Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.
Please refer to the table below for more details:
The above data is for reference only, please refer to the MT4/MT5 software for specific data.
If you’d like more information, please don’t hesitate to contact [email protected].
Affected by international holidays, the trading hours of some VT Markets products will be adjusted. Please check the following link for the affected products:
Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.
Please refer to the table below for more details:
The above data is for reference only, please refer to the MT4/MT5 software for specific data.
If you’d like more information, please don’t hesitate to contact [email protected].
Flip, eat, sleep, repeat – such is the degen lifestyle of a forex trader. While majority of people are still debating about on-site jobs, hybrid work or full remote opportunities, degens traders are thriving on market volatility in attempt to tenfold or even hundredfold their small capital, living the dream lifestyle of many.
Or at least that is how social media portray them to be living.
Half the time, these market enthusiasts are glued to their computer screens and following the latest market movements for the next big opportunity.
Opportunity and risks
Even the S&P500 companies would be out of manpower if and only if everyone could easily be a successful forex trader. No one would be interested in a “job” if it is straightforward to achieve such a degen lifestyle.
While social media seems to display that life is great as a trader, the truth is that such lifestyle that demands one to possess dedication in learning and a high-risk tolerance to market fluctuation.
Without any consistent or stable income stream at the onstart, a degen forex trader typically has a super small capital and often has the wildest dream of flipping $100 to his first million. While this is not impossible given that there are endless opportunities in the financial market, traders are often subject to certain challenges that would make or break them.
If a market always stays quiet and flat, there would be no opportunities to for profits to be made. On another end, extreme volatility or swings would either result in a huge fat profit or wipe a trader’s account out.
News and information overload: To follow or not to follow?
Staying up to date in the financial markets is a constant battle. On top of economy calendars, fundamental data, technical analysis and news articles, degen forex traders also tend to receive tips from social media channels such as Twitter.
Not only it is easy to drown in a sea of information, but traders may also struggle to filter or verify the validity of the same. It is no surprise to see some traders would rather just purely rely on technical analysis as their trading strategy instead of trading on news.
Failure of risk management is the highway to hell
Many degen traders are prone to take on excessive risk as they all hope to make money quickly. As such, they often trade in a speculative manner, and further amplify the risk using high leverage.
Let’s use a trade in gold (XAUUSD) as example.
If a trader with a balance of $4,120 decided to short one (1) standard lot of XAUUSD at $2,060 with target price of $2,000, he is using a leverage of 1:50. If things moved according to his plan, he would make a profit of $6,000 on this trade alone. That is a whooping 145.63% on his capital of $4,120 – which is impressive!
However, XAUUSD eventually rallied in the opposite direction, past the $2,100 price level. If the same trader set a stop-loss at $2,080, his position would have been closed with a loss of $2,000, which is quite a painful loss of 48.54%.
Now imagine how can he recover such a sum back? Only if he doubles the trades that he subsequently makes with his new balance of $2,080. Ouch.
Pictured: Financial hell
Worse, if no stop-loss was set at all, his entire account would have been wiped out once XAUUSD moves past $2,101.20. This is exactly how over-leveraging kills a forex trading account.
By setting a stop-loss too far away, not adhering to a stop-loss or not using a stop-loss at all, a forex trader is throwing risk management out of the window. However, managing risk is crucial for survival as a degen trader, as one will need to survive through series of trades before striking a big successful transaction.
In the meantime, one single mismanaged trade can wipe out an entire portfolio, sending all previously made profits back into the market. This is why it is essential to strike a balance between risk and rewards.
Is this degen lifestyle as a forex trader really sustainable?
No doubt the market is a place full of high risks and speculation. Although a retail forex trader cannot control the market, what he can control is his own risk management and mental state in avoiding impulsive or reckless decisions.
With strong commitment in learning the markets and good discipline in managing risks, a forex trader will be able to achieve consistency in his trades. From there, the profits piled over time will generate a significant sum, leading to financial freedom envisioned by most.
Trade 1,000+ assets with VT Markets
Embark on your journey as a forex trader with VT Markets now. With 1000+ assets being offered, ECN and STP accounts, forex economy calendar, academy and analysis being made avail to you, there is nothing to stop you from living the lifestyle you desire. As a new client of VT Market, you can also claim welcome bonus on your deposits. So, hesitate no more, start today!
Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.
Please refer to the table below for more details:
The above data is for reference only, please refer to the MT4/MT5 software for specific data.
If you’d like more information, please don’t hesitate to contact [email protected].
Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.
Please refer to the table below for more details:
The above data is for reference only, please refer to the MT4/MT5 software for specific data.
If you’d like more information, please don’t hesitate to contact [email protected].
VT Markets value your trading experience and funds security. Effective on May 21, 2024, we are implementing Two-Factor Authentication (2FA) verification measures for Cryptocurrency addresses and E-wallet withdrawal methods.
Here’s the recommended 2FA software download link:
Search “Google Authenticator” on WeChat to download.
Important notice update:
To protect the security of your funds, when you apply changes to your personal information, your withdrawal function will be temporarily restricted as follows:
• Changing registered phone/email or 2FA: 48-hour withdrawal restriction
• Changing the personal account password/trading password: 24-hour withdrawal restriction
If your withdrawals are restricted due to the above reasons, please wait for the specified time before re-submitting your request.
