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tempted for a few more while its still doable. Could sell what I have and with the profit would buy me a few more but the more I have the more I make and lose.....Still within my comfort zone, oh decisions decisions
At the moment this is putting my time, effort and money I spent on FF to shame
Surprised wrote: ↑11 Dec 2017, 15:02
Just sold a single on IG spread index
Even though I wouldn't buy bitcoin myself, nor would I short it, unless I understood the greed and other elements of crowd mentality, which I don't. Seems to me that the price could go anywhere before demand is satisfied, and it crashes, $20,000, $50,000, $100,000, ???
Making money from this point on will be all about timing, and when something depends on timing you shouldn't get involved unless you REALLY understand what you are dealing with.
Surprised wrote: ↑11 Dec 2017, 15:02
Just sold a single on IG spread index
Even though I wouldn't buy bitcoin myself, nor would I short it, unless I understood the greed and other elements of crowd mentality, which I don't. Seems to me that the price could go anywhere before demand is satisfied, and it crashes, $20,000, $50,000, $100,000, ???
Making money from this point on will be all about timing, and when something depends on timing you shouldn't get involved unless you REALLY understand what you are dealing with.
it's not a great deal of money and I have a stop loss so can't lose more than 1k
Surprised wrote: ↑11 Dec 2017, 15:02
Just sold a single on IG spread index
Even though I wouldn't buy bitcoin myself, nor would I short it, unless I understood the greed and other elements of crowd mentality, which I don't. Seems to me that the price could go anywhere before demand is satisfied, and it crashes, $20,000, $50,000, $100,000, ???
Making money from this point on will be all about timing, and when something depends on timing you shouldn't get involved unless you REALLY understand what you are dealing with.
it's not a great deal of money and I have a stop loss so can't lose more than 1k
Yup, the stop loss feels essential. Hopefully it never comes into play and you make a solid profit.
Surprised wrote: ↑11 Dec 2017, 15:02
Just sold a single on IG spread index
Even though I wouldn't buy bitcoin myself, nor would I short it, unless I understood the greed and other elements of crowd mentality, which I don't. Seems to me that the price could go anywhere before demand is satisfied, and it crashes, $20,000, $50,000, $100,000, ???
Making money from this point on will be all about timing, and when something depends on timing you shouldn't get involved unless you REALLY understand what you are dealing with.
it's not a great deal of money and I have a stop loss so can't lose more than 1k
Yup, the stop loss feels essential. Hopefully it never comes into play and you make a solid profit.
Without the stop loss I'd be a bit too nervous. I don't really care about a big profit as lots of small profits here and there add up and losses can be limited. Happy with 0.5 to 1% average profit per trade as most trades are no more than 3 days and mostly around 2 to 3 hours
Not looking too good so far but even if stop loss is triggered I'll break even on the day
Chucked a bit of money at various coins mid December.
went in for:
Tron
Ripple
Substratum
MIOTA
So far I’ve trebled my investment- I realise it’s all guess work but wondered on here if anyone wanted to exchange information however tenuous it may be.
Future purchases I’ve been looking at:
Fatcom (far too expensive per coin for me)
Maidsafe
Aragon
I like the idea of chucking names out there and everyone then carrying out their own due diligence on the suggestions.
Maybe a fantasy crypto currency game should be started
thelip wrote: ↑04 Jan 2018, 20:18
So let's say a Bitcoin is worth £13k, then how do I invest £100/£500/£1000? Do I have to buy a whole coin?
I have investment portfolios with a couple of stockbrokers and a bank - would they be able to purchase them on my behalf?
You can buy fractions of coins. Not all stockbrokers will deal with them due to the risk but you can always ask your broker. I know IG index deal with them but you don't actually buy the coin with them.
You don’t have to buy a whole coin to start trading, if you want to invest say £1,000 it’ll be converted into a percentage of a coin.
Bitcoin/Ethereum are commonly used as the intial currency to convert to other cryptos.
Ripple is expected to join these big two soon so should gain even more traction due to the increase of its use as an initial currency on some exchanges.
As Surprised says, you buy whatever amount you want to invest in so at the mo, £500 gets you 0.04259126 of a bitcoin.
There are other ALT coins out there as suggested above, Ripple seems to be the flavour at the mo and making big gains, and it's cheap if you want to own a coin and not part. For me, it's all about % growth not the cost of the coin
But with any coin its a risk. Reduce the risk by educating yourself on the coin of choice
Also depends on how long you intend to hold the coin for. As above there are gains to be made by day trading, but if like me it's just a case of buying and lets see how it goes because I have put in what I can afford to loose.
Read about the tech behind the coin, transaction speeds, potential growth, the dev team, all things to consider.
If you do read up on it then you have a better chance of making some money on your investment BUT depending how long you intend to hold.
Last month was crazy, I got in just before it went mad, had gains of 300% at one point and still sitting on a very healthy %, could have cashed out but thats not what I have them for. I see potential in my choice and although it's not increasing, although it did for a few weeks, I can see a better return in the long run.
Watching posts on reddit for the various coins helps, but you have to smell the day traders and bullshit who are in it just to make quick $$'s and ignore the "to the moon" posts. Some are daily trading 20k+ and any small +/- and its a buy sell market. Some guys are making shed loads but are off setting these gains against losses.
Coinbase is a easy platform to buy/sell on aswell as GDAX, although the latter requires a bit more study but it's just the same with cheaper fees.
Also, protect your coin using a wallet, again read up what a wallet is as there are different flavours.
Like FF, you have a better chance of making money if you study what you are getting into.
This, ignore the price of A coin, it's all about the %
For the money I could put into bitcoin, only using this coin as it's the most common coin, not what I have, but the % gains have been better with others. It's quite hard at the moment because with last months volatility there are a number of coins which have potential to take you to the moon....hate that phrase.
read
learn
sit back and watch
choose your moment
only gamble what you can loose
don't get greedy...dont be caught with FOMO syndrome
humility
End of the day, who knows what will happen..education, education education, can't emphasis that enough and no one can predict but you can make educated gambles
Backlash wrote: ↑04 Jan 2018, 20:38
You don’t have to buy a whole coin to start trading, if you want to invest say £1,000 it’ll be converted into a percentage of a coin.
Bitcoin/Ethereum are commonly used as the intial currency to convert to other cryptos.
Ripple is expected to join these big two soon so should gain even more traction due to the increase of its use as an initial currency on some exchanges.
Not sure why we are bothered by 'currencies' invented by dodgy governments when all these digital currencies are just invented by random bods on t'interweb. I'm sure they are incredibly reliable and trustworthy like that nice Mr Ponzi.
PS Anybody want to buy one of my new Britcoins? I only invented them this morning and valued them at £1 each. They have already gone up to £3.71. I'd get on board now if I was you. Just send me hard pounds sterling and I will e-mail you your Britcoins.
murf wrote: ↑05 Jan 2018, 12:33
Not sure why we are bothered by 'currencies' invented by dodgy governments when all these digital currencies are just invented by random bods on t'interweb. I'm sure they are incredibly reliable and trustworthy like that nice Mr Ponzi.
The speaks a man or sheep who knows what he is talking about.