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/biz/ - Business & Finance

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28397385 No.28397385 [Reply] [Original]

hey biz bros

I need some strategies for a no coiner poorfaglett who just bought his first $100 worth of btc
I've been poor my entire fucking life, my boomer parents are completely useless with money; grew up during the best economy, both professionals with high income, both ended up with no savings and no assets, both came from poverty

I need to break this cycle or else im fucked

I know there is 0 chance of short term gains for poorfags, so what kind of long/mid term goals should i set for myself

>> No.28397586

>>28397385
this board doesn't work like this. You have to lurk and read and learn on your own. One important advice: check the market cap of the coins shilled here, if it's too low it's likely a scam

>> No.28397762

>>28397586
noted, thanks

>> No.28398146
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28398146

>>28397385
im not too far ahead of you anon just start by making a list of coins that are less shitcoin than others and learn what they are, then keeping an eye on those. most curry munchers here will just tell you to buy some fucking animal coin just ignore those. 100 isnt much to diversify with but you can swing that 100 around to others in your list when they look like they will rise, biz is actually not too bad at calling those. dont day trade between pump and dump pajeet coins or youll drive yourself insane.

>> No.28398773
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28398773

>>28398146
thanks anon, these are the coins ive been watching last few days
my current plan is to deposit a slice of my shit wage every fortnight and buy maybe 2 or 3 coins

>> No.28399058

>>28398773
yep same gotta start somewhere, also try not to dump all your coins out of boredom to chase some green candle somewhere else, i did that yesterday dumping GRT, kicking myself now

>> No.28399405

>>28399058
yeah ive already noticed the crippling fomo and almost panic bought into a few shit coins

>> No.28399842

>>28397385
Im new too. I set myself of budget of $650 to invest in crypto. Most of it is in Doge but I put some into BTC and ETH as my "safe" investments. Im trying to profit a little of Doge before diversifying into other non-poo coins.

>> No.28399855

>>28399058
I did it twice and surprisingly it worked with the graph

>> No.28399905

>>28397385
I'm pretty bored so here you go with some basic tips.
Don't trade fiat markets, accumulate BTC not USD, trade BTC markets.
Find a system that works for YOU, even "dumb" stuff like EMA can be useful. Make up a theory, backtest it on a few market pairs and try to make a paper prediction based on your system.
Always account for things going against you - always have a stop loss placed. Do not risk more than 2% of your stack, meaning place you stop loss in a way so that you lose maximum 2% of your total money.
Always take some profits if you can, even if you think something is going to moon more, take at least 1/3 or 1/2 profits now while it is profitable.
Be prepared for loss, don't give up. You need to experience loss first to learn to avoid it.

>> No.28400335

>>28399905
One more - do not put into trades more than 10% of your total stash at one time, that means at 2% per trade thats 5 open trades.
If you somehow lose 10% in a month take a month break.