Can someone balance me real quick, how do people get losses even though we know that Bitcoin is destined for growth?
is it because people are looking to buy and sell quickly which may result in a loss if market falls?
Because in my view i feel like buying and holding on to your bitcoin until its value has increased(which is an assured) will always set you for profits.
please correct me if im wrong...
but basically, you have to often learn from the knowledge that is always here, you just need to study and if you don't understand, you can ask questions. because if you already want to join crypto then you have to accept all the consequences that occur if you have done it. but when it comes to luck, sometimes luck is not from you just following crypto or have been following it for a long time, because the problem of luck can be obtained by anyone. the basic principle is that you buy when the price is down and sell it when you think you need to sell it because luck is there. everything comes back because of experience that continues to be honed in order to know when to take these actions. There is luck in trading but professional traders especially those who are consistently making profit from the market are not depending on luck. People think that you can gain huge money if you will depend on luck especially the new people in the market but it is not true because the real secret in trading is mastery of the strategies and also many experiences in the market. Those people think that professional traders are so lucky and it is the reason why they became profitable, I can considered it as a myth because professional traders are also experiencing losses but they have good risk management and it is the reason why they manage to have small losses only. Holding or buying bitcoin doesn't guarantee that we are going to have a profit, it is one of the misconception that I wanted to remove because those who are not yet have foundation think that they will easily gain profit if they put money on bitcoin. |
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Actually I got better trader in this current situation wherein we are still in pandemic, before I have having a hard time because of my busy schedule but I decided to go full time trader when I lost my job. I started to trade last 2 years ago but this is only the time that I really commit to become a student of the market, I'm now having a consistently profit but I still want growth and it is the reason why I keep investing in my education in these past months. It is good to be trader nowadays because of the excess time that we have, we can grow in small time of period by gaining a lot of experiences and learning new strategies and concepts that we can use in cryptocurrency market. The good thing is I really obsessed to my personal growth and it is the reason why I keep trading bitcoin and other cryptocurrencies. I keep avoiding defi because they are so volatile and there are always huge dump that keep happening in just a day. The return is good in defi but my risk tolerance is not yet good and for me to prevent huge losses, I usually avoiding it. I actually created a thread before about cutting losses so maybe it can help other traders especially those newbies who want to develop their risk management. Cutting losses can prevent us to have huge losses and for me this is the first step to become a good trader if we learn how to do a stop loss.
https://bitcointalk.org/index.php?topic=5261095.0 |
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Indeed, just reading without practice will help little. Investments must always be carefully considered. When it comes to books, of course, Robert Kiyosaki is always good. It can be read regularly.
But also in addition to books about investments, the book "Black Swan" by Nasim Taleb has very great wisdom. After reading and understanding this book, you will be prepared for the fact that sometimes something happens that we do not expect at all. And this is what can affect your investment.
The rich dad poor dad by Robert Kiyosaki is the best book for me especially for those who want to make investment but their intelligence is still not enough. That book serves as a trigger for millions of people and I'm part of it and for me it is the reason why I'm still here in the cryptocurrency market. There are a lot of concepts that you can learn from that book and also his second book which is the cashflow quadrant where he discuss the 7 levels of investors. I also suggest the books of Harv T. Eker especially the secretes of millionaire mind because there are things there that you can learn how to become successful in terms of investing. I do not yet read a certain book that the topic is pure cryptocurrencies, I usually read books that about stocks because a lot of books are been published in these past years and most of the strategies are also proven. I applying the strategies that I learned from the investment books that I've been read in the cryptocurrency market and it is the reason why I'm still profitable in these past years. |
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Bitcointalk Username: TitanGEL Profile link: https://bitcointalk.org/index.php?action=profile;u=1000265Rank: Sr.Member Current post: 1356 Btc Address: bc1qzynmhqkfzgsklskvqce62g629dap0rm5pa8qg3 Earned merits in the last 120 days: 13
(Note* I currently have 13 merits but the 5 merits will be expired later at 11:44:38 PM) I hope you considered my application. Thank You! |
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For anyone asking this question, investing in BTC is always good - but only with that money you’re willing to lose at any moment - for some people it’s still better to stick to fiat or maybe gold.
