FX TRADING STRATEGY by Clem Chambers


POPULAR BITCOIN STRATEGIES


Tere is a rush to get into Bitcoin as the boom in cryptocurrency heats up. We are certainly in a boom and we may be in a bubble, but for now the sky is the limit.


… and you want in.


FOMO is driving millions of people and this is exactly the wrong reason to jump in.


Never get involved in an investment you don’t understand. Ever. Not stocks, not real estate, not lithium.


So the first step is to read up on Bitcoin. A couple of days of serious


20 FX TRADER MAGAZINE January - March 2018


reading should do.


Ten decide if the value is going up. If it’s no, then don’t get in. If it’s maybe, don’t get in. If it’s yes, then you are ready for the next step.


The next step


So then decide what you can afford to lose. If it’s $10, play with $10. If it’s $1000, then play with $1000. Don’t play with more than 5% of your net worth. Applying 2.5% of your net worth is more sensible.


For most people that is not a lot of


Te answer is, if you focus on the risks you might increase you stake by 10 times.


Now, if you now think: ‘wow I need to mortgage my house to play this game,’ you should stop reading now and walk away. You will lose your house and probably have no chance to increase your money by 10 times.


Bitcoin.


However, it is highly likely you will lose the lot.


You are now asking yourself, ‘why should I get involved if that is true?’


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