Trading Bitcoin CFDs (Contracts For Difference)



good evening ladies and gentlemen this is Barry Norman on behalf of ETX capital and welcome to our class about Bitcoin now before we get started as most you know etx is a regulated provider regulated and improved by the FCA of the UK regulator so I'm required to give you a risk warning so let me read it and get it out of the way trading product on margin carries a high level of risk and may not be suitable for all investors and it as it may result in a loss that rapidly exceeds your deposit please ensure that you fully understand the risks or seek independent advice if necessary ETS Capital provides an execution only service and therefore any market analysis opinion commentary or other information which providing this webinar is for educational purposes only and is not intended to be a personal recommendation or construed as advice and in this particular class I'm going to emphasize that because we're going to be looking at Bitcoin tonight but we're not going to be when we look into charts we are not looking at or predicting where the Bitcoin price will go nor am I giving you trading advice or any trading recommendation okay if I could look at an old chart and talk to you I would but we're using the platform where the charts are all up to date but please I'm not giving you a recommendation a trading advice we're only talking about general concepts of Bitcoin so all traders must understand that there is a high element of randomness to the markets therefore they will experience both winning and losing trades while following a trading strategy it is essential that the the use of the strategies combined with responsible money management and risk management during different traders following the same strategy will achieve different levels of performance and there is no guarantee of profitable trading past performance is not an indicator of future results so let's go on and talk about Bitcoin now I will make that we will be in the next few weeks and I don't know what day because we're waiting for the regulator's approval and we're waiting for risk management and everything that all come together but we will be launching several other crypto currencies and you'll be able to trade the I think it'll be the five largest crypto currencies on a platform so you'll be receiving notice when it's live and will be then adjusting the webinar once they are live to talk about the other major crypto currencies in the marketplace and evaluate them now before you can start trading Bitcoin or the other Kryptos you have to understand a little bit about what they are this is because you've read something in the headlines in the paper doesn't mean you understand this asset class because it is different than any other asset class that we've ever had before now cryptocurrency is a digital currency recorded in a ledger of accounts and transactions between peers using a system of verification and encryption we call this the blockchain and most of the reason we see all this president light is that the adoption of blockchain in many other uses is becoming fairly commonplace and blockchain technology which is an integral part of the overall budget of Bitcoin is becoming more and more well known and more and more accepted for many other types of secure transactions now these transactions are made by sharing public passwords attached to private and encrypted digital wallets each password relates back to a block of transactions on the digital ledger and represent a specific amount of digital coins but that doesn't explain much does it so let's try again cryptocurrency is essentially a digital ledger of transactions secured by cryptographic codes that act as a decentralized currency which can be exchanged between peers by sharing public passwords that relate back to digital wallets okay let's write it again the coin is a decentralized currency created in 2009 that uses decentralized technology for secure payments and storing money that doesn't require banks or people's names it was denounced on an email circular as a way to liberate money in a similar way to how the internet was made now this does leave a lot of people confuse so I tried to use this explanation I don't know if I doubt if any of you as old as I am but if you are you remember back in the good old days when if you wanted to buy your husband your wife you know your neighbor your boss a gift a lot of times we didn't know what to buy and we would go into either our favorite store or their favorite store and we would buy didn't have such thing it's gifts gift apart we would go in and buy a gift certificate we would hand the cashier $50 and they'd had us back the certificate that just said it was good for $50 there was no record of it if it got lost that was the end of it there was no way to transact it nobody Nestle owned it you know you might be out of write in there too to bury but bury could give it to his grandson in his grams like he gave it to his girlfriend and you would go and so and in most cases in the old days if you spent most of it you spent forty seven dollars they'd hand you back three dollars in cash because there was no computerized records and there was no digital records as time move forward we got more advanced compute so these gift cards had a barcode or a number on them and whenever typed into the computer I'd register and they were purchased there became some record of these but not much we then progressed a little farther in technology and the stores would start giving us gift cards and they'd you know read the tab on the back of the gift card and issue it to you and they're not you know they had the barcode on the back and you've run it through the store in a register just like a credit card basically and the store would keep track so if I gave you $50 and I spent twenty two it was