buying or Selling
One of the main advantages of CFDs is that you can trade both long and short positions. This means that you’ll be able to profit if the price goes up or down. Good traders will be able to profit from the bitcoin market, no matter what direction its moving.
You would open a long (buy) position, if you believed the price would rise. And you would open a short (sell) position if you thought the price would fall.
CFDs also allow trading using leverage. Leverage will allow you to control a much larger position, and in doing so could increase your profits. But it’s a double edged sword, you will also potentially increase your losses. I also recommend new traders, trade using 1x leverage and only use leveraged positions once they are consistently making profits.
One thing I really like about Whaleclub is the community chat. There are always a lot of traders online, chatting and sharing their trade ideas. You can even share the trades you make in the chat and what % they are up or down. The chat makes the entire trading platform seem more alive and active. Newbies will enjoy hearing some of the theory behind why traders are opening their positions and you can potentially learn a lot.
If you’re looking for ideas on when to trade, then you should look at the trade ideas page. This aggregates mainly technical analysis on the various instruments being traded. If you’re new to technical analysis then this will be a valuable resource for you.
Watch traders share trade ideas in real time
The “ideas” feature on Whaleclub is actually powered by the social trading site TradingView. This community has over a million members who share their trading ideas in real time. If you’re not interested in trading using Bitcoin on Whaleclub, then you can get the same trade ideas by joining TradingView. It’s completely free and has a whole lot of other nifty features for traders.