Excellent clarification, I thought that in both trading and investing you had to understand charts to be more successful. But if that is how you describe it, I should not be desperate to learn as I have a small investment and have been with it for some time.
But even you understand charts use a demo account is always required when trading so you make your chart predictions in demo account and if you find that you are earning you copy trade details in real account. This is strategy that few one are using.
When you refer to demo account and real account, I have to say that first time I read something about this. Where do I find the site to do it and should I have experience to delve into the site? Your post has caught my attention and I look forward to researching more about it.
I have not traded cryptocurrencies, but I would like to learn and try to do it, I confess that I thought that investing and trading were the same, until today that I notice the differences. I hope to learn more on this topic!
Each broker like xmarabia or instaforex or exness or etoro or whatever broker offers demo account and real account. Real account is account where you top up with funds to make trades and then cashout your earning to your real account. Demo account is demo money however money earned cannot be withdrawan as you get gift money to try trading not more and not less than that. You have to keep demo account always to make trials and real account to place orders that you see that generates profit so if you see an order is losing you will not make the same trade detail. Most trader fault is they close demo account after getting experience and they are fully risky.
I have read a lot of news and information from websites, as here in the forum that also clarify my doubts, the good thing is that I have invested, plus the little I have operated I have done well. But it is good to keep in mind these differences.
Excellent example @Grandeur, and I understand that seeing the graphs and analyzing them, we will know if it is convenient to invest or operate with a particular cryptocurrency.
I love when I have doubts and you are there to clarify them, you explain very well and in detail, nothing to add I understood perfectly. Once I read something related to forex and those accounts, but I did not give it more importance.
If you intend to go for long term holdl , you do not need to understand the chart perfectly well before you can buy . It is only important for short term traders.
True, I actually invested without knowing much about it, and then I started to analyze and try to understand this gigantic world of cryptocurrency. However, I have evaluated to learn more to feed my knowledge, as you say, to reach the maximum result.
Good suggestion @Josemendez , but I am already curious and although I am with long term investment, I would like to learn more from the charts and maybe trade short term, with the knowledge.
Well , short term trading is profitable but comes with it's risks. Nevertheless as part of being knowledgeable in cryptocurrency , you should learn how to use charts.
Very good, yesterday I was analyzing today I will spend more time to better understand its functionality. This way if the time comes when I need it, I will know how to operate in the short term and guide me with the graphics. I hope to clarify any doubts that may arise.
