Just wanted to add to this. I believe that the pressure is starting to mount on the bank of Canada and that they may indicate a rate cut is looming at their next meeting. Could be time to start looking to short the CAD?
Hi Mohammed. I hate to break it to you but 0.
Many people seem to believe that they can get into trading and double and triple their account within a few months but this isn't the case.
And even if you do somehow manage to do that, you can be sure you will blow it all soon enough. I would suggest you learn as much as possible first and use it to supplement your income. the majority of traders I know are not profitable for at least 3 years before they are able to profit consistently.
Unfortunately with these so called 'trading gurus' out their now nowadays who themselves are not profitable, it has made people believe they can become rich immediately through trading.
One thing I would ask you to do because I'm sure you won't believe a random stranger online, is to have a look at the worlds top hedge funds and see what their yearly returns are. These are run by some of the top traders in the world, so it should make you think why you think you can beat their returns so easily without having at least a few years in the industry.
Well, Ripple (XRP/USD) is one of the most versatile blockchain projects available given its varied uses in the financial services sector as evidenced by the hundreds of institutions using Ripple's platform. The Ripple platform had over 110 banks as clients in October 2019, which shows how popular the project is among mainstream financial services firms.
The above qualities make Ripple a very attractive long-term investment given the fact that the platform has more practical uses than even Bitcoin. Ripple's price is also very attractive given that it is currently trading at less than a dollar, which means that you can buy more units of Ripple than other major cryptos.
However, you have to be patient with long-term crypto investments as you may have to sustain major drawdowns for long periods. You could combine your long-term crypto investments with smart speculations to hedge your positions and generate cashflow from short-term price fluctuations.