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USDJPY VIP TRADE SETUP IDEA 18TH-NOV-2020 (FXKLEX)

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USDJPY VIP TRADE SETUP IDEA 18TH-NOV-2020 (FXKLEX)
USDJPY VIP TRADE SETUP IDEA 18TH-NOV-2020 (FXKLEX)

I shared this trading idea with FXKLEX VIP members. Watch the full video to see how we found the setups.

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Why You Should Take Cryptocurrency Investment Serious NOW

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why you should take cryptocurrency investment serious now
why you should take cryptocurrency investment serious now

We’re currently living in the most amazing time as humans. Technologies keep evolving from all angles, and it seems these amazing technologies aren’t done with us yet. One of such booms of the breath-taking technologies is cryptocurrency. Cryptocurrency is a decentralized digital asset designed to work as a medium of exchange.

Why You Should Take Cryptocurrency Investment Serious NOW

Cryptocurrency employs the use of decentralized control, unlike the central banking systems. Since its inception, these currencies have been widely adopted by many people in the world, and this number keeps growing day by day. However, pockets of people are still skeptical about investing in these currencies.

In this article, we’ll discuss some of the reasons why you should take cryptocurrency investment seriously now more than ever. Ready to learn more about these whys? Kindly read on!

Potential

Since its inception, many big names in the financial market have criticized cryptocurrencies for being nothing but speculations. But in the real sense, these currencies have all the potentials in the world that could change anyone’s life overnight. In fact, it’s transformed peoples’ lives from being an average earner to millionaires.

Despite the fluctuations in the market, investors are still taking risks due to its potential every day. The wide adoption of these currencies makes it a potential business for anyone who wants financial security. To the curious minds, the potentials of cryptocurrencies are yet to be tapped completely, and investing in them is the wisest thing to do now.

Volatility

Volatility is one of the major characteristics why you should take cryptocurrency investment serious now. The market cap can go very high within a few hours and decline in a day or two after that. But looking at the record highs achieved in the past years, you’d agree with any seasoned investors that investing in these currencies now should be prioritized.

Though the currencies can drop billions of dollars in the market cap, but with patience and good crypto-education, you’ll recover every penny you’ve lost into this ever-dynamic market.

Security

Another impressive reason why you should take cryptocurrency investment serious now is its significant liability. Unlike the centralized banking system where some high-ends people control how you transact and check the details without your consent, these cryptocurrencies have come to solve this challenge.

Cryptocurrency offers users a considerable level of security, which is very hard to override. This makes it compelling to a lot of people. Just like the internet took over the world in the 1990s, cryptocurrencies are upon us now, and many researchers and seasoned investors say that it’s here to stay. This means if you’re considering investing in crypto coins but still haven’t decided yet, there’s no better time than now.

Instant settlement

The instant settlement is another reason why you should take cryptocurrency investment serious now. With blockchain, it’s quite simple to use, and the more reasons why many people have now adopted its usage as a means of exchange. Once you’ve got a connected device, you become your bank by transferring money and making payments. It eliminates the third-party in its system.

Identity theft

Blockchain is designed such that it prevents any possible identity theft from scammers lurking around. With this ledger, all transactions are calculated to ensure accurate balance. These transactions are also checked carefully to ensure the coins are actually owned by the spender.

It’s impossible to hack through this as it secures the digital transactions through encryption coupled with smart contracts.

Liquidity

Just like any asset, cryptocurrency boosts of high-liquidity, which means it’s easier to buy and sell at a price closer to the market rate. When needed, it’s easier to buy coupled with ease of sales. Blockchain uses a wide variety of tactics and tools to implement all these without hassles.

Favourable forecasts

As a beginner who’s just coming into trading in cryptocurrency, you may go crazy with the volatile nature of cryptocurrency. The prices are always fluctuating, but with its favorable forecasts, you can be sure of a successful outing if you take your time out to forecast. This makes cryptocurrency one of the best investments you can venture into now.

Presently, there are still misconceptions about cryptocurrencies, so much so that many think it’s not the best to invest in any crypto coin now, but the truth is, investing in cryptocurrency is one of the best decisions you can ever make in this century. There are a ton of people who’re living testimonies of this great financial investment.

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READ ALSO: Which Cryptocurrency Will Explode?

Which Is The Best Forex Broker In Nigeria?

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Which Is The Best Forex Broker In Nigeria?

If you’re new forex trader who’s interested in trading the forex market in Nigeria, the first question on your mind would be which is the best forex broker in Nigeria?

