mercury_wisdom said:
Stormblood said:
It's not really convenient to invest anything in this period. Have you ever thought about trading digital currencies and foreign currencies? If you haven't, before you do, you should learn about risk management, otherwise chances are you'll lose more money than you make, then come whining about being scammed when you just made newbie mistakes. The foreign exchange market is a $6.6 trillion market, which means that amount of money is traded daily; the digital currency market is a multi-trillion market too. Banks trade on both markets. That's what they do with the money you give them when you open an account with them and it's the reason why you can't withdraw 100% of your account, but you always have a set maximum daily amount you can withdraw. Both markets are currently more lucrative than stokes and shares. 10-15% a year is a joke. You should be making 10% a week.
Do you have legit resources where I can learn this for beginners? This is basically forex trading right? I've seen a lot of scammers and marketers scamming about this.
10% a week is nice but I am sure if I actually do it, it won't be easy. I am interested to learn about it though.
The covid situation is doing a lot of damages to a lot of companies. If companies/businesses go in losses, bankruptcy and so on, it's not really convenient to have money invested in their stocks, shares and so on. You'd only lose money. That's why I suggested working with currencies.
Forex and crypto, yes. There are a lot of scammers around. If anyone ever comes to you and they tell you to give them $300 (or whatever) and they're going to give you back $3150 when the trading week is over (Mon-Fri), never do it of course, as that's a huge red flag. You should, instead, learn to trade on your own. Yes, there are educational sources for beginners. Don't use YouTube, as that will only generate confuse and most likely make you lose money. You can find my email address in one of the links in my signature if you want me share some educational resources privately. As far as I know, no effective educational resources are for free, but I can provide a few basic stuff from some educators for free on YouTube. YouTube is like a maze. You need to know what channels to go to if you want the right information. A simple process is to go like this:
1. Learn about trading and risk management
2. Practice a LOT on a demo account until you're confident
3. Open a live account with a good broker.
4. Start trading but never risk more than 1-3% of your account per trade. Stop when you've used a maximum of 8% of your account balance in a day. There are many other things to know about risk management. The other main principle is to make sure that you always profit much more than you lose, so you're always in the green. If someone claims even 70% or more in accuracy, you know they are liars. By accuracy I mean the trades that are profitable... Obviously, some of us can manipulate their personal stats using witchcraft, but those who do don't go about advertising it.