show that I had a balance of twenty three dollars on or $27 on the twenty eight dollars on that card and I could come back several times and user using different departments before that it was a one-shot deal well now we moved up to the age of the Visa gift card now these Visa prepaid gift cards have nobody's name on them they can't be tied back to person and they store the money digitally because you gave the clerk $50 they put it into the computer the computer sent it through the visa network and the visa network sent it to the bank and there's a record and you can take those B as a debit card this prepaid and use it anywhere and imagine that that's what big coin is but the fact is Bitcoin isn't accepted anywhere so if you could use this Visa Card almost anywhere you know but all the money isn't stored is stored in an encrypted digital fashion because there's no cash and you can't get cash back but you can trade it for goods and services you can sit on it and accumulate value I mean some point sometimes I've had eight and ten gift cards in my desk drawer because people gave them to me over the holidays and it went through a network so every time you wanted to use it when you the person uploaded the money it went through a network and when you use it it good in this case it went through the visa network they in the in the Bitcoin er it went through the blockchain but the blockchain since it is a private network of decentralized transactions there is nothing there's no visa network so this network is a cryptographically encoded system that's almost similar to the visa network of L credit cards you know a lot of different take not technologically but when you want to go buy your Bitcoin you have to go to in exchange you give me your credit card with some way another you have to get into this gift card or this digital and so you go to an exchange where you trade fiat currency which is dollars euros pounds for a Bitcoin you then can pay bills through Bitcoin just like you could with the visa card and you can transmit them instead of being on your Visa card they're stored in your wallet it's a digital wallet the difference is when you buy your Visa card and put $50 on it the $50 isn't going up and down in value erratically and when you're going to use it you want to go buy with that $50 you want to go to Nike and buy a pair of shoes those shoes you look at and there were 47 dollars you know three months ago or probably still 47 dollars now or 48 so it's not erratic and it doesn't have huge volume and volatility and this is one of the biggest differences because currencies issued by governments are tied to governments and economies and they can't allow them to have huge moves and that's why we central bank's controlling the value of those currencies because you can't have crazy inflation and you can't get paid on Friday and go to the grocery store on Saturday and find out your paycheck doesn't cover anything but it's a difference when you have a digital currency like Bitcoin or all coins now a digital currency used to make payments of any value without fees see it runs on the blockchain a decentralized ledger kept running by miners whose powerful computers crunch transactions and are awarded or rewarded big points now that statements kind of a fallacy because when we started with all coins or bitcoins and cryptocurrency the whole idea it is disrupting the finance industry and especially banks and it will have no cost but that's kind of gone out of favor because now every Bitcoin transaction has a minut cost it doesn't cost you anywhere near what the bank charges you to when you want to do an overseas transfer but it's still not much more than then these are charges a merchant when they're swiping their credit card through and processing the payment through their network and these Bitcoin charges are slowly eking up because these businesses whether you know what the wallets the store these coins in they're using the pea have to survive they have to make money so how do they make money they make money by charging transaction fees now this is one of the reasons that Bitcoin or most digital coins are not becoming successful currency replacements as everybody would predict they were because they're volatile they're getting a little bit more expensive and they're complicated to use so in my opinion in most of the people's opinions in Bitcoin is not or it and these digital currencies are not going to replace the use of the dollar and the euro and the Powell it's not gonna be placed you paying bills I I tried to pay for something the other day with my Bitcoin and I you know I went to store I check on this and I it says oh we accept Bitcoin payments and so I said okay I'll use my bitcoins I got my Bitcoin sitting in a wallet that just sitting there that was just a couple bucks and by the time they told me to scan the QR code and go over to my wallet and feed that into my computer and get it back and then it comes back and says his code is not valid you know it was just like well it would have been half as much time to type in my credit card number put my paypal number it no it doesn't have the ease of use those have the anonymous use but it doesn't have the ease of use now cryptocurrency is a form of digital money that is designed to be secure and in many cases anonymous now these were the two advantages anonymous and secure we're noticing with all the hacks of the exchanges in the wallets it's not so secure now the blockchain is very secure every transaction every ledger is publicly known and all put out there so it is the coins are secured now the anonymous becomes another story because in order for you to get a Bitcoin you have to you get something to get the Pickler now sure I could go down to the street dealer and say to the guy on the corner you know here's two thousand dollars or five