Thank you for your patience and understanding about these important changes.
If you have any questions, our team will be happy to answer them. Please send an email to [email protected] or contact our customer service online.
Tesla tends to dominate the headlines in the EV market, but Chinese EV brands could potentially seize the crown.
After Tesla’s bumpy Q3 2023 earnings report, traders and investors are starting to scout around for alternatives in the EV market to park their money. Tesla expanded their revenue by a mere 9% YoY, while earnings per share finished at an underwhelming $0.66 (-37%).
Meanwhile, China players like BYD, NIO and XPeng have all been racking up significant delivery growth during Q3.
With these big boys in the rearview mirror, Tesla will soon lose grip on the Chinese EV market if it continues to fall asleep behind the wheel, pun intended.
Picture: Graph shows some of Tesla’s key rivals in China’s EV market
It’s been quite a showdown in the electric vehicle world lately. When Tesla dramatically slashed prices to attract more customers, other EV automakers quickly followed suit, plunging into a full-fledged price war.
Just a while back, the cheapest version of Tesla’s Model Y SUV was sitting at nearly $20,000 above the average price of a new car in the US. But fast forward to April…that price gap vanished into thin air.
What does the EV price war mean for the world today?
The dawn of EVs, traditional automakers exposed
Cheaper EVs mean more options—maybe even more people making the switch from fossil fuels to electric. Legacy automakers like Ford and Volkswagen are now struggling to keep up with Tesla’s price cuts so they don’t get left behind. They’re seen ramping up their EV production in the catchup phase.
A battery price war kicks off, lowering manufacturing costs
The main cost of an EV is its battery. The steep price of energy-dense batteries has kept EVs pricier than their fossil fuel counterparts.
But here’s the kicker: China’s leading the pack when it comes to lithium iron phosphate (LFP) batteries. These batteries are cheaper, as they have no cobalt. With the growing demand for lithium, CATL has spent $1.4 billion to build lithium extraction plants in Bolivia, adding to a global rush to secure supplies of the battery material.
And that’s got consumers excited…it could mean more budget-friendly EVs are hitting the streets.
Mixed views on EV transition in the US Presidency
The effort to accelerate the US transition from gas powered automobile to EVs would largely depend on who’s the victor of the US election 2024.
Team Biden: Biden’s strategy includes the boost of EVs with subsidies, new emission standards, infrastructure investments, and tax credits, calling it his big industrial and climate plan. He’s been touring assembly lines and battery plants, exploring the possibilities about creation of new jobs.
Team Trump: Trump and his administration are painting a grim picture, especially in auto-centric Michigan, warning of job losses and touting EVs as too pricey, with infrastructure woes, and are not quite up to the same capabilities compared to their gas-powered peers. Also: Are you obsessed with politics? Election years could be profitable for traders like you.
Why traders think Li Auto overtakes Tesla in the share market
Looking for an alternative to Tesla? Here’s one many are eyeing: Li Auto.
Despite some challenges when its Mega model tanked, Li Auto showcased impressive results when it released its August 2023 delivery update. The cumulative deliveries of vehicles in 2023 reached 208,165 as of the end of August, an increase of 663.8% Y/Y and 2.3% Q/Q, with monthly deliveries for each of the three Li L series models exceeding 10,000 vehicles.
And Li Auto was just warming up… the EV automaker exceeded expectations when it released its unaudited Q3 2023 financial results in November, surpassing forecasts with over 105,000 EV sales and a 271% increase in revenue. These financial highlights and growth plans bolstered investor confidence in Li’s market positioning.
The consistent robust performance makes Li Auto an appealing alternative to Tesla for anyone looking to put their money in this exciting industry. For those confident in Li Auto’s trajectory and seeking to capitalise on its growth, CFD trading with leverage can be a powerful tool to enhance investment returns.
That’s why VT Markets’ share trading offers competitive spreads and provides leverage of up to 20:1, allowing traders to amplify their market exposure.
Picture: Li Auto share prices on the rise as seen on VT Markets app.
VT Markets is committed to providing customers with a faster and more stable trading environment. We will upgrade our server from 02:00 -04:00 and 08:00 – 11:59 server time on May 18th, 2024 (Saturday).
Please refer to the MT4/MT5 software for the specific update completion and trading opening time.
Please pay attention to the following matters:
1. During the maintenance period and before the opening of the market, the quotation servers will be stopped. You will not be able to open new positions, close, or adjust any existing positions.
2. There might be a gap between the maintenance period and before/after the trade opening time. Pending orders or stop loss/take profit which is within the gap range will be executed at the market price after the maintenance ends. We recommend you pay attention to your positions.
We hope you understand the inconvenience caused by this upgrade and maintenance, and we commit to providing you with better services.
If you have any questions, our team will be happy to answer them. Please send an email to [email protected] or contact online customer service.
Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.
Please refer to the table below for more details:
The above data is for reference only, please refer to the MT4/MT5 software for specific data.
If you’d like more information, please don’t hesitate to contact [email protected].
