₦airaland Forum

In a large country like Nigeria that can't provide anything for it's jobless youths or even monthly welfare allowances for the unemployed,one ways to earn a genuine legitimate living is through cryptocurrency trading.

Cryptocurrency trading had been one of my best and favorite ways of earning online.I got blogs and some apps that generate money for money online but I must tell you crypto trading had been the most profitable almost on a daily basis.I have been able to devise a strategy that garantee me 90% to 100% returns in profit daily for all my trades even when am in a loss,this is why crypto trading is the best of all for beginners who want to learn how to earn a living genuinely online in Nigeria.I would be diving and spilling secrets of how you too can do this for free here on nairaland.This might be my last posts on cryptocurrency trading because I believe I have done my own part of enlightenment on on this subject enough.

Fears About Cryptocurrency

Many people against crypto trading are just been ignorant and not knowing the politics that's goes behind the scenes.These people think that the crypto world would just collapse one day and all money would be gone.While this can be true for shady exchanges set but by scammers,major crypto exchanges are not going to get out of bussiness soon and that's for sure.There is a bank called xapo bank that directly accepts usdt and gives you dollars in exchange. if a licensed bank richer than the top 3 banks in Nigeria combined can carry out billions of transaction in USDT to USD trading that speak volumes that there is more to crypto than the eyes sees and it's only the smart ones that are making money from this.Some youths have up to a million USDT in their wallets in Nigeria,mind you am not talking of davido or wizkid but average rich smart dudes that knows their onions and what they are doing are making it big in cryptocurrency and it's not everyone you see glued to their laptops 24/7 is a yahoo boy.

Why Many People Fail In Cryptocurrency Trading

Some people fails, lose money during a trade they don't even understand In the first place and start complaining and saying crypto is a scam.well these people are beginners even I remember losing about 60 thousand naira on my first attempt on crypto trading this was back in 2015.So you see,my crypto journey didn't start today.

How To Avoid Losing Money In Cryptocurrency Trading

Well I would be diving into broad details on this thread and I haven't got much time this morning but I am going to give you tips to prevent you from losing your money and how u can record profits even when in a loss.The steps are listed below

1)Always use position sizing
2)use stop loss and take profits orders
3)use indicators to enter trades
4)start with a lower leverage e.g 10x but expert like us always use 100x and I have always hit the jackpot with it na my yahoo be dat
5)use 4G and get your 2 simcard loaded with data because e get why


I would be explaining details on these listed steps later in the day, if interested,you can comment and I will go in details.

1) Position Sizing

Position sizing involves the rightful calculation and allocation of your trades to ensure profits in even a bad market scenerio.that means for example if you entered into 6 trades but lost 4 out of it you can be in overall profit and grow your account this will prevent liquidation and steady profits on the long .I would be going into details regarding position sizing and breaking it down into concepts.

Position sizing involves risking a fixed amount of your money for a fixed and calculated profit.while this is done accurately over time it helps build your portfolio over time and generate profits for you.why it works is that the crypto market isn't fixed and the charts are going ain a predicted manner so when you use position size it's because it's a proven mathematical model that have been profitable over the years and it's a basic fundamental law just as you have the law of motion.

Setting Up Your Position Size

Let's say you are starting with a capital of 10 dollars.on bybit you can start with the lowest position of Ethereum e.g 0.01 which is about 0.40 USD that's if you are using the highest leverage of 100X which I use and that would be your position size one.now what you need to do is to consecutively increase your size.with 10 USD u can have 5 to six positions but as a beginner trader your suppose to have at least enough funds to open 10 positions.you can start with 10 USD but it's recommended to start with at least 100USD

Crypto trading has garnered significant attention as a potential way to generate substantial returns, but it's essential to understand the realities and risks involved. Here's the truth about crypto trading and some strategies that can help you succeed:

### The Truth About Crypto Trading

1. **High Volatility**:
- Cryptocurrencies are highly volatile. Prices can swing dramatically within a short period, leading to both significant gains and substantial losses.

2. **Market Unpredictability**:
- The crypto market is relatively new and can be influenced by various factors, including regulatory news, technological developments, and market sentiment. This makes it difficult to predict market movements consistently.

3. **Risk Management**:
- Successful crypto trading requires effective risk management. This includes setting stop-loss orders, diversifying your portfolio, and not investing more than you can afford to lose.

4. **Time and Effort**:
- Crypto trading is not a get-rich-quick scheme. It requires time, effort, and continuous learning. Staying updated with market trends, news, and technical analysis is crucial.

