crypto currency investing, anyone?

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diymirage

diymirage

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evening fellows


i was chatting with some friends and the topic of crypto currency came up
i figured i had a little bit of money in the bank i could invest so i did that

i got to tell you, this aint for me, to volatile, i feel like im on a roller coaster



anyone got any tips for me?

for instance how to read the stinking chart?
it might say

MOPAR $7.34
+3.41

BUT from when does it count the +3.41 ?

i got a few stocks that read positive, but the value is LESS then i bought it for
and i got a few that are negative but they are worth MORE


oh, and how long do you usually hold stocks before switching them out ?
 
This is right up there with great deals from Nigerian princes and a bridge in Brooklyn that I happen to have title to...
 
I don't believe in gambling. Investing is one thing but this is Gambling. What does the word "crypto" mean, should tell you something about it right there.
 
The +3.41 is how much the value has changed since the trading day-opening.
Generally, you hold stocks (regular ones) just as long as you believe in the succes of the company behind it.

If you just want to day-trade, or buy/sell on every change in the market-price .. well good luck, it will drive you crazy if you're inexperienced (and most likely cost you a lot of money in the process).
 
No one can give you that advice brother. All investing strategies are personal in nature. Performance goals, time horizons, and risk tolerance are all things that have to be considered. Best to learn the basics, and figure out what works best for your goals.
 
My son has invested in crypto currency & has made some good money. However, as has been said above, it is basically gambling. It has no underlying value. People buy it because they think it will go up.

If you are a risk taker, It might not be a bad idea to put a little money in it. But you have to go in with the understanding that it is probably about as likely to go to zero as it is to go up substantially. Don’t put ant money in it you are not willing to lose.
 
Mike69cuda said:
My son has invested in crypto currency & has made some good money. However, as has been said above, it is basically gambling. It has no underlying value. People buy it because they think it will go up.

If you are a risk taker, It might not be a bad idea to put a little money in it. But you have to go in with the understanding that it is probably about as likely to go to zero as it is to go up substantially. Don’t put ant money in it you are not willing to lose.
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We went in knowing that if we loose this we will be OK
and if we double our money, we pull out the initial investment and let it ride

I just never dabbled with investing before and this seemed like an option
 
I spent $50 on Dogecoin when it was $0.04. Its at $0.20 today. I dont ever expect to see the money. Its more of a science experiment. I just checked it for the first time in months because of your post. Someone said to me recently that the market spikes a little at the end of the year. Maybe check that info, but stuff might be cheaper in the beginning of the year?
 
clementine said:
I spent $50 on Dogecoin when it was $0.04. Its at $0.20 today. I dont ever expect to see the money. Its more of a science experiment. I just checked it for the first time in months because of your post. Someone said to me recently that the market spikes a little at the end of the year. Maybe check that info, but stuff might be cheaper in the beginning of the year?
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Never heard of market fluctuations based on time of year
But then again, I really don't know anything about this

(But I DO know I would like to see a 500% profit like you saw.
then again, earlier this month it was at 0.34 so that's also a significant drop)

What makes you wonder you will ever see it, can't you simply cash out?
 
diymirage said:
Never heard of market fluctuations based on time of year
But then again, I really don't know anything about this

(But I DO know I would like to see a 500% profit like you saw.
then again, earlier this month it was at 0.34 so that's also a significant drop)

What makes you wonder you will ever see it, can't you simply cash out?
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Yeah, but IF it goes big like bitcoin, I would have only risked $50. Im not good at this man, dont listen to me. I know the talk of sell and then buy.......but I really dont care what it does......unless it goes big...which I highly doubt. I have had that schtuff since last April....ish?

The logic behind the 'end of year' was that traders/money mngmt people somehow affect the market to make a gain at years end to look good to their shareholders....sounds like guesswork to me.
 
clementine said:
Yeah, but IF it goes big like bitcoin, I would have only risked $50. Im not good at this man, dont listen to me. I know the talk of sell and then buy.......but I really dont care what it does......unless it goes big...which I highly doubt. I have had that schtuff since last April....ish?

The logic behind the 'end of year' was that traders/money mngmt people somehow affect the market to make a gain at years end to look good to their shareholders....sounds like guesswork to me.
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Well, let's see how math is
You bought $50.00 worth at 4c a piece, that's 1250 of em that are yours

Let's say they jump like bitcoin did, that one is at $54.000 a piece, times that by 1250, that's 67.500.000
I'd settle for that



As for the "method"
This is what comes to my mind, when I think stock market


 
RustyRatRod said:
ehhhhh....no. Not this honky.
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But I need it to finance my blower build

tenor-8.gif
 
The statistical model for an investment counselor is a monkey throwing darts at a board full of stock names…..
 
I'd probably have to have some money 1st to invest in anything
 
AND I did the deal through 'robinhood'.........so who knows if they let me get at the money if it amounts to anything in the end. I consider it all a roll of the dice.
 
clementine said:
AND I did the deal through 'robinhood'.........so who knows if they let me get at the money if it amounts to anything in the end. I consider it all a roll of the dice.
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Maybe you'd have luck playing craps on the corner of Edgar & Dave lol
 
Mike69cuda said:
My son has invested in crypto currency & has made some good money. However, as has been said above, it is basically gambling. It has no underlying value. People buy it because they think it will go up.

If you are a risk taker, It might not be a bad idea to put a little money in it. But you have to go in with the understanding that it is probably about as likely to go to zero as it is to go up substantially. Don’t put ant money in it you are not willing to lose.
Click to expand...
My son ain't like me. He caintvsoun a wrench, he just bought a brand new bootie truck, but at 27, he built a Freight Truck company in Birmingham. He also build a few home computers that " harvest" bit coin. Makes an average of 900 a month, extra from that. That's all i know
 
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The Stock mkt, like everything else has rules to learn, requires strict discipline, - enuff to control your emotions.
Gambling is putting your money down, you win or lose at the flip of a coin, roll dice, lottery, money's gone.

The Stock market you can sell anytime.
If you have the discipline to recognize the stocks not doing what you want, - admit you made a mistake, and sell before you lose more.
There's a setting when you buy your stock, a "stop loss" that you set to automatically sell your stock if it goes below a predetermined price.
There are other software/strategies to limit loss.
I use charting, when one line crosses another, is either a buy/sell trigger.
I usually sell 1/2 my holding of a particular stock when it doubles.
I posted some stocks about a year ago, and 3 or 4 of those have doubled..
Losing is common, limiting your losses, and cash preservation is the #1 rule.
I play the market every morning I'm here . Started in the 1990's . I was one of those "pesky Daytraders" that "caused" the Dot-Com bubble .
Good Luck .
 
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Ironracer said:
My son ain't like me. He caintvsoun a wrench, he just bought a brand new bootie truck, but at 27, he built a Freight Truck company in Birmingham. He also build a few home computers that " harvest" bit coin. Makes an average of 900 a month. That's all i know
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I researched crypto currency’s awhile back. It is pretty mathematically complex. I didn’t understand most of it. From what I understand, crypto currency’s exist on a world wide network of mostly private computers that process crypto “transactions”. These transactions are the movement of crypto currency. These private computers process complex mathematical equations necessary to maintain the security of the currency.

The private computer owners get paid in crypto currency for processing transactions on their computers. So more money is “printed” daily.

The crypto currency is backed by nothing, but then again so is the dollar…..
 
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