I am a rookie coming into this crypto space. I don’t know enough about cryptocurrencies as I do not have extensive background on blockchain technology and associated nitty gritty processes. Large part of my acquaintance with crypto is from my blogging engagement on Hive and Scorum which, if combined, is roughly two years.
Stock market investing
On the other hand, I am actively involved in the stock market. By active, I am not a day trader or any kind of trader for that matter. I am a couch potato type of portfolio investor who likes to keep his hand dirty in selecting stocks. The primary motivation has always been to actively involve in the passive income generation.
Since I am involved in passive money making I know the importance of doing your own research when it comes to stocks and companies and understanding the true value of financial status of a company that I follow and invest on. While I was tempted to take profit from my investment in the time of greatest volatility but I did not do that.
With this background and context, I can definitely label myself as an investor and not a trader. But, that is changing from day 1 I invested into the crypto space and I will tell you why.
Why am I thinking about Trade?
The primary reason I cannot remain an investor with crypto is its volatility. I am still not fully convinced on the future security of my investment with crypto (not BTC) and hench want to make quick money. On the other hand, I think - not sure though- even a noob trader like me can make some quick money if I decide to trade with my little investment.
One advantage of being on Hive is you will get to know the trend. I am with likeminded people who always talk about trading and technical analysis. I am being influenced by these posts ( I should not be :P). Hence, when it comes to crypto I am plunging into buying and selling and making profits and incurring losses.
What am I Doing?
First thing first, I am learning basic technical analysis. I am currently reading a book on Japanese candlestick analysis that provides basic information on how to understand the candlestick pattern.
I am also watching hundreds of videos out there on YT and reading billions of blog posts. Now I know how tough it is to understand the patterns. Hopefully, I will be able to share the outcome of my trading hustle in the future.
And lastly, I am putting small amounts on binance to learn the way of trading. I am trying to understand the historical pattern and guess the future direction of the coins. I know I suck but still I am trying.