I gave a complete beginner $100 to daytrade crypto

I gave a complete beginner $100 to daytrade crypto

By MadMaxx | Psycho Crypto | 4 Jan 2020


Tip this post if you enjoy it!

So I gave a complete beginner $100 to daytrade crypto.

This person has absolutely no experience trading crypto whatsoever.

But I wanted to see if luck plays a bigger part than experience and TA.

And boy, was I wrong!

Read on to find out why I was wrong!

So the rules were simple.

I gave the money to the person, and he was to return it to me with profits. 

The profit could be as little as a cent or as large as 300 dollars!

It didn't matter. 

All I wanted was profit.

And we used Luno, a crypto trading platform that's great for beginners.

It offers OTC buying and selling of crypto with 1% fees, the lowest OTC fees you can find right now.

How did it turn out?

Well, the person knew that you must buy low and sell high.

The problem was: where was low, and where was high?

He had no idea how to look at graphs!

So he watched the price, and noticed that it was falling back to a particular level frequently.

He decided to buy at that price.

And sell when it reached a little greater than 1% in increase(to offset the fees)

He did this for a while, and the $100 became $120 after 1 week!

Amazing!

This isn't to say that you should discard TA.

But luck does play a role.

Thanks for reading!

How do you rate this article?

0


MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

Publish0x

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.