What is Bitcoin Mining?

What is Bitcoin Mining?

Bitcoin mining has received a lot of attention thanks to a few recent controversies, but if you’re a beginning Bitcoin trader, you might not even know what this hot topic is. Before we dig into how to gain Bitcoin in this manner or whether or not it’s something that you should be pursuing, we first need to go over exactly what this process is and how it works.

If you’re new to Bitcoin trading, this is a must read article.

The Basics

On a very basic level, Bitcoin mining occurs through software that processes Bitcoin transactions. As Bitcoin changes hands, it’s important that the processes be verified so that merchants and individuals can be assured that no fraudulent activity is taking place.

To be a Bitcoin miner, you would need to have special software running that helps these transactions take place. As a reward of using your computer space, a tiny proportion of the number of blocks—a unit of measurement for Bitcoin (kind of like a euro or dollar denomination)—is credited to your account. Think of it as the transaction fee, but instead of something like PayPal, Skrill, or your bank processing the transaction, your computer is doing the work.

Bitcoin mining occurs so that the process can stay safe for all users. Bitcoin transactions are meant to be anonymous, and to ensure that this occurs, a lot of encryption is needed. The downfall here is that as Bitcoin ages, this process gets more and more complex, and that means that it is tougher for computers to do. It makes sense, though. Cyber security is an always growing field, and to keep your BTC safe, developers need to keep making their security policies tougher. This will be an ongoing process in all cryptocurrency coins on the market.

The cost of mining to produce a 1 BTC profit today is much higher than it was five years ago. This has made Bitcoin mining a lot harder to do. We’ll look at some of those repercussions below.

Bitcoin Mining Has Changed

You’ve probably seen on other sites or in the news some of the drama that has arisen in regards to Bitcoin mining. We’re going to assume for the sake of simplicity that the mining software that you use, your wallet, and anything else you might need are not only completely legitimate, but completely safe and secure, too. These are concerns, however, and you should always check out any product that you plan on using thoroughly before you begin using it.

Even with all of those safeguards in place, the process of Bitcoin mining has changed. For one, it’s a lot harder to do now than it was four or five years ago. The amount of computer power needed to successfully and profitably be a Bitcoin miner has increased significantly. In many cases, you will end up losing money as a Bitcoin miner thanks to the accrual of costs that will occur.

That doesn’t mean that everyone should stay away from Bitcoin mining. In fact, for some, it can be quite profitable. We will talk about that on another page. But for now, it’s important that beginners know that Bitcoin mining is not as easy as it once was and it’s not for everyone. Be sure that you know the basics before you begin, but also be sure that you are familiar with the cost and the risks involved so that you can figure out if this is something that’s good for you personally.

Bitcoin Mining Pools

Because of the changes, it’s a lot harder to get started in Bitcoin mining today than it was several years ago. To combat this issue, many miners have joined together in mining pools. This helps individuals to share the costs associated with running this software. When you enter the pool, you agree to split the profits with the others in the pool. This is one of the bigger trends emerging in the field of Bitcoin mining, and it is worth taking a look at if you are a beginner in this field. Be aware that different pools have different rules, costs, and profit sharing policies.

 

Forex Rebates

Forex Rebates

Are you interested in learning more about Forex rebates? Are you wondering how they might be able to help you to take your trading to the next level? You’re in the right place!

But before you get too far into this article, it’s important that you know that although rebates might sound like a really easy way to increase your profit rate, they’re not right for all traders. Some traders really benefit from them and can use them to supplement their earnings, but some traders do not thrive with them. Looking at rebates honestly and from an unbiased point of view is important if you want to give yourself a real chance at being a successful Forex trader.

What are Forex Rebates?

When you open up a Forex trading account, you probably will go through a site that’s an affiliate of the broker. We are an affiliate site with a few different brokers, for example. As compensation for opening up the account, whenever you make a trade, a tiny portion of the spread is given to the affiliate as a payment. This might be as small as a few pennies here and there, but over time, it adds up.

If you use a site that offers a rebate, some of those earnings go back to you. It’s the affiliate’s way of thanking you for using them.

Can Forex Rebates Help Me?

Who doesn’t like getting free money? But just because rebates seem like free money doesn’t mean that they are. For one, you need to make trades to get those rebates. If you are not yet a profitable trader, you might be earning a few bucks a month on rebates, but losing a few hundred on bad trades. Obviously, this is not an ideal situation. You want to be making money, not losing it.

