crypto currency investing, anyone?

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Righty Tighty said:
Agreed. Learning to read a candle chart is easier (to me) than understanding how a torque converter works.

My mutual funds have done incredibly well, considering the effort I put into them. Stable, secure growth without the legwork? Sign me up.
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If you knew what you were giving up over time in fees, you might feel differently.
 
crackedback said:
If you are going to trade anything, learn to read a chart. My suggestion is learn about supply/demand zones, support/resistance levels, standard deviation levels and learn how to draw trendlines. Yes it even works on crypto. Most all markets are not driven by retail participants like people in this forum. It's computer, algorithm driven.... millions of calculations going on based on split second action.

Here is an example of support/resistance levels. Nasdaq Futures 4 hour timeframe. You go from a wide view and narrow down to a 1-3-5-15 minute chart to dial in the level more precisely.
View attachment 1715828840

All those levels were drawn to the left of that purple line, before anything happened on the right side of line. The market works in cycles. A move in this particular vehicle from the lowest green line to highest red line = approx $9200

The other thing I will never understand, retirement accounts and investments are usually the biggest assets most people have excluding their home, yet they take no interest in the process. Hand it blindly over to someone else to manage... crazy.

Most mutual funds suck when compared to the benchmark they follow. If you have an SP500 mutual fund, just by the SPY etf/stock... less fees and you can do things like sell covered calls to juice returns. Simple stuff, reinvest dividends and move on.

My mom got sucked into the annuity trap... safer return BS. Instead of having 10x the money she would have if she followed my suggestion, she had 3x... Yep safety is garbage if your time horizon is longer. She grew up at the end of the depression era and feared losing all her money. I got that. If you have a pension in retirement, stay away from the lure of "Safe" returns... Just my 2 cents.
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Agreed. I self manage my 401k. I’m up year over year, 42.39%. Company average is 6.81%.
In 2020, I made some good moves to secure my balance right before the markets crashed in March. While most people went deep into the red, I went up 3 percent. Then by the end of the year, I was up over 20 percent.
 
If you are truly interested, most Banks, Financial institutions that have Brokerages, usually have a tutorial/educational section with a "play" account, so you can practice and see how you do.
No Charge .
 
inertia said:
If you are truly interested, most Banks, Financial institutions that have Brokerages, usually have a tutorial/educational section with a "play" account, so you can practice and see how you do.
No Charge .
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Investopedia has a free online simulator
 
I like how lately, everyone has become more interested in NFT and cryptocurrency. It is a fascinating subject if you want to earn large sums of money and invest for a more extended period.
 
GregoryGibson said:
I like how lately, everyone has become more interested in NFT and cryptocurrency. It is a fascinating subject if you want to earn large sums of money and invest for a more extended period.
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Perhaps so. But buyer beware
 
dukeboy_318 said:
Agreed. I self manage my 401k. I’m up year over year, 42.39%. Company average is 6.81%.
In 2020, I made some good moves to secure my balance right before the markets crashed in March. While most people went deep into the red, I went up 3 percent. Then by the end of the year, I was up over 20 percent.
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To follow this up. In January I saw the writing on the wall, made some changes. Year over year, I’m only up .35 percent. However, the company average right now is -36.45 percent. So I’ve stayed flat, they’ve dropped. That said, I’m riding this out thru September/October. I see a lot of similarities to the 08 crash lead up. I think next month will be horrible stock wise.
 
I'm not interested in any thing I can't touch, I can touch my rental houses.
When the **** hits the fan, if you're heavy into crypto, you will have nothing!
 
I just watched a documentary.
Google Gerald Cotten
He ran a bitcoin company until he went to India, faked his death and disappeared with a ton of money.
 
