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
Three bellwether stocks lifted the NASD Over-the-Counter (OTC) Securities Exchange by 0.62 per cent on Friday, December 12 with the NASD Unlisted Security Index (NSI) jumping by 22.20 points to 3,600.43 points from 3,578.23 points.
In the same vein, the market capitalisation of the trading platform increased by N13.28 billion to close at N2.154 trillion from the previous day’s N2.140 trillion.
During the session, Central Securities Clearing System (CSCS) Plc went up by N2.53 to close at N39.71 per share compared with the previous day’s N37.18 per share, Geo-Fluids Plc added 35 Kobo to its price to finish at N5.00 per unit versus Thursday’s closing price of N4.65 per unit, and FrieslandCampina Wamco Nigeria Plc appreciated by 23 Kobo appreciation to sell at N60.23 per share versus N60.00 per share.
It was observed that yesterday, the price of Golden Capital Plc went down by N1.05 to N9.45 per unit from N10.50 per unit, and UBN Propertiy Plc declined by 21 Kobo to N2.01 per share from the N2.22 per share it was traded a day earlier.
There was a significant improvement in the level of activity for the day, as the volume of transactions increased by 6.2 per cent to 37.4 million units from the previous day’s 35.2 million units, the value of trades went up by 265.1 per cent to N4.9 billion from N1.4 billion, and the number of deals soared by 13.80 per cent to 33 deals from 29 deals.
Infrastructure Credit Guarantee Company (InfraCredit) Plc ended the last trading day of this week as the most active stock by value on a year-to-date basis with 5.8 billion units valued at N16.4 billion, the second spot was taken by Okitipupa Plc with 178.9 million units traded for N9.5 billion, and third space was occupied by a new comer in MRS Oil Plc with 36.1 million units worth N4.9 billion.
InfraCredit Plc also finished the session as the most active 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 valued at N420.3 million, and Impresit Bakolori Plc with 537.0 million units sold for N524.9 million.
By Dipo Olowookere
The bullish run on the Nigerian Exchange (NGX) Limited continued on Friday with a further 1.00 per cent growth buoyed by gains recorded by Guinness Nigeria, Champion Breweries, and others.
Data showed that the consumer goods space expanded by 1.53 per cent during the last trading session of the week, as the insurance counter grew by 0.51 per cent, and the industrial goods sector marginally gained 0.01 per cent.
However, the banking index depreciated by 0.54 per cent due to a pocket of profit-taking, and the energy industry shrank by 0.09 per cent, while the commodity sector closed flat.
Guinness Nigeria gained 10.00 per cent to trade at N217.80, Morison Industries rose by 9.84 per cent to N4.69, Champion Breweries jumped by 9.69 per cent to N14.15, Austin Laz grew by 9.66 per cent to N2.27, and C&I Leasing appreciated by 9.62 per cent to N5.70.
Conversely, eTranzact lost 10.00 per cent to finish at N12.60, Chellarams slumped by 9.00 per cent to N13.20, Eunisell depleted by 9.89 per cent to N75.15, Africa Prudential moderated by 9.77 per cent to N12.00, and DAAR Communications decreased by 9.18 per cent to 89 Kobo.
The busiest stock on Friday was Access Holdings with 107.6 million units sold for N2.2 billion, Consolidated Hallmark traded 59.9 million units worth N245.8 million, Zenith Bank transacted 48.2 million units valued at N3.1 billion, Transcorp Power transacted 42.8 million units for N13.1 billion, and Champion Breweries exchanged 36.4 million units valued at N510.2 million.
At the close of business, a total of 602.8 million units worth N30.7 billion exchanged hands in 20,550 deals yesterday, in contrast to the 529.7 million units valued at N12.3 billion traded in 18,159 deals on Thursday, representing a surge in the trading volume, value, and number of deals by 13.80 per cent, 149.59 per cent, and 13.17 per cent apiece.
Business Post reports that the All-Share Index (ASI) soared during the session by 1,485.89 points to 149,436.48 points from 147,950.59 points and the market capitalisation moved up by N945 billion to N95.264 trillion from N94.319 trillion.
By Adedapo Adesanya
An intervention of the Central Bank of Nigeria (CBN) in the foreign exchange (FX) market eased the pressure on the Naira on Friday.
The apex bank sold forex to banks and other authorised dealers in the official window to defend the domestic currency, helping to calm the FX demand pressure, with the Nigerian currency appreciating against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) by 0.11 per cent or N1.57 to sell at N1,454.50/$1 compared with Thursday’s closing price of N1,456.07/$1.
Also, the domestic currency improved its value against the Pound Sterling in the official market yesterday by N3.95 to close at N1,946.15/£1 versus the previous day’s N1,950.11/£1 but lost 10 Kobo on the Euro to quote at N1,706.46/€1 compared with the N1,706.36/€1 it was exchanged a day earlier.
At the black market segment, the Nigerian Naira maintained stability against the Dollar during the session at N1,470/$1 and also traded flat at N1,463/$1 at the GTBank forex counter.
Despite the sigh of relief, demand pressures outweighed the robust supply from the CBN and inflow from offshore players looking to participate at the OMO bills auction.
Gross FX reserves increased for the twenty fifth consecutive week, growing by a strong $396.84 million week-on-week to $45.44 billion.
As for the cryptocurrency market, it was down on Friday as pressure remained after Federal Reserve chair Jerome Powell’s speech on Wednesday, which hinted at a possible rate cut pause in January. As a result, markets now expect only two rate cuts in 2026 instead of three.
However, Chicago Federal Reserve President Austan Goolsbee, who was against a December rate cut, said he expects more in 2026 than the current median projection.
Ethereum (ETH) slumped by 5.1 per cent to $3,090.61, Solana (SOL) declined by 4.5 per cent to $132.79, Cardano (ADA) depreciated by 3.8 per cent to $0.4103, and Dogecoin (DOGE) dropped 2.5 per cent to trade at $0.1373.
In addition, Bitcoin (BTC) lost 2.4 per cent to sell at $90,342.74, Litecoin (LTC) tumbled by 1.9 per cent to $81.86, Binance Coin (BNB) fell by 0.6 per cent to $886.93, and Ripple (XRP) slipped by 0.5 per cent to $2.02, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
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