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6 Rules for Being a Successful Trader

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Trading

You are on the right page if you are new to options trading. We are going to share with you 6 tips in this article that will help you succeed as a trader. With these tips on your mind, in order to get closer to your success, you will prevent common errors and adopt the right strategies. Let’s find out some straightforward tips without further ado.

1.Do Not Invest Too Much

You do not want to put all your money at risk if you want to be profitable as a trader. You’re going to retire one day and you’ll need plenty of money to lead a decent life. Therefore, you may want to conservatively invest your cash.

While you can use the money you’ve saved from time to time for a day’s trade, always try to be on the safe side. In other words, the money you can’t afford to lose shouldn’t be wasted.

2. Have Patience

Another indication of a great trader is that, on a regular basis, they do not trade. So, what you need to do is take advantage of the resources that can fulfill your requirements.

Grabbing any chance you can find is not a good idea. Only because there is an option available, you do not want to go against your own decision. You must have a good plan in place and be vigilant at all times.

3. Be Under Control

You have to have a good trading strategy in place, and there’s nothing you can do against it. You don’t want to adopt impulsive actions if you’re selling on your own. You don’t want to be greedy, because a lot of money will cost you a lot.

If you think that in a single day you can get rich, you are making a grave mistake. You must be disciplined at all times.

4. Take Opportunities and Not Miss Them  

Often, in the beginning, new traders appear to be overwhelmed. They are too scared to exploit the opportunities that arise in their path. But as long as you are disciplined and have a good strategy to execute, you don’t need to worry.

So, there’s no need to be afraid to press the button. You will certainly achieve the success you want if you are patient and disciplined.

5. Do Not Take a Great Deal of Trouble

As I said earlier, spending too much money in one trade is not a good idea. Not only would this put you at greater risk, but it will cause you to miss a lot of opportunities down the road as well. You can, therefore, only invest 10% of the amount of money you have set aside for trading. This is going to allow you to be on the safe side.

6. Experience is your Best Bet

Owing to their grave failures, traders suffer from losses on a regular basis. So, all you need to do is study and follow a rule-based approach from others. You should always try to be yourself, apart from this, and never try to cross the line.

My Thoughts

Long story short, we recommend that you take these measures if you want to be profitable as an options trader. This will allow you to be on the safe side and to prevent the usual mistakes along this trip that can make you suffer a loss.

We recommend that you go to OptionsGeek today if you are searching for the best trading framework for options. They deliver wonderful services.

Also Read: Investing For Beginners: A Quick Beginners Investing Guide

An Engineer, Youtuber, Sportsman and National Level Shooter with a Taste for Technology and Gadgets. Loves to Review Tech and Play the Most Demanding Games out there.

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Cryptocurrency

Britain has banned Binance from operating in the country due to Lack of FCA Authorisation

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Binance Exchange

The Financial Conduct Authority (FCA) of the United Kingdom has ordered cryptocurrency exchange Binance to cease all regulated operations in the nation, citing a lack of authorisation.

The exchange would not be permitted to engage in any regulated operations without the FCA’s prior written authorization, according to a statement released on Saturday.

“No other entity in the Binance Group is authorized, registered, or licensed to conduct regulated activity in the United Kingdom.”

Binance Markets Ltd, Binance’s UK firm, “shall not, without the prior written authorisation of the FCA, carry out any regulated activities…with immediate effect,” according to a Financial Conduct Authority (FCA) notification dated June 25.

On Sunday, Binance did not respond to a request for comment.

While cryptocurrency trading is not directly regulated in the United Kingdom, providing services such as cryptocurrency derivatives trading does require authorization.

Binance has been informed by the FCA that it must post a notice on its website and social media channels by June 30 stating that “BINANCE MARKETS LIMITED IS NOT PERMITTED TO UNDERTAKE ANY REGULATED ACTIVITY IN THE UK.”

It must also safeguard and retain all records relevant to UK consumers by July 2 and notify the FCA of this.

The agency did not explain why it took the actions against Binance, which has previously stated that it takes its legal obligations “extremely seriously” and works “collaboratively with regulators and law enforcement.”

The Financial Conduct Authority (FCA) is boosting up its regulation of cryptocurrency trading, which has grown in popularity in the United Kingdom and other countries across the world.

