Around the first of December I decided to dip my toes into the fast-moving waters of the crypto-currency frenzy.
I can tell you for a fact, even at this early point, it is the wild west of trading!
However, crazy it may be, I think that there is sufficient evidence that it is something that needs consideration in most portfolios. But a small allocation, to be sure. Think of it as Las Vegas money – if you lose it, you at least had the fun of spending it!
Here is my take on crypto trading so far.
First the good news: I am already up 100% – or more on all positions, even after adding the money transfer charges (wire transfers) and no so cheap trading costs.
It is my intention to take my initial investment off the after I am up 100% and play the game with house money.
If you want a roller coaster ride, without leaving the comfort of your office, you might want to put a few bucks into this crazy new market. But it is volatile – and I mean REALLY volatile – many coins move as much as 10% or more daily. And some days as much as 100% (on certain coins).
It is no easy matter to set up accounts on most exchanges so plan on it taking some time. If I had been able to get my Kraken account opened for trading a few days earlier, I would have been able to buy Ripple (XRP) at about 20 cents per coin. Just as my account opened, it went up to $1.00 in one day and added another dollar the next day! I was able to establish a position of a few hundred coins at a price just above $1.00 and it has been well over $3.00 already – trading at about $2.75 as I wire this
So far I have traded Bitcoin (fractions of a coin only) – and doubled my money. Ethereum – also doubling my money. And Litecoin – another doubling of my money.
Am I having fun? You bet I am. Do I know what the F#@& is going on. Hell no!
But like I said, when I trade cryptos, I just pretend that I am in Vegas – and roll the dice.
And I intend to continue to take profits each time my little position doubles in value. Who knows where this madness might lead to eventually? But in the country where I was raised, we had a saying, “Make hay while the sun shines.”
While sitting around the campfire, one man-eating native asked another what he was eating. He replied, “I’m having a ball.”
That pretty much sums up my crypto trading experience so far!
Exchange rates table is provided by DailyForex.com - Forex Reviews and News
Live currency cross rates is provided by DailyForex.com - Forex Reviews and News
Live indices widget is provided by DailyForex.com - Forex Reviews and News
Live commodities widget is provided by DailyForex.com - Forex Reviews and News
Author & Trader
the SRV’s are spot on !!Tom CUSA
“The SRV’s are amazingly accurate”.Tony Texas
….very impressed with the whole philosophy – both personal and trading, expressed in the book. I will read and revert !!Richard DUSA
I trade the US Bond Markets exclusively – amazed at the accuracy of the SRV’s !!George SNew York, NY
Thanks for the method !! Very solid, very logical entry and exit and genius SRV’s !!Denis DRussia
Great system – couldn’t trade without it !!Frank YDavid, Panama
- January 2018 (5)
- December 2017 (1)
- November 2017 (2)
- October 2017 (1)
- September 2017 (1)
- July 2017 (2)
- May 2017 (1)
- January 2017 (1)
- December 2016 (3)
- September 2016 (2)
- August 2016 (2)
- July 2016 (2)
- June 2016 (5)
- May 2016 (1)
- April 2016 (2)
- March 2016 (1)
- February 2016 (3)
- January 2016 (3)
- December 2015 (1)
- November 2015 (3)
- October 2015 (5)
- September 2015 (5)
- August 2015 (2)
- July 2015 (5)
- May 2015 (1)
- April 2015 (1)
- March 2015 (1)
- January 2015 (1)
- November 2014 (1)
- October 2014 (1)
- August 2014 (1)
- July 2014 (6)
- June 2014 (3)
- May 2014 (5)
- April 2014 (2)
- March 2014 (2)
- February 2014 (2)
- January 2014 (10)
- December 2013 (11)
- November 2013 (20)
- October 2013 (13)
- September 2013 (14)
- August 2013 (10)
- July 2013 (26)
- June 2013 (16)