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My First Investment Towards $1 000 000

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As I wrote in my previous post Join me to my first goal of $1 000 000, I was searching for my first investment to reach my main goal of $1 000 000 in equity. I am going to invest at least 10% of my monthly income in a low risk but high yield opportunity. I have done a lot of research on stocks, commodities, index funds, and even cryptocurrencies, but that’s not what I ended up with.

Some of the comments in the previous post gave me some great investment ideas, like Lithium (used in batteries, that has seen an incredible growth), cryptocurrencies like Ethereum and Bitcoin, gold and especially silver (because of the gold/silver ratio), medical marijuana companies, and energy stocks (renewable tech). Since I’m based in Norway, I’ve also looked at Norwegian stocks. However, I’ve not invested in any of these ideas.

Why did I not invest in the proposed ideas?

All of the ideas are great, but they have different risk/reward ratio. And most important, my knowledge of the different suggestions are varying.

Lithium

Lithium: I could invest in Lithium or Lithium companies in Chile/Australia, but I do not know the market well enough. And one of the most important rules of investing is to know what you are investing in. Lithium has increased drastically over the last years as you can see from the graph below, but you should never invest in something that might be at their peak. Then you’ll just lose money. Lithium is a scarce resource and might see a higher price development, but I do not feel comfortable investing in Lithium at this point. And there are alternatives to Lithium batteries, and if a replacement took over, Lithium price would plunge.

[ecko_annotated header=”Lithium Price Development” annotation=””]

[/ecko_annotated]

Cryptocurrencies

I’ve been in the cryptocurrency space since early 2013, and I’ve made some good money on Bitcoin and other cryptocurrencies. At this point, I’m totally out of cryptocurrencies based on a few factors. First off, it’s high risk. Not only can the code be vulnerable, but the exchanges are exposed to hackers that are constantly trying to drain them. I had a lot of money in Bitstamp when they were hacked in 2015, and all accounts were frozen for a while. At that point, I thought that my money was lost (you’ve heard of Mt. Gox right?). Including the high risk of investing in cryptocurrencies, you must comply with the laws in your country. In Norway we have to provide details of all investments, and what we have gained or lost during the year. This is not very hard to do, but the system is not customized for cryptocurrency trading.

Currently, I do not want to invest in cryptocurrencies due to the high risk involved. Even though some claim that a bitcoin will be worth $500 000 in a few years.

Also read: Never lose money

Gold or silver

I’m very positive about gold, and I believe gold is a safe bet. However, due to uncertainties with Donald Trump and the current market conditions (record highs), I do not feel overly comfortable in investing in gold or silver, just yet. But gold at the current prices as a long term investment won’t go wrong, at least in my opinion.

Medical marijuana companies and renewable energy stocks

I’ll make it short here; I do not know the market well enough to feel secure in investing in a medical marijuana company or a renewable energy stock. I have to do more research on these potential candidates.

My first investment

I looked at investing in an index fund. But due to the record highs, I feel insecure of whether or not an investment at this point would be a good choice. I feel a recession is lurking on the horizon and I would rather wait and invest my money in something that is more rigid. That’s why I turned my focus towards money market funds and bond funds. They tend to be less risky than investing in index funds, or stocks in general.

Also read: Trading vs. Investing

There are mainly four different options:

Federal Government Bond Funds are considered to be the safest choice, but with the lowest ROI. Next comes Municipal Bond Funds. Money Market Funds are as safe or even safer than Federal Government Bonds, but they should only be used for short term investment as they give low ROI (could be a great opportunity for storing cash during recessions). And then you have Taxable Corporate Bond Funds which has a higher risk than the other three options, but the greatest ROI opportunity.

Since Taxable Corporate Bond Funds are considered safer than index funds and stock funds, even during a recession, that has been my first investment choice. Today I made a buy order of 10 000 NOK in a Corporate Bond Fund called Deutsche Invest I Eu Hi Yld Corp LC that has a 5-star rating on Morningstar. Last year it had a 10% increase (included the fund’s fee). That means, if the fund continues in the same pace, I will have 11 000 NOK next year based on my initial investment.

