There is an art to trading. It requires a certain discipline that not many prospective investors are innately gifted with. In order to be profitable, one must ignore the human propensity to react emotionally to a stressful or unexpected situation. Inside many markets - particularly those inclusive of cryptocurrencies - volatility can strike without a moment's notice.
Wild price swings, however, are just one of the obstacles a trader must surmount before genuinely mastering the game.
Reaping the Rewards
High rates of return are a direct product of both a thorough understanding of the markets and an appropriate strategy. For some, the ability to stick to these rules can pay off. In the past decade, global stock exchanges have netted a 320% rise. In the past 20 years, major indices such as the NASDAQ 100 graced investors with a return on investment (ROI) of 300%. Moreover, in the same time frame, the Dow Jones and the S&P 500 have cited respective ROIs of 196% and 154%.
It isn't just the stock market that can produce lucrative gains. Interestingly, Forex trading is the go-to-market for some of the world's most prominent financial institutions. Many banks cite Forex trading as one of their most profitable ventures. An estimated 30% of banks put their deposits into the forex market, accruing around 40-60% profit as a result.
Of course, cryptocurrency - the youngest of all the markets - has yielded some of the best returns among nearly every asset class. According to a recent report by Coinshares, over the past five years, Bitcoin has bettered almost every top-performing investment by a massive 94%.
Regardless, across the various stock, cryptocurrency, and Forex markets, one adage continues to hold truth: knowledge is power.
Looking to provide a clear understanding of these markets is Elitetrading- a bespoke interdisciplinary review website, providing advisory insights into multiple brokers and market trends.
Best Brokers for Your Buck
The platform reviews a myriad of brokers to ensure traders make the informed choice. First, and foremost, well-regulated broker, mandated by the relevant authority represents the most viable sign of integrity. Furthermore, adopting an appropriate environment upon which to trade is critical and can mean the difference between failure and success.
According to Elitetrading, - the ideal broker provides a variety of financial products and tradable assets, as well as trading resources - such as charting tools and educational material.
All of these factors and more are taken into account within elitetrading's review criteria. But the platform doesn't just provide broker critiques, Elitetrading also cites trading software within its review repertoire.
The Software Strategy
It's been revealed that 90% of successful Forex traders use trading bots or similar trading software.
Offering comprehensive reviews of several types of trading software, Elitetrading highlights some of the most integral features of multiple bots. These include automated strategies founded on both technical and fundamental analysis, as well as asset-specific bots and more diversified varieties.
Autonomous trading via a bot negates the drudgery of scouring for technical indicators. Instead, the trader is free to pour time into research. Harnessing the use of trading software, investors can optimize efficiency and thus increase their profit margins. Nonetheless, the choice of software peddler is vital; a selection must be based on individual cost-benefit. This is why a proper review process is indispensable.
In a sector where one false move can prove disastrous, it's essential to be equipped with the knowledge to make the right decisions.