How to trade on the bitFlyer exchange? Graphic trading process

After verifying your account, you can deposit funds and trade Bitcoin or other cryptocurrencies on bitFlyer by following the steps outlined in their detailed trading process.

Oct 07, 2024 at 04:05 am

Step 1: Create an Account

• Visit the bitFlyer website: https://bitflyer.com/en-jp/
• Click on "Sign up" and fill in the required information.
• Verify your email address and phone number.

Step 2: Fund Your Account

• Login to your bitFlyer account.
• Click on "Deposit" and select your preferred deposit method (e.g., bank transfer, crypto deposit).
• Follow the on-screen instructions to complete the deposit process.

Step 3: Place an Order

• Click on "Trade" in the top navigation menu.
• Select the trading pair you wish to trade (e.g., BTC/JPY).

• Input the following information into the order form:

  • Order type (Limit, Market, Stop)
  • Side (Buy or Sell)
  • Quantity
  • Price (for Limit orders)

• Click on "Buy" or "Sell" to place the order.

Step 4: Monitor Your Order

• Your order will appear in the "Open Orders" section.
• You can track the status of your order, such as filled amount, remaining quantity, and average execution price.
• You can also cancel the order if needed.

Step 5: Withdraw Funds

• Once your order has been executed and the proceeds are credited to your account, you can withdraw the funds.
• Click on "Withdraw" in the top navigation menu.
• Select the withdrawal method and follow the on-screen instructions.

Detailed Trading Process

1. Chart analysis: Before placing an order, you may want to analyze the price chart of the trading pair you are interested in. Look for patterns, trends, and support and resistance levels to identify potential trading opportunities.
2. Technical indicators: Technical indicators, such as moving averages, Bollinger Bands, and RSI, can provide additional insights into the market's movements. Use these indicators to confirm or refine your trading strategy.
3. Order types: Limit orders allow you to specify a specific price at which you want to buy or sell. Market orders execute immediately at the current market price. Stop orders are placed to automatically execute orders when a certain price is reached.
4. Order management: Once you have placed an order, you can monitor its progress in the "Open Orders" section. You can cancel or amend the order as needed to adjust your position.
5. Risk management: Trading can involve risks. Use stop-loss orders to limit your potential losses. Manage your trading capital prudently and only trade with what you can afford to lose.