[ecko_annotated header=”Deutsche Invest I Eu Hi Yld Corp LC” annotation=””]

[/ecko_annotated]

What do you think of my initial investment?

Date Investment in NOK Invested in Name Current Value
27.04.2017 10 000 Corporate Bond Fund Deutsche Invest I Eu Hi Yld Corp LC 10 000

Read more about bond funds here.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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22 Comments

22 Comments

  1. Rocla

    April 27, 2017 at 6:40 pm

    Hey, thank you for sharing this.
    I am just wondering what is the procedure you followed to buy the fund?

    • Jonas Borchgrevink

      April 27, 2017 at 7:44 pm

      Do you mean what platform I used to buy into the fund? I use a broker in Norway called Nornet.no, most countries have brokers/online platforms like that. Let me know where you are located and I can give you a few suggestions?

  2. jacobss

    April 27, 2017 at 10:36 pm

    Thanks for the honnest follow up.
    But…….
    You wanted to be a Millionair ??????.
    With this investmemt that is not going to work.
    You need to take risks for that.
    Regards
    Jack

    • Jonas Borchgrevink

      April 27, 2017 at 10:46 pm

      I will show you how I’m going to reach 1 000 000 in an upcoming blog post. Remember, interest rates are your friend.

  3. P. H. Madore

    April 28, 2017 at 7:46 pm

    I’d argue there’s a long way to go before there will be a peak in Lithium, which is used in batteries and pharmaceuticals. I don’t think it will peak until there has been significant progress in the developing world, then we can say the market is maturing as the people there buy more electronics and are prescribed lithium. So personally I find that recommendation to have been a good one and I’ve been looking into pursuing it myself.

    • Jonas Borchgrevink

      April 29, 2017 at 2:16 pm

      You might be right Paul, but I’m a bit hesitant of moving into Lithium without learning more about the potential downside..

  4. singera25

    April 29, 2017 at 3:04 pm

    How do I buy this fund from Canada?

    • Jonas Borchgrevink

      April 29, 2017 at 6:31 pm

      Hello,

      Try and see if https://www.bmoinvestorline.com or http://www.scotiabank.com/itrade/en/0,,3709,00.html has the same bond by searching for the name or LU0616839501

    • Jonas Borchgrevink

      April 29, 2017 at 6:32 pm

      Most brokerage platforms in Canada should have it. You can even call some of them and check.

      • singera25

        April 29, 2017 at 6:37 pm

        Thank you. I applied for RBC Direct investing and will have an account activated early next week. I’ll let you know if they offer that fund.

        Thanks.

        • Jonas Borchgrevink

          April 29, 2017 at 6:44 pm

          Great, do that!

  5. Lukem

    May 4, 2017 at 4:09 pm

    Hi! Love your website! Can you recommend a good place in England where I can buy stocks?

  6. altruismme

    June 11, 2017 at 2:50 am

    Where can i buy this In NZ?

    • Jonas Borchgrevink

      June 11, 2017 at 9:50 pm

      Hey, you should contact a few trading platforms that deal with Stocks, Forex, Commodities and Funds. (Not margin platforms).

  7. aboualseem

    September 20, 2017 at 9:44 pm

    Hi Jonas
    how to get it in Australia
    Thanks

  8. Destruxia

    November 16, 2017 at 2:03 pm

    What about etoro? There are traders there with great and steady profits, and platform allows you to automatically copy their trades. I’ve invested 1000$ in one of them in July, and that investment is up 10% so far. I expect it to be 20-25% up by next July.

  9. Cranvo9

    January 20, 2018 at 5:20 pm

    hello Jonas, great website here. Wats a good platform in the US?

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Articles

Trans-Fee Mining: Investigating FCOIN and The Future

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Trans-fee mining’ is a concept utilised by a growing number of projects and exchanges which has not received much in the way of critical attention recently from either mainstream financial or specialist cryptocurrency publications.

