Binance Trading

We've discussed a lot so far. We now know the basics of financial markets,  what types of instruments exist, and what strategies investors and traders  use to make money. But what do you need to know if you just want to dive  in?  You'll need to know how to navigate a trading interface, choose between  different order types, and what to look out for when doing all that. Good  news, this is exactly what we explain in this chapter for you! Here we'll  discuss some of the practical aspects of getting into the world of  cryptocurrency.

Trading and Investing Strategies There's no single playbook that everyone turns to transform $10 into  $10,000. If everyone used the same strategy, nobody would have much  success. Participants in the markets range from teenagers with six screens  watching things unfold minute-by-minute to elderly investors that bought  a stock ten years ago and don't plan on checking in on it for another ten.   In this chapter, we'll talk about a wide range of trading and investment  strategies. As with technical and fundamental analysis, many choose to  mix and match their approach for the best results. But first, we'd better define what we're talking about! A trading strategy is  simply a plan you follow when executing trades. Regardless of your  approach, establishing a plan is crucial – it outlines clear goals and can  prevent you from going off course due to emotion. Typically, you'll want to  decide what you're trading, how you're going to trade it, and the points

Name : R.M.D.H.B Senevirathne Registration Number : EU/IS/2019/PHY/112 Index Number : PS 2862

  What are financial instruments?   Generally, financial  instruments refer to  things like cash,  precious metals (gold,  silver, etc.), documents  that confirm ownership  over something (e.g.,  businesses or  resources), or rights to  deliver or receive cash.   Financial instruments can be really complex, but the basic idea is that  whatever they are or whatever they represent, they can be traded.   They can be classified depending on their type. One of the classifications  is based on whether they are cash instruments or derivative  instruments. As the name would suggest, derivative instruments derive their value from something else (like a barrel of oil). Financial instruments  may also be classified as debt-based or equity-based.  But where do cryptocurrencies fall? We could think of them in multiple  ways, and they could fit into more than one category. The simplest  14  classification is that they are digital assets. However, the potential of  cryptocurrencies lies in building a

What is trading?   It's probably wise to kick  things off with a  definition of the topic  we'll be discussing. A  staple of economics,  trading simply refers to  the buying and selling of  assets. When you buy  your groceries at the  local shop, that's a trade. When you exchange your old PC for a new game  console, that's a trade. We could go on forever here. To cut a long story  short, any activity where you give something to someone in return for  something else is a trade.   This principle really extends to the financial markets. You trade financial  assets like stocks, bonds, Forex pairs, options, cryptocurrencies, etc. Don't  worry if you don't know what any of those are yet. By the end of this book,  you'll be an expert! Find  Binance