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BitMEX signals are forecasts of professional traders for coin price increasing or decreasing usually to trade on BitMEX.
Best BitMEX Signals Telegram Providers:
Have you heard about getting high profits from leverage trading?
Yes, it is true, but there is another side of this type of trading.
High risks, big losses.
Want to know more about crypto signals? We have prepared a very interesting article for you. Find out how to choose the best provider!
Is it possible to trade BitMEX and earn good money?
Let’s find out in this review.
What Is BitMEX?
BitMEX is a cryptocurrency exchange platform for professional traders.
Yes, if you are a newcomer, it will be better for you and your finances to avoid trading on this exchange until you gain experience.
BitMEX is popular because of its leverage trading.
Leverage is the ability to open trades that are bigger than the users’ existing capital.
This looks very attractive, right?
Yes, but very risky as well.
In this type of trading stop losses play a big part in the whole process.
The maximum leverage the platform has is 1:100.
Simply speaking, if you have only $100, BitMEX will allow you to invest $10,00 in a coin.
How To Choose The Best BitMEX Signals Telegram Provider?
Now we can see a lot of different providers.
But!
Trading on BitMEX is really, really difficult!
That is why not every provider is going to provide you the best BitMEX USDT cryptocurrency signals - most of them are scammers.
Want to know about all of our trusted providers? We recommend you to read our article - 10 Best Crypto Providers 2020 | safetrading.today.
For example, we are not going to recommend you Blockchain Whispers long/short cryptocurrency signals, because according to our information, they are scammers.
Safetrading provides you with checked and trusted BitMEX traders.
How do we know they are legit?
We pay a lot of attention to our providers’ level of communication and the English language. This is very important.
Go through the free BitMEX signals group and look for ads or cross-promotion.
You are lucky when you won’t find it!
If you find it, run away!
It means that the provider doesn’t earn enough on cryptocurrency buy/sell signals.
Let’s look for free BitMEX signals in the free channel.
If you find them, go to tradingview.com.
Find the cryptocurrency pair you need and with the help of a chart review, if the provider's crypto signal was right and profitable.
What Is A BitMEX Trading Signal?
At the beginning of the article I wrote, that the BitMEX crypto signal is a forecast of professional traders for crypto coin price increasing or decreasing to trade on BitMEX.
The best BitMEX signals are going to contain:
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A cryptocurrency coin to trade;
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Leverage;
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Entry price;
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Targets;
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Stop Loss;
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Term.
Let’s stop for a bit and talk about signals terms - BitMEX long VS short.
There are short, mid, and long term signals.
Short term BitMEX trading signals are going (if they are successful) to reach targets in 1-2 days.
With midterm crypto signal you can wait a bit longer - up to 2 weeks.
Long term cryptocurrency signals are expected to reach targets within 1-2 months.
Of course, those terms are presumptive and depend on the market situation.
Final Thoughts
BitMEX attracts thousands of users every day because of its high leverage.
But remember the following details:
1) Don’t use BitMEX if you are a newbie in cryptocurrency.
2) It is better to trade on BitMEX using the best cryptocurrency trading signals.
3) You should every provider before buying a subscription.
4) Don’t follow even the best BitMEX signals blindly - you should understand everything you are doing because you invest your own money.
If you spend a lot of time gaining experience and don’t follow traders blindly, then trading signals are worth all your money and time, because professional traders earn a lot of money now.
Can u lose money on Bitcoin?
Yes, especially if you are a newcomer and want to trade with leverage. Trade step by step and you will avoid high risks.
If you still have questions, Safetrading will help you to solve them!