/biz/ - Business & Finance

[Anonymous No.22642601]

Is it better to baghold when you don't have much money to work with (I'm talking around $3,000 at most) or to make money off of trading? I am very new to this.

[Anonymous No.22642639]

>>22642601
you can make large amounts of money with nothing if you aren't a fucking retarded zoomer and actually learn how to read a chart

i tested myself and started with 0.004 eth last month, it's now 7 eth (this is from trading derivatives, not pajeet token swaps)

[Anonymous No.22642754]

>>22642639
pls teach me how

[Anonymous No.22642757]

>>22642601
I just play it safe and patiently wait until the particular coin reaches a reasonable price. I usually buy when everything is red and low and just sell when I'm comfortable with the profit.
It's all little amounts of gains but I'm done with the whole holding until massive jackpot thing like 1k eoy linkies.

[Anonymous No.22642790]

>>22642601
you will lose that 3000 trading if you are new to the game
This is not a negative view about you. This is just part of paying for your education in the field.
Id say stick 80-90% in a good coin and trade with the rest

[Anonymous No.22642804]

>>22642601
>I am very new to this
Learn how to trade then trade shitcoins for a quick x10. If you can't be bothered to learn it, stake in COMP for the easiest way of earning interest.

[Anonymous No.22642850]

>>22642790
Agreed. A lot of LARPers who pretend like they get rich day trading but stats show the majority of people lose money trading.
Just invest in good coins/companies for the long haul and it's a hundred times easier to make money. Buy BTC and ETH and forget about it.

[Anonymous No.22642869]

There are some strategies to earn passove income on a 3k stack

Look up kamikaze cash on YouTube

[Anonymous No.22642894]

>>22642869
Sorry thought you were talking about stocks

[Anonymous No.22642906]

>>22642639
TEACH ME YOUR WAYS I'M BEGGING YOU

[Anonymous No.22642988]

Solid advice so far in the thread

OP I was in your shoes two months ago

>Started with about 3k cad, traded up to 14k, lost my unrealized gains plus most of my starting capital

Don't do what I did unless you do your research and know what you're doing

[Anonymous No.22642999]

>>22642639
larp.

[Anonymous No.22643036]

>>22642639
Wow, you'll have at least $5 million next month at this rate

[Anonymous No.22643039]

>>22642988
Checked
It's really not worth it, crypto is lower barrier to entry (outside the tech gap) than stocks but far more rigged against you with bots, whales and exchanges. At most if you are new I'd consider trading long positions, meaning don't trade more often than every couple weeks or months. But still probably just better off throwing majority into safe bets and waiting for a bull market.

[Anonymous No.22643049]

>>22642639
>7/0.004=1750
nah dawg u nigga be larpin'

[Anonymous No.22643274]

>>22642894
Thanks for the reference anon I am interested in stocks too
>>22642639
>if you aren't a fucking retarded zoomer
I am 20 so yes
>and actually learn how to read a chart
Youtube has been a valuable resource for me in that regard
>>22642988
>traded up to 14k, lost my unrealized gains plus most of my starting capital
What do you mean by lost unrealized gains? You sold?

[Anonymous No.22643298]

>>22642754
>>22642906
>>22642999
>>22643036
>>22643049
no it isn't a larp, and no i can't teach you, you just have to get off your lazy ass and learn how markets work; the faggots here like to think TA is useless but it's an incredible tool to have, especially if you focus on longer timeframes (4hr, dailies, weeklys can give you a ton of info regarding upcoming price direction)
>>22643274
>Youtube has been a valuable resource for me in that regard
i hate you so much, just look at a fucking chart yourself you retard and see how the markets move and ask yourself why, try to find answers that sit in the fucking charts, you don't need some faggot shill explaining easily accessible information over the span of 20 minutes when you can find it instantly yourself

[Anonymous No.22643819]

>>22643298
I am doing my best anon wtf and I do my own research, I just wanted to learn what they call certain things and form my own opinions about their explanations of things
>>22643039
>better off throwing majority into safe bets and waiting for a bull market.
is Chainlink one of those safe bets because that's where I already funnel a portion of each of my paychecks

[Anonymous No.22643915]

>>22643298
>the faggots here like to think TA is useless but it's an incredible tool to have
TAfaggot spotted. TA worked before 5-10 years. Now it doesn't which shows how much of a larp you are

[Anonymous No.22643956]

>>22642757
Based. Only sustainable and true way to win this war.

[Anonymous No.22643971]

>>22643819
Yes it is but DYOR no its not going to hit 1k eoy yes 1k is fud. If crypto is going to see real world adoption the best chance atm is link.

[Anonymous No.22643992]

400 dollars to buy 2.5 million tokens in a shitcoin that is currently worthless but if it merely reaches 10 cents would put me in the hundreds of thousands

Iron hands
Hodl

[Anonymous No.22644024]

>>22643915
take ONE look at the monthly chart of amazon and tell me that TA is not useful with the information that specific chart provides, without any meme lines or indicators

that alone is evident that a bubble just popped and it'll continue to go south

[Anonymous No.22644084]

>>22642601
Bag hold.