In order to save yourself from unnecessary headaches, you need choose the best forex broker to help with your trading. A trusted broker will assist you greatly as a beginner to navigate through this currency market without hassles.

More so, Nigeria is a country reeks of all kinds of people; there are excellent brokers who are always ready to assist in your quest for financial security. However, there’s also the presence of some unscrupulous brokers pretending to be real forex brokers as well. This means you’ve got to opt for the most regulated brokers, such as HotForex and other big guns in this industry.

In this post, we’ll be discussing one of the most trusted forex brokers in Nigeria presently, HotForex, and reasons why many Nigerian traders have absolute trust in this broker. Let’s dive right in!

HotForex Best forex broker in Nigeria

If you’re looking for the best forex broker in Nigeria, HotForex is a cut above others. It’s the most reliable broker in Nigeria, and you sure can’t be wrong with this forex broker.

Which Is The Best Forex Broker In Nigeria?
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The trading platform of HotForex is quite simple for any newbie coming to this financial market. This makes trading easier without going through the rigorous stress of navigating through some complicated and confusing content.

Which Is The Best Forex Broker In Nigeria?
Get 100% bonus

Here are some of the reasons why HotForex is the most trusted forex broker in Nigeria. Ready to dig in? Kindly keep reading!

Strict Regulations

There’s no denying that many other forex brokers have some bodies regulating how trading is carried out, but HotForex has many bodies that handle this job. These ensure your trading funds are kept safe without any interference whatsoever.

As a new trader in the financial market, it’s absolutely normal to be apprehensive. This means the fear of entry is reduced to the barest minimum with a highly regulated broker such as this.

Trading With Instruments

Many seasoned traders in Nigeria chose HotForex because it gives them that liberty to trade with cryptocurrencies, shares, bonds, indices, and forex. This isn’t obtainable in all forex brokers in Nigeria.

If you choose HotForex as your broker, you’ll trade on one of the renowned and well-customized trading platforms. These trading platforms (MetaTrader 4 and 5) have unique and amazing features that enhance your trading experience on HotForex.

This platform isn’t restricted to the existing traders alone; as a beginner, you can as well use this platform with your Android or iPhone mobile devices.

Trainings

The importance of possessing the requisite knowledge of forex can’t be stressed enough. If you’re a beginner trader in Nigeria who wants to trade the forex market, HotForex is your best plug.

HotForex Nigeria prioritize knowledge as it’s one of their major cardinal points. They provide the education tools you’d find helpful in your quest for financial security, tools such as trading courses, video tutorials and forex education, etc.

Ease of Trading

Here’s another thing that makes HotForex a big deal among the forex traders in Nigeria. When depositing your funds into the account, there are a ton of methods provided by the platform to ease this operation; the same goes for withdrawing funds as well.

With a few clicks, you’re done with these processes. It doesn’t take forever to get this done at all, and HotForex won’t deduct any service fee from your account.

Support

As a beginner in forex trading in Nigeria, it’s only normal to be apprehensive of the forex broker you want to use due to the lack of experience in trading the exchange market.

However, HotForex Nigeria removes the fear of costly mistakes for any newbie. If you run into any challenges, the amazing broker’s customer support is always there to assist you.

If you have anything to relay to this forex broker, reach out to them via the instant chat section on their website or through telephone.

Which Is The Best Forex Broker In Nigeria?
Get 100% bonus

The points mentioned above are just the tip of an iceberg. HotForex is one of the present days’ brokers that provide the lowest spread of about 0.3 pips.

Without an iota of doubt, HotForex is the best forex broker in Nigeria at present. It’s an award-winning broker, which assists both beginner and seasoned traders in their quest for financial security.

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READ MORE: HotForex- Fxklex’s Broker Choice

Best Forex Broker in West Africa

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It’s not uncommon nowadays to see tons of African forex traders looking for the best forex broker in Africa, West Africa to be precise. This is because foreign exchange over the years has gained popularity and has gone on to be one of the most active financial markets in the region.

HotForex the best forex broker in west Africa and some of the big names are excellent based on traders’ reviews in the last couple of years. Hence, to make your journey into forex trading easier and rewarding

We’ve put up this guide that discusses what a forex broker is, things to consider when opting for a broker, and the best and reliable broker in Africa presently.

Who is a Forex Broker?

