11 Life Changing Reasons You Should Start Trading Now

People from all across the globe consider trading as a high barrier-to-entry profession. They often ask questions like “why should I trade?” “why trading is important?” or “is trading really worth it?” Don’t be anxious and overthink. If you have enough ambition and patience, you can start trading and be successful. And yes, trading really worth a shot. What is better than being your own boss?

• If you have enough ambition and patience, you can start trading and be successful.
• Many reasons can push you to want to start trading.
• Follow down to find whether they are good reasons or roads to chaos.

Why should you start trading?

There are multiple reasons you should start trading now. But 11 of them are really life-changing that can make you turn toward the trading profession. 

1. Start trading today to grow your money

This is the simplest, first, and foremost reason you should start trading today. Trading has the potential to grow 7 to 10 percent per year over the long run. Why start trading? Start trading to add to the money you already have. If you can keep on investing, you can turn a minimum amount into more than millions. 

2. Start trading today to prevent your money from losing its value

Inflation is a big factor that causes your hard-earned money to lose its value over time. Why start trading now? Because you have to grow your money and prevent it from inflation. For example, if you have $10,000 now and when you put it in your locker, its value will depreciate gradually. On the contrary, if you invest that money in trading, you will see your money growing. Isn’t that enough to answer the frequently asked question, “why should I trade?” That is why trading is important beyond imagination. 

3. Start because it promises high profitability

One of the best things about trading is it promises high profitability. Although you cannot achieve high profitability overnight. You have to be patient and disciplined to reach that level but the potential is there. Once you master a profitable trading strategy and understand how financial markets behave, profit potential rises. Is trading really worth it? Yes, it is and you will definitely pick ripe fruit one day.

4. Start because you don’t need huge sums of money to start

Trading doesn’t require huge investments. You can trade with little investment and can grow it gradually. There are a few financial markets where you need fractionally higher initial investment. But, there are some others like the forex market where you can start with a very small amount. 

5. Start because trading can make more than any other business

When you look back at history’s most successful traders and investors, it becomes evident that trading has the potential to make more than any other business. Most successful traders of all time like Jesse Livermore, William Gann, George Soros, etc. made millions through trading. This was all possible because trading brings fortunes when you have the right strategies, skills, and attitudes. 

6. Start because you can diversify

Trading not only makes more than any other business, it allows diversification. You can build and develop a diversified portfolio to spread the odds. With a diversified portfolio instead of a single business keep your risks under control. You have a lot of options in front of you to make money.

7. Start because you can risk as much as you want

Trading suits both types of personality traits in terms of risk-taking, risk-takers and risk-averse. You can risk as much as you want. If you are a bit risk-averse, you can trade less risky instruments like certificates of deposits. On the other hand, if you are a risk-taker and want huge returns, you can invest in other instruments that promise huge returns. Remember, high risks, high rewards. You can also manage your risks through risk management techniques like stop-losses. 

8. Start because of high liquidity

All financial markets are liquid beyond your imagination. That means there will be uncountable buyers and sellers available in a fraction of a second. High liquidity enables traders to make profitable trades whenever the opportunity knocks at their door. Some financial markets like the forex market are even more liquid and there isn’t a risk of a monopoly of a few big players. High liquidity and vast financial markets make it impossible for big players to manipulate prices.

9. Start because win-win scenarios surround you

 There are trends in financial markets that repeat themselves every now and then. Sometimes markets are at boom and prices go up. Some other time, markets face downtrends and prices begin to fall. Uptrend and downtrend often move in a cycle. But traders are always in a win-win situation. They can make profits from rising as well as falling prices. So, isn’t it enough to know why should you start trading?

10. Start because of time flexibility

Time flexibility is also the key reason why you should start now. Financial markets remain open 24/7. That means you don’t have to follow a hectic schedule and commute to work daily. You can trade whenever you want. 