thousand dollars or seven whatever it is give me a Bitcoin and he'll go into his mobile phone and move that Bitcoin to my wallet I can have a wallet that's completely anonymous I can make a transaction as completely anonymous but in order to get into this chain of events and get that first Bitcoin I have to go through an exchange I'm either gonna use a bank wire or SEPA a credit card and then they're required to get my name my identification to stop fraud start so so now that I've got ten bitcoins I can do whatever I want with them anonymously but it still got tie back to me now it is a currency associated with the internet that uses cryptography and the process of converting legible information into an almost uncrackable code to track purchases and transfers cryptography was born out of the need for secure communication in the Second World War and it was evolved in the digital era with elements of mathematical theory and computer science they become a secure communication information and money online payment system now Bitcoin works on the public network called the blockchain to create bitcoins users must generate blocks on the network each block has created cryptographically by harnessing user's computer power and is then added to the blockchain letting users earned by keeping the network running we refer to these as miners ok miners make a ton of money they're the ones moving the blockchain verifying the transactions and they're being paid in small parts of new bitcoins so there is a limit to how many bitcoins can be created and is built into the system because that's why cryptocurrency has value because we have supply and demand we know exactly how many bitcoins can ever be issued because if we did and they could just keep issuing bitcoins forever you couldn't get a value on the Bitcoin because if you have no supply so you couldn't create demand so the maximum amount is just under 21 million bitcoins and there are currently a bit more than 15 million bitcoins in circulation but just like any other currency from the US dollar to the money in your PayPal account currency primarily has a value because we all agree it has a value meanwhile secondary factors include a limited supply a demand for its use value in an economy that accepts it in the terms of the exchange value because there's work behind it so the same is true of cryptocurrency it has a little inherent use value with the same being true of a bank credit in a bank account but in nonetheless it has value in modern economy now all of this is only important if you're gonna get into the game of Bitcoin and it's really more important if for you to get into the side of owning bitcoins investing in bitcoins and maybe even arbitrage thing and dealing with exchanges and trying to understand know what your the value is this is like fine gold if you're gonna buy gold and put it in the CL put it away in a safe deposit box or put it away in a big old storage facility you need it to go up in value over time and you need to understand all the factors that affect gold and you just want to put it away because it's a long-term investment now the difference though that has made Bitcoin phenomenal to CFD traders is that Bitcoin has high volatility and what is volatility to a CFD trader trading a TTX well because for CFDs you can sell or buy and you don't really care what the long-term value of Bitcoin is UK their bitcoins down at a low support level today and you can think it's going to bounce up to his resistance level and you think is gonna pick up a couple hundred dollars today okay or it bounced up too high and it's going to get a little bit lower today and this is what trading on ETX is beneficial for you now the thing about Bitcoin is it becomes difficult to predict prices because number one it's new and as you know trading and a lot of take the technical analysis is based on historic price movements now in the last few months yes we've seen it soar up to 20,000 drop down to seven go back up to ten and hang around around 11 so we have a lot of short-term information about what price levels could be important but because also Bitcoin doesn't respond to the normal economic cycle it also isn't part of a government and a political system and it's got very odd news that does affect this value but it doesn't it's not like an economic event that the jobs report comes out better than expected or the Bank of England comes out with a higher inflation report or Theresa May says something about breakfast doesn't help us trading cryptocurrency now the ever-widening of availability of Bitcoin news has created a tremendous amount of interest in the value of the currency but it also spreads uncertainty the trading market and cryptocurrency can fluctuate up and down depending on the character of the news being spread on social media so this is important to understand it's less about online news and headlines and more about the social media and the social community because bitcoin is connected and cryptocurrencies are all about social media and their own communities so a widely shared story that claims in exchanges have been hacked for instance if seriously depress the price of Bitcoin in fiat currency or when the regulator's start talking about something or the government OSA blocks in exchange but the fact is if you're trading crypto against fiat currency you see the difference but it's not necessary gonna have the same difference on Bitcoin against aetherium because of the whole Bitcoin the whole cryptocurrency market Falls because of some hacking news it's it could university affect all the coins so Bitcoin against aetherium is hard to predict now the dollar goes up in value and when the dollar goes up or down a value it doesn't even have the direct effect on the price of the cryptocurrency against the dollar like it does if you're trading gold in