This is a scene that I have witnessed on the many social media platforms concerning crypto currency and trading. The most recent one was on a Facebook group I follow where someone posted how they were going to start trading with $30. What follows is the Patrick Bateman (slick trader type fictional character) posts.
"$30 are you serious ?"
"Good luck with that"
This is so hypocritical for a number of reasons. First this new crypto world is trying to get away from the centralised big money banking scheme. I thought about trading in the stock market once but had nowhere near the capital. Crypto trading is an easier trading platform to get into with smaller barriers to entry. The main barriers to entry concern time and effort in terms of vetting. In this new crypto community we should help and respect everyone especially in terms of income/investment t status. I'm sure most of us work average jobs and can therefore only afford to put in a couple bucks.
Another reason why this is hypocritical is most people tell you not to invest more than you can earn , however when people do that and openly express this on a forum they are mocked. A few analogies spring to mind. I am a musician and like most kids prior to getting into guitar I had a bunch of interests smouldering in my wake. Therefore my parents did what most parents do buy the cheapest acoustic going to give to me for Christmas. It would be another 3 years or so till they got me my first electric but this was only cause it ignited a passion and I played that thing everyday. Therefore when people mock someone for only having $30 I can see myself bumbling over chords with my crappy acoustic and all these trader Patrick Batemen twats laughing and guffawing at me.
Finally when I decided to study part time again I was met with snobbery as people started espousing all the books they had read and theories they knew. To quote from Dead poets Society " I was the intellectual capacity of a 98 pound weakling , people would go to the beach and kick copies of Byron in my face".
Interestingly enough when you pressed said people they could not explain what they knew to a novice like me. Therefore what they were saying was to impress and not actual knowledge they espoused a lot of hot air ( Bad Steam).
Therefore stop filling this machine with Bad Steam if you invested a lot more money good for you but your comments are not helpful. What is more constructive is this, a trading platform like Bittrex takes 0.25% on all trades so just remember this when trading . If you have a small amount you may not be able to jump around trades as much, especially if they are losing value.I learnt this from just getting in and trading.
Finally I invested with about $20 and it is now $23 profit is a profit , no Lambo for me but that's OK I'll buy a beer much less upkeep.