Hello. Today I want to talk about listing a new cryptocurrency on exchanges, especially in BINANCE, and how profit can be made from this. And I also want to touch on the topic of the psychology of the trader in the second part of this material. Are you ready? So let’s start!
Listing a new cryptocurrency in Binance
Listing is the start-up of new digital money on exchanges. Before buying or trading this or that token, it must first appear on the crypto exchange and become available. For new projects, it is important to get on popular platforms such as BINANCE, Kucoin, Huobi, and others. This increases liquidity and the likelihood of an increase in the price of the token.
There is still a pattern – the more exchanges support a coin that trades it, the higher the status and reputation of the project. And vice versa – the lack of cryptocurrency on the popular exchange causes disappointment and dissatisfaction of traders. But in order to be listed on a crypto exchange, it is necessary to meet certain requirements.
I partially addressed this issue in articles and videos “Binance Lottery and Launchpad” and “Voting for Binance”. However, not all coins go into Launch or Vote Binance projects. Some digital money simply starts available in the exchange without any events. Now I am showing you an example of news when crypto just starts trading in BINANCE.
The advantage of the listing is that at the time of run there is the opportunity to buy a new token and sell it with profit on the same day or after some time. A new coin usually causes a great stir among traders and investors. However, the bad side is that at the start you do not have these coins and you need it to buy before. But buying does not always work at a low price. In general, trading on a listing with profit is possible but needs to be careful.
Trader Psychology – Winn Yourself
The psychology of a trader is one of the important points in trading. To successfully trade, a person needs increased attention, concentration, the ability to control himself, and emotions. Moreover, both positive, and negative emotions are harmful to the trader. If the trader begins to get very angry in case of loss of money or joy of profit, the next deal usually leads to huge losses.
It is important to learn to control yourself and be in a neutral state. To calmly relate to everything that happens on the market, while being able to manage to open and close deals, even if they bring financial losses. It is also important to analyze the situation and understand what should be done next time better in your trading strategy.
To do this, you need to meditate, take a break and relax, keep notes, and analyze your actions in the “Trader diary“. In this case, you will become a professional trader with a large number of successful deals than not successful ones. Communication with other traders in the botcryptotrade.com group will also help. Support from friends and mentors in crypto trading will help to overcome stress and avoid rash actions.
In this video, I told you about the cryptocurrency listing in BINANCE, as well as the psychology of the trader. Indeed, when trading coins, it is important to be able to think, plan, and control your emotions in order to be a successful trader. And botcrytptrade.com will definitely help you with this. This video finished and see you in my next videos.