New to the forum and new to both trading and investing

This is a discussion on New to the forum and new to both trading and investing within the First Steps forums, part of the Reception category; Hi all. My reason for being here is that I've accumulated a modest sum via cryptocurrency. Just to clarify, that ...

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Old Jul 13, 2018, 9:39am   #1
Joined Jul 2018
New to the forum and new to both trading and investing

Hi all. My reason for being here is that I've accumulated a modest sum via cryptocurrency. Just to clarify, that was accomplished by 'going long'. I don't have any experience with swing trading in crypto.


With that, I guess my interest is two fold..

1. I've never had any interest in the world of stocks and never paid any attention to same. I'm in a scenario whereby I have capital and I need to both put it to work and retain existing wealth. Bonus territory is to accumulate/increase wealth through investing/trading.


2. Rather than just passive investing, I may have an interest in trading. I say 'may' as I simply don't know if it's for me. I've a friend who has been investing for 15 years and in more recent years, he's gone down the road of day trading. I had been following his lead but I'm unsure that this is the route for me...OR...that I can get up to speed in sufficient time. I suppose I'm concerned about the short term goal of managing existing funds so as they are at the very least being put to work.


How do I go about educating myself with a basic approach to how to select stock picks with a more longer term outlook - and one designed to be relatively conservative (i.e. puts wealth retention over aggressive accumulation). In light of what I understand to be a market that could be getting ahead of itself, I guess I also need an approach that mitigates/hedges against a market crash if at all possible.
I do have an interest in crypto - but of course despite having come out the right end of it and having spent an enormous amount of time tracking crypto developments, it's still an area fraught with danger in terms of risk. Perhaps crypto could be used as a hedge (to counter-balance any dramatic pull-back in the conventional markets) whilst also accounting for the more speculative/high risk proportion of my portfolio?


Long story short - if someone could point me in the right direction as regards an approach that I could take just to accomplish some basics in terms of investing in stocks, I'd really appreciate it.

If I could achieve that in the first instance, I can then - in my own time - investigate the possibility of trading on a more active basis.
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