A forex broker is a firm that functions as an intermediary between the buyers and sellers of foreign exchange. Forex brokers maintain the forex exchange market place and assists in ensuring liquidity in the market.

As the financial market grows, more and more  brokers in the market are trying to gain from matching buyers and sellers up for an exchange.

As a beginner trader who’s just coming into this market, there’s no cut corner about this; you can only trade in the forex market with a broker’s help. It’s become increasingly difficult for the newbies to know which broker to choose as there are a ton of them available now.

However, consider these factors mentioned below before choosing a broker, and you’d be fine trading in the market.

Factors to Consider Before Choosing a Forex Broker

There are pockets of things you must consider as a beginner before you choose a broker for your trading; here are a few of them!

Registered Broker

First up, checking to see if the broker you’re interested in is registered is one of the vital things to consider. You don’t want to fall into the hands of cyber scams who’re always looking for loopholes to take your hard-earned money away. Check if the company is registered with relevant authorities.

You also want to take it a step further by checking the broker’s history, is the forex broker reliable, credible and worthy of working with?

See what people are saying on forums as regards their service. That way, you can easily make an informed decision about using them or not.

Affordable Spreads

Another important thing you must know about your intending broker is their spread.

Spreads are commissions placed on the traders’ accounts for trading on their platforms. You’re not paying the broker any money except through spread. However, the spreads must be reasonable.

There are tons of brokers who charge as high as 10pips; avoid these types of brokers. Look for lesser ones; spreads of 1-2 pips should be the target as a beginner. Reliable forex brokers in Africa, such as HotForex, charge around this range.

Simple Trading Platform

One of the beginners’ mistakes in the forex market is choosing a broker with a complex trading platform. This makes them spend hours before they could trade. No, you don’t have to go through this if you pay attention to details beforehand.

Ensure you choose a broker who has a simple trading platform; this will make your trading activities easier, quicker and neater.

Demo Trading

As a smart newbie coming into this dynamic and tasking financial market, ensure you practice and practice before jumping right into it. Doing that isn’t a smart way of trading in the forex market.

Hence, it would help if you choose a forex broker that offers demo-trading and a broker who provides enough funds needed to practice.

Best Forex Broker in West Africa
Get 100% welcome bonus

Many brokers nowadays encourage demo trading for beginners by offering this feature on their platforms, but many don’t provide the required funds to do this effectively. Ensure you watch out for that, and go for the ones that tick these boxes.

Trading Products

Are you looking for the best broker as an African trader? Well, ensure you choose a broker with various trading products.This is crucial to ensure stability where there’s instability in one currency pair.

But in a case where a broker doesn’t offer this, it becomes a problem to trade during this time.

HotForex: Best Forex Broker in West Africa

If you’re looking for the most reliable and the best forex broker in West Africa, no other brokers tick all the boxes like HotForex. It’s a renowned broker globally with hundreds of thousands of registered traders.

Best Forex Broker in West Africa

This broker was founded in the year 2010 and since gone on to establish itself as one of the best brokers in the world today.

In Africa today, HotForex is the most honest forex brokerage firm as it operates an openness and transparent accounts for African forex traders in the financial market”.

HotForex is an integral part of an insurance and funding programme that assists eligible traders if there’s an error, negligence or omission. As a smart trader in Africa, you sure want to use a best broker such as this.

Best Forex Broker in West Africa
Get 100% welcome bonus

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WATCH HOTFOREX ACCOUNT CREATION & VERIFICATION GUIDE VIDEO BELOW 👇

5 Mistakes You Should Watch Out For As a New Forex Trader

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Common 5 mistakes of new forex traders
Common 5 mistakes of new forex traders

It’s essential you know the common 5 mistakes of new forex traders before you start trading the forex market. Forex trading can be likened to any trade; starting it comes with tons of challenges you have to contend with as a newbie.

To an average beginner in this trading world, forex trading may seem easy, but the truth is, it’s not as easy as you may think.

It’s a market with lots of ups and downs, depending on which side of the coin you find yourself. So the uncertainties are normal as it’s an entirely new market. Your best bet is to prepare for these challenges beforehand.

5 mistakes of most new traders
5 mistakes of every new forex trader

Below are the listed 5 mistakes of new forex traders you should watch out for to be successful. Kindly read on to find out!

Absence of a trading plan

It’s said that “he who fails to plan is certainly planning to fail.” This is true when you consider a forex trader who hops on this dynamic financial market without a trading plan. Counter-intuitive? Yes, that’s right!