dollars or the Euro cross the dollar but social media does have played a vital role in pricing and value encrypted currencies like Bitcoin the spread e the speedy sharing of information has even allowed traders in some situations to exit the market before losing too much of their investment in Bitcoin however certain tools can result in the purchasing of likes and can skew information but when we're going to look at trading Bitcoin we should be more aware of social media and less about headlines so remember there's a big difference trading CFDs contract for difference with etx than there are is then there isn't buying a coin now remember the other thing you have to keep in mind at all times that the transaction fees are purchasing a Bitcoin from an exchange are prohibitive now there are many different kind of exchange you have to learn what they are but most exchanges but even if you're doing a peer-to-peer exchange where you're buying it directly from a seller who's a guy who bought the Bitcoin you know he's charging you top level price and then you're paying the exchange in transaction fee and the transaction fees run from five to ten percent of your transaction I mean they're disclosed on each exchange but just imagine if it's costing you 5% on a $10,000 purchases of one Bitcoin guess what that just cost you a lot of money cost you five hundred dollars for that purchase that means bitcoins got to move $500 in your favor but in order to sell that Bitcoin you got to pay another transaction thing so if bitcoins got to move to eleven thousand for you to benefit on an exchange so we're going to go over the platform in a minute but remember C f d stands for contract for difference its class as a derivative basically you never actually own the underlying asset so when you're trading Bitcoin against the dollar Bitcoin against the pound Bitcoin against the euro on the etx LeFort you're not buying anything so you're simply buying and selling based on the BIS price but there is no transaction fee so it works just like regular trading if you open a buy or long position the price of the asset Rises you make the profit if you open a sell or short position the price drops you make a profit but this is one is also the biggest advantage is because when you're actually investing in Bitcoin through an exchange you can't sell you can only sell what you own so first you would have to buy here in CFDs you can sell if you think the price is going to drop to buy it back when the price drops or close your trade and make the profit in down movement now as you know see if these have been around a long time and our common investment product but only recently as ETX start offering CFDs for bitcoins so why trade Bitcoin through a CFD and not just by himself through an exchange so remember Bitcoin see if these allow you to trade movements in the price of Bitcoin without owning or purchasing Bitcoin this is useful because you do not have to worry about security issues regarding Bitcoin such as encrypting your wallet downloading a backup etc when trading see if these there's no need to purchase the underlying asset this makes an investing in Bitcoin safer for those worried about the security a Bitcoin and for those who do not want to set up a wallet or don't want to understand purchasing in the exchanges so traders can speculate and make money on large price movements without needing to know how to acquire and store Bitcoin and you're only using the same account you're using for trading also another benefit is that you can buy or sell bitcoins at exchanged prices trading in Bitcoin directly means you would have to sign up for an exchange and purchase bitcoins at a markup from the market price trading CFDs means you can buy or sell at the market price and gain more from large swings in either direction you can also use limit orders Osio orders stop-loss orders take profit orders so you have lots of these benefits because in the other in other markets when you own that Bitcoin you have to go online into an exchange and put it up for sale the most the place you're putting up for sale it's either a peer-to-peer network or a straight exchange and you're just selling it at the price they're offering what the price are offering is not so good – you don't want to sell it you're gonna come back later or go to another exchange with CFDs you don't have that problem see if these you know what the market price is our you can place a limit order to sell your your Bitcoin err to buy your Bitcoin at a specified price in a minute a hits that price you'll you know your transaction be opened or closed so if you believe the price of Bitcoin will drop you are able to short the currency by opening a sell or short position this is something you cannot do when you're actually holding have to hold actual Bitcoin as a trader it gives you much more flexibility when it comes to your trading strategy you also have speed of execution which makes a big difference because sometimes exchanges are very slow today the the transfer from the exchange to your wallet can take as much as fifteen minutes and you have to go get your kyc you know you know your your client and do all that documents get everything approved each with each exchange every time your wanting to do something add on top of it on trading CFDs you get leverage now leverage allows you to control a larger portion of the market with a smaller amount of capital skilled traders will be able to use this to their advantage and even when the markets are going up or down now of course leverage does increase risk and this is definitely something to watch out for now let's go over to the etx platform and i'm going to show you simply how we or easy this is to do so hold on let me get that up on your screen so we're looking at the live etx platform right now now I've flipped over and if you're