Most people say that when they buy, the currency drops, and when they sell, it rises, and most lose money this way. So, I'll share a trading secret I discovered during my trading career:
The "upward trap" lures traders into buying, believing the currency will rise even more. But when they buy, after a few minutes, the currency drops. This is normal because the same criteria you used to measure your purchase, and the thinking behind it, are applied by thousands of traders who buy. When they buy, supply increases and demand decreases, causing the currency to fall.
So, here's some advice:
✅1. Don't buy when you see the currency rising.
✅2. Don't invest all your money in a single currency.
✅3. Verify the currency before buying it.
✅4. Don't sell when the price drops, no matter the cost. These are markets of supply and demand; if it falls today, it will rise tomorrow.
✅5. Understand that you're entering to profit, not to lose. Most people see another currency rising and sell the first at a loss, only to chase after the second and fall into the same trap. Don't sell at all.
✅6. Buy when you see the markets falling.
✅7. Never sell for less than a profit.
✅8. If you have a small amount, don't invest in currencies with a price exceeding $1. Invest in currencies with lower prices to profit.
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