Have a plan

The mere expectation of a positive result isn’t going to yield anything sustainable if you neglect the necessary things to do as a beginner in forex trading. It’s an environment that defies logic, so it’s crucial you plan ahead of time, which should include how to start off the trading and how and when to leave the trade.

Lofty Expectations

There’s absolutely nothing wrong with wishing for something great and positive to happen in your life. But then, being realistic with oneself is a crucial step to having peace of mind. The same goes with forex trading, every newbie always has unrealistic expectations when it comes to their trading results, and this is a very big mistake.

5 mistakes of most new traders
No easy route to profits

Try to make up your mind that you’re in to learn, then make money. This way, you tend to be patient with the process, unlike those who think forex trading is a get-rich-quick money scheme. You’ll also have to follow the footsteps of the successful traders as well.

Instead of romancing some unrealistic expectations, you should get to work, learn the nitty-gritty of the market, this plus a great personality trait will set you up for the success you long for in this fantastic market. That’s how successful traders today start off as beginners. Without hard work, meaningful success won’t materialize.

Revenge trading

You don’t need to get emotional with a lost trade as it’s inevitable in forex trading. Sometimes you win; other times, you lose. It’s been the rule of the trade since its inception. Hence, you don’t need to practice revenge trading when you lose.

The best thing you should do when you lose is to analyze things properly and make amends where you went wrong. This way, you’d save yourself from unnecessary loss you may further encounter when you do revenge trading.

As a beginner, always be ready to accept any loss. You’d grow from such a sour experience when you keep your head down and learn from that unpleasant outing. This teaches you how to trade better and smarter in the future.

Failure to keep records

To be successful in any business, you should and always prioritize record-keeping. It helps to know the status of the business at any given point in time. The same goes for forex trading, as it’s no different from any other business in keeping records.

Always keep records

A new forex trader must always keep records of his trading. This way, you can easily know what your profits are and when the going gets tough, you can see the number of bucks you’ve lost. This helps in making informed decisions subsequently.

Having these records can go a long way in your success as a beginner in forex trading. Don’t ever take this document slightly. Though it’s not some sexy thing to do, you’d be glad if you did later on.

Paying little or no attention to exits

Generally, as a beginner, you tend to spend a lot of time on trade entries while not bothering on trade exits. This isn’t right, as having proper exit packages in place will go a long way in preventing unnecessary losses.

Yes, it’s challenging to set up a proper and effective exit strategy. Ensure you do your due diligence as a newbie in forex trading when setting your stop. Don’t fall into the trap of being at six and seven when exiting a forex trade.

To avoid being in a perpetual state of doubt, ensure your emotions don’t take the best side of you. The rule of thumb is, test as many set-ups as possible, then opt for the one that shows amazing results.


Forex trading is one of the worthwhile businesses you can venture into as a 21st-century person. However, there are a ton of possible mistakes pockets usually fall into due to the volatile nature of the market. To avoid these common 5 mistakes of new forex traders, you need to ensure proper research before you commence, plan well and go in for it with a strong mind.

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READ ALSO : 5 Mistakes You Should Watch Out For As a New Crypto Trader

Exit And Entry Strategies in The Financial Market

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Exit And Entry Strategies
Exit And Entry Strategies

In this trading course, I will educate you about simple and effective entry and exit strategies when trading the financial market.

As a trader, you need to ensure a well-defined level to execute a position in the market and at what level would be best to exit such a position either in profit or loss. Successful traders are those who trade according to a set of rules or plans, while unsuccessful traders are those who trade based on emotional interest.

Exit And Entry Strategies
Exit And Entry Strategies

Before building effective entry and Exit strategies, we need to decide which time frame is suitable for our personality. There are four types of technical traders in the market, and they are:

  1. Scalpers: Trades from 1 minute to 1-hour chart.
  2. Day traders: Trades from 1 hour to 4 hours in the direction of the daily chart frame.
  3. Swing traders: Trades from 4 hours to daily chart in the direction of the weekly chart frame.
  4. Position traders: Trades from Day chart to weekly chart in the direction of the monthly chart frame.

The type of trader you chose to become would greatly influence when building or making decisions about your entry and exit strategies in the market.

I’m a day and swing trader. I’m confident enough to let you know the entry and exit strategies I will show you that this course would be effective for any of the four trading methodologies listed above, provided you follow the rules.

TAKE NOTE: No trading system is 100% infallible to the market; healthy money management is the foundation for successful trading. Therefore see the market as always right whenever things go as not planned.

