3 Basic Tips For Currency Trading Success

[Michelle Jones]

Tip #1 - Make sure you identify your financial goals for trading in currencies. Do you have a daily or yearly goal you hope to achieve? Write it down and focus on achieving it. If you're brand new to trading in Forex and currencies then don't be overly ambitious and stay realistic, but don't be afraid to go outside of your comfort zone a bit either.

Tip #2 - Educate yourself as much as possible on how the markets work. There is a relatively large learning curve for Forex and currency trading so knowing the ins and outs is vital to being successful. Don't go in over your head before you get a chance to learn the basics and even some intermediate level strategies. This will save you a lot of headache and stress in the long run.

Tip #3 - Make a commitment to becoming profitable. Trading in currencies isn't for the timid or weak hearted and if you don't have the commitment to stick with it until you're successful you'll get trampled. Since trading in Forex markets for a gain is a competitive and often frustrating experience at first many people just give up. If you do this you'll fail and never become profitable but if you refuse to give up you can only succeed.

By the way I often read about Technical Analyst and Trading advice on this site https://academy.mtbit.com/. Just go for it

[Korkorjkk]

Wow this is the summary of everything a trader needs to be successful. Without a goal, you will sell of your coins when the prices are falling and you think you will run at a loss. Also in addition, select specific coins that you want to trade in and don't buy too much, at least 5 to 8 coins will do.

[seoincorporation]

About the second tip...

Tip #2 - Educate yourself as much as possible on how the markets work

Crypto markets are unpredictable and they don't follow a tendency, a good example is the clam dump we say the past weeks, it crashes from 0.0024 to 0.0005, lost close to 80% of its value and even the more expert don't see that coming.

[bluesnup]

About the second tip...

Tip #2 - Educate yourself as much as possible on how the markets work

Crypto markets are unpredictable and they don't follow a tendency, a good example is the clam dump we say the past weeks, it crashes from 0.0024 to 0.0005, lost close to 80% of its value and even the more expert don't see that coming.

Highly disagree. Crypto market is predictable most of the times but of course it won't be always accurate and there are some unknown factors that might destroy a token, that's why not everyone is rich right now but the fact that you can predict some changes is the reason there are a lot of crypto traders that earn comfortably by just doing that. If this was not the case then it's not trading and it should be called gambling.

If you are also a trader like me and enjoy trading alts, i recommend you to go for Switchdex.ag and get their whitelist which will allow you to trade without fees forever. I think you can obtain this whitelist at Switch.ag

[Michelle Jones]

Everything in this world works according to its own rules and of course crypto is no exception. It is no coincidence that there are Guides, Tricks or Tips made to master the candlestick chart and to predict the path of the BTC right? There is a website makes this very clear called MTBIT Academy ( https://academy.mtbit.com/ ) you guys can find out more Ultimate guide right there, thank you for having paid attention to my post <3

[samcrypto]

About the second tip...

Tip #2 - Educate yourself as much as possible on how the markets work

Crypto markets are unpredictable and they don't follow a tendency, a good example is the clam dump we say the past weeks, it crashes from 0.0024 to 0.0005, lost close to 80% of its value and even the more expert don't see that coming.

Therefore you really have to understand the market, and you don’t need to make any predictions just know the cycle and you can be good. Educating yourself about how can a market works in long term and how the market moves in the past is a must, we must continue learning. Prediction is not bad at all, it just happen that it’s not reliable source to trade for.

[Lawrenzoo]

About the second tip...

Tip #2 - Educate yourself as much as possible on how the markets work

Crypto markets are unpredictable and they don't follow a tendency, a good example is the clam dump we say the past weeks, it crashes from 0.0024 to 0.0005, lost close to 80% of its value and even the more expert don't see that coming.

Trade the right coin

[slaman29]

Everything in this world works according to its own rules and of course crypto is no exception. It is no coincidence that there are Guides, Tricks or Tips made to master the candlestick chart and to predict the path of the BTC right? There is a website makes this very clear called MTBIT Academy ( https://academy.mtbit.com/ ) you guys can find out more Ultimate guide right there, thank you for having paid attention to my post <3

Wow another academy with another ultimate guide. I keep thinking that these guys don't seem to work on the right logic. If you have a successful business that RELIES on making money from a few secrets, would you jeopardize that ultimate profit making guide just to have a few traffic visit your site or even just a few $50 subscriptions to make your plan public? You would be making your own profit not profitable.

There is no ultimate guide. If there was, we wouldn't have majority traders losing money.

[pundit]

I find it really hard to predict cryptocurrency market as compare to other financial markets like forex, commodity, stocks etc. In crypto market there are sometimes pump and dump schemes so technical analysis does not work properly.In my views either buy any valuable coin/token and HODL it for long time or if anyone wants to trade cryptocurrencies then money management rules needs to be followed.One needs to look for opportunities to enter in market and make a proper plan to mature the trade, exit the trade as per plan instead of getting greedy.

[leowonderful]

You should also have a trading journal for every trade you make, so you're able to analyze what you do wrong and right in a trade and improve based off what you yourself might lack and help improve the things that you're already doing well. It is extremely important to be actively learning as well through reading up on material related to trading, but by keeping a journal you will know what you've learned well and what you don't know as well. It does take a bit of time to make a journal entry for your trades, but it is also well worth your time to do so.

