In the recent time phase, everything on the planet Earth is going digital, and thus the stock market is also not far behind. Now, here we are going to acquaint you with such a trading app where trading will be just fun for you. Yes, you will get a chance to learn trading by using an online stock market app. So, here you will get a chance to know more about yourself than how you will set up and stand in the stock market in order to earn some profit.
So let's get started with the trading app where you can learn trading just by investing small amounts. And it is a “Trade the games” crypto app for learners. It is one among the best crypto trading games in India which brings gaming and crypto trading together. It acts like a playground for the individuals who want to learn trading. At the time you learn crypto trading by just investing small amounts, you earn actual money.
Before starting trading we need to know how we can avoid making mistakes in cryptocurrency trading? How can we ensure that we are on the green side? So, first of all you need to know that profitable trading requires a lot of attentiveness. Else, here are some tips or the essential things you need to know about online cryptocurrency trading.
Set up profit targets
Every trade we get into needs us to know when to get out whether it is making a bitcoin profit or something else. You need to establish a stop loss level. It will help you a lot in cutting the losses. It is one among the skills which is found in just some traders.
This same thing is also applied to the profit levels also. If you have certain targets to make profit then hit that out and leave it. Don't be greedy as it's never a nice color on anyone.
Learn FOMO
FOMO is just an abbreviation which indicates ‘fear of missing out”. You need to know that the crypto market is controlled by the large whales which put thousands of bitcoins in the order book of the market. What do these whales do? They stay with patience and wait for the traders like us to make some mistakes and they get the money from our silly mistakes.
Beware of that moment when the good candles seem to be screaming at you and telling you to jump in the crypto games. It is at this point that the whales I mentioned earlier will be smiling and watching you buy the coins they bought earlier at very low prices. Guess what normally follows? These coins usually end up in the hands of small traders and the next thing that happens is for the red candles to start popping up due to an oversupply and, voila, losses start trickling in.
Manage your risks
It is a correct saying that little pigs eat a lot but the big ones get eaten. This saying is quite true in the trading in the crypto You need to know that wise traders never run in the directions of massive profits. They will work for getting small but the sure profits in trading. So, consider investing less of your portfolio in the market which is less liquid because high trades require more tolerance and ability to bear losses too.
Don’t buy simply because the price is low
It is the mistake done by a number of beginners. They buy the coins just because the price seems low and they consider it affordable. The decision to invest in a coin should have very little to do with its affordability but a lot to do with its market cap.
So, you just need to use the market cap of a coin by using the blockchain technology to decide whether you should invest in it or not using a particular price. It is because the higher the market cap of a coin, the more it is suitable for investment in the crypto market.
Super Tip
This is one among the most important and final tips while learning the trading. This is the tip you need to implement immediately in your trading. You need to use the goal setting feature just by placing the sell orders. It is because you never know when your order price will be met in the market by giving you the returns that you desired to get.
It is also important for you to trade objectively rather than emotionally.
Apart from the above described tips, you need to ensure that you pay keen attention to the market forces of demand and supply in order to know about the application of certain tips in the blockchain games.