Introduction to crypto trading for beginners

If you're new to cryptocurrency or trading, you've come to the right place. In this training course, which will continue to evolve over time and with your feedback, we'll try to cover all the points you need to understand cryptocurrency trading in general and using TopBot Anomaly strategies in an automated way in particular.

If you're just starting out, it's a good idea to take your training seriously. is essential before you start, especially with real money. It's very easy to lose money through carelessness, misunderstanding of leverage, poor risk management and so on. We therefore invite you to read this training in detail, take notes if necessary, and validate each step one by one.

Once you've mastered the art of setting up trading robots, it's quick and easy. But before you do, it's vital that you understand every step of the way, every concept, so as to avoid all the mistakes that the contents of this course will help you avoid. We'll also look at how to set up a "Paper Trading" system for your beginnings, i.e. trading with virtual money under real conditions, so as not to take unnecessary risks and to ensure that everything is already well understood and in place before betting with your real money.

Our aim is to make you profitable in automated trading, and we'll guide you step by step. You simply have to do your part by following these courses carefully and meticulously.

1 - Useful links

These links can also be found in the specific parts of the training course dealing with these subjects, and you'll find them here in simplified access.
Each of them offers you significant discounts and bonuses if you sign up for the various services using them.

• Register for Trading-View (15$ credit or over a month free by following this link) : TradinView allows you to track cryptocurrencies and apply automatable strategies
• Register with WunderTrading (30 % on annual subscriptions and 10 % on monthly subscriptions) : WunderTrading is an intermediary between TradingView (which runs the strategy) and your broker (which holds your cryptos and assets). WunderTrading transforms the strategy's alerts into buy or sell orders.
• BitGet registration (Crypto broker: (10 % discount on your trading fees by following this link) : Bitget is the broker we use and recommend. This is where your assets are held and where the actual trading takes place. It's the platform where your real money resides. 

2 - Introduction to cryptocurrencies and trading (for beginners)

Welcome to this comprehensive training course on automated crypto trading. If you already have trading experience and use TradingView, you can skip this chapter.If not, this is where it all begins in your discovery of the wonderfully profitable world of cryptocurrencies and especially automated trading.

What are cryptocurrencies?

Cryptocurrencies are digital currencies that are powered by a technology called blockchain. They are not dependent on any central bank and enable direct exchanges between users, without intermediaries. The best-known is the Bitcoinbut there are many others.

Unlike other stock market assets, which are shares in the ownership of real assets (stocks, for example, are shares in the ownership of a company; gold, wheat, are quantities of ownership of these assets), cryptocurrencies are purely a digital monetary procession. They gain in value when the number of buyers increases, and lose value when the number of buyers decreases. Cryptocurrency is a store of value based on trust, the more people believe and invest in it, the more its value increases. 

Who holds cryptocurrencies and what types of investments are possible?

There are two main ways to profit from cryptocurrencies.

• Owning and holding cryptocurrencies yourself: Cryptocurrencies are exchanged via the blockchain, a vast network of decentralized computers that use encryption keys to uniquely authenticate each transaction. Anyone can create a wallet, the equivalent of a bank account (without a bank) to which cryptocurrency can be sent. This wallet has a digital address, and anyone with this address can send funds to it. The operating conditions of the blockchain make it tamper-proof, especially for assets such as Bitcoin, which means it's impossible for anyone to hack into an account or dispose of your cryptocurrencies without the appropriate access keys. This personal wallet is usually held on a physical USB key, which adds an extra level of security, and the account holder must keep his or her access keys safe in order to be able to access his or her cryptocurrencies again. The advantage is that no one else - not a bank, not the state, not a hacker - can access your assets, for whatever reason (this is one of the reasons why cryptocurrencies are a "store of value"). The disadvantage is that if you lose your access keys, no one will be able to help you, and your cryptocurrencies will be permanently lost and inaccessible. Owning your own crypto-currencies is therefore a great way of securing your assets, and is ideal for create a store of value and invest for the long term by buying and holding assets until they appreciate in value. Trading from a portfolio, however, is not very fluid and comes at a price. Holding your own assets is therefore a good solution for long-term investment or value protection, but is not suitable for trading, which is what we're going to talk about.
• Use a broker that manages and holds our cryptocurrencies A broker is the equivalent of a bank. The most famous is Binance, but there are many others on the market. The role of the broker is to hold your crypto-currencies for you, and to give you simple access to their purchase, sale and call/sell options (FUTURE trading), enabling you to speculate (trade) smoothly and at low cost. The disadvantage of a broker is that you don't own your assets (like when your money is placed in a bank), but the major advantage is that it gives you fluid access to trading, and if you lose your password, you'll have someone to help you. When it comes to trading (and especially day trading, which is what we're going to be doing), using a broker is essential, as it would be too complex, time-consuming and tedious to do things any other way.

