That's quite a big profit that you expect there and for me my target is based on the timeframe of the investment, usually i expect a 50-80% profit in less than a year time frame but for the long term one i don't set any target as i will sell it if i don't want to hold it any longer or i find that the coin can't grow anymore or i find a better investment somewhere else.
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I believe that in the long term the price is going to increase again and i don't care that much about news because they create the article to get clicks, you also shouldn't believe everything that you read as it is, try to see if the reason makes sense or it's just a speculation from the article writer.
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The most important thing is that you should set stop losses to prevent that kind of situation from happening in the first place. You shouldn't leave your coin in exchange without safety measure like that because anything can happen when you are asleep for example. If you forget to set stop loss then you should identify the support level so you know whether you should hold for a bit or cut loss.
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Well it's a common sense to check your investment, although you don't need to check it everyday but you should at least check it every now and then. You can also use apps like blockfolio or delta so you can track the price on your phone and get notification if the price cross certain price. If you don't care about your investment then it's purely your fault.
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Hi I was wondering what the general consensus was on the use of technical analysis in making long term investments. I know short term day traders get allot of use out of it but if I'm investing in a project based on fundamentals does the technical analysis matter?
For long term investment you should put more effort into fundamental analysts as that's far more important to keep the project running and growing in a few years rather than the short term price movement. Like you've said TA is more important to know where the price is moving short term.
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I usually use rsi, ema, bollinger, to trade crypto, sometimes if i feel like doing it then i will use others like Elliot wave or ichimoku but that's quite rare. I only use simple indicator and compare them to other people's TA at trading view. If you want to learn then you can read investopedia and look at people's TA at trading view. I used to do that in my early crypto days.
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First trading bitcoin is safe as long as you know what you are doing, use a famous exchange and care about your security. I like trading in crypto because there's a lot of people here that are new to trading and they don't know what they are doing. I feel like it's easier to read the price movement based on the rumor and market sentiment compared to forex.
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If you think you lose more than you earn then you can stop and wait at least until the market is more stable but fyi this kind is situation is also fun for trading because if you take advantage of the bounce then it's a good profit with short time frame, you just need to identify the support and resistance zone.
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The price of the coin doesn't matter whether it is under or over one dollar as you should also consider the supply of the coin and the marketcap right now, for example ripple is under one dollar but the marketcap is one of the biggest one in crypto thus it need a lot of money to move the price. Lower marketcap project can bring you more profit but they are riskier aswell.
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I read that quite often but if the tips only tell you to buy some coin and their target without reason or some TA to back it then i won't follow it, if they provide an analysis then it's nice because you can compare yours and learn. It's nice if you find something that's similar to your own TA because you have more people with the same view.
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I don't have any problem so far with binance, they are definitely the best exchange in crypto right now because they keep adding new token that are good to trade, their ui is the best and the liquidity makes it easier to trade in big amount. I used to have problem with the dust from trades but you can exchange them for bnb coin so i am fine with that.
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I don't think there's problem with a lot of exchanges, at the end of the day the best one will have the most volume while the one that can't compete or have a bad development will get left behind. It's good to have a lot of exchange because they will compete with each other to bring traders and volume with lower fee or other event.
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It is working and you can also use it un crypto, at least to help you find out then to sell or buy, identity the support and resistance zone. Although sometimes the price in crypto moves very wild because of the pumps and dumps but you can trust the technical indicator most of the time.
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I already tried all three and so far i am the most comfortable with crypto trading. Stocks is also good and i earn regularly there but the overall profit then crypto is far above it. I tried forex before but i don't earn much from it maybe i am suited to trade forex. If you do well in crypto then you won't have that much difficulty trading stocks.
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Well some people don't have the time to do that and they only want to put some money and wait for some time until their investment bear result, it is indeed more profitable if they can trade between the holding period if there's opportunity. I have some coin for long term investment but i also have fiat ready if there's opportunity because i also trade some coin.
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So you want to go all in on every trades that you do? Good luck with that as everyone already rich if it's that easy. You are new to trading so 50% of your profit in a month is already good for someone new. If you do good trades everyday then maybe you can earn that much but there's always something unexpected that can make you lose a lot.
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I think the common mistake is they don't know what they are doing, they buy coin based on other people opinion and keep jumping ship when they look other coin's price increase several percent. They only buy something that's already up only to suffer the correction later, they believe the correct time to buy is when the chart is green.
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What do you mean recent addition, it's been there since long time ago, infact i remember to use it when poloniex is still the best exchange, bittrex and binance also has it. In my opinion a good exchange must have that feature as i use it a lot, my stop loss get triggered this morning so i don't loss anything otherwise i'll lose about 10%.
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I agree that you have to know when to hold and when to sell it when there's opportunity and wait for lower entry price to buyback later. You can make higher amount of money trading rather than just holding your coin for a long time, holding is find if your investment time frame is more than 2 year.
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First you have to use money which you can afford to lose, you can use the money that's left after you use them for daily necessities and saving portion. Then you should learn about trading first to reduce the bad trades that you can make, keep learning and use a small capital at the start, if you get the hang of it then you can start using bigger amount.
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