Guide for beginners for the Ethereum Network Cryptocurrency Store (ENA) and market signals
As the world of cryptocurrency continues to grow, more merchants look for ways to remain in the market. An effective way to achieve this is to combine a technical analysis with psychological ideas known as “commercial psychology.” In this article, we explore the basic concepts of the cryptocurrency trade, focusing on the Ethereum (ENA) network and providing a beginner guide to use market signals to inform your investment decisions.
What is the cryptocurrency store?
Cryptocurrency trade includes buying digital currencies such as Bitcoin, Ethereum or others, in online exchange. The objective is to benefit from the fluctuations of market prices. However, there are natural risks in cryptocurrency, including market volatility, regulatory changes and security threats.
Ethereum Network (ENA) and its meaning
Ethereum Network (ENA), also known as Ether, is one of the most used platforms for encryption currency trade. ENA provides developers the opportunity to build decentralized applications (DAP) while providing an open, transparent and open source for creation and commerce.
The main characteristics of ENA:
* Distributed Administration : The administrative model based on the ENA community ensures that decisions are made with the collective voices of its users.
* Intelligent economy based on contracts : Blockchain -based infrastructure is compatible with intelligent contracts that automate many processes and reduce the risk of errors or fraud.
* High frequency store : The decentralized architecture of ENA allows rapid and efficient trade, which makes it appropriate for high frequency merchants.
Understand market signals
Market signals refer to indicators, pictures and other visual tools that help merchants identify possible trends, patterns and opportunities in the cryptocurrency market. By combining market signals with commercial psychology, you can make more aware decisions about when buying or selling funds based on ENA.
Market signals:
- Technical indicators : Mobile averages, relative resistance index (RSI), Bollinger lanes, etc.
- Graphics : Head and shoulders, triangular patterns, reverse head and shoulders, etc.
- Basic analysis : News articles, financial indicators, company performance reports, etc.
How to use market signals with commercial psychology
Follow these steps to use market signals together with commercial psychology:
- Establish your negotiation objective
: Establish clear expectations for your risk investment strategy.
2
- Evaluate the signal : Evaluate the reliability and precision of each signal source to ensure that it coincides with its commercial objectives.
- Use strategically market signals
: Combine signals with other technical and fundamental indicators to create a complete market image.
- Make your feelings : Keep your feelings under control when you use market signals, as you can be influenced by psychological factors such as fear or greed.
General Challenges and Solutions
* Excessive trust in market signals : Continuously observe and update its signal sources to guarantee precision and relevance.
* Emotional trade : Use technologies such as stop orders, station sizing and risk management to mitigate emotional commercial decisions.
* Market volatility : Keep updated on market trends, news and economic indicators to adapt to changing circumstances.
conclusion
Cryptocurrency trade in ENA requires a combination of technical analysis and psychological opinions. Using strategically market signals, merchants can increase their chances of success in the market.