Anyone got a crypto method for raising start up cash?

Matt Intrepid

Matt Intrepid

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Hey, I'm lookng to make some start up cash. I have built and maintained a crypto portfolio - both hot and cold wallet located.

I'm hoping I can leverage my experience with and investment in crypto to make a small amount every day to fund my AM journey.

Is there anyone here who is a day trader/speculator in crypto who has used this as a method to earn start up money?
 
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I'm a day trader of crypto. If you've not day traded or have very little experience in real trading, take this advice. You'll not learn enough in a short period of time, to get your new venture off the ground. You have to put in the time before you can make the dime. Minimum one year of practice trading with very small amounts or a paper account.

Additional points
1. What works for me may not work for you. 1000+ indicators to choose from and everyone has their own method. So you're likely to get a diff answers from everyone. But anyone trying to adequately explain how they look at candles, compare with volume, and cross compare with VWAP, EMA, and RSI isn't going to translate well to your success. You've got to put in serious time. Minimum of 1 year to figure out what works for you. Test and retest. Over and over. Take good notes. What works. What doesn't.

2. Everyone has their own style of trading because our lives are so different. Example, I can sit and watch the charts all day long. Can you? If the answer is no, it's even more likely my day trading strategies aren't going to work for you.

3. Day trading crypto is very high risk. Even higher than trading stocks for a number of reasons. But I'm sure you know that already since you have a portfolio.

4. You may get lucky here and there, but very few people can consistently turn a profit day trading crypto, especially in a bear market.

5. Most crypto exchanges don't allow short selling, so you're going to be limited in tools to turn a profit and take full advantage of the market.
 
CryptoKujira said:
I'm a day trader of crypto. If you've not day traded or have very little experience in real trading, take this advice. You'll not learn enough in a short period of time, to get your new venture off the ground...
Click to expand...

Thanks CK for advice. I have toyed round with day trading with a practice account on Bittrex and Investopdia. But yeah, got the impression day trading is a steep learning curve.
 
Investopedia is a great start. Start with the basics.

First, study candle bars. What are they? Where did they come from? What can they really tell us beyond, high, low, opening, closing.

Next, learn some basic candle patterns. Start with easy ones. Bearish engulfing, bullish engulfing, hammer and doji. Watch videos. Take notes. Then go to tradingview(.)com, look at the past candle charts for BTC and ETH. Can you find the patterns you just learned. Once you find them, did they hold true? Did they accurately predict what happened next?

Next, learn some more candle patterns. Maybe hanging man and shooting star. Do the same thing as above.

That should take you at least a month. Study like mad.

After that, start learning basic indicators, so at least you know what they do, how they work. Start with MA and EMA. Easy. Again, watch videos, and study. Next, try MACD, and then RSI. Again, go to charts, turn on indicators, and study. Did they hold true? Did they accurately predict what they were supposed to? And how often were they true? For example, if RSI is showing oversold conditions 3x on a chart, was it right 3/3? Or was it right 2/3 or worse yet, 1/3? Again, take notes. Write things down. Make a spreadsheet if you have too. Gather research numbers. Get a feel.

When you think you've got all that down, remind yourself you don't. Then review everything again. Study more charts. Then get back to me and we can go from there.

For videos, try trading212 on youtube. Load their video channel, scroll to bottom for first videos. They have great tutorials for beginners. Very concise and to the point, unlike this long reply. Lol
 
Last edited:
CryptoK is giving solid, sound advice for once on this forum. Most of these crypto kids have no idea what they are talking about. I left IM(BHW) about 3 years ago because I found my natural ability in day trading. It has literally taken me years, even with a natural advantage over some people.

There's a reason why there are few successful traders out there, and 90% of people take it up, blow their account, and then move on to something else.

My personal advice is give it a shot. But not with your life savings. See if you are really strong in any of these skillsets. If you are, you could be successful.

  • Technical Analysis (being a pro at reading charts and understanding the statistical probabilities of something happening or not)
  • Fundamental Analysis (understanding the underlying reasons why price moves)
  • Sentiment Analysis (understanding people's emotional reasoning for buying/selling instruments)
  • Bonus skill: understanding programming enough to create automated trading systems that can optimize across several possible combinations of trade parameters

I happen to be a pro at #1 & 4, which is what I attribute my success to.
 
One method I did locally, was to host an "Intro to Crypto" class.

- What is it
- Why is it important
- How do you get invloved
- and so on.

It was a one hr session, 10 - 15 people.

The class was "Free" but you had to do an initial investment of $100 in to coin base with my affiliate link ($10 sign up free for me).
In the class we would sign up for binance (*Using my affiliate code). They would transfer the coin base funds to binance and we would do a few small trades to get them in the swing of things.

So you would 1, get the $10 in BTC sign up on Coin Base, then you would get a small commission each time they did a trade... for life~! .

You could also up sell other Affiliate services to offer them in the session.

That is just one way, I bet you could do this as well over a webinar with more people.

Hope this gets you thinking in other ways.

Cheers
 
CryptoKujira said:
Investopedia is a great start. Start with the basics.

First, study candle bars. What are they? Where did they come from? What can they really tell us beyond, high, low, opening, closing.

Next, learn some basic candle patterns. Start with easy ones. Bearish engulfing, bullish engulfing, hammer and doji. Watch videos. Take notes. Then go to tradingview(.)com, look at the past candle charts for BTC and ETH. Can you find the patterns you just learned. Once you find them, did they hold true? Did they accurately predict what happened next?

