We can both ask this question.
Where do you start with investing and where do I start with helping.
Let me start from the beginning…
Two years ago I really got interested in investing, but it was only with play accounts and not with real money. It was my way of learning how to use charts, and how they work. When you first get into investing, I’m sure your first thoughts are not going to be what time-frame you will trade on or what the support/resistant levels are.
So, I will recommend play trading while following a good mentor before diving into something that is highly emotional. (Winning & Losing Money)
One year ago I created a strategy for trading on the foreign exchange market. At that time I learned about Fibonacci, support/resistance levels, Volume and how it contributes to price levels, and so on.
Something caught my eye and I somewhat regretfully ignored it. However, my trading experience developed, and then 6 or so months later I noticed that something again… Hmm…. Bitcoin and Cryptocurrencies. I was very hesitant still, but in a much better position to risk some money. Best risk I have ever taken!
I was able to afford to lose a couple thousand but at the time I gave myself a limit of $1000.
After a month of studying a few possible investments, I began putting in $100 at a time. It didn’t seem long before I had a $1000 put in and my investment was already worth $1300. Safe to say, I couldn’t resist it. I waited for more buy opportunities to dollar cost average my way in. (Buying Red Candles Is The Hardest Part) We call this buying the dip.
$2000 was my limit and I stuck with that and since then have invested my way to a $15,000. Here’s a quick screenshot at the time of this post.
Transparency will be made with every step. So, if you have questions or something isn’t clear, do ask. This way others won’t get confused also.
Cryptocurrency is a highly volatile market. While mostly unregulated, it easy to fall victim to major downfalls, especially with ICOs (Initial Coin Offering). Even with the famous Bitcoin, the market is known to take 50% drops and months before it increases again.
I personally think cryptocurrencies are here to stay. So, as for media claims of it dropping to Zero,,, Not happening! We have entered a transitional stage and as always there will be winners and there will be losers. One thing I can promise is that I won’t hang out with the losers.
It can take time to get verified with an exchange, so I’d recommend getting that part done right away. You are not required to deposit any money. There are many exchanges to choose from but I recommend the easiest to start off with. I’m a member of 10 different exchanges for reasons I will fully explain in future articles.
Do your research before buying anything. Never spend what you can’t afford to lose. Do more research!
Keep an eye out for updates in the future under the investing category located in the top menu.