Does the new world of cryptocurrencies fascinate you? Recent reports and news of spectacular increases and of possible future gains have turned into an exciting prospect. It may have enthralled your imagination, as it has done with so many other people. The cryptocoin market is highly volatile. You will always need a robust, trustworthy, and best crypto coin exchange to trade your digital assets.
There are certain rules that come into play while trading cryptos:
Volumes indicate the liquidity of an asset. The greater the liquidity the easier is to buy and sell, even when there is a turmoil and lower the bid-offer spread. It is an extremely powerful tool but it is often overlooked because it is such a simple indicator. Volume information can be found just about anywhere, but few traders or investors how to use the information to increase their profits and minimize risk.
Every crypto trading platforms currently charge numerous fees maker fee, transaction fee, taker fee, and more. These fees eat into your profits. Be careful about the unnecessary charges and think well while choosing a trading platform in the cryptocoin market.
Avoid Using Below Points if do not want to lose trading
- Bet too much
- Hold positions for too long
- Never cash out their winnings
- Trade without knowledge
- Gamble with other people’s money
- Trade frequently, therefore also trying out mediocre trades
Emotions are not your friend
It is very easy to get caught up in the rush and excitement of a winning trade streak; or conversely, the depression of losing trade streak. In all cases, the end result is often same i.e sloppy trading, which ultimately results in a loss. So, stay humble, remain positive, and check your emotions in at the door.
The 80/20 Rule of Trading
The good trader makes their money with 20% of their trades. The remaining is either a tie or a loss. If you get a 16% profit with a good trade, then a bad one will give a 4% loss. You can reach this relationship with a stop-loss. In this way, you can also calculate whether you make a net profit.
ZedXe Exchange is the Solution
ZedXe aims to bring legacy infrastructure incorporates with advanced trade-techniques to the booming cryptocoin market. Xe exchange is a high-caliber crypto exchange with powerful trading tools. Although there is numerous crypto trading exchange, security continues to remain the main priority. Some exchanges do offer security and great customer support, but delayed responses have been an issue. ZedXe hopes to address these loopholes through a well-planned, robust, and user-friendly platform.