Have you ever wanted to start trading stocks, Forex or commodities? Would you like to be a part of the next "Big Short"? Well you can do so quickly and easily with bitcoin on 1Broker.com. 1Broker has been around since 2012 which in the world of bitcoin seems like an eternity. They allow you to trade with something known as Contracts For Difference which basically means you pick an entry point and an exit point or a buy and a sell order at different prices and collect the difference.
From CityIndex.com.sg:
A CFD, or Contract for Difference, is an agreement between two parties to exchange the difference between the opening price and closing price of a contract. You can use CFDs to trade and speculate on the price movements of thousands of financial markets regardless of whether prices are rising or falling.
Since they use bitcoin you can deposit and withdraw quickly and easily with minimal fees and no taxes. The minimum position you can take is as low as 0.01 BTC which makes just trying it out highly affordable. Let's get started, in a new tab head on over to 1Broker.com
Click on the 'Create Account' button and fill out the form. You will have to validate the email address you enter by clicking the link they will send you via email after you've completed the signup form.
After you have created the account and validated your email address you can login and should see their home screen
Click on the 'Deposit' button on the right hand side of the home screen. It will give you a bitcoin address to send some bitcoin to in order to fund the account. Send as much or as little as you feel comfortable with. You should see the deposit pending within a few minutes of sending the bitcoin. Seeing that it is bitcoin it can take a little bit of time for it settle. Anecdotally I've found it usually takes about 30 minutes before your deposit is confirmed and you can start trading.
Now let's do an example order. Click on the 'Indices' button and we will see a list of the various Indices and their current bid and ask prices.
Let's do a simple example of a 'Short' of the S&P 500. A short means you are betting against the S&P 500 (American economy). It means you are going to sell S&P 500 index fund shares before you actually own them and when the price falls you will buy the shares to fulfill your order at a lower price than you sold it for. Of course if the price goes up and not down you will still have to fulfill your initial sale except you'll have to buy it at a higher price than you sold it for and will incur a loss.
Here is an example of a limit order. What a limit order means is that you will only enter a position if the market hits your limit price. In this example I've set a limit of 2170. If the S&P 500 goes up to 2170 my order will be executed and I will sell .01BTC x 20 (the leverage option is set to 20) worth of S&P 500 index fund shares at that price.
After you have submitted the order it will show up as an open order. You can cancel this open order at anytime before your price is triggered if you wish to change it.
If you had chosen a market order instead of limit it would automatically execute an order at whatever the next market price is. When your order has been triggered it will become an open position and that means you have some skin in the game. You are now on the hook to close that order, hopefully you will close it at a profit and not a loss. Here is an example of some open orders, since I didn't have time to wait for the S&P to hit 2170 and continue using our example form above I will show you some open Forex orders I had at the time of writing this.
You can see I have a few different positions open some are in profit and some at a loss. These numbers will continually fluctuate as the market price changes. You can click on the blue arrow next to any open position. On this screen you can set a 'Stop Loss' and 'Take Profit' the stop loss is there to protect you should things drastically not go your way. If the stop loss number is hit the trade will automatically close. The take profit works the other way in that it will close the position if the market hits a certain number in profit. It is highly recommended you use these since timing it manually can sometimes be impossible to get the best profit. You can also click the red 'Close Position' button at any time to close at the next market price.
There you go, quick and easy you can be trading the markets using bitcoin on 1Broker.com. If this interests you come on over to SteemSpeak and we can help you out over voice chat. There is almost always a trader or two in the room and everyone is friendly.
PS: Those open positions used in the example hit their take profit numbers and all closed for handsome profit while I was away from the computer. Always set your stop loss and take profits if you aren't going to be there to manually close a position.