Hi everyone, Just starting out on the trading journey, looking for a partner in crime to do it together. I'm based in Lausanne, Switzerland, but probably won't find anyone here, as nothing happens here, so looking for online collaboration. I'm currently considering cryptocurrencies and algorithmic trading, and my current goal is to learn and boost my skill as to reach at least 10% monthly or 2% daily ROIs on day/week trading consistently. Looking for someone willing to learn with me, and to have weekly Zoom calls to share our learning experiences and insights (maybe group calls if there are many people interested?). I don't know what I am doing but I am having fun doing it – if you also feel like having fun and making profit, send me a private message
Hey, just so you know, it might happen for a month or two, but to stay consistently throughout the years like this, it's kinda, - impossible, especially, given my guess, that most of the traders, probably, hardly had 20% for the whole 2022, while the crypto market was down 50%.
Wow, 20% is not much... How do people live off that? I assumed you build up expertise, commit a considerable amount of money, say 50k, and live off the trading by using your knowledge to mitigate risk and produce more-or-less stable returns? What do people live off if there's 20% return for the entire year?
I've only been trading and investing since late 2019 and have come to understand that the bar is set by whatever fund out there has to offer; if you can't beat them, join them. Some years are easy, others are rough. However, trading can also be a pastime. There are few activities out there that provide the adrenalin rush, particularly at 60, in my case. The advantage of trading as a pastime is it can both be taken seriously and with enough detachment that it isn't an obligation. You need to figure out what you're interested in trading, how much time you want to invest in this and how much money you're willing to lose.
between meeting a professional trader vs a thousand newbie traders, better meet a professional trader. All the best mister.
Exponential growth of account takes it to any figure you like if you keep at it year after year as long as strategy doesn't run into liquidity restrictions. Eventually, 20% of account will be a huge figure. Yeah, it sucks that it takes time if you didn't start out with large initial wealth, but the sooner you make peace with that fact the better.
Trading is not about having fun, it is about making money, although making money can be fun. I have been trading for a couple of years and it is self-taught, you will do your best learning by actual doing, and it will take some time to learn, months and years. I think that it is ill-advised to partner with another newbie because it will be the blind leading the blind, you can't be sure about the dedication level of the other newbie, and all sorts of issues will arise. If you need someone to prod you, poke you, motivate you into trading, then this is not for you. The desire to earn from trading comes from within. It is a passion. Read some books, read this forum, find a credible person to follow, and develop strategies that are profitable. I don't know what's going on with crypto, but right now I'd stick to the basics. Don't try to re-invent the wheel.
Well, Warren Buffet has managed to survive on 20%. I guess you just have to learn to live with that. "The simplicity and transparency of the Oracle of Omaha's investing strategy has led to an average annual return of 20.1% over 57 years." https://www.fool.com/investing/2022/05/30/10-reasons-warren-buffett-is-a-successful-investor/
Do you expect to pay 0% tax on the trading due to the 0% capital gains tax in Switzerland or do you expect to pay tax?
Honestly i dont think you're going to find professional help on here unless you pay someone. My best advice would be to stop worrying about the daily and monthly returns and just worry about the way you trade. Start off with the lowest amount you can start off with. Try turning 50 dollars into 60 dollars. These low amounts will help you learn and take away the emotions of trading while learning. I trade crypto myself and i can point you in the direction of some good mentors for free, send me a PM.