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
The NASD Over-the-Counter (OTC) Securities Exchange recorded a mixed outcome on Wednesday, January 15 after it welcome a new entrant.
Paintcom Investment Nigeria Plc joined the OTC securities exchange yesterday with shares admitted at a unit price of N10.72 and a market capitalisation of N8.5 billion.
However, when trading activities closed for the session, the alternative stock exchange went down by 0.10 per cent, with the NASD Unlisted Security Index (NSI) depreciating by 3.03 points to 3,093.16 points from the 3,096.19 points recorded in the previous session.
But the value of the trading platform increased by 0.7 per cent or N7.54 billion to settle at N1.068 trillion compared with the preceding day’s N1.061 trillion.
The volume of securities traded in the session went down by 83.2 per cent to 666,494 units from the 3.97 million units recorded in the preceding session, while the value of shares traded during the session jumped by 98.2 per cent to N16.5 million from N8.3 million, with the number of deals going down by 20 per cent to 20 deals from 25 deals.
Industrial and General Insurance (IGI) Plc gained 3 Kobo to close at 30 Kobo per share versus 27 Kobo per share, Mixta Real Estate Plc increased by 23 Kobo to N2.58 per unit from N2.35 per unit, and Central Securities Clearing System (CSCS) Plc added N1.15 to settle at N23.20 per share, in contrast to Tuesday’s closing price of N22.15 per share.
Further, Afriland Properties Plc grew by 75 Kobo to N16.25 per unit from N15.50 per unit and Geo-Fluids Plc expanded by 13 Kobo to N4.79 per share from N4.66 per share.
On the flip side, 11 Plc fell by N27.74 to close at N253.10 per unit compared with the previous session’s N280.84 per unit and FrieslandCampina Wamco Nigeria Plc lost 55 Kobo to finish at N38.95 per share versus N39.50 per share.
FrieslandCampina Wamco Nigeria Plc remained the most active stock by value (year-to-date) with 3.4 million units worth N134.9 million, followed by Geo-Fluids Plc with 8.9 million units valued at N43.0 million, and Afriland Properties Plc with 690,825 sold for N11.1 million.
IGI Plc closed the day as the most active stock by volume (year-to-date) with 23.5 million units sold for N5.3 million, trailed by Geo-Fluids Plc with 8.9 million units valued at N43.0 million, and FrieslandCampina Wamco Nigeria Plc with 3.4 million units worth N134.9 million.
By Adedapo Adesanya
The Naira depreciated on the American currency in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, January 15 by 0.09 per cent or N1.45 to close at N1,551.10/$1 compared with the preceding day’s N1,549.65/$1.
It was the fourth straight session the local currency was losing value on the greenback in the official forex market as the deadline to end the access of Bureaux De Change (BDCs) to the official trading platform nears.
Also, Nigeria’s inflation neared a 29-year high as it rose for the fourth straight month to 34.80 per cent in December 2024 spurred by high festive activities.
On the British currency, which is the Pound Sterling, the domestic currency depreciated by N24.79 to wrap the session at N1,904.43/£1 versus the previous day’s N1,879.64/£1 and against the Euro, it weakened by N14.74 to sell for N1,600.79 per Euro versus N1,586.05/€1.
At the parallel market, the Nigerian Naira traded flat against the US Dollar yesterday at N1,650/$1, according to data obtained by Business Post.
In the cryptocurrency market, most of the tokens gained as the anticipation of Mr Donald Trump’s inauguration as US president is building bullish sentiment for the market, which was also encouraged by a highly anticipated CPI inflation data report in the US.
Litecoin (LTC) grew by 17.7 per cent to quote at $119.82, Ripple (XRP) expanded by 9.0 per cent to a six-year high of $3.10, Solana (SOL) appreciated by 7.2 per cent to trade at $202.81, Dogecoin (DOGE) rose by 5.3 per cent to finish at $0.3789, Ethereum (ETH) increased its value by 4.7 per cent to end at $3,376.28, and Cardano jumped by 3.3 per cent to settle at $1.06, Bitcoin (BTC) gained 2.8 per cent to close at $99,707.22, and Binance Coin (BNB) improved by 1.6 per cent to trade at $710.31, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
By Adedapo Adesanya
The oil market rose more than 2 per cent on Wednesday, supported by a large draw in US crude stockpiles and potential supply disruptions caused by new US sanctions on Russia.
Brent crude futures appreciated by $2.11 or 2.64 per cent to $82.03 a barrel and the US West Texas Intermediate (WTI) crude grew by $2.54 or 3.28 per cent to close at $80.04 a barrel.
The US Energy Information Administration (EIA) reported an inventory dip of 2 million barrels for the second week of the year.
The change estimated by the EIA compared with a modest draw of around 1 million barrels for the previous week, which also saw sizable fuel inventories build that dragged oil prices lower.
For the week to January 10, the EIA estimated an inventory build of 5.9 million in gasoline, with production averaging 9.3 million barrels daily. This compared with a build of as much as 6.3 million barrels for the previous week when production averaged 8.9 million barrels daily. That build was the second sizable weekly one after 2024 ended with a build of 7.7 million barrels in gasoline inventories.
The latest round of US sanctions on Russian oil could disrupt Russian oil supply and distribution significantly, the International Energy Agency (IEA) said in its monthly oil market report.
The Paris-based agency said that the sanctions on Iran and Russia cover entities that handled more than a third of Russian and Iranian crude exports in 2024, adding that the market will be in surplus this year as supply growth led by countries outside the Organisation of the Petroleum Exporting Countries and its allies, OPEC+ exceeds subdued expansion in world demand.
This aligns with an earlier projection by the EIA which assumes that OPEC+ would roll back its production cuts and that non-OPEC production would continue leaping forward.
Limiting the gains was fresh developments in the Middle East as Israel and Hamas agreed to a deal to halt fighting in Gaza and exchange Israeli hostages for Palestinian prisoners.
OPEC in its monthly oil report on Wednesday forecast stronger demand growth than the IEA of 1.45 million barrels per day this year and, in its first look at 2026, predicted a similar expansion of 1.43 million barrels per day next year.
OPEC expects global oil demand to rise by 1.43 million barrels per day in 2026, maintaining a similar growth rate to 2025.
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