Hi Steemers
Bitcoin once used to be where alot of currencies are at the moment - Misunderstood and not heard of or not marketed enough. The more and more people that take use of crypto currencies, the many more millionaires you will be seeing.
Personally my take on investing at the moment is buying in barely known currencies at prices of 50 cents and less. These are long term investments and minimal risk is spread because you are not necessarily spending millions to make your margin. (Obviously doing research as to which ones I think will do well). Do not get me wrong I have invested in Bitcoin and Ethereum but where my big money could be made is on these smaller currencies that go from example $0.50 to $100 over a longer period of time - much bigger margins. Like people that bought Bitcoin when it was only 10c - $100 have made good money on their initial investment, however much it was but it took time to get to where it is now. This is only my theory and opinion.
Since starting trading and speaking to various other traders I have some rules that have helped me and here they are:
5 TRADING RULES that I always tell myself.
Plan your trade - Set a limit that you are happy selling with
Do NOT over-trade. Do not sit there debating with yourself if it was a good or bad trade, you put your money there because you did your homework (hopefully)
Do NOT pick tops - do not go and buy when currencies are high and look good (I have personally lost money like this in the past and is a very important rule.
Manage your trades with NO REGRETS - having an emotional attachment to your trade can affect your personal life in many ways.
Do NOT chase hype - just because people are raving about it do not just 'jump on the band wagon' DO YOU RESEARCH
I hope these help some of the new traders out there. Personally I am loving this life of crypto-currency trading and I hope I can help others with my knowledge and learn from others in the same way.
For more info follow me and I will do the same - after all we are all in it together.