Forex Advice gives you the necessary information to develop into a successful Forex and Crypto trader. At Forex Advice you will find tips, advice, reviews, Crypto and Forex information.
Do you trade Forex and or Crypto? Or do you want to start trading? If you do this smartly, you can make a lot of money. But you can also lose a lot of money with it. You understand that it is very important that you are well informed. So you’ve come to the right place at Forex Advies.
European Central Bank Ceo wants a ban on Bitcoin mining
Fabio Panetta is a chief executive of the European Central Bank. He wants to ban Bitcoin mining in the European Union. The reason behind this is of course a trite reason and can easily be refuted with many arguments.
On December 7, Panetta called at the London Business School’s Insight Summit to ban tokens that have an excessive carbon footprint. Panetta clearly refers to Bitcoin. In addition to Bitcoin mining, there is of course also an awful lot of trading in Bitcoin.
Popular crypto platform such as Bitcoin Prime and Bitcoin Revolution also make trading crypto a simple and passive activity. If Bitcoin mining is banned, trading Bitcoin via Bitcoin Prime and Bitcoin Revolution and all other competing trading platforms will be much more difficult.
More than 50% of the Bitcoin network runs on renewable energy. This renewable energy is just as popular with politicians. The oil industry also shows that thanks to Bitcoin they can have a lot less CO2 emissions. Bitcoin mining makes it possible for the gas and oil industry to sell excess production gases.
This is a nice fact because at the same time these industries can emit less CO2 when processing it.
It should be clear to you that if you are a big proponent of renewable energy that you are also a proponent of Bitcoin Mining and therefore trading in Bitcoin. The various trading platforms where trading in Bitcoin is made possible are often also environmentally conscious.
In addition, the trading platforms are not only there to trade in crypto currencies but also to be able to invest in raw materials such as oil or in parts of sustainable energy, such as solar panels. An important point that must be taken into account is that sustainable energy depends on our nature.
For example, if there is a lot of wind blowing, a lot of wind energy can be sold, but if there are not enough customers for this, then that is overproduction of energy and that is certainly a shame.
For example, if Bitcoin mining were to be connected to this, this energy does not have to be lost and can be used for mining Bitcoin. With this in mind, it may be that the margins of renewable energy also go up again and sustainable energy becomes more profitable.
Bitcoin mining makes it possible in this way to make renewable energy (more) profitable. And it can thus ensure that investing in renewable energy is made more attractive to more investors.
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Trading Forex is a very accessible way to make a profit with your assets. Are you interested in using your assets to trade other currencies, CFDs, indices or stocks? You have a choice of platforms on which you can trade.
Each platform has its own qualities, advantages, but also disadvantages. Forex Advice gives you the information you need. We will help you start trading Forex and other assets. But above all: through forexadvies.com you can become a successful trader and achieve good returns.
The world of Forex trading is intriguing. Quickly read more info about the most popular Forex platforms such as Plus500, Markets.com and eToro.
Or read more about various topics related to forex trading. This knowledge will come in handy when you start trading. With us you will find the tools that will help you to become a successful trader.
What is Forex?
Forex means ‘Foreign Exchange’, or trading in foreign currencies. As a trader, you can make a profit when the value of one currency rises against another currency. The profit is booked by buying and selling two currencies. Forex trading is often a day trade. You try to get as much profit as possible from buying and selling Forex. So you do not hold the investment for long, because this does not pay off proportionally.
Forex trading works as follows. You take a position on a Forex platform. The exchange rate is constantly changing. These changes are very important, and are calculated up to 4 decimal places. You can invest in Forex with a large capital, but also with a small investment. But beware: the higher the investment, the more you can do about risk management.
You can also work with leverage, or leverage. Leverage can give more profit, but also more loss. As you are used to, you achieve the highest profits by taking more risk. Therefore, we recommend that you know what the different functions and instruments are on the trading platform before using them. Then you can take advantage of it.
Start Trading Forex with Forexadvies.com
At Forex Advice you will find information about the largest, most well-known and most popular Forex brokers. In reviews we discuss these brokers extensively, so that you get a good idea of the advantages and disadvantages of the online brokers.
At Forex Advice you will find information about binary options, trading cryptocurrencies such as Bitcoins, trading CFDs, trading currency pairs, and so on. When you want to make a profit in trading, it is essential that you have sufficient knowledge about the specific price of the assets in which you want to trade. You need to know what you’re doing, set up the right strategy, and understand the best time to get in or out of a position. You also need to understand which functions you can use and how they work. You need to be able to correctly interpret the price, figures and measuring instruments to take advantage of this.
Are you familiar with all facets of trading on an online trading platform? To help you with this, we have listed a lot of information and questions. Feel free to take advantage of this. Read our tips and tricks and apply them yourself. Our goal is to guide you from starting trader to successful trader at an online broker(s).
Determine your goal with forex trading
Many people start trading Forex as a stepping stone to starting to invest and invest. The only way to make a profit in Forex trading is to have sufficient prior knowledge.
How do the instruments work on trading platforms?
How can you make a forecast of the exchange rate?
What does pips mean?
How can you use leverage successfully?
