With the following criteria...
1) Make spendable (can't use it to trade) $5,000 usd net a month.
2) Daytrading full time.
3) No other means of income (can't sell my service).
*4) Starting with $15,000.
5) Trading all crypto (not just btc).
* If it's not possible with $15k, then what's the minimum it would be possible with (of course this is considering this is the only hindrance).
I think point 5 is very interesting for those of you who really aim to get a profit in a month for only $ 5000 even when trading in several types of cryptocurrencies that are ranked in the top ten based on my experience can get more profit from what you are targeting. |
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too many plans will make it even more confusing in every trade, because making a proper plan is only two phases, where the first phase is trading in the safe zone holding potentially good ALT on every move and the second phase just needing to hold on to the price of each exchange.
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This depends on the personality of each trader, not always the profit generated is used as capital for further trading. If a trader already has a lot of advantages in every trade, and is willing to help his friend who is in trouble and feels sorry for his friend's financial problems, this is not a problem for me. We as traders who are already earning must have a social sense to help each other, in life we cannot predict that in the future we will also need the friends we are currently helping.
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If improving your trading career by adding insight by reading books and articles is also a great way. Noteworthy is the commitment to study and practice in the market, trading skills are formed when theory and practice are often carried out in the field. This is a good plan, the theory that has been obtained is immediately implemented in the market.
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sometimes we see this problem as a political economy, where every year China issues bad statements against BTC and this looks very stale and unfit for consumption by BTC users, it doesn't even affect price movements but the number of transactions is getting bigger every time from exchanges managed by China.
stay focused on trading to profit from every price movement and regardless of any issues.
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the time frame in crypto trading solely depends on the level of trust when looking at the exchange. if the market conditions are right when it falls, then the opportunity is right in front of your eyes to be used, just like the algorithm used in trading robots and even then you must have sufficient capital when the robot is in a losing position in the fourth round phase.
as for the minutes you use are also determined on each price movement.
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Trading on the exchange is a trading process that sometimes you don't realize, because every crypto asset you own is only aimed at short-term profits.
Try to do something very simple without panicking to get profits in the long run and keep the price so that you don't get dizzy with the price movements on the market. so simple
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I invested in cryptocurrency in March of this year for Experimental. What I understand is that you should not invest only by reading the post or by searching Google. I should learn market analysis. Or there is another way to understand the market?
basically the way you read other people's posts is a lesson from an experience, because every crypto investment is certainly not as smooth as you want it to be because it is very volatile. How to analyze the market is enough to pay attention to price movements at any time, or be in a safe position by holding on to the selling price you set for a long time. |
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I don't understand what you mean by 50:50, but what you said about spot trading has been proven. mental readiness and patience is needed to wait for the results of spot trading, this is a good strategy to start trading. Spot trading makes traders' emotions more relaxed, as you said it doesn't form a greedy and get rich quick mindset.
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Strategy is born when you deepen your knowledge of the market, you have to practice your own skills. When you start trading, it's best to use small amounts of money. There is no fixed strategy for trading, you must have trading experience so that you can apply the strategy according to your trading style.
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there are many sources that can be used as references to learn trading, the most effective I think is learning directly from friends who are seniors, so we can ask anything about the world of trading, on the other hand we have to enrich our trading knowledge from watching youtube and books that can support our trading lessons , because not necessarily we and our friends will have the same trading style
Yes. Learning from friends who are already pros with trading is easier for me. I spent two months getting to know crypto for the first time and how the trading system works to earn money. I understand very quickly, because they teach directly. The rest I expand my trading knowledge with tutorials on youtube and online media articles. Actually only one key to success in trading is to stick to what we have learned and what we plan to do. |
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There are basically two types of trading on binance generally (SPOT trading and FUTURES trading
📌 Spot Trading: you buy any coin of your choice at any given rate, you HOLD for it to rise higher, you sell at any point you feel it has risen enough
📌 FUTURES trading: you predict whether a particular coin is going to rise of fall in price, if it goes in opposite direction from your prediction, you lose your money and your coin
Note: In SPOT trading, you can never lose your coin, the worth of your coin can only reduce but your coin remains to rise again in worth when the market goes green.