Forex rebates can be helpful, but only if you use them as a smaller portion of your overall trading routine. You need to take care of all the first steps first. Find a strong broker, find a trading routine that works, and use all of the proper techniques and risk management methods to keep yourself safe. If you’re doing all of these things and you are a profitable trader, then rebates can help you to be even more profitable.

How Do I Get Started?

Getting started with rebates is not very hard. In fact, it’s a lot easier than trading is. But, you will need to open up a new Forex account. If you’re already an established Forex trader, that means opening up and funding a new account. It’s not perfect for everyone, but there are some distinct advantages.

You will need to open up an account through the rebate site, whether it be us or someone else. Then, you will need to select a broker and open up an account with them. Once that’s done, a payment account will need to be set up so the rebate site knows where to send your money. You can choose from a variety of payment options so you’re more likely to find something that fits in with your lifestyle.

You’ll need to fund your Forex trading account next. After you do that, you’ll be all set to start trading. After you have made a set number of trades, money will start coming into the rebate site through their affiliate account.

What Other Details Do I Need to Know?

Rebate cash doesn’t show up in your account quickly. It can take weeks for that money to make its way to you. Remember that Forex trading is a long term endeavor. Your trades might be only a few minutes in length each, but making money is only worthwhile if you are doing it consistently. Rebates need to be viewed in this light.

If you are already a profitable trader, then rebates are a way to supplement that. Even the most profitable traders out there have off months, though. Rebates can help you to smooth over the down months and make the most out of the good ones.

It’s also worth knowing a few of the details about how rebates are calculated. Not all currency pairs are worth the same. The amount that you trade will also help determine your rebate rate. If you trade the EUR/USD with 100 times leverage, the amount you make will be different than if you trade the USD/JPY at 400 times leverage. Also, different broker products are worth different amounts. The type of account that you open with the broker that you originally selected will make a difference.

If you have more questions, feel free to shoot us an email or contact customer support at your broker. It’s best to get all of your questions and concerns out of the way before you commit to a broker and a rebate site so there are no doubts or lingering questions after you start trading.

24option

24option

Start Your Forex and CFD Trading at 24Option - Open a Demo Account Today!

24Option is one of the newer CFD and Forex brokers out there, but they have been a well established broker for several years in other areas. This has helped them to build a clientele quickly, but that doesn’t necessarily mean that they are the right broker for you. Before you begin trading at 24Option, be sure to read over our review so that you can see what they offer and whether that fits in with your plans as a trader. Forex trading is exciting, and there’s certainly potential for profit here, but only if approached correctly. There’s also a lot of risk involved so it’s best to be cautious when choosing the best Forex broker for your purposes.

But, if you’re looking for a broker, they are one of the best out there. Keep reading to see whether they are right for you.

What Do They Offer?

24Option offers a wide variety of contracts for difference and Forex pairs. In all, they have about 120 different assets that you can select from when making your trades. Besides the Forex pairs that you would expect, 24Option also offers index and stock CFDs for their traders. You will also find a limited number of commodities available as CFDs.

Do They Accept U.S. Based Traders?

24Option does not allow U.S. based traders to create an account. There are a variety of reasons why a broker might not allow U.S. traders, so this isn’t necessarily a bad thing. There are many financial laws and regulations that brokers must follow, and 24Option is a trustworthy, well established broker. If you are located in the U.S., there are several great brokers available to you, so don’t worry. 24Option is not currently one of those.

Customer Support

The customer support team at 24Option is pretty strong. You can contact them by phone, email, or direct chat. Depending on the severity of your problem, any of these methods can be helpful. If you do use email, a reply may take up to 24 hours. Other methods will get you help in just a few minutes. Their team has a lot of experience thanks to the fact that 24Option has been in business for a while, and they are available to assist you any time, day or night. Customer service is one of those things that you never plan on using, but when you need it, you want to make sure that they are helpful as quickly as possible.

Opening an Account

Opening up an account with 24Option is quick and pretty easy. First, you will create an account. You’ll need a username, your email, password, and to let the site know where you are located. They will send a confirmation email, so be sure to use one that you use often. Next, you’ll need to fund your account. You can use a wire transfer directly from your bank account, a credit card, or an online wallet like Skrill, Webmoney, OK Payor Perfect Money. You can open an account for as little as $100 USD. You can also use ZAR, EUR, GBP, CHF, and RUB to fund an account with, depending on what’s easiest for you.

