Future Trading is simply buying or selling an asset at a predetermined future date and price. In future trade chart/ data analysis is very important, you need to be able to access and analysis your chart properly.
Buying and selling is what trading contain. As long as buying or selling takes place there is trading. And when it's comes to crypto or future trade you most knwk when to buy and when to sell as that is the determinate of your profit or lost making.
My early mistake in future trading was cause by lack of knowledge of future trading, I purchases asset at its highest price which eventually drop and result to losses. So as a future trader you must seat to understand the market move and do a proper chart 📉 analysis.
This analysis should as well contain in it basic consideration i.e the past increase of the coin, it's highest rise and previous chart flow.
THREE (3) BASIC ATTRIBUTE OF A FUTURE TRADER
Every trader must have the following, though it's does not mean you won't possible lost but it's will help minimum if that arises.
Patience
Patience is an important expect of human life generally. Impatience of many traders has put them is losesss and trouble. Market moving up doesn't mean it's will keep up, don't be deceive, take time to seat and analysis the market, with patience study the coin move. Both lowest and highest move of a coin is important in future trade and even crypto trading in general.patience here is simply not rushing trade.Knowledge on Chart analysis
Knowledge is power so we know, as a future trade trader you must know how to run a chart analysis and that requires learning and studying the market properly.
Chart 📈 analysis is the process by which traders study price movement. The theory is that a person can look at historical price movements and determine the possible price. It's has to do with forecasting and analysis of market price flow or move from previous or in the history to determine your present possible price or outcome.
- Risk management
Risk management is very important because considering that you are taking risk to enter a market you should and most know how to manage this risk. Setting your take profit and close loss will help you manage or minimum lost and maximise profit as the case maybe. A trader is not expected to over trust a market or coin when it's comes to risk management stretegy.