How To Sell Cryptos Short On Kraken And Why You Should Be Doing It!

How To Sell Cryptos Short On Kraken And Why You Should Be Doing It!



Remember to Click the Bell on our channel page, so that you start getting notifications from us again!

Today were going to be looking at something that I’m very passionate about: going short! More specifically, going short with cryptocurrencies. In a market that seems to be utterly plagued by endless chants of “HODL” as people watch their profits slide away, one has to ask; why the heck is everyone long during a bearish market trend!?! I get the concept of holding onto coins that you believe in, but to simply ignore the market in hopes of an eventual moonshot seems short sighted at best. This little tutorial is going to help you separate yourself from the endless sea of crypto HODLer’s. We’ll cover a bit about why going short is an essential tool for any cryptocurrency trader, what going short really is and how it works (more on margin calls, leverage, and liquidation coming in another video!), and then we’ll get right in there and show you how to open up your first short position trade.

I know there’s many a crypto enthusiast that won’t be a fan of this statement, but seriously the HODL mantra of the crypto community is not trading, and for the most part I’d say it’s generally unproductive. The markets (prices of the cryptos being traded) should be representative of the general public’s opinion of whether or not a given company or project is doing well. People feel something is doing well and will go up, they go long. People see a project messing up, they go short and bet against it. That balance helps keeps the market prices as a more accurate representation of sentiment. In a sea absolutely packed with long positions, generally being trade against bitcoin or ethereum; the market prices of smaller cryptos suffer a severe lack of autonomy. While more pairs offered in base fiat currencies will obviously help, people holding short positions can also help level the field a bit.

Another key point about going short is that its a great way to bolster you’re portfolio! In bearish markets you can short a currency, and then at the bottom take your profit and buy back more shares for yourself!

Now, although the number of crypto exchanges offering the ability to go short are more limited, there are a still a number of them out there such as Bitfinex, Poloniex, and my preferred exchange (for going short) Kraken! We’ll see that opening up a short position is a relatively simple task, and provides a much greater level of flexibility in the management of your portfolio! We cover both opening and closing the position today, but we will be covering the more intricate details like settling vs closing and other info on margin trades in another video. Hopefully you find this useful and can take the leap to opening up your first cryptocurrency short position!

Is there more you’d like to know about going short, or a trading/crypto related topic that you’d like more info on? Let us know in the comments, were always looking to give our followers new and helpful information!

And be sure to check us out over on steemit, the social media blockchain! We have tutorials, informationals, and reviews, along with in depth technical analyses breaking down our methods for trading! https://steemit.com/@cryptoplayhouse

Use the links below to access to some useful tools in the crypto space and our other social pages.

Open an Account and Start Trading Cryptos on Binance:
https://goo.gl/8GYe82

Protect Your Cryptos with a Trezor Wallet:
https://goo.gl/XtrCJv

Access the Pro Version of the Tradingview Platform:
https://goo.gl/5E3j6h

Our Trading Analysis on Tradingview:
https://www.tradingview.com/u/cryptoplayhouse/

Follow us on Steemit (new page):
https://steemit.com/@cryptoplayhouse

Follow us on Dtube (new page):
https://d.tube/#!/c/cryptoplayhouse

Follow us on Instagram:
https://www.instagram.com/cryptoplayhouse/

Follow us on Facebook:
https://www.facebook.com/cryptoplayhouse/