We decided to go with the second most profitable method of trading.
As we had a pretty high risk profile, we decided to start with our initial margin position and then see how they do when we actually pull out.
The first 2 months were absolutely crazy. I’d be sitting down with my portfolio on my desk with 3-5% less cash on hand than I expected to. Since I had never worked in the cryptocurrency ecosystem before, I was extremely skeptical of the idea that there was going to be huge returns in the space.
In the second month, I had $3.5K USD of portfolio and a $4K USD of $20k USD of margin. Even taking a $2.5K loss, I got $17.2K (and I’m still making that today).
The numbers were insane.
Let’s take a closer look:
We’re still pretty bullish on XRP right now, and in the long-term, we’re actually very bullish on the whole market, as we’ll talk about in a bit.
A quick check of the margin position tells me that $4K of margin is still sitting there (but I’ve now put $5K of that away for the next year, and I expect it will continue to grow).
The $60k of cash we have is still sitting there at the same rate, so it’s still making a decent profit every day.
Of course, there are a handful of things that could have had an effect on our margin position in the first year (e.g, we wouldn’t have moved more aggressively when we got the market more liquid).
But at the end of the day, the results speak for themselves.
As a beginner, the most profitable way of trading is to trade a single trade at a time.
That way, you can see whether a trade is likely to add up to a sizable gain or make the biggest profit possible.
If it doesn’t, you can backstop yourself with a risk/reward strategy that uses your time, focus and discipline. Even if your margin position isn’t very profitable right now, it’s a risk worth taking to get to a position where it’s profitable.
There’s always going to be volatility in any investment and this is one of the biggest problems. While we’re getting a solid return right now, we were only trading with a couple hundred dollars worth of
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