Having a variety of ways to fund a site is always helpful for traders, but remember that how you fund your account will determine how you get your money back. We’ve found that it’s always easiest to use the same method to fund an account as it is to receive withdrawals back from the broker. Also, the currency that you make your deposit with will be the currency that your withdrawals are made with. After you have a funded account you can request a 24Option demo account. This may help you learn the platform.

Bonuses?

24Option does not currently offer bonuses, thanks to their physical location, regulators, and their clientele. It has become a frowned upon practice in some parts of Europe to offer these. In order to appeal to as many clients as possible, 24Option does not give out bonuses. They have many other strong offerings, such as a thorough education center, that can help their clients in other manners, if broker benefits are important to you.

Trading

As mentioned above, 24Option offers more than 120 different assets on their Forex trading platform. They have all of the Forex pairs that you would expect from them, along with indices, a limited number of stocks, and commodities, such as gold.

You also have access to trading cryptocurrency trading with 24option. This means you can trade all the major coins like Bitcoin, Ethereum and much more. Probably the fastest growing assets to trade out there, while using a nice platform that will help you get going.

24Option is completely compatible with the MetaTrader 4 trading software. This has become the most widely used and most helpful trading tool out on the market today, so we highly encourage you to link your accounts before you begin. MT4 gives you access to trading tools, technical analysis software, as well as expert advisors, trading robots, and much much more. Be sure to practice with a demo account before you begin trading with real money.

***Your capital may be at risk. This material is not investment advice.***

24Option has competitive spreads. These will vary depending on the asset, the time of day, and how popular the asset is. Be sure to see whether they have the best spread on your assets of choice before beginning so that you can assure yourself that you are trading with the right broker before you make your initial deposit.

Plus500

Plus500

Are you ready to start Trading CFDs at Plus500? See More Here

Plus 500 is a contract for difference broker that was founded in 2008. They’re based out of the United Kingdom and have one of the strongest reputations in the CFD business right now.

Plus 500 is not the best broker for everyone. Trading is risky, and it’s always possible that you can lose money when you trade. Be sure that Pluss 500, or any other broker that you might be considering using, is right for you before you begin trading with them. Hopefully, our review here can help get you pointed in the right direction.

What Do They Offer?

Plus 500 offers over 1,000 different contracts for difference for their traders. They have a huge selection of CFDs thanks to the fact that they were one of the early innovators in this field. They offer CFDs on all of the major world indices, the Forex market, cryptocurrencies like Bitcoin, as well as commodities and stocks. They have one of the largest selections of CFDs to choose from of any broker in the world. Recently, they also began offering CFDs on ETFs and options, if this is an area that you are interested in.

Do They Accept U.S. Based Traders?

No. Plus 500 does not accept traders out of the United States. If you’re located there and you want to trade CFDs or Forex, there are great resources for you, but this is not one of them. Like many other European-based brokers, Plus 500 is not allowed to accept traders from here because of regulatory differences. This has helped to make them a stronger broker as they are compliant with all of their local laws this way.

Customer Support

The customer support team at Plus 500 is very strong. You can contact them by phone, email, or online chat 24 hours a day, seven days a week. If you want to get a hold of them for chat, there is a small button at the bottom righthand corner of their home screen that says “24/7 support.” Click here, and you will be chatting with a representative within seconds. Their team can help you set up or fund an account, figure out the trading software, make a withdrawal, or anything else you might need assistance with.

Opening an Account

Opening up an account and doing business with Plus 500 is a pretty straightforward thing. Once you are on their home page, click on the “Start Trading” tab at the top of the screen. This will take you to a place where you can either log in or create an account. You will need to supply an email address and a password, as well as agree to follow all of the site rules. You will also be asked to supply your location, as this is a required step by all financial brokers. If you live in a restricted area, you will be alert of that automatically.

Next, you’ll need to fund your account. Plus 500 allows traders to make deposits by credit card, wire transfer, or e-wallet. You can open an account with as little as $100 USD.

Bonuses?

Plus 500 does offer bonuses to their clients. The size of the bonus will vary depending on the account type and size that you initially open up. Be sure to speak to a customer service representative about a bonus if this is something that you’re interested in. They are not always helpful, and they do have requirements attached to them, but some traders benefit from the use of a bonus.

Trading

As mentioned above, Plus 500 has a huge selection of assets for you to choose from. This broker offers competitive, tight spreads. The range of those spreads will vary based upon what you are trading. For example, the EUR/USD Forex pair will likely have a slightly larger spread than an obscure commodity, simply because more people will trade the currency pair and it is more lucrative for the broker to make this move.