11. Start if you don’t want to follow orders

If you don’t like a job and let others dictate you, you should start trading. Be a boss to yourself and earn a handsome amount of money. Some people can’t work in an environment where others give orders and try to dictate. Such people are not followers and when they are made to follow, they explode. If you are such a person then trading is for you. 

What is Copy Trading? How Does it Work?

Do you want to learn what is copy trading? Or, how does copying work? Then you are on the right platform because we are going to learn all about copying in this article.

• Copy trading is a great innovation tactic for new traders to enter the scary world of trading.
• Although copying doesn’t guarantee success and profits, you can diversify your portfolio and manage risks according to your risk management policy.
• You can also make some money while continuing to learn from experienced traders you copy.

What is copy trading? 

Copying is a new innovative trading tactic. Copy traders do not give funds to the hands of others i.e. fund managers. They simply connect a part of their portfolios to portfolios of master players and copy their trades. It is a good methodology for new traders and investors with no or very limited knowledge of trading. For some critics, it is a case of belief and trust in other professional traders who are experts, knowledgeable and know the trading more than they do. Whatever you name it but the fact remains that copying is becoming more popular especially among the newcomers. 

Copying traders simply open personal trading accounts and then connect a part of their portfolios to other designated traders. Afterward, they automatically copy every move of their chosen traders and replicate those traders’ performance on their personal accounts. 

How does copy trading work?

There are two types of the account involved in copy trading. The guru who makes the trading decisions and the one who follows, the copy traders. Both the guru and the follower must be on a copy trading platform that provides copying services.

Copy traders basically rely on the actions of other traders who they think are masters of the art. For the copy trading process, you always need the platform’s automatic system to copy trade. The automatic system automatically copies all the open trades to your account. Then, you have to choose an amount to invest in a specific trader. However, the chosen amount should not exceed 20% of your portfolio. 

If you like the way your guru trader is making the trades, you can increase your investments. This is how you can invest more whenever a trade is copied. An increase in investment increases your profit but at the expense of more risks. Your losses will be equally high if a trade fails. However, you can diversify your portfolio to manage risk. You don’t need to invest all your funds in a single trader. Just copy trade various gurus when you can easily increase/decrease your investment.

What are the suitable markets for copy trading? 

All types of markets are suitable for copy trading. Stocks, forex, and all other markets are good for copy trading. However, the forex market is so large and offers uncountable opportunities. If you want to enter forex trading but don’t have enough time to learn and gain experience, copying forex is the best option for you. Moreover, it is seamlessly easy to trade in and out of a particular market when copying. You can try different markets to get more exposure and diversify your portfolio. 

The main players of copy trading

There are the following main players involved in the copy trading network. 

The market

It was first introduced and developed in the forex market. Copying stocks also became popular. Now, all other markets have joined the copying arena.

The broker

The indispensable trading partner, the broker, is your companion in copying as well. You need a broker to open a trading account on which you receive trading signals from the trader you emulate.

The trader

The trader you choose to follow is a kind of signal provider in your copy trading endeavor. All the copy trading platforms allow you to observe and evaluate the performance data of different traders. You can select the trader whose trading methodology impresses you.

The investor

You are the investor who follows the signal provider. However, your goals and risk management are the most important elements when selecting the signal provider. 

The copy trading platform

The copying platforms are the facilitators that facilitate copying. There are many platforms. You need to carefully choose a platform as each platform has its own advantages and disadvantages.

What are the pros & cons of copy trading? 

Copying has become extremely popular because of the numerous advantages it offers. 

Advantages of copy trading

1. Copying is an interesting and easily accessible route to enter trading.
2. Copying allows newcomers to start trading without gaining enough knowledge and experience. 
3. It is a good source to learn from experienced traders you emulate while continue earning significant amounts from trading. 
4. Copying allows diversification of your portfolio to manage risks while you can make money in different markets. 
5. Copying also allows you to spare some time for other activities as you have someone monitoring your trades.

What are the disadvantages of copy trading? 