What exactly is cryptocurrency trading?

Trading consists in buying an asset when its price is low and selling it when its price is high, thereby pocketing the difference between the two. In its FUTURES version, which we're going to use, it consists of "betting up or down" on an asset, but the principle remains the same.

So a trader looks for a way to to make the right bet because if he thinks the price is going up and the price goes down, he loses money, and conversely, if he thinks the price is going down and the price goes up, he loses money too.

The art of trading is therefore to find ways (strategies) that enable you to earn more often and more than you lose. Note that 90% of individual traders lose money because they lack the right strategy, the right understanding and the right tools. Here's why the process you start here is so important: having the right tools, the right strategy and the right skills is essential for anyone who wants to be profitable and trade cryptocurrencies successfully.

What is automated trading?

There are two ways to trade:

• "This means monitoring the markets, making forecasts based on one or more strategies or indicators, and placing buy or sell orders yourself at the right moments. The biggest drawback of this way of trading is the time and availability required so the psychology needed to avoid acting on emotion. Manual trading, in this respect, is very difficult, and it's easy for a beginner to lose a lot of money quickly, or simply to be overwhelmed.
• Automated trading: It accounts for 90% of professional trading worldwide, and for good reason, it wins hands down in many respects. Automated trading is based on the use of a strategy, a program with defined conditions, which monitors market trends in real time, waiting until the buy or sell conditions defined by the strategy are met and then places those buy or sell orders automatically. The advantages are: the freedom of trading on your own, the ability to backtest your strategies on past data to statistically validate their profitability, and the absence of psychological bias or the risk of losing everything because of your emotions. This trading mode, which is the one we use and which we share with you here, wins hands down compared with "human" trading, which is time-consuming and a source of stress and difficulty.

TopBot Anomaly means trading strategies and "winning formulas that have been developed to automate and search for the right conditions to buy or sell at the right time.

3 - Introducing automated trading tools

To carry out automated trading, we need :

• A strategy (and even a good strategy, i.e. : cost-effective, stable, predictable) : TopBot Anomaly offer
• Good risk management (the amount of money risked in each trade, the number of assets traded on the same account at the same time, capital management and leverage): This is one of the points we're going to teach you during this training course.
• Trading software to run the strategy: Our strategy is coded in PineScrip for TradingView, and we'll be talking about this software in more detail later.
• A trading intermediary (circumventable in some cases, but almost indispensable for any serious trader who really wants to make a living from trading). We'll be using WunderTrading, which acts as the link between your strategy and your broker.
• A broker, the equivalent of a bank, which holds your assets and allows you to bet up or down and make your trades. For us, Bitget will play this role.

TopBot Anomaly (LITE or Pro)

Arguably the best automatable crypto strategy you'll find, especially if you apply our setup and implementation tips. It's the one that will statistically decide when it's wise to buy or sell our crypto currencies. It runs on TradingView, which we'll be talking about shortly, and is available free of charge for the LITE version and by subscription for the Pro version.

TradingView: Trading software to keep our strategy running

TradingView is the biggest trading software player on the market. It provides immediate access to the real-time price of any asset (cryptocurrency or stocks or other) and, above all, the ability to use indicators or apply strategies. An indicator is a mathematical analysis formula used to describe certain aspects of market movements, such as volume (the quantity in value traded at a given moment) or volatility (the rapid variability of the price, its "oscillation"). A strategy is a more complete coded script, who uses indicators but also makes buy or sell decisions.

With TradingView, you can track market prices and apply indicators or strategies. and receive alerts at selected times. 

TradingView has a free plan that allows you to try out and use TopBot strategies, even if for a trader wishing to make a living from trading, the possibilities will quickly be limited. In the chapter on TradingView, we'll look in detail at how to sign up and the basic functions we need to apply our strategies.

