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Is it too late to start trading in 2021?

How to Start Trading in 2021?

Last year was a year of increased volatility which created many opportunities both for experienced traders and lucky newcomers who took advantage of the moment. But in 2021, it is not too late to begin your trading journey.
3 Inspiring Books About Trading to Read
The first half of the year showed that there are still plenty of possibilities, but it is important to know how to make the most of them. Read about the 5 crucial steps to begin your trading journey and not lose everything at the very beginning.

2020 was a year of rapid volatility on all the trading markets, and the sharp ups and downs attracted many new traders, among which many succeeded in taking advantage of the conditions. But as countries and businesses are recovering and adapting to the new reality, such drastic price swings aren’t as common. So are there still opportunities to be found in trading, and if so, what are the steps one may consider taking to start trading online in 2021? 

The answer is yes: online trading is becoming more popular and even if the intense volatility stayed in 2020, the possibility of considerable outcomes didn’t. So, how to start trading in 2021? If you are a novice trader, somebody who just recently discovered the world of online trading and you don’t know what the key points to consider are, you need to know one important fact: rash decisions won’t bring any good. 

Many traders lose their hard-earned money within the first couple of weeks of trading — they dive straight into trading, without learning anything about the way trading works. Such an approach is not going to bring any positive outcomes, so instead of hurrying, take your time to nail down the very basics of trading. Read our guide below including five basic steps you may take into consideration should you decide to start your trading journey in 2021.

(Is it too late to start trading in 2021?)

1. Choose your trading instrument

Contrary to what others may say, choosing the right trading instrument for you is one of the most important things to do when you are just beginning. What do you prefer: Stocks, Forex, Cryptos? Maybe you are specifically interested in trading commodities? Or maybe you don’t mind trying it all.

Regardless of what you end up picking, this step will encourage you to study, even if briefly, about every trading instrument out there. This way you will know what’s available to you and what the pros and cons are.

2. Pick your broker and open an account

This one may seem obvious, but choosing your broker is just as important. The available trading assets, fees, spreads, deposit and withdrawal conditions will all depend on your broker. There are many comparison articles about different online brokers out there: compare the existing brokers and choose the one that suits you best.

Register an account and learn all about the features and analysis instruments that are available. Make sure you understand the interface and that it’s easy for you to use. This will ensure a smoother trading process.

3. Get a grasp of the market

To understand the full picture of what you are dealing with, start following market news. Such resources as Yahoo Finance, Google Finance and Investing should already be in your bookmarks, make sure that you check them daily to stay on top of the news. 

To better understand the very basics, you may check the must-read books for traders that are gathered in this article. Books are a good way to get familiar with the world of investing and trading, without rushing to make big deposits straight away.

4. Learn about technical and fundamental analysis 

What do you see when you look at a price chart? If you see a price that goes up and down, you see only a small fraction of what’s actually there. Volatility, consolidation, choppiness — all these terms have a meaning and it’s important to learn what actually makes the chart move. Analyzing the chart is a huge part of a trader’s approach and outcome. Without analysis, one can only guess, and guessing is not a valid trading approach. 

Mastering fundamental analysis may give you the skill of planning your next trade after reading a piece of economic news while acing technical analysis might give you the ability to find patterns in the price chart and take advantage of them before anyone else. Learn all about chart patterns, timeframes, chart types, indicators, and the economic calendar. 

It may seem like a lot of information to take in at once, but you don’t have to. Spread the topics and take them in one after another. Too much information might only confuse you — it is important to take it slow and pay attention to what you are learning about.

5. Practice

Many brokers, including IQ Option, provide a Practice account which you can use for practicing as long as you like. No need to use real money, especially not until you have a working trading approach all planned. Make lots of trades and try different assets, time periods, test different indicators and find what is best for you. Don’t forget to analyze both your successes and failures to understand what should be corrected. 

Another important point to remember is risk management — include money management techniques to your trades and later on make sure to carry them through to the Real account as well.

Is it too late to start trading in 2021?

Conclusion

It is never too late to become a trader, but it is important to enter this field with a deep understanding of how trading works. This is why spending time on theory about the markets is never a waste of time. Extensive practicing may allow you to build better trading approaches, but always keep risk management in mind and actively include it in your trading. Test your strategies and don’t get discouraged by failures — they are a part of the learning process.

NOTE: This article is not investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warrant that any such movements or levels are likely to reoccur in the future.
In accordance with European Securities and Markets Authority’s (ESMA) requirements, binary and digital options trading is only available to clients categorized as professional clients.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
71% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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How to Decide What to Invest In?

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How to Decide What to Invest In?

An important issue for every trader is the decision on which assets to invest in. Here you are, ready to step into the world of trading: you already know the basics of technical and fundamental analysis, however, the question of which assets to pick still remains. While you may already know how to evaluate stocks, sometimes it is still hard to decide. Here are several things you may take into consideration according to your trading appetite.

1. Explore future trends

Sometimes it so happens that you find out about a company only after a big move has already happened. If you notice that you are often late to notice major price swings, take your time to explore the emerging trends that might push certain industry’s leaders to Tesla’s scale. Thinking about the future rather than the present might be wiser, especially if you are inclined towards the long-term approach. However, even if you prefer making quick trades, being aware of “what’s hot” might be helpful.

