Post
Topic
Board Trading Discussion
Re: What factors do you consider when opening a trade position?
by
mirakal
on 20/11/2024, 12:45:10 UTC

There's practically one that intrigues me - "stick to what works for you".

But that's not all. We'll still need to:
1. Choose an exchange with high liquidity.
2. Choose an exchange that is cost-effective in terms of trading fee.

This is very important. While no strategy is perfect, it’s always better to stick with one that has already proven profitable for you. Constantly switching strategies often means you’re unsure of your ideas, which only leads to more confusion about what to do next.

In fact, here’s all we really need to do:
 - Choose a reputable trading site with high trade volumes.
 - Choose highly volatile currencies for better opportunities.
 - Stay focused on our trading activities.

Keep it simple and consistent—that’s how we stay ahead in the game! But of course, we must remember we never control the market situation, which is why losses can possibly happen.