Moin,

in this post I would like to address more the younger "investors and speculators".

Who am I?

A 20 year old boy from a middle class family, whose family had absolutely nothing to do with investing.

In fact, I have successfully completed my high school diploma and am now studying computer science.

Why am I writing this?

So that one or the other can learn from my mistakes....

My story in terms of finances:

- Beginning of the 18th century:

I heard again and again, especially online, how people very simply increased their money or also protected against inflation very simple.

The whole thing seemed very simple to me, the idea behind ETFs I understood in principle as a kind of lending his money so that you get back at some point very likely more.

When this sometime is, one did not know of course, possibly after 5, 10, 20 years. Maybe even later?

Surely the return of about 7% per year always seemed to me.....until I realized that this is not so.

it is not for nothing only an average which was possibly calculated over decades.

I slowly but surely realized that I could not earn "much" money with ETFs before retirement.

Thus I jumped over to shares,

then to derivatives,

then to the big cryptocurrencies,

climbed me further purely in shitcoins that have actually partly 200-300x earned so 200,000-300,000%.

that was of course not enough for me and I started to leverage shitcoins, like for example. $SHIB (+0.56%) and lost say and write ~8,000€ in one trade.

Now I trade "professionally" for a "prop company" which basically gives you money for trading.

I would actually not yet call myself profitable, but a good student of his interests.

My mistakes:

Mistake #1: You don't become rich overnight.

Mistake #2: You should enjoy your life and not save 120%, even if you dream of retiring at 30. Personally, I would rather retire a few years later but live a happy and beautiful life.

Mistake No.3: This is a mistake that many will probably not consider a mistake.

Investing does not make a middle class person rich. Investing makes rich people wealthy.

Rich as such, everyone can define for himself.

Accordingly, I would recommend especially the younger people take risks and try to create an income. Something with which you can earn "a lot" of money and slowly but surely build up a portfolio.

Mistake No.4:

The MOST IMPORTANT investment is the investment in yourself.

Especially young people including me think that everything in life is easy. For example, many including
me at that time, think that simple knowledge about the stock market is the way to get rich.

NO that is not true.

Everyone must have a skill set to work his way up in life. Accordingly, an investment of 50 € bspw. monthly would be pointless in my eyes in shares. Invest actually rather in yourselves, go bspw on vacation, try your luck with on and sales etc etc.

Try to use as many chances to learn as possible. We are still young and mistakes are often forgiven.

Maybe write emails to bigger companies for 1-2 weeks internships to see how certain companies are roughly managed, preferably small companies with max 20 employees, so you can look over the shoulders everywhere.

Also USE the internet makes sense you can really teach yourself a lot, but that requires a lot of discipline.

Buy books and possibly other courses.

Acquire as much general knowledge as possible.

Whether it is tax advantages in certain corporate structures or basic Excel knowledge, that all sets you apart from the others and lets you offer an added value to other people, whereby one will automatically earn more money.

The problem is 99% no one else but you.

And never give up, you don't HAVE to be rich at 20/30/40.

Money is just a means to an end.

Would you be interested in principle, that I tell everything individually, what I did how detailed? Or rather not?

PS.: Have a spelling weakness, work on it but please do not take evil.