Economy
Mastering The Art Of Crypto Trading: Key Tips To Follow
Are you interested in getting involved in the crypto trading market? It’s no secret that cryptocurrency trading has been on the rise for a while now, and as more people become interested in this exciting new field, it is ever more important to stay informed. There are many key components to mastering the art of crypto trading which must be considered if you want to make successful trades.
In this blog post, we will provide some insightful tips that seasoned investors have used throughout their respective careers to ensure success when entering or exiting the markets. By understanding these core concepts and implementing them into your own personal strategies, you can make sure that your investments pay off handsomely.
Understanding how crypto trading works and the different types of markets
Cryptocurrency is all the rage these days, with more and more people diving into the world of trading. But before you start investing, it’s important to understand how it all works. Crypto trading involves buying and selling digital assets using a decentralized platform. These digital assets are also known as cryptocurrencies, and they function as a means of exchange, just like traditional currencies.
There are different types of markets in which these digital assets are traded, and they all have their unique characteristics. From spot trading, and futures trading, to options trading, it’s important to understand the differences between them to make informed decisions. So, buckle up, and let’s dive into the world of crypto trading!
Evaluating trends in the crypto market to inform your trading decisions
The world of cryptocurrency trading can be a tricky one to navigate, with so many different factors influencing the value of various digital coins. Whether you’re new to the game or an experienced trader, it’s always a good idea to keep an eye on the latest trends and developments in the market in order to make informed decisions.
By analyzing patterns over time and staying up to date with news and industry changes, you can better understand how the market is likely to shift in the coming weeks and months. Of course, there are websites like Peak Crypto, and other similar ones, on which you can always get more info on how to act with crypto. Not only will this help you stay ahead of the curve, but it can also give you insights into potential entry and exit strategies.
Developing a strategy for trading with crypto assets
The world of crypto assets can be a challenging one to navigate, but with the right strategy in place, it can also be incredibly rewarding. Developing a solid plan for trading with crypto assets is key to success, and it starts with understanding the market and its volatility. It’s also important to have a clear understanding of your own risk tolerance and investment goals.
Once you have these basics in place, you can start exploring the different trading strategies that are available to you, from swing trading to day trading to long-term investments. The key is to be patient, disciplined, and always willing to learn and adapt as the market evolves. With the right strategy and approach, trading with crypto assets can be a thrilling and profitable adventure.
Identifying reliable sources to get up-to-date information on cryptocurrencies
Cryptocurrencies have become increasingly popular in recent years, but with so much information available online, it can be difficult to separate fact from fiction. Therefore, it’s essential to identify reliable sources to stay up-to-date on the latest developments in this rapidly evolving industry.
Seeking out reputable news outlets, such as Bloomberg or Reuters, and following established experts in the field, like industry thought leaders and reputable Twitter accounts will help you ensure that you’re receiving accurate and trustworthy information. Ultimately, educating yourself on cryptocurrencies through reliable sources is crucial if you want to make informed decisions in this exciting but volatile market.
Managing risk by setting stop losses, placing take profits, and diversifying your portfolio
As an investor, managing risk is a crucial part of your success. One method to do so is by setting stop losses, which means setting an order to sell an asset when it reaches a specific price. This helps you to limit losses if a trade goes against you. Another technique is placing take profits, where you set an order to sell an asset after it reaches a certain level of profit. This way, you can secure gains earned from successful trades.
And, diversifying your portfolio can also reduce risk by investing in a range of assets, spreading out your investments, and reducing the exposure to any single security. Incorporating these strategies can help to mitigate risk, and enhance the resiliency of your portfolio.
Exploring tools and services available to traders to optimize their trading process and improve results
As technology continues to advance, traders have access to a wide range of tools and services that can greatly improve their trading experience. From robust trading platforms to sophisticated analytical software, there are many ways for traders to optimize their strategy and achieve better results. Whether you’re a seasoned trader or just starting out, knowing how to leverage these tools effectively is key.
Not only can these tools help you make smarter investment decisions, but they can also save you time and improve your overall trading process. So take the time to explore the various options available to you, and see how you can use them to take your trading game to the next level.
Crypto trading can be complex and overwhelming at times, but it can also be an exciting and rewarding activity with the right mindset and attitude. Having a good understanding of crypto trading markets, trends, and the underlying technology is essential to maximizing your potential success. Having the right resources to inform your decision-making and taking on the correct risk management measures are key to protecting your assets and minimizing losses.
Ultimately, trading in the crypto market requires discipline, caution, and knowledge – all of which you can develop by researching sources such as news sites, keeping track of trends, and building a portfolio according to your risk appetite. Armed with this information coupled with interactive tools and services for traders you should grow your portfolio safely in no time!
By Adedapo Adesanya
Food Concepts Plc neutralized the gains recorded by three securities, returning the NASD Over-the-Counter (OTC) Securities Exchange into the negative territory with a 0.27 per cent loss on Thursday, December 4.
Yesterday, the share price of the parent company of Chicken Republic and PieXpress declined by 34 Kobo to sell at N3.15 per unit compared with the previous day’s N3.49 per unit.
This shrank the market capitalisation of the OTC bourse by N5.72 billion to N2.136 billion from N2.142 trillion and weakened the NASD Unlisted Security Index (NSI) by 9.57 points to 3,571.53 points from 3,581.10 points.
Business Post reports that Central Securities Clearing System (CSCS) Plc went down by 50 Kobo to N38.50 per share from N38.00 per share, FrieslandCampina Wamco Nigeria Plc gained 29 Kobo to sell at N55.79 per unit versus N55.50 per unit, and Geo-Fluids Plc added 5 Kobo to close at N4.60 per share compared with Wednesday’s closing price of N4.55 per share.
