The will to learn something new

It’s just recently that I took an interest in Cryptocurrency trading and also getting to learn lots of new things through experiencing and experimenting. Few days ago I read a post by @a-blockchain and it felt interesting, and he told me to learn about Fibonacci and was kind enough to recommend a book. At first it looked daunting as numerology was never my friend, but as I continue to read more, it looks very fascinating. I remember the term “golden ratio” from my school days, probably geometry or biology class, and the universe is based on this golden ratio.

Cryptocurrency Mining

This whole methodology of Fibonacci helps traders to make some important decisions regarding their trading price. As we all know Cryptocurrency is a fully developed industry where we can make fortunes, however this fortune won’t just come to our door knocking, we have to work to get this, and especially at this time when entry barriers are high because of the huge cost involved. If we want to mine cryptocurrencies such as Bitcoin, Ethereum, Litecoin and other PoW based cryptocurrencies, we need to invest heavily on specialized hardware and burn lots of electricity, and if we want to earn cryptocurrencies such as Steem or SBD we have to use the PoS algorithm, where we have to stake a lot of Steem as Steem Power and then wait for to first recover our investment and then see the face of profit, and needless to say we also need to be careful about the Steemit “flag war” which may have high effects on our investment. But either way PoW and PoS both requires heavy investment, but that doesn’t mean one can’t earn some cryptocurrencies.

Trading on BitShares: Gaining Profits BUT Also Covering Losses

Recently I started being active on BitShares, I have been following the market and been doing some trading, not that I have made any big profit, but nor have I made any big losses. But trading is one option for me to make some good money, now one might wonder that in order to trade one must have investment to make, however many of us have read biographies of many successful people who started from zero. However, when it comes to trading, one can actually start with small amounts, the first time I was on BitShares, I converted just $10 SBD into BitShares and started selling and buying the same asset again and again, I did make some profits, but I also did some mistakes and have to go through losses, but few days ago when Steem was at $4, I exchanged some of my Steem for bit.USD and yesterday when Steem was at $3 I used that money to buy back all the Steem. Well this was just something so easy, but we can’t always make such easy profits, and also we might also regret our decisions if things went different, for example, what if after I sold my Steem for $4 and the next day Steem price went up to $6, then I might have started cursing my luck. Actually something like this have already happened with me, just this Sunday I sold 1500 BTS at price $0.195 and just 10 minutes later prices started climbing up so fast that at present while I’m typing this now the price of BTS is $0.235

Why Fibonacci

That’s why I decided to learn more about trading strategies and improve my abilities. The rule of trading is buy low and sell high, but how to we measure what’s the low or what’s the high? This is when tools like Fibonacci, Elliot-Wave, and Gann Chart analysis etc helps us to decide. When should we buy, when should we sell, how long shall we wait till our next transaction, what will be the price tomorrow, will there be a bullish market, or the market will get bearish.. Traders try to predict the future and answer such questions like this using different tools, and Fibonacci Analysis is one of the most important tools which can help any traders if applied correctly to make profits or avoid losses.

Explaining Fibonacci Numbers in The Easiest Way

So to begin with, Fibonacci is a series of numbers that starts with 0 & 1. And no it’s not like binary numbers but it’s based on adding two numbers and move to the next step. The final destination is infinity.

So, first we just add 0 & 1 like this: 0 + 1 = 1 We can add labels like algebra: a + b = c (a = 0; b = 1; c = a + b) But it follows this pattern and continues to go till infinity The next step is: b + c = d or 1 + 1 = 2 The next step is c + d = e or 1 + 2 = 3 … d + e = f or 2 + 3 = 5 3 + 5 = 8

So we can say Fibonacci Numbers are a series of numbers which follows this pattern of adding two variables and then adding the result with adding the second variable and follow this pattern till we can reach infinity.

Conclusions

I think this much is enough for an introduction to Fibonacci, and I should take more time to study this correctly, and this post is more like my study note. I like the idea of learning together, so if you are a new student like me then you should just follow me and we can grow together, if you are an expert then I humbly request you to follow me and guide me the correct way whenever I make some mistake. In the future I will be making more posts related to Fibonacci and Different Trading Strategies so that together we all can learn and earn.