I decided to take the plunge while the prices are so low!
I have started small, literally only £1 per coin for both long and short positions. My theory behind this is that the market is so volatile right now, we are either going to see further drops, or the prices will begin to climb again, so either way, I should profit. Even if it is only pennies lol
SO which coins have I gone for you ask? Well, I will tell you!
I have gone with:
- BTC
- Litecoin
- OMG
- Etherium Classic
These are the 4 main coins that I know about, and I didn't want to start playing with new coins as I would basically be gambling.
I have set my automatic selling points at 1% profit. Again, I know this is low, but this is really about me having a go on the platform and seeing if I have correctly understood all of my lessons so far about trading in cryptocurrency.
The EU platform I am using is IQ options https://eu.iqoption.com . I chose this one because it also gives you the chance to have a play with pretend money before investing actual cash. It is pretty straight forward and after practicing for a few hours, I had pretty much got the hang of it. I woud definitely recommend trying the practice option, it really does help and the prices are actual real time prices, so make your mistakes here, rather than in the real version.
So here are my graphs and buy/short positions:
I will watch with bated breath over the next few hours and practice NOT panic selling :D Wish me luck!
If you feel my post is undervalued or you would like to donate towards my crypto journey, here are my wallets adresses, all donations most gratefully received! :D
ETH - 0x6A4D6911feB50E197a10d3f14b745188063972D4
Litecoin - LXCX9NBAosQ5U6HkZhmcpPkwhpxwcpwFh3
OMG - 0x6A4D6911feB50E197a10d3f14b745188063972D4
BTC - 1McmDAEeouGJmSuqQM6f6fmcxNKGQM73wT