I have decided to try my way forward with day trading in the cryptocurrency space. I will post my journey here on this site and I hope you will follow along.
A short intro; I have some years of experience with the normal foreign exchange market, although I haven’t engaged in any actual trading for a long time.
Back when I did some actual trading, it was a mixed bag of trading different currency crosses, different strategies and for different periods. I had profitable periods and unprofitable periods – overall, unprofitable in $ terms, but very rewarding from a perspective of knowledge and know-how.
While the cryptocurrency space is vastly different from foreign exchange in many different ways, there are also some similarities, where I believe my experience will be helpful. With regards to day trading, different assets behave differently, but the framework remains somewhat similar, no matter what asset class is being traded; and here I will also be relying somewhat on my past experience.
I am very aware that I made a lot of trading mistakes in the past. Because of this, I will continuously seek new information to guide me on this journey. By combining past experience, new information, and a strict ruleset, I hope I will be able to make this a stressfree and profitable adventure.
The only thing I know for sure is that it won’t be easy.
My plan is to share all the details here on moneyminds.net. Want to follow along then come back tomorrow for the next post.