The Fall of F-Coin?

Thanks to a company called FCOIN, most of the news which has appeared has been negative. Statistical information regarding the exchange can be found at popular aggregate ranking website CoinMarketCap.

Despite positive coverage earlier this year from the likes of Forbes’ Andrew Rossow, David Hundeyin of our sister site CCN.com wrote more recently that the exchange had been “Accused of Crippling Ethereum Network for Cheap Publicity” with a supposed aim of gaining publicity.

These pundits are joined by community members such as Reddit poster u/ltcisking (along with a large amount of other concurring, Google-topping results), who recently wrote a post aimed at proving such allegations, entitled ‘One of the biggest scams to ever hit Crypto’.

Twitter has also seen its fair share of investor complaints as well, including the following…

As well as the replies to this post,

What is Trans-Fee Mining?

Due to the unusual circumstances in which the ‘trans-fee mining’ sits (being supported by a number of independent projects despite the reputation of FCOIN): it is a difficult methodology to describe.

It builds upon the concept of the ‘exchange token’: which is most often associated with coins such as BNB (Binance Coin), which can be used for staking towards a particular crypto in the exchanges ‘community coin of the month’ program.

The original FCOIN implementation appeared to build upon this vision at first. The token’s value is derived from the fact that it has a stable value, and that it can be used on-platform (like BNB) as a means of purchasing other tokens whilst offering regular returns on investment for long-term holders of the token.

What is FCOIN Doing Now?

FCOIN has issued various statements which appear to support the sentiment behind the claims which they have faced. These include a recent August 14th post, with the telling title ‘FCoin community referendum end and recent plan publicity’.

Highlights of the piece include new objectives such as

“1.Complete and publicize the destruction of the remaining unissued FT.
“2. Complete the delivery of all FT warrants and withdraw the FT warrants from the market…
“4. As of the end of the referendum, the previous trans-fee refund will remain unchanged (based on the price of the FT related trading pairs before the suspension), and then, all the trans-fee refund will be stopped (including all return plans based on FT issuance).
“5. We plan to establish an FCoin mechanism and an announcement cleanup team. The team untied and improved the current FCoin mechanisms and standardized the release of various mechanisms in the future, and made a unified interpretation.”

At best, this may be an admission of fault, and at worst: an ambiguous and uninformative piece of messaging which fails to outline the situation with a strong brand or executive voice.

This comes in addition to a couple of announcements regarding ‘compensation planning’ with regards to investors who had “participated” in the fundraising of the ‘GU’ and ‘QOS’ tokens through their service.

The latter included the assurance that this process “compensation plan is an initiative taken by the platform to protect the interests of community user” concluded with the damning statement that:

“The FCoin platform has informed the QOS project parties and urged them to conduct self-examination of market price fluctuations and recent media reports as soon as possible. It is not excluded to take delisting and other related measures. The specific plan will be subject to the subsequent announcement. During this period, QOS will be temporarily suspended.”

Torch-bearers of Trans-Fee Mining?

Various claims of discrepancy against FCOIN’s actions as a company however, have not discouraged many projects which are attempting to build their own version of trans-fee mining. Whether or not they have been inspired by the short-lived success of FCOIN’s implementation is yet to be confirmed!

One of the most recent organisations which has decided to foray into this difficult and all-but-controversial territory is BitMart, an exchange founded by current CEO Sheldon Xia. Their approach is branded ‘Mission X’, and utilises their proprietary ‘BMX’ token.

“All transaction fees from the BMX market will go directly to the users who supported the project. In addition, successful projects will enter BitMart’s main trading markets.

“This program gives users the ability to decide which projects they want to be listed on the exchange, creating a self-regulated market.”

The platform piqued this writer’s attention upon noticing a disparity between public consensus and professional news coverage. Whilst the latter has published next to nothing with regards to the platform, a quick search of social media and communities such as forums seem to illustrate a positive and transparent image.

