Contest| Market Masterminds: Cross-Border Trading Insights

Hello guys,
It's another wonderful opportunity for me to share in this wonderful contest organised here by @deepak94 which talks about Market Masterminds: Cross-Border Trading Insights. I will like to share my entry and knowledge about my trading strategies so as to help others who are new to trading and even those who have being finding it difficult to trade effectively.

When we talk about trading insight we are referring to the skills or techniques that you have as a trader which helps you to be successful. There are many traders in the world today but what makes anyone stand out is the ability to trade successfully. Lets see through the questions below as I share my knowledge on trading.

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Share a detailed explanation of their trading strategy

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In trading, I always carry out two forms that is the spot and future trading. In spot trading, I wait and buy the asset when the price is low and then hold it for some period of time and then sell it immediately the price goes higher with atleast 10% increment. This means that I can hold the assets to more than 10% increment depending on the market behaviour.

Another type of trade I do is the future trade. This type of trade deals with predictions and whether the market is going up or coming down, you can still make good profit provided you made a proper analysis of the said asset. So if you predicted that the price will go down and it goes down then you will profit and thesame goes with when you predict that price will go up.

So in my trading, I analyse the asset using key support and resistance level and also use indicators to determine the direction of the market. When I'm certain about the market I enter either long or short and then set a proper stop loss and take profit to protect my account since not all prediction always goes our way.

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Highlight how it works in their local market (e.g., NSE, NYSE, LSE, etc.)

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These strategies works in any market especially the crypto market. Technical analysis and fundamental analysis are two key analysis that are used to ensure that the market prediction is done properly. For the spot trade, you will know when the market gets to its overbought region and when it gets to its Oversold region.

So when you have perform your analysis properly, you will be able to use this strategy in the local market as it also works with the law of demand and supply as it is in real life.

Getting information about fundamental analysis and also about technical analysis can help you to properly analyze any market of your choice and that is why I said this strategy is useful in any market at all.

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Provide insights into how they manage risks and achieve their trading goals

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In trading, risk is inevitable and for that reason as you try to become successful you should also consider failure. Though losing in trading today is kept on check with the help of stop loss or trailing stop. So here I will explain how one can manage risk effectively.

As a trader always trade with just 2% of your portfolio in a single trade and also be sure to set a trailing stop and take profit for your trade. Also the risk reward ratio that you must always use as a beginner is 1:2 before moving ahead to do other things.

So always enter the market when you see a confirmation from the market (structure, indicator & pattern)and also ensure to always have your stop loss usually below a key support or resistance.

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Showcase real-life examples of trades they’ve executed successfully (or lessons from failed trades)

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The chart below is an analysis of the trade I made on a pair of STEEMUSDT on a weekly timeframe which was a long term trade I entered recently. Based on the screenshot you will noticed that I short the market and the market went in the predicted direction.

The analysis carried out was on a demo trade because I wanted to test my trading skills since I keep learning every day about different strategies of trading. So having this market I decided to see if the market will go in my direction.

With these demo trade you will notice that the trade I entered was a successful trade and if I had entered a real life trade where I used good money I could have earn much from the market.

Finally, I wish to invite my friends @dove11, @solaymann, and @josepha to also join this contest today and share their own opinions about this wonderful topic.