Professional traders think first about exit before planning about entry, while novice or public traders focus on entry as the primary focus. Money is emotional and thinking about profit without the risk involved is one of the major killers of 90% of traders who fail to trade the market.

POINT 1: Define the risk level

There are various ways to define our risk, and they are listed as follows:

  1. Implementation of Risk Reward Ratio ( RRR)
  2. Implementation of Key-levels ( Support & Resistance )
  3. Implementation Signal Bar Structural formation ( Engulfing bars, Pin bars e.t.c )
  4. Implementation of Benchmark level ( Fibonacci )
  5. Implementation of chart patterns boundary definitions ( head and shoulders, double tops, e.t.c )
  6. Implementation of the wave of trends ( Swings highs & Swing lows )

To properly utilize this above-listed risk definition guidance, you have to consider the size of your account. I advise beginners not to risk more than 0.5% to 1% on each trade and not to execute more than three total trade positions.

TAKE NOTE: Do not set your exit target level based on your pain level but apply based on technically reasonable levels to the structures or formations of the market. The market does not care; neither does it hate you!

  1. Define The Risk-Reward Ratio ( RRR)

R is coefficient is 1, which means for every 1 point you are willing to risk, you look forward to gaining 2 points.

  • Excellent risk-reward ratio: 3R and above
  • Good risk-reward ratio: 2R
  • Fair risk-reward ratio: 1R
  • Bad risk-reward ratio: 1/2R
  • Worse risk-reward ratio: 1/3R and less
  • Too good to work out risk-reward ratio: 6R and above ( this depends on your trading time frame)

Below is an image to give more understanding about defining exit and entry Strategies based on risk-reward ratio.

Exit And Entry Strategies
Ensure reasonable risk reward ratios

As you can see in the image above, the distance of the bearish pin-bar nose to the resistance point R is 25 pips and the distance from the nose to the support point S is 225 pips. There was enough room for sellers acting based on the bearish pin-bar for a higher possibility of a bearish rally.

This means the total length of the bearish pin bar, which was the technical sell signal, measures 30 pips + 25 pips, which equals 55 pips. Below is the breakdown of the risk-reward ratio analysis.

As a trader placing your stop loss at the bearish pin bar’s tail signifies you are willing to risk R = 55 pips, which means if the trade should go against R’s coefficient, then it’s the right time to exit such trade.

Remember, the distance from the resistance to the support level measures 250 pips. This means there’s enough room for the sell set up to run into profit before getting to support level.

In this kind of trade, a trader can utilize the 2R, 3R, 4R and 5R to take profit target since 55 pips can be derived almost five times in 250 pips. This is also applicable in a bullish setup.

 For every 1 point to risk, you are willing to gain the R’s multiple value numbers.

This is an example 1 of an entry and exit strategy when trading the financial market.

POINT 2: Define The Key-levels ( Support & Resistance )

Support and resistance level are the technical foundation of trading. Trading without the proper understanding of key-levels is like driving a car and having your eyes closed; you know the result of such a journey.

Please don’t get confused when you hear the words demand and supply; it also means support and resistance. I remembered when I was new to trading; this got me confused.

Demand means a level where many market participants wish to buy, and that’s from support, while supply means a level of interest for more market participants to sell, and that’s from resistance.

Whenever support is broken, it turns into a new resistance, and whenever resistance is broken, it turns into new support. Below is an image to understand support and resistance levels in relation to price movement on the trading chart.

Key-levels means Support & Resistance levels

You can see how prices always obey these key-levels at point R, S, and these are the levels or zones you should apply your entry and exit level whenever you wish to execute a position in the market.

Avoid application of exit at your pain level, and this is why many inexperienced traders stop loss from being hit most of the time in the market.

Below is an image displaying how to properly define exit and entry Strategies in relation to key-levels in the market.

Exit And Entry Strategies
Always ensure enough distance of at least 2R risk reward ratio

To properly apply an exit level, you need to ensure there’s some little distance away from the key-level you target as your point of exit. Let’s refer to the image above.

 We can see the bullish rally continues from bar 1 to bar 2, and it broke point X, which is a resistance now turning into new support. Bar 3 confirmed point X as new support, thereby carving a bearish harami.

This bearish harami suggests if a bullish close should occur above the bearish harami of bar 3, then it’s an indication for the continuation of the bullish rally. Therefore an entry order can be placed some distance above bar 3 while stop loss below point X, which is the support.