Yes, I prefer spot trading, When my financial condition is sufficient for daily needs. However, spot trading must have patience, and must have a high mentality when the market is dump. This trading technique is perfect for new traders, provided that don't buy coin memes. Since the future of the meme coin is unpredictable, it may die in the market due to the abandonment of its owner. |
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Bitcoin has no physical presence. What if we just stop believing in bitcoin. I mean every country has the equivalent of gold to their fiat. Bitcoin has no gold or physical value. Can this ever happen ?
Bitcoin certainly does not have a physical, bitcoin is simply a digital currency that is traded to earn fiat. If you say Fiat has real physicality and value, this is governed by humans. this is also the same as bitcoin, its value is also regulated by humans, so bitcoin has a price and makes bitcoin trading or bitcoin investment a work space to earn fiat. For me bitcoin is a space to acquire fiat with the aim of financial freedom. |
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Yes, learning from books is also a good solution for trading. but I don't use sources from books to trade, for me to practice trading skills and expand market knowledge it's easier to learn from tutorials like Youtube, courses and articles. besides being free, it is also directly practiced in the direct market.
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Many courses are available online, as are some platforms like Telegram. And in my opinion, what should be paid attention to is the instructor, the forum instructor must be someone who really teaches the right skills. Of course we choose instructors who are trusted and have given birth to many successful members.
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What effects, both positive and negative, does the fact that a substantial proportion of people that invest or get involved with Bitcoin in the first place, have the intention of making profit in a fiat currency as their primary objective? There are many people who do not fall within this category and many, who start in this manner, that then take on other ideals and ambitions. There are also many who want to "cash in, cash out".
for me of course everyone who is involved to invest in bitcoin expects profit for financial freedom. bitcoin can improve the economy and also facilitate transactions on every major exchange. Speaking of economic problems, of course, this is a matter of daily needs, in the end the investment goal is fiat. because fiat becomes the official medium of exchange in every place of buying and selling and services. |
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Of course studying support and resistance is very important, because it is part of the basis of technical analysis.
If we can determine the support and resistance levels, it will be easier to determine the buying / selling price of coins.
After all, mastering support and resistance can predict market prices, thereby reducing the risk of trading too.
Yes, it will reduce the risk in trading. In my opinion, this is a basic technique that we must understand, with fluctuating market conditions making it easier to determine support and resistance. Although basically Crypto cannot be predicted with certainty, but with the shape on the chart between support and resistance it makes it easier for a trader to understand the market. |
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I think this is only for some young people who have been using Crypto for a long time and apart from being a bounty participant they are also active in trading. For those who are new to Crypto during the pandemic, I am not sure if they have made a lot of trades or they lost money due to lack of trading skills. There are so many young people who became unemployed during the pandemic and turned to Crypto trading and soon they became newbies. Like some experience, novice traders always have bad things in trading due to lack of skills and experience.
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Right as you said. The market situation is very difficult to predict, even some of the old strategies we can no longer use. Every experienced trader certainly doesn't learn just one strategy, there are many strategies they use. Actually this depends on market conditions, we must be able to dominate the market by making strategies that are indeed effective to gain profits.
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Trading need experience and experience comes with trying again and again, by buying only one coin and failing in that doesn't means you are a good trader, as i have lot of trader which are my friends but they didn't have that much experience even they are earning, but sometimes they made losses which hurts them a lot. This is only lack of experience and not having much patience.
Trading again and again without making profit is the worse cause you are losing money in the process and may end up being broke, people are only advice to go into trading with much experience and Trading shouldn't be seen as only source of income or a profession, it not something you keep trying without profit That's right, don't make trading your main source of income. The risk of loss can come at any time, so it is not natural for people not to have other real jobs. Talking about trading again and again will make bigger losses, actually to start trading next do a better analysis. Of course, people who are able to analyze it already know the strength of the market and skills in trading. What needs to be removed is the mindset of getting rich quick in crypto, nothing is instant because everything requires process and patience. |
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