Brooks James said:
I'm not interested in any thing I can't touch, I can touch my rental houses.
When the **** hits the fan, if you're heavy into crypto, you will have nothing!
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Agreed. That’s why you diversify. I’ve not been able to break into the real estate market here. I’d like too but don’t have the ability or patience in dealing with renters at the moment. I am looking at an AirbNb opportunity however
 
Brooks James said:
Yes he's getting while the getting is good. All good things must come to an end
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Crypto is here to stay, that said. I think the days of turning 100 bucks into billions is gone. I also think as a recession sets in, crypto will plummet for a while. Killing a lot of the “alt coins” but the major coins like Bitcoin and Etherum and a handful of others will survive, probably see their values plummeted 90 percent but on the opposite end, I think they’ll climb drastically as the recession regains traction. It’s a long game and I’m definitely not buying as much. Granted I operate on the 10 percent net worth rule, my goal is 10 percent net worth in silver/gold/ platinum, physical metals that I can hold in a safety deposit box or three(yeah I’m paranoid lol) , 10 percent in crypto, 10 percent in Drip funds and bonds, and the rest in my 401k as a Roth. I’m not quite there yet but that’s the goal . I’m in my mid 30s and have some time but my goal is to retire by age 45. We shall see
 
I bought $20 in Bitcoin mixed with a few others and it tanked immediately and stayed there.

Y'all can thank me for that
 
jos51700 said:
I bought $20 in Bitcoin mixed with a few others and it tanked immediately and stayed there.

Y'all can thank me for that
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A year ago I bought 20 bucks of Shitcoin and turned it into 2300. Paid for Christmas that way lol
 
What about investing in yourself, ie pay down your debt such as your home, vehicle's etc. We had a new home built in '07 and we paid it off in may of '11. We took what we made off the house we sold and put it on the new one, paid off 90k in 4 years.
 
Ironracer said:
Well, in St Pete, where whatever Pro teams Stadium I don't pay no mind to is, is pretty rough too
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That's probably Tampa Bay Rays.
I like baseball.
The team ownership must pay the freaks to stay away pre game, but boy they're out in force at night. All over the city.
 
Dan the man said:
What about investing in yourself, ie pay down your debt such as your home, vehicle's etc. We had a new home built in '07 and we paid it off in may of '11. We took what we made off the house we sold and put it on the new one, paid off 90k in 4 years.
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Best advice in the universe.
Although it helps to make a lot of money to do that .
 
Brooks James said:
I'm not interested in any thing I can't touch, I can touch my rental houses.
When the **** hits the fan, if you're heavy into crypto, you will have nothing!
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Id tell the renters to clean that **** out of the fan
 
MOPARMAGA said:
Best advice in the universe.
Although it helps to make a lot of money to do that .
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I made 60k to 70k on my job, depended on the ot I worked. Father in law passed away in '09 and I put that money in a cd and when it matured I paid the house off. The principal on the house was only $25 a month so I made extra payments and in the 1st year I had 4 years paid on my home. I think a good investment is gold and silver, all precious metals. Don't put all your money in investments, leave out cash that you can get ahold of quickly if needed,
 
Dan the man said:
What about investing in yourself, ie pay down your debt such as your home, vehicle's etc. We had a new home built in '07 and we paid it off in may of '11. We took what we made off the house we sold and put it on the new one, paid off 90k in 4 years.
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There’s that too.
 
Brooks James said:
I'm not interested in any thing I can't touch, I can touch my rental houses.
When the **** hits the fan, if you're heavy into crypto, you will have nothing!
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Yessir, Non tangible assets, to me, ain't real. Unless, well, they’re silly cone... lol. My son home built a computer just to harvest Bitcoin he don't do a thing to it it just runs by itself he makes an extra $900 a month doing that... to me if it is not physically in my hands, or in my possession, or something like that, I just don't wanna do it. And of course it takes money to make money, I've got 10 k in tools and a Lifetime of knowledge in Remodeling, Repairs, and Construction. The influx of foreign labor kind of makes that worthless a lot of times...... and with these things going on at the border I foresee my skill set and tools getting pushed over on into the dumpster somewhere
 
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