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Our editors bought an opportunity to interview one of many up-and-coming bitcoin dealer, Ben Densmore. Take a deep dive into our questions and his solutions for higher readability.
Q. The place are you from?
A. Hey, I’m Ben Densmore. I used to be born in Tacoma WA, and I presently dwell in Irvine, CA
Q. Please share some extra details about your background?
A. I grew up in WA state, and I’ve at all times beloved lifting weights. I truly needed to be knowledgeable bodybuilder rising up. Additionally, I’ve been in gross sales for the previous 7 years.
Q. What has your buying and selling journey been like? How did you begin?
A. I’ve been day buying and selling shares for the reason that finish of 2019. Didn’t achieve this scorching, my first 12 months I misplaced 37k. I used to be treating it extra like a chance, not finding out charts or patterns. Then I began buying and selling BTC in 2021, I did loads higher this time in comparison with after I bought these losses buying and selling shares. I truly do TA (Technical Evaluation) now as an alternative of simply YOLOing and hoping the worth hits my goal.
Q. What was your final job? Why did you allow it?
A. My final job was as a gross sales supervisor. I didn’t go away, I bought fired on Might 4th, 2022. After I bought fired I used to be actually down and felt fairly depressed. I felt I used to be nothing anymore, my complete id was in gross sales. It led to plenty of binge consuming, and plenty of self-doubts. “What am I good for? Will I ever obtain something?”. After 9 days within the dumps, I made a decision that I used to be the one in control of my feelings and solely I’m liable for my very own happiness. I’m in command of my future, simply me.
Q. How did you purchase your first bitcoin?
A. I purchased my first piece of BTC on Coinbase in early 2020 at like 8k and bought 850$ value. I didn’t get a full BTC till earlier this 12 months. I took a bunch of money advances on my bank card so as to add .24 BTC to have a full BTC. Actually dangerous I do know, however I had religion, and plus BTC was so low. On the time it was buying and selling beneath 28.5k, so I knew I needed to act fast. Getting my first full BTC was important to my buying and selling success as a result of it put me in a do-or-die mentality. Figuring out I had no choice to fail.
Q. How is your buying and selling going after you left your job?
A. It’s going nice and is now my full-time supply of revenue. It additionally provides me the identical feeling of accomplishment I used to really feel in gross sales. Having a profitable buying and selling day makes me really feel that very same pleasure I had after I was closing a brand new deal.
Q. What’s your ROI since you will have began buying and selling?
A. My ROI is nearly over 500% at the moment and I now maintain 4.9 BTC.
Q. How can you commerce so efficiently?
A. Effectively, I’m going primarily based on the degrees. So if I see a resistance stage and we reject, then I quick it. And if we break the above help, then I lengthy it. I additionally at all times set a cease loss, and at all times take revenue. By no means commerce with feelings or attempt to make again your losses by placing all of it in, as a result of that can make you burn by means of your whole portfolio. The buying and selling type I’ve seen the perfect success with is scalping. Scalping is the place I try and make large income on very small value actions. I exploit plenty of TA to assist me. I exploit indicators on Buying and selling View just like the Ichi Moku on Steroids Indicator, which is predicated on the unique Ichimoku components. This indicator offers nice lengthy/quick entries/exit indicators. It additionally takes under consideration the EMA on value in addition to the 2 main traces to see the place the earlier highs and lows are. These assist me discover out the place the help and resistance ranges are.
Q. How do you reinvest your revenue?
A. I simply HODL it, I haven’t offered any of my BTC. I might take loans out in opposition to my BTC on the Celsius App, so I don’t need to promote any of it in case I want liquidity.
Q. What platform do you commerce on?
A. I exploit Phemex, use my referral code FJUXH3.
Q. Any recommendation for individuals new to BTC buying and selling?
A. Study to commerce ranges. I’d have them discover ways to commerce futures first. Even have a revenue goal in your head earlier than you begin buying and selling, and don’t deviate from the quantity you take into account. Taking income is essential! All you possibly can management is your threat available in the market, that’s it. So be sure to set your cease losses and by no means commerce with greater than what you’re keen to lose. Buying and selling will push you to your limits. Possibly not at this time, possibly not tomorrow, however that day will come. Whether or not you will have a $1000 account or a $10,000,000 one.
What’s going to make the distinction, is how resilient you might be. Your capability to endure short-term ache earlier than reaching these all-new highs. You should overcome these exhausting occasions as a result of You’ll be pleased with your self.
And the following time occurs. you’ll have extra confidence that you are able to do it once more. You received’t panic promote.
Q. Any final phrases for our readers?
A. “He who will not be brave sufficient to take dangers will accomplish nothing in life. ~ Muhammad Ali”
Don’t let a job outline you. Don’t doubt your self and don’t be afraid to take some dangers. Simply imagine that no matter you need to obtain, you possibly can. As a result of you possibly can!
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