How i turned $300 into $50,000 in one year trading Crypto currency

in #money8 years ago


First, Id like to say that anyone can have these kind of gains in Crypto land. And no, i didn't mine any coins, and no, i wasn't an early adopter of bitcoin, buying up coins when the price was under a dollar. Im just a trader, who fairly recently opened up a few accounts and transferred $300 into bitcoin then traded it up to over $50,000. There are so many great opportunities for anyone willing to pay attention to coin news, new coins, charts, and price action. You can find out what's the hottest new Coin and jump in early. (steemit) You can track crypto news and see how the market reacts to bad or good news. (in crypto land news really affects the price, much more than regular stock trading) Or you can learn to read charts and price action, which is my specialty.
 
You see I have a bit of an unfair advantage. I have been trading penny stocks for over 10 years. Have you ever heard anyone say that trading is risky and you will likely lose all your money? And Penny stocks are even more dangerous, and mainly all scams? Well, its true that penny stock are often very scammy and there are alot of pump and dumps, and reverse splits and shady company activities. But I have been trading penny stocks successfully for over ten years, and I actually love trading them. I look forward to hitting the markets every day. I often dread the weekends because the market is closed and I no longer have my own personal money making video game :(
 
Well guess what? Trading cryptos is almost identical to trading penny stocks.. Only they trade 7 days a week and the commissions are almost non existent. I easily pay over $15,000 a year in commissions with my regular broker, $5 in and $5 out per trade. But not with cryptos, the commissions are so small that you probably wont even notice them. Ok, what about trading software? Don't i use very sophisticated trading software to find good trading opportunities and read charts? Sorta, i guess... But in crypto land we have great trading software too: I trade with Coinigy (https://www.coinigy.com) It allows you to link your trading software directly to your exchange of choice. Then you can trade directly on the charts and make very quick trading decision on multiple exchanges right from the one trading platform. I highly recommend them.
 
So what's the trick to trading successfully??? What's the holy grail of trading???Right?? That's what everyone wants to know... What's the big secret that will take a $300 account to $50,000 in a year?? Actually, its really not that difficult.. You have to learn to read charts the way I do... I have taught quite a few friends to trade over the years. They often will sit in my office with me during the day and watch me trade, asking questions and learning from real live minute to minute executions. However, I'm not in the business of teaching, I am a real full time trader. I love making my money from the markets. I don't want to have a room full of people watching me execute my trades all day and distracting me with questions.

So... I was thinking I could post some charts here, on steemit, and try to explain what's going on and how to read them. Also i will post short videos and share my screen so that you can see what I see and I can go even a little more in depth with the charts.
How does that sound? I think it would be helpful to anyone who is new to trading and wants to grow a small account into a bigger one. (or a huge one) Trading is not really that hard to understand, its really all chart reading and controlling your emotions. Everyone else buys and sells, reacting to the news or a rumor or some price move or a friends hot tip or or who knows, could be any combination of things.. But one thing is for sure, its all written on the chart and if you learn to read the charts you can easy start to multiply your money.
There's some real advantages to trading Crypto Currencies:
-its a 24hour/7day a week market
-the trading software at Coinigy is awesome and cheap to use
-The charts are even more simple to read than regular stock market charts
-you can open an account and start trading with any amount of money $10 even

  • you have my steemit blog, to guide you and help you learn the tricks to trading
 

I hope you found this post on steemit encouraging and motivating. If so please let me know, and I will begin posting charts and explaining what I see, and why I bought at a certain price and why or where I am planning to sell. I'm sure within a short period of time you will be able to read charts just like me and you might even say to yourself, "Luc must be buying this chart, this opportunity is too good to pass up" Or "wow this is a beautiful chart pattern, it looks just like something Luc would post on steemit"

I'm very excited to use steemit to share my experience with everyone, thanks for reading..

Luc

Sort:  

Lol just followed you, now i realize this is an old post, so i have a lot of catching up to do.

First off, i never knew about this site, i stumbled on your article while i was looking for articles on how to trade cryptos on the internet.I became curious when i saw the outpouring of positive comments so i decided to sign up and follow Luc.Unfortunately those videos are no longer available due security breaches.Gutted i must have come in so late.I would like to appeal to you for the sake of the people who have genuine interest in trading cryptos, can you post videos on how to read and interprete the charts.This is one area im inching to learn.I would be grateful if i can have video tutorials on this

You should check Luc's new Youtube channel, he also posts all of his new stuff here on his steemit blog :)
https://steemit.com/trading/@quickfingersluc/introduction-video-my-new-trading-video-series-for-steemit

Hi, Steemit community! Please check out my steem t-shirt, I was working for a long time on it!
front.jpg
https://teespring.com/steem-to-the-moon

I think we are both in the same boat right now. I am a real time learner who dabbled recently into trading using bittrex platform and I did loose some coin (Thank God I didn't really trade with much coins). I am looking forward to learning from @quickfingersluc and I hope I can catch up as fast as possible. To me, trading seems emotionally draining though!

Trading with emotion is lethal. You can only lose money if you close the trade. Anyone who has lost money trading crypto needs to either learn quick or stop trading as it's almost impossible to lose. So far losses have always recovered if you hang in and not panic.

Inspirational Article !