I'd say those asking similar questions to this, should probably hold off investing into Bitcoin, until they've learned more about it, and how much the Bitcoin market has swung back, and forth over the years. Its probably never a good idea to invest in something that you aren't at least a little knowledgeable about, and wont have your opinion swayed easily, especially when listening to those that are on a Bitcoin forum, because their outlook is likely to be more positive than a broad investor. People make big mistakes because they have a mostly misconception about what Bitcoin is, and it is often described as magical internet money (used to promote in Hong Kong recently). When a moment like this happens and the price suddenly starts to rise, it is logical to create a FOMO effect that is ultimately fatal for some because they have no experience. I absolutely agree that we who have been on this crypto forum for a long time may not be able to be completely objective in giving such advice, but I always try to be as objective as possible. In real life, I have had situations where I have helped people invest in BTC, but their ignorance and ignoring of all my advice has resulted in a financial loss due to improper use of crypto wallets or loss of backups. That's why I say that for some it is better to stick to traditional investment, not because I don't want them to be part of the crypto world, but because they are simply not ready to be their own bank. The ignorance is what makes people to lose their investment, they are just buying bitcoin because they heard it from somewhere that the price will increase and it considered as FOMO. It is good to buy as long as their is a plan wherein there is a right entry point and also a cut loss level wherein if the price did not materialized on what is your bias. Financial education is really a big help when it come to investing, I pursue other to make investment there first before they started to buy bitcoin. There are still many opportunity in the market and they can easily get it if they have financial education. |
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Trump is ahead in Georgia, Michigan, Pennsylvania, North Carolina and Michigan
Biden is ahead in Nevada...
Wrong. You seem to be a Trump supporter which is why you are neglecting how close the tally is currently. Biden is ahead in both Nevada and Wisconsin and just needs to grab one more state to secure 270 seats while Trump needs to secure way more states in comparison. Trump is clearly scared since he already declared that he won and wants voting to stop making himself look like an absolute idiot as usual. Trump is in panic now seeing that Biden is almost winning the presidency and I don't know how he will bring up things for declaring his self as a winner and also he stated that he will go to supreme court and about the fraud on election so maybe this is pathetic action for him if he really pursue this. But the election is not done yet maybe there's a little chances but I guess Biden will win. There are 6 states left and anything can happen, Joe is currently leading and it makes really Trump to be nervous. I recently see an article saying that Trump threatened that he will go to the supreme court in order to stop the counting of the votes because he said that there is cheating or fraud that happen. The win rate of Biden is now high and only small chance that Trump can reverse his current situation. I do not know if Trump have high supporters on the 6 states left but for sure that there will be a good outcome in this election. |
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I'm a trader whose main forte is technical analysis, I also believe that history itself loves repeating especially in charts. Kindly look the DNA of the bitcoin wherein there is also a breakout that is look a like on what happened in these previous days in the chart. The price is now hovering at between $13300-$14,000. I thought yesterday that the price will hold above $14,000 levels after the closing handle did that. There is a red candle appeared in this day so there is a high possibility that it already hit the resistance and it will retrace in these following days. That is just my expectation and I will still follow the plan that I created.
For those traders who do not know when will enter in the trade, I think it is better if to understand and study the recent price movement of the bitcoin. The pattern are always repeating and like what I said that history repeat itself. It is just a cycle and a trader or investor should understand it and became aware on what it is in order to maximize the gains.
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it really depends on your luck i've been doing this since before there are times that i lost more in the process of recovering my losses but there are times that i am making more profit so i guess it still depends on luck but in my experience i mostly lose more rather than recovering my fund.
Luck is factor but for me luck is being created and we can have it through studying and gaining a lot of experiences. People thought that recovering money in gambling is just luck, but in reality it takes determination to regain all of the losses that a gambler incurred before. People want to be lucky but they do not want to make a move for them to gain luck. As I said, luck is being created and we can have it through trusting the process. I also lose in gambling before but I trust my process and here I' am now, I finally regain all of my losses and I now consistently making gains in a lot of online casino out there. |
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Trading is a process of learning, a lot of newbies misunderstand it because they think trading is gambling where they think that there is no guarantee of winning in it. Actually trading will only become a gambling if you do not follow nay trading system and concepts. When I was a newbie, of course I also made a lot of mistakes and one of those mistakes that I will never forget is by insisting myself to join in pump and dump groups or trading signals groups. I thought that I will made a lot of money if I will join that scam groups, the main trigger that lead me to do self study is when I lose by joining in trading signal group. For those newbies out there, do not be deceive to other people specially those pump and dump groups because for sure it is a scam. I learn to trade by myself by having healthy community, I read a lot of books that help me to learn a lot of concepts that I can use in cryptocurrency market.
