Forex Trading And Mining Demystified: Tips For Toronto’s Traders

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A decade ago, forex was a market reserved for a select few. Now, anyone can actively trade in this profitable market – even those without formal financial education. Enter James Dix, a leading forex expert and academic who has cut his teeth in this growing market and wants to share his years of experienced wisdom with you.

Forex Trading And Mining Demystified: Tips For Toronto’s Traders

Forex Trading And Mining Demystified: Tips For Toronto's Traders

A one-stop sourcebook packed with everything a trader needs for quick-start success in the 24-hour market. In addition to covering every fundamental aspect of FOREX, this hands-on guide offers hard-won tools and strategies from an experienced trader, helping you minimize your exposure to the inherent risk in this unique market.

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A handy volume you’ll return to time and time again, FOREX Trading Secrets includes specific examples of proven trading strategies that work in the real world, a simple and profitable technique for money management, and confidence-building skills to create your own source of income.

Is the place to start. It covers the essential basics, including all major currency pairs, the mechanics of trading, how to trade, and deciding what type of trader you are. Experienced traders gain expert insight into the basics, as well as advanced topics like creating a successful trading plan, managing risk, mastering your emotions, and building your portfolio. You will benefit

, you need the practice to build a powerful trading toolbox for protecting wealth in the world’s largest financial markets. We would like to clarify that International does not have an official line account at this time. We have not established any official presence on the Line messaging platform. Therefore, any accounts claiming to represent International on line are unauthorized and should be considered fake. CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs with this investment provider. You can lose your money fast enough to make a profit. Please make sure you understand how this product works and whether you can risk losing money. CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs with this investment provider. You can lose your money fast enough to make a profit. Please make sure you understand how this product works and whether you can risk losing money.

Find out more about trading the volatile – and risky – cryptocurrency markets. Learn how to take positions with CFDs, and then see an example of a crypto trade in Ether.

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Start trading today. To discuss opening a trading account call +44 (20) 7633 5430 or email sales.en@ We are here 24/5.

Cryptocurrency trading is the buying and selling of cryptocurrencies on an exchange. With us, you can trade cryptocurrencies by speculating on their price movements through CFDs (Contracts for Difference).

CFDs are leveraged derivatives – meaning you can trade cryptocurrency price movements without owning any of the underlying coins. When trading derivatives, you can go long (‘buy’) if you think the cryptocurrency will rise in value, or go short (‘sell’) if you think it will fall.

Forex Trading And Mining Demystified: Tips For Toronto's Traders

In contrast, when you buy cryptocurrencies on an exchange, you buy the coin itself. You need to create an exchange account, hold the full value of the asset to open a position, and store the cryptocurrency tokens in your own wallet until you are ready to sell.

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The cryptocurrency market is a decentralized retail currency network, meaning it operates through a system of peer-to-peer transaction checks rather than a central server. When cryptocurrencies are bought and sold, the transactions are added to the blockchain – a shared ledger that records the data – through a process called ‘mining’.

Cryptocurrency markets operate according to supply and demand. However, because they are decentralized, they remain free from many of the economic and political concerns that affect traditional currencies. While there is still a lot of uncertainty surrounding cryptocurrencies, the following factors can have a major impact on their value:

Cryptocurrencies are notoriously volatile. For traders using leveraged derivatives that allow for both long and short positions, large and sudden price movements present opportunities for profit. However, at the same time, it also increases your risk. In short, the more volatile the market, the more risky it is to trade.

With, you can trade cryptocurrencies through a CFD account – derivative products that enable you to predict whether the price of your chosen cryptocurrency will rise or fall. Prices are quoted in traditional currencies such as the US dollar, and you never own the cryptocurrency. CFDs are a leveraged product, which means you can open a position for a fraction of the full value of the trade. Although leveraged products can increase your profits, they can also increase losses if the market goes against you.

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With us, you can use CFDs to trade 11 major cryptocurrencies, two crypto crosses and a crypto index – an index that tracks the price of the top ten cryptocurrencies influenced by market capitalization.

Opening a CFD trading account usually takes minutes. And there is no obligation to fund your account until you are ready to trade. We have provided traders with access to the leading financial markets since 1974 and are a FTSE 250 company.

‘Going long’ means you expect the value of the cryptocurrency to rise. In this case, you would choose to ‘buy’ the market.

Forex Trading And Mining Demystified: Tips For Toronto's Traders

‘Going short’, in contrast, means that you expect the price of your selected cryptocurrency to fall, and here you choose to ‘sell’ the market.

How To Identify Trading Setups

Because you are opening your position on margin, you can quickly take a loss if the market goes against you. To help manage this risk, you can set a stop-loss level on the contract ticket. If triggered, the stop-loss will automatically close your position and limit your exposure.

You can also enter a limit level, to lock in any profits if the market goes in your favor. Here, your trade will be closed automatically as soon as the price you set reaches the market to secure a positive return.

Remember, when trading CFDs, each contract will specify an amount per point of market movement. If the CFD is for $10 per point, and the underlying cryptocurrency price moves 10 points, your profit or loss – excluding costs – will be $100 per contract.

Once you have set the number of CFDs you want to trade, your stop-loss and limit levels, you will open your position by clicking ‘Place Trade’.

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When you decide to close a status, click on the ‘Status’ tab on the left menu. Select ‘Close Status’ and set the number of contracts you want to close. Alternatively, open a market deal ticket and take the opposite position to the one you opened – for example, if you bought CFDs to open, you will now sell, and vice versa.

After completing a detailed analysis on ether price movements, you believe that the market will go above its current level of 3200. Consequently, you decide to take a long position using CFDs. Because you are going long, you open your position by selecting ‘Buy’.

In this example, after applying the 8 point spread – and excluding other costs – the buy (or offer) price is set at 3204, while the sell (or bid) price is 3196. The CFD you use specifies an amount of $1. per point of market movement, and you choose to trade 10 contracts. This brings your total exposure for the position to $32,040 ($3204 x $1 per point x 10 contracts).

Forex Trading And Mining Demystified: Tips For Toronto's Traders

However, positions in Ether CFDs can be opened with a margin deposit of 50%, you only need to deposit $15,020. At this point it is important to note that if your exposure is greater than your required margin, you stand. Lose more than the deposit if the market goes against you. So, to manage your risk, you can set a stop-loss to close your trade automatically.

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As you predicted, the market moves up to the 3500 level, where you decide to close your position and take profit. The sell (or bid) price after the spread is applied is 3496. The difference in value between 3496 and 3204 is 292 points. This, excluding other costs, brings your profit on the trade to $2920 – a return of 19.4% on your margin deposit.

However, suppose the market falls and your guaranteed stop-loss reaches the level, closing your position at 3000. Here, the difference is 204 points, which means you have reduced the loss by $2040 (13.6% of your margin total). , as well as guaranteed stop-losses for triggered charges.

Cryptocurrency trading is inherently hh risk – markets are volatile and leveraged derivatives such as CFDs only serve to amplify these already large and sudden market movements.

You should always ask yourself if you can afford the risk of monetary loss, and if so, how much? That being said, margin requirements on cryptocurrency CFDs are relatively hh – currently 50% margin but can be increased during times of market volatility. This means that cryptocurrency trading can have costs compared to other markets.

How To Trade Cryptocurrency: A Beginners Guide


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