Another big mistake is taking a loan if you don't have collateral or the means to pay it back when the time comes. I know people who take loans with over collateralized assets, but if you must do it, please be careful so you don't receive margin calls.
This is like a never ending experience for many. Usually, this comes during the bull run and those that have been enticed by the market and they think that it's there to stay at the top. Much better to not do it and avoid doing so because you'll never like the consequence that it'll give to you. Just use your own money so that you're mentally prepared that you know what you're up to unlike borrowing with an unknown market behavior plus the obligation that you'll get to pay sum with the interest. Not just by taking a loan, some i know quit their job to focus on crypto trading way back in 2017 because we are in a massive bull run that time and they think that it will go parabolic or at least they will still make the some money in a bear market, but it's not. So yeah, takes a lot of mental preparation as the market is about timing, up and down. In bull market, everyone is very happy, but when we enter bearish cycle, it become a problem for everyone. Yeah, there have been folks that did that. Because of the bull run, they've gained confidence that it will like a green pasture at all times and then many have decided to quit their jobs. Too bad that they have to do that but it's better to have a lot of source of income before they decided to quit their jobs. Now, for sure those that have made a bad decision starts to realize that they should have done better instead and can't rely on the volatile market at all times. |
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This is like saying that the bitcoin blockchain is centralized because many miners are relying their electricity from the corporate electricity generating companies which makes it centralized. But as it's divided with also miners that are relying to green and alternative energy, then that makes it both centralized and decentralized then. I got the whole point of what you're trying to make but there are just some things that it's easier to be understood that there's always the supplier and the consumer.
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Another big mistake is taking a loan if you don't have collateral or the means to pay it back when the time comes. I know people who take loans with over collateralized assets, but if you must do it, please be careful so you don't receive margin calls.
This is like a never ending experience for many. Usually, this comes during the bull run and those that have been enticed by the market and they think that it's there to stay at the top. Much better to not do it and avoid doing so because you'll never like the consequence that it'll give to you. Just use your own money so that you're mentally prepared that you know what you're up to unlike borrowing with an unknown market behavior plus the obligation that you'll get to pay sum with the interest. |
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If you are referring about mentor then i can say that in current situations mentor is not easily accessible because no one will guide you and all of the crypto users are just concerned with cash and spreading wrong information. I just thought usable information by watching videos and more about it i just catch good results from my crypto friends.
They're accessible, you can have them freely by following their contents. Those are the self proclaimed mentors that makes daily contents about the market. You can assess them if they really are what they're speaking and if they have the knowledge about the market and trading. We, as audience can depict that if they're really saying what's on their mind and what they know about trading. |
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yes mining is now much more energy efficient and I make sure those who sell it cheap will buy it back at a high price, at least the next few months during the process of the krito market recovery which is gradually recovering,
And it's because ETH is now PoS and we don't have to mine it but as long as you've got that on stake, you'll be able to earn passively. The advantage goes to those that have tons of ETH and they can feel the profit from it but, those that hold less and few, they won't have that enthusiasm just as the others that have been holding a lot. I am happy to take ETH under $1500 for my long term investment
It's $1300 as for checking it and probably you didn't missed when it's like around $900. |
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A responsible gambler should be able to know when it's enough and when to continue gambling especially when loosing becaomes the of the day, a gambker must give notion to himself that luck and expertissm aren't working at the moment and in such time, what's good is just to pause and quit, but due to addiction and lack to self control, some gamblers go ahead to give on themselves the worst experience in gambling without realising, just by stupidity of oneself, such gamblers should never be mistaken to entrust finances with.
Those standards that you've mentioned won't be followed if the gambler is already hooked on it. Just take the example given by the OP, he's no problem with the amount he has spent to gamble and it won't be a way for him to be poor. But look at the story he's got that he's hooked and didn't noticed it, and that's the reality for most of us. We gamble and forget that we're controlling ourselves when we're already in that situation. |
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I am now curious why the Bitcoin price is dumping now when the inflation rate is rising.
Yeah, it should be bitcoin must be increasing when the inflation rate is high. There's an explanation on it and understanding how it works but it's completely different from what I've understood in today's happening. At first, I believe that Bitcoin solves this and that Bitcoin is somehow the best solution against inflation for now but we saw the opposite side.
This seems really the effect of a bear market which even though the market tries to recover it's really having difficulty.
I still believe that it's the best asset to hedge against inflation. It is that, most of the assets are also decreasing and the same hit by the world economic crisis and that's why it's not exempted. But, eventually, this will be back to its normal attitude that it goes against the opposition of these traditional assets. |
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They're smarter each day because it's their money that's being held if they don't do action.
