With its significant growth, the digital currency market has made a positive impact on people in the society. So that today you will hardly find anyone who does not know anything about digital currencies or is not engaged in trading. Digital currencies have given the dream of getting rich and earning quick money to most people in the society, and they are also engaged in buying and selling digital currencies in addition to their main job. People enter the digital currency market with this dream, and because they haven’t seen trading in digital currencies, they quickly run into problems and lose their assets. Therefore, in this article, we intend to  teach digital currency trading  so that you suffer less losses in this market.

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What is digital currency?

Before starting the digital currency trading training course, it is better to know what digital currency is? Digital currency is said to be those assets that are not physical in nature, but have a much higher value than some expensive goods. Digital currencies are divided into 3 categories: meme coin, altcoin and shetcoin, all of which you can buy from exchanges. For example, Shiba is a cryptocurrency that many people are engaged in buying and selling this digital asset. Binance exchange is one of the best digital currency exchanges from which you can buy digital currencies. Passing the exchange training course is one of the things that every trader should do before buying and selling digital currency. With the Binance exchange training article, you can easily start trading digital currencies in this famous exchange.

What is digital currency trading?

In the second part of the free digital currency trading training article, we intend to introduce you to the concept of digital currency trading. Basically, buying and selling digital currencies in the market and exchanges is called trading. The goal of people doing this is to earn money and increase their assets in different ranges. The number and extent of digital currencies are large, and traders are engaged in buying and selling cryptocurrencies based on their interests and analysis. In general, trading means buying and selling digital currencies repeatedly and consecutively.

Who is a trader?

As a reader of trading in digital currency, you must know who is called a trader. A trader is a person who enters the market with the aim of making a profit from digital currencies and buying and selling them. These people buy and sell cryptocurrencies by studying digital currencies and viewing their price charts in different intervals. Trader must have a series of characteristics and adhere to them and do them to be successful in this market. These features include the following.

1. Ability to quickly understand and analyze content
2. Ability to take risks
3. Be patient and wise
4. The ability to guess the status of digital currencies from their price chart
5. Be active and not just an observer
6. Guess the time of entry and exit from the market
7. Getting to know how digital currency fluctuates

The best digital currencies for investment

Identifying the best digital currencies for investment is another part of learning to trade in digital currency. The digital currencies listed in the following table for you in the free digital currency trade training article are among the best digital currencies for investment. You can buy all these digital currencies from Nobitex exchange with Rials and then transfer them to Binance exchange. To transfer your assets between two exchanges, you can read the article on how to transfer currency from Nobitex to Binance.

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Market analysis methods

The digital currency market is one of the most volatile financial markets. Therefore, traders should be familiar with the analytical methods of this market so that they can predict and analyze this market. Correct analysis of the market will make your investment or trading bear good fruit and multiply your income. Fundamental analysis and technical analysis are two methods of digital currency market analysis that traders can easily earn from this market by using these two. Note that both methods can be used for market analysis or that one of these two methods can be used for market analysis.

Digital currency technical analysis

Traders start buying and selling digital assets with the help of patterns and indicators that they understand from the charts of digital currencies. In order to be able to use this analysis, you must have good experience in the market and, most importantly, have the ability to analyze the market from charts. Traders who use this analysis sample use different indicators. To use this method and learn more about it, read the technical analysis training article.

Fundamental analysis

Traders can buy or sell digital assets using news that is published about digital assets. This example of news leads to the change of some digital assets such as Bitcoins. For example, not long ago, Elon Musk changed the Twitter logo to the Dogecoin logo, increasing the price of this digital asset. Therefore, following the news related to digital currencies can be considered as one of the ways of analyzing the market. To learn about fundamental analysis, you can read its article.

What is the difference between trading and investing?

Most people who enter the financial markets are not familiar with the meaning of trading and investing and usually use these two interchangeably. The main purpose of investing is to exploit or hoard some of an asset to get more profit and capital; But in trading it is exactly the opposite. In trading, people look for small profits in a short period of time and have a more active fence in the market. Investment is less risky, therefore it guarantees more profit and capital growth; But in trading, the transaction risk is high. Investors buy shares or part of an asset; But in trading, people are regularly buying and selling digital assets.

The goal of investing is high profit over a long period of time; But the goal of trading is to make a large or small profit in a short period of time. In general, there are many differences between trading and investing that should not be confused with each other.

Digital currency trading training

The digital currency trading training course is one of the courses that you must take before buying and selling cryptocurrencies. Because ignoring it does not bring good consequences for traders and most of the time leads to the loss of their capital. As familiarity with currency pairs, it helps a lot to people in the field of buying and selling digital currencies, because their wrong choice is one of the biggest mistakes of traders. When you plan to trade two different currencies, you must use pairs of currencies in such a way that the first currency is the base currency and the second currency is the pricing currency. The best digital currency trading methods are:

Scalping trading

One of the methods that is a part of learning to trade digital currencies is instant buying and selling or scalp trading. This type of trading is usually found in the spot trading section of digital currency exchanges, where traders can buy and sell digital currencies instantly. Making profit in this type of trading is good, because the trader buys some digital currency at a low price and sells it at a higher price in the next fifteen minutes.

Day Trading

Daily buying and selling is another method that we have brought to you in the digital currency trading training article. Some traders buy cryptocurrencies daily and sell them at the end of the day. These people do this based on their analysis of the digital currency in question and sell it at the end of the day with the hope of making a small profit.

Swing Trading

Unlike the other two categories, this category intends to buy digital currencies, but not to sell on the same day or instantly. Some traders have a specific schedule for selling and sell the purchased digital currency at another time. These people use the technical and fundamental analysis they do on the currency in question to conclude that this digital currency will increase in the following months or weeks. This method is one of the most popular trading methods that we have brought to you in the digital currency trading training article. Traders who use this method will earn good profits if they guess the time of entry and exit from the market correctly.

Buying and selling with positioning (Position Trading)

This part of the digital currency trading training article is suitable for people who are very interested in long-term investments. Investors buy with fundamental and technical analysis on the digital currency they want and check the status of Bitcoin. The position they consider is usually between 2 and 12 months. This method seems easy, but it requires following a series of rules.

copy trading

This method is suitable for people who are new to the digital currency market. Newbies can take a successful trader as their model and buy and sell like him and earn money. People who adopt this method should pay attention to the fact that they should not spend all their assets on buying the digital currency that the trader has made professional. Also, pay attention to the fact that that person may also have mistakes and problems.

Reverse Trading

Another trading method that leads to a lot of profit for traders is reverse trading or reverse trades. By using this strategy in financial markets, especially digital currency, you can easily increase your dollar income. For example, the digital asset has an upward trend and is still continuing this trend. In this strategy, traders predict the downward trend of this asset using technical analysis tools and patterns such as technical triangular patterns. Traders will gain a lot of profit by predicting this trend; Although they will suffer a lot of loss in case of wrong prediction. Therefore, the use of this trading strategy is suitable for those who have enough experience in digital currency trading.

Traders enter the market according to the information they get from the resistance and support levels. This strategy, along with Smart Money’s price action, can bring a lot of profit to the trader; Because losing with the Smart Money method or course is almost zero. When the price of the digital currency you want is close to the support line or levels, it gives a buy signal; Because there is a possibility of price increase. It also gives a sell signal when the digital currency price approaches the resistance levels; Because it indicates the downward trend of its price.