crypto currency investing, anyone?
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.
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.
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.
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.
