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RE: Introducing Mark Carrington: Author and Entrepreneur; Frustrated Blogger; Investor and Fitness Fanatic

in #introduceyourself8 years ago (edited)

Thanks for your support.
I am hesitant about trying an apprentice model for a number of reasons. The regulations that are in place to protect investors makes it a minefield for anyone acting in an adviser role. Next is everyone's position is completely different and your $200 worth of Bitcoin will have very different meaning to my $200 worth of Bitcoin. You will only really know what that meaning is when you lose it on a trade. The hardest part of trading (let's take foreign exchange as a market) is that the very best traders are right 60% of the time. This means they are wrong 40% of the time. A trader can make money being right only 50% of the time - i.e., they are wrong 50% of the time. This makes teaching trading a very difficult proposition - the teacher can only declare success when the trader is making money by being WRONG half the time. the hard part is one does not know in advance if you are right or wrong.

Investing has different dynamics. For example, I bought my first Bitcoin at $319 and am still holding it. I bought my first Apple shares at $23 (effectively $3 after the 7 for 1 split) - it is now at $105 and it has been higher. In both cases i have been right though it could be argued that holding on after a big run up in price was not clever. This is based on an assessment of fundamentals that say something is under valued or is going to go up in value. This is easier to teach. I can point you to resources that work really well for doing that - for example my friend Ann Wilson - The Wealth Chef has an excellent series of videos on Youtube. She will be easy to find.

That said, I will be posting regular reviews on the way I see the Bitcoin and related markets. Watching and reading the lessons will in time impart a lot of what I have learned over the last 5 years especially.

Good luck and lesson one is to look after your capital.

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That was a lot of very helpful information, I really appreciate it. I will look into it, and I wish you success here on Steemit!

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