When you want to choose the best online broker as a novice trader, you can take advantage of the best welcome bonus or deposit bonus for novice traders. Nevertheless, we advise you not to choose a trading platform based on bonuses. Compare different trading platforms based on fees. So compare them based on spreads, commissions, deposit fees, the cost of withdrawing money from your account, etc. The costs determine to a large extent the amount of your return, not the bonuses.
When choosing an online trading platform, it is important to have clarity about the goal you have with trading. Then you can choose a trading platform that best supports this goal. Important considerations you should make are:
What is the capital you want to invest?
What risk are you willing to take?
Keep a log of which investments you have made, with associated gains/losses. You can learn a lot from this.
What are your short- and long-term investment goals?
In which currency do you want to invest?
With a clear plan, you are much more likely to make a profit from your investment. When you know what you want and how to achieve your goal, you can also get more pleasure from trading. And you can get more profit.
What kind of trader do you want to be?
You have now drawn up a plan. The next step is to determine what type of trader you want to be. The type of trader also determines the way you want to trade. What suits you best?
The gambler, you start from your instinct and do not use any prior knowledge. This is a very bad way of trading Forex. Knowledge, experience and arguments determine the profit. The race does what it wants, so a hunch or instinct says nothing.
The saver, you invest your savings or your pension to build up a larger capital. Smart, but don’t take too much risk, because then you will lose your savings or pension. Invest the part you can miss.
The doubter, the doubt ensures that you make few decisions and therefore take few positions. Your money stays in your account, without really growing. While your goal is to make a profit, right?
The calculator, you want to be faced with as few surprises as possible and faithfully calculates the risk, the costs, the deposit costs, and so on. You are smart and calculating, but you achieve profit by taking risks. Are you willing to take risks?
The aggressive trader, you open positions quickly and want to cash in quickly. Make sure you don’t let stress and anxiety dominate you. Make informed decisions.
What type are you? Your goal with online trading should be to make a profit. The gambler makes stupid decisions and therefore makes a loss. The doubter makes decisions too late or not, and therefore misses out on profits. These are therefore not a productive type of investors.
However, the type of trader you would like to be depends on the goal you have when trading. Do you want to trade full-time? Or do you have a full-time job during the day and do you want to trade outside of work? This goal also determines your behavior as a trader.
Benefit from free Forex Advice
Investing in Forex is a risky business. You invest your money in the hope that you will make a profit on it. However, you don’t make a profit based on luck. Forex trading is not based on luck, but also knowledge and experience. Only with the right knowledge and experience in trading can you make a profit and get a good return on your investments in Forex.
Based on the right knowledge and arguments, you can open and close the best positions. Without the right knowledge and experience, you will make stupid decisions and you may lose a lot of money in Forex trading. That’s why we definitely recommend that you take advantage of all the information, reviews and tips you’ll find at Forexadvies.com.
Choose the online broker that suits you, and the broker with the lowest fees. Use the free demo account. When you can trade confidently, without emotions or doubt and make profits in the demo account, you are ready to open a live account with an online broker. Then you can start trading with real money. And open positions based on good arguments.
Then it will not only be easier to make profits, but you will also notice that you also have more fun with it.
Trading cryptocurrencies, such as Bitcoin
Cryptocurrencies are very popular as an investment. Bitcoin is the best-known cryptocurrency. The price of cryptocurrencies is constantly rising and falling. This allows you to make high profits with cryptocurrency, but also lose. However, don’t be surprised by these violent fluctuations. Chances are that you will definitely make a profit in the long run. Especially when you buy cryptocurrency when the price is low.
The great thing about trading cryptocurrencies is that there is a low threshold. With a small amount you can already start trading in this digital cryptocurrency.
Many people think that you can get rich quickly by investing in cryptocurrencies. So buy and sell quickly again. However, it turns out that people who take a position for a longer period of time make much more profit. So this is a consideration you can take. Furthermore, of course, the same applies as with all investments. Every opportunity to make a profit also comes with a certain risk.
Start trading CFDs
CFDs are good investments for short positions. Trading CFDs can also be a little more complex than trading Forex. CFDs are not assets, but you actually trade in contracts. So many underlying assets can be chosen. Think, for example, of shares in Shell, different currency pairs, the price of platinum, and so on. The choice differs per online broker. Therefore, choose the online broker that offers you the best for trading CFDs.
Why Trade Forex?
Many successful traders have started trading Forex, in currencies. The market for Forex is very dynamic. The price is constantly changing.
You can stay up-to-date by keeping an eye on the news. Because the exchange rate of a certain currency depends on, among other things, economic and political situations. When one currency falls in value, the other currency can benefit. Trading Forex is therefore certainly exciting. That’s probably why it’s so popular.
You combine political and economic developments in the news with the knowledge and experience you have. Here you base the positions you open on the Forex market. It is important to always have access to the current news situation, because you base certain decisions on this.
Of course, there are also risks associated with investing in Forex. That is why it is important that you do sufficient risk spreading. But it is especially important that you do not let yourself be influenced by emotions or stress, but always make well-argued choices. Then profit is waiting for you.