Double your money in DAYS, not years
Yes, trading crypto can be high risk; however, it is also high reward. Some would suggest that any activity is risky, unless you know what you are doing! Hopefully, you would not try to drive a car, or use a power tool without being shown how to do it first.
The Rule of 72
Traditionally, economists and financial advisers used the "Rule of 72" when making forecasts. This constant was a way to calculate how long it would take to double your money, given a specified rate of return.
For example, if an investment was returning 6% compound interest, it would take 12 years for your money to double (72 divided by 6 equals 12). If another investment was returning 12%, then you could expect to double your money in only six years (72/12=6).
When banks were paying 4% interest on cash, you could calculate it would take you 18 years to double your savings. Obviously, inflation would erode your purchasing power, but if inflation was running at 2%, it would take 36 years for prices to double, so you would be mostly OK.
The problem in 2021 is that banks will pay you 1% or less on cash, so it would take a lifetime to double your cash in the bank. Inflation is also a growing spectre as central banks print dollars like crazy in a QE overreaction to the pandemic.
You know that some cryptocurrencies have gone up 100% or 200% in the past twelve months, and perhaps some of your friends have been buying and HODL'ing long enough to see their investment double in a year or less.
But what if you wanted to double your money in a few months? That is where we could look at day-trading crypto. Successful traders can make money when coins are going up, as well as when they are going down. Sometimes they can make a LOT of money in a short space of time.
In the above picture, the Ripple coin XRP has gone down around 20% in a single day, yet the trader has made 200% profits. This was a combination of a "short" strategy and using leverage.
In February 2021, when Elon Musk announced Tesla dropping $1.5 billion into bitcoin, BTC price rose 12% in a single day. Some savvy traders made over 150% on that same day, using a "long" strategy and some leverage.
Here you can see a short video of simple trading strategies, which shows how to protect your position, so that you do not lose so much if the market turns against you.
It may have seemed simple enough to watch your parent or guardian driving a car when you were young, but it is only when you get behind the wheel that you realise it takes a lot of practice to be a good driver.
We can show you a simple overview of trading in practice, but to get a world-class education in learning how to double your money in a few weeks or a few months, you will need to pay for a training course.
There is a lot of free information on Youtube, but be warned that if it is free, it may be essentially worthless, biased or unreliable. This is your hard-earned money we are using, so invest a few dollars into making sure you get the best education available.
We recommend the MBA course, which has hundreds of hours of video training, as well as 5-6 live Zoom calls every week. You will likely be on a live call with a few dozen people, or up to a few hundred people, learning from some of the best trainers, with a supportive community.
Learn from the best, then paper trade or demo trade for a while, risking fictitious money, until you get the hang of it. Once you feel that you have the theory down, you may like to start by investing $1-2 per trade, and practising small. This is like driving at 30-40km/h when you first start driving. If you screw it up, you will only lose $1-2, and who knows? You may just have some $5 wins along the way. Once you have mastered the art of trading with $1-2 a trade, then you may feel ready to move up to risking $5 or $50 or even more on a trade. Learn with spaced repetition, have a trading buddy as well as a few mentors, and soon you will be "making bank" and posting your success stories.
Use this link to access some world-class training, and be part of the group who wants to see you win.