What they do if they've been already flagged by a casino or any exchange, they'll use other's identity which they can easily buy cheaply. That's why they are unstoppable on what they do. But if they're unlucky and caught, they know what charges they shall face.
Indeed, in fact I receive a call and a text from a launderer earlier today, apparently my friend is a victim and they are pushing him very hard just for them to get more money, scammers are getting smarter now, they know how to use technology and manipulate people as well. Kyc is the best way and one of the way to avoid it but then as what we have said they are getting smarter, now they can now buy personal details from brokers to use in different website and to get some referrals bonus as well. Sadly, these scammers and launderers have been extending their network and for a website that we sign up, we don't know if the admin of it is selling the database to them. It's hard to trust these days and you'll get those random calls from these people asking you with anything from the scheme that they're running and would just suck the money out from your pocket. So, it's a combination of launderers and scammers. |
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KYC somehow prevent some act of money laundering but money launderer are getting smarter each day creating possible means to work around the KYC that hurdle their laundering activity.
They're smarter each day because it's their money that's being held if they don't do action. What they do if they've been already flagged by a casino or any exchange, they'll use other's identity which they can easily buy cheaply. That's why they are unstoppable on what they do. But if they're unlucky and caught, they know what charges they shall face. |
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I do want to know if it's possible for a starter to gainfully earn from Crypto trading without having to go through a professional training.
Yes, what you must have been to gain is experience. That's all you need to have but you can still earn trading crypto as a newbie out of luck. But I don't think that you're going to a war without anything to hold on to protect yourself. I'm sure that you'll get to have yourself some knowledge before you proceed like researching what you're about to buy and that's all you need to have as a newbie. Basically, that's not having nothing as you trade but that's a way to make sure that you did everything before you trade as a newbie. |
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Well , until TI official games we have a BO5 between Secret and Entity and if I had any money for spare to place a bet , I would have go with Secret to win this series and go to TI ,even if Entity is the superior team right now and StormStormer is a beast in mid lane. Odds also favors Entity with 1.42 vs 2.70 for Secret.
Team Secret was exhausted at the grand finals, no win yet it's understandable on what they've gone through. Props to Entity, they really rest well and won against all the series that they've been. Another strong that just got in and I think, they'll be tested if they go against Team Secret as I like how they do their pickings. I'm really impressed how they're making their picks and I am sure that the others too that have managed to appreciate that on them. |
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Good thoughts about your DCA aim, Bitcoin may be a bright future, individually held till maximum gain.
Well, talking about the maximum gain. I'm one of the people that will hold for long but I don't think that I can maximize the gain that I can. As long as I'm in profit in due time, that will be the best day of my life to take. I know some people have been holding for years like starting from 2013 or even by 2011 up to know. They might have sold a little but it's rare to see them that until now, they're still holding and can be said that they have finally maxed their gain but still holding. |
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Biggest mistakes in crypto are
*investing large portion of money in to low cap coins and meme coins
* influenced by twitter crypto influencers who get paid to promote hype currencies
IMHO, these two factors are usually what I can see from the others. They're heavily influenced by those popular people in the crypto scene and they're trusting them even more. Also, the popularity of meme coins has got a lot of many to be attached because they thought that it's the best and easiest way to win this market and become rich from it. That's all because of lack of knowledge and understanding in the market for which they think that this market is just a way to make bucks too easy. |
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well, I think everyone was rooting for t1 to get the ticket to TI because of Ana and Topson but they were not able to carry the team. There is just too much to work on in T1. Draft picks, communications and everything.
We all were rooting for T1 to get that secured slot for TI and that's because ana and topson were there. But their force weren't just enough to beat Polaris, also a strong contender. They look good when playing with the less competitive team but when faced with some teams that know how to counter them, they failed to adjust in-game. They still have a few days to work their kinks out and hopefully come to Last Chance qualifier stronger.
There's still a lot of adjustments to come for them and we'll see the best of them on the lcq. Because all of the teams there seems stronger than this qualifier that they've been through, still GGs to all of the qualified teams to TI and to the lcq teams. |
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Of course the merge process is according to plan and many congratulations from the top influencers to the Ethereum owner, Mr. Vitalik,
It took long before it happened but at last, it happened. Many liked the idea of POS ETH and many don't like it especially the miners. I hope this can have a big impact on the market so that Ethereum becomes king by defeating Bitcoin.
Please stop thinking that just because ETH is now POS, it'll be able to dethrone bitcoin. No, no way that it can and it will. POW is even more desirable rather than in POS because in Pow, the network is more secured than this centralized network of POW. |
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All of those will have a great contribution for a traders success. It will be majority of the successful traders will be basing on their experience and also having that relaxed mind in reading their trades and before committing.
