February 5, 2021 Update #2
overview
Welcome back for update #2 I have recently started trading crypto in order to make more more crypto, the end goal short term is 1 BTC, ETH, and BCH I started with an investment of $29 originally. The last article I wrote I was down almost $8.00 and I as of the time of writing this I have made over $100 dollars and counting. I am currently in the midst of trade that is sure to bump that number up for me.
I started trading on January 23, 2021 I have been in the World of Crypto for years now and have always watched traders from the side lines, thinking, I'd like to do that and for some reason, I just never actually done it until now. I am not a financial advisor nor do I give financial advice.
Why I am Trading?
I have seen a lot of so called professional crypto traders whom claim to teach everyone how to make money trading crypto, umm, really? I think if anyone could afford to jump start their Crypto Trading career with a few BTC they'd get it right eventually, right? So, this got me to wondering... Could I take out $30 of my savings in Crypto and leverage that $30 x 20 and increase my holdings without losing my money?
The answer so far is yes! I have made over $140 with over 230 micro trades. I have made some mistakes along the way, I'd say the best advice I have had so far was from the original post I made, a recommendation to up my amount of leverage, I am almost to the recommended amount of leverage now and I see the amount of returns significantly increasing with each trade.
The big goal here is to get a BTC for $30.00 I started with $30.00 and I am working my way up to 1 BTC just to prove that anyone can do it. I will be providing screen shots of the account, if you want to verify my claims and add up the numbers for yourself.
My Mistake, Won't Happen Again!
First off, I don't like making mistakes, especially not financial mistakes. The other day with the XRP Pump and Dump, I had been listening to all of the chatter online, I knew that a bunch of people had been loading up on XRP for days to just dump it all on every one as soon as the pump time hit, every thing was going as I had thought..
I had made almost $40 just longing XRP the whole way up to $0.75 cents and than it happened...boom... the price drops, no big deal, right? Not for me, I had the order set to add margin... That was the mistake that costed me $50.00 I like the liquidation spread on Bitcoin more than on other currencies. with XRP .02 liquidation spread isn't far off from the entry price. I understand the price difference and everything, I am just not okay with the risk.
I am still honestly new in the field of Crypto Trading, I am more than familiar with the stock markets, I made a decent amount of money in 2020 after the stock market tanked, I invested in companies that were majorly undervalued after the dip and I seen impressive returns, however nothing in comparison with crypto alone. I invested $ 400.00 and it just keeps on growing. I invested $25 back in October 2020 and it grew to over $125.00 by January 2021
Next Friday Target February 12, 2021
I want to be leveraging 0.25 BTC per trade by next Friday, I am not really sure what the return rate on trades of that value would be, but I do believe that will get me to my goal of 1 BTC, BCH, and ETH a whole lot faster. Either way it goes, I am going to take the longer road, learn ropes, take advice and hopefully learn from major mistakes with small amounts of money.
My Final Thoughts
I am just enjoying myself as I embark upon yet another journey in life, I love adventure and the thrill of being in a trade. I feel like I am luck enough to have studied the stock markets with a rather successful approach. I have always been one to believe speculation, supply and demand mean more than liquid assets. That logic alone has made my stock market picks winners. You can learn a lot from studying charts.
I feel as if though my passion for crypto has given me a major advantage here. I have been following BTC for years and studying evolving blockchain technologies for years. I am familiar with the way Crypto reacts, I have a great understanding of economics and I understand psychological effects of social media on crypto alone. Speculation, supply and demand...the three main factors in trading Crypto.
After I accomplish my goal I will be having a giveaway! So make sure to follow along so don't you miss out! Thanks for reading, God Bless You, Stay Healthy!
Pictures of the trades I have done.
