The entire business model of the Digitex Futures exchange has always been focused on creating more winning traders. By introducing a zero-fee platform powered by the DGTX token, we’re making trading strategies such as scalp trading and swing trading profitable. It was a big vision, but we now know it’s working. Here, some of our mainnet traders share their success stories and insights.
From Investor to Trader
Eoghan has been a supporter of Digitex since the ICO, although he wasn’t a trader back then. In the time since, he spent nearly a year and a half learning everything he could about trading, but he still couldn’t turn a profit using his chosen short-term trading strategy. He explains:
“Using an infamous exchange, I managed to blow up three trading accounts before adjusting my risk level. This brought my win rate up significantly – but to my dismay, I watched as slowly over time my account balance was eaten away by commissions, which hit me particularly hard as an ultra short term trader.”
So for Eoghan, using the DFE, is an absolute no-brainer. But circumstances provided him with an additional incentive. In mid-April, he was put on furlough from his job due to the pandemic.
“I took this as a sign and decided to dive headfirst into trading full time on the DFE – I was determined to never again have to rely on the whims of others to put food on the table. Starting back with a real money account on the DFE, I began with much smaller position sizes, and immediately found myself profitable. Since the beginning of mainnet, I have managed an increase of over 107% on my total trading stack.”
Eoghan is now laser-focused on developing his skills to the point that he can gain financial freedom through trading.
Another trade, who chose to remain anonymous, shared this astounding success with us:
From 12,000 DGTX to 2.3 million represents a staggering return of 19,000%. How did he achieve these kinds of results? He has a few tips for anyone wanting to replicate his success.
“The main benefit to using the DFE is the ability to scratch if a trade looks like it’s going against you. Patience is the key, waiting for the right moments to enter a trade, or waiting for a trade to be filled. But always be ready to switch positions if needed. Don’t get too attached to any trade, hoping that it will work out. Admit when you’re wrong as soon as possible, take the loss and move on.”
He also explains how zero-fees can help drive better decision-making when trading:
“Commissions limit what strategies a trader can follow. They can lead to poor decision making. On DFE a scratched trade is a scratched trade. There’s no extra penalty. This can really help psychologically, especially if executing a lot of trades throughout the day.”
From Betfair to Bitcoin
In canvassing traders to share their success stories, we heard from a few people who came to the DFE, not through the crypto scene, but because they had previously used Adam’s trading ladder on Betfair. For the benefit of the uninitiated, Adam used to be a sports betting trader, and he originally developed the ladder trading interface used by Digitex as an app for Betfair users.
Some of the guys using the Betfair ladder were apparently such a fan of it, they’ve now joined the DFE to reap the benefits of zero-commission futures trading.
Paul has been seeing consistent profits of around 3,000 DGTX per day, which he believes could increase even further with the deeper liquidity of more traders. He’s achieved this using the same technique he used with the Betfair ladder – by looking for gaps in the ladder driven by volatility in the spot price.
While he also looks for support and resistance in the one-minute and five-minute charts, he shares Adam’s view that scalping is as much about reading the markets as reading the charts. He told us:
“Scalping doesn’t have to be strategy-oriented trading. You just need to be quick enough and take the loss as quickly as you can in order to be successful long-term.”
Paul also thinks it’s high time that crypto traders start demanding a better user experience.
“I was never excited to trade on crypto exchanges because the UI was so inconvenient. That’s why when I heard of Adam’s plans, I was really pleased that someone who knows the industry is willing to apply a simple tool to enable users to trade the markets conveniently. You know for us Betfair traders, the ladder is well known! And it’s funny that most people in crypto had no idea this tool exists.”
He isn’t alone. Mika is another trader who reached out to us to share his story, who also came to the DFE via Betfair. He actually runs his own Telegram channel now, where he posts his daily trading results from the DFE.
Very much a no-nonsense kind of trader, Mika also shares many of the same views as Adam when it comes to scalping.
“My strategy is simple. I trade small moves and cut losses immediately. No indicators, no charts. With the ladder, it doesn’t matter whether the price is for horse racing or Bitcoin – the principles of trading are the same.”
It’s a strategy that’s stood him in good stead, earning steady returns of around 15% each week.
Watch and Learn
Want to see our mainnet traders in action? Digitex contributor Cryptrader regularly shares live streams of his trading sessions over on his YouTube channels. Here is one from a few weeks ago, where he shorted a breakdown of support with more than 20,000 contracts, managing a smooth entry with ease thanks to the ladder.
As he told us:
“Typically, I wouldn’t be that aggressive. But the fact there is no fees means I can get out at any moment if it appears not to go my way.
Finally, trading doesn’t have to be effortful. Check out this trading success story tweeted by Daniel:
If you want to trader Bitcoin futures with zero fees, sign up here and get started today. A big thanks to all the DFE mainnet users who took the time to share their stories!