We can all agree, Crypto currency trading is absolutely 100% bonkers. There are hundreds of coins on offer. Which ones do you buy? Which ones will go to the moon! And which will turn out to be scams!
I'm no expert and like many still learning. So as a novice, I try to consume as much as I can from people that are well and truly in the loop.
For me I've bought and sold Bitcoin and more recently Ethereum over the last 2 years, having not much success if I'm honest. My trading experience has mainly been in Forex and Share dealings.
You may wonder, how can someone not have success trading crypto? It's hard to believe considering the likes of Bitcoin and Ethereum have sky rocketed over the last year.
However, as I was trading it and not holding in a wallet. In the hugely volatile swings, stop losses wiped me out! Still, makes me sick thinking about it.
It was time to learn
Sitting on the sidelines, watching, learning the fundamentals, and studying the markets. I have had to sit tight and control myself as the markets have exploded, but this self-control has put me in a better mental state to trade or to invest.
I have discovered a new world. Mainly in the form of the alt coins.
I feel that the risk is a little lower as the potential gains are massive. We all wish we bought Bitcoin in blah blah f**kety blah.
But we didn't.
So tough luck eh!
NOW IS A GOOD TIME THOUGH 😉
With the many alt coins available there is definitely room for growth and profit.
I bought a few quids worth of
NEO, EOS, BTS, OMG, XRP and BAT
I'll not get into the reasons in this post on each purchase. But I feel these are relatively safe investments.
What I have learned
- Don't let your emotions drive you.
- Be patient, stick to your long term goals, as this is only the beginning with crypto.
- Set investment goals and take your profit or at the very least remove your initial stake.
- Read white papers on new coins or coins you are considering buying.
- Look at the teams behind the coins, do they have experience, what about their connections and know how to take it to market.
- Put coins in a secure offline wallet and be patient.
My advice to anyone sitting on the fence waiting for the right moment.
Just go for it! Even if it's just $10 worth of a coin.
I have an investment plan that I will share in the future. It is about diversifying risk. I will share once I am happy it is working for me.
I'd love to hear your thoughts on my journey, have you had a similar experience, have you just started. Or maybe you have some useful tips or resources you could share.
Please consider upvoting and following, I'm fairly new and plan on sharing daily.
Keep it real Steemers
Derek
https://www.Instagram.com/curious.asia
https://twitter.com/curiousasia
Upvoted Derek, good luck and it seems that you know what youre doing! :) Keep uo the good work.
Thanks, still learning mate but enjoying the ride :)
Keep posting . Enjoyed your post 😸