Cryptocurrency trader – benefits

Hello, dear traders! This is Petko Aleksandrov from EA Forex Academy. And in this lecture I will simply give you the idea what is to be a cryptocurrency trader. In front of you you can see a trading platform called Meta Trader 4. This is one of the most common platforms among the brokers and we will be using this one during this course because it’s a free platform and I will show you what are the different assets we can trade. And of course, the different cryptocurrencies. And here you can see that we have our virtual account that we will be working on. I will teach you how you can open a virtual account with virtual money, so you’re not risking anything because it’s essentially important for the beginner trader to start practicing first with virtual money and not to risk real money. So, in front of you can see 4 cryptocurrencies, the Ethereum, the Bitcoin, the Litecoin, the Dash and what it is to be a cryptocurrency trader. Let’s go for example to the Ethereum. So, what is the idea of trading, guys? Basically, the idea here is that we enter into the market and we exit quickly with profits. OK? This is what we are aiming for. So simply said, guys, as traders you will enter into the market with a predefined strategy, with a predefined system that I will show you at the end. The idea is that we enter into the market. We open a trade. For example, we open a long trade at certain level and then when we are onto a profit and we have our exit condition, the signal to Take the Profit. We are out and we Take the Profit. OK? So, let’s say somewhere here just to give a brief example. We enter at 763 and we’re out on 973. We benefit this difference, we Take this Profit and we are out. We don’t invest, we don’t wait with days and weeks the price to go higher just for a couple of hours or days maximum. We Take our Profit and we are out and we are waiting for the next opportunity that comes on the market. So simply, guys, this is what trading is, we focus on different assets, we use strategies that I will teach you in this course and we enter into the market and we go out quickly. We don’t invest, we don’t wait for a long time. But what we do simply, is to Take quick Profits and to wait for the next opportunity and for this reason we are using the brokers and I will explain you in the next lecture what are the brokers and how you need to choose one. Thank you for watching. Cheers.

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