I am entering the trading game!
A few days ago, I asked myself if I am Ready to go into the equity playground again?!
I have decided to go ahead. I took action today and put USD 100 into my Etoro account. I am entering the trading game!
Why did I do that?
It is mainly for directing my attention to the prices of the other related markets.
For example, I can now pay attention to BTC prices and SPX500 prices just by opening my phone app every now and then. Not that I can't do that without trading. In the past, I was not keen to note the prices of these assets. The effect is that when Hive prices went up or down after moves in these assets, I was unaware.
Now, I can take my small bets in Etoro as a game, and as I put some small money on it to trade, I will be looking at their prices at the same time. It will take no effort.
The spin-off, I expect, is that I will seek to understand the global financial situation better. All this knowledge will help me in my overall investment strategy.
Do I recommend you to do it too?
No, because there is an emotional part to trading that one needs to grapple with. If you are unable to resist FOMO when there is a rise in prices, or panic when there are dips in the market, you will make all the wrong decisions. So I do not recommend trading.
For me, it is a different situation. I have learned a great deal over the past few months and I feel I am ready to test water.
Furthermore, since I am on Leo Finance, I am expecting my peers on the platform to keep me grounded. Of course, it is up to me to share my journey before others can chip in to share their opinions. The opinions and lessons others share can accelerate my learning in this regard.
This benefit alone, I think, is the beauty and power of the Leo Finance community. We can be free to share our lessons and experience in finance and actually learn how to manage our finance.
Honestly, the reason why I am ready to take the plunge again, is that I want to improve my financial situation through trading. I trust that I will be more measured when making decisions, and thus limit losses; especially after articulating them.
Just like this post!
P/S: This is not financial advice, and please do your own due diligence before investing.
If you read this far... and if you are a like-minded Hiver who is on the path to learning more about Hive and crypto investing, and if you like to be tagged when I write such posts, I welcome you to leave a comment below and let me know. We can form an alliance to support each other's growth.
You might be interested in this post, @thatkidsblack, @graciousvic, @peniel2010, @deflacion, @jacoalberts, @young-kedar, @svanbo, @sumotori, @zakludick, @poplar-22 and @hankanon!
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It's definitely a way to spread risk and in my opinion it's good to keep your eyes open and not get focused on Crypto alone. !PIZZA
I wish you the best of luck bud! It's not a easy game to play 😂 BUT I think you can manage just fine!
Thanks mate!
It's easy to see prices now but I do agree that trading is tough. People need to make sure they have a plan before going in otherwise it's just a gamble. Good luck with the trades.
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Wishing you very good luck for that, it is very risky but I think you can manage it. I appreciate you recommendation we don't have enough knowledge to do it and if without knowledge you do anything that causes lose.
I am taking baby steps! !PIZZA
Yeah of course it is necessary.
I like how you think! Your words have inspired me to test waters as well, and the month of April is the training ground.
I made an eToro account, but trade elsewhere.
US legislation is putting the heat on platforms lately- I saw mentions everywhere.
I’d like to be kept up to speed on your securities journey, especially considering they’re such different assets.
Thanks for responding and taking interest. I have not decided on the equity yet, but I put a small buy order for BTC at 26K, just for fun. !PIZZA
Best of luck, just ensure you stick to your predefined strategies, that gives you much room for growth as though it's easier to monitor what works and what doesn't.
yeah, safety belt on!
This game is not easy hopefully you can play very well and earn some smart profit from your trades. I have alot of money in recent bull market.
$PIZZA slices delivered:
@svanbo(1/5) tipped @cryptothesis
cryptothesis tipped thatkidsblack
cryptothesis tipped tornad