not sure how to use the new platform the new trader Pro platform we offer our class once a week or you can contact customer customer support and they'll show you how to change your settings so like here right now I'm using the light background so a lot of you will see that your platform is blue everything is black you can change your color theme I use the light I like white background this is just personal choices the new the new trader Pro allows you to do and customize anything now if we go up here on the left or under our asset window we can just simply click on cryptocurrency and it'll bring up all the cryptocurrencies now what I do is because I can't stand everything flashing all over my screen I've set up two watches which vary Bitcoin and various kryptos and this is just because especially for class if I click on Barry's Bitcoin I have the three Bitcoin price up and you can see everything flashing blue and red sometimes it drives my eyes crazy and in class it's very very difficult but you simply can add your cryptos to whatever watchlist you want to have so that you can set them up any way you like and store them so you know view now what a business I use this Barry's crypto here for class where I only kept one asset in there because I don't want it flashing all over the place and I just keep Bitcoin US dollar so as you can see you can tray on our platform Bitcoin US dollar Bitcoin pound and Bitcoin in euros now you have to understand this is not the currency that you hold your accountant this is just the pair that you're buying just like the euro dollar you're trading or you want to trade the pound euro these are the pairs that you're buying or selling in the CFD because of the you're holding your weather because of that your encounters and pounds this your account is just the security for what you're buying in the CFDs so once we decide which from about we can see up here that we have the Bitcoin US dollar it's the low today was at 11,000 o 118 it's high today was 11,000 806 it's currently bid at 11,000 547 or asked at 11:00 852 well you see it's actually up $512 for the day and it's game four point six one percent on the right hand side I have my chart setup and I I a my personal belief okay again this is not trading but I believe the best way to tray Kryptos is with support and resistance levels see what prices were significant to the traders the last time price was around here and where they should go now and where they might fall in it so our system our charts and if you don't know how to use our charts you can come to again our class on how to master the platform and we'll show you how to set up your charts but under my charts I just simply put on my pivot points okay so I clicked on pivot point here and it's automatically put them on the charts for me now so we can see that we have a major support and resistance line here at 11 for for 82 for 88 and we have a resistance level here at the top blue level but again I'm not giving you trading advice tonight and if you're not sure how to do how to use support and resistance we have some great classes we have one class actually we have our three-part series which is first is reading chart the second is trends and trend lines and the third class and that is support and resistance and volume and will teach you all the different ways to get support and resistance how to combine it with volume and other indicators to make trading decision you see also my favorite indicators MACD so I've dropped that on the bottom of the chart here on the EDX platform and when I'm ready to figure out a buy or sell position now hypothetically cuz remember I can't give you any trading advice and I don't intend to I could open an order okay and say I want to buy every time Bitcoin falls 11/5 today so I can put a buy order in to buy Bitcoin at eleven five and I can put a sell order to sell Bitcoin at eleven eleven six whatever this is so we can see right now Bitcoin is higher than the buy area so we'd have to place in so we only want to buy it when it falls eleven five now let's say we're gonna be we're gonna trade one Bitcoin today okay and we can see right away now my account is held in pounds so these can see right now that my margin requirement is five hundred seventy nine pounds and we want to place a stop loss order because I can't afford to lose my money okay and where do I want to place this stop-loss well if I'm gonna buy at eleven five but I've got to give it some fluctuation room we can see that the markets up five hundred nineteen points but I got to give it some space so I'm gonna come to my next support line down here and say at eleven 340 and and I'm going to enter my order so if the market Falls down to eleven five is gonna generate a buy for me it's gonna buy me one big coin if it falls all the way down to eleven three forty it's gonna close out my position okay to cover my loss and I can also put my limit order in here to take my profit if it bounces up now the fact is I also want to open up a sell order every time it gets up here to eleven 850 or whatever my next resistance level is so I can open up all these orders or I can open up osios tell it if it bounces off of here open this one if it doesn't it goes up there and comes down sell you know do the opposite okay so we can have all of those it's moving faster than I can type in here so it's alright okay now the the whole idea here is that we can if we learn and if you come to our class on order entries and you learn all these we teach you all the different kinds of orders you can find that there's many ways of different orders you can place so that you can successfully buy and sell bitcoins as it moves up and down because again because there's Balham is constantly jumping up and jumping out you can find an entry point to buy because it falls to a low level like when the price