WunderTrading: Bots creation software and an intermediary between our strategy and the broker

Once our strategy is running on TradingView, it sends alerts when it's time to enter or exit a position. These alerts, these "Momentums", need to be converted into real, concrete buy or sell orders on our broker where our money is: this is the role of WunderTrading, our intermediary and bot creation tool.
WunderTrading, which we have been using for years with great satisfaction, offers several advantages:

• It can be used to create an unlimited number of bots based on your strategy (depending on the plan you choose).
• It allows us to link our strategy to many different brokers (including BitGet, which we use) and many different accounts on the same broker (which can make it possible to set up several accounts with separate strategies or to apply the same strategy to several different accounts, for customers, family or friends, for example).
• It offers the possibility of "Paper Trading", i.e. programming bots under real conditions but with virtual money. Ideal (or even indispensable) when you're just starting out in the world of trading, to get the hang of it and check that everything's in place, and thus avoid losing money foolishly.

Our strategy on TradingView will then send a buy or sell order to our bot on WunderTrading, which will transform this order into a real trading order on our broker, including the desired quantities and conditions. Thanks to this tool, we can configure a wide range of bots, including on the same account on our broker and thus smooth out risk and increase profitability.

In the chapter dedicated to WunderTrading, we'll look in detail at how to register, and the basic operation we need to apply our strategies and program our first bots.

BitGet : The broker

A broker is therefore the equivalent of a bank, holding funds that we have deposited with it and allowing us to exchange them for cryptocurrencies. For European residents, Bitget offers many advantages, including very low trading fees (0.05% for each transaction, and even less when sufficient volume has already been traded), access to the leveraged FUTURES market (more on this later) and USDT, a "stable" cryptocurrency indexed to the dollar, which gives us a base currency for our account without having to use "legal" money again (or risk being taxed for each transaction). Bitget offers numerous bonuses and advantages on registration, the possibility of creating several sub-accounts to diversify our strategies, the ability to create several APIs and, icing on the cake, a user-friendly, simple and intuitive interface. We recommend BitGet, but it is possible to use another broker, if you already have one that suits your needs, for example, as long as it is supported by our WunderTrading intermediary (the list of compatible brokers can be found in the chapter dedicated to it).

4 - Generate real passive income

Making money through trading, and even more through automated trading, is the dream of many. This goal is relatively easy to achieve if you have the right tools and knowledge. This is what our training is all about, and the extraordinary tool represented by our TopBot Anomaly strategy.

To become profitable, it is important for a beginner to gradually learn the following points:

• Understand how strategy, software and settings work.
• Understand portfolio management, "Money Management" or, in other words, the profit/risk ratio that is always present in trading, so that you can plan your actions as effectively as possible.
• Know the right settings, the right applications and the risks to avoid.

All these points will be covered in this course, and the "Paper Trading" function, which allows you to start with real money (and is highly recommended when you're just starting out), will enable you to validate your learning and set-up before trading with real money, to avoid unnecessary losses like most beginners who don't take the time to train or test their investment plans and strategies. In trading, we mustn't trust our "intuition", but rather a statistical and mathematical plan that frames risk in a rational and reasonable way, undoubtedly the most important key to our future success.

About the price of the various toolsWhile it's possible to get started almost free of charge, you'll soon find that it's worthwhile taking the options that will enable you to really put your trading plans into action. Trading software costs a certain amount of money, but when compared with your potential earnings, this sum is ultimately derisory. A good tradesman needs the right tools and the right equipment. you won't make any serious money by refusing to spend what it takes to give yourself the means to succeed. You'll only join the 10% of profitable traders if you give yourself the means to do so, and all these means are presented to you in detail, step by step, throughout this training course.

If you have no trading experience whatsoever, we advise you to apply the paper trading strategies for at least a month, and then, once you've established your profitability with paper trading, to switch to a real account. You should also be careful about bet sizes and leverage, which we'll cover in detail below. In conclusion, be methodical and don't be "too greedy" right away, and you'll build up a secure competence and reach your profitability target without unnecessary losses, liquidated accounts and avoidable disillusionment.

5 - Some important trading basics

In this chapter, we'll discuss and define a few basic trading concepts that will get you started. The concrete parameters for implementing TopBot Anomaly strategies will then be discussed separately and detailed in their respective modules.

