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 as cash ready for surprises.
The second step is to choose the currency and determine the entry price, exit price, and profit percentage after deducting the commission value, i.e., the net profit.
To choose the currency, a set of currencies must be determined and monitored along with their price range and the approximate time period between the highest and lowest price, then choose the best currency that has a wide price range and set 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 buying the currency at a price lower than the purchase price and monitoring the currency's movement. When it drops or rises quickly to a sudden 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: Don't rush, be patient, keep monitoring, and don't panic if the price drops and you feel rushed 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 as an invitation to reflect.
How to trade smartly.
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