[milewilda]

Tip #1 - Make sure you identify your financial goals for trading in currencies.

Goals is important but dont over exert yourself too much because you would go overboard which would lead up to mistakes.

Tip #2 - Educate yourself as much as possible on how the markets work.

As you trade,learning something new would really be there and as far as it goes you would normally learn
,gain experience,getting some knowledge because experience and mistakes is the best teacher.

Tip #3 - Make a commitment to becoming profitable.

If you arent serious on everything then expect for results on not to be serious too.Being a trader isnt really that simple and cant be learn
overnight yet it would take lots of time.

[creeps]

About the second tip...

Tip #2 - Educate yourself as much as possible on how the markets work

Crypto markets are unpredictable and they don't follow a tendency, a good example is the clam dump we say the past weeks, it crashes from 0.0024 to 0.0005, lost close to 80% of its value and even the more expert don't see that coming.

Trade the right coin

There’s no right coin in trading, everything should be base on your Trading analysis. You can trade with shitcoins as well, though you have to know the risk of that and you can trade with top coins who moves more stable compare to other coin. Tips on trading is good if the trader is also serious, but this is not the end of your learning about trading because you have to study every night on which coin to trade, and what coin to sell for the next trading day base on your timeline.

[guoyu78]

About the second tip...

Tip #2 - Educate yourself as much as possible on how the markets work

Crypto markets are unpredictable and they don't follow a tendency, a good example is the clam dump we say the past weeks, it crashes from 0.0024 to 0.0005, lost close to 80% of its value and even the more expert don't see that coming.

Trade the right coin

No matter how qualified you think a coin is for trading, you still have to follow the policies and rules guiding trading which you must strictly work with and adhered to in other to make your trading experience and memorable one.

One of those policies is the right strategy, as cool as Bitcoin and some other top altcoins are for trading, without the right strategy, it will still be like gambling with trade, because all you will fund your self applying from time to time is guessing of figure using instinct which is very dangerous for a trade, but if we learn the right strategy, then we can be rest assured of having a wonderful trade.

[Babyrica0226]

Here are my tips and advise on which I think can be a tools to become successful traders in this field of industry.

1. First you must know what is your goal target in entering crypto trading.
    Like be specific on how many profit you are targeting this year.
2. While doing trade continue learning as long as you are implementing day trade
3. Don't be too emotional when you are in the actual trade platform, just always remember
    be determine and have passion in doing it.

[Cryptostudio.info]

Very important in trading is to always establish and set Stop Loss because without it is like a Russian roulette because a market movement is enough to lose your funds

[GreatArkansas]

~
Crypto markets are unpredictable and they don't follow a tendency, a good example is the clam dump we say the past weeks, it crashes from 0.0024 to 0.0005, lost close to 80% of its value and even the more expert don't see that coming.

If that kind of example will happen in some leveraged trading exchanges, it could be also a disaster, the additional tip could be a very important tool, the 'stop-loss'.

Stop-loss is very important because there will be always a next good set up for another trade. It's much better to lose a little compare to huge losses, $4 loss is much better to $40 loss. It is important especially now, there are already a lot of exchanges starting their leveraged trading feature which you can easily lose money and also easily gain money, high risk/high rewards.

[BitcoinHunt3r]

Control our emotion is good for trading, because all strategy can be done with read books or maybe look from any source of information. But control our emotion need more practice and sometime need a lot of experience to be expert on that thing.

[xamxam]

Tip #1 - Make sure you identify your financial goals for trading in currencies. Do you have a daily or yearly goal you hope to achieve? Write it down and focus on achieving it. If you're brand new to trading in Forex and currencies then don't be overly ambitious and stay realistic, but don't be afraid to go outside of your comfort zone a bit either.

Tip #2 - Educate yourself as much as possible on how the markets work. There is a relatively large learning curve for Forex and currency trading so knowing the ins and outs is vital to being successful. Don't go in over your head before you get a chance to learn the basics and even some intermediate level strategies. This will save you a lot of headache and stress in the long run.

Tip #3 - Make a commitment to becoming profitable. Trading in currencies isn't for the timid or weak hearted and if you don't have the commitment to stick with it until you're successful you'll get trampled. Since trading in Forex markets for a gain is a competitive and often frustrating experience at first many people just give up. If you do this you'll fail and never become profitable but if you refuse to give up you can only succeed.

By the way I often read about Technical Analyst and Trading advice on this site https://academy.mtbit.com/. Just go for it

I think for us to become a successful trader is that We should know the main target or aim why we are here.
Then, Timing is the second things if you know when to do it, for sure you can able to earn big in the future on trading.
Have a dedication and passion as a traders.

[hugeblack]

Tip #1 - You do not necessarily have to set a daily goal or a week but how do you turn the loss to gain and win in both cases, rise or collapse.

Tip #2 - A good point but it is best to educate yourself about the factors that control the market and that lead to a rise or collapse of prices. Learning strategies and relying on technical analysis can lead to major losses in a volatile market.

Tip #3 - Do not let emotions control you but do not be cowardly. Fear is not bad, but how fear is turned and controlled rationally for its transformation into gain is the goal.

[leavolnhals]

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I am reading some articles about blockchain, they have a very detailed list of blockchain operations and some new knowledge that I cannot know.
This is really one of the most rewarding websites I've ever experienced. I will ask them to open the donated box so that readers can be grateful for the amount of knowledge they have compiled.