When the price of Bitcoin rose from $ 1,000 to more than $ 19,000 in 2017, Ethereum’s performance during that time was far more astonishing. The second best digital currency on the market started in 2017 with a price of $ 7 and reached more than $ 750 by the end of that year. Ethereum grew by more than 10,000 percent while Bitcoin grew by about 1,500 percent during that time. Ethereum is currently the second largest digital currency with a market value of more than $ 40 billion.
In the following, we will accompany you by teaching you tips that, although simple, play an important role in your success in trading. You can also participate in the Digital Currency Atlas course to receive comprehensive digital currency training.
What is Ethereum in a nutshell?
Before buying and selling ether, you should pay attention to the difference between ether and Ethereum. Ethereum is a decentralized network and currency ether used in this network for payment. So in fact you are not trading Ethereum and it is ether that you buy or sell. Ether is not just a digital currency and can be used for decentralized services and applications launched on the Ethereum platform. To get more information about Ethereum and comprehensive training in digital currencies, you can prepare the Atlas Digital Currency Plus training package and master the knowledge of technical and fundamental analysis in less time than the self-study method.
risk management; Forgotten keyword
While Ethereum innovations envision a bright future for the network, the sharp volatility of digital currencies is one of the key features that every trader should consider and consider risk management in their strategy.
To do this, you need to start with a small investment and increase your investment as you gain more experience. Using leverage and margin trading at the beginning of the trading path can cause you a lot of trouble and even cause you to lose all your capital. Never forget to set a loss limit in your trades and use this efficient tool for risk management. If you are interested in learning risk management and entering into trades based on the reward-to-risk ratio, you can get enough information about it by participating in the Atlas Digital Value Plus course by practicing and strengthening this skill.
Use technical analysis
Technical analysis is the most important component of trading. When it comes to day-to-day trading in vibrant markets such as digital currencies, technical analysis becomes almost the only key tool in your market success. That’s why learning technical analysis and strengthening your skills in chart reading, finding trends, and finding patterns are some of the basics you need to go through. For this purpose, comprehensive training of digital currencies and technical analysis in the Atlas Digital Currency Plus package has been designed and prepared so that the learner has the ability to enter the market and earn real profit after completing the course.
Do not forget the fundamental analysis
Currency ether is the unit of the network created by the geniuses of the Blockchain world. The value of ether is a function of the network’s success in attracting decentralized applications and more users, the activities of the development teams working on it, and the demand for using the network.
Therefore, paying attention to the fundamental factors in this market can give you a much better view of the value of a digital currency in the future. Following Ethereum on social media, reviewing the development of the Blockchain, and projects working on the Ethereum platform are some of the things you need to know about the underlying status of Ethereum. To learn how to fundamentally analyze digital currencies and to get acquainted with the necessary tools for doing so, you can learn fundamental analysis by watching the videos of the Digital Currency Atlas course.
Control your emotions while trading
In any volatile market, the first enemy of any trader is his emotions in trading. In addition to strengthening their skills, traders need to be aware of the emotional aspect of their personality and to avoid emotional decisions, determine their trading strategy and approach to various possibilities.
If any trader allows his emotions, whether it is excitement, anger, depression, or greed, to influence his decisions, then he can not expect much from himself except for a number of successful trades. To practice controlling your emotions, you need to be proficient in demo accounts and paper trades before entering the real market and trading with real capital, to determine your purpose and loss before the trade and, more importantly, to stick to it.