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March 04, 2014, 04:21:41 PM |
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Hey all.
I've recently gotten into the BTC and Altcoin markets and I'm excited to get started. Unfortunately while my coinbase account was being verified I couldn't get in on the recent AUR or MZC pumps (Though I have my eye on both of them). Luckily, BTC went up about $100 between the time I purchased the coins and now, so I've already made money. Anyway, I've got about $400 of my own money in the system, and another $2,000 from a benefactor who wants in on the action. If all goes well with the $2,000, I'll be circulating more and more cash around the system- we're talking ten or twenty thousand and up. I can find all the beginner guides and how-to's myself. I'm keeping spreadsheets of trends and market rise/falls and keeping tabs on anything that seems interesting or intuitive. I can identify the "safe bets" and I'm pleased to see the market as a whole is on the rise.
As you probably gathered, I have no idea what I'm doing. None. I'm not a stock broker. I've always been interested in stocks but I just got my first coin yesterday. I'm looking for any tips and advice that anyone has to offer, particularly bits of personal experience that don't show up on guides. Any reference tools you have available (Should I purchase a book on stock markets and study?). I'm also having a difficult time getting the money into coins. I've tried the Virwox route but I can only put $100 through there. Coinbase won't let me continue until the first transaction finishes (We're talking 8 days before it can hit market) and I'm under a lot of pressure to get this out there and move the money now. Mostly because the investor doesn't understand these coins in the slightest.
I'm also having difficulty grasping the Buy/sell wall and how to avoid being manipulated by one. It's the almost-vertical portion of the Depth chart on Cryptsy (or other exchanges), right? Someone who wants to sell places a large buy order that won't be filled just to increase the average buy price, is that right?
Any help you can offer is greatly appreciated. $2400 isn't that much money, but I'm actually terrified of moving around $20,000 of someone else's money and I know I'm in well over my head.
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