When it comes to cryptocurrency trading, the tricks and techniques you employ are what determines the profit you will make from the trade. They also determine the losses you will make. There are some traders who have been able to make huge profits while others have been making nothing out of the trade. The difference is the techniques they use when trading on Bitcoin OTC broker services. Under this trade, there is no need to use regular exchanges and bots. You only need to make a phone call, email communication or video call. You then discuss trade information with your broker. You can talk to a number of them while trying to get information concerning the market prices. However, there are some things you should always do to avoid falling a victim. When done, you will always make a profit from the sale.
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1. Make sure you are not predictable. Brokers are investors like you and they are looking for any opportunity that comes their way in order to make money out of it. If you give them sensitive information that they can use against you, it is obvious they will make much out of you. That is why you need to be very careful about the information you give them. For instance, when you want to make a sale, first make inquiries concerning the buying price. Pretend you want to buy coins from them. Through the information they give you, it will be hard lower the buying price so much. This is because the difference between buying and selling should be logical. This will show they are not overexploiting their customers. Through this, you will get a fair price for your coins. However, if you become predictable, they will definitely exploit you.
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2. Do not buy or sell the full amount. This is another mistake that a trader can make and incur huge losses. Whether you are in the business of buying or selling coins, always ensure you have not sold or bought the full amount. One broker might buy coins at a lower rate than the other. You may end up realizing this when it is too late more so if you sold all your coins. This is not different when it comes to buying coins. You may buy coins at a higher price even beyond retailing market price. This will take a long time before the regular prices rise to a level where you can make profits. If you bought the full amount, you will have no other option than incurring losses. However, this will not happen if you bought a certain amount of coins.