Unfortunately, trading is not a risky business for all interested parties. Many see trade as a kind of game of chance in which the chances are a little more on the side of the players than is the case with sports betting, for example. At least that's how it looks to the outside. There are therefore three target groups for trading for providers:
There is the one trader who, in addition to his actual job, deals with trading a bit and up hopes for a more or less high profit. Comparable to sports betting, however, it tends not to make a big deal out of it, but rather to gamble itself.
Such traders are more likely to accept a loss, since, as mentioned above, they voluntarily participate in gambling. The danger for this trader is to fall into a gambling addiction. Because although he knows that he is gambling, in the end he cannot let it go because he is motivated by completely different reasons than, for example, a trader who sees the whole thing as a business.
The hobby Trader
Then there is the one trader who just wants something more. Namely generate a regular income through trade. Even if he is working, he sees trading as another source of income. For him it is a hobby, but one that should be worth it in the end.
This trader often faces the difficulty that arises with the limited time. Day trading is hardly possible in his case, unless he has a regular daily schedule and can carry out some trades in the evening after work.
However, this can also be seen as his advantage, because this is how he can overtrade avoid. For example, he could make the trade rule to only make one trade in the evening a day.
After a while, he will see whether his strategy was successful or not. He must consistently survive this time until the success of the strategy is recognized with all his losses and winnings.
Unlike the player who only wants to win, the hobby trader regularly wants to earn something. However, because he sees it partly as a hobby, he can cope with no profits. However, losses are difficult for him to accept.
How to trade with Ethereum using Martin trading strategy
The professional trader
The main income of a professional trader is the trading itself. The professional trader sees trading as a business, So he also has to plan the trading process like an operation. The professional trader can therefore be more disciplined in trading than the other "types". He knows that trading is not just buying or selling securities, but planning for his business is paramount.
Throughout his trading career, he evaluates a lot of data, keeps a diary of his trading and follows it strictly follow the rules that have proven successful for him. He sees the whole thing less than a game of chance but proceeds absolutely systematically. At least he should.
It is common for professional traders to make mistakes. Because the difficulty that arises for a professional trader is as follows. He has to earn money because he lives from it. So if the trader does not make money in a period of time and has not completed anything for such times, he comes under pressure.
However, it is common knowledge that trading under pressure leads to increased failures due to rash decisions. If the trader follows a strategy that depends on the current market environment and the risk of losses is currently increased, the pressure can lead the trader to abandon the system. Usually this is the beginning of bad decisions.
Rough timetables for every type
It can be said that all three types of traders have their own motives that can have both positive and negative effects on trade. However, a certain system would be recommended for each type, although it is unlikely that the player will implement it consistently.
Nevertheless, there are even sports betting players who make use of certain systematics. For the hobby trader, it is advisable to focus more on the fact that losses are also part of the series and come to terms with it.
The professional trader should make sure that he does not put himself in situations in which he has to act under pressure. If he makes a profit in series, he should go back a little for bad times to have a buffer.
The broker Anyoption also offers medium-term weekly trading, in which over 200 values can be traded with binary options. Weekend specials are also on offer, which could be of particular interest to the hobby trader.