Initials FTX Made Easy

Signature ftx

hi guys thanks for tuning in tonight episode of Nuggets news tonight I'm excited to walk you through how to use the FTX exchange and we're gonna place a trade and show you how to do a stop loss and a take profit all those different order types so this is a fantastic new exchange that has popped up recently and they've got a range of different products and coins we can trade as well as different tokens which I'm going to explain for you today now whenever a new exchange pops up you should be skeptical but if you've watched that interview we've done with Sam who's the ex Wall Street quant trader who was sick of how bad other exchanges were so he built his own you know the backstory to FTX and I've now got Australian friends that have personally got jobs there so I can certainly put a bit more trust in them than a lot of other exchanges now the second problem new exchanges face is lack of liquidity but because these guys have got an OTC desk and the cost of their affiliation with alameda research which is a crypto quant trading fund they've got a lot of volume already and if we head over to volume monitor you'll see they've done over a billion dollars today just behind by Nantz and they're actually showing you which of the other exchanges are maybe doing the dirty and cheating on the volume but they're reporting there so another cool little tab there that FTX have come out with so once you've opened an account and i've got a link in the description below to get you a big discount on fees depending on how much you want to trade and we draw there is certain tiers we don't have to kyc or you do over a given limit so once you have KY seed it is going to allow you to withdraw a lot more but you can still deposit and withdraw and trade smaller amounts without that actual kyc process so if you're a beginner you may have never even funded a trading account before so this isn't really an account where you go to to buy one token and swap it to another token this is an actual trading platform so having said that there are a number of coins that we can deposit here and these will act as collateral in our account to trade against so we could put in Bitcoin for example but we can still trade aetherium it doesn't really matter what collateral we have and they've got their own native ftt token most people are familiar with that BMB token for finance and you get discounted fees this is very and again there are different tiers of discounts and a lot of other reasons to hold ftt so full disclosure as you can see I own some here in my trading account as well as some in my hardware wallet because this is an e rc 20 token that you can store safely for a longer term now when we have coins on here we can easily convert them from one to another so let's click on say convert our Bitcoin and if we think Bitcoin is going to fall in price we can convert it over to USD or tether tether out as people call it and click the amount or the entire amount if we if we click on Max and we can just convert that with one easy click of a button there so nice and easy to deposit if you want to send some Bitcoin to this exchange it's just going to show you Bitcoin address copy and paste that send your bitcoins there or if you're on your phone you can even scan that mobile QR code which is just the visual representation of your Bitcoin address so I hope that all makes sense if it's the first time you are doing some trading let's head over and have a look at the different futures or indexes that we can trade so perpetual future just means that this is an ongoing contract where people are betting if the price of Bitcoin is going to go up or down and we call that going along or short depending if we think it's going to go up or down respectively so not only do they have Bitcoin of theorem and a great range of coins that we can trade against US dollars which is not many other exchanges offer a lot of these trading against Bitcoin pairs rather than trading against the US dollar or tether value so that in itself is pretty exciting but it's these baskets these sort of like an ETF like an exchange-traded fund we've got an altcoin index a mid-cap index a coin index of 60 low market cap coins and things like this exchange token index that they've come out with it's a basket of exchange tokens so they're going to have more and more of these exciting products and let's put on a trade together so if we think that old coins in general the top 10s or the larger cap market coins are going to have a good bounce then we would want to put on a long order or do what we call buying here now if we think it's going to go down and we want to sell or go short just do the opposite and we're betting that it's going to go down but for ease of explaining this today I'm just gonna put on along so let's say that we want to put on an $1,000 order we can just type $1,000 there at the moment each unit of these altcoin index the basket of all coins has a value of around four hundred ninety four dollars you can see so it's telling us that we're going to own two of these old queen baskets it's telling me that that's on really low leverage you know I could trade much larger amounts if I like up to $100,000 there and that's telling me that that would be on 30 times leverage because I've got about three thousand dollars collateral in my account at the moment so if we want to buy this when it goes a bit lower and the price is currently around four hundred and ninety four as I said let's type in four seventy-five we've got the thousand dollar amount that's my limit order click on post and that he's going to add it to the order book and you can see down here it's gonna sit in my open orders the other option I have is just clicking a market order if you're rushing and you want to get in that he's just gonna throw your order into the market and take the best price that is available in the audible here we can see all the buyers and all the sellers that are lined up at higher prices and there's plenty plenty of volume here as you can see so within you know less than 0.1% there's often $100,000 or more on the bead in the asks so you can get in and out of large orders quite easily on these larger more traded products but if you want to trade a really low small cap coin be careful of the volume if you're using leverage and the size of the trade you put on because there might be a lot of slippage getting in and out of orders now let's say that the market does get down to our level of to hunt 475 and that trade gets filled if we're going to bed we might want to put in a stop loss and we also might want to put in an order on where to take profit if it bounces while we're asleep so if we head back over to the order form and we click stop market or stop limit so stop market again he's just going to put the order into the market when it hits my trigger price so let's say if we're wrong and it gets down to 450 