Copying is trading after all. As trading is a high-risk profession, the same risks are part of copying as well. Other disadvantages of it are:

1. It is difficult to choose a reliable trader to emulate. It is up to a copy trader to do the homework before choosing a trader.
2. Copying platforms sometimes cost too much. 

Final thoughts 

Copy trading is a great innovation tactic for new traders to enter the scary world of trading. It is a nice way to begin a trading career. Although it doesn’t guarantee success and profits, you can diversify your portfolio and manage risks according to your risk management policy. Moreover, you can also make some money while continuing to learn from experienced traders you copy. You can stop being a copy trader in the future but in the beginning, no other way is more suitable for beginners with paper trading. 

Revolutionary Ecosystem Developed by Synapse Network Opens up Cross-Chain Investment Opportunities

Synapse Network is developing the first cross-chain investment ecosystem based on blockchain technology. It will offer five cross-chain products for the cryptocurrency sector, including a DEX and DeFi marketplace, saving a lot of time and effort to everyone frustrated with the current fractured landscape.

Trade ETH to MATIC or BNB in Just One Swap

Technology specialist Synapse Network will provide investors with a simple one-stop-shop solution to consolidate their transactions. Compared to a multichain solution, where you need to invest into one of multiple pools – a costly and time-consuming process – it allows investors to allocate their funds in different blockchains, including Ethereum, Binance SmartChain, Solana, Polygon and many other popular blockchains. So investors can trade ETH to MATIC or to BNB in just one swap.

“The cross-chain revolution is the next big step of blockchain evolution, so we are thrilled to be the only player in the market to offer this technology. Cross-chain means you can choose any chain you want, or even several at a time, for any investment that you desire, – Synapse Network Co-Founder Paweł Łaskarzewski”

The ecosystem also includes a chain agnostic launchpad bringing together projects and private investors to enable investment opportunities in early-stage startups, and an accelerator and incubator for startups and entrepreneurs, where ideas are converted into working projects. There will also be an Investment Syndicate of trusted and reliable VC funds, business angels, tech partners, private investors and blockchain projects, providing fast-track access to capital, technology and partnerships.

Why Venture Capital Funds Back the Synapse Network Team

Synapse Network already has a live, working cross-chain launchpad product. It held an early community presale using it, is now listing startups/projects based on multiple blockchains and is enabling investors utilizing the product to invest in cross-chain investments. In addition, it has raised nearly $2,000,000 from venture capital and community funding rounds; current partners include Black Dragon, Dutch Crypto Investors, Moonwhale, Chainlink, OIG, ICO HUB, Crypto Weekly, Minted Lab and CSP DAO.

Synapse Network Co-Founder Paweł Łaskarzewski is a Technology executive and Enterprise
Solution Architect with a demonstrated history of over 20 years of experience in the IT industry. He is skilled in large scale projects with strong problem solving and business development skills, bridging the gap between technology innovation, business, and operations. Paweł has worked for several international companies, including Citibank, EuroSport and B/E Aerospace.

His Co-Founder, serial entrepreneur and investor Michał Domarecki, has founded and run several successful companies internationally in the areas of IT, transport and logistics. He has been involved in cryptocurrencies for over six years, actively investing in and advising blockchain startups and working with brands such as Crypto.com and founding Gems Reviews.

To learn more about the team and the amazing solution they developed visit Synapse.Network and follow them on Twitter and Telegram.

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Argentine Lawmaker Presents Bill Enabling Workers to Receive Salary in Cryptocurrency

A bill has been introduced in Argentina to allow workers to receive their salaries in cryptocurrency. He explained the idea is that workers “can strengthen their autonomy and conserve the purchasing power of their remuneration.”

• Argentina’s national deputy for the Mendoza province, José Luis Ramón, tweeted that he has introduced a bill allowing workers to get paid in bitcoin. He wrote, as translated by Google:

I presented a bill so that independent workers … have the option of receiving their full or partial salary in cryptocurrencies.

