I joined this forum today....glad I found it okay, I am intrigued by BTC. I have watched it all year and WOW! I know nothing of how to trade it. I have a futures trading account with a US broker. Are you just buying it like you buy shares of common stock? Are there options? or any other leveraged way to play. I want to find out, so that I can trade it on any correction. I just watched it go from 4000 to 2000 and now over 4500
There were some news that that CBOE may carry this contract, but I am not aware of a specific date of launch. I assume it is pending CFTC approval. If this happens it would allow you to trade the product via a regulated exchange.
ok,,,, but for now how is it traded? do I have to open an account on a foreign exchange? am I buying it dollar for dollar?
Too later for you. Its already went to the moon, and making any long entry is risk as BTC fundamental support is running out of ammo. Better to focus on some promising alt. coins as sometimes they offer some intriguing or revolution technology, you just have a tech eye to make correct appraisal. You can try to catch the knife on btc, though. Hotforex offers BTC trade (both short and longs) with 1:5 lev. Spreads are acceptable
It went from $3000 to high $1500's but not $4K to $2K, yet. It's been hitting all time high almost everyday this week. I bought bitcoin when it was much lower but no way I would buy it at this price. [I still think it goes to $10K but not this soon or this fast] If you really want to own bitcoin, though, you should buy and store on a wallet you own the private keys to. These exchanges could disappear overnight. Good luck.
as I said in my post.... I want to know how to trade it... if there is another correction like we just had. No, I would not go long at this price... please someone explain how it is purchased
You'll have to do some legwork. Here's a big list of exchanges. Folks here might be able to give you recommendations for a particular exchange based on their experiences with them. http://planetbtc.com/complete-list-of-bitcoin-exchanges/ Edit: Just found this site that showcases leveraged brokers. http://margintradingbitcoin.com/