Trading data indicated that the volume of securities recorded at the session surged by 6,885.3 per cent to 4.3 million units from the 61,570 units posted a day earlier, the value of securities increased by 10,301.7 per cent to N947.2 million from N3.3 million, and the number of deals went up by 146.7 per cent to 37 deals from the 15 deals achieved in the previous trading session.
At the close of business, Infrastructure Credit Guarantee Company (InfraCredit) Plc was the most traded stock by value on a year-to-date basis with the sale of 5.8 billion units for N16.4 billion, trailed by Okitipupa Plc with 170.4 million units worth N8.0 billion, and Air Liquide Plc with 507.5 million units valued at N4.2 billion.
InfraCredit Plc also finished the session as the most traded stock by volume on a year-to-date basis with 5.8 billion units transacted for N16.4 billion, followed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.2 million, and Impresit Bakolori Plc with 536.9 million units traded for N524.9 million.
By Dipo Olowookere
The upward trend witnessed at the Nigerian Exchange (NGX) Limited in recent sessions continued on Thursday as it further improved by 0.10 per cent.
This was despite investor sentiment turning bearish after the local equity market ended with 23 price gainers and 28 price gainers, indicating a negative market breadth index.
UAC Nigeria gained 10.00 per cent to finish at N88.00, Morison Industries appreciated by 9.94 per cent to N3.54, Ecobank rose by 8.53 per cent to N36.90, and Coronation Insurance grew by 8.47 per cent to N2.56.
On the flip side, Ellah Lakes depreciated by 10.00 per cent to N13.14, Eunisell Nigeria also shed 10.00 per cent to finish at N72.90, Transcorp Hotels slipped by 9.95 per cent to N157.50, Omatek shrank by 9.23 per cent to N1.18, and Guinea Insurance dipped by 8.46 per cent to N1.19.
Yesterday, the All-Share Index (ASI) went up by 152.28 points to 145,476.15 points from 145,323.87 points and the market capitalisation chalked up N97 billion to finish at N92.726 trillion compared with the previous day’s N92.629 trillion.
Customs Street was bubbling with activities on Thursday, though the trading volume and value slightly went down, according to data.
A total of 1.9 billion stocks worth N19.2 billion exchanged hands in 23,369 deals during the session versus the N2.3 billion valued at N21.0 billion traded in 21,513 deals a day earlier.
This showed that the number of deals increased by 8.63 per cent, the volume of transactions depleted by 17.39 per cent, and the value of trades decreased by 8.57 per cent.
For another trading day, eTranzact led the activity chart with 1.6 billion units sold for N6.4 billion, Fidelity Bank traded 31.0 million units worth N589.3 million, GTCO exchanged 28.3 million units valued at N2.5 billion, Zenith Bank transacted 27.1 million units for N1.6 billion, and Ecobank traded 21.9 million units worth N744.3 million.
By Adedapo Adesanya
The Naira marginally depreciated against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, December 4 amid renewed forex pressure associated with December.
At the official market yesterday, the Nigerian currency lost 0.01 per cent or 18 Kobo against the Dollar to close at N1,447.83/$1 compared with the previous day’s N1,447.65/$1.
It was not a different scenario with the local currency in the same market segment against the Pound Sterling as it further shed N15.43 to sell for N1,930.97/£1 versus Wednesday’s closing price of N1,925.08/£1 and declined against the Euro by 20 Kobo to finish at N1,688.74/€1 compared with the preceding session’s N1,688.54/€1.
Similarly, the Nigerian Naira lost N5 against the greenback in the black market to quote at N1,465/$1 compared with the previous day’s value of N1,460/$1 but closed flat against the Dollar at the GTBank FX counter at N1,453/$1.
Fluctuations in trading range is expected to continue during the festive season as traders expect the Nigerian currency to be stable, supported by intervention s by to the Central Bank of Nigeria (CBN)in the face of steady dollar demand.
Support is also expected in coming weeks as seasonal activities, particularly the stylised “Detty December” festivities, will see inflows that will give the Naira a boost after it depreciated mildly last month, according to a new report.
“As the festive Detty December season intensifies, inbound travel, tourism spending, and diaspora inflows are expected to provide moderate support for FX liquidity,” analysts at the research unit of FMDA said in its latest monthly report for November.
Traders cited by Reuters expect that the Naira will trade within a band of N1,443-N1,450 next week, buoyed by improved FX interventions by the apex bank.
Meanwhile, the crypto market was down as the US Federal Reserve’s preferred inflation gauge, core PCE, likely rose in September—moving in the wrong direction. However, volatility indices show no signs of major turbulence.
If the actual figure matches estimates, it would mark 55 straight months of inflation above the US central bank’s 2 per cent target. The sticky inflation would strengthen the hawkish policymakers, who are in favour of slower rate cuts.
Ripple (XRP) depreciated by 4.5 per cent to $2.08, Solana (SOL) went down by 3.8 per cent to $138.11, Litecoin (LTC) shrank by 3.1 per cent to $83.23, Dogecoin (DOGE) slid by 2.5 per cent to $0.1463, Cardano (ADA) declined by 2.1 per cent to $0.4368, Bitcoin (BTC) fell by 0.9 per cent to $91,975.45, Binance Coin (BNB) crumbled by 0.9 per cent to $899.41, and Ethereum (ETH) dropped by 0.7 per cent to $3,156.44, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 apiece.
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