my goal is to help others achieve financial freedom through smart investing and risk management. Let's connect and explore the world of trading together!"
đ The Rise of Fake Crypto Arbitrage Trading Platforms: A Growing Scam You Must Know About.
Over the years, we've seen many crypto scams, but this one stands out as one of the most dangerous: â ď¸Crypto Arbitrage Trading.
What is crypto arbitrage? Why is it being used for scams? Let's break it down đ
đ What is Crypto Arbitrage?
Well, crypto arbitrage trading simple means trading between two exchanges, you buy a particular coin at the lowest price on first exchange and sell it at the highest price on second exchange. So simple right?
Now why is it dangerous and scam?
đ Here's the Danger Part.
There are a lot of ads, fake account, or sites promoting crypto arbitrage trading. These platforms claim to use advanced algorithms to exploit price differences between exchanges "aka crypto arbitrage". Sounds legit, right? But here is the tricks..đ
đ The New Scam Format đ
These scammers operate a network of cloned or rebranded sites claims to offer a higher prices, secure swap, risk free trading and etc... it's all fake. Once you deposit crypto you see profits but it's fake. Don't fall for it. Here's Why! đ
â ď¸This is what happens after making a deposit:
đşLock Withdrawal: All funds will be frozen and you won't be able to withdraw your funds. đşDemands KYC or more deposit to unlock funds: The site or their customer assistance will ask you to complete invasive KYC via a suspicious third-party or deposit a minimum of some amount before you can make a withdrawal or get no refund at all.
This sites often uses fake 5-star reviews floating on some legit review platforms. Some users reporting losses ranging from $200 to $80,000, thinking they have discovered a new crypto trading strategies.
Yeah! there's real arbitrage trading but it's competitive, complex and never risk free. Protect yourself and use trusted exchange like..#Binance
END OF POST.
đ Share this post to protect others, Let's raise awareness and the more people we reach, the few people will fall for this scammers trap. Don't forget to always #DYOR #ScamAlert đ¤
Just in federal judge has ordered Ripple to pay a $125 million civil penalty to the Securities and Exchange Commission (SEC), effectively drawing a close to their protracted legal dispute.
While the financial penalty is substantial, the core of the SEC's case, classifying XRP as a security, has been dismissed. $XRP #MarketDownturn
[Follow your trading plan regardless of each tradeâs outcome]
When I was a 7-year-old, my teacher would give me a âstar stickerâ whenever I put in the effort to do my homework, regardless of whether the answer is right or wrong.
In other words, she rewards effort, not the outcome.
If you think about it, this approach is highly suitable for trading.
You should reward yourself whenever you follow your trading plan regardless of whether the trade is a winning or a loser.
So hereâs how the star system worksâŚ
- Every time you follow your plan, you get 1 star - Every time you didnât follow your plan, you get -2 stars - The goal of the star system is to accumulate 100 stars
As you can see, the focus isnât to make profits.
Rather, itâs to accumulate as many stars as possible by being consistent with your actions.
Remember, a consistent set of actions lead to a consistent set of results.
[The hidden cost of copy trading that nobody tells you]
Copy trading is a business.
So, if youâre not being charged any upfront fee, then youâre paying more for the spread and overnight fees.
Iâll explainâŚ
For most Forex brokers, the spread on EUR/USD is 1 pip. But on a copy trading platform, you might pay 2 to 3 pips more.
But donât take my words for it because you can compare the spreads of a normal Forex broker with a copy trading platform and youâll see the difference.
So, whatâs the implication?
Two things.
#1: If youâre a trader being copied, then bear in mind your trading strategy wonât work as well because youâre paying more in spread (compared to a typical Forex broker).
#2: If youâre copying another trader, then itâs best to follow traders who trade infrequently so the spread doesnât eat up a huge chunk of your profits.
Now, the spread isnât your only cost because you still have to consider overnight fees (if youâre holding positions for longer than a day).
This fee is calculated by taking Libor + X%.
(Libor stands for inter-bank offered rate. Itâs an interest rate that banks charge to other banks for borrowing the money.)
So, what is X?
Well, this is the mark up thatâs determined by the copy trading platform and youâll need to check with them for the exact amount.
The good news is, you donât have to worry about calculating all these because the platform will likely do it for youâso do check it out before placing a trade.
Now, there are probably other fees to consider but the spread and overnight fees make up the chunk of it.
The U.S. stock market crashed hard today, losing $1,930,000,000,000 (nearly $2 trillion) in the first 15 minutes of trading. Surprisingly, cryptocurrency markets seem to be holding up so far.
The Factory Orders m/m indicator shows changes in the volume of orders for durable and non-durable goods received by US companies in the given month compared to the previous one.All new orders for manufactured goods are included in calculation. Here, an order is a message of intention to purchase goods with immediate of future delivery. The statistics only includes orders confirmed by mandatory legal documents (contracts, letters, checks, etc.). Canceled orders are not included in the report.Data for processing are obtained from the survey of industrial companies with monthly deliveries of $500 million and more. However, in order to increase the representativeness of the sample, the survey also includes carefully selected smaller enterprises.The indicator is included in the so called M3 report which characterizes the activity in the US industrial sector. In addition to the number of orders, it takes into account the amount of stocks shipment of goods. M3 is used for short-term predictions of production activity.Growth in the number of orders is an indirect characteristic of consumer demand for manufactured goods. It allows forecasting an increase in production activity in the near future. This may affect dollar quotes positively.
Update on $TRB finally broke through the $65.00-70.60 support level and has now reached the $45.00 level.
