Years of blowing accounts are painful, but not usually a waste. They toughen you and give you experience you can't buy in the market. You learn to avoid greed and how to take little funds and grow them patiently into a huge pirtfolio. Now read this experience.
I used a very popular Bitcoin trading exchange that allows one to register within seconds with as low as $10 and start trading immediately. I deposited $50, did a critical study of the trading interface and the educational materials and guide available. That took me about an hour. Then I transferred $20 from my exchange wallet to my Trading account and I was ready for action. I studied the charts of the trading pairs BTC/USD, GBP/USD, EUR/USD, USD/JPY and took note of the moving trends. That took another one hour, and I was ready to go. I waited until around 11am, a highly volatile time for price movements. My strategy was going to be what is called SCALPING. Trading small lots with average LEVERAGES and taking profit fast without staying in a position too long. Staying in a profitable position for too long could lead to movement reversal and profits disappear, leading to another long wait. I was watching the price movements, when they show consistent upward movement, I BUY and after a few pips, I take profit. Then I wait again, if it keeps going up, I BUY again and repeat the same process. But if movement reverses downwards, I watch a bit to see consistency, then I enter the SELL position and after a while, I take profit. One thing to note is the trading commission for the broker at each leverage level. Make sure that your profit SCALPING includes the commission for the broker, so there will be some profit still left for you. That means I make profit whether price is going up or down, as long as I study well and make the right prediction to BUY or to SELL. Systematically I continued to take positions with little amounts of not more than 10% of my total trading amount, and take profits. Some times $2 and some times $1 profits. And few times losses too. That's okay, as long as its not too much. Within two hours, I had hit the $100 mark as total balance of my trading amount. Then I increased my trading lots and continued very carefully and critically to follow and place orders, and most importantly, to SCALP profit without getting greedy. Between 11am and 2.55pm, I had hit a trading balance of $200. Not easy, but very rewarding and sweet. You too could do it, but you need study and understanding first. It is brain tasking, but exciting. I do this twice a day, four times a week. So one could be making close to $1600 to $2000 a week, with just little capital. All you require is study, understanding and strategic discipline. Also, chosing a broker you are comfortable with. Remember to choose a broker with high enough leverage. This is what gives your money the power to turn small deposits into big profits. The higher the leverage, the more profits a trader can make, BUT ALSO THE MORE THE RISK OF A HUGE LOSS IN THE EVENT OF WRONG PRICE PREDICTION Use leverages responsibly.
Education is important. So study and practice over and over. Watch videos. Develop your skills. Acquire, absorb and apply new knowledge strategically.
Do not fail to give me feed back on your thoughts on this. Always do your own independent research before embarking on any investment journey. Follow me for more on this journey to the top.
