Before you start dreaming about any potential gains, it's important to remember that, on average, more than 80% of traders lose their money.

Furthermore, you should understand a popular mistake that most beginners make.

Many beginner traders try to get rich from one grand trade or a few lucky trades.

But that's not how trading works. And that's one of the reasons why the majority of beginner traders lose their money.

A more realistic daily gain goal is around 1% of your account size.

So, if you put $1,000 in your account, you could aim to gain around $10 per day. 

If you have a $10,000 account, then you could try to aim for a profit of $100 per day.

... and so on.

Remember that these are realistic numbers only for traders who know what they're doing.

Also, remember that if you make multiple trades per day, a big part of your profits might get eaten by the spread commissions.

Thus it's very important to choose a broker with low spreads. According to the latest comparisons, one of the regulated brokers with the lowest spreads is This Broker Platform. They offer up to 20% lower spreads on EUR/USD vs other top brokers like Forex.com, or TD Ameritrade.

Hmm.... $10 profit per day with a $1,000 investment?

You might be thinking that it's not much.

Actually, it's a LOT if you understand the power of COMPOUND INTEREST.

The secret formula to trading success

If there is a secret formula to trading (besides learning and practicing hard), it's this: 

SUCCESS = COMPOUND INTEREST + DISCIPLINE.

1% daily earnings might sound small at first, but it adds up over time if you keep compounding the profits and growing your account.

For example, let's imagine that you deposit $1,000 in your account.

As you can see in the visualization below, 1% daily compound interest from $1,000 would result in total earnings of $12,290.99 in one year.

Of course, this is just to illustrate the idea of compound interest. You would have to trade consistently every working day to achieve such a result, which is not very realistic for most people.

But you can always increase your account size if you're doing good and also go full-time into trading, so it's not impossible to reach and even beat this hypothetical target.

Theoretically, if you'd start with $30k, then the 1% daily compound interest could result in total earnings of more than $368k in a year. However, if you are expecting much bigger and faster gains, you will put too much in a single trade and most likely quickly blow your account. 

Even if you traded every day, aiming for 1% daily will never go smoothly, of course. You’ll have +3% days and -2% days, etc. 

But! This approach provides a more structured and sustainable perspective to trading.

It also gives you a target to strive for.
"Compound interest is the eighth wonder of the world. He who understands it - earns it.He who doesn't - pays it."Albert Einstein

Intermediate traders often make bigger gains at the beginning of a trading session when the markets are more active and then lose a big part or all their profits later in the day due to lower trading volume or overtrading.

Best traders try to hit their daily goal and then shut down their computers and go outside to clear their minds and reset for the next day.

#HotTrends $BTC #ETH $ETH #CryptoEducation💡🚀
#Write2Erarn #NigeriaCrypto

Cryptocurrency giant Binance finds itself in hot water as the Nigerian government demands a staggering $10 billion in compensation, citing allegations of currency manipulation and rate-fixing.
Nigeria’s $10 Billion Demand
Nigeria, Africa’s largest economy, has issued a hefty demand against Binance, accusing the cryptocurrency firm of tampering with foreign exchange rates, leading to a drastic devaluation of the Nigerian naira by almost 70% in recent months.
Arrests and Silence
Adding to the drama, two high-ranking Binance executives were arrested within Nigerian borders earlier this week. Despite the uproar, Binance has remained tight-lipped, failing to respond to inquiries from media outlets, including the BBC.
Cryptocurrency Landscape in Nigeria
Nigeria boasts one of the world’s largest cryptocurrency markets, with transactions equivalent to a substantial 12% of the nation’s GDP occurring in the year leading up to June 2023, according to Reuters.