Are there any books i could order to start learning to read charts?
So far i just rely on good/bad news on coins to decide wether i short or long :)

It seems not to effective at times and i probably burned more money then i made, still this is a thrilling world and i would love to get more involved.

Please drop me a suggestion ! :)

I love your excitement.. As for books, unfortunately there mostly all garbage and ihave read a ton of trading books. Nothing like learning direct from a fulltime trader who makes his living in the markets. Especially if that trader isn't trying to sell you anything. The best people to learn from are those who don't want anything from you because they are already successful on there own. I make plenty of money trading, I'm just happy to help others in my spare time :)

Yeah well that is the issue.
Most people will not just give away their strategies as it would generate more competitors.
I tried to convice some people to teach me in return of a % of my profits, but nobody seemed interested.
Can you still suggest a book or site to start with? I feel just by playing demo accounts, you do not really get a deep understanding.
Also i would love to know what your stance is on bots that automatically trade for you. Are they any good and if so which ones?
Thanks so much for answering :)

My favorite trading book is Rule the Freakin' Markets by Michael Parness... I don't use any of his strategies but he really has the right attitude about trading and he grows a fairly small account into a huge account. His method involves trading a lot of blue chip stocks, earning plays and news type trades. All of that is good trading but you can expend a lot of time making very little if you don't think in percentages.. That's one of the biggest lessons for a new trader, or perhaps one of the reasons so many traders fail.. you have to find markets to trade where your swings are in big percentages.. 30-50% swings or even more.. it leaves a lot of room for error and still end up in a good profit.. ill make an entire new post on this subject, and a video .. this is why cryptoland is so awesome, right now, the swings are huge..

as far as bots are concerned: I wanna make my own trading decisions. I have tried automated trading with currency in the Forex market a few years back. I even hired s programmer to help me code a strategy, but it wasn't making near what I could make on my own. So I dropped the project.

I just ordered that book. Expect me to get back to you once i read through.
thanks for taking the time to answer in that much detail!

check out trevon james on youtube, he has some trading videos, also tone vays' channel, and i want to say the coinigy guys have videos too but dont quote me on that one. There are quite a few people to watch there. Most of them are on steemit anyway. Dont do what they do, just see what they do if/how it works, and if not then you know what not to do. there is a lot to learn from others. even if they're mistakes!

Great Article, As a starter in trading cryptocurrency, your article has really made a path for me to follow. I await more great videos from you.

Thanks

Hey thanks for the video!

Just wanted to know what to do if your currency is doing crazy well and you have made a 100% profit . Do you wait for it to touch the moon as the hype is ? Or you should sell at a profit and hope it comes down and sell again?

Sorry really new in the game !

Thanks cant wait to see what you post next!!!!

Thank you for taking the time to read it and give me a vote!!

Still Active on Steemit? Look at the amount of Views you got for this Post!

yeah and all this value - he only received 16.95?! in payout?

Unfortunately, his youtube channel has been closed! Not sure what happened. But still, found some of his videos:

(another channel)

Thanks for posting the article and super informative video! I just got into trading cryptocurrencies back in May. Started with Bitcoin & Ethereum but have recently made the cross over into trading alt-coins on Poloniex, Bittrex and Cryptopia. I'm interested to get into some swing trading and have a Coinigy account but find the site overwhelmingly complex. Your video really helped me understand what's important in a trading platform and helping me to lay a good foundation. Thanks! :-)

It is the video of the author of this post, whose youtube channel unfortunately is shutdown.

Thanks Luc
Looking forward to your videos.

You post ur trades real time ?

Nope, not anymore.. I had some security issues and now im not being so public with my trading.. Made myself too much of a target.. Ill just quietly grow my money alone..

Any chance you will be posting the videos again? May be in a private group only on approval basis?

Hey, loved your videos! Glad I got to watch some before you took them down. Are you able to explain in some way what happened or at least how people should protect themselves so they don't have the same issue and in a way that won't cause you more issues? Thanks for everything! Good luck =)

that's such a shame, i'm sorry for you man. This world is really so fuckin ignorant. Some nice guy like you shares his wisdom and gets screwed. thanks for all your videos, i have learned a lot from you.
cheers!

True, it really sucks to help others and then get hurt. But also its a big wake up call for me to beef up my security measures.. and I didnt get hurt too bad, but i really jumped the gun with the delete button..

Amazing, very motivating!

I appreciate you support, thanks for the vote!!

In one of your future posts, would be nice for you also to include how to handle it when the chart reads something, and the opposite happens. How do you accept a failed attempt, when you are following the right system?

1st thing, you should always expect that something could go wrong with a trade and therefor you always size your entry so that it wouldn't hurt you too bad. Buy no more than 25% of your account in one position. That being said, if you learn to read charts, you will almost never have a bad trade, therefore on the rare occasion when it does turn the wrong way, you wont mind just taking the small loss and jumping into the next trade without hiccup. But yeah I will cover these topics in some videos, I'm writing a note right now, thanks for your topic suggestions. And Thank you very much for the vote!!

Good article👍🏾

Coin Marketplace

STEEM 0.25
TRX 0.14
JST 0.036
BTC 50926.89
ETH 2897.82
BNB 368.41
SBD 4.15