For beginners in the field of digital currencies and entry into
A trading world must learn the following:
1_Choose the trading style
Choosing a trading style that suits your lifestyle and personality is an important matter in cryptocurrency trading. Is day trading or medium and long term trading suitable for you? And if you are organized in your time and able to combine daily speculation with medium and long term investment, why not?
2_Market study
Do not invest in digital currencies unless you are convinced of them and the technology on which they are built (Blockchain) and after sufficient study of the market for a reasonable period of time.
3_ Providing liquidity
Do not enter into digital currencies with money that you may need to withdraw at a time that is not consistent with market events. That is, your invested money must be intended for investment only and in excess of your life needs, and you are prepared to bear the risk of losing it.
And do not forget to distribute capital well, leaving a percentage of cash liquidity in anticipation of any sudden, violent decline, to exploit that in buying at low prices to contribute to reducing losses and thus creating averages.
4_Choosing platforms
Choose excellent platforms that have a good reputation.
Like BINANCE. and others.
5_Selecting projects
As for choosing currency projects, it is very important to choose an excellent project, but the most important thing is to choose the project’s work team because when the market is green, most projects rise, but when the market declines, here the importance of managing a strong team appears.
6_Use a low-risk, high-profit trading method.
Better risk management, the only way to make a profit is to control the risks. (Don't put all your eggs in one basket by buying a number of currencies that you can track)
Don't fall for rising currencies even if the company is promising (we look for opportunities and don't ride the wave)
7_Know when to sell your coins
Most of us focus on when to buy currencies, but few of us think about the best time to sell them, so you should not let currency gains disappear due to negligence and greed... Plan ahead before entering and know the specific conditions that indicate the exit time.
8_ Large currencies are not always an excellent investment. In most cases, large currencies, and here I mean currencies that have reached very high prices, lose their ability to achieve large returns. Therefore, you must search for other opportunities that have not yet been discovered.
9_Continue learning, it is the main key to success in the digital currency market.
A trader in the digital currency market should continue intensive education and not feel frustrated, as learning to invest does not happen overnight, as it takes time and great effort to become successful.
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