First Things First

Dear Steemians,

if you are really considering cryptocurrency as your investment option please make sure that there is not too much trading involved.

Many people see videos and read through comments or blogposts that makes it seem preety easy and achievable for everyone to learn in just hours. But ATTENTION REQUIRED. Many people that try to teach you trading are just linked to affiliates that are paying them for convert x-amont of people into customers or users of a trading platform.

With cryptocurrencies even though it is such a young market it works just like with everything where there is money to be made. Whether it´s the stock market or ~~FOREX.~~ There is less risk involved in marketing platforms, sites and tools to customers than actually invest in these vehicles yourself.

If you ever feel like trading make sure you trade on places with a high volume of coins so it makes it easier for you to get your order placed and more importantly filled at the right price. Even one step before that it´s needless to say that you look at the charts and get a picture for what you and many others as well are dealing with

Also digital money spends itself much faster than having the bills or coins ~~physacially~~ with you to spent on a counter or wherever. Always take that into consideration when speculating on an exchange. Even though there is more money to be made when the amounts at stake are higher but therefore the losses as well. And as for 98% of traders the latter is more often the case than winning.

I neither know how the market works and it´s very safe for me to say that I never will. Because I know that fact to be 100% true I might as well never speculate. Now one could say that by investing even long term through buy & hold I also put my investments at risk because I don´t know whether stocks or coins 10,20, 30 years from now will still be existent but that again is the reason behind diversifying your investment portfolio into different asset classes with different risk exposures.

If you still think about investing short term or trading on a weekly or daily bases take a look at these 2 youtube channels I stumbled upon. They seem to me as genuine trading guides that show you what to look for, what trading patterns there are and when to invest with less risk of loosing eveything.

High Altitude Investing

TheChartGuys

What do you think about daytrading cryptocurrencies? Leave a comment below.