You can see on the image there are two structural or technical levels to apply our exit; I would prefer SL 2 so as to have enough room for the setup to breathe.

Bar 4 ensured a bullish close above bar 3, which its summation with bar 2 gives a bearish harami.

Now study bar 5; what do you notice?

We can see bar 5 made a strong bearish retest, and there was a bullish rejection due to the bullish forces which acted at point X and which is the active support.

Imagine having your stop loss at point X or at the low of bar 3; the market would have smiled at you, thereby stopping you out of the trade.

The raw truth is; the market doesn’t hate you nor does it like you, it operates based on human Psychology. The market studies our behaviors and can read our mind and that’s why it’s always the master to all traders.

No easy route to profit in the market, and to be successful in trading, you have to get done your assignment. We can see how bar 6 went further to drill a lot of traders, some traders would have exited their position, but traders with deep knowledge of key-levels would have ensured their bullish sentiment is intact.

Exit And Entry Strategies
It’s best to ensure some pips away from key-levels when placing stop-loss

Bar 6 took price to bar 7 at point Z which is 120 pips from entry level at bar 3. There wasn’t an historical level of resistance in this market 

therefore; the Risk Reward Ratio Exit Strategy would have been our guidance to exit this trade in profit.

It’s time I show you how to apply exit based on buying to the resistance level; this is also applicable to selling to support level. 

It’s much easier to exit a trade at resistance or support level if there’s a historical price level on the trading chart and if there’s not, the Risk-Reward Ratio Exit Strategy would be our guide.

The term historical price level on the trading chart means a previous point of market reversal or rejection of price or a trend.

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PROCEED TO THE NEXT CLASS HERE: Entry And Exit Strategies Part 2

Top 5 Reasons Why You Should Start trading the Forex market

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Start Start trading the Forex market
Start Start trading the Forex market

All thanks to the advancements in technology, which have helped people to easily learn how to start trading the Forex market. As great as this is, it has also led to many challenges for pockets of people to know which of these markets to venture into.

Start Start trading the Forex market
Start Start trading the Forex market

To novices coming into the market, choosing the financial market of choice is more like a nail-biting task but guess what? It isn’t insurmountable. Before you decide which of the markets to venture into, consider the pros and cons of the options available to you beforehand. 

Forex market happens to be one of the most performing markets available in terms of the benefits it offers. You can’t be wrong with this amazing market as it only requires you to have fewer resources to get started.

Here are the top five reasons why you should Start trading the Forex market today. Ready to learn more about this? Kindly read on!

1.      Little or no start-up capital

Are you worried about the money to get started trading in the Forex market? Well, the good news is, this market isn’t like the usual market where you need some huge bucks to get trading up and running.

Here, you can Start trading the Forex market with little or no money. There are cases of people who started trading with as little as $100 and have gone up to amass a ton of dollars while trading in this affordable market.

If you aren’t sure of your knowledge yet, there’s a chance for you to create a demo account where you practice the trading skills without having to risk any amount. That’s how excellent this market is!

So long you’ve got a connected phone or laptop, you’re good to go with Forex trading, and once you decide to Start trading the Forex market with money, you sure don’t need to drain your pockets before doing this. 

There are several brokers who allow a minimum deposit of $100 – $200 to live trade. Once you’re ready to learn and follow instructions on trading, you need not worry about the start-up capital for this market. This reduces the barrier of entry to the barest minimum.

2.      Multiple sources of income

Nowadays, achieving financial independence as a person requires you to be very smart. It’s not enough to see opportunities, but you must be ready to key into it if truly you want to be secured financially.

A proverbial pocket perforated with life’s essential needs can’t likely be taken care of with a 9 to 5 job only. There have to be multiple sources of income, and that’s what the Forex market offers. It reduces your over-reliance on a job that doesn’t pay well.

A ton of Forex traders utilize it as a supplementary source of income. You don’t have to quit your job, at least not yet, to get into trading in the Forex market. When you’ve got a decent account with enough bucks to rely on, you can quit your sweat-demanding 9 to 5 job for some cool businesses later on.

3.      Flexible working space

Trading in the Forex market is easier as you can do this anywhere without having to be in an office. You don’t have to own an office before working in this flexible market. So long you’ve got a connected device, you’re good to go. It’s one of the good things about this financial market.

What this also means is that you can trade while still maintaining your 9 to 5 job. It doesn’t disturb your daily schedule in any way. Know the best time to trade, then stick to it. You can even be on holiday at some islands, and still be trading and cashing in cool bucks.

