I will be taking a hiatus from this website. I like this site, however I have too much going on to dedicate posting here.
Do you want to be a forex millionaire trader? Or even better, why not be a millionaire trader? That is more skillful. For those who are looking for the Holy Grail system of trading to reach that figure, well, simply put you are the Holy Grail of trading – let that sink in for a bit, and then repeat it to yourself again. Once you understand that you’ll become pretty much or less unstoppable (And that applies to any endeavor in your life).
For those who are unprofitable traders, stop system hopping. And really understand WHY are you taking a trade.
You can really make bank in this game (Go read this Can you live off forex trading?). I do it, and I know many others who do it as well. To add, don’t limit yourself just to forex, a good trader will be able to trade any financial market, whether it be commodities, stocks, cryptocurrencies (the new hot buzz word) etc. (A side note: Admittedly when I started I was narrow minded and only focussed on forex, until a fellow trader asked me “Why was I limiting myself? When there is an abundance of opportunites and markets to trade on” – sometimes it’s the seemingly obvious things in life.) A chart is a chart, the market auction and order flow is all there for the trading.
You can still contact me, and I will respond – the only question is when! 😛
Have a wonderful December and year end!
To our success!
P.S. Hope you aren’t having Bitcoin Fomo – it’s just under $10,000 USD. Where will it go next? Who knows! 😛
Following on my Bitcoin, Cryptocurrency & FOMO post. This seemed very approriate. I stumbled on this whilst doing some cyrpto reading. Bitcoin Wealth Distribution conducted by Howmuch.net (https://howmuch.net/articles/bitcoin-wealth-distribution). Assuming their calcutions are correct, it represents a very interesting side of the (bit)“coin”. Obviously the Author puts disclaimers on data accuracy etc. However, I do believe it is food for thought, especially comparing with the original concept of Bitcoin. Even if you take it at a loose 5% of addresses own 90%, it’s eye opening.
I love the markets. The volatility and the endless opportunity. I rarely read the news, I do get sent a great deal of information from fellow traders, friends and business associates. Right now, it’s all about Bitcoin, Cryptocurrency, ICO (Initial Coint Offerings) and Alt Coins. I see a lot of people suffering and jumping in the markets due to Bitcoin, Cryptocurrency & FOMO. For those who don’t know what FOMO is, it stands for fear of missing out. A new age term (as Google put’s it: anxiety that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on social media.).
It’s quite fascinating to see, the mental dynamics. No doubt there are many people who have made millions from Bitcoin and other Cryptos. Just have a gander at the Bitcoin chart. If you bought some at the start of the year, and gotten in at about the $800 mark, you would then now be sitting on over 9 fold that (9x! / 900%) call that for yield. It is just under $8000 and who know’s where it will go next.
There are many who have been holding Bitcoin sub $50. You’d be an extremely happy person, if you happened to be one of them. Or even when it first started and the super nerds & geeks jumped on the bitcoin bandwagon, without caring about the price, they purely liked the technology (note the buzz word of the moment – blockchain) and ideology behind it. That’s the reason why it was created – a distributed open ledger, not for investment speculation.
My word of advice to those who want to get into this game are:
- Don’t trade Bitcoin, Crypto’s (or any investment for that matter), out of FOMO. You’re investing with your emotions and out of fear (that’s a killer, right there).. and chasing a trade. Don’t be a Bitcoin FOMO trader.
- If you do opt to trade these, make sure you have damn well done your research and understand what you are getting into (and more importantly how to get out unscathed, if it doesn’t go to plan). Understand the concepts, the workings of these ‘coins’ before trading anything.
- If you are looking at ICOs.. be extremely careful. There are many scams, and if you look at the charts, they have a similarity to “pump & dump” / penny stocks / some IPOs. Don’t get caught on the wrong side.
- For coin storage, please use a ‘Cold Wallet’ / offline wallet and don’t leave it on the Coin Exchange / Online Wallet. Many of these have vanished over night or have been hacked.
- Understand the risks – this is an unregulated market after all.