What is the best way to get into the field of trading Crypto-currencies?



The best way to get into trading crypto-currencies is to know what you are doing.

Yes, it’s like stock and commodity trading but in a much higher risk level. So more than just a basic knowledge is required to get in this field.

So, here are some points you should keep in mind before get into this field.


  • Invest the amount that you can afford to lose.
  • Monitor the activity of Bitcoin.
  • Do not just trade on single Cryptocurrency (Divide and Rule)
  • Greed can consume your chance of earning profit. So, avoid it.
  • Do research before investment.
  • At last, learn from the mistakes and avoid it.

It have the high risk involve because of its very highly volatile nature. There are many other low risk trading options that deals with stock and commodities. You can earn high profits out of such trading too. You can also find many advisory service provider like 100mcxtips that can back you up through tips and advises to earn profit and avoid loss.

(Source: https://www.quora.com/What-is-the-best-way-to-get-into-the-field-of-trading-cryptocurrencies )



Comments

Post a Comment

Popular posts from this blog

Do 90% of day traders lose money, because I have been trading for only a short period of time and my principal has increased by 30%, so is this simply beginners luck?

Image
Intraday trading refers to buying and selling of stocks on the same day, during the trading hours that are stipulated by the exchange. Stocks are bought and sold in large numbers strategically with the aim of booking profits in a day. There are days when you earn the profit but there are also days where you will see loss. It happens with the people with full knowledge and experience. Intraday is very highly volatile and involves very high and uncertain risk. However, if you want to trade in the stock market without any risk of loss then you can also consult an advisory firms like 100mcxtips and khelomcx to get the effective and profitable advises on the basis of technical and fundamental analysis of market. (Source: https://www.quora.com/Do-90-of-day-traders-lose-money-because-I-have-been-trading-for-only-a-short-period-of-time-and-my-principal-has-increased-by-30-so-is-this-simply-beginners-luck )
Read more

What is your analysis of the bloodbath in the stock market post-budget day? Will it be a good time to accumulate some stocks or will the index likely hit further lows?

Image
There is no such thing as bloodbath in the stock market. The announcement of the budget have the tendency to bring a turbulence in the stock market as some announcement are in favor of a market but some aren’t. But this is a temporary turbulence that will pass soon enough. So, it might no be the best time to invest at that time but it will definitely recover from the lows. If you are still not sure about the decision then you can always consult the stock and commodity tips providers like 100mcxtips and khelomcx that provide tips based on technical and fundamental analysis. (Source: https://www.quora.com/What-is-your-analysis-of-the-bloodbath-in-the-stock-market-post-budget-day-Will-it-be-a-good-time-to-accumulate-some-stocks-or-will-the-index-likely-hit-further-lows )
Read more

What can be considered a good return in Intraday trading?

Image
There is no specific answer to this question but from the past records, traders have doubled their investment or a little more. Now, that is the highest parameter and in the lowest parameter, people has loss double of their investment. That is why this is trading involve the highest risk. But with the higher risk comes the higher profit. The market fluctuate the most and become unpredictable sometimes. You wont even know what hits you. So, you can always consult with the good advisory firm such as khelomcx, 100mcxtips and many more. Those are good firms because their basis of report include technical and fundamental analysis. (Source: https://www.quora.com/What-can-be-considered-a-good-return-in-intraday-trading )
Read more