Intro to Young Crypto Wolf
Allow me to formally introduce myself 🐺
My name is Young Crypto Wolf, and I am a student of the markets. My specialty is looking for market opportunities that generate alpha while minimizing risk.
When did I begin my journey?
Like almost everyone, my trading/cryptocurrency journey started with a google search for “How to make more money?” Not really sure why I was looking for more money at the time. I was a 16-year-old senior in high school with little to no income. The only money I had was from doing random gigs for my parents, neighbors, and friends. I am not even 100% sure why I even wanted money, I just knew I wanted it.
A little over a month goes by, and all my research leads me to these topics:
- Online Surveys
- The Foreign Exchange
- Stock Trading
Quickly I learned online surveys were time-consuming & didn’t reap the rewards. This pushed me to learn about stocks. I started trading stocks at 16 with a $100 account on Scott’s Trade, using my mother’s information.
I remember buying $100 worth of some random gold stock. Like every rookie, my eyes were stuck to the screen. At the time I still had no idea what the stock market was except for I put money in, it goes up and I get more money back. There was 1-week where my stock made a 17% rally, off of some positive news. The next day I sold my stocks thinking I had made some money.
The morning of I look at my balance and it shows $72, confused about why I started doing more research. This is where I learned about broker fees. At the end of my research I came up with the conclusion: “If I want to make money I need a bigger account.”
At this time I was feeling defeated. I was 16 with no job, and my stock trading research has to lead me to a $2,000 minimum trading account for margin trading. I stopped everything for 2-weeks, continued saving money. After 2-weeks I was at $157. Devasted again, I continued to look for opportunities.
After a week of running in circles, I was looking at trading the foreign exchange (Forex). To be completely honest trading forex didn’t seem appealing after my incident with the stock market. Little did I know I had found my passion.
I opened a demo account and was instantly hooked. For the next couple of months it was “Eat, Forex, Sleep, Repeat”. I continued to open demo accounts and getting #rekt. This cycle was repeated for 3-months.
After 3 very painful and stressful months, I started looking for mentoring/teacher. This lasted for about a month, at the same, I was continuing to open demo accounts and running them to zero.
No luck with a mentor, I started to give up. I dropped everything and forgot about it for a month. At the same time, I was continuing to save money.
A month later, my ambition got the best of me and I started to look for money-making opportunities. Of course, my research leads me to where I was before…Forex. This time I tried teaching myself.
At first, it started with how to trade Forex google searches. Slowly I was learning the lingo: support, resistance, trends, bulls, bears, etc. This is when I started my technical analysis journey.
Now I have a demo account with a somewhat better understanding of what I am looking at. What could go wrong right? Well…leverage trading quickly showed me there was a lot to learn.
Fast forward 6-months. I was improving, however, I was not consistent. My account growing but only to be followed with a drop to zero….over and over.
Desperate to improve I continued to look for mentors again. The same scenario played out, everything looked like a scam or was too expensive for me. This is when I started looking into articles, books, and videos.
The first book I read was “Naked Forex”. This forever changed the way I looked at charts and continues to be the main aspect of my trading strategy.
What Happened Next?
After reading “Naked Forex” I was immediately hooked! I began writing down questions and searching for answers. One search led to another and so on and so forth.
At first, I was only studying random information. As I continued to read I began opening demo accounts and testing strategies.
Fast forward 2-years and I am now a 2nd-year college student. At the same, I was studying computer science at a public California University. After my 2nd year, I switched to business. Only after a semester of business courses, I dropped out.
I could not sit and focus in class because I was too busy thinking about forex. This is when I started to deal with family drama and began to fall under a deep depression.
Growing up as a minority one thing that is highly important to the older generations is higher education.
My parents wanted me in school or they wanted me back home. I refused to return and stayed in my local college town. I continued to study/trade forex, while I ignored my parents.
Time passes by and they feel the same, and think I am going nowhere.
The start was rough, I had opened multiple accounts and ran all of them to $0.00 and in some cases negative balances! In the first 6-months, I had lost around $10,000 and put myself in debt. Something had to change.
I put live trading on pause and started doing more research. Quickly I learned that I was not wrong with my trades, but my risk management was nonexistent. This is when I decided to take a step back and begin to list the “main topics” in trading.
A month after studying I had open the door to the following:
- Technical Analysis
- Trading Psychology
- Risk Management
To this day this is how I would break up trading.
In the 2nd half of the year, I was consistently profitable and felt comfortable with my trading strategy. In my head that was it, I was a trader!!!
I repeated the same mistakes when my account size increased. Again pushing myself back into a nasty depression only to avoid family.
It was after 3 years of trial & error when I could finally begin to feel and see improvement. To this day I continue to trade forex, but my focus is crypto.
Today, at 25 I continue to reflect on how I started, and what I could have done differently to shorten my learning curve. Sharing that knowledge with those who are interested in studying the markets.
Today I work as a project manager for a design and build team (high-end luxury houses). I mostly handle schedules, budgets, contracts, payments, working with clients.
In my free time I enjoy being outside, hiking, working out, reading, and hanging out with my dog. 2020 was definitely a growth year for me, and I’m excited to implement everything I’ve learned with some cool new people I’ve met.
Now and into 2021 my focuses will be the following:
- Create more crypto/trading content.
- Help others get started in the space
- Become a funded trader
- Land a crypto/blockchain job
The best is yet to come. I can not wait until I can pour all my energy into this space allowing me to leave my 9–5. If I had to ask one of you it would be this. Please share my content: retweet/like/copy links/etc. This spreads awareness of my theories creating more opportunities not only for me but for others.
- It’s a marathon, not a race.
- Don’t compare your journey to others.
- Study Candles/Price Action (don’t rely on indicators)
- Invest what you can afford to lose.
- Positivity only, positive energy attracts positive opportunities.
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Thank you for your time, I look forward to meeting you :)