• He added: “The idea is that they can strengthen their autonomy and conserve the purchasing power of their remuneration.”
• The Argentine lawmaker said that cryptocurrencies “have been used for a long time, because of the advantages they offer.”
• The deputy noted that “This project was born from our participation in the Knowledge Economy forum some years ago, where we saw the need to solve some problems.”

• Following El Salvador making bitcoin legal tender, Argentina deputy Francisco Sánchez temporarily put laser eyes on his profile picture, tweeting, “I can’t believe it, but this is how it is.”
• Cryptocurrency adoption has been growing in Argentina. In May, a report found that Argentines were increasingly interested in bitcoin, ether, and stablecoins. Ripio Director Juan José Méndez commented at the time that “The pandemic accelerated the adoption of crypto platforms. Today we have 1 million users in Argentina when at the beginning of 2020 we had 400 thousand, and it is a figure that grows month by month.”
• A survey conducted in Argentina last year showed that 73.4% of participants considered that in the current economic scenario, cryptocurrencies are the most effective way to save and protect their funds.
• The full bill can be found here.

What do you think about the Argentine bill to allow workers to get paid in bitcoin? Let us know in the comments section below.

South Africa Regulator Wants Mirror Trading International to Pay Millions as Penalty For Contravening Financial Sector Law

A South African regulator, the Financial Sector Conduct Authority (FSCA), has informed key figures behind Mirror Trading International (MTI) that it intends to impose a fine of $7 million against the now-defunct crypto investment company.

Contravention of Financial Sector Law

According to a July 6 letter, which has also been sent to the CEO and other members of the managerial team, the regulator says its proposal to fine the company stems from MTI’s involvement in activities that it says “contravened a financial sector law.”

The confidential letter’s emergence as well as its leak to the South African media comes just a few days after a court issued a final liquidation order against MTI. Also, as previously reported by Bitcoin.com News, the letter is coming a few months before the court hears submissions from liquidators who plan to argue in favour of having MTI declared a Ponzi scheme.

Meanwhile, the FSCA letter also explains how MTI executives — Johann Steynberg, the CEO, and Cheri Marks in particular — used misrepresentations to perpetuate the Ponzi scheme before it finally unravelled in December 2020. It reveals the various provisions of South Africa financial sector law which were allegedly violated by MTI starting in April 2019.

For instance, the letter suggests that MTI’s first infraction occurred when “trading was conducted in derivative instruments based on forex pairs, through a platform broker named FX Choice.” Concerning this trading, the FSCA asserts that MTI was “not in possession of a financial services provider licence as contemplated in section 8 of the Financial Advisory & Intermediary Services Act 37 of 2002 (FAIS Act).” The regulator also added:

As this was done without a license, MTI was also in contravention of section 111 of the Financial Sector Regulation Act 9 of 2017 (FSR Act).

MTI Misrepresentations

Similarly, the regulator alleges that during the period between August 2019 and October 2020, MTI contravened the same section of the FSR Act after Steynberg claimed that the company had “employed a bot together with a head trader and trading team to make all its trading decisions.”

Meanwhile, in what the FSCA calls the third period — October 2020 to December 2020 — MTI claimed it had “changed its trading activities to trade in derivative instruments based on bitcoin.” This according to MTI meant “it no longer required an FSP licence.” However, the FSCA insists this was not the case as Steynberg’s own submissions to the regulator suggest otherwise. The FSCA said:

It is not correct as the submissions received from Steynberg revealed that the crypto assets were alleged to be traded in the form of a derivative product, which means MTI still required a licence from the Authority. It also means that MTI and its senior management was still contravening section 7(1) of the FAIS Act.

In the meantime, the letter reveals that members of MTI’s managerial team will be afforded the opportunity to make submissions on the investigation report as well as on the proposed administrative penalty. However, if no such submissions are received by close of business on August 6, 2021, the FSCA “may proceed with the proposed enforcement and regulatory action” the letter said.

What are your thoughts on the FSCA’s proposal to hit the now-defunct MTI with a $7 million fine? Tell us what you think in the comments section below.