Ever since Bitcoin had that incredible rally back in 2017, there has been a lot of talk among big-ticket investors to find a way to bring the cryptocurrency into the world of mainstream investing. It was around that time that the idea of Bitcoin-based exchange-traded funds (ETFs) was first floated. Ultimately, the Securities and Exchange Commission is responsible for allowing Bitcoin ETFs in the markets and on Monday, the agency was supposed to deliver its decision on three Bitcoin ETFs. However, to the disappointment of most in the crypto sphere, the SEC delayed the decision.
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Like the title says, when do you decide to start trading with serious money?
Lets say one thinks to know the basics of day trading and is consistantly making a profit e.g. +1-2% a day. When would you say this is consistent enought to start trading with serious money? E.g. 500-1000 dollars instead of 50?
Would one want to try it out for a week? Two weeks? A month?
Seeing myself being able to make a consistant profit (and recovering from the losses i made from my start) makes it tempting to put in more money than i would reasonably like to loose. Now, i don’t mind it being in btc and i do feel comfortable when trading. Hence i already increased my portfolio size with something more moderate. But when is the point to get serious?
Obviously there are pitfalls which i yet have to learn about. One might have to have a lucky first week or month?
How different is trading with 0.01 btc instead of 0.001? For most volumes of 1000+ btc’s / 24h i assume it does not to matter?
Edit: Are there respected (academic) resources on this topic?
submitted by /u/xHipster
When do you decide to start trading with serious money?