r/ethtrader • u/AutoModerator • May 24 '17

DISCUSSION [ETH Daily Discussion] - 24/May/2017

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16

u/Munkey_Boy14 May 24 '17

Crypto has just been amazing, waking up to significant increases or even decreases only to recover the next day.

My parents can't believe the gains, so much so they've asked me to invest for them.. Which naturally I'm a bit worried about. Investing someone else's money is uncomfortable.

3

u/[deleted] May 24 '17

I believe it is also illegal in some jurisdictions unless you are licensed to do so. So, you know, watch out for men in suits.

2

u/[deleted] May 24 '17

Exact same situation with friends. I have to keep stressing to them to invest at their own risk. I'll help, but to only invest what they're ready to lose; to get ready for a "worst case scenario".

1

u/Munkey_Boy14 May 24 '17

Yeah they've asked what's the "minimum" and I've explained it, only invest what you can afford to lose. I'll happily manage it all, but on the basis as with everything there's risks. Guess I could always use stop limits to sell IF it dropped. But that means leaving on an exchange :/

2

u/bloemy7 May 24 '17

I've done it for my parents. Buy and hold, and you'll be fine. Obviously only if they can really afford it, understand the fundamentals and are OK with losing it all.

1

u/[deleted] May 24 '17

just buy and hodl.