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Author Topic: Help. Is this possible? Receiving first payment  (Read 256 times)
Pmalek
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April 06, 2021, 09:42:15 PM
 #21

If anybody can suggest a good starting point of some literature or anything where I can learn about trading. Is it as simple as just buying in a dip and selling in a high?
To put it simply, yes it is. But can you recognize the indications that signal a low/high point?

Trading is quite difficult and requires plenty of analysis and time. You seem like someone who has some money to throw around. I am basing that on the fact that you had $13k to invest with a company you knew very little about. Instead of trading, why not set aside a weekly/monthly amount of money, and just purchase a little bit of bitcoin every time? Store that money in a hardware wallet and watch it grow over time. Trading is a type of gamble in the beginning when you don't have the required experience.     

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F30f10g20 (OP)
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April 06, 2021, 10:29:21 PM
 #22

If anybody can suggest a good starting point of some literature or anything where I can learn about trading. Is it as simple as just buying in a dip and selling in a high?
To put it simply, yes it is. But can you recognize the indications that signal a low/high point?

Trading is quite difficult and requires plenty of analysis and time. You seem like someone who has some money to throw around. I am basing that on the fact that you had $13k to invest with a company you knew very little about. Instead of trading, why not set aside a weekly/monthly amount of money, and just purchase a little bit of bitcoin every time? Store that money in a hardware wallet and watch it grow over time. Trading is a type of gamble in the beginning when you don't have the required experience.     

Thanks. Yes that is what I have started to do, I will just keep reading and researching and try to advance my knowledge and skill within every thing crypto. I just feel like I want to eventually get to a more hands-on approach but for now I will just keep buying and stacking Bitcoin and other cryptos. Thanks for the advice I appreciate it.
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April 06, 2021, 10:57:21 PM
 #23

Thanks. Yes that is what I have started to do, I will just keep reading and researching and try to advance my knowledge and skill within every thing crypto. I just feel like I want to eventually get to a more hands-on approach but for now I will just keep buying and stacking Bitcoin and other cryptos. Thanks for the advice I appreciate it.
If you are looking for a way to learn that feels like hands-on then you should try to search for a video that you can watch about trading since you are interested in trading. There are video tutorials that can help you learn or rather gather more information that may help you in your future tradings.

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RickDeckard
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April 06, 2021, 11:27:30 PM
Merited by DdmrDdmr (2)
 #24

I'm sorry that you've been scammed F30f10g20. You should know one simple thing about any kind of investment : If they promise you huge interest rate (like the ones advertised by the scam company you've met) then it is clearly a scam attempt and the only entity that will earn any kind of money will surely not be you.

Just to give you a general idea of a return expected from an "real" investment vehicle such as IWDA - an Exchanged Traded Fund[1] - if we look at the annualized returns ever since the inception of the fund (25/09/2009)  we are showed that it managed to achieve a 10.42 %[2] return. This means that ever since 2009 it provided a 10.42 % return on the investment you made each year in it.

Do you see how farfetched this "200%" gains are from reality? One could say that I've chosen a "simple" investment instrument, and that I could go to more risky ones such as pure stocks and such, but my goal here was to show you that in the "real world" there are no such astronomical gains without any kind of risks involved.

On a second note, do not be in a rush to try to recover from your losses by going heads on in another investment that you seem like not know that much (I'm referring to your sentence "(...)for now I will just keep buying and stacking Bitcoin and other cryptos.(...)"). Consider that you're starting new and that you're deciding on what you should invest your wealth. Assuming that you've worked hard for it, you wouldn't throw it at something just because it has good returns or simply because a lot of people is doing it right? I share this ideal that every investment decision that one takes should be a conscious one, meaning that you really should understand in what you're investing in even before investing on it.

As for Bitcoin and the crypto world, there is a lot of information out there where you could start to "hoard" knowledge from. From the top of my mind here are some that you could use:

  • https://bitcoin.org/en/getting-started - This is a good starting point (or one of them). You get to know what Bitcoin is (in a short way), what are wallets and what do they mean for you, how you can get bitcoin and spend bitcoin.
  • Andreas Antonopoulos Youtube Channel - I think Mr. Andreas needs no introduction for many users on this community, but you can learn a bit about him here[3]
  • https://en.bitcoin.it/wiki/Help:FAQ - Official FAQ from the Bitcoin community from Reddit
  • https://old.reddit.com/r/BitcoinBeginners/ - Most of the questions that will come to your mind most likely were placed on this sub somewhere in time. Just avoid any kind of contact with those sudden DM's that you may receive if you post in there (or any other crypto related sub for that matter)
  • https://bitcointalk.org/ - Last but not the least, this forum is a tremendous well of knowledge regarding bitcoin and everything related to it. Whenever in doubt just hit that search button and I'm sure you'll find something related with your query that some user has faced in the past.

I think you already have a good list of resources where you could start. As always, a rule of thumb is to never give your any kind of details regarding your "crypto life". This means no sharing of your seed phrase to anyone (in a few days I'm sure this word will be familiar to you), no sharing about how much you have invested / how much you hold and always quadruple check the websites that you browse/use to avoid any kind of scam.


[1] https://www.investopedia.com/terms/e/etf.asp
[2] https://www.ishares.com/uk/individual/en/products/251882/ishares-msci-world-ucits-etf-acc-fund
[3] https://aantonop.com/a-about/

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