In order to stay on top of emerging trends, you may follow the reports that large research and advisory companies issue. For example, one of such companies is Gartner, which provides reports on a wide variety of topics: IT, marketing, finance and so on. To use the information in order to make better informed decisions, you may learn about the industries with great potential and then find stocks of companies that are developing in that field, etc.

2. Turn to well known investors for inspiration

If you’ve always looked up famous traders like for example Warren Buffet and admired his success, why not learn from his actions? Large hedge funds and famous investors made investing and trading their main goal. They spend time and money on research, so their portfolios are definitely worth at least taking a look at. To draw inspiration from the professionals, you may peek into what they choose. However, always keep in mind that there are risks involved.

Such giants as Berkshire Hathaway, Fisher Asset Management, Renaissance Technologies and others have a big selection of stocks and surely you might find something that could, if not interest you, at least point at a direction which you haven’t explored yet.

One thing to remember, of course, is that unlike hedge funds you, most likely, don’t have billions of dollars to risk. Learn about the professional investors’ preferences as it might assist enhance your trading approach and possibilities.

Read More: God alone is the solution

3. Rely on your “circle of competence” more

“Circle of competence” is a term introduced by Warren Buffett and Charlie Munger to describe areas that an individual has greatest familiarity with. According to the investors, a trader needs to focus their financial investments on the areas they have higher competence in. 

Such an approach has undeniable benefits, since operating within your field of expertise gives you the advantage of deeper knowledge and understanding of the processes. One’s circle of competence may be determined by their profession, spending habits, types of products and services they use, and even location. 

Favoring stocks of companies that a trader has actual knowledge about or experience with over fields that are completely foreign to them may give them a better chance of understanding. However, note that this approach has its disadvantages, too: for instance, with this approach, a trader may end up with a less diversified portfolio, which might be quite risky.

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Bitcoin’s Creator Satoshi Nakamoto Is Now a Member of the Top 20 World’s Richest People

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Bitcoin's Creator Satoshi Nakamoto Is Now a Member of the Top 20 World's Richest People

(Cbl Business)-This week our Business news desk covered the world’s wealthiest cryptocurrency billionaires after the American business magazine Forbes published the 2021 list of billionaires. Now it was mentioned in our report that Satoshi Nakamoto didn’t make the cut, even though Bitcoin’s inventor is one of the wealthiest people in the world. Using today’s bitcoin exchange rates, data shows that if Nakamoto has 1 million bitcoin, then the infamous creator has made it into the top twenty, as far as the world’s wealthiest billionaires are concerned.

Bitcoin’s Creator Is a Member of the 1%

The mysterious creator behind the Bitcoin project is unknown and there is very little information out there concerning the identity of the blockchain inventor or group of inventors.

However, there is some information that the community is aware of, and it is well known that Satoshi Nakamoto helped kickstart the network and was with the community up until 2010. It is estimated that Nakamoto holds at least 750,000 to 1.1 million bitcoin (BTC) from when the creator mined tokens back in the early days.

It is also understood that Nakamoto has never spent these coin base rewards gathered during the first year Bitcoin launched. Now leveraging current bitcoin (BTC) exchange rates shows that Satoshi Nakamoto is a very rich person today, as the inventor possesses over $59 billion in wealth.

Bitcoin's Creator Satoshi Nakamoto Is Now a Member of the Top 20 World's Richest People

This is of course if Satoshi Nakamoto has access to the 1 million BTC estimate and the $59 billion+ doesn’t include the forks he owns too. Nakamoto’s bitcoin cash (BCH) stash is worth over $650 million and the bitcoinsv (BSV) cache the inventor owns is worth over $250 million. Satoshi Nakamoto also has access to 1.1 million bitcoin gold (BTG), and all the other forks that exist if the inventor still has the private keys.

With just the BTC stash alone, this puts Satoshi Nakamoto in the top 20 positions, according to the “Forbes Billionaires 2021” list. Nakamoto is positioned just above the financial media mogul Michael Bloomberg (20) and Rob Walton (20) the oldest living son of the Walmart founder Sam Walton

Nakamoto Climbed From the World’s 159th Richest Person to the 19th in Just 5 Months

Bitcoin’s inventor would be in the 19th position using today’s BTC exchange rates and with the corresponding exchange rates of forks like BCH, BSV, and BTG, it would still make him a hair below Jim Walton another son of Sam Walton.

Now our news desk covered the fact that Satoshi Nakamoto is slowly moving toward Jeff Bezo’s number one position and what the price of BTC needs to be to get there. With close to $60 billion in assets, Nakamoto is not yet a centibillionaire and BTC still has a ways to go for the inventor to even come close to Bezos and Musk.

It’s not out of the question to believe that Satoshi Nakamoto can make it to Bezo’s position, as Bitcoin’s inventor held the 157th richest person worldwide position back in October 2020. Being a member of the top 20 wealthiest billionaires is no small task and the mysterious and unknown creator of Bitcoin has accomplished this feat.

Read More: Buy/Sell Bitcoin or Gift Card

Read More: About more than 230,000 crypto traders were liquidated in last 24hrs

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