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How to trade currencies Read the currency trading tutorial

Date:2024-06-05 18:39:14 Channel:Build Read:

In today's digital age, currency trading has become one of the important ways for people to pursue wealth growth. Whether you are a novice or an experienced trader, you need to master the correct operating skills. This article will take you to an in-depth understanding of how to operate currency trading, and read the currency trading operation tutorial. Let us unveil the veil of this financial world full of opportunities and challenges.

 Seize the opportunity and seize the opportunity

In currency trading, seizing the opportunity is crucial. For example, when there is a clear trend in the market, it is often the best opportunity to make a profit. For example, when a currency pair breaks through a key support or resistance level, this may indicate the continuation of the trend, and traders can formulate corresponding trading strategies based on this signal.

 Learn risk management and keep the principal

In currency trading, risk management is a vital part. A smart trader will set a stop loss and stop loss in time to protect the principal. For example, when the market reverses and hits the stop loss level, it is wise to close the position decisively to avoid further loss of the principal.

 Pay attention to the trading mentality and stay calm

The trading mentality is crucial to trading success. When the market fluctuates violently, staying calm and not being swayed by emotions is the basic skill of traders. For example, when the market fluctuates violently, emotional excitement may lead to impulsive trading, while the wise approach is to remain calm and analyze market trends rationally.

 Learn trading techniques and keep improving

With the development of technology, trading techniques are also constantly updated. For traders who want to succeed in currency trading, learning new trading techniques is essential. For example, mastering technical analysis tools and understanding the operation methods of trading platforms can help traders better grasp market trends.

 Keep learning and keep improving

Currency trading is a process of continuous learning. Only by maintaining a learning attitude and making continuous progress can you be invincible in the fierce market competition. For example, regularly reading currency trading operation tutorials and participating in trading technology training are effective ways to improve trading levels.

 Conclusion

Currency trading is a field full of challenges and opportunities. Only by mastering the correct trading skills and constantly learning and improving can you be invincible in the market. I hope that through the introduction of this article, you can better understand how to operate currency trading, read currency trading operation tutorials, and thus go further and further on the road of trading and gain more success and gains. May you have smooth sailing and a full harvest on the journey of currency trading!

The four most famous international exchanges:

Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
Binance International Line OKX International Line Gate.io International Line Huobi International Line
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.


When seeing the question to be discussed in this article, many investors are very eager to know the answer. However, before answering this question, the editor of Coin Circle believes that investors should first understand coin-to-coin transactions. Coin-to-coin transactions are actually a kind of exchange transaction between digital assets, which allows investors to invest in digital assets more conveniently without increasing investment. After understanding coin-to-coin transactions, let's return to the topic. How to operate coin-to-coin transactions? The following Coin Circle editor has compiled a coin-to-coin transaction operation tutorial for investors to refer to and learn.

 How to operate coin-to-coin transactions?

Coin Circle will take the purchase of BTC as an example to tell you about the coin-to-coin transaction tutorial. Coin-to-coin transactions are transactions between coins directly exchanged without the participation of legal currency.

1\. Open the official website of OKX Exchange, click the [] button in the upper right corner of the page to enter the registration page, and enter the email address on the homepage.

2\. Slide the slider to the right to complete the puzzle for verification, and then enter the verification code received in the email. The verification code is valid for 10 minutes.

3. Then enter your mobile phone number and click "Verify Now"

4. Enter the six-digit verification code received on your mobile phone, which is also valid for 10 minutes

5. Select your country of residence and check the Terms of Service, Risk and Compliance Disclosure, and Privacy Policy and Statement

6. The password you create must be 8-32 characters long, 1 lowercase letter, 1 uppercase letter, 1 number, and 1 symbol, such as:! @  $ % and other conditions

7. Verify your identity (KYC verification) before you can trade. Click [Personal Center] - [Identity Authentication] in the upper right corner of the homepage to enter the identity authentication page. Follow the prompts on the page to complete LV.1 basic authentication, LV.2 advanced authentication, and LV.3 video authentication.

Notes:

(1) The higher the authentication level, the easier it is to match better merchants and more favorable prices when conducting fiat currency transactions.

(2) The official website cannot perform LV.3 video authentication. Please download the Ouyi APP to complete the authentication.

8. After completing the above operations, you can trade. Click [Trade]--[Basic Trading] at the top of the page to enter the trading page.

9. Click [BTC/USDT] trading pair to see the real-time BTC market.

10. Fill in the amount of BTC to buy and click Buy. If you want to sell, fill in the amount of BTC to sell and click Sell. Note that the minimum purchase amount is 0.00001 BTC.

 How to calculate the currency transaction fee?

Below, the editor of the currency circle takes Bitcoin as an example. The Bitcoin network rules have a built-in transaction fee structure, which depends on the (standard) client recommended by the system.

In the underlying protocol of Bitcoin, there is no clear regulation on the specific amount of Bitcoin transaction fees, but it is required that the total input in the address is not less than the total output, that is, the total number of Bitcoins in your wallet must be greater than the sum of the transfer amount and the fee amount. This is very simple to understand. You only have 10 yuan, and a transfer of 10 yuan will charge a fee of 1 yuan, which means that you have to spend 11 yuan, 10-11=-1. This transaction is naturally impossible to complete.

The level of Bitcoin transaction fees is determined by factors such as the size of transaction data and the number of transactions. Bitcoin follows the UTXO model, and each transaction includes several transaction inputs and transaction outputs. In fact, the composition of each unspent transaction output depends on your transaction input. When you need to transfer 1 bitcoin to another address, it may be composed of 5 0.2 bitcoins in your transaction input, or it may be composed of 10 0.1 bitcoins.

Generally, an ordinary Bitcoin transaction consists of one input and two outputs (transaction output and change output), about 200 bytes. If calculated at the default charge of 0.0001 bitcoin per 1000 bytes, the handling fee for a Bitcoin transfer is about 0.001-0.002 bitcoins. However, when a single input is not enough to pay for the output, the above-mentioned problem of multiple transaction inputs constituting unspent outputs will occur, and its data volume will increase. The more complex the composition of the unspent transaction output, the more bytes need to be processed, and the higher the handling fee.

Today's Bitcoin wallets can intelligently adjust the handling fee to the best price based on network data when transferring money. If your transaction needs to be confirmed urgently, you can also increase the handling fee by customizing the fee.

The above is an introduction to how to trade coins and coins. For those who want to invest in digital currencies, the most important thing is to control their hands, because generally speaking, frequent trading is the beginning of entering a trading trap. It can be said that many investors nowadays will suffer huge losses due to excessive trading, especially novices in the currency circle. This is mainly because when novices in the currency circle first start to trade digital currencies, they are not calm and will follow short-term market conditions to trade digital currencies. This can easily lead to excessive trading, and sometimes even dozens of transactions a day. In the end, some investors can only watch their funds being looted by the market.

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