Greetings, and welcome to my first blog ever written! On this website I will be posting blogs on what I have learned throughout my journey to become a trader. In this first post, I will tell you about my own journey, the pro’s and con’s of (day)trading and a small introduction into some of the concepts of trading. Next to that, some of my articles will be more focused around the way of life that you have when you are a full-time trader. Over time, the articles will become more and more advanced. I have two main reasons for doing this:
- Give back to the community. I have learned so much from people around the crypto trading community and it was all basically free. I hope my blogs can help others make use of my knowledge and ability to create an easy-to-learn blog series and start their own journey.
- Evaluate my own knowledge and skills. As a former teacher I understand that to completely understand a subject it is a great exercise to see if you can explain it to someone else. Through these blogs I will test my own knowledge and understanding, see where my knowledge is sufficient and where I can improve.
Being a teacher from the Netherlands I never had anything to do with trading or investing up until I switched from being a history teacher to an economics teacher in 2013. This meant I had to study again and during this economics study my interest for investing started. My first investment was buying AMD stocks when they were around 3 dollars and from there on I started to casually look into investing and trading.
My crypto adventure started in April 2017 when I first heard of Ethereum. Being intrigued by the possibilities this new technique would bring I started my investigation into cryptocurrencies, what they are and what the blockchain technology could mean for the world. Being quite idealistic and also skeptical of our current society in some ways, this new technology, to this day, has the possibility to change the world in some very positive ways.
Of course, this first buy-in into ETH on Kraken brought me into the trading world, being witness to an exponential growth in those 9 months after my first buy-in, having owned and traded quite some cryptocurrencies and getting used to using wallets, miners and exchanges I felt I became more and more comfortable in the crypto universe. However, I was not, in any way, prepared for January 2018. Being completely caught in the euphoria, I took some profits but saw most of my trading capital decline all the way into summer.
In the meanwhile, something in me changed. I became a critic of our educational system and felt I couldn’t work there any longer. So I decided I will develop myself into being a daytrader. I quit my job as a teacher, had enough savings to pay the bills for over 6 months to dive into this and well, here we are! The savings luckily lasted quite a bit longer, for I had definitely underestimated what it took to become a profitable trader. I accepted a job to pay for the bills (and to not solely be focused on crypto) and when that pressure was lost, things went really good, really fast.
Because of the decline in value since January 2018 I basically had two choices: sell and quit, saying ‘this is not for me’ and return into teaching or picking this up as an opportunity to learn, study and evolve myself into a trader. I chose the second option, because by then I was caught by the ‘trading virus’, which is based on the following positives on trading:
- Freedom. I am free to work where and when I want. I answer to no one but myself.
- Personal growth. Trading is not just about numbers and charts. The trading game helps me to keep developing myself intellectually, emotionally and mentally.
- Profit possibilities. The markets give an endless opportunity for growth of your capital. Basically I’m saying: “yea, I’m in it for the money as well.”
Of course it’s not all rainbows and sunshine, and there are things to consider before you start daytrading as well. For me this is the following:
- Easy to learn, hard to master. You don’t need to be a genius to learn basic trading. The difficulty is in executing the actual trades and staying emotionally stable whatever happens. In a way, you are ‘mastering’ yourself, and this can be really confronting.
- Responsibility. Because you are the player in this game, you have full responsibility. This is even more so in crypto, where security is also your own responsibility.
- Discipline. No working hours or schedules are handed out to you so it’s up to you to plan your work and stick to it. The amount of freedom calls upon an equal amount of discipline to make something out of nothing.
For me, being used to create curriculae in education and having a lot of experience with creating my own teaching materials, I truly believe I can add value to all the educational materials that already exist on trading (cryptocurrencies). I hope my materials will help you to educate yourself as a trader. You can also find me on twitter @TradingTemple
Disclaimer: everything I publish on any platform is meant for educational purposes only. NOT to be used as financial advice.