[Anonymous No.22644759]

>>22642601
I was in your position 5 years ago.
People here will try to shill you all kinds of shitcoins, telling you they will x100 overnight. Truth is most of them will perish (with your money), so unless youre a degenerate gambler and want to risk your money in literall crypto roulette, just buy some high mcap coins (btc/eth/link), store them safely, and forget about them for 2-4 years. Also dont belive anyone here. Good luck anon

[Anonymous No.22645602]

>>22642790
To add to this: Almost no one makes money trading. Most posts you read about how OP 'made 30k from 500 bucks' are just people who feel bad about their failure to do so and want you to join in their feelings of inadequacy.

[Anonymous No.22645904]

>>22642639
I started with 1cent and now I have a gazillion gorillion dollars

[Anonymous No.22646343]

>>22643298
What is TA?

t. Absolute newfag that is good at reading patterns and also only has a pittance to invest

[Anonymous No.22646647]

>>22646343
Technical analysis.

[Anonymous No.22646760]

>>22642757
Wtf that's my cousin bro

[Anonymous No.22646959]

>>22642601
If you have 3000$ the best strategy in my opinion is to keep it in USDC and meditate.
Then you browse /biz/ all day to find sure trades for x2 or more, sure trades only appear once in a while so it's going to be a lot of lurking for 1 trade a month.
The meditate part is to gain introspection and objectivity to your ideas, because browsing /biz/ will make you see some sure trades that aren't sure trades if you're not objective, it will cause you to lose your money.
Plus say you make a good x3 trade, next step is to put it in USDC and browse /biz/, but now you know you have made a good trade before or maybe 2 good trades, so you're more confident and thus more blind and you will make a bad trade, so you meditate 30 minutes a day and read stoic philosophy to calm your tits.
Now after a few months of good trades, you will have a decent 100k$ stack, it will be difficult to make these good trades with a big stack since there are more good trades in the low volume shitcoin side of thigs, so after you have 100k$ you put it in good projects, a chunk in link and another chunk in 2 low marketcaps like pnk and xsn now.
When I say good trades I mean trades like these:
- A Coinbase listing announcement for a 50% pump if the coin is old or more if it's new like UNI
- When hedera hashgraph announced a google partnership and did x2.
- When SXP was bought by binance.
etc.
Stick to those until you get how /biz/ really works, then you'll be more comfortable going for trades like these:
- LTO in early 2019 with all the shilling here
- VIDT in early 2019 same
- MATIC in May 2019
- AMPL and RSR this summer
etc.
if you catch 1 decent x2 trade a month, your 3k$ will become 100k$ in 5 months.
Easier said than done because you have to keep your ego in check, thus meditate.
You'll probably fuck it up but I hope you make it.

[Anonymous No.22647326]

>>22642639
>I was lucky and so can you
>please trade in favor of my positions, thanks

[Anonymous No.22647428]

>>22646959
Now lets say I dont have 3k to invest, but want to start out with 20 dollars.

Same principles apply?

[Anonymous No.22647516]

>>22642804
I'm too busy to actively trade, how much up front to make worthwhile$ from Comp?

[Anonymous No.22648612]

>>22643298
as a self learner who has done both, I can tell all of you this anon is full of shit. He undoubtedly started with at least a couple youtube videos or outside sources then figured the rest on his own. He is just protecting his fragile ego, imagine making %1000 gains and being insecure about it, sounds like a larp.

[Anonymous No.22648657]

[Anonymous No.22648669]

>>22648657
Excellent, you've learned how to take notes about what happened in the past!

[Anonymous No.22648715]

>>22644759
This is good advice.

[Anonymous No.22648740]

The number one rule of crypto trading is never ever ever ever never ever ever ever ever never ever hold shit coins overnight. Get in and get out, no matter how small the gains.

[Anonymous No.22648813]

>>22643819
>is Chainlink one of those safe bets because that's where I already funnel a portion of each of my paychecks
nope, it's dead. xrp is where you want to be now

[Anonymous No.22649062]

>>22642601
Can someone make one of these for YFI ?

[Anonymous No.22649087]

>>22642639
This is true, if you learn how to read chart it doesn't matter with what amount you start you will compound it really fast

[Anonymous No.22649103]

>>22642601
how bad is it bro? give the specifics

[Anonymous No.22649168]

>>22642639
.004 eth doesnt even cover the gas fees last month

[Anonymous No.22649219]

>>22642639
>this is from trading derivatives
I considered it but I'm so afraid of the risk. I normally take no risks; I invest in blue chips that pay out dividends or invest in convertibles that have less than 12 months life left in them that I can upsell to the real suckers.

[Anonymous No.22649618]

>>22648813
Lmaooo

[Anonymous No.22650199]

learn how to filter out the bullshit on biz.

learn ow to identify obvious shills/ anons trying to push pump and dump schemes.

read the white paper and understand liquidity and volume.
Coins with higher volume/market cap are harder to manipulate so go with them

[Anonymous No.22650280]

>>22643298
Curious to know which exchange do you mainly use?

[Anonymous No.22650499]

>>22642601
baghold link. listen to your intuition

[Anonymous No.22650533]

>>22650499
Checked. Am do