Choose a reliable platform (like Binance)
• Make sure the platform is licensed and secure.
• Enable two-factor authentication (2FA) to protect your account.
2. Understand two types of trading:
• Spot Trading: You buy and sell the currency directly.
• Futures Trading: You buy and speculate whether the price will go up or down (riskier and more speculative).
3. Set a fixed "trading strategy":
• Do not buy and sell randomly.
• Define a profit margin and a loss limit before entering.
• Example: "I will sell if I make 10% profit or lose 5%.".
4. Technical analysis helps you choose the right entry and exit time
• Follow candlestick patterns, support and resistance levels.
• Use indicators like RSI and MACD.
5. Don’t buy during hype (FOMO)
• If you see everyone buying a currency, it doesn’t mean you should enter because the price might collapse suddenly.
6. Keep an eye on the news
• Currencies are affected by economic and political news.
• Follow currency news, such as updates on Ethereum or Bitcoin halvings.
7. Psychological trading is important!
• Do not enter when you are anxious or overly excited.
• Learn patience and wait for the opportunity.
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Golden tips for beginners:
• Do not put all your money into one currency.
• Do not use leverage initially.
• Learn from a demo account first or with small amounts.
• Keep a notebook to record every trade: how much you bought, the reason, what the outcome was.