My biggest problem in trading is that I was too brave to buy altcoin at a high price, and because of that I often lost my btc, even once I lost 50% of my btc when I bought altcoin at a price far above ICO.
So please give me feedback on this, what should I do?
You've got your answer already. The problem is that you buy altcoins when they are too high in value. That is opposite to the basic rule in trading which is buy low and then sell high. That is what you should do next time. Try to buy during dips if you can. Avoid confronting the charts with your emotion. before we buy, we need to analyze the coins and we must know how much price we want to buy to avoid or prevent from the down. but if after we buy the price is down again, then the only one we can do is we don't sell because of panic or we can buy more in lower price and waiting the price is back. I am suggesting to not invest in the ico, its better if you do trading because the chance for you to make big profit is wide open. |
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congratulations to you OP, I am sure that people in your country which using bitcoin now is happy because they don't have to worried for using bitcoin and they can use by free because bitcoin is legal now. I hope the other country near with your country will make bitcoin legal too and soon many country will do the same like what your country did.
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Hi guys  May I know what are your plans on your Bitcoin in the future? Do you plan to keep on investing on Bitcoin related businesses or do plan to convert it into fiat and ventures on new business? I'm planning to invest more on Bitcoin related companies and convert some of my Bitcoin into fiat and invest it on our local stock market. How about you? Honestly, I would like to spend my bitcoin for a new phone. My phone is an old model already and cannot support reCAPTCHA. We all know that whenever we try to login to this forum, we need to fill up reCAPTHA and it is okay for me because I know that is just a part of improvements especially for security purposes. for sure bitcoin is the best source to make money through investing in it for long time, bitcoin is making the life so beautiful a lot of the traders are trusting bitcoin they are not even afraid of loss they are holding bitcoin so I also planned to make money by investing in bitcoin and holding my bitcoin for long time it will provide me a bright future if we are invest in bitcoin for a long term, then this is our plan with our bitcoin, we don't afraid if somehow bitcoin price is down because the price will be recover and will be back normal. for me, my plan with my bitcoin is I want to save more bitcoin for long term like other people so if the time is come and I see bitcoin price is increase into $10k, I can make big profit in that time. |
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I'm not a day trader - in it for the long term.
How can I convince myself not to keep looking at the market charts multiple times per day?
you need to have another activity so your focus is not for the market charts, I have this experience before but fortunately I can search other thing so I am not looking at the market charts too often, maybe in one day, I only watch several hours a day. this is good for you as you said you want to safe for long term and I think you can try it. |
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the government here in my country indonesia there is no step to make bitcoin for legal payment instrument, but do not rule out if in my country also will be considered legal if bitcoin later become global currency
They maybe active late but when they see the volume of transactions are getting bigger for sure they will act accordingly. Small countries do usually follow big countries in terms of regulation for this currency and just wait for the right time and enjoy what benefits you can get using bitcoin. When they see how the countries that implemented btc got benefits on it. Theymight take it into consideration, but knowing btc is decentralized it will be hard to control it. Government must have advanced technology to atleast monitor btc user or establishments accepting btc. government will use their capabilities to rule bitcoin and they will try to make regulation related using bitcoin for their citizen. but i don't think that the government can conquer bitcoin as bitcoin is not controlled by them and the user is free to use bitcoin without having limit border between countries. |
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Most altcoins have some technical difference compared to Bitcoin and that is often the reason given for why people invest in them. The reasoning is that since these altcoins have much of the same utility of Bitcoin plus something else, the altcoin can be more useful than Bitcoin and thus take over.
