Normally, rather than saying day trading is fun, I would rather say making profit and a shit load of it from day trading is fun. Day trading itself is a lot of work that can even come with huge stress but the good thing about it is that you can end up making a whole lot from it and that is where the sweet part comes into play.

It takes a lot to get used to the stress that comes with it but as you keep getting better and confident in yourself; it gradually becomes fun when you keep seeing the increase that comes in for you.

Yeah, not new at all and it is something anyone that has been here for a while now should actually have got used to. However, this does not change the fact that the market's future is inevitably going to be great and even though we cannot see what the future holds, at least, what we have now is enough to give anyone hope that the chances of seeing a superb market is still there.

Such slumps like this are always a good time to buy into the market and it is just funny that a lot of people usually love doing the opposite. Except common bitcoiners, I believe all the big institutions are making use of every dip that is the reason still they are capable of manipulating the market movements.

In a way, you sure do have a point and in a way, your point was over stated. The market is in a B.S state but there is no point spelling doomsday, and if $1000 indeed ends up happening, how fun do you think that is going to be for a lot of people to pop into the market and see how they can benefit in it for the long term.

I actually do not care if the market drops lower than that. Get used to it, everything is bound to correct, and that happens in every market, so making bitcoin sound like the main idea is for it to keep moving up, and now because it is in a downtrend, you are giving $1000 theory, then you must be mistaken.

Staying positive is the only thing we actually have anyway and there is actually no way like you said that someone can easily just assume what the future is going to be holding for bitcoin. In the long run, it is sure going to be moving higher than it is now, and anyone who is focused on the long term, will really not bother about now, as long term thinking can indeed affect your short term decisions. The market is going to eventually recover, but we just have to wait to see when or at what value.

Maybe you are missing the point and maybe the topic is misleading, but if you read the OP, you will understand this is not about economy getting better, but things actually not getting that better. Although, in my country, inflation is gradually reducing, compared to how things have been over the years, not sure about the loan rates however, but somehow, not that bad.

If we are looking at the global level, it seems things are not that smooth and like the OP said, in the case where things may actually start getting horrific, we may even start seeing more investments into bitcoin and some other cryptocurrencies.

High or not, I do not consider anything tax from my part. My country has never helped in anyway, as rich as my country is, the corrupt politicians won't just let it develop as they keep stashing and looting funds. Facilities are hard to find and when you are well to do, you will end up having to provide that for yourself eventually. If I cannot get all the things that are necessary from my government, why should I then pay my tax ? It sounds ridiculous as this should be a mutual benefit, you pay me, and I pay you back as long as I see the value for what I am paying.

Months, years, days, no one knows anything asides the whales and the major stakeholders so I say though since it pretty much looks like they are the ones calling the shots anyway. However, no one knows how low or high at market can ever go in the long run, but one sure thing we all know is that at a point, the recovery will set in and we will get to start thinking of how high it will go. So far, there is still a possibility that the market can go lower than even $7000.

The little recovery we are seeing does not have anything to do with the long term perspective as it is normal to see those recoveries once in a while. It is important to always know that there is no way any of us can know how low, but the possibility is still very huge to go down lower if we end up breaking the major supports that we may expect to bounce from. We just have to wait and see how things would end up playing out anyway.

For anyone who is actually buying the dips now, one thing I am sure of is that by December, the value obviously is going to be far more than what it is now and that is going to be some sweet profit in that case. No one surely knows how the market is going to end up like, but at least at that time of the year; we would have had some pretty good moves, which probably could have set us up for a good price. We may not be too hasty to judge though as every year may not always come out the same.

Not just those who are late, one thing you do not understand is that those whales who have already sold at the peak, do not really care how low it gets as they have all the bucks to buy in whenever they want to and those who even missed the low back then, are the small fish that even when the time comes, they will still not take the opportunity to buy at dips. Crash gives room for more future profit and chance to have a better position in the market for the future when the profit keeps kicking in.

I really do not hate to say it, which is good for him and any other person in his position. At the same time, I still thank them so much, because they are the reason I actually get a lot of gains after buying tokens that investors bought at a higher price during ICO at a lesser price.

It is good he is learning from or has learned from his mistakes, but I am sure a lot of people still would not most of the time, and they are the set of people that always cry wolf when they see what they have held in the past doing huge in percentage in the long run. 'I used to hold that coin or token' is not an excuse.

