So, in the interests of diversifying away from crypto I had begun to invest in the good old fashioned stock market. Nothing against crypto, just when there were profits, it seemed a good idea to spread out the eggs.
Anyway, my only experience with markets of any sort was with the crypto exchanges. So, the real stock market was an unusual experience!
My first observation was that there was a significant buy in for the minimum trade. Wow, this is a real disincentive for little investors. If this had been the case with crypto markets, I would never have had started.
Second observation, you can only buy in whole unit shares! Weird! And annoying!
So, I lined up my first trade. And press the button to authorise the purchase... Nothing.... Still nothing... What is happening, did I do something wrong? Look around a bit in the website, WTF? The stock exchange has opening hours? How the hell do these guys get anything done!
Anyway, after the weekend, my trades went through. I sit down and check them at the end of the day. Seriously, I would be lucky if they moved by more than 1%. Yawn!
Well, that was my experience with the 'real' stock exchange. Very different to the crypto exchanges! Oh well, slow and steady. I've backed some turtles to add to my stable of rabbits!
I agree it is very different. I wish you came to the workshop on stock market investing and trading we had past weekend! Even I - I complete noob - had learned a ton!
But as far as the speed you are absolutely right: cryptocurrency market is very vigorous and seems to be more lively because of volatility of currencies. Which creates the opportunity for trading more frequently.
I am actually so intrigued by the stock market investing and trading right now, after the workshop, that I really want to get a hang of a skill of a good stock market trader.
You are also right about diversification - it is good to keep eggs in different baskets.
I am a bit wary of the stock market. I am all too conscious of the fact that I know very little. Well, I guess that is the most important thing to know....
I did take the advice of an engineer friend who seemed to have done his homework on some mining companies in Australia. So I made some tentative investments there. You have to start somewhere, that's how this crypto thing began.
I do find the stocks interesting, but just too much to take in. Not enough time. I have a friend that is pushing into real estate instead...
I hope I get to share the knowledge I received last weekend in a little while - after I get it perfected through practice with paper trading and back analysis. Give me a few weeks and stick around if you are still interested - I'll be happy to share all I know.
Looking forward to it!
We are doing an crypto trading forum on MSPWaves Saturday at 11am EST if you guys are interested. I will be teaching trading lessons from my years of experience. Can find it on PAL discord channel: https://discord.gg/ZvwASjs
Thank you! I'll tell my bf - he is doing crypto.
I am getting hang of the stocks - just don't want to lose focus. :) Appreciate the invite!
I day traded stocks full-time for 5 years and options part-time for 10. Crypto is sooo much easier right now cus of the volatility. Though, it looks like the U.S. stock market is ready to crack.
agree - the gains can be much higher due to volatility. Crypto is an incredibly vigorous market. I just tend to connect with stocks better due to their longevity.
Also agreed on the stock about to take a plunge. There is a way to make money on a crashing market with options as well if you know how though.
Thanks, I will look in if I'm not having kids hanging off me!
the picture is less supportive with the content
Turtle trading is a trading strategy - I got that in a heartbeat
I was thinking that it was more that the traditional market was a turtle in comparison to the hare that is the crypto. However, I do hope the story goes differently!
The turtle is the old market?