Trading is a totally different beast than investing.
Things change by the second sometimes and you can make or lose your entire capital. (I have lost my ENTIRE capital 2 times)
Once in 1987 and once in 1999.
Both times were because of margin calls. MARGIN CAN KILL YOU...
If you want to be financially set their in only one thing i can tell you that will be `golden`
Understand very , very , very , very well. Two things.....
Greed & Fear
These two emotions are what makes a dumb trader and professional.
I NEVER enter a trade based without knowing my enter price,profit exit price and loss exit price.
I never hold a falling stock or currency `hoping`that it will go up. As well I never change a stop loss or limit buy . Unless there is fundamental (verifiable) news.
Some tips I use are:
- Buy on rumor, sell on news..
- always put in a low ball bid in when wanting to acquire anything , (stocks, currency, bitcoins) 30% of the value of the item.
- trade WITH the momentum (IE. the trend is your friend)
- watch TA charts but as a guidance not a bible.
- create a google alert for the item you are buying with google.. google will send you daily news and anything about that item daily real time. has made me more money then you could imagine.
- watch moving average (when they cross)
- understand the REAL value of anything you buy or short. companies have a book value
- UNDERSTAND SUPPLY and DEMAND
- try to find insider information
There are many more things that I can help you guys with but honestly for me to make money i need to make it from you...
That`s the honest truth..
So I need to keep something to myself , right?
I am waiting to see $547 be broken. I have a good feeling that it will happen in the next 72 hours.
But what do i know..?
Maybe it will drop , maybe it will go to $718.66 USD on bitfinex in 1-2 weeks ?
Look for my buy order at $548 for 200 bitcoins.. then you will see if i am full of $hit.
Make YOUR plan and execute it..