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migoyad · Veteran Member

what do i need to know to become a successful cryptocurrency trader?

begetos · Veteran Member

Trading in cryptocurrencies is no different from the classic day trading we are used to and in financial markets. A trader should also track asset price changes, follow economic news, use technical analysis or fundamental analysis to determine future price changes. The psychology of trading has been familiar to us for a long time. Cryptocurrency trading is also traded in pairs, their price changes in relation to another instrument.

xekoxeb · Veteran Member

Each trader on the cryptocurrency exchange is faced with the question of what is needed to start trading, trading cryptocurrencies. Since it was mentioned earlier that there is no fundamental difference between trading contracts in the forex market and trading cryptocurrencies, to start trading you will need: a cryptocurrency broker, a trading platform for trading, a bitcoin converter www.bestchange.com/converter/ making a deposit for trading, charts for analysis and trend determination. To use analysis, we need to know the volume on the cryptocurrency exchange, basic technical analysis, and fundamental analysis.

giftracker · Newbie

i have one question to you
maybe you know how to find good broker?
i already look for many articles and find out one good https://forex-up.com/broker-reviews/exness-review/
but still dont know correct answer

-- Edited by giftracker on Wednesday 30th of September 2020 12:29:06 AM

kevingoldman9090 · Member

These events are associated with both the rapid growth of currencies and their equally sharp depreciation. Therefore, being aware of global processes, understanding the underlying market sentiment before and after these events and anticipating them can be very profitable, or at least help to avoid significant losses. Here are some of the major events: important meetings of the G7 or G8; presidential elections; important summits ;, major central bank meetings; potential changes in exchange rate regimes; debt defaults of large countries; wars as a result of growing geopolitical tensions, etc. For example, the war with Iraq. Between December 2002 and February 2003, the dollar depreciated 9% against the Swiss franc before the invasion of Iraq. The dollar sell-off was driven by the growing unpopularity of the war in the international community, more at justforex.com/education/forex-articles/differences-between-forex-and-stocks. The Swiss franc was among the main beneficiaries due to its political neutrality and its “safe haven” status. In February - March, the market began to believe that the inevitable war would end with a quick and decisive US victory. This led to a 3% increase in USD / CHF. A good understanding of major macroeconomic events will help traders make better decisions and keep them from playing against possible significant uncertainties. The world is changing and forex traders must be prepared for this.

Date: Jun 30, 2021

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Date: Jul 6, 2021

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