Trading smartly is the key to profit, and there are four important steps that a trader should follow to achieve profit and avoid loss.
The first step is to determine the trading amount and divide it into three sections: one for the initial purchase, one for buying the currency at a lower price than the purchase price, and the third is cash ready for surprises
The second step is to choose the currency and determine the entry price, exit price, and profit percentage after deducting any fees, i.e., the net profit.
To choose the currency, a set of currencies must be selected and monitored, along with their price range and the approximate time period between the highest and lowest prices. Then, choose the best currency that has a wide price range and determine the entry price, preferably from the lowest price or slightly above it.
The third step is to start speculating by buying the currency at the purchase price you determined, 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. If it suddenly drops or rises to a very low or high price, enter with the cash amount to benefit from the sudden drop or rise, then repeat this.
The fourth step, which is the most important and a main reason for profit, is to not rush; be patient, endure, follow, and do not rush. Wait and do not panic if the price drops and you are tempted to sell quickly.
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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