CoinEx was recently reported to have achieved unprecedented growth following the release of their token – however, like FCOIN have been called out for discrepancies. This time regarding the faking of volume metrics.

Final Thoughts

It appears that trans-fee mining as a concept is a long-way from earning this writer’s confidence, however it must be noted that there are many promising aspects. Time will tell whether talent will shine through or if trans-fee mining will fade out at the hands of opportunists.

What is important to note is that it is not the technology or idea, but the hands that are operating the machine incorporating it.

This writer cannot directly recommend the concept in its current state, but believes that the original idea is solid and if implemented in a viable way: would thoroughly warrant the full attention of any potential investor.

Until then, watch the community and keep an eye on the media – as well as word-of-mouth as this flawed-yet-promising idea is if nothing else, highly interesting!

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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My CFD Journey: 72,000 USD Up Today

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Wow the indexes are falling globally now. Dax is down with 1% today – same as Dow Jones. I would love to do a short call on these indexes, but that have seriously hurt my financial standings previously since we still are in a “bull” market with earnings reports beating forecasts and macroeconomic numbers excelling analysts viewpoints. I only want to trade by using trend following, so even if the markets are down, I love to do short buy calls as they most likely will rebound to new ATH (all time highs). The reason for just doing short buy calls is that we might be on the tipping point to a bearish market, but that’s something I would like confirmation on from e.g. macro numbers, earning reports and such. Until then, I’m quick in and out.

Here is my results

Order Entry Price Take Profit Stop Loss USD Bank Roll USD % Change
Start 258 064,52
Day 1 25.01.2018 Dax Buy 13268 13274 13262 6 472,52 264 537,03 2,51
Day 2 26.01.2018 Dax Sell 13342 13318 13392 7 642,84 272 179,87 5,47
Day 3 29.01.2018 Dax Buy 13331 13336 13313 12 508,39 284 688,26 10,32
Day 4 30.01.2018 Dax Buy 13226 13233 13176 6 625,94 291 314,19 12,88
Day 5 31.01.2018 Dax Buy 13217 13230 13187 26 474,06 317 788,26 23,14
Day 5 01.02.2018 Dax Sell 13291 13265 13327 10 834,58 328 622,84 27,34
Day 6 02.02.2018 Dax Buy 12797 12825 12772 72 314,97 400 937,81 55,36

Using ProRealTime

As I wrote yesterday, I’m using IG.com to trade CFDs. They got a tool called ProRealTime that I started to use yesterday. It’s a great tool with many more indicators and tools, and best of all, you get a good look at your stats. Here is my stats so far on ProRealTime in NOK (1 USD = 7.65 NOK – click on the images to get a larger view):

As you can see from the image above, I got 8 winning trades and 1 losing trade. I tried to buy the dip on Dax but managed to enter a bit too early. The Dax index fell quite rapidly after I initiated this trade and I wanted to keep it open as long as possible as I knew a rebound would happen. But I was not comfortable enough to sit it through so I closed it. Still feeling certain that the price would rebound I entered a buy position yet again at what I thought would be the lowest low. And thankfully, that worked and it rebounded above my initial entry point for the first trade. To ensure that I got the profits I wanted, I did a third trade buying Dax when RSI showed a trend reversal (rose above 50). I closed the trades once I was happy with the profits and because I became nervous that the price would turn back down. Then I initiated the last trade of the day going long on Dax yet again.

Here is the total overview of my trades today:

I would again like to highlight that trading CFD is very risky, and I’m still significantly down in total these last 3 years.