Considering the current downward trend and price reduction to the historical demand area, we cannot expect much support now, but the price can rest a little in these areas and provide the necessary liquidity for growth again.
I May Not Have Much Followers But I Can Give You Info That Those With 100k Followers Won't Give You.
Continue your reading and take your chance.
In 06/2023 TRB moved down to $7+ which is it's second lowest in the market history. Two months later it recorded a price of $16+ in 08/2023 and later on moved up to $66+ in 09/2023 and continues it's strength at $79+ to $119+ Higher in 10/2023 đ In the following month which is 11/2023 TRB moved up to $143+ which was it's second highest then and dropped down to $80+ in same month đ đ¨Here is the shock NEWS đ¨ in 30/12/2023 TRB recorded a record of $265+ in it's history which was Higher than its previous $164+ in 2021 𤯠and following the next day which is 31/12/2023 there was a bullish run which sees TRB at the price of $629+ highest in it's history ever till date đ¤Żđ¤Ż
TRB then dropped down to $121+ in the first year of 01/01/2024 and bounce back to $166+ in same month which is it's currently highest price in this year and dropped down $120+ in 02/2024. In 03/2024 and 04/2024 there was a bearish downtrend which sees TRB to trade in range between $41 and $100. It later on recorded it's second highest of $149+ in the year 2024 on 05/2024 and currently it is trading at the price of $100+ đđđ¤
Now Applying Trading Wisdom In What You Just Read, When Do You Think It's The Perfect Time To Buy?đ
#MarketDownturn #Bitcoin decreased by more than 15% in the last 24 hours and fell below the level of $53,530. The fall has been stronger than before, and the previous support level has also been broken. The probability of the price continuing to fall to $50,000 is now very high because this is the next level of demand.
A wallet supposedly associated with Jump Trading moved 17,576 ETH to centralized exchanges, according to Spot On Chain.
Ether's (ETH) price cratered as a prominent crypto trading firm moved large amounts of ETH to centralized exchanges in preparation for potential liquidation.
Ethereum's native token, the second-largest cryptocurrency by market value, has dropped 20% in 24 hours, hitting a seven-month low of under $2,100 during Monday's Asian hours, according to CoinDesk data.
In the past 24 hours, a wallet identified as Chicago-based trading heavyweight Jump Trading by onchain sleuth Spot On Chain transferred 17,576 ETH worth over $46 million to centralized exchanges. In June, reports emerged that Jump Trading was being probed by the CFTC.
The wallet has moved nearly 90,000 ETH to exchanges since July 25 and still holds 37,600 wstETH and 11,500 stETH at press time. wstETH is the DeFi-compatible version of Lido's staked ether (stETH).
"The reason for the crazy crypto sell-off seems to be Jump Trading, who are either getting margin called in the traditional markets and need liquidity over the weekend, or they are exiting the crypto business due to regulatory reasons (Terra Luna related)," Dr. Julian Hosp, CEO and co-founder of decentralized platform Cake Group said on X.
The supposed liquidation over Sunday and early Monday has drawn the crypto community's ire. The said time frame is generally characterized by weak liquidity or the ability of the market to absorb large orders at stable prices.
Now those who were laughing at me should come again 𤣠they don't have the strength now đ Since i found out this chart đ i haven't traded any and i know it was a perfect choice without a mistake đ I'm still waiting for more dip before i will start trading because rome wasn't built in a day đ If you really wanted protect your account and also your money stay out of from the market now cuz you may lose what you can afford to đ $BTC is not reaching $100,000 today nor tomorrow and it's a fact đ§
Don't let anyone deceived you that there will be a bullish run again within this moment. This chart was posted on 14th of last month showing that $BTC will definitely drop down but people keep ignoring it because i don't have much followers đ¤¨Most of the people here are giving out false and unanalysed information without doing a possible research sake of trend. The market is falling and we should simply accept that and stop giving out false information to the people making them lossing their assets đ¤¨
We should expect higher volatility downtrend within this week and it's a 80% possible that $BTC may drop to 36k to 24k within this month. WHY???
ETF is coming ETF is coming ETF is coming, where's the change? what impact exactly has it help the market? đ𤣠I found it funny and thank myself that i didn't fall for this trick đđ JUST IN: $100 million liquidated from the cryptocurrency market in the past 60 minutes.
in just 60 minutes and here we are 100 million liquidation đŚ have you think off what is coming? I always says in trading when there's a hype there become a big loss to the market đ when you say it then those who got nothing to loss will defend it because they have what they can afford to lose but the question is do you? do you have what you can afford to lose? lossing your $10 $50 $100 $200.... just because of over hyping news is the painful thing in trading đ I remember fighting people over $SHIB which they say it will reach $1 soon đđ many people fall for it and now most of them are in bankrupt because they lack researching and learning they only depend on news đ now people are not taking about $NOT again because it was too over hype đ the thing is if you don't have money that you can afford to lose then just do your research well before falling for any fake news đ one person can just wake up today and decide to crush the market down but one person can not decide to push it up so think of it when taking any risks with the little capital you have đ
JUST IN: Over $1.1 trillion was wiped out from the US stock market today. and $100 million liquidated from the cryptocurrency market in the past 60 minutesđ¤Żđ¤Ż
There's a new game on board which is similar to Hamster Kombat but this one pays you a ton coin right away after inviting friends đš it is called Rocky Rabbit đ° check it outđđđ https://t.me/rocky_rabbit_bot/play?startapp=frId759204094 Rocky Rabbit: Fun and Earnings! đ°đ Play Rocky Rabbit for fun and profit! Join through this link and letâs start our profitable journey together!
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