4.      24 hours of trading time

Forex market is an accessible market for anyone at any time of the day. If you’re the busy type who doesn’t have time during the day to hop on the market, you can still trade at night at the comfort of your room. Yes, it’s that easier!

You can as well trade on weekends in the Forex market, unlike in the stock market. This gives those coming into the market the opportunity to carefully trade without rushing through it during the busy weekdays.

5.      High liquidity

In terms of liquidity, the Forex market is one of the leading financial markets in the world. It’s got a larger number of sellers and buyers who are always willing to trade. This means if you’re a trader, you’re sure to get a fair share of trading in terms of buying or selling your currency pairs. This makes it extremely difficult to manipulate prices anyhow in this huge market.

Forex market is a great financial market for anyone interested in financial security. It offers enormous benefits more than the points mentioned above. All you need to do is to try it today and your life isn’t going to be the same again.

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READ ALSO : Full-Time Trading: Can You Do It for a living?

Which Cryptocurrency Will Explode?

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The Financial Market
Cryptocurrency Market

FIRST CRYPTO

Which cryptocurrency will explode? This is the major question for crypto enthusiastic and investors in the crypto industry. Since the release of Bitcoin and original digital coin in 2009, there have been more than 5,000 altcoins available and and many of them are trying to be the best crypto token.

Although bitcoin is the crypto king, many of these new coins are claiming to be the best of them all. Which of these crypto coins will explode now since there is a stable digital coin market? Continue reading to know which one to invest in this time.

Which Cryptocurrency Will Explode?
Cryptocurrency Market

However, investors are looking for some crypto coins to invest in to become successful. Since crypto coins do not have value by themselves, some factors are responsible for their success. 

A smart investor should understand these factors to know which crypto coin will explode. Some of these factors are the technology such crypto represents, the platform it stands on, its implementation format and how it is attracting attention in the crypto industry. Other factors include the price, volume and supply limits.

Top 5 Cryptocurrencies That Will Explode

Now, let’s look at the best cryptocurrency in the market and those that have the potential to explode and become the best crypto token in the crypto industry. These top crypto tokens including Bitcoin, Zcash, Ripple, Chainlink, and BAT tokens are valuable and may explode soon.

Bitcoin (BTC)

The most apparent cryptocurrency that investors should invest in is BTC and it may explode very soon in the crypto industry. However, there is a moderately slow growth of bitcoin on the supply side due to its halving which is affecting the number of new incoming bitcoins. 

Back to the demand side of BTC, a sudden increase in BTC price will draw people’s attention. This simply means that investors will make more profit if they venture into bitcoin now. Therefore, BTC is the top crypto coin that may explode soon and it is worth your investment.

Zcash (ZEC)

One significant thing in the crypto industry is privacy and this is why privacy-focused coins are likely to explode and win big soon. Zcash, a coin with privacy, is likely to be ahead of other altcoins. Since another unique quality of cryptocurrency is emerging, investors will be moving to coins with more privacy. 

Privacy is a vital characteristic of both the financial institution and the crypto world. So, if you want to make more profit as an investor, you should invest in Zcash as it will soon explode. Zcash is the best crypto token when it comes to privacy.

Ripple (XRP)

Ripple may explode soon because it is one of the main crypto coins available. A company that leverages blockchain technology produces ripple coins to enable businesses, digital asset swapping platforms and banking institutions to transfer and receive money anywhere. This will be possible using the company’s crypto coin, ripple (XRP). 

Based on many reasons, Ripple is the backbone of crypto payments. As crypto coins are gaining more traction, this is why they are asking more financial institutions and more people to join their network.

Many banks are joining ripple (National Bank of Egypt recently joined) and this is increasing the demands of ripple. This means that the price of XRP will begin to rise and XRP will explode soon.

Chainlink (LINK)

LINK (produced by Chainlink) is a new perfect cryptocurrency that should remain great for the near future. Chainlink has a price of about 2.09 dollars in January and it hits 5.84 dollars in about seven months. This means that the LINK coin has been rising and it would continue to rise in the near future. 

Chainlink controls blockchain technology and this is what creates smart contracts. It also produces contracts without using central oversight. This is what will make this coin explode in the nearest future.

Basic Attention Token (BAT)

BAT is a top cryptocurrency that has the tendency of exploding. BAT has a simple core idea that could make it explode.

