Been involved in the crypto market about 18 months and getting back into it this year after not doing much at the end of last year. I am trying to figure out the best straggly for building my portfolio with the aim of 20x my investments is euro terms by year end by trading, long term investments or staking
Since doing more trading in the last few months I have noticed a pattern. I seem to be able to double small investments in shit coins quickly like in a week or so and get 30-50% gains in a few days but cant compound that long term or with higher amount of cash. When I say low amount of cash I mean like 50. I have one investment of 50 and based on current estimates I should have doubled that in a few days
Now obviously if I could compound that weekly or monthly it would be amazing but cant do it. Heck even if I could double 1000 every month and remove profits it would be life changing.
Any advice on moving to the next level or what I need to look at in order to reach my goals
Firstly trading it's foremost psychology. Trading on 50 euros is psychologically easier than 1000 euros or 10 000 euros. The fact is that if you do not have the concept of money management and risk management, then in the long term (1 year) you will lose your deposit. Although at short range it may seem like you are earning. During the first year of trading, try at least not to lose money. 30-50% per annum is considered very worthy. Do not think about x20, otherwise you will lose everything and remember my words.