My crypto journey began in October 2017.....
From an Investment of 10k I am down to about 5K.....Had I not traded at all, I would very likely have 20/25k
A bit dissapointed you would think... Well not really just slightly annoyed at some of my decisions.
I am actually very happy that I did trade... Jumping in the deep end as i did I learned valuble knowledge that will hopefully help me to achieve my goals in the future.
Trading without knowledge made me learn about my mistakes, how professionals trade and the strategies they use and most importantly trading experience. It is trading experience that will teach and help you control and improve your emotions.
I learned and educated myself about both fundamental analysis and technical analysis, candlestick patterns and formations, about trading view as well as learning about margin/levergage trading. I had the confidence to try and move into stocks a few months ago and opened a small stock trading acount with tradenet using many youtube traders of stocks for guidance and education and have a goal of having a larger trading account in a few years time.
I believe you can learn greatly using freely available resources like youtube, udemy,forums, and many many available websites.
You must be prepared to lose some capital for the purpose of your trading journey as most professional traders have done. Many good professional traders become successful after YEARS of learning and trading.
BEFORE you trade with larger account values.. I think the it is essential that you have learned the basics such as having a trading strategy as well as having some understanding of risk/reward.
One of the biggest mistakes I made was trading with my entire account value as new trader.
The account value is secondary to having good trading knowledge, and consistently making correct trading calls in growing your acount as well as having realistic targets. A target of 100% growth anually is an incredible target to achieve, which is just under 3% per week for an professional trader never mind a newbie trader. Thinking long term Is also important, imagine if you can grow your account by 100% anually, how much capital will you have in 10 years
If you can consistantly grow your small account their is no reason why the same wont apply with a larger account as a trader. Preserving your capital is the most important aspect of trading. Never feel like you have missed out or FOMO, as their will ALWAYS be another opportunity to make profit on a
trade if you missed out on something.
Well, I too joined crypto world in October 2017, but I have only invested 10 percent of what you had invested and not traded at all.
Eventually, mine initial investment did ended in dust, as I got scammed I had invested in ICO. After this bitter experience, mine confidence is somewhat shattered and so now I do not invest in ICO's anymore.
Though still in early stage, I had another option available and I turned my attention again on trading, cause I'm already having trading experience as I regularly trade in stock market. But I have to confess that I'm not that good in day trading, so I mostly try to do swing trades that too in very small quantity. This way I'm trying to buildup my portfolio, and any loss incurs would be small.