### How to Potentially Get Rich in Dollars from Crypto Trading

1. **Education and Research**:
- Invest time in learning about cryptocurrencies, blockchain technology, and trading strategies. Platforms like [Fokawa](https://fokawa.com) offer valuable resources and a secure environment for trading.

2. **Start Small**:
- Begin with a small investment to get a feel for the market. As you gain experience and confidence, you can gradually increase your investment.

3. **Diversify Your Portfolio**:
- Don’t put all your eggs in one basket. Diversify your investments across different cryptocurrencies to spread risk.

4. **Use Reliable Platforms**:
- Use trustworthy and secure platforms for trading. [Fokawa](https://fokawa.com) offers a robust trading environment with high liquidity and advanced security features.

5. **Develop a Trading Strategy**:
- Create and stick to a trading strategy. This could include day trading, swing trading, or long-term holding. Use technical and fundamental analysis to inform your decisions.

6. **Stay Informed**:
- Keep up with the latest news and trends in the crypto market. Follow reputable sources and be aware of any regulatory changes or technological advancements.

7. **Automate Trading**:
- Consider using crypto trading bots to automate your trading strategies. Bots can execute trades faster and more efficiently than humans, helping to maximize profits.

8. **Manage Emotions**:
- Avoid making impulsive decisions based on emotions. Fear and greed can lead to poor trading choices. Stick to your strategy and remain disciplined.

### Conclusion

While crypto trading offers the potential for high returns, it is also fraught with risks. Success requires education, strategy, discipline, and effective risk management. By starting small, staying informed, and using reliable platforms like Fokawa https://fokawa.com , you can navigate the complexities of the crypto market and potentially achieve financial gains. Remember, patience and continuous learning are key to long-term success in crypto trading.

imranforu:
Crypto trading has garnered significant attention as a potential way to generate substantial returns, but it's essential to understand the realities and risks involved. Here's the truth about crypto trading and some strategies that can help you succeed:

### The Truth About Crypto Trading

1. **High Volatility**:
- Cryptocurrencies are highly volatile. Prices can swing dramatically within a short period, leading to both significant gains and substantial losses.

2. **Market Unpredictability**:
- The crypto market is relatively new and can be influenced by various factors, including regulatory news, technological developments, and market sentiment. This makes it difficult to predict market movements consistently.

3. **Risk Management**:
- Successful crypto trading requires effective risk management. This includes setting stop-loss orders, diversifying your portfolio, and not investing more than you can afford to lose.

4. **Time and Effort**:
- Crypto trading is not a get-rich-quick scheme. It requires time, effort, and continuous learning. Staying updated with market trends, news, and technical analysis is crucial.

### How to Potentially Get Rich in Dollars from Crypto Trading

1. **Education and Research**:
- Invest time in learning about cryptocurrencies, blockchain technology, and trading strategies. Platforms like [Fokawa](https://fokawa.com) offer valuable resources and a secure environment for trading.

2. **Start Small**:
- Begin with a small investment to get a feel for the market. As you gain experience and confidence, you can gradually increase your investment.

3. **Diversify Your Portfolio**:
- Don’t put all your eggs in one basket. Diversify your investments across different cryptocurrencies to spread risk.

4. **Use Reliable Platforms**:
- Use trustworthy and secure platforms for trading. [Fokawa](https://fokawa.com) offers a robust trading environment with high liquidity and advanced security features.

5. **Develop a Trading Strategy**:
- Create and stick to a trading strategy. This could include day trading, swing trading, or long-term holding. Use technical and fundamental analysis to inform your decisions.

6. **Stay Informed**:
- Keep up with the latest news and trends in the crypto market. Follow reputable sources and be aware of any regulatory changes or technological advancements.

7. **Automate Trading**:
- Consider using crypto trading bots to automate your trading strategies. Bots can execute trades faster and more efficiently than humans, helping to maximize profits.

8. **Manage Emotions**:
- Avoid making impulsive decisions based on emotions. Fear and greed can lead to poor trading choices. Stick to your strategy and remain disciplined.

### Conclusion

While crypto trading offers the potential for high returns, it is also fraught with risks. Success requires education, strategy, discipline, and effective risk management. By starting small, staying informed, and using reliable platforms like Fokawa https://fokawa.com , you can navigate the complexities of the crypto market and potentially achieve financial gains. Remember, patience and continuous learning are key to long-term success in crypto trading.

Thanks!!!Yep u have completed everything.i was kinda lazy in completing the thread due to its length but u summarized it.my own is that moment after trading I finally sell my proceeds for cash such a nice feeling