fell just a little bit earlier today down here at eleven 250 you could have bought it when it hit the low level here which is right below its previous resistance level and you know told the system to sit you know to buy it grab it whatever low you want if you want to buy it at eleven five you got to buy it at eleven you want to buy it at nine thousand to Center it you can enter a good to cancel at eleven and nine thousand and when this system executes it you can then use the order entry system it tell it to take profit whenever it hits 11,000 and sell it or you put your stop loss at 8:5 because it down you know what are the chances it's gonna drop to nine thousand but if it does and we know it there's always that possibility with the volatility from Bitcoin you can take advantage of this volatility as well as the order entry system and learn to trade Bitcoin successfully now the thing about Bitcoin is e because it is so new there are many different ways and many different people hawking out there but it's one of the few assets you'll find that works extremely well with technical analysis now if you understand how to build your technical analysis now this is a perfect hand well here we're looking at Bitcoin dollar on a regular chart we're looking at a one-hour chart we see that bitcoin is just steadily moving up we see a small slightly up trend we see volume waning but we see a huge divergence in CCI and a huge divergence in RSI and the virgin's means the the indicator is making lower lows while the asset is trading in higher highs and moving the opposite direction so we would want to watch the volume for a breakout okay and keep an eye on these various divergence with the two indicators that might help us make a trading decision so Bitcoin does offers a lot of opportunities we just have to learn how to capitalize on those opportunities but now that we have it on the platform you have the ability okay I'm going to answer this one person's question this is not the proper class if you want to learn about technical analysis we have class on that but CCI is commodity index and commodity channel index and you can just as easily go onto your internet while you're sitting there on your internet and type in what is CCI and learn to read about it and what it's for so let's go back to my powerpoint for a minute so remember when you're trading when you are trading CFDs you simply pay a spread you're not paying the transaction fees and you're also trading a from a regulated broker and a regulated product so you know you're getting legitimate prices you're getting transparency you're getting the backer of a regulation you're using the same account you use for everything else and you know your funds are secured and you're trading in a regulated environment which is very very important these days now the difference again is you get to take advantage of downward movement so let's assume that you anticipate that Bitcoin would fall in value compared to the US dollar so let's assume that etx is quoting this spot foreign exchange for BTC USD between dollar and a selling price and as you know I did this I built this PowerPoint months ago when Bitcoin astray to email $3,000 range but the price of Bitcoin was 3607 and buying the price the buying price was 3609 in other words a Bitcoin is worth a little bit more than $3,600 you could open a short position selling 10 CFDs at 3607 the price falls and once the quoted buying price has dropped from 3609 to below 3607 you owe covered your spread and you start making profit so you close out your position when the quote felt of 3507 you would have made from 3607 – 3507 or $100 on each contract or one or thousand for a total profit of a thousand points on the 10 contracts but remember the risk is also magnified now many people who are interested in trading bitcoins fine see if these are much easier than dealing directly in the currency market if you want a to buy bitcoins directly you have to be concerned with security issues such as encrypting your wallets keeping a backup as always CFDs provide a tax efficient way of profiting from the change in the value of a financial instrument without ever having to buy anything so remember if you do not sure how to use our etx pro platform we have a weekly class on mastering the platform you can also contact customer support and they'll walk you through and help you answer your questions but get familiar with our newest platform and start trading for it and another thing is make sure you have a demo account because you can test this test trading you know you have a free demo account doesn't matter you know even though you have a real live Money account use a demo account chart and start trying to trade Bitcoin and start mastering it and use the charts on a platform use your demo account and see how it comes out you know you'll be able to execute it fairly easily and you know what when you're ready then you go to real money because that's one of the reasons you have demo accounts to learn and teach yourself try it out try to understand Bitcoin and see how you do so on that note I'm going to say good night to everybody I hope in the next couple of weeks you'll see the new five coins on there and then will be immediately holding a class on the difference of each coin and what's the difference between big coin and light coin and Bitcoin and ripple and why Ripple my coop all Bitcoin goes down and we'll talk about aetherium and and the different technologies they bring to the table okay so thank you very much and again thank you for supporting ETX and we'll talk to you again soon have a good night now bye and remember we have a very good class tomorrow I think we're I don't know what we're doing tomorrow but I knew I I don't remember but we have a good class this week bye now

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