How do I make my first trade on Tradoor?
Welcome to Tradoor! Let’s set you up to start trading.
Last updated
Welcome to Tradoor! Let’s set you up to start trading.
Last updated
Here are the first three things to do in order to be able to trade on Tradoor:
Start by connecting your wallet to Tradoor. If you need more detailed help on this, please go to our section.
Ensure that there is enough TON in your wallet to pay for fees, and USDT to trade. If you are using Telegram wallet and need more detailed help on this, please go to our section.
If it’s your first time trading cryptocurrency on TON, we recommend you read our “Trading Perps 101” section and “Trading Options 101” section to have a better understanding on how to engage with our product.
Aside from that, here are our recommendations if you are new to trading crypto as a beginner:
(a) Educate Yourself: Resources like books, online courses, and reputable websites can help, but we recommend you read up on this doc, and keep your eyes peeled for our weekly Education Bites that provide bite-sized pieces of crypto knowledge that are taken from commonly asked questions in our Tradoor community!
(b) Start Small: Begin with a small investment that you can afford to lose. This helps you learn without taking on too much risk.
(c) Set Clear Goals: Determine what you want to achieve with trading. Are you looking for short-term profits, or do you want to hold for the long term?
(d) Diversify Your Portfolio: Don’t put all your funds into one cryptocurrency. Spread your investments across different assets to mitigate risk.
(e) Stay Updated: Follow crypto news and trends. Market sentiment can change rapidly, and being informed helps you make better decisions.
(f) Use Technical Analysis: Familiarize yourself with basic chart patterns and indicators. This can help you make more informed trading choices.
(g) Be Mindful of Security: Use Telegram’s two-factor authentication to protect your account.
(h) Control Your Emotions: Trading can be volatile. Remember to take your time, don’t allow your fear or greed to rush you into trades, and make informed decisions - not impulsive ones!
(i) Practice with Simulators: Consider using demo accounts or trading simulators to practice without risking real money.
(j) Join a Community: We encourage you to join our Telegram news channels and follow our Twitter to be a part of our vibrant community! We pride ourselves on being an exchange that highly values their relationship with traders, and does listen and take into account what our traders say.