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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!