Since January, the FCA has compelled all companies that provide cryptocurrency-related services to register and demonstrate that they follow anti-money laundering regulations. However, it was reported earlier this month that only five companies had registered and that the remainder were still not in compliance.

A notification released on the website of Japan’s Financial Services Agency declared on June 25 that Binance was operating unlawfully in the country.

Bloomberg reported last month that US Justice Department and Internal Revenue Service agents investigating money laundering and tax evasion had sought information from individuals with knowledge of Binance’s operations.

The German financial authority BaFin warned the exchange in April that it risked being penalized if it offered digital tokens without a prospectus to investors.

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Cryptocurrency

Crypto Crash: Is It the Right Time for Investing in Cryptocurrencies?

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cryptocurrency

The Crypto world has witnessed one of its biggest dips ever in the first half of May 2021, making many people think about investing in cryptocurrencies. Bitcoin has come down by more than 30% in the past few days. However, it has recovered slightly thanks to tweets from Elon Musk and Cathie Wood, who still believe in cryptocurrencies.

Despite going through a crisis, the best crypto trading platform has seen an increase in new investors during this time.

Let’s go deeper and find out the benefits of investing in cryptocurrencies in these tough times with a proper explanation.

Still the Next Big Thing

Many people may have started thinking that cryptocurrencies won’t show the same returns as they have provided in the past year, but it isn’t the case even after the recent recession. It has grown at a much higher rate despite not being accepted at a huge level globally. It is true few companies have made plans to accept bitcoins and other cryptos as payment method, but the numbers are quite low.

It is guaranteed that the number of people who will grow on the best crypto trading platform will be a great boost for these currencies. However, everyone needs to understand that there are limited coins of these currencies that can be made. This scarcity will increase their value, ultimately leading to driving up the price pretty higher in the future.

Increasing Acceptance

Despite having a strong dip, digital currencies are considered a broad aspect due to which most many companies will begin accepting it as a payment method. Bitcoin has become a very well-known currency where a great number of investors and even multinational companies are investing. So, it is a solid investment that won’t slow down in upcoming years at all.

A solid number of experts are very bullish about the digital currencies that prove how amazing an investment it is. That’s not all, PayPal has even launched a new feature that let users buy and hold cryptocurrencies. The good news that the digital currency lovers will like is Square Inc. has invested nearly US$ 50 million in Bitcoin currency.

Ability to Bounce Back

If you believe that 2021 is the first time Bitcoin has crashed down, there is a need to think once again. There is a similar kind of incident that happened in 2019 when bitcoin’s price crashed by more than US$ 3,000 after having a great return of 1,350% in the previous run.

It proves that cryptocurrencies have the ability to bounce back brilliantly after having solid crashes. In fact, the majority of people see it as an opportunity to buy currencies like Bitcoin for earning great profits in the future. You will be amazed to know that the best crypto trading platform traffic has increased convincingly during this dipping period.

Worthy for Long-Term Investment

If you are a long-term investor, you can definitely think about buying digital currencies to still bring great profit for sure. However, it is suggested to not spending all your money on digital currencies. You should diversify your portfolio in a variety of stocks for keeping investment safe.

It will make sure you don’t have to lose everything even if digital currencies face a stronger dip again. However, it doesn’t mean you should be afraid of visiting the best crypto trading platform and begin investing money in digital currencies.

Positive Prediction

Top platforms like Bloomberg Galaxi Crypto Index have predicted that Bitcoin will reach a new mark of US$ 60,000 in the upcoming future. While many people might think it is impossible considering the present situation, there is a strong chance that such a solid increase in the Bitcoin price can happen.

This dip has created the opportunity for newcomers to enter the digital world and think about making money in the crypto currency world.

Conclusion

We believe it is quite understood investing money in digital currencies is a good bet in the current crisis. Bitcoin is one of the hottest commodities that you should buy at a reduced price. Despite facing troubles in recent times, it still has a great potential to let the investors earn a suitable amount of money in the long run.

It is a pretty decision to sign up with the best crypto trading platform to make a great profit in the future. If you have a query regarding digital currencies, we suggest writing about it in the comment section.

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