In order to make money on trading, you need knowledge and experience. It is not so easy to purchase them. on the web, you can find a large number of ads from pseudo-trading gurus, in which the “masters” promise to teach all the basics of earning on the difference in exchange rates.
In fact, such “teachers” often wait for the transfer of payment, and disappear. There are also many companies and projects whose representatives promise to reveal all the secrets of the income of successful traders.
Beginners are not able to distinguish a high-quality offer from a deception. Unfortunately, the lack of a minimum set of knowledge about trading at the initial stage leads to the fact that users fall into the hands of unscrupulous teachers and representatives of dubious projects.
In order to protect beginners from scammers, we have collected useful materials, thanks to which you can get the necessary information for an effective start of training and, possibly, the subsequent choice of a teacher.
Three stages of trading for beginners
Crypto trading is different from earning on the difference in the rates of classic assets. For example, cryptocurrencies have a significantly higher level of volatility. this means that the price of bitcoin, unlike the dollar, can grow rapidly in a short period of time, or vice versa – fall. in addition, more capitalized and widespread fiat currencies are not so easy to manipulate.
To work effectively in the digital asset market, it is necessary to understand the nature and features of a new financial instrument. Also, the trader will need to know the nuances of trading and self-entry into the market. The stages of primary training can be presented in three steps.
Without theory, there is no practice. It is with her that trading training begins. A beginner should understand what decentralized finance is and how it differs from national currencies.
Make a detailed list of training materials, thanks to which you can get a complete, and most importantly – correct idea of cryptocurrencies and earning opportunities with their help. find answers to such questions as what is high-frequency trading, fundamental analysis, and what distinguishes trading on the exchange of traditional assets from working in the crypto space.
You can find more articles that will make it easier to understand the specifics of working with cryptocurrencies on the Internet. Understanding the current state of the digital asset market is an important component of successful trading.
Beginners need to find not only up-to-date information, but also explanations of certain events. for example, recently, the bitcoin exchange rate for the first time in a long period of time overcame the psychological mark of $10 thousand.
2-Practice and evaluation of results
A convenient option for practice is a demo account. You can open it, for example, on the StormGain digital asset exchange.
A demo account allows you to work with the tools of the trading platform without adding funds to your balance. when registering, the user is provided with a certain number of virtual assets with which he can conduct transactions. This simulation without the risk of losing real funds allows you to see the effectiveness of the chosen trading strategy and prepare a beginner to enter the real market.
A demo account is not the only option for practice. for some beginners, it is enough to have real-time data on cryptocurrency exchange rates, technical analysis tools (for example, you can use tradingview charts) and a sheet for keeping records.
With the help of the TradingView resource, you can make forecasts and track their effectiveness. To do this, you need to keep statistics. so a novice trader will be able to understand whether he is ready to enter the real market.
In the process of self-study, you may need advice. It is best to get them from colleagues, professional traders and other market participants.
For example, on the Telegram platform, you can discuss various issues and instantly receive a lot of responses. Many traders are guided by the advice of experienced participants in thematic communities in their work.
3 – the Beginning of independent work
In order to start making money on crypto trading, you need an initial capital. users who are willing to buy digital assets for fiat will need to choose an exchange.
You can get a knowledge base to start earning money on trading for free. To do this, you need to have at hand training materials compiled by experienced members of the crypto community, a news section from which you can learn about the latest events, and a platform for communicating with like-minded people. To other conclusions:
- you should not try to make money on trading without having an idea about the features of this type of work;
- before practice, every trader must pass the theory;
- the practice does not have to be paid – participants of the crypto community have the tools to prepare for a real entry into the digital asset market.
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