How to make money in stocks and cryptocurrencies

How to make money in stocks and cryptocurrencies

Step 1: Do not invest money you can't afford to lose.

Step 2: Do not put all your money in 1 product.

Step 3: Select your best products through fundamental analysis.

Step 4: Buy low, Sell High.

One of the hardest parts is choosing the right moment to buy and sell your products. Look out for oppertunities with low risk and high reward. Risk management is key. Technical analysis can be used for timing your entry and exit points. There are many patterns which indicate a higher propability on a bullish or a bearish outcome.

Example 1: the descening triangle. The pattern is bearish when broken through the support. But if you still want to get in, you need to manage risk by making decisions in advance. The red rectangle is a selling zone and the green rectangle is a buying zone.

Example 2: Inverse head and shoulders. This pattern is bullish when the price breaks through resistance.

There are many indicators which can help you try to find an entry or an exit point. Common indicators are RSI, MACD, MA, fibonacci retracement, etc...

Step 5: Let's practice!
You think you can time the market? Why don't you proove it by using fictional money instead of real money. Practice on paper or use an online ficitonal wallet. You will make mistakes and you may learn from them.

Step 6: The real thing.
After a couple of weeks/months/years of practicing, you may find yourself confident enough to invest your hard earned money.

Step 7: Enjoy your lambo.

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Disclaimer: This is not financial advise.

https://steemit.com/money/@bo3ia/make-money-with-the-s-and-p500-index
https://steemit.com/cryptocurrency/@bo3ia/risk-management-in-cryptocurrency-and-stocks