Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.
I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.
I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.
Anyone done something similar or will it just lead me to losing my money?
Try to learn SL as well in which you can minimize your losses. This can be good be good but it requires you to spend time and monitor the market, if you are okay with that they go on. There's nothing wrong with that, but better to learn at least reading The chart or at least learning to read candles, that is the basic thing that you can do and it is kinda effective. Stop loss is really required in trading as this can stop you from losing more. It was already taught when we first learning trading unless you want to lose all of your money. Candle patterns is needed also familiarization of indicators as it can see what is the direction of the crypto. I always using indicator to see if it is overbought or oversold that I don't get overwhelmed and very confident on my trades. |
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So my question is:
~ Do people hodl just because others are HODLing?
No people are holding because they want to earn profit and not getting on with the hype unless we are just talking to the new coins that are coming out right now and got influence by those vlogger. So my question is:
~ Why so people hold rather than sell and buy again when low
Others bought at high price on which they thought it is low that is why they are still keep holding. I got your point but others tend to hold more because they know that it will raise over a year and they will benefit. Others just forget it and continue holding. Others are also got an extra money on which they still hold but buy again as the price are low. So my question is:
~ What is your major reason for HODLing and how do your survive the bear market?
Profit is really the major reason why we are into holding and surviving in the bear market it is just we need to have to control our emotions and keep on the positive side like we see that bitcoin will be back again in few years. It is simply to say but difficult to do that is why I step away on my wallet in the past year just checking the price rarely |
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This is a good move to have awareness on bitcoin and your initiative on doing this is really good but can you also put photos on your lessons? or like how do you give awareness on them like any proofs? As others posted like a whiteboard with Bitcoin definition all over it since you just take a photo and some sort of just talking things. But again continue doing this (if you are really teaching or spreading awareness) as for sure there are women/business women will try to integrate bitcoin on their business or they want to invest and hold bitcoin
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Yes I am still holding some of my coin, I am trying to hold as much as I could and buy as much as I could right now.
For me it is better to let it sit into crypto than Fiat, I have a higher chance to gain more when I am letting it sleep on crypto than in my bank account.
Others also let their money sleep on their piggy banks that it wont grow over time. But still other people prefer putting money in the bank because it is way more safer than in crpyto because we all know that the risk are high but again the returns are high too. Most of the people I've known is investing on crypto and others just choose on the bank because they are scared to take risk. As long as we have money to spend then it is very best to buy bitcoin on it mostly now the price are low . |
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Truth is that every losing trader wants to catch up and recover their losses but that will depend on the mindset adopted. No trader should back out because they're losing. However, it's good to do the chase with a clear head. Otherwise, the trader keeps losing. Those who take a break because they've suffered losses and then come back without reviewing their trading plans and strategies will keep losing. It doesn't matter how long they are absent themselves from the market. The market is the master. No matter how angry traders are at their losses, they ought to reckon that they can't take a pound of flesh from the market.
Of course, we all want to regain our losses which I think is normal but we should chase them responsibly. We can feel disappointed and upset for losing our funds but chasing them with a negative mindset will be a wrong move. We can take a break if ever we are experiencing extreme losses and just trade again after conditioning our emotions. Revenge trading for me is a negative term and recovering from our losses will be more acceptable. When we lose money in a trade I would consider it to be completely normal to try to recover that money as no one really comes to this market in order to lose it, however there is a big difference between that attitude and the attitude of those that are revenge trading in which they have let their emotions take control of them and they forcing trades and opening positions when their strategy has not gave them a signal to do so, which by the way instead of helping them to recover the money they have lost this will increase the size of their losses. Accepting that you will lose should be learned in the first place when we start learning the basics of trading. You are correct; no one enters the market without the desire to recoup losses; however, this should be done in moderation, not as if you need it back today and will go all in, which is a bad move. Others' strategies are to accumulate it over time, while others just forget about it and continue trading, and when they see that they are getting profit, they will look back at their losses to see if they really gained profit. It is really best if we can just accept our losses and move on, as this is for our own good. |
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We each have our own mindset, and some of those suggestions will not work for us. But I noticed in myself that to cater my losses, I have to ride my motorcycle for 20–30 minutes or have a drink with a beer that can ease my mind because I am the kind of person that, whenever I have something that I need to solve, I don't sleep as long as I haven't solved it. It is the same when I am losing; I want to win it back, but I am glad that it didn't happen to me as I am just a casual player who only plays with small money and rarely.