Regulatory Framework
While cryptocurrencies are not illegal in Nigeria, companies operating within the sector are required to register with the government. However, Binance allegedly skirted these regulations, prompting scrutiny from authorities.
Market Impact
President Bola Tinubu’s decision to untether the naira from the dollar last year aimed to foster a more flexible exchange system. However, recent turmoil in the market, attributed to Binance’s activities, has forced the government’s hand in taking decisive action.
Suspension and Fallout
In a bid to stabilize the plummeting naira, Nigerian authorities have suspended several cryptocurrency platforms, including Binance, Coinbase, Kraken, and others. This move has caused frustration among Nigerian users but underscores the government’s determination to restore stability.

Money Laundering and Security Concerns
Beyond financial instability, Nigerian officials have raised concerns over the illicit use of cryptocurrency for money laundering and funding terrorism. The anonymity inherent in cryptocurrency transactions poses a significant challenge for law enforcement agencies.
Economic Fallout
The collapse of the Naira has exacerbated the country’s cost-of-living crisis, triggering protests against soaring food and commodity prices, alongside rising fuel and transportation costs.
#cryptopiannews #binancenews #Write2Earn‬ #NigeriaCrypto #TrendingTopic!

Amidst swirling rumors and speculations, Coinbase, one of the leading cryptocurrency exchanges, has refuted claims of receiving any directives from the Nigerian government to restrict its citizens’ access to its platform. The rebuttal came directly from Coinbase CEO Brian Armstrong, who stated via the social media platform X that there had been no communication or outreach from Nigerian officials regarding such directives.Coinbase denies disruption, counters allegationsAddressing a recent report alleging that the Nigerian government had blocked access to three prominent cryptocurrency trading platforms, including Coinbase, Binance, and Kraken, Armstrong affirmed that there had been no interruption in Coinbase’s services. Contrary to circulating claims, Coinbase products are still fully operational, with no restrictions on Nigerian users.This is inaccurate WRT Coinbase as far as I can tell.Coinbase products are still operating (no interruption)We haven't received any outreach or communication from officials in Nigeria— Brian Armstrong 🛡️February 23, 2024The controversy surfaced earlier this week when Nigerians took to social media platforms, particularly X, expressing frustrations over their inability to access preferred cryptocurrency exchanges. Reports suggested that the Nigerian Communications Commission (NCC), responsible for regulating internet service providers, had instructed telecom companies to restrict access to these platforms. The purported aim was to curb the depreciation of Nigeria’s local currency, NGN, which has been downward for several months.Despite initial concerns and speculation, no authoritative source has confirmed any government directive restricting Coinbase, Binance, and Kraken access. Moreover, subsequent updates from Nigerian users on X have countered earlier reports, asserting that these cryptocurrency exchanges remain accessible. Many users resorted to virtual private networks (VPNs) to bypass potential restrictions, further adding to the confusion.Government stance remains unclearWhile rumors continue circulating, the Nigerian government’s official stance regarding cryptocurrency exchanges remains ambiguous. Amidst economic challenges and concerns over currency devaluation, authorities have yet to issue a clear statement addressing the alleged directives. The lack of official confirmation has fueled further uncertainty within the cryptocurrency community in Nigeria.As speculation swirls regarding alleged government directives restricting access to cryptocurrency exchanges in Nigeria, Coinbase CEO Brian Armstrong’s denial provides clarity. Despite initial concerns, Coinbase users in Nigeria continue to access the platform without interruption. However, the broader implications of these rumors and the Nigerian government’s stance on cryptocurrency regulation remain uncertain. As the situation evolves, stakeholders await official statements to provide definitive clarity.While the controversy surrounding alleged restrictions on cryptocurrency exchanges in Nigeria persists, Coinbase’s refutation of such claims offers reassurance to users. Nonetheless, Nigerian authorities’ lack of official communication leaves lingering questions regarding the government’s stance on cryptocurrency regulation. …As the cryptocurrency landscape continues to evolve globally, stakeholders in Nigeria and beyond closely monitor developments, seeking clarity $BTC amidst the uncertainty.#NigeriaCrypto #nigerian #Write2Earn #TrendingTopic