TMGM

What is cryptocurrency CFD trading?

With CFD trading, you do not need to buy or hold the actual cryptocurrency asset. Instead, traders enter into a contract to speculate on the price movement of the asset’.

Does crypto have trading hours?

No, you can open and close positions at any time. — Each 24-hour period serves as a useful reference point for traders when developing their strategies.

How to start crypto trading for beginners - The basics

How do you begin trading cryptocurrency as a beginner? Follow our step-by-step guide.

1. Register for your trading account

The first step for beginners is to open a trading account. Registering with TMGM gives you access to the necessary tools and platforms to analyze the market and execute trades.

2. Download your trading platform

The trading platform is software you will use to monitor price movements and trade cryptocurrencies on global markets.

3. Develop your trading strategy

Crypto trading requires a rational, logical, and disciplined approach, so you need a strategy you can depend on. While no strategy is immutable and can be adjusted over time, it's best to stick to your plan during active trades.

4. Analyze market trends and select a cryptocurrency pair

Within your platform, you'll find a wide range of options. These include established cryptocurrencies like Bitcoin (BTC) and Ether (ETH), emerging coins such as Litecoin (LTC) and Ripple (XRP), and lesser-known assets like Golem (GLM).

5. Open your trading position

Opening a position means your trade is active and subject to market fluctuations.

Market volatility can generate profits but also poses risks. Therefore, it is essential to use risk management tools such as stop-loss and take-profit orders to keep your trade within manageable limits.

6. Monitor the market

Keep track of your selected cryptocurrency’s market performance to stay informed about your trade’s progress. Aim to adhere to your original strategy whenever possible.

7. Close your position

When appropriate, close your position to end exposure to market movements. This will realize your profits or losses.

Crypto trading strategies

Choosing a strategy is crucial for planning how to profit from crypto trading. While no approach guarantees success, a strategy helps you work towards your long-term goals. Below are some common crypto trading strategies:

Strategy	Description
Scalping	A short-term strategy where positions are opened and closed within minutes. Scalping aims for frequent, small profits.
Day trading	A medium-term strategy where positions are closed within the same trading day, typically a few hours after opening.
Swing trading	Positions are held for several days or longer to capitalize on market swings.
Crypto trading derivatives	Derivatives are financial instruments that “derive” their value from an underlying asset. In this context, the underlying asset is a cryptocurrency pair. Examples include crypto spot trading, futures, and forwards.