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Beginners

Embark on your journey into the exciting realms of Forex and Crypto trading with our dedicated “Beginners” category. Designed for those stepping into the world of financial markets, this category is a comprehensive guide to mastering the essentials of both Forex and Crypto trading. From understanding currency pairs and market trends to navigating the intricacies of cryptocurrency investments, our curated content is your roadmap to success. Dive into beginner-friendly tutorials, gain insights from seasoned traders, and build a solid foundation that empowers you in both Forex and Crypto landscapes. Whether you’re curious about traditional currency trading or venturing into the realm of digital assets, our “Beginners” category is your starting point for informed and confident trading.

Trading Mistakes To Avoid In Forex Trading

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Recently, forex trading has become a major draw worldwide. Nowadays, a greater number of individuals are getting into the currency market in the hope that they can make profits by leveraging the movements in prices of currencies. Are you one of those people who would like to start intraday trading in forex? In that case we have some crucial information for you over here. Here are some of the common mistakes that both experts and beginners tend to make in this particular context – ones that you need to avoid at all costs.

Using high amounts of leverage

Do remember that leverage can be a double-edged sword in this case. It can let you take a big position by depositing just a faction of the trade value. If you use high leverages you would significantly be able to multiply your profits provided the trade goes in your favour. However, if the trade does not go as you expected it to, you could suffer equally big losses too. If you do not want to make this mistake always ensure that you are using low amounts of leverages. Only use leverage to the limit that you could afford to lose. This way, to a large extent, you can save yourself from downsides.

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Crypto Mistakes to Avoid as a Beginner

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Trading is as much an art as it is a science despite what technical analysts and chartists may say. This is especially applicable to cryptocurrency trading, which happens to be a developing market that tends to get volatile at times as well. Here, values can change all of a sudden because of factors such as illiquidity, herd behavior influenced by social media, and the manipulative whales. Millions of new investors enter the cryptocurrency market every year. Since cryptocurrencies are immensely unpredictable most of them lose money, which is not surprising at all. This is why there are some mistakes that must be avoided in this context as such.

FOMO

FOMO or the fear of missing out is a powerful psychological force that leads people to make impulsive decisions. As far as cryptocurrency trading goes, FOMO compels investors to purchase assets when prices are skyrocketing in the hope that they do not miss out on further gains. This means that they often buy at the top of a market cycle and this can lead to sizeable losses when the prices correct themselves inevitably. Finally, FOMO can also result in crypto scams. A lot of investors have been lulled into taking part in Ponzi schemes or buying worthless tokens because of this.

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CFD-Contarct For Difference

CFD vs ETF

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In today’s dynamic trading landscape, the abundance of investment options can be overwhelming. Among the myriad choices available, Exchange Traded Funds (ETFs) and Contracts for… Read More »CFD vs ETF