What Do You Need To Do To Become A Skilled Trader?
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
In the fast-growing cryptocurrency market, numerous people enter the market with the hope to get rich. At the same time, countless people lose their money, regret is the only thing they bring home with them.
So are you ready for this wild market of the survival of the fittest?
When it comes to investment, one thing never changes: the number of people who lose always exceeds that of people who make profits. Therefore, you should equip yourself with relevant knowledge, information and skills, so as to become one of the few people who make profits in the market.
Equip Yourself With Knowledge of trading
Always ask yourself these questions:
- What are the fundamentals of the asset you want to invest in?
- What is the technical analysis of the asset like?
- What is K-line and how does it look?
- What are the most popular indicators and how do they work?
- Do you know what has been behind Bitcoin’s rallies and crashes?
The last question may seem confusing. The reason is: history tends to repeat itself. For instance, in the last few months, Elon Musk’s comments on cryptocurrencies all have a huge impact on the market. If you long or short the asset based on his words, with leverage or not, you would have doubled your profits.
Why should we learn this? It is impossible for a successful trader not to understand this knowledge. But those who know these are not necessarily successful traders. Because the 80-20 rule can be applied to the crypto market, too.
Get Familiar With The Rules Of Your Exchange
If an exchange doesn't provide you with a demo account, then you have to use your real account to test the platform. Entering a trade without knowing the rules may cost you much money. You may lose a few times before understanding the rules of the platform, so it would be best if you have a demo account.
Have Profitable Strategies
Have you ever heard of a Wall Street trader who doesn't have a profitable trading strategy and makes profits in the long term? If you have one, you might need to spend months or even years back-testing and improving your strategies before using real money to trade.
To try out and improve your strategies, you would need a demo account, and Bexplus exchange could be the platform you are looking for.
What Is Bexplus?
Bexplus is a leading crypto derivatives trading platform offering 100x leverage futures trading on BTC, ETH, LTC, EOS, XRP, etc. Established in 2017, it is trusted by over 80K traders from 200+ countries, including the USA, England, France, Spain, and Japan. Traders can enjoy the most attentive 24/7 customer service in 15 languages.
Features of Bexplus
- No KYC requirement, registration with Email verification within a few minutes
- Demo account with 10 BTC for traders to get familiar with leverage trading
- 100% bonus for every deposit
- Make profits by longing or shorting cryptos
- High profitability: 100x leverage to earn 100x profits
- Interest-bearing wallet: safe storage of up to 21% annualized interest; instant deposit and no deposit fee
- High liquidity: Extra-fast order execution even during great market fluctuation, no spread and with low latency
- High-level security: Protection against DDoS attacks and encrypted with SSL, multi-signature technology, 2FA to secure users' account and assets
- 24/7 customer support of 15 languages