Important steps that a trader should follow to achieve profit and avoid losses
The first step is to determine the trading amount and divide it into three parts: one part for the initial purchase, one part for buying the currency at a lower price than the purchase price, and the third part as cash ready for surprises
The second step is to choose the currency and determine the entry price, exit price, and profit percentage, deducting the commission value, i.e., the net profit.
To choose a currency, you should determine a set of currencies, follow them, and monitor their price range and the approximate time period between the highest and lowest price. Then, choose the best currency with a wide price range and determine the entry price, preferably from the lowest price or slightly above it.
The third step is to start speculation by buying the currency at the purchase price you have set, then offering it at the highest price it reaches or slightly lower. Then, buy the currency at a price lower than the purchase price, and follow the currency's movement. When it suddenly drops or rises to a low or high price, enter with the cash amount to benefit from the sudden drop or rise, then repeat that.
The fourth step, which is the most important and a major reason for profit, is not to rush. Be patient, endure, follow, and do not hurry. Wait and do not panic if the price drops and you rush to sell.
These are my strategies that I use, and thank God I have achieved good profits. There are other strategies that I will explain in a later article. Wishing everyone abundant profits. Follow $WCT - A call for contemplation.
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