An asset

An asset is a stock, bank or physical security that can generate returns and has value. In our case, when we talk about assets, we're talking about cryptocurrencies.

The market

The market is the interaction between buyers and sellers of a particular asset. It is this continuous interaction that determines the price level of an asset. Simply put, if there are more buyers, of people wishing to buy an asset than those wishing to sell it, the price rises. If there are more sellers, of people wishing to sell their cryptocurrencies than buyers, the price drops. The marketplace is the place, physical or virtual, where these exchanges between buyers and sellers take place. In our case, the broker will be our marketplace.

Market trends

The trend A market's uptrend corresponds to the fact that, over an average or long period, the asset's price rises or falls overall. This is referred to as an uptrend or a downtrend.

Trading

As we've seen, cryptocurrency trading is all about profiting a price difference (advantageous) between the moment of purchase and the moment of resale of an asset. There are several types of trading, often defined by their temporality or background analysis:

• Day trading: This is the type of trading we'll be practicing together. It involves opening or closing positions in the same day (exceptionally one or two days) to make the most of volatility (successive rises and falls) of an asset.
• Scalping: Scalping is an even more aggressive trading style than day trading, based on the principle of holding positions for only a few minutes, sometimes less, trying to recover small price differences and multiplying trades.
• Trend trading: Trend trading is based on medium- to long-term analysis of a market, a project (a cryptocurrency in particular) and the general, macroeconomic conditions of a market. This type of trading, unlike technical analysis(which relies solely on price analysis at a given point in time) requires general knowledge of the various crypto projects, as well as a keen eye for international news, in order to detect in advance a price rise or, on the contrary, a price fall on a given asset.
• Swing trading (TopBot Anomaly Pro version) Swing trading, sometimes very close to trend trading, in our case means always have an open position, either an upward or a downward bet. Depending on the conditions it detects, the strategy simply reverses the direction of the position.
• Algorithmic trading: Classic or high-speed, it's all about using programs and strategies to automatically execute trades when market conditions are right. That's what TopBot Anomaly strategies and this training course are all about.

In conclusion, this training course will teach you how to set up a algorithmic day trading or swing trading depending on the options you choose.

The SPOT market and FUTURES trading

We won't go into detail about the theoretical workings of the futures and cash markets, and will deliberately simplify the subject in an applied and pragmatic way.

There are two main ways to trade:

Visit SPOT market means a purchase of an asset at a given price at a given time. If you buy Bitcoin today in SPOT, Bitcoins are credited to your account and you hold them until you sell them. If you sell them for more than your purchase price, you earn the difference. However, you can't "bet down" because you can't sell something you don't already own. The SPOT market is a good solution for medium- to long-term investment, because you actually buy assets, and once you've bought them, you don't pay any fees. for their retention over time. The commission on buying or selling will be a little higher than on the futures market, however.

The FUTURES market corresponds to a "futures market" financial arrangement. In practical terms, this means that you don't actually own an asset, but that.., during a given period, we will bet upwards or downwards on the value of this asset. If the price goes in the direction of our bet, we make money; if it goes against the direction of our bet, we lose money.

The FUTURES market is the most suitable for our type of trading for several reasons:

• It allows you to bet on the upside AND the downside (you can virtually "sell" an asset you don't have).
• It allows you to use a leverage effect (see below) and thus virtually increase the amount wagered.
• Transaction fees are lower than for SPOT trading

Its two disadvantages are: You don't really own your assets, and fees are charged on positions opened every six hours. These fees are low and don't pose a problem for the day trading we'll be doing, but they can become problematic for long-term trading.

Liquidity

Visit liquidity of a market corresponds the volume of money available around the price at which we wish to buy or sell. Indeed, if we want to buy at a certain price, it means that there must be a seller in front of us. which sells at this price the quantities of the asset we wish to buy.

In this example, we see the order book of Bitcoin on BitGet at any given time. This allows us to see how much liquidity is available. The price "displayed" on the chart is the price in white in the middle. Values in green correspond to the price level to which liquidity reserves correspond or in other words, sellers ready to sell. In this example, it will be possible to buy 11,080 Bitcoin at 90 410.8 $, 22,179 Bitcoin at 90 410.7 $, etc.

If we wanted to buy a lot of Bitcoin at once, our purchase price would therefore not be the "posted" price, but the sum of the price and the available liquidity. 