That is possible in the future for bitcoin to get replaced by the altcoins because most of the altcoins are advanced than bitcoin and they have a specific target which is above bitcoin and it can be the replacement if the developers or the team behind the altcoin is really serious and working hard. yeah but it still difficult to replace bitcoin with altcoin because people know bitcoin first and then they learn altcoin and I think bitcoin is the most used by people for withdraw into fiat than altcoin. people used bitcoin because bitcoin is the first crypto currency which become famous today and until now, there is too many altcoin to choose and it makes too confuse to selected. I think people will prefer to have bitcoin and beside that bitcoin could be their long term investment. |
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its better if you try mining by yourself than invest in mining site because there are no legit site and if its exist, we need to wait for a long time before we can reach our ROI. my suggestion is better you use your money to buy bitcoin only and save in your wallet or you can use for another thing to increase your bitcoin than only for investing in mining site.
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I am not sure this is a god strategy, I have 5-6 coins, and try not to keep more than that as it becomes impossible to keep following the coin's news.
Is holding up to 5-6 coins only too risky ?
how many do you hold and what is your rationale for that number ?
i think its not too risky to hold 5-6 coins because you can easy to manage the coins itself and you can make decision for selling or just hold for a long term. if you have more budget, then maybe you can use for trading and keep that 5-6 coins for long term and you can use the other coins for daily trading. I think its depend on how much your budget and how good you handle each coins, if you are newbie in trading, I suggesting to hold until 7 coins but its up to you. if you think you can hold until 10 coins then go a head but if not, I think 5-6 coins is enough for you. its better to hold for a long term as in the end, you can make big profit. |
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if we only have small money, then we can buy bitcoin with small parts too. this is what I like from bitcoin, we don't have to buy 1 bitcoin in directly, we only need to buy what we need. after we buy bitcoin, then we only need to hold for a while and we need to make sure that the price is up then we can decide to sell our bitcoin to gain the profit. |
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i still hold my eth even if I see the price is down and I am thinking for buying more eth again but I need to calculate my balance first then I can decide later. I think you can buy more eth when the price is down like now or later because its your chance to increase your eth amount in your wallet and after that, you can wait for long term.
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Just thought I would let everyone know about my first attempt at day trading. I've been invested in Crypto for over a year, but nothing makes me more mad than knowing I could have sold and bought back in to accumulate more.
Bought 5000 Sys @ .00003447, sold today at .00006630.
Hoping to see it drop to 6400 to buy back in. Prayers to the crypto gods
you do great job with the basic of trading strategies. you can buy in lower price at 3447 satoshi and you sell at 6630 satoshi. yes I am sure soon the price will drop but I don't think the price will be down into 34xx satoshi, maybe its about 4xxx satoshi and you can buy back again and make a good profit like before. but you need to be careful because sometimes if the price is down, the price is down for more but you don't have to worried because the price is always increase as long as there is nothing bad happen in the market. |
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And for Transfering your funds to an wallet i recommend you to go for Bitcoin core,Electrum,Trezor, and Multibit. These Four option are good and safe to use.  (Classic or HD)... both are old, outdated and no longer supported by the developers... HD also has some really bad bugs that will potentially lock you out of your wallet and make it really difficult to recover your coins. Bitcoin Core if you want a full wallet Electrum if you want a lightweight wallet Trezor and/or Ledger if you want a hardware wallet thank you for reminding us for not using multibit because so far I am using multibit but fortunately, last time I save my bitcoin is 1 month ago and now I don't have any balance in multibit. if its the case, then I am agree with you to use electrum or bitcoin core because its better if we use offline wallet like you said and not saving our most bitcoin in the exchange because its too dangerous and no one can guarantee that saving in the exchange its a safe place. |
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Bitcoin is for every people but he need to learn about bitcoin so he can try to earn bitcoin too from many ways. Beside that he must have passion to learn so his knowledge or his skill can increase and he can earn much of bitcoin.
I have a friend which only graduate from high school but he want to learn bitcoin and he studied hard from many source. Now he can earn bitcoin from trading and in each weeks he make withdraw in big amount.
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Hello,
THIS IS A QUESTION FOR EXPERIENCED TRADERS IN BITCOIN
I am a novice in BTC but have been lucky so far. I bought BTC at under $2000 and have now sold it at $4100. I am sure that I have made some mistakes in the way that I have bought, stored and sold the BTC.
