It's basically about trading currency pairs (NGN/USD, BTC/ USDT and so on) online on an exchange. For example, I use Binance exchange (the bank in this case). Just like the way you exchange naira for a dollar at any bureau de change but here it's done online and represented as USD/ NGN for example.
So you can trade multiple currencies e.g EUR/USD, GBP/JPY e.t.c We have about five (5) asset class now - Forex market, Derivatives (Futures & Options), Cryptocurrency market, and the Stock market. It's all about buying and selling currencies. Buy low, sell high, Repeat.
Yes! There's something called leverage trading literally meaning "borrowed money" but in this case, it's a functionality provided by the Binance exchange. Binance exchange provides you with the capacity to open a position with more money than you have in your binance futures wallet. For example, if you have $100 and binance exchange provides you a 10x leverage, this means you can trade with up to $1,000 ($100 x 10 = $1,000). But it is always advisable to never to use all your balance to go long (i.e. open a position) You use 1% - 10% of your wallet balance depending on your financial capacity.
Jesse Lauriston Livermore (1877–1940) was an American trader who successfully shorted the 1929 market crash, building his fortune to $100 million. There are traders that have more than $3,000,000 portfolio and are capable of making $100.000 daily. One can make as much as $1,000,000 or more in one year depending on your equity and trading strategy. Trading has made a lot of billionaires. Check out the trading courses page
Money made from online trading can be withdrawn as simple as what's obtainable in a conventional mobile app banking. You can make transactions such as pay your bills, recharge your airtime etc. Watch out for my video dropping soon that will guide you on how to do this.
To start with, always remember that in every business, there's a risk. The ultimate risk here online trading is liquidation, if you don't have enough equity, Binance will liquidate your positions, and you would lose all your wallet balance. The best mitigation strategy against liquidation is having enough equity or not trading with more than 10% of your portfolio. Another mitigation strategy is "stop-loss" this triggers at a price that you set, think of it like data usage limit on your smartphone.
No! We have short and medium to long term traders. And there are trading strategies fitting for all types of traders.
1. Scalping: this is a short term trading strategy where a trader scalp profits from daily fluctuations of prices.
2. Swing trading: this is a medium to long term trading strategy where a trader buys low---> and sells high & sell high ---> to buy low ( in order to have more quantity of the assets)
Yes you can. I have several products I will be introducing to you. They are basically for those who don't have the trading knowledge.