Life of a Student in London, trying to make money.
It all started off with my massive interest in anything do with money from a young age. Constantly collecting pennies, pounds and notes just so I could feel like I’m an accountant who’s job was to manage and save cash. After bickering to my parents about raising my pocket wage, I finally got it. £1 a day. I was so content that I had a real income with real money.
I moved from countries at an age of 8 and as many of you know, the UK is a scary place at first, but then you tend to start feeling part of the community, and for me, the finance industry was the one. The only part of the current account of the UK that is in surplus is the export of financial services to other demanding economies, that alone persuaded me that the City of London had adopted the technology at the time, perfected it and hired a sea of high skilled workers from across the globe in order to provide that financial service to people also across the globe. Anyway, that’s me and what inspired me to get informed in this whole financial world to do with securities, and what led to me ‘diving into the thick’ of the GameStop and AMC Entertainment craze. More on that later.
Fast forward to Year 12 Sixth form, took my first Economics class and the simplest, yet greatest thing was revealed to me one one slide. A supply and demand diagram. That’s what drives the price of stocks and cryptocurrency and thousands of prices of other valuable assets. Human emotion when purchasing or selling anything is the whole reason why over 80% of traders lose money when messing around with the stock market. It is an unpredictable sequence of decisions taken by the average Joe, yet firms still find a way to profit off of us retail investor’s impulsive acting. Quant trading is the term but scrap that because it’s simply something out of our control. You and I can only hold, that’s what Warren Buffet’s philosophy is all about, patience is key. Back to life of a student in the world of finance. Topped up my trading account with £100, was feeling good. Few days later, lost 70%. I guess that was because it was my first try? Topped up my Binance account with £100, a platform for trading cryptocurrency, and was on £250 by the end of the week, was feeling good. Few days later, Bitcoin dropped over 40% and as a result, the cryptocurrency Matic which I had made 150% on plummeted as Bitcoin is the sea and other cryptos are fishes that get affected directly regardless of the circumstances. I, for one, believe strongly in cryptocurrency to act as the key to the puzzle which I call, whack-a-Joe, being the average retail investor suffering from a lack of regulation on forces which turn the stock market into a foul game which fortifies the impenetrable chain of inequality. Crypto can smash that chain. Phew, that was a load off my chest.
As a 17 year old, money can be a difficult thing to come by, and nobody will give you anything without getting something in return. That’s the thing I’ve learn from my history of rummaging through ‘TOP 10 WAYS TO MAKE MONEY’. It’s a waste of time chasing hopeless methods of forming any type of income. Spend your time studying, getting excellent grades and tutoring for an hourly rate or getting educated in the other 3945 professions in order to provide a service or a good in hope of getting money as a reward. Trading is nice, but in my opinion, impractical. On the other hand, cryptocurrency is where things change. Honestly, I’m early and so is whoever reading this to the world of cryptocurrency. Either way, buy, hold and repeat is the way forward for ANY security. I’m keen on scribing an article on my experience on the GameStop and AMC Entertainment, since to be honest, I’ve spent way to much time reading up on the whole background and history of this fight, which has been happening for the past 100 years, and I’d love to hear some feedback on this so I can think about putting my hundreds of hours of reading and thought into an article on Medium. :)