that is just going to treat a market order at the best available price slightly more advanced that is once we hit 450 we might want that order to get executed at say 450 dollars or better so look that's a little bit more advanced for you traders out there but again we can do that and what we want to make sure we click is that we are selling because at that stage we're going to have on a position and we want to put it on as reduce only so we don't want to ever make a mistake and put this on as a new trade we want to have this so it's only reducing any current orders we have on and that's going to be important when we talk about the take profit as well so let's click on sell and that is going to place that and here it's going to show up as my stop-loss orders now again if we have that trade get filled and it doesn't go down to our stop loss and it heads in the right direction all's going well and we're making money on our trade we might want to take some profits so our options are a trailing stop and that we can choose that that's going to trail behind the trade once it gets filled say ten dollars behind and that's going to if it ever pulls back ten dollars after it's run in the right direction that's where that order is going to get filled but I prefer doing a take profit just a market order so if we hit 500 again we want to sell and we only want that to reduce because if we've put on that order and then we've been stopped out and then the market goes the other way and we wake up when we find that this orders being fueled even though we didn't have a trade on so all of a sudden we're now got a position on and we're short and we've been in the market wants to go down that's not what we want so we only want this position to get filled if the intent is to reduce the trade that we currently have on so again step further we can turn that into a limit order put the trigger price and then the limit of the price that we want to let's say maybe 510 let's click on sell and that is going to place a second stop-loss order both of these a reduce only though so it's fine that we've got two orders in there so I hope that makes sense on how to trade the different indexes and stops and take profit orders the other thing I'll just mention quickly are these tokens and then I want to talk about the volatility index which is really cool so I've got moon and doing tokens which move 10 times as much in either direction there's the underlying token and then bull and bear which move three times as much the final product I've got is a hedge token so that's just a one-time short or bet that it's going to go down and what that does is head you out so if you own 1/8 and then you buy one nerium hedge token if the price of eath goes down the hedge token goes up and you've remained with the same amount of value so you're just hedging your portfolio is the way to think of that now all of these are ERC 20 tokens so that's why you can actually we draw them and send them to an etherium you're hardly wallet your ledger but these are not to be traded long term and a lot of people found this out the hard way recently so if we click on the price chart here what we can see is that when things are going up in the right direction you know the old coin index went crazy from 6,000 to 20,000 in a couple of days but when things go against you and this fall's 10 times as much you know I dropped from 20,000 down to $60.00 in just a week so these things have got really big what we call drag and decay because in percentage terms you know when they're going up and down all the time they get eroded and the easy example I can give to you of that is if something's $100 and it goes to $80 it's actually got to go back up $20 but that's 25% it's no longer a 20% fall and because of that difference that's why these things have got such heavy drag in both the moon and the doom token so unless you're an experienced trader and you're gonna trade these short-term I don't recommend trading these the final thing I want to mention is the BTC move contract and this is a volatility contract that we shared a trade with members last night there was fantastic trade in the end so what the volatility of the move contract does is people are placing bets on how far the Bitcoin price is going to move in a given day so the daily candle opens at 10 a.m. in Australian time but midnight UTC time and when you're on your trading view charts which we have integrated here in the background you can see that you know the a leak and it has a price where it opens and then a price where it closed and what we're doing is betting on how much that's going to move it doesn't matter if it moves up or down a hundred dollars we're betting that that move will be a hundred dollars so let's let's go down the timeframes have a look at a five-minute chart last night we were trading in that narrow range Bitcoin was sort of in a tightening pattern and I've placed a trade recommendation for our members when it was actually trading at a hundred and ninety here so this was yesterday's contract which isn't up so every day these contracts settled to that price and you can make bets on them the day before here we see the 28th for tomorrow which is already trading so you might be able to trade these 24 to 48 hours in advance but basically I wanted to make a bet that Bitcoin was going to move more than 190 dollars that people were currently betting and that it you know ran up to six hundred and seventy dollars because we broke out that tightening pattern and we'd move six hundred dollars away from yesterday's price so this is a really great product at the moment this is training for $250 you know if we have another leg down in Bitcoin Bitcoin could move 500 or a thousand dollars so you can bet that that's going to happen if you think bitcoins not going to be very volatile you can short this sell this contract and if we only move a hundred dollars that day that's going to go down and settle it a hundred you can trade in or out of this at any time you don't have to wait for that daily candle to close in this contract to expire it's freely tradable so this is the first volatility product that I know of in the crypto world and I think it's absolutely awesome I've heard they're coming out with a hash rate product so you can bet if the amount of mining going on in the crypto world is going to go up and down and I've heard that they're coming out with options as well so guys if you want a discount on fees that is that affiliate link below that sends me a few dollars and does get your discount if you plan on doing some trading but all in all I think this is an amazing exchange plenty of different order types heaps of features nice and easy to use let me know what you think if you've traded on here and I hope you've enjoyed that tutorial if you have smashed that like button subscribe if you haven't already share this video around and thanks for tuning in guys Cheers