On assets at low capitalizationwith little real money invested by traders, liquidity is sometimes very low which means that if we want to buy a lot of this asset at once, the actual price we'll pay will be more expensive than the price displayed in real time, because we'll have to accept different price levels, depending on the amount of liquidity available.

On high-capitalization assets, such as BitCoin, there are far fewer liquidity problems, i.e. the volumes available for buying or selling are large enough to ensure that the final buying or selling price is close to the posted price, even if large sums are bought or sold all at once.

If liquidity is not a notion that will influence your trading much at the beginning, as long as you bet small sums (because there will always be enough liquidity for a few hundred euros), Checking the available liquidity of an asset will become indispensable when your bets reach large amounts. because if liquidity is insufficient, your actual purchase or sale price may end up being far from the advertised price.

Visit volume and the available liquidity generally work in tandem. Volume is the quantity of an asset traded in a unit of time. The greater the volume, the greater the liquidity available, although the two notions are not directly correlated.

Finally, cryptocurrency liquidity depends on the broker you trade with. In fact, each broker operates like a sub-market. Some brokers will have high liquidity (BitGet, Binance, etc.), while others will have very low liquidity, making it difficult to trade large amounts in a predictable way.

As a beginner with a small trading account, you don't need to worry too much about liquidity, but in time, when your bets reach four or five figures, it will be essential to check that the necessary liquidity is available on the asset you'll be trading, otherwise you'll end up buying and selling at prices quite different from those forecast by the strategy, and thus making a loss.

To quickly determine liquidity, an indicator exists:

The spread

Visit spread in trading is the difference between purchase price (bid) and the selling price (ask) price of a financial asset. It represents the implicit cost of a transaction and can vary according to market liquidity, volatility, or the type of financial instrument. A low spread indicates a liquid market, while a high spread may signal low liquidity or high volatility.

In TradingView, the top left of your chart shows the buy price in blue, the sell price in red and the spread between the two. The "displayed" price is therefore an average price between the real possible buy price and the real possible sell price, and the difference between the two is called the spread. The lower the spread, the more capitalized the asset and the larger the broker. A very high spread is to be avoided, as price variations between the posted price and the purchase price can sometimes reach 5% or more! Needless to say, under these conditions, your theoretically profitable trades will no longer be profitable.

The broker's commission

The broker's commission is the broker's payment. The broker deducts his commission from every transaction (every purchase or sale). The commission depends on the broker and the type of market (SPOT or FUTURES).

It is essential to take costs into account when implementing our strategy.. Indeed, even if these fees are quite low (0.05% or even less on BitGet in FUTURES), they apply to each transaction and can end up representing significant sums which could distort the real results of our strategies if they weren't taken into account. Rest assured, TopBot Anomaly strategies already include interest. and an average spread cost in their calculations. So, unless you're trading assets with an inordinate spread, the results you'll get in real life will be very close to those obtained in backtesting. By default, the value of commission + spread included in the strategy is 0.13% per transaction (0.05% fees + a deliberately exaggerated average spread of 0.08%).

Be careful: some brokers (such as MEXC) offer you charges to 0% but actually have very high spreadswhich is another way for the broker to get you to pay, but this time without predictability and without the need for you to pay. you have more to lose from a high spread than from known fixed costs. Once again, don't look for the slightest saving without looking at the details, because nothing is free and a broker must necessarily finance himself, which he will do. So it's better to choose a broker with volume, a contained spread and reasonable fees, so that your trading goes smoothly, is predictable and corresponds to the implementation of your strategy, rather than a "false economy" that will actually cost you a lot more.

Stable coins (for us, USDT)

Stable coins are cryptocurrencies indexed to an official currency. USDT is the most widely used stablecoin, although it has been temporarily suspended in Europe pending further validation by regulatory bodies. USDT is therefore a "dollar-equivalent" cryptocurrency.

In cryptocurrency trading, it's always cryptocurrency pairs that are traded. So, for example, we'll talk about a price for BTCUSDT, i.e. the price of Bitcoin (BTC) against the stable coin USDT.

USDT will be our reserve valueour capital base. Between trades, our capital will be held in USDT pending the conditions of the next trade, and in this way it will not suffer from the high volatility of the cryptocurrency market. When we open a new trading account, we buy USDT (which is a cryptocurrency) with legal tender and temporarily exchange it for another cryptocurrency while we're trading. When we close our trade, we get our funds back in USDT until the next trade.