An attitude of not being greedy too is also going to one fundamental that a trader needs to have.
Crypto trading is not just buying at a low price after that we sell it at a high price, if it were that easy a lot of people got rich from trading crypto. While the reality is that more people fail to trade crypto than people who succeed in trading crypto. And very few traders make crypto trading their main job. It's all because our mindset must be right first, how to make our mindset right when trading. Everything requires a long process, so we have to learn about trading properly, after that we trade with small capital first, slowly we will learn from every loss we experience when trading. From there, we usually start to form the right mindset on how we can become successful traders. The most important thing is never to give up if we fail, we have to get up and fix every mistake we make. You are right greed is one of the important things that we must avoid in order to become a successful trader. Actually, it was easy to understand like that. Buying low and selling high but yes, the hardest part is to determine when you must do that and not everyone knows when is the right time and when to execute those trades. It's true that many fails as a trader and those that don't give up are the ones that capitalizes their experiences and manages to profit from it as they stay. It's not that easy as we say on how to do it because there's more to it as you keep going. |
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Yup. I've got no plans of selling them as they really are dead. If you're only for altcoins and you're making well there then congratulations. But don't forget that sometime in the future that majority of the alts will be stomped again by bitcoin.
So, if it's not yet that late, get yourself bitcoin before anything else because that's what is going to be always the best option for the majority of us.
Bitcoin is the top choice and it's a definite thing I do. As for some Altcoins here I only hold eth and bnb for now because for other coins I still don't plan to bring them unless it's shitcoin which has been a collection for the past few months. Being in bitcoin is one of certainty so why would it be foolish to turn away. That's good, those are good choice of altcoins. There's certainty with bitcoin and that's why I also encourage the others that still don't have it to buy it. It's because having it is likely giving a security to what we're holding and that's a must for those that still don't have it, if you like of owning it then you're having a good decision because you see the importance of it. ~snip~
I understand and I'm with you that everything is going to get better soon. And the choice you've made is the best for you. |
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All the fundamentals you remarked here are the key to success and i think that if a traders possess these talents he will be easily gaining too much profit. If a person just concentrate on the ways that lead him to success and do not think about the suggestions provided by the people then he can do the best. A strong mind can become the causative agent of profitable results. Sharp thinking and tolerance can be useful tools.
All of those will have a great contribution for a traders success. It will be majority of the successful traders will be basing on their experience and also having that relaxed mind in reading their trades and before committing. An attitude of not being greedy too is also going to one fundamental that a trader needs to have. |
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That's good for you as you've find comfort with bitcoin and not anymore with altcoins. To me, I still have a very few of altcoins on hold and some of them were dead for good.
But there's nothing gonna happen even if I sell them so I just keep them for good and not hoping that someday they'll pump and a whale would buy a lot of it, not like that but just keeping it to myself like a memory of a wrong decision I've made.
Just keep it as your collection but don't really expect to be able to pump because this will only be a hope that is not certain to happen  Actually some Altcoins are still very good in my opinion but I am dealing with other things for now because I am only for altcoins that have something good and are quite reliable, the rest are for projects that are not very clear I prefer not to look at it because it is just wasting -wasting time even though it is possible some of them have pump and dump. Yup. I've got no plans of selling them as they really are dead. If you're only for altcoins and you're making well there then congratulations. But don't forget that sometime in the future that majority of the alts will be stomped again by bitcoin. So, if it's not yet that late, get yourself bitcoin before anything else because that's what is going to be always the best option for the majority of us. |
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There's nothing we need to do when we're in the midst of the reddish days. Holding is the best choice if you want to stay on this market but with good cryptos that you're holding.
Not with some random altcoins that you're going to hold and you expect them to grow with the top ones. That's not how it goes but at least you practice holding and being patient.
I am no longer interested in Altcoins and so far there are no Altcoins that I keep as assets. For me Altcoins are not able to provide guaranteed value in the future. I'm tired of Altcoins. The direction and focus of my every discussion here and outside the forum is only on Bitcoin because I think Bitcoin is the king of crypto. Can't compare Bitcoin with other cryptos. It's been years since I wasted time with Altcoins. So, what needs to be held and collected right now is Bitcoin. The patience and hold that prevails today in my opinion is for Bitcoin. That's good for you as you've find comfort with bitcoin and not anymore with altcoins. To me, I still have a very few of altcoins on hold and some of them were dead for good. But there's nothing gonna happen even if I sell them so I just keep them for good and not hoping that someday they'll pump and a whale would buy a lot of it, not like that but just keeping it to myself like a memory of a wrong decision I've made. |
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