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Ways To Become A Successful Trader

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If you want to start trading then you can trade in Forex market where you will find some great trading opportunities and you can take advantage from it if you know how to play the game in this market. At an early stage of trading almost all traders thinks that trading is all about setting up chart and entry and exit points. But if you want to be professional in this industry you must need to have knowledge about trading strategies, money management and should have control over your emotions. Now we are going to talk about a few tip which going to help you to stay alive in the trading game.

Study the Forex market

Having a sound knowledge about Forex trading is must if you want make a living from it. Traders need to know how this market works, the different currency pairs, how they behave, support and resistance and bid-ask price. There is also some complicated concepts like pips, spreads, leverage, slippage, commission etc. about which you need know clearly and able to calculate it without any confusion. You can analyze this market both technically and fundamentally, so you have to learn how to do them. There are lots of financial news publishes every day and a trader must need to understand those announcement and able to find out how the market can react to that news.

Choose a Safe Broker

When you are thinking about investing real currency in Forex market then at first you must need to choose a safe broker which going to give you a nice platform to trade along with some important tools which going to help you with finding good entry points. A good trader also gives you opportunities to learn more about trading and also gives you safety of your invested money along with fast trade execution, tighter spread and minimum slippage. So after studying Forex trading a trader should look for best online options trading account which will fit with their trading style. Once you find it, you can invest money in it and start his trading career.

Trading plan

Before starting to trade a trader need to make solid trading plan and act accordingly. The plan should be written in a paper with his money management rules and risk management rules and also what will be the reasons for opening a position. He must need to make a strategy and before implementing it in real market he needs to give it a try in a demo account. If it works perfectly only then you can implement this strategy in live account. We suggest a trader should practice his strategy in demo account at least for 1 year before entering the real market. You should make your strategy accordingly your trading style and your preferable timeframe. 

Consider it Like a Business

Traders should not consider trading as a job but as a business. Like any other business, traders face lots of ups and downs. So a trader should always have to be eager to learn and grow through his trading career. Always keep in mind that when you fail at something and you learn the reason behind that failure so that you will surely never repeat that mistake again. So the key to success of your trading career will be learning from your mistakes rather them just learning from different articles and trading books. 

In any business you have to take risk for making profit and you should have to follow some risk management rule so that you can keep your business alive. In trading it almost same and because of this a trader should fix his risk reward ration and always use stop loss whenever you open a position. Never risk more than 1%-2% of your trading capital no matter how appealing the situation is. 

 Trading can be considered as a money making machine, if you are smart enough. These are the few tips for becoming a successful trader and we hope our tips help you in your trading career.

Image by Free-Photos from Pixabay

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Launch of First Ever XDB/ZUSD Pairing Announced to Support Global Gaming Industry

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The XDB Foundation has recently announced the first pairing of XDB with the new Zytara Dollar  (ZUSD) on global cryptocurrency markets. The Biki cryptocurrency exchange will be one of the first platforms to provide access to the XDB/ZUSD trading pair.

“We are really excited to see the debut listing of the XDB/ZUSD trading pair,” says Michael Gord, the XDB Foundation’s Managing Director,  “Asia-Pacific accounts for a significant portion of the global gaming community, almost 50%, and BiKi is perfectly situated to support this geography.  We’re really happy to welcome them into our partnership ecosystem.”

The protocol layer blockchain DigitalBits is designed to support branded stablecoins and other branded currencies across a variety of use cases, offering crucial support to the global esports industry. The platform solves many of the issues involved in global tournament prize payouts, as well as enabling around the clock real-time payment transfers and global monetization of in-game currencies. Developers will also be able to create programmable incentives for gamers, therefore increasing fan engagement. 

Issued by a regulated financial institution, the ZUSD is designed as currency for the future of the gaming and esports industry and beyond. The programmable dollar moves anywhere in the world at the speed of the Internet, and is redeemable…

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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