Cryptocurrency Portfolio Manager – The Key to Being One Step Ahead
The first thing that you will immediately discover about Cryptocurrency trading is that trading currencies can be a lot like riding a very daunting roller coaster. Sometimes you’re up and sometimes you’re down. When you’re up, returns can be exceptionally high, but in order to achieve this you must:
- Be willing to invest a lot of your time and experience into the process.
- Be well-informed at all times.
- Have the ability to make decisions quickly.
These 3 things are vital if you intend to make any profitable trades.
Cryptocurrency Portfolio Manager
It is this need to make fast, well-informed decisions that has led to the invention of Cryptocurrency Portfolio Manager software. Crypto Portfolio helps investors keeping track of all their trading activities, gets updated news regularly, gives real time reports from CoinMarketCap Top 100 while at the same time helping them learn how to trade Cryptocurrency successfully. Cryptocurrency Portfolio Manager simplifies the task of tracking your cryptocurrency portfolio.
Analysis
By using the analytical tools contained in the Cryptocurrency Portfolio Manager, you can determine which sort of trade will bring you the best profits and give you some idea of which direction to trade in. This significantly reduces the learning curve involved and for those starting out with cryptocurrencies.
Will prices go up or down?
With so many factors affecting the direction that cryptocurrency prices will trend in, the formula involved to accurately predict these trends is far too complex for the average crypto trader. It is for this reason that most successful cryptocurrency traders are using the analytics from the Cryptocurrency Portfolio Manager.
Is it compulsory to use software?
No. It is possible to trade without the use of Cryptocurrency Portfolio Manager and achieve great results. First, explore the trading history of various currencies. Once this data is collected, you will then need to analyse the data yourself. But be very careful, even the most experienced crypto traders will avoid this route. Why? Because more often than not, this method will result in greater losses in the long run.
Commodities Trading Explained
Commodity trading or commodities trading as basically referred to as a type of investment strategy that involves a series of purchasing and selling of goods that are considered as commodities.
What is a commodity? A commodity is looked upon as something that is of value, has consistent quality, and is normally produced in bulk by a large chain of manufacturers. Perhaps, a commodity is the opposite of necessity. A necessity is a need; something that people should have in order to sustain the quality of their lives such as food, clothing, water, and shelter. A commodity, on the other hand, is something that people do not necessarily need but are willing to invest on since they believe that it gives them a sense of satisfaction and pride. Examples of commodities are goods, services, cars, and other valuable products.
Commodity trading refers to buying and selling commodity futures–contracts about a delivery of commodities. The most popular commodity futures are oil, natural gas, gold and wheat futures etc.
Individuals can trade commodity futures through a brokerage firm that executes clients’ orders to buy or sell certain commodity futures either on organized exchanges such as MCX & NCDEX.
Buying and selling commodity futures within a one-day time frame is called day trading or intraday trading.
Point to Remember:
- Keep Watching Demand Factors
- Keep Watching Supply Factors
- Keep Watching Technical Analysis
- Keep Watching Developments in Other Financial Markets
These are the main factors to keep in mind before buying and selling commodity futures.
In a commodity exchange, everyone is free to sell and buy products. As with anything else, prices vary depending on the supply and demand for a certain commodity. Think of this as an example: The given commodity is tobacco. If a country’s largest tobacco field gets wiped out by a natural disaster, the remaining tobacco resources would definitely have a higher demand and a drastic increase in price. But of course, to start trading commodities you’ll need a reliable commodities trading platform, such as IronFX. IronFX is an award winning platform where you can trade almost any of the commodities, since they have ten trading platforms where you can choose to trade Forex, cryptocurrencies, futures, precious metals and much, much more.