Bitcoin trading seems so profitable but there’re also risks lying underneath the ticker. How to test to see if you’re prepared? Is there any tool to train yourself to be a skillful trader?
This is one of the topics discussed last week in the Academy for Beginners hosted by Bexplus.com, a bitcoin-based futures exchange – it is summarized that there’re four most important questions you need to have answers to get ready for crypto trading.
Do you have enough money to trade successfully?
An investment of $25,000 to $50,000 in trading capital is a realistic amount for a full-time trader to support the different expected standards of living. Surely not every trader put that amount of money at the beginning, for those traders with experiences less than 3 months, it’s reasonable to invest $1,000 to $5,000 to learn the tactics and bear acceptable losses at the same time.
How many funds are you willing to lose?
Your investments can be divided into two types, one is that you can afford to lose and the other is you can’t afford to lose. Investment with higher ROI can eat up 20% of your investment yesterday and earn 35% today, or tomorrow. If losing the investment funds can get you risks to pay the bills for living in a month, control it to a level that you can accept.
Are you able to be conscious of your emotional swing and control it?
Losing an investment will hurt you for a while and every successful trader have a long list of loss records. The suitable trading signal can happen right away just one minute after your loss, those who feel angry and confused will miss the good trading signals and fall to bad signals. As “Jack2crypto” (a Bexplus user) shared, whenever he lost a trade, he immediately shut down the trading dashboard and jog for 30 minutes outside to cool his mind, jogging creates an isolated space to rethink the strategy and exercises will help release positive hormones to make people happier. (The annual profit rate for Jack2crypto is 23.14%.)
How much time can you devote to learning trading?
This question distinguishes those who make their profits by luck and those who reach their goals by themselves. There’s a learning curve to learn something new, for bitcoin futures trading, it takes you only 10 minutes to understand the mechanism but it can take a few days to build your principles and strategies after attempts of real trading.
Bexplus – a Crypto Futures Exchanges Designed for Beginners and Veterans
All Features in One Fold
Some crypto exchanges are designed for professional traders only and provide tons of features that are not all necessary for a beginner. Bexplus is the only exchange that all features can be shown in just one fold just like it focuses on 100x leverage trading only – all features are must-have and easy-to-use.
Fewer Margins, Higher Profit
Bexplus provides 100x leverage trading to enable traders to begin with small investments. A 100x leverage allows you to invest 0.01 BTC but enjoy the profits equal to 1-BTC…