Am i being realistic wirh crypto??!!

Hi, so i started investements into crypto a few months back, i have tried to undestand the basics and how currencys work and all of that. Tested my profitability with small amounts of money + fee to deposit and withdraw. Realised there is never even close to a 100% chance of profit but there is a chance of 99% loss. Now i've been upgrading my testing with around £270 made about 50 profit after including other costs. I think i got the grasp of it but ofc not 100% and believe its possible to make £20 a day on a stable basis with ofc a few losses here and there. Am i being realistic. Is aiming for around 6% gain a day with losses here and there unrealistic and naive or am i estimating correctly.

Reply 1

qlam

3

Original post by robqttedcant

Hi, so i started investements into crypto a few months back, i have tried to undestand the basics and how currencys work and all of that. Tested my profitability with small amounts of money + fee to deposit and withdraw. Realised there is never even close to a 100% chance of profit but there is a chance of 99% loss. Now i've been upgrading my testing with around £270 made about 50 profit after including other costs. I think i got the grasp of it but ofc not 100% and believe its possible to make £20 a day on a stable basis with ofc a few losses here and there. Am i being realistic. Is aiming for around 6% gain a day with losses here and there unrealistic and naive or am i estimating correctly.

Aiming for 6% net gain on your portfolio per day is very very unrealistic. It may seem small in terms of $, but in terms of % it is HUGE and unlikely. You have to learn about risk/reward ratios, if you risk 1% per trade for a 2% profit, you need 3 successful trades that all hit take profit in a single day! Aim low, and look at the percentages, wanting to get rich quick won't get you rich at all.

Reply 2

robqttedcant

OP

10

Original post by qlam

Aiming for 6% net gain on your portfolio per day is very very unrealistic. It may seem small in terms of $, but in terms of % it is HUGE and unlikely. You have to learn about risk/reward ratios, if you risk 1% per trade for a 2% profit, you need 3 successful trades that all hit take profit in a single day! Aim low, and look at the percentages, wanting to get rich quick won't get you rich at all.

Thanks, that makes a lot of sense as 6% is huge and unrealistic so for now id say aiming lower should be my focus to slowly build up my investment capital rather than my %. Can i ask how much your making a day and how long u been in the market if u dont mind

Reply 3

NickoWick

1

Perhaps you need a little training on trading the crypto market and how to analyse chart like the banks do. send me a pm.

Reply 4

qlam

3

Original post by robqttedcant

Thanks, that makes a lot of sense as 6% is huge and unrealistic so for now id say aiming lower should be my focus to slowly build up my investment capital rather than my %. Can i ask how much your making a day and how long u been in the market if u dont mind

Currenty around 100$ a day but I used to make a lot more previously. I have been i the market since October 2021.

Reply 5

Spanx

18

So it shows how completely ill equipped you are, since you moved away from the 99% probability of making a loss. 🙂 It isn't like trading stock where there is something behind it with value... anyone can create a crypto and trade it and pretend its worth something... Hell look at Sam Bankman-Fried. Billions but worth nothing.

Just because it's been on the up recently doesn't mean it will continue to rise. You'd be just as likely to make a profit betting on the horses and planning your potential gains...

Reply 6

Helpmeedu

5

I am thinking of investing in a new crypto or making one, can someone who has any kind of expertise give me any kind of advice. Thanks in advance.

Reply 7

artful_lounger

Universities Forum Helper

21

Original post by Helpmeedu

I am thinking of investing in a new crypto or making one, can someone who has any kind of expertise give me any kind of advice. Thanks in advance.

Given that the stock market has just more or less crashed with investors dropping crypto and tech related stocks en masse, I think suffice it to say that the long term outcomes are a bit mixed.