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I have said many times earlier also that these signal groups are mere trick to scam innocent investors and those who don't have any knowledge of the market but in end they are fools who believe in what they say.It has never been good option for me and trading on your own is best because they will pump the shitcoins and tell you to buy and when you do the results will be loss only and what they offer afterwards? You were late in selling and other bullshit talks so best is to avoid them as much you can.
It was really funny that some of the owners of these signal groups claiming that they have high winning strategies that are a sure win per trade but if it is true then why they are still managing telegram group. I am just sad on those people who got victim on this but at the same time others newbie wants this because they think it is easy life and not learning trading. Ive also encountered someone that said to me that I give him signal whenever I do a trade so that he can profit too, lol those kind of people are just very lazy |
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Sorry, but did you make up the way you told this story for attention or merit? But okay, let's just assume you have an upcoming child and decide to name it a bitcoin. My input was that it was a dumb idea. I know we love bitcoin, but naming our child after it is the wrong move. I wouldn't agree on this, and it is not nice because for sure he/she will be bullied at school because of this, and for sure he/she will be hardheaded towards you and ask why you named him Bitcoin. Give your child a decent name, not bitcoin.
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We all handle emotions differently, also the way each of us admit our losses differs. I love playing dice and blackjack on my favorite casino and have never had a big win, but I make sure not to chase my loss if I lose. I have learned to deal with losses, it wasn't easy from the beginning, but it gradually became part of me over time.
Not everyone is good at letting go of their loss. I used a four way strategy to train myself into admitting my loss:
First I draw a plan of how much I am willing to risk for any bet:
I so much believe everything starts with a plan. To avoid been carried away by my loss or urge of trying more chances I first plan how much I'm willing to risk and if it goes I pause to try again when next I have made new budgets.
I make sure I don't pay attention to the leader board:
I try my best to avoid this board because it can be tempting and compelling seeing how much a user cashed out the hungry to try a little luck might make me go against my plan
I ensure I drink enough water to reduce risk of heat stress :
I won't want to be under any compulsion or stress after a loss, so I make sure I drink water to stay hydrated, and it helps manage my mood even if I lost.
I ensure my emotion is in check:
I remind myself regularly that I am only having fun that can either be winning or loss, and what ever be the outcome it is for the fun of the moment and not a get rich quick scheme.
I avoid greedy friends
Friends play a big role in the character of a person. Someone who is never greedy can become greedy based on a friend's influence. I rather take a small win and walkaway than risk it all to lose even my win.
My most annoying losses comes when I feel or assume that I have greater chances of winning the game. I experienced most of this in the last world cup in Qatar due to the numerous unpredictable game results. Listening to my favorite songs would be my best option to handle my losses. It helps to distract my attention from the game. Watching a good movie is also another good option to cool off the pain and anxiety. But like you rightly pointed out, greed is one of the catalyst that fuels unacceptable behavior after a loss. Hence, it is adviceable to bet moderately so that one wouldn't lose more than he can bear. This was also my feeling in which i thought this bet is a sure bet like 80% chance of winning which having an over confidence but turns out not . If this kind of feeling will struck me I tend to not bet because being over confident is you will also increase your bet means huge of losses. It is really advisable that you should bet what you can afford to lose and if we can control our self the better |
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I just heard of this kind of strategy as I am not really fan on it , I am into opposite on this like having an overall gist on the fans like their speculations per team if they can win or not and also my own understanding and speculation. I don't really go deep or serious in sports betting it is just for fun and brought you excitement but when I try to recall this there are some couple of games that I've lost which if I use this strategy I should probably won. This is still 50% chance of winning same with my own speculations so I would still prefer my own insights per game.
