This type of trading has the same foundation: You buy an asset and sell it at your convenience. The thing about online trading is that you (as a trader) have to work to gain something from that process. A trader’s main goal is to capitalize on short-term transactions and market events.
Generally speaking, your goal is to purchase the asset when its price is low and try to sell it when its price goes higher, which might leave you with a profit. While the process can vary slightly depending on the asset you’re trading, they all have the same foundation.
Some people decide to start with fiat currencies or cryptocurrencies since they’re the most popular and common ones today. However, other people decide to go with stocks, bonds, commodities, and many others.
There are four main properties that identify every asset, which can help you determine if they’re the right fit for you. In this section, you’re going to go over each one of these properties to get a clearer idea of what you can do to choose a particular asset to start trading.
A common mistake by beginners is that they go for the asset they believe is the most popular at the moment. In most of these cases, they don’t know anything about that particular asset, leading to a number of mistakes while trading.
You should always trade an asset that you understand and feel comfortable with. If you know more about cryptocurrencies, trading that asset may be a great way to start. As you get more experienced, you may try to trade other assets, as long as you research them beforehand.
Keep in mind that it might not be a good idea to trade on many assets simultaneously since it can confuse you. If you’re starting, it might be better that you focus on one asset until you get better at it.
This may sound a bit complicated at first, but it’s also an important thing to note while choosing an asset. Before you choose it, take a closer look at its price movements; if the asset has been moving upward or downward in value recently, it might be a good option. On the other hand, if you choose an asset that hasn’t moved in value for a long time, you might not be able to do anything with it after you buy it.
Liquidity involves the rate between supply and demand for that asset. In trading, some would say that you should always look for a highly liquid asset, which means that there’s a high demand for it. If you choose an asset with higher demand, you’re probably going to find buyers at any time.
For example, if you’re trading on cryptocurrencies, Bitcoin or Ethereum may be a great choice since they’re fairly high in demand right now. However, if you go with a cryptocurrency like Tron, you might not find any good trading opportunities.
The market can turn from a normal one to a completely volatile one in a matter of seconds; this is because financial decisions taken by governments or important events in society can have an impact on the asset you’re trading.
In that sense, you should always be on the lookout for economic data that may affect a particular asset. If you’re a beginner, you may want to avoid trading on these assets since trading in a volatile market can be extremely complicated if you don’t know how it works. As you hopefully get better at trading, you may take your shot at these complex situations.
Now that you know the basics of trading, you may be wondering how The News Spy can help you. As you may have figured out by now, trading involves a lot of studying and patience; all of that process takes a huge amount of time, which can affect people with tight schedules.
In these cases, having a platform that facilitates your trades by providing a straightforward interface could really make a difference. The team at The News Spy created a platform that everyone can use regardless of their goals or the assets they want to trade, offering you various features to streamline your trading experience.
The News Spy condenses an overwhelming amount of market data and displays it in a way that anyone can understand. That way, you don’t need to spend hours looking for various resources to find a trading opportunity. Instead, you have all of the information needed right in front of you! Even if you’re already a professional, using this platform can help you to save some time by simply providing a one-stop shop.
There are other features that might make The News Spy a useful trading platform for any trader, making for a smoother and more comfortable trading experience:
If you wish to join, in order to gain access to the platform and its features, you need to open an account. The sign-up process can be done very easily, so if you want to have a glimpse of what The News Spy can do for you, this might be a good time to join. Below are the steps necessary to get your News Spy account up and running:
Next, you’ll receive a confirmation to verify your identity, and once you click on the link, you’ll be connected to your broker’s website, where you can log in using the credentials you chose upon registration, and you’ll be redirected to the platform.
Your account is ready to use, and you can explore it at your will. However, before you start live trading, you need to fund your account with a minimum amount of $250 that goes towards your first trades.
After the sign up process you’re ready to go, but make sure to start the journey slowly and responsibly. If you’ve never traded before, don’t invest too much in your first few trades, and remember that trading is a risky business. Study as much as you can, analyze the market using the platform and be sure to utilize all the features that it offers.
Do you have any more questions regarding trading or The News Spy? Make sure to read this FAQs section to find all the answers you need!
Yes, it is. You’re not charged any fees at any point in your registration or withdrawal process. Besides your initial investment (which you are free to use as you please), trading with The News Spy is completely free of charge. However, for the sake of transparency, it should be noted that it is up to your partnered broker to decide if they wish to charge a nominal fee for their services.
The answer is yes. You can trade from any device with an internet connection and browser. For example, if you want to trade while you’re outside your home, you can easily do it by accessing the platform on your phone or tablet.
This can vary depending on the trader, but a good indicator that you’re making progress is when you notice that you’re taking less time to prepare for a trading session and feel you have a better understanding of what’s happening at each one of them. Remember to be consistent. To hopefully become a better trader and make smarter choices, you need to invest some time and effort and practice as much as you can. But be careful not to risk more than you can possibly afford to lose.
What it takes to hopefully become a good trader is dedication and patience. Your improvement is not going to come overnight, so make sure that you’re consistent with your sessions and do as much research as you can to know how to act in particular situations.
IF YOU WANT TO JOIN AND GET STARTED WITH THE PLATFORM, YOU CAN OPEN AN ACCOUNT!!