To Risk or Not To Risk: Good Cryptocurrency Trading is Not Gambling

Oct 31, 2019 at 12:20 // News
Guest Author

It is believed that only 10% of traders actually take profits and 90% are at risk of losing everything invested. This is also true on the cryptocurrency market. While only a few traders follow the market trends and try to make the most profitable bets, others prefer to gamble instead of trading.

Traders beginners may become victims of gambling on the cryptocurrency market instead of trading more luckily. The lack of knowledge causes both money loses to a newbie trader and reputation loses for cryptocurrencies. 

Usually, there are two ways how a newbie trader can start a profitable trading. First is to make a full analysis and take bigger risks while trying to understand they way cryptocurrency trading actually works. And second - is to search for a trusted brokers who will make most of the calculations by themselves.  

Trying to trade on your own 

To begin cryptocurrency trading on your own, you can simply open an account on a cryptocurrency exchange. Usually it takes just a couple of minutes to start. Then users should add money and start trading. However, in most of the cases first trading experience doesn’t end with profit.  

Doing good homework before trading 

To keep your money and make a profit, traders must follow the news, trends, cryptocurrency charts and market analytics before placing orders. It is important to have a strategy of every trade and to do a proper risk management. 

Finding a cryptocurrency broker 

Another option is to find a trusted cryptocurrency broker or third party trading platform with the latest information on the trends on the market. They are used to the cryptocurrency volatility and have higher potential to get profitable  returns.

TrustedBrokerz is dedicated to providing traders of all ages and experience with the most accurate and valuable information they need to trade forex, CFDs and cryptocurrencies with confidence.

Disclaimer. This article is paid and provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. CoinIdol shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods or services mentioned in this article.

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