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To be honest no one during 2016, knew that Bitcoins Will really turn into a big deal or an asset. Many of us just invested in Bitcoins due to the Digital Goods or when necessary we bought some Bitcoins. So yes if you didn’t fell for that scam at that time, by now you have sold it only. Yes I remember that back in those days these types of scams were pretty famous. Cloud Mining, Level Investments were the most scams in these crypto times. Always avoid these type of fishy investments. Currently take advantage of the bear market and if possible buy as many Bitcoins you want. In future definitely you will sell these in high price.
2016 is the year of the ponzi scheme, and 2017 is the year of cloud mining, in which even mobile phones can mine via browser and others will purchase powerups to increase hash power. Also, bitcoin was inexpensive at the time. I remember those times and they made me laugh; I was once scammed in a ponzi scheme and never tried it again, nor any other seemingly too good to be true investments. Though, for sure, we learn from them, so it is still a good move for us as long as we have a lesson that we get. |
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Whatever trading any one wants to engage himself with should be very careful on the amount they wants to trade with because I believe too well that trading is likely to be gambling, any amount they have lose while trading can't never be recovered so I am on the Opinion that only 20 percent of their capital should be used to trade and 80 percent should be reserved to buy and hold some good amount of bitcoin or any another reputable coin out there.
That's one of concept i can't agree with people kind of comparison with trading and gamblling. Their is a huge difference between gambling and trading. Gamblling have to do with prediction or assumptions because it's doesn't a particular skill you can learn that will make you to wining or to losing, so it's totally obvious that gambling have to do with risk measure, while trading you most undersgoes a proper training and also master the risk difference before you can make huge profit. So trading have a skill we have to learn and understand the steps before making profit as i portray before now . Yes, I agree with you that between trading and gambling is clearly different, in trading we need to have good preparation in knowledge, skills, and others, whereas in gambling we can make predictions without clear benchmarks. Gambling you need also skills knowledge and strategy the difference on this is that the luck you are carrying because in gambling mostly the chance of your winning is small unlike in trading as long as you have knowledge to it and read news that can impact on it then it has a possibility that you will win. The example of trading in gambling style is putting a trade and hoping for luck to struck you lets say you are lucky for now but for sure in the long run you'll be losing a lot. |
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All the callers, saying Bitcoin will get to $12k $10k or below, we haven't see $14k so far, is $15.4k the last bottom for btc or we are still going to see more dump??
this should be a mini pump
because Btc is resting at a critical supply zone. If it breaks and close above it, we may not see 12k. If not 12k here we come
We don't know whether it will hit at this price or not, but what I am certain of right now is that it is beginning to pump and that it is the result of the economy opening up and inflation cooling. My prediction to you is quite the opposite: it was on the brighter side than in previous years, but let's see what happens now that there is resistance at 21K; let's see if it breaks it or if we see another bloody year for bitcoin. |
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The best way to lessen the learning curve is by applying in mentorship with proven system that can make profit in any season of the market. In this way, the trader do not need to do experiment and to build his/her own system wherein it can save a lot of time but the only disadvantage is most of the mentorship program has a cost. But that cost can be the key for you to be a profitable way.
