Got me Stuck….CRYPTOCURRENCY!

Sharing a story of how the newbie started the journey from knowing nothing to knowing 20% of the lifeline of the cryptocurrency.

So crypto currency is a big boom now a days. Why? No one knows much about crypto currency but BitCoin is the face of the crypto currency, because as per today’s market it costs Rs.38,43,558.53. Now, if you are damn rich, that means you have the world’s most powerful crypto i.e. Bitcoin.

Sam (fictional character), was very curious knowing that now crypto currency trading can be done in India. She thought she could earn lots of money by sitting at home and chilling with netflix. She would do paper trading, that is note down the market’s price for 10 of the crypto currencies on one of the platforms for trading.

She would check the prices three times a day. General information: Cryto currency trading is available for 24 hours and all 7 days of the week unlike stock market. The crypto currency can be traded from Rs.100 to as much as you can take up the risk. So, now she was not being mean nor greedy. Since this was a new hyped ocean she thought of trying it. She kept doing paper trading for a month.

She noted down enough data, ups and down of the 10 crypto currencies she was following. Now, she realized she is ready to make a change, and jump in the ocean. She realized the pattern of the market. The more the buyers, the lesser the sellers, the prices would be more(Sell Price) but if the vice versa happened, the prices would be lesser.

Now, how she traded is the secret she beholds. The dreams the cryptocurrencies shows, is something that is totally depended on the individual and their risk taking capacity. All I can say is, start from small and make it till the end. The smaller investment keeps your budget intact and even, if there is a loss, you can still keep going along.

The strategy is simple, see the graph, study it, try creating your own analysis, confirm if the understanding held true with the actual graph flow, that is what one needs to do with the paper trading. Once confident, go ahead with the actual investment. Don’t hold the cryto currency for long, because the market is on every minute. People are coming over investing taking profits and moving.

Get along with the flow, make space to earn profit, keep the capital moving, buy one crypto for a smaller amount, see the growth by the 8–10 hours, if there is as minimum as 3% profit, hit the sell button, and keep accumulating smaller amounts. Keep the amount of investment fixed, and I can vouch for it, there would not be a larger loss.

So this is what Sam did, and amazingly, still surviving well in the deep oceanic waters of cryptocurrency.

Happy Trading and let me know, if you make profits via cryptocurrency. I shall be proud of you and be happy if I could be of help.

A wired, confused but hardworking being. Observer and analyst