Share and Crypto trading

Buying shares has got much easier than it used to be.

It works like this. First you pick a suitable trading site and set up an account. The setup is very easy but you have to spend some time with the infamous KYC procedures. It actually means that you have to have a utility bill handy as well as your passport. The Site will also insist on a selfie. I find that usually it is very quick and that you are ready to trade quickly. There are a number of online trading sites and I am not here to do your research for you. The choice depends on which countries you want to trade in as well as your nationality and country of residence. I have accounts with several but tend to use degiro.

So far so good. You have setup the trading account and now have to add money to it. This is the moment of truth as share trading ties up your money and is not guaranteed. First you have to start with an amount of money that you are willing to risk in the aim of increasing your overall wealth. The first time that you transfer money to a trading account feels (and is) dangerous. I tend to console myself with the idea that there is no easy way to get good returns without increased risk. So you choose a small amount and transfer it, either through your bank or a bank card.

Next you have to choose what to invest it. This is the hard part, something that people devote years of their lives to trying to master. No one knows what will happen next.

However, you can find ways to try out the investing game. I call it a game deliberately because you have to always be aware that you might not win. Right now you need to go and learn about investing, I would start with one simple idea, like share ownership, just to test the waters.

You have to build a strategy, shares go up and down in value, and if you buy and sell based on your emotions from watching the changing prices, you will be very likely to lose money.

I have bought and sold various different shares, always starting with small sums. I usually choose an industry, read about different companies and then buy some shares. At the time of buying I decide at what price I want to sell them and sell when they reach the price. It is a boring technique that brings small but steady returns. If I like the share, I will sell enough to cover the initial investment and keep the rest, hoping for bigger profits if they continue to rise.

These were just my initial thoughts, there is a lot more to come and Crypto trading is for another day.

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