The incentives that go to both the user and the advertiser do not align because their digital promotion model is shattered. This means that advertisers need the customers to look at their ads but users, on the other hand, always want to avoid looking at the ads. 

To allow watching of the advertisements, users are paid in BAT when they browse using the Brave browser. This will help generate awareness of the product of the advertisers while paying the users.

Once this cryptocurrency starts gaining more customers, the price will appreciate and it could explode soon.

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READ ALSO : 5 Mistakes You Should Watch Out For As a New Crypto Trader

5 Mistakes You Should Watch Out For As a New Crypto Trader

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5 Mistakes You Should Watch Out For As a New Crypto Trader
5 Mistakes You Should Watch Out For As a New Crypto Trader

You may have attended the best crypto seminars of the year; if you aren’t careful, you may still fall into some costly mistakes as a beginner. Starting on crypto trading is always a learning stage for every trader. Hence, you should do your due diligence and leave no stone unturned before venturing into this crypto trading.

A New Crypto Trader

In this article, we’ll discuss five common mistakes many newbies in crypto trading usually fall into and how best to avoid such costly mistakes. Kindly read on to find out more!

Little or no knowledge of the technology

This is one of the major mistakes many newbies commit when venturing into crypto trading. They have little or no knowledge about the technology they’re putting their money into. Oftentimes, they end up committing unnecessary mistakes, which could have been avoided if they had taken time to learn the nitty-gritty of crypto-trading.

It’s crucial to be well-versed in crypto knowledge if you must to succeed in this complex market. You need to be abreast of what’s going on in the market to make better decisions rather than basing your decisions on luck. There are a ton of information online you can take advantage of before commencing this worthwhile but tricky journey.

Diversification

As a beginner, it’s a height of folly to put all your savings into crypto trading at a go. That’s not a reasonable way of starting out on a business. Don’t be overzealous; take things with ease, and diversify your investment.

Cryptocurrency is a very tricky market that could pull out surprises at any time. So your best bet is to avoid putting all your eggs in one basket. This gives you a shock absorber if your investment goes out of the window. After all, every crypto trader is a risk-taker, which means if you win sometimes, you lose other times. That’s what it is!

Panic Selling

Here’s another common mistake many beginners fall into. Panic selling is an act of selling one’s cryptocurrency due to the fear of a drop in market value. Trading in cryptocurrency requires you to have a strong mind and a tough skin. This saves you from falling into the trap of panic selling.

The best thing you should do when the going gets tough is to relax and do not sell. In no time, you’ll see the market pick up again. There’s no wisdom in buying at a very high rate, then selling at a lower cost due to some fears. The point here is that you need to be patient, don’t rush in the direction people are heading into during tough times. Smartness isn’t the only quality you should exercise as a crypto trader; patience is also a needed asset in this journey.

Security

Security is perhaps one of the gravest mistakes every new crypto trader should watch out for. There are cases of beginners losing millions of dollars due to the insecurity of their data. Many of these people entrusted their data to a service that isn’t working any longer.

So it’s pertinent to be careful with your data. There are scammers lurking around, looking for ways to compromise your security and steal your cryptocurrency. Endeavour to enable two-factor authentication, data encryption and always use your personal computer when trading.

To take it a step further, document this information in a dairy and keep it safe for future reference even if your plan isn’t to be in the trading for a longer time. This way, you can always restore your data if anything happens to your personal computer.

Failure to study and streamline things yourself

Reading what experts in cryptocurrencies are saying on Medium and Twitter is good but don’t base your decisions on what they said only. Take time to analyse things yourself. It’s your money, and it’s your investment.

One of the easiest ways to get into a mess in crypto trading is to invest based on what people are saying around you. Explore the market and find out things yourself as the crypto market is a very volatile market.

Also, ensure you study the asset you’re investing in. When you’ve gained this knowledge, you can easily make informed decisions yourself based on the previous performance of the crypto and their reasons for the pump and dumb. To avoid investing in a non-performing asset, ensure you study the market pretty well before investing in any crypto of your choice.

A beginner in crypto trading needs to be very smart and patient as it’s a very volatile market out there. Knowing what to do and when to do it is the key to succeeding in this dynamic market. Within a split second, you could gain millions of dollars, and if care isn’t taken, you might lose all your investment in no time. Prepare to learn, unlearn and relearn as a crypto trader.

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Risk Percentage Calculator

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Hotforex Risk Percentage Calculator
Hotforex Risk Percentage Calculator

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