More research is actually the main thing that would help and for anyone who thinks it is just by low volume, then I guess they will have a lot of people in their category to welcome them to the world of shit coins. However, there are some coins or tokens that do have huge prospect and may be undervalued at the time they got listed on the exchange, which is rare most times though, but possible, but that is the case one may want to take advantage of.

Only if you believe it is a project that is worth holding so as not to end up bag holding shitcoins and then you will just see yourself holding for as long as you cannot even imagine, while hoping that it would someday pump. Most of coins like that are basically good for pump and dumps and even if you want to be taking a risk of that magnitude, you want to be putting in what you can afford to lose and not something huge.

What is even there to overcome in the first place ?
The risk is there, and the only thing that can make anyone not end up being susceptible to the craziness that the risk brings is just by being reasonable, realistic and principled. A lot of people look at the benefit they get from gambling the most which is from winning and then they discard the most important thing that is applicable mostly to gambling which is losing and with that they set themselves in a blazing torch that is hard to quench at the end.

The only way when you know it is time to stop is if you have already placed a limit for yourself in the first place which is what most gamblers do not always do and one of the reasons why they end up flopping so bad that they lose everything. Once you know luck is not on your side for the day, and you have been able to gamble enough of what you intend to gamble with, then that is it.

No going further or having a rethink to want to go back and see how to win what is already gone.

The truth is that whether we like it or not or as much fun as we say we are catching, that urge to win will always be there and nothing will ever change that.

It is in human nature to always want to win, but the ability to now control yourself even with that mindset is what is important and if you best know it is hard to control yourself with such a winning mindset, it is better to look at the other direction or fix your mind to the fact that no matter what, the possibility of losing is much more and you do not want to set a trap for yourself.

If you are buying a highly volatile market when red which I believe the FAITH you have mentioned is in that category, you best be ready to be smart in making decisions when that red is not actually the red you are simply looking for.

There are some people who always just think it is all about buying the red or buying low and selling high but there is totally more to it and you really need to know what you are doing, when you should be buying, when you should be stopping loss before you even start considering anything.

It is one thing to be lucky trading an uptrend while buying dip but what the OP has shared is more of a long term trade and never mentioned any strategy except looking for undervalued coins.

Sometimes, a coin can stay undervalued or over sold for a long period of time, and keep going lower as the case may be most especially with this high volatile market for mostly altcoins, and you really want to know exactly what you are doing as a trader and how well you have planned you entry and exit and stop losses even before entering a position.

That is always the best thing when it comes to trading.
The best thing is to never use someone's position to judge your own position without at least knowing exactly what you are doing.

Most traders that always end up sharing their strategy will not be there to tell you when they are stopping loss and it is always important to at least know that even if you are using some of their analysis to learn, you are basing your decision based on exactly what to know so as to confirm their own analysis, rather than following every way as that will get any one burned.

In fact, the OP actually sound lame and not the kind of person one should be taking advice from. He earned $110000 and lost it all basically showed how stupid he must have been and even got lucky earning that much and I wonder why he is whining all about it and calling this a pyramid scheme. The Forex market fluctuates every day, but does that also make it a pyramid scheme? Some people just love to talk things that make them sound so lame. Selling all will only make such people lose out at the end of it all and start crying like a baby how they missed out.

Grandiose retirement indeed.. The truth is that saving up retirement in the bank does not even guarantee any return at the end of the day and a pretty good idea of putting in $50 monthly into crypto is one that is worth taking which obviously has paid up the friend.

We should not forget that this is a very volatile environment, and a lot of precaution should be taken as well, but I believe in the future and hope things get even better than where we are today to make the retirement worth it even the more, but really, it is a great plan and for that amount monthly, it is worth taking the risk.

Darkness still hovers around as the bears are still not far from the field as it is and for the fact that we can see some possibility of some uptrend right now, I am not so certain yet, that we are so out of it unless we are able to break out from some psychological barriers above us. We may be having a short term reversal soon or not, but time will tell and like I said and also as you have mentioned, nothing is absolutely guaranteed yet except to just see how events unfold at the end.

$7800 should not be a problem in a short while as there is going to be a possibility of that in this month if the market does not fall below the trend support around $6800. The main thing, I am looking forward to is the top of the channel we are in and probably that should be falling around $8800 or thereabout and a break above, that should bring about the possibility of $10k and that is where we need to know where we are going next before declaring if the darkness is over or not.