Are you interested in technical analysis, but don’t know where to start? Friend, you have definitely come to the right place – get ready to dive into the world of digital assets in headfirst! ?
Welcome to the Trading Academy. It is never too late to learn – our team of professionals is ready to share their experience and knowledge!
Do not be afraid, “investments”, “trading” and “market trends” are not as scary as they might seem at first glance. The purpose of this article is to dispel the most common myths and fears associated with trading (if there are any) and help you adapt to it by acquiring basic knowledge.
It is time to start the journey of learning the investment and trading base!
Let’s move on to the analysis of definitions:
According to Wikipedia, a Trader (from the English word “Trader”) is a person (vendor) acting on his own initiative and aspiring to obtain profit directly from the trading process itself.
Trading – is the trader’s proximate work: analysing the current market situation and concluding trade deals.
Crypto currency trading – is a separate type of trading. It is one of the main ways to make money using crypto currencies. Buying / selling crypto currency coins and tokens do not differ too significantly from trading in precious metals, currencies and stocks.
Trading in stocks or indices does not differ so much from trading with crypto currencies, the main difference is that trading is conducted from Monday to Friday, while crypto is 24/7.
The basic idea remains unchanged: you need to buy at the lowest price and, for making profit, to sell at the highest possible price.
Perhaps the main difference between trading in crypto currencies and trading in the stock market is the high volatility of the exchange rate.
Many people want to reach the level of profitability reaching thousands of percent from the transaction amount, but in the case of working with the stock market, waiting for such a case can take years. In the case of crypto trading and market volatility, such situations are more real for those who trade in digital money.
So, what do those who want to join the digital asset market need? First of all, of course, money. Let’s figure out how much money is needed for those who want to start working and is there a minimum required sum?
It is necessary to work with the amount of money with which you feel comfortable to “risk” and, of course, this amount is individual for everyone. It is worth understanding whether trading is a full-fledged job or a hobby, since in the current realities of the market, a transaction can be opened for a minimum amount of several dollars. But it is important to understand how much you can earn from such a transaction (approximately) and, if trading is a full-fledged job for you, whether you have enough money for your daily expenses to ensure a comfortable life.
When trading as a hobby, or for newcomers to the market (during training and during the first trading attempts), any amount (not less than the minimum) will be sufficient. The minimum and maximum deposit and purchase / sell amounts may differ depending on the trading platform that is used. Always check this information before making any transactions.
Talking about frequency and time, how many hours should you spend on the trading process?
This is a very individual question that touches on many points, so I devote our next lesson to the topic “Types of trading” – namely, to highlight several approaches and types, since the principle of trading depends on how much time is desirable or even necessary to spend on this activity. Investment trading and day trading are the most common types today.
The first lesson has come to an end, thanks for your attention❤️
Was it easy? – Move on to the next lesson!
Was it difficult? – Write us your wishes and suggestions.
P.S. It is planned to add a review of market situations soon with the help of our professional traders online.