If we bought bitcoin directly with dollars or euros, we would be taxed on each and every one of our transactionsThis would make short-term trading impossible. So, as the exchange of two cryptocurrencies between them is not taxable, holding our capital in USDT and not in FIAT (legal tender) means we're only taxed once, when we convert our USDT back into Dollars or Euros. 

LONGS and SHORTS in USDT-M FUTURES trading

So we've seen what FUTURES trading is, different from SPOT trading, and now we've seen what USDT is. Trading in USDT-M FUTURES is simply the futures marketplace for cryptocurrency pairs whose stable-coin base is the USDT.

In FUTURES, instead of buying an asset, you will LONG or SHORT bets. This means that, instead of "buying" and then "selling" a cryptocurrency as in conventional SPOT trading, you will "open a position on the upside" or "open a position on the downside". By the time your position is closed, you'll have made money if the bet went as planned, and lost money if it didn't. The principle is actually quite simple.

Leverage in FUTURES

BitGet (and other brokers, but the choice is very limited for Europeans due to regulations) allows you to apply leverage on our bets. A leverage effect is a multiplying factor which is applied to our bet when opening a LONG or SHORT position.

So, if we bet 100 $ with leverage x1, that's 100 $ that will actually be played. If our up or down bet is successful by 5%, for example, we'll have 105 $ (minus some fees) when we close our position, and if we lose by 5% at the close, we'll have 95 $ left (minus fees).

If we now apply leverage x2 and bet 100 $, the equivalent of 100 $ x 2 = 200 $ will actually be at stake. If we keep our example of a win or loss of 5%, at the end of our trade we'll have 110 $ if the bet was a winner, or 90 $ if it was a loser.

Leverage allows us to "play" as if we had more capital, with the broker acting as a financial lender during the transaction. Attractive at first glance because of the idea of a faster gain, it is also a source of faster losses, and a source of greater risk. must be used with great understanding and moderation. As a general rule, unless you know exactly what you're doing, we don't recommend leverage greater than x2. Even x1 leverage is preferable until you are sure of your set-up. That's right, there are always losing trades in trading, even with the best strategy in the world because our profitability is based on statistics and probability, not on ineffability. Anticipating these losing trades is therefore essential, and be aware that with leverage x10, 10% of loss on a trade means 100% of capital loss... So don't be too greedy when using leverage, and be careful when setting it up.

Liquidating a FUTURES account

As we've seen, in SPOT, you buy and hold a cryptocurrency in your account. If its value drops by 10%, you therefore virtually lose 10% in value (but you continue to have the same number of that asset that have just lost value). So, in SPOT, a crypto asset you hold can never lose 100% of its value, and your account can never actually fall to zero.

When it comes to FUTURES trading, and in particular the use of leverage, your account can be fully liquidatedIn other words, the broker will get all the money back when his loan (the use of leverage is a loan) can no longer be covered.

In the examples below, we'll talk about liquidated positions (in isolated margin, as we'll see in detail in the training course), which means that the amount wagered on each position entry will be lost. If your bet corresponds to 100 % of your capital, your entire account will be liquidated (and not just the initial bet of the position that exceeded the acceptable loss thresholds).

Here are a few examples (not including fees):

• If you open a LONG position with x2 leverage and the price goes down instead of up by 50%your position is liquidated
• If you open a LONG position with x10 leverage and the price falls instead of rises by 10%your position is liquidated
• If you open a LONG position with x20 leverage and the price falls instead of rises by 5%your position is liquidated
• If you open a SHORT position with x2 leverage and the price goes up instead of down by 50%your position is liquidated
• If you open a SHORT position with x10 leverage and the price goes up instead of down by 10%your position is liquidated
• If you open a SHORT position with x20 leverage and the price goes up instead of down by 5%your position is liquidated

With x1 leverage, it is almost impossible to liquidate LONG positions (the price cannot fall by more than 100%), but it is possible to liquidate SHORT positions, even with x1 leverage, because the price can increase by more than 100%

Make sure you understand this section before continuing, as it will be essential to your risk management choices. Liquidation through excessive use of leverage is probably the leading cause of total account losses for untrained or unaware traders.