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With bitcoin it is quite hard to calculate the dip, because the price will change every minute. When we predict the market to fall to $13000 and make a buy order. It gets executed by $13000, and soon after when we try to sell for $13200 the market drops even low. This is what it is must to have better understanding and make buying and selling else we need the ability to bear the loss.
I think it is not about ability to bear the losses, it is about the ability to understand the price action and market structure. Buying at the dips are not always the good strategy, it is really depends on what kind of trader are you. I'm more on momentum trades so I only buying when the prices are breaking out and exiting if there will be a weakness. Buying at the dips are most likely for the swing traders who have guts to buy when the market is fear. It can be called as good strategy but the thing is it should be done with proper risk management. Your ability to bear huge losses will lose its value if you do not habe good eisk management skills. HOLD is not for everyone, trading is not also for everyone. Choose a strategy that is fitted with your skills and characteristics. |
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Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1000265Current amount of posts (Including this one): 1349 EARNED merit in the last 120 days: 13 SegWit BTC Address: bc1qzynmhqkfzgsklskvqce62g629dap0rm5pa8qg3 Wow the blender.io have now a wallet, looking to participate in blender.io again. |
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If hypothetically the speculation that the price will continue to rise, I think gambling sites will be affected the most because most player will see the value of bitcoin get higher and will regret spending it on gambling. To answer your question, I would do some gambling although the smallest amount will be spent on it, if the transaction fees will get high in relation to increase of the bitcoins price, it will also attract less players to participate in gambling sites.
It is really depends on what type of gambler are you, there are some for sure who sill still gamble even if the price of the bitcoin become more expensive like $100,000 and above. Those who are really obsessed will not be stopped ny the current price of the bitcoin but for sure there will some gamblers who will force to not gamble their money anymore because of what you just said and it is the regretting moment. I'm a gambler and if that happen, I think I will withdraw my funds and not gamble it anymore. |
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Prices don't go in a straight line so expect that there will be retracement and pullbacks that may happen, there is currently a parabolic move in the bitcoin and for me it is a sign of weakness if there will be no consolidations that may happen to the price. If there will be a long consolidation above $14,000 levels then there is a high possibility that the price may reach $15,000 and even more. There is currently hype in the cryptocurrency market and it is the reason why a lot of investors have an eye on bitcoin. The buying pressure is still high and it is the reason why the price is keep moving up.
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It's been 6 straight days and the price of the bitcoin is still holding above $13,000 levels, the current price is in overbought period and for me it is considered as healthy because the momentum is still there. The only thing that I do not like is the 3 recent daily candles have wick in $14,000 which is considered as next resistance but there is small consolidation in below that level and anytime the price can breakout in $14,000 levels and it can became the newest support.
The altcoins are looking bad especially the XRP/BTC in my watchlist, there is a momentum there but the price is going bottom and for me it is not looking good because it is a bad sign. The ETH is still in sideways but I'm looking forward that the ETH can break the $420 levels, If that happens then I will buy and try to do a trend following there.
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several people come to me and share stories about his life in economic problems. she was confused by her choice. he worked and served the country. he gets a salary from the state, but he is also interested in bitcoin. even every day he spends his time trading. If in this forum there are people who have the same problem, then my advice is to choose to serve the country, and set the time for the crypto world. and you will get additional benefits.