Next, learn some more candle patterns. Maybe hanging man and shooting star. Do the same thing as above.

That should take you at least a month. Study like mad.

After that, start learning basic indicators, so at least you know what they do, how they work. Start with MA and EMA. Easy. Again, watch videos, and study. Next, try MACD, and then RSI. Again, go to charts, turn on indicators, and study. Did they hold true? Did they accurately predict what they were supposed to? And how often were they true? For example, if RSI is showing oversold conditions 3x on a chart, was it right 3/3? Or was it right 2/3 or worse yet, 1/3? Again, take notes. Write things down. Make a spreadsheet if you have too. Gather research numbers. Get a feel.

When you think you've got all that down, remind yourself you don't. Then review everything again. Study more charts. Then get back to me and we can go from there.

For videos, try trading212 on youtube. Load their video channel, scroll to bottom for first videos. They have great tutorials for beginners. Very concise and to the point, unlike this long reply. Lol
Click to expand...

Long term profitable trading of crypto or forex is not possible unless you are into the influencing circles of one of those commodities/imaginary goods trading there. Stocks are a tad different due to the nature of the market/goods and profitable strategies are possible, though nothing ground breaking as a ROI.

Technical analysis and fundamental analysis (without the inside edge) of crypto/forex DO NOT work as a predictive tools. They can't predict future events better than 50/50 in the long term. If you find yourself in the black in any point of your trading endeavor you can safely attribute it to a positive variance and nothing else. Take it as you wish.
 
redjebo said:
Long term profitable trading of crypto or forex is not possible...
Click to expand...

You bring up a lot of great points. I agree for the most part with all of them. But I do believe there are windows of opportunity that present themselves. Where, even in a bear market, one can be profitable. But yes, very difficult and 99.9% probably can't beat the 50% mark. The challenges to overcome are too many to list.

In a strong bull market, it's quite a bit easier of course.
 
Network with investors, tell them about your project and what solution you can provide.
 
CryptoKujira said:
Investopedia is a great start. Start with the basics.

First, study candle bars. What are they? Where did they come from? What can they really tell us beyond, high, low, opening, closing.
Next, learn some basic candle patterns. Start with easy ones. Bearish engulfing, bullish engulfing, hammer and doji. Watch videos. Take notes. Then go to tradingview(.)com, look at the past candle charts for BTC and ETH. Can you find the patterns you just learned. Once you find them, did they hold true? Did they accurately predict what happened next?

Next, learn some more candle patterns. Maybe hanging man and shooting star. Do the same thing as above.

That should take you at least a month. Study like mad.

After that, start learning basic indicators, so at least you know what they do, how they work. Start with MA and EMA. Easy. Again, watch videos, and study. Next, try MACD, and then RSI. Again, go to charts, turn on indicators, and study. Did they hold true? Did they accurately predict what they were supposed to? And how often were they true? For example, if RSI is showing oversold conditions 3x on a chart, was it right 3/3? Or was it right 2/3 or worse yet, 1/3? Again, take notes. Write things down. Make a spreadsheet if you have too. Gather research numbers. Get a feel.

When you think you've got all that down, remind yourself you don't. Then review everything again. Study more charts. Then get back to me and we can go from there.

For videos, try trading212 on youtube. Load their video channel, scroll to bottom for first videos. They have great tutorials for beginners. Very concise and to the point, unlike this long reply. Lol
Click to expand...
I have a feeling you could make a great crypto teacher. Thank you very much for all the information :-)
 
web_riches said:
One method I did locally, was to host an "Intro to Crypto" class.

- What is it
- Why is it important
- How do you get invloved
- and so on.

It was a one hr session, 10 - 15 people.

The class was "Free" but you had to do an initial investment of $100 in to coin base with my affiliate link ($10 sign up free for me).
In the class we would sign up for binance (*Using my affiliate code). They would transfer the coin base funds to binance and we would do a few small trades to get them in the swing of things.

So you would 1, get the $10 in BTC sign up on Coin Base, then you would get a small commission each time they did a trade... for life~! .

You could also up sell other Affiliate services to offer them in the session.

That is just one way, I bet you could do this as well over a webinar with more people.

Hope this gets you thinking in other ways.

Cheers
Click to expand...

Wow, that's actually amazing! You can even do this multiple times a day if you find enough interested people.

I'm kinda surprised i^ve never seen this in "Making Money" since it's so straightforward and simple.
 
LastKings said:
I'm kinda surprised i^ve never seen this in "Making Money" since it's so straightforward and simple.
Click to expand...

But why would someone want to invite others to the party? You only get one chance per person to get them to sign up as an affiliate with an exchange. So it's vital to get to them before some other crypto-teacher does.
 
CryptoKujira said:
But why would someone want to invite others to the party? You only get one chance per person to get them to sign up as an affiliate with an exchange. So it's vital to get to them before some other crypto-teacher does.
Click to expand...

Well, i was thinking only on a local scale since i don’t think alot of people from BHW live right beside you.

And depending on the country you live in there is even a greater chance that there are more than enough people who know nothing about crypto.

Now even if some of them already have an Coinbase account, there is still a big chance they are not on Binance yet and i think that’s were the most money will come from since you profit for lifetime from every trade they do.
 
I am hunding airdrops i made some money but not much , the best method is to buy new cryptos that will raire and put 10$ on each choose 10 or 20 and wait i did it with xrp and got some money from 0.00025 cents to 2$
 
For accumulation i would recommend looking for solid alts / btc or eth pair. They tend to always move in a top and bottom frame which is easy predictable.
 
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