If only I got a dollar for the number of times I saw someone online promising 150% ROI in 2 days.
Or someone saying how some "Doctor Patricia" changed their life in YouTube video comments.
I would probably pay my own student loans off.
But that aside, we all know that those things are scams.
But is there any specific method that is guaranteed to give you bucket loads of cash in no time, with minimal investment and no risk whatsoever?
I'm sure you guessed that the answer is no. And if you thought it was yes, you need to change your mindset. Else, those scams will get you.
Well, now we know there is no secret "ultimate" trading method.
But there are ways to move at least 30% profits every month. That's 1% a day!
Improve yourself. That's all you need to do.
You'll need to learn the fundamentals of:
- Support and resistance
- Drawing trend lines
- Chart patterns
- Candlestick charts and what they tell you
- Oscillators and indicators
- Margin trading and leverage
Having learnt all these things, you must use them to put together what is known as a trading plan. A trading plan is more or less your guide to trading financial markets.
It tells you when to enter a trade, when to exit a trade and everything in between. You must stick to this plan, but after you have rigourously tested it for flaws.
Once you have a plan in place, you'd need capital.
Luckily, there are tons of giveaways running on twitter. I mean, if I can win 1000 USD in Tron from a giveaway(instantly converted it to BTC though), I'm sure you can win some too.
If you'd prefer not to engage in giveaways, you can find ways to make extra income. If you're really passionate about earning through the crypto market, you can work an extra job to raise funds, or you could borrow.(not recommended though).
I advise noobs to start with at least $300 and at most $500. Handling more or less than that is dangerous.
I also advice that you learn the basics of leverage. Once you have done that, I strongly advice you stick to 2x leverage. This will mean you would have $1000 to trade with, should you start with $500
Lastly, trade to protect your account, and to gain experience. I'm not saying that you shouldn't trade to make profits, but don't take stupid risks.
Instead, note down the point you would have taken the risk from(without actually taking it) and see how it plays out. You would be amazed at the results.
But always remember: There is no magic way of winning all your trades. You will make losses, and that's just part of the process.
Thanks for reading.