Along the journey of a successful trader, painful experience with loss is unavoidable. If any successful trader says he or she has never gotten loss in trading, short term and long term, small and big enough, it is lie. I don't mind who is the person says it but it is definitely a lie and you should find another person to learn or listen to, not that one.
I get the point here that you are saying. I think that while we watch the videos of traders in YouTube we can know genuine traders by the losses they have and not to avoid talking about there losses because as you said that every trader record some losses but at lower times compared to the profit made. The profit should be higher in percentage to the losses. |
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I think your number 4 and 6 are suppose to mean same thing. Back testing and demo is more of talking alike. Your help is good for newbies. As a trader demo trading is needed to test run your idea and your plans/strategy to see what you prefer most to trade with. In demo, you compare different leverage and this is important. back testing is when you're looking for a pattern/strategy on the previous history wherein to figure it out how accurate it is in different time frames. So it is different with the back testing with the bot? or was it the same thing? Thank you for replying to my post, I'll think I'll dig more in this back testing to follow this steps of yours to become a successful trader. I think back testing means that you already have a pattern and you want to understudy it. You want to look through the charts and graphs to get the pattern, so you can trace based on time,date etc. |
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The only thing we can do is to ride the trend in order to make profits, not go on the opposite way of the trend.
You are correct true it is suppose to be is there a way to know the trend or a way to ride the trend because as far bitcoin is, no accurate time for sell or buy is known all is under probability even with the professionals , they look at support and resistance and also they watch and analysis the charts before taking a decision. |
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If you are hodling a coin whether bitcoin or altcoins there is no actual loss or profit in bear or bull respectively but what we have in bear is reduction of the worth of the coins in dollar or USDT and if in bull the same value increase too but the important thing of note is that for hodling the amount of unit of the coin is not changing. Example if you have 10 btc, it remains 10 btc whether in bull or bear but the worth, value or price keep moving or changing.
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The analysis is good and directional to the expectation of what movement that RSI has done in the past. Well I observe that there has been progressional move from 2011 around the halving and now in this coming halving, we don't expect any thing below the last halving calculation for RSI.
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When it gets pumped sell your holding and when it is dumped buy again at lower prices.
How if we already bought at the previous pump? Although there is a pump, the price still cannot meet the target to sell. I have some altcoins on the wallets whose values are far from the buying price. I am still holding although there are some pumps lately because their prices are still very cheap. I don't know how long to hold, but there is no another choice, only hold. You will do a research about the project if it has chance to pump in the future. The way you can research on that is if the project is talking of future plans and schedule of listing or introduction of some creation and innovation to what you know. Like some times a project can do a swap, change name or create some more features and by this you know hodling for future can do you good. |
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A successful trader would not have to share anything with you for money. The trader would already have enough money to not work. Everybody who presents themselves as a successful trader and tries to sell you something is just a trader who is able to make some profits but nothing substantial for a living.
I also think this way because the trader that is having assurance of his strategy to make profit and having that confident will go there in the market and produce whatever profit he wants and not wanting the money from newbies just learning the trade or traders finding diffiiin their trade and needing helping hand to succeed. The trader that has succeeded because a teacher to others when he has time but not relying to take money to in telegram group. |
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even you used 1 indicator only such MACD surely you have a good win rate.
Honestly MACD is one most confusing indicator and difficult to interpret accurately. It is better to use MACD with other indicators like RSI but support and resistance combination is best for it because it goes after the price too. It is not to be trusted being used alone, doing a taste combination can help to find the better one. yeah RSI is very useful as well to see if the coins growth rate is over sold and over bought especially when it comes divergences wherein very common strategy . For sure it will become more easy with the combination of support and resistance wherein no need to apply more indicators especially if you're a swing trader and scalping. But for me i will still gonna add 20 and 50 moving average because they're very respected as well.. If you add 20 and 50 MA you are still going to get the same result too. I think MA and RSI function the some way, they are to reinforce , strengthen your confirmation. However more traders depend on RSI more compared to MA. About the RSI too sometimes it stays on overbought for a long time or over sold and market price is going other direction, this is confusing at times . |
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When it comes to crypto currencies, most of us are interested in the independence and anonymity of cryptos. All that will be lost if we go for government controlled digital currencies. The government's are trying to become part of the crypto world, but investors will likely not buy into it.
The interest for cryptocurrency will still be retained despite maybe government introducing different digital currency. They are both different and the independence of crypto still have no comparing nature with fiat or digital currency and that won't affect each other. The Chinese have their yuan close to a year and India too has rupee but none is taking anything out from bitcoin. Bitcoin drop is not relating to digital currency. |
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And part of this plan should be planning for your loss especially in this volatile market. Learn to exit and cut your losses when having a bad trade. And thats what you did right now..  Take a break. Maybe trading is not meant for you Regarding to the losses made, I believe that proper money management skill will help. If you use lesser leverage or no leverage at all then when the volatility come your account won't shake. Also the use of stop loss is important to our trade, it takes better care of our capital not to go with the trade within seconds of volatility but it just guide you form huge losses. |
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Among all that has been listed like CMC and the rest, if you get a project that you want to monitor you don't do that on the face level alone by seeing it on the website and you keep rechecking there, that won't be a proper analysis for you to judge the project. What you need is to join the telegram of the group and there you can see what others are doing and saying too on the project.