Mentorship is a good strategy for learning as a beginner as you can ask and hear answers from what you wanted to know, pretty unlike if we just rely on online tutorials. I'd see fast learning in this way but of course, we don't also have to keep relying on this person as it was a need for us to stand and decide alone. Having time with our mentors is perfectly the time for building our trading analysis and decision-making teaches us how to respond in a particular situation. They can't be forever on our side that is why we should have to work hard as well to understand everything we needed. The benefits of having a mentor include the ability to easily ask someone if you have questions rather than conducting research, which we know can yield broad results. Also, having a mentor means you can really enjoy learning as you have someone to talk to, but the con is that you'll be getting dependent on it like a child that, if you keep holding it, will not know how to walk. So after you've gotten the grasp of trading, it is time to walk on your own and try to feel the waters of trading. |
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Simply put a sign in your door stating that you accept bitcoin, and you will undoubtedly have a lot of customers asking you questions; just put it up because most people are curious about it right now. Also, there is nothing wrong with it unless it is illegal in your country. The positive side of this is that it will attract more customers to you. Just prepare your answers about bitcoin and if they want to pay using it, as this is the most common question. Good luck with that, and please keep us updated about what is the outcome on this.
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Side job is good as long as you have still time to do your responsibilities and other things.
It is a side job and you are in charge so you will definitely be able to create the time for other engagements unlike working under someone who dictates your time. I will choose multiple side jobs over working a job or business provided the side job is profitable. I will even agree to have a reduction in pay if I already work a job so that I could have time to run my business or do my side Hustle. For future sake, I think the side hustle or business you do for yourself is more important than the Job you are working for someone else. Side jobs have their own boss, who is your client, but you can manage your time and choose when you are available your are still working for someone else. Also, there are specific side jobs, such as remote jobs, that require you to render for 4 hours at a specific time, but it is still considered part time. However, side jobs are not guaranteed work when compared to having a job because, first, if it is project-based, it will be gone once it is completed, and second, you can be fired or not hired anymore because there are no contracts of service on it, which means there is no assurance, unlike an 8-5 job where you have a contract. A side hustle is just an addition to our earnings, but it is not guaranteed. |
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Straight no for me also; why do they post ANN here if they don't want to get replies on it? They want to address those accusations in private chat? or in their community that they can sensor easily? Also, there's something fishy about why they don't want to answer those accusations here because they'll find a way around it. Transparency is essential; if they aren't hiding anything, they can easily answer questions and deny accusations. Whatever their point or desire, I think a lot of gamblers who came here will decline.
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Most of the answers usually make the price go higher, like breaking its ATH. This is also one of my wishes for BTC, but also for the adoption of bitcoin all over the world. I want bitcoin to be legalized in those influential countries as well as being used as a payment method by most of us. We all know that the reason why bitcoin was made is because sending money online is expensive before and, not easily tracked, and has high fees. I am hoping that this will be done in the future.
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I observed that the cryptocurrency market is a kind of green at the moment, but as a beginner, I still find it difficult to tell when the market is actually bullish. I will appreciate any advice from fellow community members concerning this current situation because I'm considering to buy some coins but finding it difficult to decide on which coin to give a trail.
Just a kind advice, the risk is mine.
As a beginner, i will encourage you to buy Bitcoin and keep instead of buying altcoins, because their is something i understand so far, buying other coins is at your own risk indecencies that the green color of the market is not strong for someone to think of purchasing shitcoins for long term investment, so therefore it's adorable and advisable to purchase a coin that have good potential so that when theirs a bearish it won't affect it that much. If you really plan to have a long-term investment then bitcoin is the best and it is way safer on altcoin. As you can see that there are altcoins that only performs at first but in the long run it will die that is why bitcoin is better choice but if you want to invest in short term you should know the risk in investing to altcoin also as there are a lot of altcoins that are scam. Back to the topic , any time is the best time to buy whether the price is high or low as long as you have an extra money to spend because if you wait on the dip then for sure you'll be waiting for ever and you'll miss the ride |
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I can only say that a good gambler can control himself no matter what situation he is in. That's the gist of the bolded letters. If you can't control yourself, then most likely your output will be the opposite. Again, it is easy to say but difficult to do since there are really times we can't control ourselves, but we should do this as it is for our own good. But again, nobody is perfect, so there are still instances where you can, like, chase your losses, but it should be at a minimal rate as it can cost you a lot.
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