The Right Steps in Trading
Crypto trading is a way to make money by buying or selling crypto coins through an exchange. Today, more and more people want to be traders on the Forex exchange. They are attracted by the opportunity to make money easily and quickly. How to trade Forex, and what pitfalls exist?
Forex TradingYou should start your trading way with learning because it is important to understand the mechanism of the market so that later, you are not surprised by a fall or good luck.
What Is the Main Mistake Made by Traders?
One of the trading mistakes is not taking slippage into account. What is slippage in forex? This is a situation when the order is executed at a price that is not favorable than the trader had planned. To avoid this, study the market and the factors that influence it. Slippage is not suitable for intraday trading, in other words, for scalping.
Many people use the martingale strategy. The principle of martingale forex is that traders double their bets after a loss. In such cases, many people use a demo account to place their first bets. They place the third or fourth bet from the main account, hoping for a profit. This works 50% of the time.
Using the Traders Dynamic Index. It is based on the standard RSI indicator, which determines the strength of the current trend or the bet of price change. In this strategy, you should pay attention to intersections of red, green, and yellow lines. Pay attention only to strong signals because in such case, there is a chance of making a profit much more. Below are the main types of intersections:
Buy cryptocurrency when the green line crosses the red from below, or the red line crosses the yellow from below.
Sell when the green crosses the red from above or when the red crosses the yellow from above.