What is wrong on rechecking it on CMC? When CMC does a good job of listing the coins information. CMC do have a real time update to see the latest news that happens with the coin. Joining the coins communities is a good if you want to know what others are thinking about the coin but watch out for bots. If a project is not lively, they will try to add bots but I think this can be detected easily because the conversation of a bot can repeat OP is only concern of the new coins and if which website to use to see a new coin but he did not include if which site he will use to to know more better about the coin. Before I I forgot we also have coingecko, they have the same function as CMC. Of course there are various means to check new listed coins in CMC, coingecko, binance and more others but the value point is to have a real conversation with community of the coin you can look for the community groups and either telegram can do that. Relying on just the exchange information is not enough means to DYOR. |
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I don't think that with the current market situation, there can be an altcoin that can give 1000x and not be a scam. I believe that only on a growing market there might be such huge price multiplier, and during instability or flat market, no one invests a lot in meme coins, due to increased risk, or due to opportunities to buy more promising and reputed alts.
Meme coins could possibly reach 100x if would be hyped or influenced by huge personalities just like what Elon did to Dogecoin but I think 1000x is too much in a current market situation. However, investing with meme coins could only lead us to a bigger risk than investing with well-established coins so if you want assurance, top coins would still be a better option. I think newbies will fall more for meme coins and the reason is just that they will have that believe of buying very cheap and want to hodl for long time and the shit coins keeps dropping because experienced hodlers will dump as soon they get a little difference in profit. Meme coins can be profitable but not usually for long time. For the moment dogecoin and Shiba are the likes that investors are hodling and having faith on. |
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even you used 1 indicator only such MACD surely you have a good win rate.
Honestly MACD is one most confusing indicator and difficult to interpret accurately. It is better to use MACD with other indicators like RSI but support and resistance combination is best for it because it goes after the price too. It is not to be trusted being used alone. Been using MACD with RSI plus having support and resistance and some moving averages with my trading analysis even though its a little bit messy towards my chart but at least you do know on how to read up them which this would be the most important thing to have as a trader. Yes just like as I said it that to get fair good trading result with MACD is to have a combination of other indicators in your trading tools and you have rightly mentioned them too. A combination with support and resistance will guide every trader irrespective of the indicators you are using. Some people do combine with Elliott waves but not certainly a clear signal trading. |
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Yes, it's correct. That's trader make profits and gambler get loss every time. Gambler has no knowledge about market analysis, when he sees a coin increasing he buy that instantly. that's why he often gets loss. The gambler always does short-term trades, but the trader knows fundamentals so he does long-term trades.
Op is not referring to those who just jump into trade and gamble with it but he is talking regarding the word gamble itself, that is those who bet games or stakers. So not the way you have understood it and analysed it, they are quite different. Gambling your trade is not same thing as gamble with betting of games like football match, poker or other casino games, they are different I hope you understand that now  |
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This is why the stock market are so inflated right now. People simply don't know what is a good place to park their funds with good returns - and they are chasing after risky assets as a result.
Many people now realized to invest there money and probably that why op is asking of no liquidity. So investment is usually now parked in crypto asset. In the past I believe there is high liquidity in the countries of the world but now they look to invest in bitcoin and I believe that the safe place to invest is bitcoin because you always retain the unit of coins you have no matter the rate of dropping or bear, it will still rise. |
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I don't understand what you want traders to discuss about him. You would have provided something like his strategy or something else about his success or failure to be discussed because trading isn't a straight thing to success immediately. He may have had his rise and fall before he got to where you or we could find him on Google search. So you can provide either YouTube video or what he wrote about his work. I'm sure this forum has gone traders that can contribute to whatever strategy he got. Nice job searching though and getting us the picture of
"29 Year Old Legend In Crypto Trading".
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Inflation and inflationary expectations go hand in hand. A large part of why Argentina is unable to keep inflation down is simply because people have come to expect high inflation from their nation, which inevitably leads to a self-fulfilling prophecy.
Someone living and surviving with a disease for a long time consider it as normal because they know how to manage the disease to keep surviving. This is the situation possible in Argentina. Over a long time it has been heard how South America is having inflation. The government need to take long lasting solution to the situation. There ways to do that like reducing cash flow in the system. |
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If you look at the price chart in the current crypto market, the downward trend in Bitcoin prices seems to continue until the end of this month and the bitcoin price has the potential to fall again below $40k. Though the price of bitcoin had touched the price range of $ 45k in the last two days. However, the price did not last long, and currently, the bitcoin price is trading at around $42k.
However that it may come back to $40k but there is a strong retesting of that range since a week ago and that has happened like 3 times. Usually in the market if that happens in such number of times it may push away for sometime and that was the reason price moved to around 44k and 45k. It is going to be a new trading week and lets watch volatility can do. |
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Among all that has been listed like CMC and the rest, if you get a project that you want to monitor you don't do that on the face level alone by seeing it on the website and you keep rechecking there, that won't be a proper analysis for you to judge the project. What you need is to join the telegram of the group and there you can see what others are doing and saying too on the project.
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