I got fired 3 week ago and got into depression, one of my best friends is a crypto trader. Instead of feeling shitty he want to teach me everything about crypto and he said that it might help me to understand the normal 9-6 job life is not the only way. here are the tips and resources he gave me:
Research shows that more than 80% of day traders fail in their first year. Almost all day traders suffer BIG losses when starting out, and few actually move on to start making profits. Why? Because they lack the education, experience, insight and have no risk management systems. You wouldn’t sit your grandma down at her first game of Texas Hold’em and expect her to clean up, would you?
Categorize your investments and look at the long picture. In the process of your research, you’ll eventually realize you’re coming across a few different categories of coins. For some of them, you believe they have good teams, great vision, amazing publicity and a track record for successful execution. Great! Put these into medium or long-term holds and let them marinate into a delicious tenderloin. When the price dips, don’t even consider panic selling because anything in your medium or long-term portfolio should remain untouched for a set amount of time. BNB is a good example of a coin Miles considers a long hold. Recently, it dipped 20% for a while, and within our community, we witnessed some sell-offs to preserve investments. A week later, it jumped up almost 3x for a period of time.
Welcome friends, to this one-of-a-kind, masterful analysis, brought to you by the magician of the charts! I’ve got to get this out quick, because the breakdown is starting to happen. You can see that LTC is in a bear flag, after falling out of a triangle formation. The height of the triangle suggest a full potential correction down to the 137.50 area. The height …
This counterparty risk and risk of loss from hackers is another reason why some investors don’t hold their Bitcoin on exchanges directly but transfer it to an independent wallet (which carries its own risks, as outlined above).
“Enjoyed the course! Learned a lot about Charting techniques, still have a lot to learn! The course is well worth the price! It will more than pay for itself over time. Thanks for putting this course together, greatly appreciated!!!”
With a Google Doc, all parties have access to the same document at the same time, and the most up-to-date version of that document is always visible and editable to all parties. This real-time shared Google Doc is just like a distributed blockchain ledger. The “real version” of the transaction is verified by analyzing all the available blocks on multiple computers and taking “the average”.
We are in a growing market; we could be in a growing market for years. There is no need to day trade. There are amazing returns available from finding a good coin with a solid trajectory, finding a good entry point and holding for the medium to long term until you are in profit. You are then able to liquidate some of your positions and find new entry points.
They need to be more save then regular currencies and remain this for a longer period of time. When Ethereum, was hacked which made a damage of around 50 million dollars. It hurt then entire Cryptocurrency world.
Bitcoin has brought a great revolution into the financial world and has changed the way things are done. Bitcoin is an electronic form of currency or simply put, it can best be described as a “digital dollar”. Unlike fiat currency, Bitcoin does not require third parties to confirm or verify transactions.
You can also deposit and withdraw in bitcoin with 0% fees. Please read our guide on buying bitcoin here for more details. For information on depositing and withdrawing using other methods, such as bank wire, CC, Skrill, etc, and any additional information, please read our FAQ here. With the volatility of cryptocurrencies, we encourage all traders (especially new traders) to take caution when trading cryptocurrency pairs.
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Depending on your risk tolerance and willingness to analyze these markets to develop a trading strategy, day trading, or 24×7 trading, of cryptocurrency is very possible. Margin trading offers another option, however recently some traders experienced significant losses when a market sell order caused a flash crash and their accounts were liquidated a quickly declining price. There were buyers who took advantage of the crash through low-priced limit orders and scooped up cryptocurrency cheap.