Believing that most of us here do have their own day stable job and only making crypto as a side one or for an extra which people had been doing for a while now excluding to those people whom decide to make it as a main source of their income then theyll most likely to be here on this forum but to look up closely aside from trading theres no other thing that for you to go full time. Signature campaign? Lending? Selling goods? Those arent included on the criteria. Theres no need for you to make up some choice because you can deal with both things if you do like.Its up to you on how you well manage your time on dealing up with things and make yourself effective and effecient.Just dont over do it because it would really be a stressful one. Just make sure that you arent compromising your day job when you do deal with crypto because it would really be a big problem if it happens. We have different skills and knowledge so we cannot just tell others to quit their job and go full time in the cryptocurrency market. I think what matters if we love what we are currently doing, I have job before but I go fulltime trading before I got bored in my office job and what I really want is to actively engaging in buying and selling cryptocurrencies. At first yes it is hard because I'm adapting my new environment and my capital also went negative but I managed to regain it. I'm a full time trader now and I purely rely on cryptocurrencies, stocks and indices as source of my income. I tell other people to make an investment even do they have job, it is scam to hear if they say that they are too busy because I know that they have still leisure time to study especially if they want to become rich in the future. |
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I feel bad to what happen to the police officer but as a police they should know already that they will remain very careful anytime they
do a raid and of course in picking the evidence as I can see that the police are picking the rooster to serve as evidence.
The roosters were wearing a sharp blade so you can't just pick them casually instead you will pick them carefully to avoid this kind of
accident to happen. Losing of blood loss that results to death, authorities should shapen their fangs against the organizers of illegal cockfighting
in order to avoid this kind of happenings to happen again.
The thing is, it cannot be stopped even the law enforcers will become more strict in terms of implementing rules in cockfighting. In my area, cockfighting is just normal to see; I considered it as illegal because they do not have permit and a lot of people outside of my home are gathering even if there is still a pandemic. We are having doubts sometimes because there are many of them and of course I'm afraid to be infected of the covid 19 virus. The illegal cockfighting will never be stop because there is money on there and a lot of people are relying to get income from it. The illegal cockfighting will only be stopped if the individuals who are part of it have self discipline and respect to follow the rules and laws that the law enforcers are implementing. It is so sad to hear a news that there is a certain law enforcers who lost his life because of a certain accident, I really agree that they should be new protocols in order to not see this incident again in the near future. |
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It takes a mastery in order to fully understand a certain chart and its price movement, understanding the trend and also the candlesticks are also important and we should always consider it. I do not use fundamental analysis and I mostly rely on general market sentiment and in technical analysis. For me understanding and analyzing the charts is still the same before, I think you still need to focus on your analysis if you still have a hard time on analyzing the price action.
How do I analyze a certain chart? First I look the market structure where if it is uptrend or downtrend. What is the difference between the both? I can say that the certain cryptocurrency is in uptrend if it is creating higher lows and higher highs, while the downtrend coins are creating lower lows and lower highs. The bitcoin is now in the uptrend and if you will observe the volume you can find out that there is something good to happen. My analysis telling me to buy bitcoin and hold it for weeks as long as it will not get invalidated. We have still 2 months to go and there will be another surge for sure and we should really focus on improving our own analysis.
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Actually borrowing money is a good way to raise funds if you do not have enough money to make investment but there is 2 big problem which are: the pressure to make profit and also the skills and the knowledge that are required in order to gain profit in the type of investment that you will do. I think it is better to have enough experiences, right mindset and right skills in order to grow the money that you borrow. In terms of greed, I think it is normal because we know that the market ia full of greed and fear; I think what is not normal if the greed control us wherein we do not have right mindset and wrong planning.
I will agree to the last mistakes and it is to relying on opinion of others. The strategy that we should follow is the strategy that comes up in our mind, where it can considered as our own conviction. There are always hype in this type of market and we should avoid it especially if we want to prevent huge losses and create profit in the market.
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I had to learn the hard way how to give importance to the numbers and digits I was betting upon. My brain was thinking in terms of USD and considering some huge bet I did in the past I could be considered a whale nowadays.
Now even betting 0.01 gives me a sort of discomfort.
There is really a some psychological effect especially when the price of the bitcoin moves upward and we have a money in a certain gambling websites, for me there is change in my decisions and in my gameplay especially on the amount of money that I kept betting. Even if the price of the bitcoin just increase to 10%-15%, I will lessen my betting amount in to 50% and for me it is good decision for me to feel comfortable. I just betting the money that I afford to lose and that is why I do not increase my betting amount especially if there is a price increase in the bitcoin for me to remove the uncertainty and have a confidence in gambling. There are also times that I withdrawing my funds knowing that the bitcoin has momentum and I switching it in trading platforms to not waste the opportunity and when the price will become stable again; I will switch it again into gambling website to not lose the opportunities out there. |
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