People get rich by trading Crypto Currencies
€300,- Is all I am allowed to invest in Crypto Currencies. Thats the limit I've set for myself and as of now seems to be a good one.
Also, earning money takes time, even with trading.
I am currently losing money
When looking at YouTube video's, reading articles and looking at the charts I thought I'd found the loophole in this economy system, the way to make tons of money very fast. Naturally I started looking up strategies, good currencies and a way to trade. Coinbase was my first go to website, Quickfinger Luc (youtube) was my go to strategy guy and good currencies I still haven't found (I think... I... I don't know).
Coinbase seemed to be a safe place to send my money to. It is widely talked about and easy to use. I put €300,- in BitCoin and let it sit there while doing more research. I topped at around €330,- because of the China news and thought it was going absolutely great! About two days later I moved over to GDAX because there are no fees and gives a bit more information. Also the website looked way cooler with all those flashing numbers.
Quickfiner Luc seems to be a nice guy who just wants to share his strategies. When looking at his video's it is convincing it works. In practice it probably does, if you are good at it (obviously). He introduced me to coinigy.com which is now my go to website for charts. I started setting alerts for Bittrex Currencies I liked and tried to predict what would happen after one went of (without putting money in or out). I guess I caught a few good ones.
Finding good Cryto Currencies takes time. Big Coins like Bitcoin and Ethereum are reliable in a way that its hard to lose money (I'm currently down about 2% on BTC/ETH, but expect it to go up). Smaller Coins like Monero, Ripple and Dash are coins I don't fully understand still which makes it risky to trade with.
My one year plans
Using some basic math I calculated that if I started with €300,- and gained 2,5% on half of my money, I'd have €27.259 after one year. (If bitcoin continues to grow the number will be about double that).
If I started with €300,- and gained 2,5% on all my money, I'd have €2.343.604 after one year (I'm not kidding. Math is weird) (300 * 1,025^365).
Especially the first one seemed very likely to happen in my eyes. I was able to find a lot of 2,5% gains in the charts I looked at. I'd finally be able to live where I study and pay all my own bills! Putting it into practice was a lot harder. Using Bittrex now because of the variety of exchanges I started by real trading journey. Every once in a while an alert would go of, I'd have a look if there's something to get there and would take action if that was the case. I've done this about 4 times now and only made money out of one. As of the other 3 it was possible to minimize the losses. This probally doesn't sound that bad, but I am certainly not on my two million euro schedule.
Now
At 25-9-2017 12:24 in the Netherlands I have 0.62756616 ETH, 113.81313985 UBQ and 0.00000031 BTC which is worth an estimate of €293,- . My UBQ is going down eventhough I was convinced it wouldn't (if at 16:00 it is still showing a downward trend I'm selling). My ETH is also going down but I have faith it will go up again after max one day. And BTC is probaly where I should have my money.
I am obviously still in the very early stages of trading. I need a lot more excperience and knowledge to be able to make some nice gains out of this. I will keep on trading until I either lost it all or am a millionair.
Please leave tips in the comments. I need them.
Thanks a lot for reading. I hope you were able to learn something if you are also new to this. If you have a lot more experience than me I hope you had a great laugh. Feel free to contact me for questions and also please feel free to leave some tips in the comment. Have a nice day, no week, or year, just be happy because you are awsome (i mean it)