Hello Steemians

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This is a journal of entry into @htliao 模擬投資比賽 Demo account investment challenge on the platform "Plus500".

The contest ends on the 1st of October. Hence, I decided to create a post of how I have done so far on the demo account.

The link to the context is below

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https://steemit.com/cn/@htliao/5lt1lk#@htliao/re-htliao-5lt1lk-20170919t013432646z

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Just a disclaimer, I am only a beginner in this topic and hence the below are not financial advice and is only my own opinion. Please perform your own due diligence.

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Brief overview of the Demo Account Investment Challenge

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The Platform that @htliao suggested was Plus500
So users will need to open a Plus500 Demo Account and see how much demo account profits they can make until the 1st of October 2017
I started off with R24.994 M in the demo account on the 26th
Because I have joined late, and have be testing out the platform with very small trades. the value of my demo account is now only around R24.995M on the 30th
Hence, the return that I have made is around 0.004%

The return percentage is very small indeed, and I just want to show the best trade and worst trade that I have made and also to share what I have learnt over the time.

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Best Trade?

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This was the first cryptocurrency trade that I made on the demo account
I longed 0.25 BTC, and it has increased over 10% since my trade.

Take note of the following when trading in cryptocurrency on Plus500:

• It is a leveraged trade, in this case it is 30 times.
• if your leave your trade go over night, you will have to pay premium, as you can see the premium for cryptocurrency is quite high

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Worst Trades?

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As you can see above, there are some trades that closed and the reason was "Expired".

In all three cases, I made a loss on the demo account. This is because I did not notice that there was a Expiry Date when I entered the trade.

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What I have learned

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It was definitely a new and interesting experience.
Cryptocurreny is a very volatile and risky investment, and when it is leveraged, the risk and volatility is exacerbated.
There may be an opportunity to make gains but you will need to know what you are doing and perform a lot of due diligence.
Even though I struggled a lot in the beginning and made a few bad decisions, I feel that I am now more comfortable with the platform and will be able to perform better in the next contest.

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If you like this post, please upvote, resteem, follow and comment.

Thanks for your time and have a great day!

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