Hello everyone,
I've been getting more and more serious about crypto trading. I started off about a year back here and there. Made some money trading small amounts and getting lucky a few times.
Made some money with STR too.
I've been floating 1-5BTC for the past year or so. Putt some money in, make some profit, take my principal out, risk a percentage of the profit --> repeat --> repeat.
Today however I decided to buy around 10 thousand $ worth of BTC. Quite a step up for me, probably not for some of you, from dealing with around 5BTC(around 1500$-2000$ worth at any given time). The price is so low I couldn't resist. I plan to hold out until the price increases. Meanwhile I'm trading some other crypto with calculated risk.
I'm not too greedy so I usually get 5-10% of my principal out after I make 5-10% profit. Until I get all my principal out.
What advice do you have for somebody like me? Whatever I'm trading with I'm prepared to lose, I know that is the golden rule. I'm also curbing my greed as much as possible, I'm willing to take risks, too.
Well it seems to me, that you have done your homework and that attitude is not a risk to you.
What I would advise you to do is to take good care of 2 things.
1. records & taxes
2. your banking connection.
-->if you trade more volume in shorter timeframes, you will want to talk to your bank first and tell them beforehand or soon enough. maybe even use a seperate bank for your trading.
I had to learn that the hard way and lost some weeks of trading, because my bank accounts were frozen and all my capital was locked in by my (ex-)bank.