How smart traders stay in profit even during a crashJudy Rubio
Being ahead of the market can be as simple as avoiding the wrong trading platforms.
The first and main difference is that the professional knows that he needs to learn, while the novice considers himself unwise and fearlessly and mercilessly makes cruel and unforgivable mistakes.
The most intelligent and far-sighted professional traders learn from other people's experience, trying to save their money, others develop skills through a series of disappointments and losses, and still, others leave the stock market, disappointed in unsuccessful attempts to get rich.
To trade at the level of Warren Buffett, one needs not only skills, but also talent. However, everyone can earn a lot of money on Forex. For novice traders to speed up the passage of the path to the expert, we offer to learn how to trade pros.
Cryptocurrency markets are well known for achieving the highest ROI among all traded assets, which easily overlaps other popular asset classes, including precious metals, bonds, commodities, and most stocks.
However, despite these incredible indicators in recent years, a significant portion of traders are still unable to maintain profitability, mainly due to basic errors that can be easily corrected.
Perhaps the most notable of these errors is trading on a platform that does not have the tools and services necessary to make informed trading decisions and properly hedge against trading risks.
With this in mind, using StormGain as an example, let's look at the key ways that traders can minimize risk and maximize profits in 2019 and beyond.
Know your market
Unlike most traditional markets, cryptocurrency markets are largely determined by changes in investor sentiment, which can radically change the dynamics of supply and demand.
This view can change quickly for several reasons, including recent news, recent developments in the cryptocurrency industry, and as a result of bullish or bearish charts, such as Bitcoin's infamous death cross, which occurs when the 50-day moving average falls below its 200-day high.
During periods of low sentiment, cryptocurrency markets tend to decline, whereas the opposite is true when investor sentiment improves.
Therefore, the successful use of tools that can measure and quantify these changes can help traders anticipate where the market is heading.
Simple indicators such as the StormGain active trading indicator can be used to quickly understand the current market sentiment, and many additional third-party tools can be used to make more informed trade choices.
They include the Crypto Fear & Greed Index, as well as the sent score indicator from Omenics.
Take advantage of advanced ordering tools
Using extended order options is one of the key habits that distinguish successful traders from those who regularly enter losing positions.
After all, using the right stop loss and take profit options can help protect profits and avoid excessive losses, while limiting the need to manually track open positions.
Unfortunately, a common misconception is that these more advanced order tools are intended for advanced traders, when in fact they are just designed to give more control over how an order is executed.
Because of this, many less-experienced traders neglect to use them, which makes it impossible to successfully exit winning positions, while losing positions remain open longer than necessary.
Professional traders created these principles, and their relevance has been proven in practice. Therefore, do not underestimate them and try to get to the top of the crypto space on your own mistakes.
Be careful, follow the cold calculation, remember how the pros trade. Objectively assess the situation and then high-interest rates on transactions are guaranteed. Above all, believe in yourself.
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