Plus 500 has their own trading platform, which has received very good reviews. You can also use MetaTrader 4 with this broker, if that is something that you are more interested in. The internal platform is great, but so many traders use MT4 today that this is probably a better way to go, especially if you are already familiar with it or will be using other brokers in the future. The biggest difference is that MT4 allows you to create trades based off of technical analysis and can also give you access to automated trading and higher quality signals. These tools aren’t for everyone, but many do thrive with them. Be sure to learn more and to practice with a Plus 500 demo account before you begin so that you are gaining the experience that you need before you start trading with real money.

They offer their clients leverage of up to 300 times the trading amount asked for. Leverage is a powerful way to increase your profit rate, but it can also increase your losses. Be sure to use extreme caution when trading, and practice all of the normal money management and risk management techniques that you have learned to help protect yourself from unnecessary losses. Be sure to read more on this if you need more information within this area.

***Your capital may be at risk. This material is not investment advice.***

Forex Trading System

Forex Trading System

Developing a new Forex Trading System can take days, weeks, months or even years. Forex traders are always looking for the holy grail, but in the end it is up to you when it comes to trading. You are looking for an edge in the market and finding one can be quite difficult. As you know by now, we trade many different methods. We’ll be using our wick method using our Wick histogram indicator developed by “TRO”. This indicator made trading this method a lot easier and saves a lot of time.

We call this strategy the Wickity Whack Method or WWM for short. It follows price action during the day and can be traded at most times. Obviously certain times are better than others. This method can be used with any pair, but we’ve only tested it with the EURUSD.

There are a few reasons why we only use the EU:

The spread is usually low compared to other currency pairs which is important when scalping.

Movements are strong.

Wicks occur often enough so more trades are taken throughout the day.

The strategy is fairly simple in terms of what to do. The hardest part, is executing quickly enough in case you are not watching the market at the moment. The first thing you want to do is setup a five minute candle stick chart of the eurusd. We highly recommend you use the Metatrader platform for ease, not to mention that it is free. Multiple brokers offer this platform as a retail trading tool. All the brokers listed on this site have a Metatrader platform.

Once your candlestick chart is setup, whether you have the wick histogram indicator or not, all you’re looking for are 5 minute candles with wicks that are 10 pips or longer. If you see a wick that has a 10+ pip wick, then on the next candle you want to trade the reverse of the wick. Say the price is moving up and the wick forms pointing up. Then on the next five minute bar you will go short. You can either enter immediately or you can wait, giving the current candle some wiggle room to retrace toward the wick and then go short. Of course everything is the same for going long with the wick pointing the other direction.

Your goal is too scalp 5 pips or more. You can set a limit for this or you can use single click market orders to exit. Another method is to set a limit on half your position at 5 pips and then move your stop down to break even once the 5 pips is hit, so you can go after bigger profits. Sometimes you will only get as much as 5 pips, other times you can get dozens of pips. This is something you will need to test and demo, so you can get a better feel of how the WWM system works. Reminder: Don’t be greedy and let the Forex scalping work for you.

Should the trade go against you, you’ll have a stop loss, 2-5 pips away from the tip of the original wick you are trading against. The most you should place a stop for is 20 pips. If the original wick is over 15 pips, you should let the next candle retrace up the wick before entering. This gets you in a safer trade with less risk, but you may miss out on several good plays. Keep in mind anything can happen when trading so you need to act fast.

Here is a perfect setup for the WWM method:

Forex Trading Method

Forex Scalping the WWM – You enter short at 1.3212 and it had 25 pip profit potential.

Going forward we will keep this page updated with some of our latest WWM trades. We will also include some live trade on Video.

Here is a perfect trading session trading the wicks. You multiple opportunities to make trades, some were average size, but a couple of them had a lot of big time potential, if you sold half and moved your stop.

We Look Deeper

Scalping wicks all night long makes you a lot of pips

If you were around this morning trading the WWM you had some nice gainers, plus an account doubler.Plenty of trades available. Only patience is required
Make this Trade

1.16.2009
This is our first video about our wick trading method.
01.18.2009
Here is our latest video from the European trading session on Thrusday night into Friday morning.
01.19.2009
It’s not always the best to trade when there is a holiday. Here is a look at two trades that occurred Sunday night, so you wouldn’t even have to trade on Monday. In less than an hour you had pip profit potential of 70-80 pips on two trades.

Holiday Trading

Trading Before a Holiday

Developing your own strategy can be quite difficult. Make sure you cover all the main features of a trading plan and don’t fall in love with one strategy until you know it is favorable in a lot of markets.