My trading rules

  1. Only risk max 2% of my bank roll per trade.
  2. Have 0 active positions during the night (first of all, I lose sleep, second; you are charged an interest fee for leaving a leveraged product overnight.)
  3. Always trade on last month’s trend including the previous day(s). If they do not correlate, I will not trade.
  4. If one position is lost, I’ll double the amount (martingale) and do a second trade. I’ll only stop doubling after 3 consecutive losses.
  5. Do not think about lost trade opportunities.
  6. Markets to trade: Dax & Dow (minimum spread).
  7. Stay updated on economic releases prior to entering a trade.
  8. Do not have emotional ties to the money. I like to call them “points”.
  9. Only enter a position when an asset is overbought or oversold shown by both RSI & Stoch at the same time.
  10. Always write down your trades and elaborate what went right or wrong.

What is the meaning of this?

Why I’m I writing all these posts? My main goal is to find a working strategy trading CFDs and be able to mentor Hacked.com members and do live sessions together. However, I would like to keep going for at least one month until I feel comfortable that the strategy I have, actually works. I would rather lose my own money, than lose any of yours.

I wish you all a great weekend. We are going to visit our family this weekend and have a nice time.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Who Moved My Cheese?

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It’s been a while since I wrote a post. I’ve been busy with creating CCN.com and migrate CryptoCoinsNews.com over to the new domain with a fresh design. And It’s been Christmas with daily family dinners. I decided to quit my job at Wilhelmsen.com as a Digital Trainee. I’ve worked there for a year now, and with the growth of CCN and Hacked.com I had to take a choice. I want to make CCN and Hacked to one of the strongest crypto sources and our team is rapidly expanding. We are now more than eight full time employees and more than 20+ as part timers.

I also bought hvy.com in December, and I want to develop MoneyMakers.com into something more during the coming year. We are building a small media empire with a very decentralized structure. I love the team, and I especially love our dedicated readers and members.

I started 2017 by posting the following:

  1. My own longterm goals, what are yours?
  2. Join me to my first goal of $1 000 000
  3. My First Investment Towards $1 000 000

What is a bit ironic, is that I reached my “longterm” goal last year. It should have taken at least ten years, but I managed it in one. I managed it because of a few things:

  1. Dedication
  2. Team work
  3. Luck

Who would have thought that the crypto scene would blow up like it did last year? It was insane, and we still keep setting records.

Then to a few “lost activities” on hacked.com. The 33% club lost some steam this fall, purely due to my priorities at that time. I’ve still been investing, and I now have approx. 1 million USD in different assets (not cryptos). I will continue the 33% club from February and onwards, and I want you all to join. I will do a new post later in January with a better setup.

Then to my “Robot” affair. First weeks I made $5000, but then things started to go terribly wrong. I had multiple issues with using robots on MetaTrader 5 (I used Roboforex as my trading platform). One of the main issues I found was that the robots did well on certain days, but then when they made the wrong moves, I lost twice of what they originally made. And sometimes, my VPS went down and the orders were stuck until I manually exited them. Mostly with a huge loss. I do not think there’s any good robot out there where you can just leave your money and “forget them”. I’ve decided to focus more on investing my money in secure assets, stocks, indexes, and bonds. I’m still looking for the golden opportunity, and once I find it, I’ll share it with all the members on hacked.com.

Who Moved My Cheese?

I read a short book here the other day called Who Moved My Cheese? and it’s really worth reading. It’s stupid simple, but it’s so true. Basically it says that people who are stuck in the same patterns will end up depressed and “broke”. Your “cheese” or “money” will always be fluctuating, you have to chase it to new grounds. You might think that you can work for your employer until you die, but that will most likely be a terrible mistake. To believe that what you have now will be lasting forever. Successful people manage to change quickly, spot new opportunities, and move forward with their lives. I personally have experienced being stuck for a while, but now I feel free and I want to keep chasing the cheese in new arenas or mazes. Risk and failures are a part of your learning curve. Same can be applied in so many aspects of my and your lives. I recommend reading that book.

After I’m done 31st January at Wilhelmsen (my regular 9-5 job) I’ll focus more on Hacked.com and its community, and I’ll definitely write more and share my thoughts with you.

Thank you for a great 2017, now let’s make sure 2018 becomes even better for all of us.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

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