I now want to trade both long term and short term in BTC. I want to trade in minimum USD $10,000 blocks
Long Term What is the "best practice" processes to buy and sell BTC?
Where is the best place to buy BTC using USDs
Where is the best place to store BTC using USDs. As a result of my limited research, security seems to be a major issue. I am prepared to buy a dedicated computer solely to store the BTCs if necessary
What is the best place to Sell BTC using USDs
For long term, you can buy bitcoin in any price and hold in offline wallet and you don't have planning to sell in short term. With that amount, i think you can split the btc you bought into 2-3 part. For example, you buy 3 btc, you can split 1.5 btc and hold in your private wallet and only use 1.5 btc for trading. The amount you can split is depend on you, how much you want to use for trading. If you learn more about trading including learning about how to analyze the market, then i am sure you can make profit. |
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I guess I am too late to the train but I made a small purchase of a fraction of bitcoin lol. I am not rich by any means. Hope this is a good decision lol Wish me luck. Where do you think BTC will be in next 2-4 years?
i think you are not too late because the price now is at low price so you make good decision to buy bitcoin. And if somehow the price is getting down,you can hold and don't sell,just waiting a moment because the price will recover and back to high. There is not too late to buy bitcoin because we know and you can read in many sites that bitcoin will increase more high than the price before. Many of us still waiting a good moment when the price is moving up and reach new level price. |
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Which is more risky buying a token from the ICO or in trading?
In my opinion buying a token from the ICO is more risky than trading. Because in ICO, we don't know what will happen with the project in future and there is no guarantee that the ICO will success as the dev and teams want. But if we are trading then we have big chance to big profit although we can get loss too. And if we are loss, if we still holding the coin and only wait for next increasing price then the chance is always big but we don't how long wr have to wait. |
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The Chinese government banned ICOs. Naturally as a result, alt coins started dropping. People are fearful they won't be able to get their money out with the government cracking down.
For the next couple of days I think it will blow over and go back up, but only time will tell.
there is no valid reason that because of the banning the sudden drop happens. Chinese already did it a few months ago and still the crypto remains to sore high and higher than before. yes maybe that news is one of many reason altcoin was fallen and it just makes people panic selling although I am sure that there is another reason that makes altcoin price decrease like now. but if its because of the ico scamming people, I think not all ico is bad because I am sure that there is many ico which will give benefits for investors. |
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so far i am using third party when I want to withdraw my bitcoin to cash. I am using my friend services as his job is local exchange for helping his friends to buy or sell their bitcoin to him. but if he is offline, sometimes I use localbitcoin and search recommended seller and after we're deal then I sending my bitcoin to him and he transfer me the money.
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Bitcoin is always better than cash.For our bitcoin earnings,we are not accountable to government and we need not have to pay taxes unless it is legalized in the particular country.With bitcoin,we could easily send huge amounts of money with very low fee at high speed.With bitcoin,our money value increases,but with cash,our money just remains idle.
And even if you are traveling overseas then there is a limit to carry certain amount of cash and there is always a risk of loosing money or getting stolen or robbed but you can carry any amount of bitcoins in your bitcoin wallet and no one will come to know how higher amount of money you are carrying with you. beside that, if we travelling into other country, we don't have to exchange our money to local fiat for every country. but with bitcoin, if we can always exchange from bitcoin to local fiat no matter where we are. and if that country have local store which accepting bitcoin then we can directly buy something with bitcoin. |
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Yes I think bitcoin has defeated gold when it comes to value appreciation its just that bitcoin needs more stability with regards its price. I guess in few more years bitcoin will become a big currency in the market
I only agree that bitcoin has defeated gold in price but for the investment, people out there still like gold than bitcoin and its proof that they don't know anything about bitcoin. but like you said, if bitcoin could be spread in many country and could attracted many people and many of them is join bitcoin, then we can say that bitcoin has one step ahead from gold. |
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