Leading up to my first week I was watching videos and practicing trading. I have a notebook that I took notes in and tracked my progress up to this point. My first day ever trying was 9-14-23 I made some fake/made-up trades. 11 out of 13 were profitable and I "made" 1.009% profit in two hours and thirty minutes scalping bitcoin. On 9-15-23 I "made" 1.069% profit scalping Ethereum for 40 min. I took a break for a few days and opened an actual papertrading account on GoForex and over the next few days I've gained 400$ with a starting capital of $13,000 (32.5% gain). I plan on switching to trading views paper trader as it is a more complex site and I would like to try it out. I plan on setting my starting capital to $1,000 and seeing were it goes.
(9/29/23) - I'M A MULTI-MILLIONARE... let me explain. I was getting to know how trading views paper trader works and thought I would try some day trading. Well I thought I was typing in the amount of total money I would invest in Bitcoin but it was actually the multiplier. The multiplier is basically you borrowing the brokers money, say you have $1,000 and you want to trade with $100,000, you just multiply it by x100 and you are trading with 100k this makes trading more risky but risk=reward. So I typed in 100 because that is 10% of the amount I gave myself in the paper account. Well I actually bought 100 shares of bitcoin (about 2 mill), and it automatically multiplied my $1000 into the 2mill that was needed. I shortly realized my mistake when it showed I was up $700 on the trade in a matter of seconds and I held on to see where it would go. I ended up selling with a profit of $2600, so in one trade I basically tripled my account. I did this a few more times including Ethereum and I now had $7000. That is when I decided to go all in, I "bought" 100,000 shares of bitcoin and Ethereum (1 bill) and waited, soon I had an account with a total of 2.1mill. That is how I became a multi-millionaire in 10min. Obviously this is not realistic as most brokers only multiply x100, so "realistically" if I multiplied my $1000 x100 (witch I would not recommend starting out) I would of actually ended up with a lot less. Stay tuned to next week to see more realistic trading. For those who would like to learn about trading, I've linked the courses I watched at the bottom of the home page.
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AuthorHI, I am Austin sweet a high school student that would like to learn how to trade. Archives
December 2023
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