Market volatility, am I right?
The past few weeks,
it felt like going to a theme park with a girl you want to impress in high school.
You're ready to do whatever it takes to look cool.
When your buddies want to go on a roller coaster called Heart Stopper that has a 95-degree drop,
you don't want to go,
but you smile like an idiot and use your sweaty palms to buckle yourself in the seat belt.
It's the roller coaster ride you never wanted to be on.
And that's been this price action in a nutshell.
But today, we're going to show you how to use butterfly trading on Bybit and Phemex
to put some of this volatility to good use
and add some gains to your portfolio
while you're on the roller coaster.
Let's get it!
Welcome to BitBoy Crypto!
Home of the BitSquad
The largest crypto community in all the Interwebs
My name is Ben.
Everyday on this channel, I show you how to make money in crypto.
If you like money and crypto, make sure to hit that subscribe button.
In this video, we take a look at leverage trading with Bybit and Phemex
and using conditional orders to butterfly trade the market.
Leverage trading is a great way to boost your portfolio
when the market is going down
or when the market is going up.
It's also something that hedge funds have been doing since they started.
And while I hate hedge funds with the burning intensity of the sun,
I know that managing risk while making gains is smart.
It's also risky.
So only do leverage trading with proper research and risk management.
And, of course, if you want to trade with Phemex or Bybit,
you can head on over to bitboycrypto.com/deals.
We have a Phemex and Bybit review on the reviews section,
but on the deals section, there are two different links you can click
to get to each site.
Each site has a great deposit bonus you can take advantage of by signing up.
And after this video,
I think you're going to want to sign up actually not just for one but for both trading sites.
So into the strategy.
When we don't know which direction an asset is going to go,
butterfly trading is a great way to get into a trade as soon as resistance levels break up or down.
In a butterfly trade,
we look at the chart and find a resistance level that an asset is bouncing off of on a bigger timeframe,
like the 1-hour or the 4-hour timeframe.
When an asset is hovering near a resistance point like we saw yesterday at $30,000,
at some point, it will break up or down,
and a butterfly trade takes advantage of putting you in either a long or a short.
This is done by setting two conditional orders,
one long position above the resistance
and a short position below the resistance.
Setting a conditional order on Bybit and Phemex is the same as setting a market or limit order,
but it sets a condition that a certain price has to happen for the trade to be triggered.
You'll see the option to set a conditional order right beside the market and limit order options.
With butterfly trading,
you'll be taking advantage of market movement no matter what and making gains along the way.
And I do want to make a clarification on shorts.
I personally don't short that often.
It's just not in my strategy for Bitcoin in a bull market.
But not everyone is in my situation.
If you're a retail investor like me and everyone else in the BitSquad,
then using shorts could make sense for your portfolio.
When retail investors use shorts,
they are doing it to make gains on a market they don't control.
When hedge funds do it,
it's usually to manipulate the markets,
drain their competition dry,
or simply take a business they don't like
because they didn't get sent a fruit basket one Christmas.
Yes, they are that petty.
If you're new to leverage trading, like I said, check out my Bybit and Phemex tutorial videos.
They're the best platforms to leverage trade on
and the ones we use to continue to make gains
no matter what direction the market is moving in.
And as mentioned earlier, you can get started trading on Bybit or Phemex
by using the link at bitboycrypto.com/deals.
We're also running a trading competition right now on Phemex,
so if you want to get in on the action, use the $200 deposit bonus
that we're offering right now for our Phemex deal.
You can actually view where we're currently ranked on Phemex
by checking out the trading competition.
But with leverage trading,
you take advantage of market movements the way hedge funds are doing it,
unemotionally making money when the price goes up and when the price goes down.
When you're butterfly trading, or any kind of leverage trading,
there's one rule that will help you to be successful.
Wait for your opportunity and be ready when it comes.
The way people lose money trading is they are impatient with trades,
and they go in without really knowing whether the market is going to make any moves
to the upside or the downside.
Think of trading as trying to move out of a part of the United States that has good weather
but is governed by hippies and has hordes of homeless people urinating everywhere,
a place that, I don't know, maybe rhymes with "faults and jellies"?
Just hypothetical of course.
Bad trading is standing in the middle of the interstate trying to hitch a ride.
Good trading is arriving at the train station early with your bags packed,
ticket ready and your phone charged.
You can get on any train when it arrives.
Anywhere is better than staying in LA-- I mean, some hypothetical place in California.
Add butterfly trading to the strategy,
and you can get on the train no matter if it's going to San Diego or Las Vegas.
That's a great thing if you want to get out of town
or, in our case, if you just want to make some gains.
When you're in the trade,
watch the volume.
It will show you how much steam the train has and how far it can go.
Low volume, and you might be getting off the train with profit at the next stop.
High volume, and you might be Arizona-bound with some big gains to show for it.
We can see a future trade that could be developing right now
when we look at the resistance of $41,000 that Bitcoin hasn't broken above
and the resistance of $30K that Bitcoin hasn't had a strong break below.
A butterfly trade for this scenario would be a conditional long order above $42,000
and a conditional short order below $28,000.
Using butterfly trading means making money if the price of Bitcoin goes above
or below those resistance levels.
And we're here for it.
When we leverage trade, we get to make use of the volatility in the market
rather than have it take us on a roller coaster ride we don't want to be on.
Leverage trading and butterfly trading give us more control over the market
and when done correctly can lead to gains.
Comment down below and let us know if you use Bybit or Phemex to leverage trade.
Have you ever used the butterfly method of trading
to take advantage of the market movement whether it goes up or down?
What's your top risk management tips that you think could help the rest of the BitSquad?
Make sure to drop those all down below and make sure to check out Phemex and Bybit
at bitboycrypto.com/deals.
Make sure to put a long in all those like buttons and subscribe buttons.
It helps us put this content ahead of the YouTube algorithm
so more people can see more videos about how to use market volatility to make money.
That's all I got.
Be blessed.
BitBoy out.